Although the production was less than I had hoped

Although the production was less than I had hoped for. 170K gallons of fuel and I was hoping for around 300k Gallons.  Not Good

On the positive side there are waivers and extensions from the side letter. Very Good

They are in discussions for selling procs and JV's. Good

Production is increasing and costs are decreasing. Good

They are talking to a number of prospective board members. Good

The most important tidbit that I think was missed or misinterpreted was the statement by John on the cost to process crayola feedstock. Some people are misintepreting that to mean they pay 3 cents per pound, WRONG. The cost to RUN the crayola feedstock is 3 cents per pound is what he said.

Why is that significant? Let's Do the math:

8 lbs x .03 per pound = .24 cents. per Gallon. 

.24 cents per Gallon x 42 Gallons = $10.08 PER BARREL Awesome!

So according to that, Machine #3 is capable of producing $10 dollar/per barrel spec fuel with free feedstock, which was what we were originally told the process could achieve. Now it's here.  That is huge and that is what is going to sell processors.

I think they are on the right track and I will continue to hold. 

Best wishes and regards to my fellow shareholders.

Spock