"he has slashed costs through head count reduction, inventory management cost and controls"
Was he being truthful on November 8 when he signed the 10-Q, which said:
"Additionally, as the Company continues our strive to commercial roll-out, we have slightly increased our headcount."
or 8 DAYS LATER, when you reported:
"He said he has been and continues to work diligently to reduce costs and has reduced head count as part of it."
There were more dollars in raw materials than in finished goods at 9/30 and the sales value of finished goods was reportedly greater than the revenues for the entire 3rd quarter, whether they were all fuel or not. Which of those relationships represents what you would consider good inventory management?
(BTW, despite any "misunderstandings" regarding the sales value of those finished goods, if one were to accept the touted $10/bbl cost of goods....something that the financial statements haven't borne out at all...the $75,891 in finished goods at 9/30 would convert into $750,000+ in Q4 revenues. If that was true, there would be WAY too much money invested in inventory at 9/30 given historical and even the frothiest expected revenue levels for Q4.)
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