A brief update seems appropriate as plans as described are – as per the norm – being dragged out somewhat.
As per my last missive, I am working to put in place a multi-strategy wind up that hedges our bets as best we can, given that we now have to accept that we’re somewhat doomed in terms of the commercial value of what we’re producing.
My own personal ability to inject budgetary funds into the company to get things done remains the main stumbling block. I am simply not prepared to get deeper into debt trying to see things through and that’s all she wrote.
I had most sincerely hoped that a contact with strong distribution in Taiwan and also a developing network globally would present a simple, one-stops solution to our issues and we could hand it all off en bloc and reduce Aequus’ responsibilities to simply reporting progress month to month. This company has now finished its trial production of oil from pre-ground powder we provided and, to quote them: “we are now moving into the enhancement and selling stage.” That is more than 3 weeks later than originally envisaged but there’s nothing that can be done about the delay so we’ll sit back and await the results of their enhancing and selling. We do need to set other hares running though and the way things are playing out with this trial gives emphasis to the wisdom of so doing.
Nonetheless if this company comes good then as a preference it will become the mainstay of our route to freedom, subject to general approval for such a proposal and so here’s hoping that the enhancements produce sales at the right sort of prices.
In terms of our other options, we have facilities for processing available and on standby. Only having the budget in place remains outstanding and that is being worked upon. The original plan was to see processing commence in April. To a small extent, part of that plan did come to fruition but if Aequus is to now oversee the remainder of the processing then that can’t start until funds are raised and, as has been made abundantly clear to all from previous updates, that seems to be entirely down to me personally and – that being the case – it will happen when it happens. I am still targeting May but I am struggling and would be doing you a disservice were I to pretend otherwise.
Assuming this can be brought back on track there is still another option available to be presented finally as one of three or possibly even four options from which a choice of one or a choice of several can be made. Clearly this list will not be complete until budgets can be set aside to cover processing on our own part but perhaps under the general heading of “needs must” self processing may need to fall from consideration. That removes key control data to keep our other channels honest but we do already have data from prior in-house endeavours as well as multiple alternate sources so this is perhaps not as key to success in the final analysis as I might as an individual believe it to be.
The third party hand-off remains the preferred option for obvious reasons. But not at any price. There has to be proof that it won’t be another blind ally and proof of ability to deliver. As at the time of writing I have become somewhat sceptical but will temper my cynicism and await audit trail to show (or disprove) general suitability and will present the options to you all accordingly.
Fire-selling remains a legally acceptable option – and arguably what we should have done in the first place – but it is not an option that benefits anyone (except, perhaps, Aequus).
There is still a longer term option of rolling of the dice which combines a fire sale with capitalising upon our experience i.e. sell the oil cheap but instead of paying out at that point, reinvesting into new trees wherein there is a track record of production and sale upon which we can leverage our returns.
These decisions will be decisions for the Board of the Funds and, indeed, perhaps will be put to you the beleaguered investors. I can fully understand the announcement of a two-year plan to enhance recovery being greeted with no more than mere jeers; but we have to face up to the lack of value in our current holdings. We can attempt to enhance what we can now produce by “blending” (as previously described in updates) and that’s our quickest route to a solution if… and I stress… IF we can find a reliable partner in such an endeavour.
Meetings occurring over the next fortnight may bring some comfort in such respect. All we really want now is out; and I am sure that some amongst you reading this will be at a similar mental point with it all. Let us not forget though that a longer term solution might also involve legal action against the architects of the technology so there is still a longer term fight to be fought if anyone has the stomach for it. It will doubtless not be for all though, hence the current efforts to bring this to a head now and then let final decisions be made no matter how less than ideal or far from original intentions.
Following the meetings with vendors scheduled for next week and the week after I will update as to my views on how this should wrap up quickly and we will, one hopes, have had some sales through from our trial producer.