I think I read in one presentation that CYC has spent around $90m in the last nine years trying to get technegas approved in the US.
Considering that is a sizeable chunk of their current market cap, I certainly hope they can turn that expense into profit….why should it take till 2025 to turn profitable?
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CYC boasts about being approved in 64 countries (not including the US), and they said their last revenue result of around $30m was a record, , but that means the average revenue earnings per approved country was half a million dollars. why aren’t they more successful at selling their technegas procedure?
I think they finally twigged to the idea of out-licensing it to third parties as that seems to be the big growth area for them…
it is a puzzle that after all these years they are still limping along in the bottom line department.
Please somebody take them over!
CYC Price at posting:
$2.74 Sentiment: None Disclosure: Held
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