Correct - the key question is "what's next?"
As we get next to nothing in news (other than payments of "accrued", but unearned compensation) we have to surmise certain things:
1. the supply agreement is (to date) a major disappointment - it could be that the Voraxial IP purchase was a cheap way to keep the product out of the hands of either competent manufacturing companies or competing oil service firms; it could also be that the IP was considered a major opportunity, but it's simply the case that they are very large, very bureaucratic, and move very slowly
2. the best opportunities for growth and profits are in the non oil & gas segments - it doesn't help that PG&E are in bankruptcy, of course, because that just put everything on hold for well over a year; with that said, this is a gigantic utility that has enormous demands and obligations for clean-up - as we have seen, clearance has been given (as anticipated) to install the product so we have to believe that if they wanted further units the barriers to delivery would not be there ... in California, clean-up comes before bankruptcy
3. in about 7 or 8 months the captive supply agreement is set to expire; I had hoped for equipment orders of maybe one per month and, from that perspective, it has been a disaster - I very much hope, however, that negotiations will be starting so as to extend the agreement through 2021 / 2022 particularly with the new(ish) CNC equipment in place.
I have always assumed that the "fracking" market is included within the oil & gas sector but am wondering if there might be instances where it would not be.
In order to justify a consistent stock price of, say, $0.12 to $0.18 we need a good order flow, manageable backlog and the ability to shorten cycle times by learning how to do more than one thing at a time - in other words, develop into a well managed company.
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