"Possible" is not backlog, neither is "Probable" - "Booked" sales constitute backlog from an accounting standpoint (even if they are delivered months after they should be ...)
So, could you share with us what boat you are in (as you say you are not in the same one as many of us here)? Does your disagreement also mean that (I) you are not frustrated (ii) you think the day to day reality is just fine, and (iii) you don't see the potential?
Listen, folks - my guess is that everyone here is in exactly the same boat ... frustrated investors that see the potential but deplore the day to day reality. I hereby declare that 2016 will be "The Year of John" !!
I don't disagree with that at all - the company needs a consistent order stream through expanded sales and distribution channels. Ultimately, if we are successful, the company will be sold to a larger industrial that can integrate all the core processes into a divisional structure. They would probably keep John as the GM for a couple of years, Upon sale, all outstanding options will be cashed out and that would be the real pay day for the largest holders (and for us lowly investors).
Are we all holding our breath to hear about that backlog? The good news (for John at least) is that he is up $38,500 (even at the bid) on his Xmas present (those repriced options)
John got 7,700,000 and Adele (? Alberto's widow) got 3,800,000; the Board member (Veldman) got 1,000,000
You may be right as an exercise prices at a nickel each isn't going to motivate many folks. They could have chosen $0.02 however, not $0.01 which is pretty much a gift. Do we actually know what the vesting, exercise & holding provisions of these options are? In any case, I suspect the lion's share belong to John who will happily take a ten-bagger on his options in lieu of salary.
tick tock ... waiting for the news of $700,000 worth of shipments (actual revenues vs. booked revenues)
Wondering why our 4th quarter backlog (projected revenues) are substantially higher than the current market cap ... I would venture that we are grossly undervalued at the moment. Once shipments are announced such that there is real confidence in the 4th quarter numbers, once rep agreements are (finally) signed, once we believe 2016 revenues could exceed $2 million, then I think it is possible that we could hit a dime in the next few months and possibly see $0.25 to $0.30 in 2016. Success will be about sales momentum coupled with the management capabilities to scale up operations to handle progressively increasing volumes. I have said, on numerous occasions, that the one-man-army approach is completely limiting and, while I know it's a pain to hand over fat commissions to rep firms, I am convinced that this is the only way to achieve consistent critical mass.