RE:RE:Davis Recycling Regenx management told investors that getting catalytic converters would be no problem because there were mountains of them out there that no one wanted, and Davis Recycling could get all they needed. Now management tells us that the process is working but they just do not have enough "feed stock" to run at full production.
I call BS.
We know for a fact that most of management's "forward looking statements" have turned out to be wrong. Were they lying to us? In theory, "forward looking statements" can never be lies. However, given the way management has mislead us in the past, here is my most likely scenario.
1. The process still does not work. Sure, they may be able to operate at "full production" for 1 day, but then the vats and pipes are likely clogged with sediment that likely takes a day to clean out. I see no evidence that this process can run continuously.
2. My guess is that there are plenty of low-grade catalytic converters available, but the low-grade dregs do not produce enough platinum to allow the process to reach breakeven. The mid and high-grade catalytic converters probably cost a lot more money and are more difficult to obtain. I would also imagine that the refineries are happy to take the high-grade catalytic converters, so the cost of obtaining those makes the Regenx process uneconomic.