I don't think we will get a PR release this week,
and may just get another general notice of having
presented at the Rice Alliance blah blah blah.
I called the IR today and was told no PR was currently
"in the hopper." So there is nothing pre-planned
for release. That means the 10Q will only update the
Plan of Operationwithin it.
In re-reading it, I think that the reason
for the silence is that the company wants to
complete some amount of private(?)financing first,
and then, quote:
Upon the completion of Solterra’s financing efforts,
it will endeavor to become an independent public
entity through a self-directed offering 10Q, P.16
Which means the purpose of attending the Rice Alliance
meeting was to present to a large group of investors,
with the difference between this meeting and the
autumn Rice Alliance presentation, in that Squires
took the criticism of his business plan then, and
corrected the deficiencies, so that now he can come
back and present a better business plan to the group.
It could be he did not attend the Saudi Conference because
his Fall Rice Alliance presentation showed him the company
would be a stronger presentation if he waited until he had
his financial house in order. Perhaps he could not commit
to Saudi contracts until he had the company structure in
place first, both from his point of view, and from buyers
not ready to do business with a company that only had
4 employees at the time and a dream of a product.
If he went back to Rice Alliance with all that behind him...
we still might not get announcements if the final arrangements
for financing with any new investors need to go through
lawyers and back to the board of directors and such.
It does mean that they would be planning
the split into two companies earlier than I thought,
because it would happen prior to each company really
getting down to business bringing in money.
He's got 100 million more shares now to sell and if he then
splits the companies in two, he will have more shares to sell.
He's looking to have the structure in place first.
Does anyone want to comment on what he means by
"a self-directed offering" above in the 10Q quote?
He needs money now for the new hires, the
start of infrastructure building of the quantum dot and
solar panel manufacturing facilities in Arizona, so they
can progress according to the time schedule already in
the 10Q. It does not look to me like he is rushing that
schedule. Squires owned and ran a factory producing parts
and built the company up so he knows the benefit of planning
and meeting benchmarks in an orderly fashion, which prevents
melodramas of being short cash due to too rapid progress,
and allowing time for snags in product development,
among a dozen other things you can't prepare for.
This is all supposition. If I am right, I consider it good
news because he is following his plan on schedule. I am
sure Barrymore and many will say they want proof, and that
what we have now requires blind faith from the stockholders.
We will find out a little more
when the 10Q comes out, but I have no idea when they will
make anything public that we want to hear.
Do your own DD, this is not investment advice.
Puravida!
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