Clearly, the SEC complaint has forced Bruce's hand, and now he has to try to provide some concrete info, but I find it wanting.
Some excerpts from this PR, with commentary:
First mention of the milling equipment in awhile, and the first public announcement that both units had to be completely rebuilt. Why weren't they rebuilt in 2015 so they could be installed as soon as the Silo pad was completed in Feb or March?
Shouldn't this have been completed months ago?
Per Schmitt's statements in the past about the decorticator being able to process 2 - 3 tons/hour, even with three shifts running 365 days per year, the total amount of kenaf input is 35M to 53M pounds per year, and the output will be a mix of fiber and core. Assuming a 50/50 mix of core and fiber, how can 18M - 27M pounds of core (or the equivalent amount of fiber) be turned into 100M pounds of final product?
Oh, they sent a sample of hemp fiber to Volvo. Big whoop-de-do. Where did Bruce get the hemp? Or by "material", is he saying that he sent kenaf fiber, but wants people to think he's capable of growing and processing hemp at the plant right now?
If they're going to change to hemp for the 2018 processing season, why would anyone buy the kenaf?
Still no mention of the decorticator equipment itself being operational.
I don't think that the plant will be fully operational in 3Q/16.