I cannot understand why ECOS cannot get a contract going with Energy Partners in Chile. EPC has seen first hand that it works, even better than first believed. In a press release on 3 Nov 2011 they reported:
“After several months of testing EcoloCap's M-Fuel emulsion by EPC of Chili, EcoloCap's management wants to update its stakeholders on the progress to date. M-Fuel has proven it is truly a viable fuel and EPC has demonstrated that it will substantially reduce operating costs for the company. Consequently, the parties are now currently engaged in negotiations on how best to take the next steps forward.
The first goal is to convert more of EPC's Degan, Chile, power plant over to M-Fuel, which will require an additional two or three NPU-60s.”
I assume right now the one unit they installed to test and demonstrate is still up and running (why wouldn’t it be.) Are they selling additive for it?
In the Form 8-K dated 14 April 2011, which outlined the agreement with EPC for the sale of the first unit it stated in exhibit “B” that after testing if EPC so desires to proceed they will purchase three more units at a price of 850k each and the additive after that. EPC agreed to this at that time why wouldn’t it be a slam-dunk to get them to proceed now? Even if they have to modify the terms you would still believe it would be an easy deal to get revenue coming in.
You can’t wait forever for FEI (from the first PR announcing the standstill agreement dated 22 March 12 it said they had already been in negotiations for 3 months so that makes it 6 months as of today.) They need to tell FEI they must sh*t or get off the pot and proceed without them to get some revenue. If you have revenue coming in you can continue as a viable organization for a lot longer time then with nothing.
I am completely baffled by this.
AI
