Brookside has very good points. While forward looking statements from corporate executives are useful in determining company direction, companies do need to be evaluated based on concrete data. In support of Jim, all of his definitive statements have turned out to be true, such as hiring more people and getting army contracts. However, some of his forward looking statements have not bore any fruit thus far, such as the 50-100 pumps a month deal from China and a contract from India.
As for examining the PPS, I would only do so to identify good entry and exit points. It is not a good indicator of the future worth of any pink sheet company due to the ease of which it can be manipulated (positively, or negatively).