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http://biodiesel.infopop.cc/eve/forums/a/tpc/f/919605551/m/3081021852
I looked it up back when. I watched the PR's grow too. The above link clarifies it.
Tex, you are a joke. Your going to sue Aziz one day and the next it's buy Amelot and get rich folks. You own 2% of 20k processor and think you are a captain of industry discussing market caps. ROFLMAO
We use corporate signed Purchase Orders, boiler plate, the kind legitimate companies use, this deal was different. I've been in the petroleum equipment business for over twenty years and every manufacturer charges a 25% restocking fee on cancelled or returned orders, it's more than fair.
There was no contract to begin with, was my buddy Allen and I talking on the phone. The one we finally did didn't address defaults on their payments. We all knew it wouldn't be built if they didn't pay. I rarely do "contracts", never had a problem till now.
Blade, I've argued this adnaseum here. The vendors would have got the 78k and I would still have zip to pay overhead. I also wanted to finish it, more than anyone. The funds weren't thee. There were upgrades and change orders to cover as well as a facility to plug it in, tank farm, transfer systems, permits, etc. It was a long way from done.
You've repeatedly questioned my integrity, character, etc. This isn't like buying something at the mall you bring back to the service desk. I was contracted to build a custom piece of equipment. I had nine months of aggravation, disruption, repeated broken promises, etc. I offered to refund their money less 25% "restocking" which is what I would pay vendors too restock items already purchased. Their response was this lawsuit with my name in the headlines timed with a fresh pile of toilet paper for sale.
Thx Scalig
I'm still here, what's to say? I take personal offense to what you and Tex have said about me. If you choose to believe or pretend to believe a habitual liar over me I wish you luck.
Thanks to those that get it and, well .....hope for those that don't.
Doesn't directly. Just bugs me watching a life long parasite trying to profit from tearing down someone that worked hard for many years.
They sold shares, not me.
You are hilarious. Their BS PR's to sell shares at my expense changed the game. I'm after a pound of salt now and won't stop until the little snake is sent back to whatever hole he slithered out of. Sorry.
Blade, the 25K was not the final payment. The fact they just put up 20k for Barbados(not 50) doesn't mean they had it back then. They also needed a home for it, tank farm, juice, etc. My offer to them had a 1 year timeline or sooner if the unit sold to someone else prior contingency attached. The contract had two timelines, one for payments, one for progress. The progress was never questioned until they needed an excuse why they hadn't paid many months after the fact. This has all been previously gone over here ad nauseum.
I'm not involved directly with them any more. Back when, they had Allen and Aziz with others working on deals as "consultants". I was offered stock at a 25% discount and passed.
No, I deducted 25% for "restocking" as is typical on cancelled orders.
Yes. I made them a fair offer. Their reply came in the form of a PR saying they were suing me. They printed 500 million new shares to go with it.
Best investment I ever made, by a mile...:)
I would love to waste my time in other ways.
My lawyer said this suit could take years. I doubt I'll lose. Yes, I'll probably drop by this board as long as there is a pulse. I'm curious to see what happens next, it's entertaining.
Google amhd news, partnership PR with University. Two interns joining team. Developing grease collection routes. NBD.
http://www.marketwatch.com/news/story/amelot-oil-barbados-ltds-partnership/story.aspx?guid={0CE86172-74BB-4104-9E0D-97B5BCE1815D}&dist=hppr
I read that Einstein lost most of his wealth on bad investments. I wonder if his wife said "nice going Einstein".
No, I don't own any stock.
Ha, why am I here then? Thx
I admire Handel and what he is doing, god bless him. I hope he doesn't tire from carrying five gallon pails. It sucks getting that stuff in your sneakers. I'm sure he would like a vac truck, transfer pumps, storage tanks for feedstock, waste, glycerin, methanol, biodiesel, acid, dispensing systems, meters, controls, wiring, cranes, inentory, an office, a location to work out of (they outgrew the tree hugger camp), a paycheck, etc. How are they buying / handling methanol? How are they handling 1200 gallons plus of waste? How do they control fuel quality and liability? There are 100's that have tried this and given up within a few months. They didn't need to cover an expensive manhattan bar tab either. If he has the fortitude to see this through he can be successful at anything. I predict he'll get a call from Aziz some evening after 6, be insulted, then figure out how to build his own biomatic for a few hundred and this will all be over.
I'd file first.
Cost of methanol alone eats 25%, add catalyst, energy, labor, and SGA. Did you notice in the pics they have no storage, handling, etc. You think they'll handle 6000 gallons a month in plastic pails, in and out?
I don't see it climbing ever.
Month maybe.
They ran out of money, didn't make payments as agreed. I didn't have the money to finish it. They didn't have the money or place to plug it in.
I am one of the parties in the lawsuit and have detailed my version here at length, go back and read my posts.
Aziz said AMHD won? That's funny, it's still in discovery.
Biodiesel is competitive once you hit economies of scale. This plant doesn't come close, do the math. Look at the avg plant, 30-110 MM GPY versus this one at 6,000 gallons a month. The typical plant costs 50 million, this one cost 20,000 I think. Do they have a tank farm, transfer and storage, delivery trucks, meters, accounting systems, product liability, etc, etc, etc.
Blade, you need to do more diligence. Read PR's, look at biodiesel industry resources, think, etc.
“A wise man changes his mind, a fool never”
Discovery
5 gallon pails only get you so far. Do they have a truck?
They still need infrastructure, trucks, tanks, pumps, etc. Once they have a few customers they'll realize it. Processing costs are high there too. The net is maybe a dollar a gallon before they pay Calendar, leaves a couple grand a month if the suppliers don't want something for their grease. Not a profittable model, tried 1000 times.
My weeks preparing my case for my atty, 9/5 deadline. Sooo many better things to be doing, frustrating. Feel like I'm wasting it as their is likely little to gain other than personal gratification. If ya'll want to email me any ammo info, I'll pass it along.
"The Lord works in mysterious ways - yup, and I'll wait for AMHD to help make the world a better place through bio-diesel."
Just be thankful the rest of the world isn't.