Co2 Solutions Inc COSLF

Things to consider. Anyone have another perspective?

[Co2Harvest]

Please forgive my negativity lately. I'm trying to remain positive but it's getting tough. I want to believe in this company but here are some things driving my outlook that I think are worth consideration. For full disclosure, I'm still holding my position for the time being. I welcome anyone's perspective on any of this. 1. The April 1 curtailment announcement mentions that the committee with E&Y will examine strategic options that "may" be available to CST. That tells me that on April 1, there were no known options and that they were looking for help to know what their options were unless someone can tell us this is normal legalese? 2. Recent share price drop... Could one of the options be a lot more dilution, and did someone possibly anticipate that over the last week? 3. Management decided to lay off staff that could have kept projects moving forward rather than cutting their own pay. I'm trying to see the logic in that considering that CST is most likely not a sole source of income for Evan Price. If they do get funded they will need time to re staff. 4. The $375k NRCAN money given in Aug 2018 to continue refining the enzyme appears to have been pulled or cancelled because the news announcement no longer appears on CST's website and there is no mention of it on NRCAN's site either. It was a non-refundable contribution. I take that to mean that it wasn't a loan and that the only reason CST would give it back is that they didn't have staff to continue the project (see point 3!). 5. Lack of public interest in CCUS due to its reputation for saving much-hated fossil fuel companies doesn't seem to be getting any better. 6. Lack of initiative from government to drive stable policy. 7. "Partner" companies like Total SA have their own CCUS R&D arms (i.e. in a way, they are the competition) and have also been working with CST's competitors. 8. Do we know how readily the enzyme can be mass produced and at what cost? Is there something we don't know? CST states that their enzyme will work in any solvent-based system so why hasn't anyone asked to try it? 9. A continued lack of communication with shareholders - e.g. no updates on Serres Toundra after 2/3 of the demonstration period. Are all three parties bound by an NDA? I'm hoping that's all it is. 10. Glenn Kelly. Orbite appears to be toast, I'm trying not to let that influence how I view him as chairman of the board for CST but it's a hard thing for me to ignore while CST is in curtailment. 10. Other provinces largely ignoring CST. The "partnership" with Alberta seems tenuous at best. CST is getting more recognition from the other side of the globe than they are getting from their next door neighbors. 11. The competition - regardless of how good or bad their tech is - is signing deals. 12. No news on the lawsuit. Did they pay their bill, did they settle, or did they end up in court? An update would be nice. They owe $1M, so it is material considering they are in curtailment (and again, see point 3 and consider that Evan Price is paid north of $400k - i.e. nearly half of what they owed to the vendor). 13. We should have roughly 2 months left of the demonstration period at Serres Toundra to go before CST starts earning money. This should be positive and I would like to think it improves their chances of getting funding? 14. Resolute had received a sustainability award, and Serres Toundra is part of the reason. That must mean it's going well - i.e. everyone is assuming no issues because the award isn't waiting for the demo period to end. So why isn't this being considered a major Canadian success story? 15. Better, cheaper and faster, right? Coal21 gets it. Why doesn't anyone else get it?