Excerpt from a Newsday article by Joye Brown April 22, 2015 6:10pm regarding New York State Law:
the loophole in state law... "It allows consultants to introduce business representatives to government representatives -- as long as there's no pitch for action -- which means the consultants can avoid registering with the state as lobbyists... the loophole also allows the business to avoid registering as a lobbying client, a move that can complicate trying to determine what the client is trying to influence."
"The current Nassau Republicans have proposed new legislation for their county that keeps this loophole in place, the Democrats have proposed legislation that will close this loophole."
as long as Adam did not "pitched for action" over and above introductions, it would appear by this that nothing illegal took place in that regard.
From another article however....” Nassau must get legislation passed in Albany for the contract with AbTech to go forward." from the Queens Gazette.
I agree...it weakens their story to stop or delay. Don't forget...Nassau has said it has the most transparent process in Government. Pretty bold statement...and the acting DA's internal investigation? Things will be discovered...pee pees will be slapped behind closed doors and changes will be made going forward but will all remain internal. Disclosing improprieties opens up questions on how all other contracts were awarded...suddenly every company that was ever a low bidder but not awarded a contract has its radar up. Nassau legislators have already proposed changing lobbying rules going forward for the appearances that they are on top of the situation. Its all very embarrassing to them...they want it all to go away.
If something is found...and most likely it would be outside of this Nassau contract. It all goes away with the Elder Skelos admitting nothing but resigning. The Feds end game isn't whether the Nassau contract was handled inappropriately (although the acting DA may choose to press that issue through her own investigation) The end game is Preet Bharara's own political agenda, by exposing the vast corruption in NYS politics. But in this world it isn't what you know its who you know, and Skelos' brother happens to be a NYS Supreme Court Justice. I think that could provide certain privileged exit options for the Senate Leader if needed. To your point though the Q1 CC will be interesting.
This is about Skelos...and the Feds are using his son as leverage in part by trying to show a pattern of him moving around from job to job and getting paid in at least one instance by a company that he did not work for, in return for the elder Skelos' influence. Does it look suspicious? Yes it does...Is this how some political business appears to get done in NY state? Sure looks that way. Does it mean Abtech did something wrong by hiring Adam as a consultant? Perhaps not. Although this appears to be a sketchy way of doing business I doubt that it is illegal. How this will ultimately affect Abtech and Nassau is unknown...but again...this is about Skelos.
The volume is nonexistent since the story broke last Thursday ...no one is panic selling. At least up to this point this is about Skelos, not so much Nassau...not so much Abtech.
Just not good press for Abtech though...I don't believe Abtech did anything wrong but I don't like the idea of all this scrutiny. On the positive side though, if Abtech does get through this without harm I think Mako's head may pop.
From an article I found..."unlike Suffolk County -- Nassau has no laws regulating lobbying, despite moves in the early 2000s, when Jacobs was presiding officer, that ended up going nowhere.
In addition, the county's disclosure law requires only that principals -- not consultants, lobbyists or stockholders, ... -- be divulged in contracts."
Hope for some slam dunk nuclear testing results because the testing in the other markets while proved remarkable, have not been compelling enough to generate break even sales. Lets hope this is the no brainer we've been praying for, and smart sponge becomes forever referred to as the Zamboni of Nuclear water remediation. Time is running out.
Has officially launched the storm water retrofit project with Corvias this week according to the Washington Post. Posted today...
Corvias will focus first on the properties of participating churches, schools and county owned buildings.
It will take more time. On this next earnings report I'll be looking to see if there has been qtr. over qtr. growth on the ultra urban filters and whether or not the evaporator is in fact installed and in process of "testing".
Corvias could be good...but without clarity on Abtech's role and revenue potential it doesn't feel as though they have much control in that partnership. That being said...Corvias just hired two new VP's to expand their reach in the Chesepeake Bay area to help influence and teach other municipalities about the benefits of the Public/Private Partnerships.
Pretty unusual that Abtech hasn't scheduled a 4th Qtr. Conference call yet. Not sure what to make of that but I believe it has to happen before the close of this current qtr. Should have been announced this week.
Sorry buddy...I forgot to tell you when Nassau got "rolling". It's rolling now. Also...looks like the EPA backed off their "lawsuit" recently. One less thing to complain about huh? Thanks anyway for your latest contribution to the conversation by dropping another deuce on the floor. Always a pleasure
Third Qtr. will be key but I think they get there if the UK evaporator opportunities pan out. If the evaporator turns out to be a dud they don't come close.
"On February 5, 2015 the Company's Board of Directors also granted stock options to executive officers of the Company with vesting conditioned upon the Company achieving a minimum gross margin on sales (sales less cost of goods sold) of $5 million during the fiscal year ending December 31, 2015. The stock options, if vested, will also have a ten-year term and an exercise price of $0.34 per share. The following table sets forth the names of the executives granted these options and the number of option shares granted"
Although it states "Gross Margin on sales"... they define it above as sales less the cost of goods, which I thought was considered to be a definition of gross profit.
Can anyone offer some insight here? I thought gross margin was represented as a percentage value. Do they really mean Gross Profit here? If that's the case they would really have to blow the expected revenues of 20 million this year way out of the water. Especially since Nassau hasn't been represented as being enough to cover operations in and of itself.
No in years past they have had their 4th qtr earnings announcement towards the end of March. I forget exactly why they do that but it coincides with some sort of paperwork they file. We should hear of some sort of update soon regarding the evaporator or another deal though but they never seem to get their timing right in terms of projected awards. I thought we would hear of news soon as we are now sitting very close to the 200 day moving average of .37....we have hit .35 four times recently only to pull back. I would suspect that if we hear nothing in the next 2 weeks it will be back down we go. JMHO
On the LD Micro presentation last Dec. Rink specifically states during one of his test tube demonstrations that the cleaned water is not intended to be used for drinking water. Whoever wrote that blurb must not have had their story straight.
They are also presenting at The Brewer Group Innovations Conference on Feb 9th in Miami Beach. An announcement of an Evaporator install would be something of substance to talk about if they are fortunate enough to get that done.
The volume seems to be consistent since the new year. The selling for the most part has been shaken out due to end of year tax loss selling but every morning this week there has been some early buy orders. I think some of those that sold in Dec. are now getting back in and we will see this stabilize as you say in the mid .30s. If we see or hear of any news then we may bump higher into the .40s but if we stay in this pattern of only talking about the opportunities, and not cashing in on them we head back down. The install of the first evaporator should happen in the next few weeks as stated but they have yet to hit one of their own projected timelines yet. In short, be hopeful but don't hold your breath.