Chart, page-3386

The SP is ugly because there is a massive mismatch of expectations between the market and FLC.

We forgot the conservative nature of the waste water treatment industry. There are lots of regulatory hoops to jump through in each new market: heath regulations because it involves drinking, water quality authorities, power, infrastructure authorities, environment impact etc.

If the market expects initial hundreds of units from the outset from each new market, then they have mistaken the nature of this industry.

I suspect as each day passes and the understanding grows and people realises it’s gonna take 5 to 10 years for a company to stabilised, they will decide to jump ship rather than wait around.

It’s a very slow industry. But once it passes muster, the company will succeed. For the newbies, please have a listen to Eytan’s interview again and you might save yourself a lot of disappointment. https://www.waterline.ranlevi.com/2018/02/28/entrepreneurship.

For the record, I invested in 2016 and I have been adding. My last add was 53.3cts.