Yes... I probably even owe apologies to several well known
early critics of BB who were not always appreciated for being sceptical of BB & LNGT.
I was a staunch vocal LONG believing that the technoilogy could overcome what I then perceived as the innocent missteps of a CEO better suited for the lab than the head office.
However, the SHEER VOLUME of unmet deadlines, unrealized milestones, and unconsummated 5 orders that were to usher in 2010 finally got through & into my thick skull.
There are two final straws that turned me from supporter to sceptic awaiting confirmation that DL WILL SUCCEED, rather that presuming that it ultimately will succeed (regardless of BB's BS)!
Those two straws:
1) There is no WAITING TO BE NEEDED fully dedicated production line (for LNGT's DLs) at GD-ATP in Charlotte, NC... a 1-2 hour drive from my house.
2) The GAGGING of the TA for LNGT!
While positive and hopeful are the sales of DL to PBPD & LVHC... it is now over a month and still no delivery of a mere dozen DLs.
Odd when LNGT is able to meet small orders in-house (presumably in a timely manner), and GD is supposed to be at the ready for VOLUME production ASA Battis coughs up $2.6M.
We also MIGHT be on the verge of some govt contract to LNGT for lasers... either DLs or perhaps the other biohazard detecting project now lingering into 2+ years and counting... but now worth awaiting confirmation, rather than presuming that it will happen.
Personally, I have no problem with LNGT selling shares to cover operations while in development of commercial products... many start-up companies do that. It beats taking VC money from predatory VC groups that ultimately destroy many good fledgling companies.
In fact, the LNGT share structure is NOT even now what I would consider obscene for a pink sheet stock. However, gagging the TA suggests that it might become an obscene number behind shareholders' backs.
If that is NOT the intention of Battis and crew, then GAGGING the TA is JUST PLAIN STUPID because it creates doubt & places LNGT into an unsavory group of pinkies!
I will go on record as one LNGT shareholder who is highly indignant that Bob Battis uses LNGT money to finance & facilitate Da Bangers under the guise of PR expenses!
How much (unaccounted $$$$$) has been spent on that hobby Bob Battis' personal indulgence over the last few years? I suspect a big bite out of that $2.6 million needed to pay GD for an assembly line to manufacture DLs!
We're pretty sure the burn rate for routine LNGT ops these days is about 2.5M shares a month... & we also know that BB needs the $2.6M for the GD agreement!
While I am hopeful about LNGT's future, I'm also a practical realist! To fund the GD-ADP manufacturing line, Bob MUST SELL almost 45M shares of LNGT (at today's PPS) to raise the $2.6M.
So looking forward for a year... in the next year Bob probably needs to sell 45M shares of LNGT just to keep up with burn rate and have quantity capacity to manufacture DLs.
Of course, THAT is based on the premise that LNGT shares will remain at the current PPS indefinitely.
IMHO... if Bob gets a contract that is PRd, there will be time enough for anyone who wants to add or BUY IN to LNGT. Why?
BECAUSE it will take a lot of $$$ flowing into LNGT to lift almost 375+M shares higher with a GAGGED TA & no help from the iHub MOMO players who won't touch GAGGED TA stock!
Less money & more risk for the flippers... slower PPS increases & more time for those who want to GO LONG and hold for whatever ride is ahead for LNGT.
I am truly saddened by this new reality for LNGT as I see it... after being LONG since 2005 (or thereabouts) with varying numbers of shares, this is really hard to accept!
There has been a great group of faithful LNGT board posters here... including most (but not all) of the critics... I appreciate all the shared information. GLTA... and I still look forward to reading the LNGT story as it progresses from here.
Maybe the technology is still GREATER than LNGT's Boob!
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