Q: Hi, what’s your take on the above, seems to have some momentum recently. Thank you
5i Research Answer:
Market cap is now $381M, after a 200%+ one-year gain. But the company so far has minimal revenue, losses and negative cash flow. It has about $8M cash. Expectations for its plastic-to-fuel technology are very high, but it is hard to endorse its tech without third-party confirmation through actual sales. Insiders own 40%. It is going to need more capital and has signed a term sheet for $20M. It seems a bit promotional to us, and we would be quite cautious here until we see revenue or positive cash flow.