Just reading posts on IFlop again, and it seems the arguments have changed. The bashers can no longer use the dilution/scam argument, because the financials clearly indicate no dilution has occurred. In fact, HIMR's financials confirm the share reductions. So now the argument is that underwater tree harvesting cannot be done. However, this argument makes them look like fools, because underwater logging is documented to be going on all around the world already, but on a much smaller scale. Finally, the argument is that no TigerLynk currently exists, and HIMR does not have the money to build one.
In my opinion, the last argument is the only one that is worth discussing. We do know that the steel arm is already built and stored somewhere, because HIMR has a picture of this arm and comments on their website. What we do not know is if all the sections are produced and all the hardware and software is married to this arm. We also know from HIMR press releases that they will need roughly $250,000 to complete the arm. HIMR should easily be able to get this money once the first contract is signed, because the contract can be used as collateral.
Since NorthCal has offered a parcel of land for HIMR to move to their facility, one would think that NorthCal is doing whatever is necessary to help HIMR progress with their business plan. So have they already fronted HIMR money for manufacturing the arm? We don't know. However, NorthCal is tied to HIMR in many different ways, and HIMR's success is NorthCal's success as well.
