Of course BEAR's grim deductions all change with the signing of a quality deal. One in which a multi national could offer BXI financial aid to help start Saskatoon and at the same time outline plans for a European version of a canola plant with hopefully a much larger production capacity. There are just too many possible paths one can take and the probable variance of those paths to try and guess at where we'll be in a few month's time. The least concern imo is the ramifications of a $3M debenture when put in context of the possible access to the multi billion dollar plant protein market with the signing of a JV agreement.
BEAR once again attempts to cast BXI in the worst light. Yes we know they are only capable of manufacturing sample quantities of protein with the equipment they have in place. Yes we know that BXI doesn't have a purchasing customer base for it's products since they have yet to apply the new water based extraction method to a full size manufacturing facility. These are known facts but let's not forget that CS from when he first became CEO has taken us back to square one in an effort to get it right this time. A painful waiting process but one that is necessary. Chris Carl had it as s backwards. The standard procedure to prove a concept is to build a pilot plant to test your computer models and only when all systems test green under real world stringent conditions do you approach the market for funds to take the technology to a commercial scale. You don't build an expensive structure full of high priced equipment, hire plant personnel, and then try to play it by ear as you go along. That in short is a fool's game.The very fact that BXI had to install foaming separators at an additional cost of millions months after the production equipment was already in place should have alerted us that the whole process was not thought out properly.
So now at least we know how not to do it. That many times is just as valuable in reaching your goal. So what does CS have to work with? He has an improved, environmentally friendlier extraction method. He has higher, more consistent purity yields, This time BXI has performed exhaustive testing of their products guided by a world class engineering group. The tests were only stopped after it was satisfactorily determined and abundantly confirmed to all testing parties that the extraction process had achieved all it set out to do at the pilot plant level. BXI's Isolexx is now ready to be scaled up to a full production manufacturing plant. The next step is the job of the CEO and BOD to find a way.