Ann: FLC procures first Aspiral contracts with ITEST in China, page-39

Thanx for replies.  In late 2017 after months of sustained downtrend I decided to back read ann's released by this company, and it's predecessor, to see if there was an explanation to be found.  That is when it became evident to me that myself and likely many others had been sucked in by repeated earlier misleading statements issued by the company indicating that sales of thousands of mabr modules in China was just around the corner.  I do not know the extent of Richard Irving's role, if any, in penning those misleading statements.  He is a major holder (whether thru early seed capital and/or options issue or whatever I do not know).  In any event the misleading ann's caused a spec run that propelled the sp to over a dollar except that the price never had any chance of staying there if none of the anticipated major sales materialized.  The ten million or so options issued to Henry during 2017 did not help the situation either as that is when the sp nose dive began.

Subsequently I made some reference to google, as anyone can do, and discovered that the Chinese are actively installing MBR and other systems and have been doing so for many years now.  Fluence I guess has been hoping to get maybe a few percent of the market, but even that appears increasingly unlikely as time goes by.  

As far as Chinese sales go It does not help in the current geopolitical climate that Fluence is US headquartered, or that some of the Chinese water treatment providers are part owned by the Chinese govt. who will obviously favour them eg...

"A PPP-based financing model is encouraged in the 13th FYP for comprehensive environment treatment projects in rural areas. This works in Origin Water’s favour since it has the China Development Bank (CDB) as its third biggest shareholder and has a design institute and engineering company as its wholly owned subsidiaries, giving it the power to secure PPP projects in-house by taking sole responsibility for financing, design and construction. “Rural wastewater treatment is a huge market with fierce competition,” observed Liu."

  For months I have just hoped the company might score one or two medium sized contracts in china so that I can get out without loss.  I don't like being in companies who have directors that issue blatantly misleading ann's, and I don't like losing $ because of such persons either.  So it is a waiting game for me, to hopefully one day get out without loss, but sad about the losses caused to others.  regards.

These are some links that showing extensive and long standing use of MBR in China.  Anyone can google the subject.  

https://www.cosmosscholars.com/images/IJMST_V2N2/IJMST-V2N2A4-Zhang.pdf

  https://www.waterworld.com/articles/wwi/print/volume-26/issue-3/regulars/creative-finance/mbr-technology-propels-china-into-water.html

https://www.filtsep.com/water-and-wastewater/news/memstar-to-supply-membrane-products-for-chinas/

https://link.springer.com/article/10.1007%2Fs11783-010-0240-z

https://www.thembrsite.com/largest-membrane-bioreactor-plants-asia/

https://www.researchgate.net/publication/270273691_Engineering_application_of_membrane_bioreactor_for_wastewater_treatment_in_China_current_state_and_future_prospect