I liked the story and continued to buy but have become concerned that the Chinese contracts are not emerging. Then we get an announcement they are setting up a reference plant. Yes people like to see it. But what was all that talk earlier about Chinese partners ready to roll out the plants as soon the the manufacturing commenced. A friend who I introduced to the company and had a small holding has seen the various announcements and his view is they can talk a lot and are good at sales. We now need them to get the orders so that installations can occur.
I think they got ahead of themselves, about a year, and we are seeing the folly of believing the words rather than the reality.
We have the manufacturing plants.
The starting point is signed orders.
On this, the management seems silent.
FLC Price at posting:
61.5¢ Sentiment: Hold Disclosure: Held
