I like your thought processes. I had not thought o
Post# of 43066
Posted On: 10/26/2014 1:40:48 PM
Re: techisbest #15318
I like your thought processes. I had not thought of the possibility that they could be at the construction site.
The way that PTO has done business here is out of the ordinary. Normally you don't start Long Lead items like this unless you are going to proceed with the project. Likewise, you don't crow about having ordered parts in Financial Statements unless you are going to proceed with a project. That is very amateur. It is attempting to create some kind of positive news where there really is none. Investors should realize that this is just incurrring expense for no good reason.
If the processors are 75% complete, their being completed would depend on whether or not the vendor has been paid, or there is a contract in place to complete them. If they are being stored by the vendor, that will incur storage fees. If not paid, eventually they will be scrapped.
My best guess is that the idea to proceed with these LL items was made by JB prior to RH taking over. RH applied a bit of rational business logic and put a halt to the Procurement process. Concurrent with running out of money, His first step (selling processors) was just a simple matter of recovering money spent. I don't think that is realistic. His next step has been to involve an engineering company to investigate the business prospects (this should have been done at the outset).
I am not sure what the future holds.
The way that PTO has done business here is out of the ordinary. Normally you don't start Long Lead items like this unless you are going to proceed with the project. Likewise, you don't crow about having ordered parts in Financial Statements unless you are going to proceed with a project. That is very amateur. It is attempting to create some kind of positive news where there really is none. Investors should realize that this is just incurrring expense for no good reason.
If the processors are 75% complete, their being completed would depend on whether or not the vendor has been paid, or there is a contract in place to complete them. If they are being stored by the vendor, that will incur storage fees. If not paid, eventually they will be scrapped.
My best guess is that the idea to proceed with these LL items was made by JB prior to RH taking over. RH applied a bit of rational business logic and put a halt to the Procurement process. Concurrent with running out of money, His first step (selling processors) was just a simple matter of recovering money spent. I don't think that is realistic. His next step has been to involve an engineering company to investigate the business prospects (this should have been done at the outset).
I am not sure what the future holds.
(0)
(0)