Maybe they will tell us soon. 10K P17 We n

Maybe they will tell us soon.

10K

P17

We need substantial additional capital in the future in order to develop our business.

Our future capital requirements will be substantial, particularly as we continue to develop our P2O business. Barring any unforeseen expenses, we believe that our current cash and cash equivalents will allow us to expand commercial operations at the Niagara Falls, NY Facility as well as implement commercial operations in Jacksonville, Florida, our next planned site. Because the costs of developing the P2O business on a commercial scale are highly contingent on our approach to commercialization, and are subject to many variables, including site-specific development costs and the number of processors to be placed at a given location, we cannot reliably reasonably estimate the amount of capital required to expand the P2O business to the planned Jacksonville, Florida locations or otherwise beyond the Niagara Falls, NY facility. If we are successful in achieving our plans to enter into other P2O industrial partnerships, we may require significant additional funding to execute such partnerships and may not be able to rely on funding through our own earnings. Funding would be required for constructing P2O processors, site specific build-outs and developing other aspects of our business with our industrial partners.

To date, we have funded our operations primarily through private offerings of equity securities. If future financings involve the issuance of equity securities, our existing stockholders could suffer dilution. If we were able to raise debt financing to expand our operations, we may be subject to restrictive covenants that could limit our ability to conduct our business. Our plans and expectations may change as a result of factors currently unknown to us, and we may need additional funds sooner than planned. We may also choose to seek additional capital sooner than required due to favorable market conditions or strategic considerations.

17

I see they are hopeful about having the cash for Florida, but don't know.