I read it and responded that I had already written them an e-mail asking exactly for that and received no response:
To: rlrenken61@aol.com, kadessky@adessky.com, earl@vcpartners.ca, brianlevine@rogers.blackberry.net
Cc: gareth@otcmarkets.com
Gentlemen:
When a legitimate company provides the marketplace with guidance on sales or earnings or the date of a significant event and they find out that the guidance previously provided is no longer valid, they issue a new press release to correct their previous guidance. Ask Paul if you do not think I am correct.
You have publicly stated the following:
GCE has systematically modeled and evaluated 5 distinct business units over the last 12 months on route to $24M of investment to be made this year," added Brian Levine, COO of GCE. "The company has followed it stringent capital management criteria limiting its technology exposure by focusing on systems with a broad and proven install base, strict IRR, absolute site control and offtake revenue agreements into stable commodity markets."
GCE will develop a Plastic and Tire Pyrolysis site and a PGM platinum group metals plasma Arc recovery site in 2014, operational in 2015.The Company expects revenues in 2015 to exceed $80M. GCE is also evaluating an acquisition to accelerate time to market in the PGM industry.
and
GCE expects to become majority partner in this operation in a deal expected to close in October, but Mr. Levine would not name the firm or the total amount of the investment, though he did say GCE will invest US$15-million immediately and that that company has annual revenue of $20-million.
“The acquisition will eclipse our expectations and our attention,” Mr. Levine said.
Mr. Levine is confident prices for the metals will keep rising, due in part to booming markets in China and new consumer interest in platinum jewellery.
GCE is projecting revenue from this operation to be US$15.6-million for the last quarter of 2014, and annual revenue of US$80-million in 2015 and US$162-million in 2016.
Do you still believe that these previous public statements are true? I do not see any investments you referred to in our statements? What happened to the immediate $15 million? or the $24 million in 2014. Do you still think we will do $15.6 million in Q4? How about the $80 million in 2015 - is this still doable?
I urge you to update the market on previous 'hype' you previously announced. If it is no longer true THEN CORRECT THE RECORD.
I am copying the OTC on this e-mail in case they have oversight on your misinformation and failure to correct it.
Earl Takefman
