The info you received from the Army about selecting AFT is unclear. What are they selecting AFT for? Simply an extension of a current SBIR contract? A new SBIR contract under a new topic? What is this future fuel injection SBIR they're supposed to be awarded? Is it related to topic A09-199 for which they've always completed a phase II? My problem is that we shouldn't be guessing. AFT doesn't need to release PR fluff to get the stock going. They just need to keep us shareholders informed of the bare minimum which includes:
1) Any contracts that affect AFT'S balance sheet. This includes who the customer is, what the service/product is, and how much AFT will receive for doing it.
2) Structural changes in the business, such as the loss of company officers, or a change in the lines of business.
3) Timely financial reporting
Things like contract negotiations, new hires (non-officers), financial predictions, and other company info is nice to get but not required. However, the above three are required of a public company.
Now, the defense has been made that AFT can't speak about confidential projects. Let me just say that, as a Federal employee with a classified security clearance who works with companies involved with classified SBIRS and defense contracts I can say that this is a weak excuse because any confidentiality restricts the specific details of the work but not vague details of the overall project. For example, Boeing routinely works on classified projects (which are much more restricted than simply confidential projects) such as fighter jets and reconnaissance craft. Boeing does not release specific details of the program, such as the final aircraft designation, any specifications regarding max speed, altitude, etc., or even who their vendors are that are supporting the project. However, they would release to shareholders that they have secured a classified contract with the U.S. Air Force to provide them with a new classified aircraft worth $4 billion. Similarly, when AFT negotiates a contract with the Army for XX JP-8 pumps for $192K, they should release that as well or if AFT is working with Ford they could simply release something like AFT has secured unspecified work with Ford valued at $500K, details of which will be announced at the conclusion of the project.
Don’t misunderstand, I think AFT has a lot of potential, otherwise I wouldn't have invested thousands of dollars and waited years for a payoff. I genuinely believe that one day this investment will net me a tidy profit. That said, I am not blind to poor service. AFT gets a D- when it comes to behaving like a responsible public company. The company neglects its shareholders by its failure to provide us with the bare minimum of information regarding its future. Fortunately for them they have shareholders determined enough to pick up the slack but we can only know so much. It may turn out that AFT never really improves in this area and we don't find out about a major AFT contract until we check our trading account balances and see it's up a million dollars.
I suppose I could live with that.
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