My take;
The Heat Transfer Fluid is a hydrocarbon additive to the plastic feed stock. The addition of the Heat Transfer Fluid increases the throughput and uptime for the processors. It may be a spent waste product or a purchased product, it is not clear which. So whether it adds cost or not is unclear, but it will increase uptime and fuel production. The additon of the HTF requires additional government approval, hence the stack test requirement. The stack test was passed with flying colors, so government approval should follow. The only two negatives are the production for Q4 was impacted because the additive could not be used and a good part of the production of fuel in December was lost. So we only have two months of production from #2 and at a lower rate than hoped. My SWAG is now $600,000 for the quarter.
From the sound of things production in Q1 will be at that same level for #2 until the approval is granted for the use of the additive. #1 has a lower capacity than #2 so may SWAG for #1 production will be around $250,000 until the additive is approved, so revenue will be a ballpark of $1.5 million total for Q1 from these two units.
I understand the delay in the completion of #3 was a result of an outside fabricator missing deadlines. Little or no production from #3 pretty much put cash flow positive off until Q2. My conjecture is Q2 will be profitable assuming approval of the use of the additive and #3 operates most of the quarter.
So we encountered a few bumps in the road. There will be more bumps, kinda' the nature of life.
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