Look at the key milestones they have accomplished in the last six months.
"The key milestones that the company has focused on achieving in the last 6 months are listed below: ? Further progress payments for six Opcon Powerboxes with planned delivery commencing December 2010 ? Technology is now refined for Australian standards ? Determining that the most appropriate reference sites are the existing Powerbox operating sites in Sweden ? In initial discussions with a number of industrial, power generation and mining companies for agreements for the roll-out of the Opcon Powerbox technology."
These four sentences only cost us $717,079.00 ...and to think that all this time I was concerned that we weren't making progress.
$700 grand in wages alone, and we have had "initial discussions" with potential customers.
Who knows, another few hundred grand and we might be able to coerce someone into trying one.....sorry, my mistake, we don't have any in the country!
I KNOW! Let?s fly them to Sweden so they can see for themselves how they work in Australian conditions!
Ian Campbell and Greg Pennefather I challenge you to do the right thing and explain the abysmal share price performance of Enerji.
Why did the share price soar to such a lofty height and plummet like a stone taking the hard earned savings of many innocent investors who were foolish enough to take the (apparent) hype about this new leader in green technology on face value?
I see in your report that you have a section on calculation of goodwill. It would not be difficult to calculate the goodwill towards you from the current investors ?no calculator needed ...perhaps a translator for the colourful language.
Don?t fall on your swords, rather, come clean and explain what went wrong and how you intend to get the SP to improve so that those individual shareholders who believed in your story can rebuild after their losses.
A genuine and heartfelt apology would not go astray either.
John S.
VPR Price at posting:
1.6¢ Sentiment: None Disclosure: Held
