I think the stock will take a bounce but as I have said before I don't think it can sustain a large run up until a case is made for increased revenue. Another thing that will hold this stock back is the amount of shares that have been bought at these ridiculously low prices. Profit taking will hold it back at least in the short run.
There is simply no way I can see this going green tomorrow, NO WAY. Most investors was looking for someone with a real CEO experience . I'll be the first to post I was wrong tomorrow IF IM WRONG but I doubt I will be. This was indeed a very bad decision PPS WISE.
From today's press release- To sum up the style of writing = awkward and veiled. Smackes too much of last CEO I fear.
Mr. Hill stated "As with the introduction of any alternative technology such as GASFRAC's, there is an adoption cycle. Success requires customer involvement, rapid cycle experimentation, learning and development. Since introduction of our proprietary technology in 2009 which uses a system to pump pure gelled propane we have adapted to market demand and client requests. As a result we have been able to increase our daily pumping capacity, provide customized fluids, allow fluid recovery and better integrate our operations into our customers' processes. Today we have the benefits of our original technology and enhancements resulting from our alignment with customer requirements to meet the needs of today's industry. Now our team is focused on enhancing our sales and marketing initiatives to introduce and provide our unique technology and better solution to more customers."
I think this decision confirms that the turnaround is well in hand or else they would have had to hire someone else. Last conference call Hill said a reset had been achieved. The cost-structure was improved, execution was improved, and new clients were responding to the new technology and on the books(hybrid LPG; custom fluids). If Hill wasn't getting any of these done he would have had to be changed. Hill said they are in revenue-ramp-up, and this is corroborated by the sales guy's purchase of $60,000 in stock recently. I can't wait to see who their two mystery clients that they had under NDAs, and the new technology to be revealed on June 6. Regardless of what the stock does on this announcement, the turnaround appears well in hand.