Well actually if things were going well you would have expected, from competent management, an update well before now. Reason being as LR laid out in his last post there are clear milestones in the original EcoNav amended contracts that are material events if completed.
So for example, if EcoNav raised the money for the pilot, initiated the pilot, completed the pilot, anyone of those events or all of them might have been worthy of an update. You know Heddle being Mr. Transparency and all. And if the pilot was successfully completed that starts the countdown timer of 60 days on raising money for the actual order.
Again the key is any or all of that would have probably made for a good update along the way well before next week. Now if nothing material has been accomplished then they will probably wait until the very last day. That means once 210 days pass from January 2 either they have moved forward or not and that is material. They get a little time from the SEC to do that update So they have until around Tuesday or Wednesday to get an update out. I think it is likely they will float some crazy story about how things are getting so monster and huge they simply do not have the time or energy to actually complete existing deals and collect the money they so desperately need. All of that is just obfuscation for the fact nothing is happening.
So to net it out, expect a monster and whacky story that includes no actual money coming into the company by COB on Tuesday. Give or take.
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