I spent about an hour with David Sparling today and I concluded that Solbec will continue to tread water for some time but on a positive note they will not be putting their hand out for more funds anytime soon. They have money in the bank, land assets and have a very low cash burn rate.
Solec will have a new chairman this month in Dr William Ardrey who should bring a lot of new contacts which should be of benefit. Indications are that he can open a few doors for Solbec.
Funding for start up companies has dried up and there is the prospect that IPOs will fail in this environment. Thus innovators are knock on the door of existing listed companies seeking partnerships to get their 'product' up and running. Solbec maybe in a position to be selective and get a few new thoroughbreeds in it stables.
SBP Price at posting:
0.0¢ Sentiment: None Disclosure: Held
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