Horntail
9 hours ago
I spoke to Alex yesterday. We had a good conversation that lasted probably 20 minutes. First it is worth noting that Alex is getting over being sick. He said he tested positive for both Covid and the flu. He was still coughing a bit on the call. He mentioned things are running behind a bit because of that. I don't recall everything we talked about, but below is what I can remember. I apologize if it isn't in any rational order.
* I asked whether earnings are on track to meet what was projected and he felt they are either on track or at least very close.
* He said they are focused on constructing as many oil treatment units as possible. There is a huge demand and they are doing their best to meet that demand, but at the same time they are trying to mostly use revenue to finance the construction. He explained why, but I don't remember what it was.
* He explained that the reason UATG divested itself of most of the other subsidiaries was that they did not have the potential as H2O and he wanted to focus all resources on H2O since it has a lot higher potential.
* He explained that the water treatment actually has more potential than the oil. However,. the oil treatment is quicker, cheaper and easier to get into at this time.
* I asked about whether they were still planning on buying oil to treat and sell. He said that is still the plan since the income would be better, but they are still planning renting the units also.
* He is planning on creating another update soon, but is behind because of being sick and also he is waiting on a few things.
* Hurricane Helene appears to be heading straight for the UATG office so he thinks that might hold things up a bit.
* The only remaining subsidiary is UAT and it is mostly inactive because they are focusing all their efforts on H2O. He said it still has potential.
* He wants to build a facility to manufacture the oil and water treatment units to speed up production time, but if I understood him correctly that is something that won't happen anytime soon.
If I remember anything else that is worth mentioning I will post again.
go4yordream
3 weeks ago
I was one of Alex's greatest cheerleaders, but over the past year I've lost a lot of faith and respect. I feel that we may not be getting the complete truth about things. First, he was very late filing Q2. Second, in Q2, he shows $154k in revenue, but nder the "going concern" he states that "the company has no source of operating revenue". Which is it? Revenue or no revenue? Third, the accumulated defecit is almost $34 million. That does not bode well for the immediate future. Personally, I don't care about seeing a few lousy pictures. If the contract is supposed to generate $50 million in annual revenue, $154 thousand is pathetic, but I'll (once again) give him the benefit of the doubt because it's something (if it is legit). Q3, should show a massive revenue increase. Like the rest of you, I'll continue hanging on by the given thread. And nothing has been said nor done to increase share price.