On the other hand the company has had a hoard of employees, about 70 give or take, and a well paid executive staff, that burned through tens of millions of investor dollars in cash, with no end in site, and never were able to sell or finance a single plant with out feeding off the US DOE T! They also relentlessly diluted prior investors as they burned through that cash for years.
I drank the Koolaid, big mistake, about 18 months ago and believed analyst reports that they would have reached break even by now just with the NY plant online at full capacity. What a lie that was!!! Now I hear they may sell the NY plant for a tiny fraction of its cost, and a fraction of what DOE lent for its construction, but the BK filling said they had 30 million in assets more than debts (another lie?), and a few weeks later they suggest the plant will be sold for 25% of what they own for the loans they used to help build it, much less what the total cost was. So what I want to know is where and what are the other $55 million in assets they claimed to have. If they can't earn a profit running the plant after getting a sweat heart DOE low interest loan for most of the cost to build it, 39 million $$s, how will they ever survive, and why would anyone buy the technology, if it is unprofitable????
I have no doubt common shareholders are about to get ripped off one more time, as they already got ripped off for years, long before the Chapter 11 BK. Only this time, I expect a big power company, like SO, or a power house like Westinghouse or GE to pick up the IP prize for crumbs.
I think the DOE was had, and manipulated just like we investors were.
Ambition with out knowledge is like ship in dry dock. Going nowhere fast!
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