Attached is the latest photo of the plant with crops from the United Biogenetics Facebook page.
The crops require 6 monts to grow. In the first 3 months the crops grow in the outdoor field. In the last 3 months they are removed to be placed in the special United Biogenetics chambers which must be kept in a specific temperature and humidity range to ensure the maximum outcome of the quality and output of oil. After this it requires another 6-8 weeks to harvest, extract and sell. This brings the process to April, meaning product should start selling now.
Malcolm James has been in Atlanta for the last 2 months, travelling between Uruguay and Canada. I don't know exactly what his business has been in Atlanta but it seems he has been extremely busy. I don't know if the crops are good or bad, but I have to agree with all of you that the communication between the company and shareholders is quite poor. The timeline for the growth and selling of crops has been given in various statements in the last 6 months.
If they can achieve the outcome they have informed us with they will be the first company in Australia to receive the largest amount of profit in a short period of time. This will boost investors confidence in the company.
However, if they cannot achieve what they have told us this will be the end of Algae Tec.
AEB Price at posting:
2.3¢ Sentiment: Buy Disclosure: Held
