Solar Wind Energy Tower Inc. (fka SWET)

[swingingRichard]

Where does the money go?

Previously, several rounds of financing were completed and we think there were questionable use of funds. The company routinely fritters away approximately half a million dollars each quarter on "Selling, general and administrative" expenses. By way of example, of the $555,000 received from JDF on June 9, 2014, only $335,261 remained by June 30th, according to the company's recent Form 10-Q filing for the period ending June 30, 2014. The company made no cash interest payments that we can see on the financials, and since it sells nothing, it appears that about $220K was spent on those elusive "general" and "administrative" costs in just three weeks.

What's the Real Story?
(1) An obscure, perhaps non-existent entity (AAEC) promises to raise a huge amount of money to fund a project.

(2) That project is on land that is optioned but not owned by SWET, who is the frequent subject of Pump & Dump promotions.

(3) Millions of shares are registered on behalf of a financier (Fierro) for a fraction of their trading value.

(4) Fierro is known to have a dubious penny stock history.

(5) SWET obfuscates the money received for those shares.

Source.