I believe the big difference is that it has always been overvalued. The other big difference is that they have eaten all the investor dollars and none of their projects are generating enough cash to even cover the debt service. Tough to eat equity and they need to eat. Same story as a long list of folks who failed with the exact same business plan.
The pipeline is a figment of someone's imagination. It is SO EASY to just write down a list of potential projects and even obtain LOIs. The BIG PROBLEM is funding!!! BLSP has run out of investors willing to fund projects. The reason, pretty simple, the projects they have completed have be technical and fiscal disasters! MONEY does not like failure and everyone of the BLSP projects has not lived up to their projections, not even close.
Holland requires a huge investment from someone. BLSP has no money so this one is another pipe dream.
I could be wrong, but history is normally a very good gauge of the future. BLSP's history is NOT GOOD.
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