Let's Not ForgetIf things are so bad, then why would insiders subscribe for approximately 10% of the last private placement in March? I believe that placement was announced as closed on 03/27, a short 4.5 months ago?
What has occurred in these last 4.5 months to make things appear so bad to some of you? Well, the plant was just completing processing the Jabil feedstock and was to go into production to actually generate revenue. In fact, they were projecting netural cash position by mid-year. No feedstock due to COVID, no revenue due to COVID, cash burn due to no revenue (due to COVID).
Snipit from the latest Morgan Report: "It is important to note that the ETI pilot plant has been operational since November 2019 and received certification December 2019. Between December and May, ETI's facility was dedicated to run Jabil sourced material. We are seven months operational and commenced focused marketing to recyclers in late March 2020. Due to COVID, the supply chain status across multiple industries has been compromised."
Who knows when the Jabil interest softened, but Duane indicated (in the most recent interview in July) that he still believes a deal with Jabil will eventually occur. For those who disbelieve everything that Duane says, you should probably just sell the stock and move on.
Did you know that the new Jabil management in JET is not on-site at ETI due to COVID constraints (at least as of end of July, I'm not sure if it still is true)? Hmm, seems logical that could slow down a deal with Jabil.
I understand that investors, including myself, are discontent - however, I don't believe there is as much gloom and doom as some of you like to post.