Wonway......PacWest now does have a leasing company in place. However, if FASC had previously leased KDS, the lease payments should have shown up in revenues under leasing income.
After thinking more about this the last few days, here is my analysis.
We know that FASC has sparked the interest of some big name operations like P&W, Sundrop Fuels and others, through the noting of the KDS in their patents, project agreements and information we have found on the internet, etc. And FASC has been quiet on these matters, yet we have at least a handful of more KDS installations than we cannot account for.
What does the above information tell me?
My conclusion is that there are at least a handful of KDS that are out there being tested and operating on site with some of these and other big name operations, as part of the start of new projects for the production of alternative energy, etc.
How are these accounted for? Based on the above, my conclusion is that there must be some non-disclosure agreements in place; whereby the potential FASC customers have been given the right to purchase single KDS at cost for testing purposes.....with the understanding that future outright KDS purchases from FASC would be at retail, should the KDS be selected as the biomass pretreatment machinery of choice.
What we likely have are a series of Memoranda of Understanding.
This gives the big-name operations a chance to work with the KDS on a day-to-day basis. FASC gets an opportunity to get its KDS in the hands of companies, who if they select it will need multiples of KDS in the future for their projects. And both parties are likely under non-disclosures for a period of time while testing takes place.
To me, all of the evidence now points me to this or something quite similar to this taking place.
