Bit of a long bow there PA, the company did not make the announcement about 'dead ducks' lol
The Sarich Orbital engine has a number of fundamental, unsolved problems that have helped keep it from becoming a practical engine. Amongst these are key components that cannot be cooled and others that cannot readily be lubricated. It is very susceptible to overheating. At one press conference where Ralph Sarich presented the engine, automotive engineer Phil Irving (designer of Vincent Motorcyle and Brabham Formula One engines) pointed out a number of technical reasons why the engine would not work (eg, excessive pressure in contact areas).
The managing director responsible for the need for black ink, Peter Cook, could not say when the company last reported a profit, as he only started in January 2002.
"Everyone has been asking me, is this the first profit, and the answer is, I don't know," he said yesterday.
"The company secretary thinks there may have been one in about '92 or '93, but we're not sure," he said with a laugh.
Pretty well sums up my thoughts on management, sorry to drag over old coals.
BTA Price at posting:
$1.28 Sentiment: Buy Disclosure: Held
