Deadline for 10Q is Monday June 18
Otherwise, they have to pulish a plan to NASDAQ as to when they will comply which gives them a possible delay till sometime in late September. They still face being Delisted for being under $1.00 per share for more than 30 days.
The only revenue they have is in their 18 Appliance Recycling Centers and in capitalizing on so called "Carbon Offsets" in California and selling the by-products from stripping the appliances. I looked into this a little closer the past few days. Under prior US Government Administrations, the EPA created a range of regulations and this is what has essentially allowed this type of business to exist. There are now two key factors that impact this type of business. New Appliances are being made with less precious metals (ie copper) and regulated chemicals such as the refrigarants and insulation like asbestos. The other being both de-regulation as there now are very little old appliances still around and States no longer offering the incentives.
An examination of the last 5 years showed the recycling revenue was and has been trending lower and only has been buffered by State by State Utility Incentives such as those ARCI received in states like California.
My assessment till I see the 10Q is it is lights out. I would suspect the only thing left will be that bogus patent of Geotraq
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