The paper out of Columbia University bases the performance of the P2O process on data contained in the SAIC report. That is troubling given the statement put out by the company following the leak of the executive summary for that report. Clearly there remain technical issues that are preventing operations at levels that led to the conclusions in that report. It is logical to assume the same is true of the conclusions made in the paper.

It is all about processor #3 and it's ability to resolve the technical issues.

That and resolution of the management issues that led to the inclusion of this paragraph in the recent 10K:

"Mr. Bordynuik’ s voting ability is limited to certain matters of the Company, pursuant to an agreement with certain shareholders of the Company, however, even with these limitations, he is able to exert a significant degree of influence over matters requiring shareholder approval, including the election of directors, any amendments to our articles or by-laws and significant corporate transactions. The interests of this concentration of ownership may not always coincide with the Company’s interests or the interests of other stockholders. For instance, officers, directors, and principal stockholders, acting together, could cause the Company to enter into transactions or agreements that it would not otherwise consider. Similarly, this concentration of ownership may have the effect of delaying or preventing a change in control of the Company otherwise favored by our other stockholders. This concentration of ownership could depress our share price."