I have said it before and I'll say it again: Real companies pursuing cellulosic ethanol spend millions of dollars annually in proprietary research & development and, on occasion, receive government grants to speed things along.
In stark contrast, these guys are riding sidecar on some low-probability research that is done at this University and others all over the place and want us to believe that by spending 15k a month, they are about to make a technological breakthrough that has eluded so many fine and well funded competitors.
I have learned a tough lesson on Xethanol, and they sounded and acted way more professional and sophisticated than this lot, and they still turned out to be nothing but a scam.