Although I don't agree that SGLB should not have bought the EOS printer, I do agree with the "ho hum" opinion of this latest PR. This was "non news". We already knew that the printer was coming. Of course they'll be taking orders. Any shop with a 3D metal printer is going to get work right now and these guys are pros. The only thing I got out of this update is the reaffirmation that DEFORM is on schedule.
I invested in this company for the potential of PrintRite3D. I did not intend to invest in a machine shop...a 50 million dollar machine shop with only one 3D printer. I'm confident that I could set up a single printer business for < $2M. Maybe I wouldn't be utilizing PrintRite3D, but I'm sure I would do just fine using EOSTATE while following up with post build inspections.
I am worried that SGLB's service oriented shift was reactionary as it might take longer to generate revs on PrintRite3D than they hoped. I'm patient enough to wait through this but others may not be.
That said...I'm NOW content to be in that business. Although I see it as a distraction, I also view it as a backup model. Before the printer purchase, it was a complete gamble on when/if they succeed. Now, we'll at least have some backup to keep afloat. If PrintRite3D fails for some reason (I don't believe it will but if...), This backup model will put them in position to become the next Morris Technologies if they scale up. This won't likely make us rich, but it will give us fair value.
IOW...the printing service model helps remove the risk while preserving the potential. It's a parachute. This helps me sleep at night. It will also allow SGLB to get even more "quality time" with EOS's printers.
Long and cautiously optimistic,
Cheers!
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