CG1 getting recognition for their new phosphate cleaning AC with the DOE. Also doing 3 commercial pilots for the product in Florida. https://www.carbonxt.com/wp-content/uploads/2020/07/Prize-Award-Press-Release.pdf
Less than a month after mangement "re-affirmed" their guidance for $24-29m now at the end of Feb they have backtracked to lower end of the guidance. There is still talk of new customers but no follow through.
As mentioned, in order to meet this gufiance they likely need to do two big quarters of $7-10m. Unless they are doing an LPE there is going to some positive annoucements with new customers and then a much better quarterly to come.
Doubts about management are starting to creep in.
March 2020 Quarterly Report
Quarterly Cash Flow