I am not sure if you read the letter correctly, but it is going forward. It's good for a company to be in a position to have a great opportunity in front of them that they need financing for than to have nothing. Remember this company is only 4 months old and it will take time to bring in the profits. Patience and a lot of it is required here!
"...we have developed international and national contacts that have shown interest in seeing a completed prototype. This will allow us to be in charge of the end sales and demand a much larger profit for the technology. Whereas, the initial GC2000 project was being marketed at $7 million, of which EESO would have received 25%, by staying in control of the technology we believe the technology will potentially be worth closer to $30-40 million on an initial payment."