FBR Charts and Technical Analysis, page-170

Not sure that news of completed display home will get the price to 10 cents though unless quickly followed by WB JV or binding construction contract.

Completed display home assists to confirm the engineering tech, but many are expecting that to be achieved. I am sure FBR will find a way one way or another in similar typical fashion we have seen in the past with the performance milestones. I see the display home as merely a small step in the road. A binding contract with UAE/ KSA / Archistruct or with Summit to build real houses for people to live in would be much more important.

BTW: And none of those options means to me that the houses comply with a building code. There are many examples of buildings getting occupancy permits that do not comply with the building code. For me now, the entire argument about does it or not comply with a building code is not relevant to the question on if FBR is a good investment or not for the next couple of years. From investment point of view, over the long term building to code is vital for the reputation of FBR, but not right now. WB JV or binding construction contracts assists to confirm the FBR future and to me is much more relevant than the display home.

Lets assume all the above happens during 2020, if none of that leads to seeing a revenue number in any of the quarterlies during 2020, then the share price will get rightly hammered. For milestone C performance shares, I am expecting to see $10 million in revenue into FBR (not in the JV companies) across this quarter and the next quarter (that finishes June 30, 2020). If no revenue is recorded in the quarterlies, and the C performance shares are awarded in Nov 2020 then that wouldn't be a good look IMO.