Possibly a year ago, the Port St. Lucie waters were covered by another algae bloom and nothing was done then but this time a technology from Ecosphere, which had been advocated then but not used, is being tried and hopefully will succeed. If so, the trial unit will get a few more helper units to clean up the water.
I've met Ted a couple of years ago at the Iowa plant. Seems like a real straight fella but, with hindsight, his big plans for the company THEN never worked out.
I agree with BOCAMP1 above. Without SEC financials, there's no telling how many shares are outstanding fully diluted. TD shows 30 million, I believe, but I think there might be quite a bit more right now. In any event, another 2 million shares in this deal, at $2/share, is nothing, IMO.
Nothing near-term as they haven't even signed a binding agreement just a MOU, and when/if done it will be many months before there's anything concrete in terms of plant, revenues and profits BUT, at least, mgmt is trying. I assume the extraction technique will be the JV's technology.
The National Oceanic and Atmosphere Adm. recently estimated the 2016 Chesapeake Bay hypoxic zone will be close to the long-term average. It attributed the zone's low oxygen levels to low river flow, nutrient loads and agriculture wastewater. Researchers also predict smaller-than-average no-oxygen areas within the hypoxic zone in early and late summer. The U. S. Geologic Survey estimated the Susquehanna River contributed 66.2 million pounds of nitrogen from January to May.