It isn't a pretty picture so far this year. When production ramps up to the target of $30M/year that was indicated early this year economies of scale should kick in to put us in gravy. What bothers me is the stream of rosy announcements followed by deathly silence on the action front. We are still burning ~500K a month long, long after I expected us to be cash positive with very little in the way of explanation. To put it bluntly I simply don't believe any forward projections issued by this company.
We've had a new MD now for 6 weeks with nothing to indicate that he's making it his own. Where's an announcement with targets? What is happening? When will we be raising production? The only announcement I've seen is reporting now reduced to every 3 months which means we only get bad news 4 times a year.
Oil and biodiesel make a good investment story, we need this company to match actions to words.
TEK Price at posting:
1.4¢ Sentiment: Hold Disclosure: Held
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