Net-Man.....I believe I have a clear picture of the company's position based on a combination of stated objectives from the SEC reports, information that we have compiled through our own due diligence, and verbal communications that we have received from the company itself, that have been relayed on these boards.
1) SEC reports statements......
"Management’s plan to address the Company’s ability to continue as a going concern includes: (i) obtaining funding from the private placement of debt or equity; (ii) realizing increased revenues from sales of the KDS system; and (iii) obtaining loans and grants from financial or government institutions. Management believes that it will be able to obtain funding to allow the Company to remain a going concern through the methods discussed above, though there can be no assurances that such methods will prove successful."
So far, the focus has been on the "realizing increased revenues from sales of the KDS system" aspect of the above. Which tells me that there is some degree of confidence that this will ultimately play out.
2) KDS sold and in projects as reported by FASC and PacWest.....
..... that have been communicated to be in operation from company-provided and PacWest provided published numbers in the neighborhood of 50 KDS. We have found something close to 40 KDS that have been sold. That likely leaves about 10 or so other KDS in working projects.
3) Verbal information from the company
...has confirmed with us over the last year to year and a half that first, there were a number of prime projects that the KDS was involved in (See 10 or so projects estimated above). And that last year was anticipated to be possibly a breakout year due to the idea that several of these large projects were coming to a head. And then, that there were some huge disappointments in reaching succesful conclusions to some of these projects (read, perhaps....Pratt & Whitney, Sundrop Fuels, Poland, etc.) This followed by the most recent communication that there were new projects in place to replace some of those that were disappointments.
When putting this all together, the clear picture in my mind is of a company that now has a combination of some ongoing and some changing projects that are designed to take it to the next level of sales and profitability. Ongoing projects that we have discussed may include QL Resources, China wastewater/sludge via JCL Engineering, algae/SIA EHT Engineering, and perhaps MnVap....to name a few. As for changing projects, I think we might include St-Malo and SCA Tissue as a couple of the newer members of the group. However, we hit a combination of an interim sales dead zone, coupled with the long gestation periods of many of these projects.... which make it difficult to put firm timelines on their full development.
In my mind, I see the above pretty clearly as a recap of events over the last couple of years, as well as the company's intent and thoughts on future projections.
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