Agreed - the CC was underwhelming, but I did not expect to get any more info from the call than I did in the 10Q. Gregg did sound like he could have taken more time to prepare to sound less "shaky." IMO this CC was targeting institutional investors.
Right now that's all the company needs - is to prevent bleeding while management races against the clock. Current management has shown resistance to announcing any kind of news, until the ink is dry. It's a good and safe practice, but it also keeps investors in the dark and is the primary cause for the drop in PPS. For example: the joule-heat system is a significant development and the company has been silent about it. If Cecil was in charge, he would have released several PRs about patents, and successful small scale testing and intent and progress of commercialization. STWA is in the process of commercializing this system and close to operational prototype testing with and upstream company, and we only learn of this now in the CC. This is significant development that has been kept under wraps. With such rapid developments, I would not be surprised to hear multiple contract announcements with upstream companies in 2015. I'm not talking just operational-prototype-testing agreements, but contracts for meaningful orders.
I absolutely 100% agree with you, the company is years away from turning a profit. I've stated this here early in Q1 2014 that it will take awhile for TransCanada to sign a meaningful contract. My projections were Dec 2014 at the earliest; but a Q1 2015 contract announcement is the most realistic scenario.
Even after a contract announcement, it will take time before the money hits the bank and the company begins to show profit and quarterly growth. Yet the announcement itself will propel the price of the stock past $2. Future contracts will accelerate, as the marketing-sales cycle will compress.
Also it sounds like the joule-heat system will be commercialized & monetized faster than the AOT. The upstreamers have a faster adoption rate when it comes to new tech, this
Bottom line, the company is on the right trajectory, but it's a solid 2-3 year away from being a high-growth investment. It's not a matter of "IF" but a matter of "WHEN." Mr. Sano, that's why you keep track of developments with ZERO.