Make no mistake, it was the legislative (tax) changes imposed by the government that screwed this company. This was after encouraging them to build the plants with government grants, pretty sick stuff really. Disgusting waste of taxpayer funds as well, fund an initiative then shoot it down. After the business model it was founded on was invalidated, it's been a case of trying to find what to do, paired with the GFC..
Anyway pretty hilarious response from management, maybe they think we should be happy they graced us with an announcement there was a contract in the first place :). A contract nobody knew they were even working on, but it's not really material information for shareholders, right? Silence for six months, then bam shock the market with hey we've got a contract - doesn't that skirt some disclosure laws (for example, what about shareholders that sold the day before, were they sufficiently informed)?
TEK Price at posting:
2.2¢ Sentiment: None Disclosure: Held
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