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They don't protect against fraudulent statements. Thus the SEC lawsuit. They also don't have any bearing on a pinky.
When a CEO of a company tells me that he will be selling product and generating revenues in 8 to 10 weeks, it should be believable. If it is a lie, he should be held accountable. Now that it is over a year and 9 months without it coming true, I think we can safely call it a lie. If he also says he will be spinning off a company, and if I buy today I will be an owner of the spinoff it should be truthful. On the other hand if those are straight out lies by the CEO, he should be held accountable for civil and criminal charges of fraud. Simple enough.
The SEC is just the beginning of JR's problems. It all ends with a cell mate named Bubba.
If he is short, he has your money.
Alcorn State has some sort of satellite building down the road from where SSTP set up its first office in Natchez, probably 2 to 3 miles from the main USSE plant. The building is about 20 feet by 40 feet in size. JR had Alcorn Staff who weren't in the fields of chemistry, engineering, etc. verify the production way back when. They were probably from this office, and I think they were in the agriculture field. From that morphed, "Alcorn State witness and confirms JR's claims". They had no background for any sort of scientific verification or validation of the process. Other than being an eye witness like so many have seen.
Does it? Where are you seeing it sold and used? How much money have you made in the last 2 years from production, and how much has JR made?
"He has the plant now"
And still you can't purchase JR Juice.
Out of that fuel, how much BG-100 was produced? Same for marine fuel? Which ASTM's did they meet?
The only one that met an ASTM cert was the OD-66, which contains 1% of JR biocrude. It is also cancelled as far as a product.
What is the cost to produce one gallon of BG-100? Is it financially viable?
How do you know this is a new tube if you didn't see the ones in Natchez? What is the increased yield? Increased over what? Since no one has data from real runs in the full sized reactors, what are you basing it on, JR's word? Only announced yields have been extrapolations of the test reactor at 20 pounds of soybeans. I would love to see the data entries, from a full reactor, who provided them to you?
Why did you buy stock if not to make a profit? If you are here just to cheer for success in a new fuel you didn't need to invest. I say you put money in to make a profit. You could have chosen any one of a lot of new companies, but you chose this one. Why? Unless you were throwing darts it was because of statements made by JR. JR has a certain responsibility to you when he makes claims and entices you to invest. You put money in you are entitled to some level of responsibility by those that took it.
Somehow I don't think this is going to help the stock.
I don't recall Edison ever being arrested? I guess you just keep trying till you get it right.
Then the setup is essentially the same as April 2007. One tube running. So in the past year and four months, what has been accomplished? Why did JR state he would be producing 24,000 gallons a day from 4 reactors by May 1 clear back in February?
You can have a legit process and still be committing fraud. If you part money from people based on misrepresentation of events at that point in time, it is fraud. No patent, no contracts, no ability to produce and you say you have those, even if they come true 2 years later, it is fraud. The killer in all this is the profit of $700,000 for JR and Alice. In front of a jury, you will fry. Especially JR, have you met him, he reeks of guilt and snake oil salesmanship. That may only be the tip of share selling. They have another 18 months left to investigate.
You are close, but it should not be from JR. He is not credible. If a director of the company such as Ford or any other reputable individual wanted to post this information, it would be welcomed.
One that is on JR's payroll. If any money changed hands with that article, it will be difficult for JR to claim the author (I refuse to call whoever wrote this a reporter) made mistakes outside JR's control. Just more fuel in the fraud case, well the next one anyway.
The article appears to lack objective reporting by the author. If he was he would question who nominated JR for a Nobel Prize and mention the fact that currently the SEC is suing JR for fraud. By leaving out the last one, this article shows significant bias by the reporter and lessens credibility to the claims of JR. They appear to be in league. Is the magazine being paid to publish this article by JR?
The only ones that need an out are the longs. Shorts are way ahead with plenty of the long's hard earned money.
WRONG! Doesn't matter how good a product you have. If management lies, pumps and dumps they will lose. Just a matter of how much.
Wrap it in a flag and all is OK. Speaking of that evil greed from investors, JR seems to have his fair share to the tune of $700,000. It sure wasn't me that profiteered from this endeavor.
How do you close a plant that isn't producing anything?
Ever wonder where Alice got the shares? It would have to be several million shares to produce $750,000 in profit. If she is considered common law wife, then is the account considered joint? If not, what did she do to warrant that many shares. She is the company secretary from what I understand. A lot of people had to pay that $750,000 on the open market for her to put it in her bank account. Good secretary pay if you can get it.
Sorry Mike Veego, but those are serious allegations against Alice and JR. It is going to bite them in the ass.
I think you have been reading too many PR's. That is a news article of what she said. If you want to see the specific allegation go to the actual complaint filling by the SEC. Its first line is calling this a classic "pump and dump", doesn't matter if the fuel is any good or not.
Can't change a Rhino's spots. The reason he is in this position, and the company, will be the reason he drives it into the ground. He is after all the OWNER OF THE RIVERA PROCESS!! Don't mess with me. History will repeat.
Your head keeps getting deeper in the sand. What will your excuse be when JR is in jail? The jury was paid off?
I don't think the big oil companies are worried about a company that isn't producing anything. I don't see the biotech fuel companies CEO accused of fraud? They are upstarts as well, only they don't make false statements to pump and dump.
Not yet, time will tell. Also the door for share holder lawsuits has been opened. Not to mention the ongoing investor lawsuit in Mississippi and Stanton's. Not sure if ONYI is still pursuing one as well. I need a friggin score card to keep up.
Call in 007.
Ostriches and a Rhino. Some kind of combo.
I am not going to debate the fuel, I personally believe it is what he says it is. I watch and wait, if the facts show otherwise, I will change my tune.
JR's problem is he lied about the ability to produce fuel. Remember production in 8 to 10 weeks, we have a functioning facility, you get a share of SSTP for everyone of USSE, buy today at this price or you will never get the dividend, etc. People invested upon that info, and it was a lie. Thus fraud. Doesn't matter how good your product is, you can't represent it as something it isn't and take people's money. Sorry, but JR is gonna fry on this one.
What case was Rivera cleared in? Stanton is suing him in Mississippi. They just changed jurisdictions as of a week ago.
SEC can only file civil suits. It relies on the DOJ to do criminal. They usually have to go through a grand jury for this type of thing, which can take longer.
Funniest post of the day.
Safe harbor does not apply to pinks. Topic number 2, you want Stanton to testify on behalf of JR. That should add about 20 years to JR's sentence.
“Every case is brought about following a thorough investigation conducted by the SEC to insure that we are not making allegations we believe are unfounded,” she said. “We are alleging that Mr. Rivera was involved in some pretty pervasive fraud in connection with USSEC.”
Sustainable Power Corporation is not currently named as a defendant in the litigation, she said.
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Very ominous for SSTP. Mr. Rivera involved in very pervasive fraud. Lets see, what other company does JR run? Oh yeah, the one not CURRENTLY named. She didn't say anything about investigations, just not named in this suit.
Typically they go to a grand jury to get indictments. The FBI has forensic accountants and is probably helping the SEC, and vice versa.
As if switching captains after the Titanic hit the iceberg would make any difference.
Amen brother!
That is what the back 40 are for.
Did you ever get your 100,000 shares of USSE from JR for marketing, or whatever it is you did? That would be a wopping $2000 dollars at today's price.
How are your shares from a year and a half ago doing?
AAAHHHHHH, Memories. Makes one feel warm and fuzzy.