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When did you talk to Jens?
To investors:
In my opinion, John, unfortunately, in his zeal to get this thing up and running, had gotten way ahead of himself with timeframes that were unattainable. Obviously, that has led to a lot of grumbling/pain among shareholders. I understand that. I am a shareholder. But, he knows what he has and had it verified by others (Summit Environmental, AmSpec).
I think anyone else who felt they had created a revolutionary product might have made the same rush to the "pulpit" especially if that same product has the potential of:
1) reducing America's dependence on foreign oil
2) helping out American farmers
3) helping out America's environmental challenges.
John tacked on other humanitarian causes that some criticize (but shouldn't), but those three listed above were specific to John's biofuel product itself.
It led him to seek out associations that he press released too soon trying to get good news to investors before finding out that they were not what they purported to be.
1) The merger with United Ethanol. This was a strategy to
shortcut USSE to get to the OTC Bulletin Board. I was
never in favor of this and was delighted this deal
fell apart, especially given that John learned things
weren't up to snuff.
2) In the case of Illinois Biofuels, a company that still isn't
producing anything and wouldn't have been my first choice
as a strategic partner, John was asked to pony up $1.2
million bucks for a property that appraised for $ 200K.
When he found that out, he sidestepped a landmine and
moved on.
3) It has been reported that Stanton also reneged on providing
financing that was promised in return for shares of the
company. While the shares were provided, the funding
wasn't. John is taking action to recoup those same
shares. Will that be a slam dunk? Who knows? But,
wouldn't you want the CEO to retrieve compensation to a
third party if there was a breach of contract to the
company?
4) In the case of BCEI, they failed to pony up the funding
that was promised. John gave them more time and they
still didn't pony up. And that's when John moved on. He
accepted what he thought was a reasonable delay and when
BCEI reneged, he walked away and looked for another avenue.
Anyone can make their case that this isn't the best way to do business, but as CEO, you do what you do to move forward and protect/advance your company. I think that's what John did in all of the above four instances.
Change in strategy was another thing. The original strategy was to use USSEC's biofuel straight up to generate electric power as the fastest way to market. I don't think John anticipated the foot-dragging that municipalities would do. Or understood the capital requirements for getting into that business. I certainly didn't.
Use of the fuel as straight biofuel in the fuels and engines market, even as the WSR report included, was going to be an even longer path. We haven't even talked about how eventually the straight biofuel should eclipse all this blended product, but for now, as a strategy to get product to market, John shifted focus to that. While communications to investors suffered during this whole strategy shift, in my opinion, given recent updates, this strategy has the best chance for near term success.
No one is saying that all these things with the lack of communication to shareholders from the company hasn't hurt credibility and it is why the pps stands where it is. But it doesn't mean John is dishonest. Mostly it means shareholders feel misled given the original expectation that revenues from power generation would be already be on the books and the failure of some business deals to get successfully off the ground.
But, if John is now really tying up the trade secret to USSE (as some here are reporting/rumoring), it might be that while trying to protect it (isolating his baby from those who would try to defeat it by raising capital through share sales alone), it may have had a dampening effect on companies who will not provide additional needed funding for expansion unless that trade secret becomes part of USSE's asset base. Maybe John has come to that conclusion on his own. That's just a guess on my part.
I posted here earlier that even though I was aware John himself owned the trade secret, I took the risk in investing in the company's stock anyway(and added to my positions since my original investment in Nov 2006). You bet that's a risk, but it was one I was and still am willing to take.
If it doesn't work out, well, all my eggs weren't in one basket. But, I think it will work out. The timeframes might be much longer than we originally were told and while that's unfortunate, this product is much too important, even if it's an opening salvo, as an additive to ignore.
I'm certain parts of this will be copied and challenged six ways from Sunday within the next 10 minutes.
But, this is my opinion and I'm stickin' to it.
If you believe in the product, what would be John's motive to be dishonest and NOT work to get it to market?
In my opinion, it would seem easier under that scenario to be the hero (get the product to market) rather than the villain.
Think about it.
Not an attack, just a question.
You're wrong...
I spoke to Redwood about that months ago...
I asked who owned the patent (which turns out JR decided to go the trade secret route) and they told me Rivera...
Sorry...they never said USSEC owned the patent/trade secret...
You must have heard that wrong...
If they do now, that's great...
Investors...as I have always posted, it's up to you and you alone to decide if your money belongs here. If it doesn't, it is your prerogative to sell and move on...
If you do hold, I hope everything works out for us...Obviously, there are no guarantees (as there aren't for any other investment)...
Myself, I am convinced, despite the constant barrage from non-investors, that they have the fuel...I have a very reliable source (to me, a family member) that has spoken to their contact at AmSpec who verifies and has high praise for the fuel...
Maybe that won't be enough...I don't know...but, that's where my bet (just like any other equity bet) is placed...
We are getting reports of progress being made toward that end...from press releases from the Company, from Investor Relations, from their customer/investor Geobiofuels (I have spoken to this man personally and despite attempts to discredit him, it won't wash)...
At the same time, there is never a "slam dunk" in the equity world, particularly with pink sheet entries...
If you bought, you knew you were taking a risk...and as I have said, you can always push the sell button...it's up to you...
If you're reading this board as a potential investor, you can already see this is not a slam dunk...the pps wouldn't be
.04/share if it was...there have been missteps and management struggles within the company...again, you have to decide if it makes sense that the inventor/CEO who wants to see this come to fruition and continues to put the work in (he is not exactly sitting around in his office; he's out there in the field) is credible or not or has enough business knowledge and wherewithal to get it done...
It's called risk...and it's up to you to decide if a revolutionary product/process is worth taking a chance on...does it meet your risk parameters?
If it doesn't, as with any other investment, walk away...
No one is telling you or anybody else to BUY/HOLD the stock, but curiously, others are telling you NOT to buy the stock...To a smaller degree, you have to factor in YOUR perception of the "integrity" of both sides and how that influences your decision to buy/sell/hold...
Whatever you decide to do, whether it is buying/holding an investment here or anywhere else in the equity markets, I wish you luck...
Note: Ron/Bio will now be exclusively posting on Investors Village
Spoken so eloquently....I salute you, sir...
If there were message boards in Edison's day, these same naysayers would have us burning candles...
Kelmer leaving?....
Kelmer was arrested on 13 counts of embezzlement...
Now, THAT'S a fact...
Thanks, Larry...
I can't PM you here....
But I sure will let you know...
I'm assuming you took action today...
Thank you....
I just confirmed (yet again) with Redwood that the AgriMax JV is 90/10 with USSEC getting the 90%...
Oh yeah, that's right...I forgot...only wechoose tells the truth here...
See?...I can be sarcastic too, wechoose...
I didn't know your moderators and assistant moderators weren't paying attention...I didn't write down all the numbers...
For example, try 50720 and 50780
I'm not pumping the stock...
But, in lieu of those who have an agenda against this company, I am attempting to somewhat balance the scales by exposing their motives...
My posts are responses are to refute the legitimacy of their posts...
I'm an investor in both SSTP/USSE and have posted that here many times...
So, your nickname implies you don't like pumping?...maybe I should change mine to "Don'tLikeNon-InvestorsPostingNegativelyAllDayLongontheMessageBoardformycompany"
80%?.....try 100%....
Even he reposts Ron's stuff...the positive stuff...and then add his brand of sarcasm...
That's right...as long as they're not trying to publicly manipulate investors...
Oops...that's you, isn't it?
Cool...
Thank you....that's been my point all along...
Might I suggest any posts that contain attacks on management's physical attributes be deleted from the boards?
I'm not defending Ron's method for dealing with the additional frustration that you and many others are causing on these boards...
But, let me tell you...I feel the same way about those of you who are not investors who continue to post as negatively as you can about the company...
And while I haven't kept track of the specific nicknames on this board who have been doing it, there have been scurriless personal attacks on Mr. Rivera, his physical attributes to start with, that are demeaning and have not been deleted nor have those IHub members been warned or banned...
Besides that, reposts of Ron's messages have all been informational...the last one was reposted here as an attack on Ron...another post of negativity that is designed to discredit him...
Well, it won't do for me...I actually spoke to Ron a couple of months ago...he is very knowledgeable...
I wonder how some of you would react if you were putting your heart and soul into not only spending the time to look into the company/industry prospects, but to start a business distributing the fuel from said company, try to impart information to shareholders of some progress and then be called a liar (for example, with no proof whatsoever, saying he never made the trip)...
How childish some of you can be...others are downright devious...
Tony...
Agrimax is a 90/10 JV with USSEC having the 90%
Mark...buddy...
If you believe this is a scam...as you seem to be posting lately...then you'd have to admit you'd have no chance of getting your money back...
I know you're upset with lack of progress here, dude, but if you're holding on, you have to believe it has a chance...
Otherwise, there'd be no point in holding on...
Other longs who are in the same boat...there are thousands of other stocks to buy out there...if you're still holding here and really believe this has no chance, then I don't understand...
Just like "just a new investor", you can take your capital and try to get onto a play you believe in...
I think all of you, understandably, are upset at lack of progress and the 1 step forward, 2 steps back strategy...
I understand your pain...I'm an investor too...but, let's get a gut check here now...you're in...or you're out...
Joining the angry mob isn't going to solve anything...if it's venting and it makes you feel better, then by all means, go ahead...
But, if you're still here...you believe it still has a chance...and you're afraid you'll miss the boat...
That's what the sharks want...
Dude...
I know you're frustrated...
but, if you don't think this is going anywhere, if you think it's a scam, why wouldn't you sell your whole position?
Mark...would this mean you are out?...is that your whole position?
I just talked to Redwood on Friday...and the Friday before that...don't know why you're not getting through...
You know what?....you live and die by your own decisions...
That's what you did...
You didn't have somebody else making those decisions for you...
Be happy for that...
Let's try again...
"If you had a drug which cured cancer, would you put it on hold since the drug might also make a good household adhesive and pursue that path instead?"
Yes, knowing you would need a lot more time and money in clinical trials, you'd do whatever you have to do to get money in the door so you could fund those trials to get the blockbuster cancer drug to market.
If you don't think all companies don't do the same thing, then you are naive.
More than that, your completely negative slant (as well as wechoose=Fairwayiron on RB) on these companies leaves your agenda conspicuously on display. You either have an axe to grind or are making money posting negatively against this company...
Non-shareholders would not spend this much time on a message board trying to convince everyone else that this investment is not viable. If they believe that themselves, they would walk away and look for the next investment alternative.
In the meantime, actual shareholders with actual money on the line are understandbly disappointed with the pace and progress of these two companies. Despite their statements and complaints to the contrary, they don't sell because they are hoping this turns a corner and they can get their investment back (at the very least) or it turns into the investment they thought it would be in the first place.
To think that you have no other agenda here other than to "protect" investors from themselves provides a good laugh at best.
The fuel and the process are there. You know it. You were on this board months ago trying to disprove it and now, no matter how hard you try, you can't. Summit and now AmSpec have validated it. My own contacts have spoken directly to those involved at AmSpec. They have high praise for the fuel.
So you'll try to exploit other avenues. You have other motives. You know it and I know it.
"I can only surmise that he was being systematically cut out of the loop, after they used up his expertise, and after all that he sacrificed, he would be left with nothing."
Assuming the allegations are true, I certainly hope you are not using this as a reason to defend Mr. Smith's actions...I'm sure Smith wasn't working at USSEC/SSTP for free...whatever his compensation package was, that's all he was entitled to...
That's the problem (if your musings are correct)...people think they are owed more than they really are...
Greed kills...
Great post....keep up the good work
He's on the move...in transit...
Well, apparently, the dividend issue did not work out for you and for that I'm sorry. I'm sure that was a disappointment.
I do not agree that Redwood lied about that issue. I don't think Redwood understood that issue if that's what they told you. That may or may not be Redwood's fault. I can't answer that.
I'm not telling anyone to accept Redwood's answers for anything. I spent an hour grilling Tessi (and Paisano a week before that) asking as many questions as I could to try and get a handle on what's happening with these companies.
It was also my chance as a shareholder to convey my disappointment in the lack of information that is coming out and to pass those thoughts on to management.
Obviously, as the investor relations arm for USSEC/SPC, they are going to be supportive of the company. You have to determine whether you are too based on more than just information coming from Investor Relations.
Rock...
I wish I could answer those questions for you. I asked Tessi the question because I overlooked asking him last week when I was trying to get a status on the permit process. I assumed it had to do with transporting the fuel. I remembered to ask today and that's what he told me.
This was obviously an unfortunate misstep by management/USSEC's legal team in not knowing these permits were needed ahead of time before announcing fuel was going to be sold and delivered.
Now they know and they are working on getting what they need to get over the hurdle.
As for Ron, I haven't spoken to him since he posted that his lawyers and USSEC's lawyers talked turkey and he was okayed to take delivery. I can't answer that question. I do know that Ron wouldn't have said it if he didn't believe it and given Ron's association with JR, I doubt he would drive from Connecticut to Mississippi unless he was sure he was going to take delivery.
I'm assuming you are a shareholder and if so, I understand how you feel about the zigzag management appears to be taking in making this venture successful. All I can tell you again is it is JR's show. If you're a shareholder, you paid for the ticket. Hopefully, it will all become clearer sooner than later.
Of course, you could always call JR himself and ask (or e-mail him at jhrivera@ussec.us. Maybe his answer will help.
Let me clarify....
Tessi's "optimism" should not be taken as a sign to go buy shares or that positive press releases are a slam dunk for next week...I didn't use that term to try and influence anyone...
I chose a term that embodied to me what he was telling me...whether it comes to fruition or not is dependent on what JR is working on currently. Like I said, patience is key here. I didn't mention it to raise anyone's hopes only to have them dashed to the rocks if it doesn't happen next week.
I was clear at the end of my message that this whole thing will happen on JR's timetable. I only reported what information I received from calling Tessi.
I would encourage shareholders to call Richard Tessi at Redwood and have him tell you what he told me and you can assess his statements for yourself.
I have spoken to Tessi twice now and Richard Paisano probably a half dozen times or so. I have never had them being overly optimistic (other than their belief in the process and product which has been independently validated) nor had them "pumping" the stock or the timing of any potential move in the stock price.
I stand by my statement that the product and process are there.
I shouldn't even be responding to you, PP. You are on the list of non-investors who don't have money riding on it and clearly want this company to fail. You are certainly no white knight trying to save investors. If you were, you wouldn't be hiding out here on a message board. You would find an acceptable public forum to press your concerns about pink sheet stocks in general. Whatever your motives, I can only conclude that you either a) have an axe to grind or b) are/will make money if this company does not succeed.
You can't convince me differently.
Shame on you. (and wechoose=Fairwayiron over on RB)
I doubt it will be today...I spoke to Richard Tessi at Redwood this morning...
All I will say is he sounded optimistic that there would be some positive news released next week...
He confirmed Smith's arrest on embezzlement charges and that Smith is no longer associated with either USSEC or Sustainable Power...he also said Smith did not disclose the nature of the proprietary catalyst...
Whether that means he didn't have access to that ingredient(s) or knowledge of it or USSEC/SPC has established that that information wasn't disclosed to outside third parties, I didn't ask that particular follow-up question...my guess is since the catalyst is a crucial piece of the Rivera Process and Rivera is holding it as a trade secret, he is keeping it close to the vest and Smith was not part of that circle (assuming JR is not the only one who knows)
The permit status is still in progress...I could not get a timeframe...I asked Richard what the permit was for...he told me it is to change USSEC from a research and development company to a company that will be producing and selling products....
For shareholders, the product and process are there...it's JR's job to get it to the finish line...from talking with Tessi the last two weeks, he sounds confident that will happen....and while us shareholders want it to happen now, it will happen on a timetable that only JR knows...
While I understand the frustration that some shareholders vent on these message boards, it won't change the outcome..
There's nothing to do now except get a deck of cards out...and wait...as patiently as we possibly can...
My source outside of USSE (family member who knows one of the individuals from AmSpec involved in the USSE testing) told me AmSpec was in Natchez at USSE on July 27th through
July 30th...
If that helps...
I thought there was a post recently that referred to a link saying USSE was no longer available as a naked short candidate?....
So?....what does that mean?....you decided two weeks ago the fuel wasn't going to meet the ASTM standard?...
That the fuel couldn't be sold?...
Gee...seems like the report from AmSpec was released less than two weeks ago...
Call them...today (since you seem to talk to JR, I'm sure you could reach him today)...AmSpec might have to wait until Monday...
I would...except posts like this hurt investors...
They are designed to mislead investors...
He's been doing it at RB...and he's doing it here...
Investors should, if they have a question, call the company management or other parties to confirm...
I'll keep saying it...yes, I am an investor...
And I don't care if anyone else chooses to buy, sell, hold or ignore the stock of this or any other company...
Just separate the wheat from the chaff...there are honest people on this board who share what they learn, good or bad...then there are those who clearly have an agenda against this company...
So, is that facetious?...or straight poop?...hard to tell nowadays...
When did you talk to either?...today?...
As the game goes..."You Don't Know Jack"....
You're specualting....out loud...
Call the Boss....talk to him...I mean, he does know something about fuel and fuel standards, no?....
Why should WE be asking...We doesn't have a problem...
You should be asking...Call AmSpec...Call JR....
Why the he** would you be on a message board asking that question?
Seems to me you could put this all to rest for yourself by calling JR....I mean, he is in charge over there in Natchez, no?...
You're his "buddy", right Doc?....I'm sure he'd be more than happy to go over it with you...