Agree Pete.
For me, the two key pieces of info from yesterday and today, justifying the sell down were as follows -
Jim's Interview on FNN.* More problems with the FAB.
* "W
e have continued to encounter some equipment problems. We acquired an old fab. We have a great engineering team, really brought in a great equipment engineer who's helping us to shore up our equipment reliability and so forth. We will continue to invest in that kind of improvement"* Last years Annual Report also mentioned 'reliability problems' with the FAB as well.
Annual Report.* "As BluGlass’ lasers are being tested in customer applications that are concurrently in development, these steps require more time than initially anticipated."
* "Material Business Risk" disclosure.
Yes, the revenue is up from last year (albeit not much of a challenge that one....
) but if the FAB continues to encounter problems and customer testing is longer then naturally 'the road to profitability' is also going to be much longer.
Simples!!!!
GLTAH.
