I can't blame anyone either, but I also can't sympathize with anyone who thinks this was anything more the a speculative play to begin with. There are thousands of excellent products that never make it for reasons beyond their control. The current economy, and other barriers to entry are beyond what I can imagine. This is a speculative play and always was. You have to be willing to lose part of all of you investment, or you shouldn't play these type of things.
That being said, they have blown a lot of cash and made mistakes for sure. If their negotiations with International Shipping conglomerates is anything like those conference calls, then we need a miracle or a takeover bid and I pray for our soles (and lost $$$)
Chasing the China dream with no plant in place has likely been a pipe dream. This is big leagues and I don't think they can do that properly on their own. They need a buyout, corporate partnership, equity buy-in, JV, or something. I don't think Bayer is a financial partner, or ever was. The name association is a positive though.
I'm not selling anything now, nor do I think I could get rid of many shares anyway. It's more speculation for me to say, but I agree with Sunarf, there must be a reason for the pullback. I just hope they figure it out before cash runs dry. (we have 6-9 months of cash left by my crude and ignorant calculations at current scaled-back levels)
The Company currently has available approximately $1.0 million to establish the Peru Indiana facility as a commercial operation and maintain ongoing business operations. The Company believes that as a result of the reductions in overhead that have been initiated in the fourth quarter of fiscal 2012, combined with the available cash on hand, and projected sales, the Company will have sufficient funds to operate for the next 12 months
So, there is a 12 month window if sales occur? If no sales occur, they seem to be spending $450-$500 per quarter while in the scaled-down state which gives them 6-9 months?
I wish we knew more about the projected sales... what sales are projected and why? I ASSume they can't make a comment like this without there being support for the same? However, I don't really know the disclosure rules of the SEC.
Back to praying.......
The thing that really baffles me, is why wouldn't you want people to know you've started producing again. They won't tell anyone, for whatever reason, and I have no idea why...it's a good thing.
Personally, I think they need to stabilize and focus on the trailer flooring. They have have to many products in their infancy and they can't figure out how to mass produce them, even with their so called expert staff. If they focus on the trailer plant/production, they can use that money for China and the container production. I believe their most recent 10-K indicated the Peru plant was capable of producing $12,000,000 in revenue each month. If they start with that they can get the rest of the floring produced, and let's face it, if they maximized the Peru plant at $144,000,000 in revenue the share price wouldn't be in the toilet.