Kontrol Technologies Corp N.KNR

NR - Corporate update

[Mostlyserious]

Not much of a corporate update. Substantively pretty well the same as they disclosed a few days ago and re-read at the conference call. They just don't get it when it comes to investor relations.

Hey, Mr. CEO, how about the more important issue of implementing contracts at a loss? What progress are you making, with blue-chip clients to who you are fruit fly,  to stop doing that? A lender will not squeeze you to put you under and suffer losses.  A lender will throw you whatever lifeline you need for them to get their money, and telling them you will continue having a negative gross margin does not sound like a compelling formula for them to get their money back. if you want to give us something more useful in the guise of a corporate udate.  Or maybe give an update on BioCloud and BioWater.....nevermind.

[Rogg47]

From the NR “We are working closely with our lender..." That's never a good sign.... 

[Mostlyserious]

Some of the "fans" on the other board are trying to convince the crowd that the issue has now been addressed. There you have it, nothing to worry about, Paul's working on options Yesterday, some of them were selling the idea that things were resolved but just were not in writing, the nuance in the press release. I have no doubt that they will be resolved. The question is always at

[Rogg47]

Pumpers are pumpers and they won't change even more with KNR, delusional as always, proven wrong sooooo many times!! 

[navajojoe]

This post has been removed in accordance with Community Policy

[Resilience19]

With such material information, "warranting" a NR, it's surprising KNR hasn't asked for a halt...giving all the specualtive excitement the NR has (or should have) generated... Just being a tad facetious.

[Mostlyserious]

Well, on Nov 14 they let us know about the covenant breach at Sep 30 and that they are in discussions with the lender. On Nov 18 they let us know they are still working on it. I figure we should get another update on Tuesday and every few days thereafter to keep us informed that they are working on it, until an agreement to the solution is reached. Gotta make sure we are informed that they are

[Mostlyserious]

Aren't we due for an update?  Reading the lines and between the lines, P is not only busy with the vendor but more importantly busy with customers. I figure his biggest dilemma is what ro do with $70m+ contracts he bought with Global where under the current conditions he could incurr a loss.  Compared to last quarter that would be $10s of millions.  And that clarification is