The fact that they are already public precludes much interest by a venture capital fund, NOT because they perceive that the risks are too high. Venture capital funds provide seed money, management,and other expertise then typically cash out by GOING PUBLIC or selling to another company.It is precisely because of the unusual way in which this company has evolved, that I believe you and I have the rare opportunity to invest at the "venture capital" level in some very interesting tech.. By all rights this company should have died years ago. Some look at all of the failures of the past and heap scorn upon the company and it's management. I think a more important gauge of potential success is what you do with your failures. They are still here. I think that says something. You and Pumper prefer to look at that as the ultimate $80 million dollar ripoff. I see it differently.
You believe that the 180 degree change of products was a weakness. I think they made the right move by realizing that the technology was better suited to more viscous liquids. Has management made mistakes? Absolutely! Are they smart guys learning on the job? That is my assessment. I am willing to take the good with the bad. While the past is important the future is what I am interested in. If Jack Welsh (former GE CEO) was our CEO, we had a pile of cash and a pristine past I would never have been able to buy shares at this price or less.
I believe the tests at the RMOTC are valid as far as they go. The next step is to see how well the tech. scales up. I'm guessing a non-revenue producing pilot project is next, probably with one of the companies that helped them design the AOT 2.0 I think the criticism that somebody should have been all over this "with both feet if it is so good", is a little disingenuous. First, you cite chapter and verse about all of the companies short comings and then rightfully point out that the tech. isn't completely proven, but seem to think it is an indictment against the company that there is no major deal being announced. I have accepted the fact that STWA is far from a Fortune 500 company. That means that the road ahead will be difficult. That said, the first AOT 2.0 just finished production. Is it a "magic white pipe"? We shall see. That is what makes a market.
One last point. Success of this technology can come in many forms.If for some reason it doesn't scale to a 48" pipe it may work just fine on smaller pipes. If the economics don't work in hot climates it may only be used where it is cold. If the effect dissipates more quickly than current tests indicate, then it may only be put on pipes with pumping stations that are close together. This does not have to work in every conceivable circumstance to be a commercial success. Will STWA's stock go to 100 or to zero..... my vote is somewhere in between.
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