Sigh....let's do this again, one has to stay positive and hope/wish that someday everyone would take the filings seriously?! Until then...
ON PAGE 14 UNDER PLAN OF OPERATION - Item "C". If we are successful in establishing the pilot production plants in Canada and/or Texas, of which there can be no assurances given, we are anticipating revenues in the eighth month after receipt of funding for each respective plant.
In order for the 8 months to begin the countdown to revenues there will have to be an 8-K filing noting that a contract has been signed. I can't find the 8-k filing that would make some believe that this countdown has begun.
To expect revenues in the 10-K is an exercise in wishful thinking. And I'm all for hope and wishful thinking except that it sets expectations that will lead to disappointment, anger and frustration. Invariably, the whole board is then drug into a conversation about someones imaginary wishes and dreams.
Let's try and stay with the way these things work. There will be an 8-K once there is a binding / nonrefundable monetary agreement of any significance. Then read the filing above, "we are anticipating revenues in the eighth month". ANTICIPATING is nothing more than an announced target, a lot of water will flow under the bridge before then but let's "hope" it's right.
That would mean that even under the most benign calendar assumptions and that is "wishing" an agreement was reached tomorrow. It would mean that revenues to the company are "anticipated" to flow by the end of March 2013.
That would be the end of the 3rd quarter (QMC fiscal calendar)and so possibly a couple of weeks of revenue would be announced no later than May 15th of 2013 (45 days to file the 3rd Qtr report) and thus no significant revenues would be reported until the 10-K is due by the end of September 2013 when the 10-K (annual report) is due.
In the mean time there could be licensing arrangements or other fees that the company would receive but we won't know these until we see the terms of the agreements.
This may not please everyone but I'd rather try to deal with reality than the fallout of my failed expectations. That said, anyone wanting to expect revenues certainly should enjoy themselves and do so but please don't burden us with their failure when it occurs. GL2A
AI
