I appreciate everyone being patient with this, and I know patience is running out.
Below is an email to the managing partners from Lloyd who is our go-to person with weekly contact with Lou from Metroconnect (MC)
I am always optimistic but that is me, I encourage you to leave a comment at the bottom of this post and let us know how we can help answer questions.
Had a long talk with Lou. Some you will like—some you will not.
MC is working on an offer, not polishing it. If what I said sounded differently in the past, I apologize.
There are a number of restrictions on what a company can do if they are not exchange traded. They are being cautious. They have to be. Lou says that nobody is telling him that they do not have time to work on this or that it can wait until later. He also knows that everyone involved has a lot to do and it is all important. From their standpoint. It has to get done before they get very far into talks with institutional cash investors, because the two things are interlocked. That is a promise for a result in time for it to matter, not for a deadline.
MC’s business prospects are improving by the day. Yesterday they signed a substantial contract with a municipal water company to monitor the status of ponds. They also have a number of potential customers waiting to see results from an operating system before they sign a contract. MC expects to have two systems in operation before the end of the year.
MC also recently discovered a major new market for their systems. They were introduced to a company that has a product that can control air quality. The company has some credibility. They recently provided four devices to be used on the International Space Station. It is not surprising that they have air quality issues. It is also not surprising that they have people who can run tests and change the setting of the control. For less mundane applications, what is required is a control system that can monitor air quality, note changes caused by treatment or other factors and reset for best response. MC is in negotiations to be the exclusive supplier of those control systems for use in North America.
Still may not get the time frame we would like, but the results should certainly be there.
I'm always optimistic and when I personally talk to Lou and Lloyd there is real excitement in their voice.
We have waited a long time and the managing partners are doing what we believe is in the best interest of the entire partnership(s)