Global Clean Energy Inc (GCEI)

[tacky]

FROM GCEI Q REPORT:

The underwriter for the IPO of the REIT has been selected. The company will announce the name and commitment once the final agreement has been signed which should take place in the middle of the third quarter. The REIT stock offering price and total amount to be raised have yet to be finalized, but early budgets indicate somewhere between $30-50 million.

The project construction company, management team and operations supervisors have been selected, and will be announced shortly. After nearly a year of interviewing companies throughout the world, we are fortunate to have found a company which can do all aspects of the project from site preparation, to operations, to sales. The economy of scale, will allow GCE to be a price leader in the supply of algae feedstock.

The location of the first Algae project is being finalized and will likely be outside of Houston, Texas,the company has narrowed the site down to three locations.

SO WHAT DO WE KNOW:

1. GCEI LIED ONCE AGAIN on timing. AGAIN AND AGAIN they do this.

2. This project is A LONG WAY OFF!! They have to build it.

3. GCEI only owns 20% of effectively a lemonade stand. A 50,000 sq. ft. plant cannot possibly generate enough income to even cover their accrued salaries.

This is SUCH DEAD MONEY FOR A LONG TIME.