Could Jim have really been that big of a liar that we seem to have gone that far backwards? What happened to the low hanging fruit DK was going after? CXO has got to be laughing their butt off...........I would of rather had no update. Leitrim is right. We're back to square one. More testing?
A careful reading of the CEO update reveals the following (IMO): 1) There is not yet a "hard" design for anything---so much for the production ready comments of several years ago. The closest is an edition of the rear wheel drive ISO for which some after market sales are expected in 1'st quarter of 2013. 2) It looks to me as if the front wheel drive ISO is at least a couple of quarters and probably more like a year behind the rear wheel model. 3) Given the time needed to gather the real world info and then hopefully get a contract signed I would not expect any significant dollar developments for at least a year. 4) The pump development trails the ISO and 2013 is to be a development year for this product.
The bottom line: The company is now where it should have been 10 years and 10s of millions of squandered $s ago. It still dazzles me that the Board of Directors in general and Jim in particular thought they could sell a set of drawings and a video of a car climbing a snow covered hill for several gazillion dollars. And yet to the best of my knowledge no one at that time told the brothers G they were delusional and quit in protest.
Having said all that I did buy a couple thousand (2080 to be precise) shares this week at $.80 so I'm back in the fold. The current management team may actually get this company up and running but IMO not for at least another year. Zendo
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