i think what was informative about this qrtly CC was what exactly was addressed
for those who think the naz wasn't addressed it was immediately after the opening remarks and in the Q&A
it's why WSB was retained .. i realize most here unless they have actually been aware of a company going public (same process re: internals/material weaknesses) read upgraded EXTERNAL audit firm as a matter of course and INTERNALS changing due to this external add/review .. may not be familiar with this aspect but it's SOP at this level
all 3 aspects of the co. were discussed .. but what i was listening for was what indeed was said
clue for me was wording ... re: why the *DELAY* besides strengthening internal controls (withum) with the p20
commercial scale .. permit requires a stack test 3 one hour tests .. done in one day .. timing is dependent on all 3 involved (jbi/cra/dec)
has to be running in a steady state to have the stack test done
shortly after the agm .. oxygen levels found to be failing sensors purchased from fortune 500 co. *failed* .. membrane found with optical technology that came from switzerland
worked .. but the TIME FRAME took 2 months as they worked thru various sensors to find the ones that worked
next issue was the gas compression system which was also put in place = p2o is now in steady state
steady state supports data to do the permit
have successfully transformed the architecture to an 89% yield now
consistent with isle chem report ~ butane is also an aspect viewed as a positive by jb
don't want a full blown chemical plant *atmosphere*
plethora of sensors that MGMT has developed currently on co.s processor .. but won't be required per se
2 man operation per shift is the set up .. primarily for plastic waste .. setting up shredders
HAVE A SCHEDULED A STACK TEST BASE TENTATIVELY BASED ON ALL 3 SCHEDULES ~ co.s/dec/cra (wording used is to cover if one of the 3 has to cancel out which was covered earlier in the CC)
it's clear .. they are ready for the test
--- one last thought re: the change out of OTC BB to OTC QX
comment was made by JB re: strengthening financials and current *cash* reserves lasting thru permit and SELLING
i strongly suspect the OTC QX is considered as a stop gap measure until they can uplist to the naz
because while folks are getting wrapped around verbiage the reality it may be an issue of costs (what is the amt charged between otc qx and otc qb .. suspect since they plan to still be sox compliant otc qx may indeed run thousands less per month than otc qb)
again it's irrelevant provided they file .. which was made very clear .. since again the goal is to UPLIST TO A SENIOR EXCHANGE
fyi .. SENIOR EXCHANGE means naz or amex
that was the last question answered in the Q&A
compliance (ie filing) isn't an option it's a requirement contrary to what 100's of posts have stated ... it's very clear this MGMT intends the permitting .. the selling and the uplisting
i plan to be part of that *process* .. been there .. done that a few times over now ..
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