I don't disagree with you at all, Tanne.
Even thought they now have IPA which does actually generate more profits than DMFCC and Ionfinity combined currently.
If they don't get contracts from at least one of DMFCC, Ionfinity, and VGE then it will only reduce their 5 mil per year burn rate by 1 mil a year and the company will continue to operate at a loss. So they will need at least a contract worth $4 mil and likely $6 mil a year to break even.
This is a real concern, and the longer it takes to get contracts the greater the fear that they will have to use real dilution to stay funded. Especially now that they are using up a good chunk of their reserve to buy GKG. And based on what I know of what will be left of that reserve they have about 2 to three years before they use that up if the burn rate remains the same, to make this all work. If they can’t then they will likely have to increase the A/S, not good.
But keep in mind that this company does have a Market Cap of $24 million with $12 million of goodwill just for IPA and GKG license on the books and, the majority ownership stakes in two companies and soon a third, and the value of all the patents to some very good technology worth a lot of money.
On top of that they have some of the biggest players Samsung and General Dynamics already using their tech. Both of which IMO would pay good money for the patents & licenses just from DMFCC and Ionfinity. Samsung alone would likely go into a bidding war against Toshiba for those patents. Plus you still have DP Clean Tech or others that would likely pick up the GKG just to keep their competitors getting a hold of it as well. There is more value to this company than most people realize.
So if Dr.K wanted to retire or VSPC could no longer wait to gain contracts and had to sell. Then I think they would have buyers and the company would be worth enough to insure investors would get something back if not do well. And since this company IMO is undervalued the majority of investors that bought in at levels that I did should do okay.
But again that is a matter of perspective as the situation may be different for people that are holding from much higher buy in levels, and they may have to wait sometime to see their investment grow even with good contracts.
As to VSPC making us rich quick you are likely very correct on that as well. Based on what I know of the company and their burn rate $4 to $5 mil a year even a DP Cleantech contract for grass of say $10 mill a year will only likely translate into a profit of about $2.5 mil a year when all expenses are covered. I am invested in another pinksheet company called VTSI that has clients like the US military and Lockheed Martin and has a very similar history as VSPC and they are just now reporting that kind of revenue over the last year and a half and are only trading at $0.10 pps currently. But the they did go from $0.04 to $0.10 in about 4 to 5 months recently.
But again this is a matter of perspective a similar move as what I just described will take my $2000.00 + play to $14,000 dollar range, so yes not rich but nice. Another poster on here as I think has 2.3 million shares all of which he bought at $0.03 levels and below that could translate into $230,000.00, play not rich but a lot closer. Again, we are subject to the whims of investors, the example of VTSI took 5 quarters of profitable growth and each one being better than the next and they just reported their sixth improving quarter and the PPS didn’t even move to everyone’s disappointment. But, if you compare both companies VTSI and VSPC , I think you will see that VSPC has been a better run company and actually has more potential.
Anyhow, I respect your opinion and enjoy this debate. As I think you have really thought this out and I think it helps the board to maintain a level head including myself. I encourage you to keep us informed of your opinion as we go along as I think it add value to this board and is needed.
Thanks and good luck,
T9F
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