Ann: Options Prospectus, page-14

Income is indeed the key and this loss making entity has nothing to show thus far that would lead the average punter to believe that will improve anytime soon.
Have a look at the latest stats from the B-Cycle programe and you'll begin to understand the long haul and the very real need to have strong financial (that means cash) foundations to venture into battery recycling.
6 Months from launch = 900 tonnes batteries from 3,200 drop off points serviced by 8 collectors/recyclers with 15% Lithium and 72% Alkaline.
Not to have a crack at the scheme, well done in getting it operational, but the message from the reported stats are that it's going to take along time to ramp up, and for Envirostream, with Li being the main target, well 15% shared between a number of players just doesn't stack up. They need way more than this - way more !!
I'd be nervous around the numbers - very nervous.
The only possibility is to pocket cash from the collection and sorting services and that seems to be fought over with some level of agression I am thinking.
Sure seems to me there's bugger all to be made in the "recycling" arena at this stage and it will only take one or two more "together" players to enter the market and - wham !! - this baby is taken out. Add to that those funding the Scheme (importers etc) and how long they will accept poor recycling numbers.