What would you like to see in that update? I almost think it would be better to wait for the 10Q filing unless the update includes cost information. In other words, I think this company would do itself a big favor by just being honest about where they are at with the process and what problems need to be solved including cost. Presenting an incomplete picture that implies great progress is being made only to fade when the complete picture is known does the company no good in the long run. I think things would be dramatically different around this company if they would have used a fully transparent approach as they always promised. And that means there is bad news sometimes and hurdles ahead. Instead we are regaled with silly boogeyman excuses. It just looks silly and lacks credibility.
Nobody expects a perfect pyrolysis process but that is exactly what John Bordynuik promised from day one initially due to a catalyst he found and then due to endless tinkering. But again Bordynuik is the one who set this expectation. And you could chalk that up to youthful exuberance but surely as 2011 wore on and the issues started to show and then into 2012, a little honesty would have gone a long way. But we are always told after the fact about how the problem existed but is already solved. Only to discover in the next filing it really was not solved but is solved for next quarter. Rinse and repeat. That is what wears on typical investors.
So I think a detailed and honest 10Q would be more valuable than an interim update. Especially considering the last one cherry picked information that left out critical items for a real evaluation. Just my opinion.
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