I listened to the call - only 2 low level analyst who did not fully grasp the business asked questions
at these prices and this volume it is the reality the mainstream market has given up on them
only those willing to mortgage their homes (with a $ 250,000 salary) or to average down in a last ditch desperate hope on a fultile penny stock gamble
the so called "insiders" who are buying the debentures are not risking anything now - they are secured with whatever assests will be lefgt after bacnkruptcy
why do they not show a real faith and buy a million shares for $ 80,000 on the market and risk it like you believers - when was the last insider buy at the market ?
Chris Schnarr is very very good at SELLING a dream and PROMOTION and MARKETING and SPENDING other people' s money
He is not a chemical engineer nor has he ever ben able to make a profit
He made many errors in this regard likelast Nov how he was going to produce with asymptote to sell in Feb/12
It is apparent that the reason for $NIL revenue is that to extract Canola Protein from the oilseed using water only is cost prohibitive. It is only the GEA report that hopes wiht 65 more million there may the POTENTIAL to produce profitable comercial quantities. (the word "potential" in their own company description - look it up)
Near the end of the Conference Call there was an admission that it would take up to 18 months (probably 2 years) to re-construct the plant using the JV funds - he said "a significant undertaking"
How will BXI pay bills and salaries during this period wiht $ NIL revenue ?
It is easy to see why no North American company would take these risks and those European ones may just say by December sorry we changed our mind we can't take the chance to finance this
Where will be BXI be with more impairment charges and $Nil revenue
Bottom line : The process is just to costly to produce a profitabel marketable product.
Canola Protein is not commercially economically feasable using the BioExx method.
Were our North American friends like Viterra or Agrium and Bunge and Hormel/Century interested ?