I think there are plenty of facts to support the negative sentiment and only pipe dreams to support any lasting hope.
Negative Facts:
1. In over a year LWP has been unable to sign a deal or generate any revenue with its propants despite claiming to have "revolutionary disruptive technology". This is also at a time when the oil and gas industry is screaming for ways to save money.
2. The HSP that most people came and invested in originally has been essentially mothballed for who knows how long. The HSP is to date the only proppant of LWPs that has been fully independently certified.
3. LWP refuse to a. publish or b. get tested the LSP conductivity results which would be a huge boost for marketing and share holder confidence.
4. Pune is being fast tracked despite having no clients to sell to and share holders being told that management would wait for a more appealing POO.
5. We have heard nothing from the PM of Pune since he was hired. Strange that they would hire a PM for a plant they were mothballing but anyway where is he now?
6. Management have a dubious track record with every other company they have been involved with to date.
7. Cash investments have been 100% lost. The latest investment is magically out performing the top managed funds but is undisclosed to SH.
8. Management have decided to diversify the direction of the company completely into a second speculative market without first generating cash flow from the first product. Which funds are used to pay for which product?
9. There is no evidence to be found that the JV partner of Graphera is the owner of the IP.
10. LWP management have stated that they are having difficulty securing the documentation protecting their own IP from their JV partners/workers. We have still not received an update on this.
11. Graphanera is being established in Thailand where management will lose a great deal of oversight and control of the proceedings. What is the benefit of setting up in Thailand?
12. Management repeatedly stated that there was sufficient cash on hand for the next three years working capital and then went ahead with a CR anyway and further dilution in an arangement that will be lucky to generate 30-40% of the stated funds.
13. Share holders were promised a secret "Plan B" that could "never fail". What happened to that?
Positive Hope:
1. LWP MAY be able to sign a JV with an oil&gas company to sell proppants to. Sales would still be 6-12 months away due to Pune not being active yet though. Cost benefits may be lost through transportation costs if the deal is outside of India though.
2. Promised six working prototypes of graphene batteries by Dec. Could be a game changer if true but why do they need to be set up in Thailand? Is the factory up and running yet? Did they just need assembling? If so why Thailand. Is there any status report so far? But COULD be amazing.
Thats just off the top of my head. I know there are plenty more negatives but you get the idea. Basically you're investing in hope here. In the last 12-18 months the share price has done nothing but drift south. If the purpose of investing is to make money what do you see here to provide confidence in said money making ability. There are plenty of other stocks that are providing great returns where investors are deciding to park their money. If by some miracle LWP does come through then invetors will return once it is derisked. There may be a slight premium (unlikely due to all the current holders and day traders looking to take profits) but the premium would be more than covered by the profits you made elsewhere in the mean time.
I hope this answers your questions as to why most people think that LWP is a dog of a stock.
LWP Price at posting:
0.3¢ Sentiment: Sell Disclosure: Not Held
