Orbite Technologies Inc EORBF

Without Saying Much Magician KELLY Reverses Bleeding

[RichardBoodrow]

After five years I finally thought that before New Years's 2016 we would have a commercially producing plant. NR's by Orbite, VP announcement in press and even an analyst holding shares of Orbite made this announcement on BNN. What has happened since all the hoop la la was a tzunami attack on the suffering long time share holders.

1. A surprise delay because important parts had been held up by a supplier. Incredible, that the CEO, GLENN KELLY, approved the imminent start News Release when he did.. Did KELLY not know that major parts that could cause a big 3 month plus delay for the completion of commissioning were NOT EVEN IN THE PLANT. If he did know , how could he approve an announcement that the completion of commissioning was imminent. If he did not know then as CEO he IS NOT IN CONTROL and Orbite is vulunurable to further major problems. Added to our woes another quarter delay was announced.

2. After informing us at the last CC that there is more than enough money to cover the completion of the HPA plant. We have been hit with a further major dilution of funding necessary for the HPA. If that wasn't enough Glenn Kelly announces that engineers and controllers at the plant find themselves $10 million dollars short to complete the piping and whatever else. Another added quarter was announced without informing how much that might cost the company. 

We are now told that Orbite is in discussions with the government of quebec and IQ to possibly arrange some kind of financing for the extra 10 million dollar debt. Miraculously, for the moment this has calmed our riddled SP. For how long. Who knows. No other company that I am following could have survived and raised the kind of money raises from tax payers. Kudos to Kelly if he could still pull it off. Or is Kelly skilled enough to raise his pay check in the crisis manner he has been doing until now for the next ten years. Time will tell. It will be an interesting story to tell my grandchildren. I can't wait to tell my great grandchildren that finally the HPA plant will be producing imminently. GLTA