By: Net-Man
21 Jan 2005, 05:47 PM EST
Msg. 182587 of 182587
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Here's the update...
There are currently two machines at Princeton and all systems are ready to go. They are waiting for a load of ore to be transported in. Heavy snow and ice jammed river have caused road closures and prevented the truck making the delivery (hwy 3 flooding and ice jam for those that care to follow up). Anticipated shipments to HAL should begin no later than 2/1. Slack time for unknown date for reopening of roads. Cash flow to FASC by mid-March. Mr. Kantonen anticpates 2.5 - 3 tons/hour to be processed per machine. Contract with HAL prevents disclosure of actual shipment quantities and pricing.
A 250 series machine was sent to London. The pulp/paper mills have already been selected, but WRAP had asked they not be identified pending finalizing contract details between WRAP and the mills. Please note the plural.
Malaysia group is currently negotiating a deal with customer.
Mitsui deal "within inches" of being completed. Date was extended to 1/31 at Mitsui's request. Another company has approached FASC with a proposal, which is pending Mitsui outcome. Mr. Kantonen very positive about completing Mitsui deal though.
Mr. Kantonen will be travelling to both Malaysia and Japan next month and anticipates signing both pending deals.
2-3 deals are pending in Poland. These are directly related to presentations made at Firma Codogni.
Lots of paper work related to SDTC, but should be navigated through and everything completed by mid-March. This is a steam generating system at the selected pulp mill. Ages will modify boiler components to work at selected site. Components prior to the boiler will all be Ages/FASC.
There will NOT be another ManageSource or similar company report forthcoming. Mr. Kantonen is waiting for the bottom line to begin to firm up with revenues. At that point his plan is to hire a professional media, non-stock market related to carry the company's message forward.
My take on all of this: February will be a pivotal month for FASC. Several deals appear to be ready to come to fruition. Mr. Kantonen indicated that 3-4 sales should be booked this quarter alone. This calendar year should be very exciting for FASC and its shareholders.
fwiw,
Net-Man
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