FBR General Discussion, page-6270

I'd expect the SAT might be completed within the next week. Assume the engineer will be able to verbally sign off quite quickly as presumably most of the sign off is visual. Assume any technical details (eg. evidence on bond strength/longevity) will be provided prior to build. Enough to start progressing the next steps. Might take a bit longer for the formal write up which presumably would be required prior to starting actual builds. This is all a bit of a guess. Has the building method already been signed off as meeting code ? So engineer is just signing off on this build which assume is a smaller deal ?

Expect there will be a bit of a delay to start builds, but then should proceed quite quickly through the 5-10 builds. The builders who will participate in the builds are likely already agreed and will sign on the bottom line for actual builds when SAT / engineering sign off completed. Expect the delay will be the builders will then determine which house builds will be completed with Hadrian X. Although given the number of houses they build, should not be a big delay.

The reason I say this is, I do not see them having already decided house x,y & z will be built with Hadrian X and now be sitting with laid concrete slabs just waiting. As there is no certainty on timing for SAT completion / sign off. So why have a 10 builds on hold when these could be progressed to completion and sold. Nothing in it for builders to hold up on any of their house builds waiting on FBR.

Also last thing FBR want is to do is promise a timing for the builds and then not being able to deliver due to say delayed SAT or sign off. Key outcome is these builders being excited by the speed, accuracy, lack of waste and ON TIME supply of the service. Confirming to JV the desire to use this service.

Anyway this is my view.

Sure there will be others with a more aggressive view on timing, however FBR's history shows they take a logical low risk stepped approach. Taking a few extra weeks will not make much difference if it ensures the signing of a JV.