$557K paid to Eden India for "cost of goods sold, research & development, inventory and overheads" when not a single sale was made, and Eden is of the view that the Indian gov't is only "apparently" supporting Shale Gas exploration is ridiculous. Why spend any money in India at this time given that the company only has 1 qtr of cash left?
$136K paid to "Directors and Associates" in just 3 months to oversee:
- the sale of 5 Optiblend units; and
- sitting by the phone waiting for (no) news from Shale Energy
is also a bad look.
1. Stop spending money in India.
2. Get Optiblend Sales up to $750K per quarter in the US.
3. Buy time until someone in the UK makes you an offer too good to refuse (or even just one that involves actual money).
4. Then worry about conquering India, the rest of the world and carbon nano-tubes.
Free advice that should save $136K for next quarter.
GLTA.
quarterly report, page-3
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