Dear DRCZER,
It appears your vitriol for this company and its officers is never going to end until you can extract a pound of flesh from their cold dead bodies, so let me try and answer your “fake news” oriented questions. I’ve met you on one occasion and I’m acutely aware of your early financial participation in the form of a loan to GLEC, which you quickly chose to convert to shares of R144 shares of common.
The following is a direct response to the post you made on Wednesday Nov 29th:
“Fascinating. “Director Joe Battiato”. Does anyone know who Director Joe Battiato is? You boys in Texas who are affiliated with “GLEC” do you confirm GLEC’s Director is Joe Battiato?”
I don’t know why you are asking this question as you know Mr. Battiato extremely well and have for years. You are also aware of the fact that he and other early principles/investors, have invested 100’s of thousands of dollar in pursuit of a business plan that has morphed several times over the past years. Most all the early participants, like Joe, are still shareholders and rooting for the company to have some success in one form or another, all but you that is.
“Apparently it says that in the company description and on the website but I’m not so sure. Also, there is mention of a Michael Corrado on the website as “chief scientific officer”, is this a fact?”
Dr. Corrado is a medical doctor specializing in infectious diseases. He has never been an officer of the corporation, but offered to serve as a ‘Scientific Advisor’ to GECO and this is clearly stated at www.GECO.us. He is also a very savvy businessman who has made some very profitable investments over the years. He liked the concept that was presented to him regarding the ecological effect on the planet that the company’s technology might provide. He made a very large investment secured only by note from GLEC. GLEC then invested the cash in GECO and receive a note from GECO for the amount equal to Dr. Corrado’s investment. This, in effect, added a layer of protection to Dr. Corrado’s investment, which was by far the largest ever made a single individual in the company. If GECO should succeed with its current plan, Dr. Corrado would seemingly have several options regarding the recouping of his investment, as well he should.
“Lastly, if you google “global ecology Corp” it comes up as a non-profit organization in Montclair NJ. Perhaps some honesty and integrity is what is needed from this group. Does the CEO know of these things? Does the CEO distribute ANYTHING at all to the shareholders of this non-profit? Perhaps if truthful information was distributed we can all move forward.”
I couldn’t find the link you mention, but I know for that the company has never been a 501C (non-profit) corporation and you of all people should know this would be an impossible designation to receive, even management was sleeping with Lois Lerner.
“I also have a substantial amount of documents, emails, posts etc. Truth is always a valid defense.
If anybody assumes they know whose posting perhaps meaningful and truthful information should be distributed. Not threats. “
I too have documents, emails, posts, etc. In fact, probably every one you have, but there’s one I find particularly enlightening and I’m fairly certain you are aware of it as well. It has to do with a certain individual that visited Casselberry a while back. When there, this individual attempted to plot with GECO employees and the Canadian manufacturer of the company’s water treatment product to privately takeover the regional distribution of the product. The attempt failed, as it should have and I believe this individual carries some very bitter feelings about the event years after it occurred.
“The people who are the Director and CEO had no problem taking my $750000.00 and some other influential persons monies with representations that the facility in Alabama was part of GLEC.”
Your number is high, but you did make a large investment and after what I believe was a substantial amount of due diligence, but prior to the creation of GECO. I admit I don’t know the actual amount your due diligence, but as an ‘accredited investor’ I assume it would have been substantial. Additionally, as previously stated, 100% of the early investment in Castleberry came from one person. The plan at the time was that his investment would be recovered by the success of the Castleberry operation and any additional growth achieved in Alabama. GLEC would then receive shares from GECO equal in value to what was used to fund the startup. As long as there are no results from Castleberry, it is impossible to calculate what the GLEC will receive, but certainly Dr. Corrado must be made whole first.
“Now it’s GECO???? Perhaps I don’t understand.............maybe some candid information may be worthy.”
My study of GLEC’s financial situation at the time when GECO was created, concluded that there were probably several strategic reasons for creating fresh, clean, startup company with limited ties to GLEC. They are numerous and obvious, but I won’t go over them in this forum.
I know a little about the current plan that management is trying to execute and my opinion is that I believe it is the most promising thing the company has ever been involved with, however, there’s a “but”.
Here’s the current status, the Company spent a lot of time and money positioning itself to cash in on the burgeoning Carbon Credit market, only to get to the finish line and have the politicians eat it alive. The credits are still valid, but President Trump and other significant control people don’t like it, which effectively ended the demand for CC’s produced in the USA. California has stayed heavily in the game, but will only buy CC’s made from food waste and at this time it would be too expensive to convert the process to accommodate food only.
However, Peter has continued to field ideas from various sources that might make the company profitable. To this end he was approached by a company that has a massive distribution system capable of selling 5 lbs. bags of our Organic USDA Certified compost to their vast, existing retail network. The market testing has shown that the bags and product cost less than $.50 to produce and will wholesale for $3.00 with a retail price $5.95, with the potential demand being off the charts. It should be noted that no other company the capacity GECO has for this highly desirable type of soil amendment. If you do the math, one ton of compost yields 400 bags at a profit of $2.50 per bag, less distribution cost of approximately 10 %. That’s big money if can just this one time get to the finish.
I believe Pete is working tirelessly to make this happen, with bags having been designed and attempting to raise the necessary capital for the product roll out. Personally, I don’t know how he does it as I would quit a long time ago. There’s been a few of us that have contributed time and money along the way, but most of us tapped out and/or burned out. Joe is trying to raise the necessary as well, but as it goes with all difficult and lengthy projects, is it a light and the end of the tunnel or a freight train, not a lot of people are interested in finding out the outcome at this point. Myself and a few other rooting for the company to succeed, but as a good friend of mine, who was an entertainer said “Hey, throw money, I can’t spend applause”.
