Thanks ks. First of all, I just recommended Jim's post because I think he is dead on as to the reason for the increased interest recently, and I can't argue with his view of the stock's short-term prospects, either. In addition to the IHub post you linked to, I posted some fairly frank criticism of NEIK and Wilson Russell on IHub, and apparently someone called his attention to it because he emailed me about it yesterday. I replied that while I never doubted that he meant well and he knows I like him as a person, I couldn't call his performance in 2011 anything but a series of screw-ups, which he tried to politely rebut. I said that it was his failure to raise funds, at any price, that basically killed the company. The most important part of his response was that although he spent most of 2011 chasing after financing, virtually none of the expressions of interest ever turned into concrete proposals -- not even at lowball valuations.
I've had gripes with his not following my advice on some other matters, but we didn't rehash any of that stuff this time.
The Echotec technology and some other things that are being discussed sound promising, but they will need to close the Empower deal first to get some cash in the door and clean up the balance sheet a bit, and then close the Echotec deal, and then get a product developed with the technology, before it will make any sense to start projecting any kind of success. I still own some NEIK but it's a small fraction of what I once had, and right now I'm somewhere between skeptical and cautiously optimistic. |
