I went back and read all the posts that you mentioned and thanks to you and DannyD for some great research. I tend to think that DisplayTek was just some figment in Hilal's imagination when he was thinking he had the holy graille of ceramic production and then found the competition wasnt far behind. But then again, I thought there was just Cetek Technologies and no Cetek Inc, at least of any consequence.
But my puropose in doing the research I've done was prompted by my thought that the value of my Cetek shares, even the batch I bought at .0001 two years ago was zero, nada, zip. The company could be in bankruptcy, and wouldnt be trading any lower than it currently does. Yet, here is a company that has been in business for 20 plus years and acquired two companies Hybrid-Tek and Belanger along the way, seems to consistently employ around 35 people, and from time to time pops up on the bleeding edge of technology, as occurred in the Wilson Turbo project, and now in 2010 on the LANSCE Harp Upgrade project. You dont get get a contract with a governmental agency on a high tech project unless they're convinced you're financially stable and capable of delivering the goods.
So it seems to me that we have a company that produces high tech high quality products that have given the company a good reputation in the ceramics industry. Since there has been no dilution in over three years, it appears, the company is generating enough revenue to pay for what is probably a $2 million dollar a year payroll, and yet the CEO is content to let shareholders suffer through a share price that assumes bankruptcy and that the land and all the expensive equipment is worthless.
I felt for some time that maybe he wanted the share price low so he could buy a bunch of shares back for next to nothing, but that doesn't appear to be happening. While there are occasional bursts of buying in the stock, it is random and does not follow the strict guidelines the SEC requires for a share buyback. So the silence and bankrupt share price seem to serve no purpose at all.
But Hilal is 70 years old and does have a heart condition, so DannyD is probably right that before too much longer, he will have to think about getting his ducks in a row if he's going to get any of the bigger money potential out of the stock.
But as long as we're stuck in the stock, it's nice to know that Hilal is delivering on some of the business promise of the Cetek process and that there's great potential for the shareholders from here if the company is sold or if Hilal comes to his senses and starts buying back shares or providing public information on projects like the Lansce Harp project. Or better yet, he produces some audited financials.
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