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So what does this have to do with TEVE? I highlighted these parts in your post:
This means that recently, most of us smaller integration firms have been unable to make money selling products alone – and soon may not be able to at all.
Consider music and video servers, which previously sold for thousands of dollars but are now on their way to a slow demise because of online services offering instant access to whatever music, videos and games that customers want.
Now where in the overall competition with R&D moving forward is Telvue? They have no cash, plan is to use shares as proxy states.
Fact:
In all those years, never profitable.
Yet you fail to see where the proxy states because Lenfest is accepting the shares in the amount over 75,000,000 shares dilution takes place as soon as this deal is approved. Thus the proxy states it WILL dilute other investors shares. Thus the reason for the needed increase, 49 million to over 110 million shares. These shares though owned by Lenfest are in fact part of the float once executed.
That's one possible scenario, another is to, like other pennies, utilize their stock as "currency" to pay for advisors, attorneys, PR firms. It's what happens when a company becomes or is lacking in cash.
Jack that was my point, an authorized share is not part of the float, but can be added to the float, ie TEVE decides to sell more shares to raise funds, that just takes SEC approval and usually a vote by the board of directors. This prevents them from going into debt while gaining funds from the sale. As we both know, the float is traded amongst investors and does not add a dime to TEVE coffers. Problem is as we've discussed before adding more shares, just like this deal will dilute current investors shares. Not my words its in the proxy.
Read the Proxy. This is what I gather. Mr Lenfest is getting 5 million dollars of his 25 million. Other 20 million being turned into shares, thus the increase from 49,000,000 to over 100 million. I gather Mr Lenfest is removing himself from TEVE, getting what he can, and thereby accepting the deal of debt to shares. Any money he does not get from this transaction becomes a tax deduction for him, created as an investment loss. Again read the proxy. Sounds like the CEO and Minority directors are about to take charge once this transaction is complete. Thereby, eliminating debt on paper as the proxy says to make it more attractive to other investors. Again that tells me Mr Lenfest is moving on, otherwise why do the transaction, why make it attractive to "other" investors? And by investors they are talking about lending institutions, not stock owners. I believe the Lenfest pool is drying up and it's now time for TEVE to swim on its own. I'm not saying they will sink, they may do great, but at this time please read all of the proxy, and you will see.
From the proxy to enforce my point:
In addition for purposes of consummating the Debt Conversion Agreement, the Board of Directors also believes that it is in the best interests of TelVue and its stockholders to increase the number of authorized shares of Common Stock in order to provide additional shares that could be issued for raising of additional equity capital or other financing activities, stock dividends or the exercise of stock options and to provide additional shares that could be issued in business combinations and to better position the Company for future trading should a transaction be entered into and completed. Approval of the proposal would also permit additional shares of stock to be issued without the expense and delay of a stockholders’ meeting, which could delay or prevent the consummation of a transaction
Let's take this into account as I had not fully read the proposed Proxy but here is a part of it explaining my concerns:
"Impact on Stockholders of Approval or Disapproval of this Proposal
The substantial increase in the number of outstanding shares of Common Stock will have a dilutive effect on the Common Stock of the Company. However, the Debt Conversion Agreement and associated issuance of shares of Common Stock will permit the elimination of all of the Company’s existing debt. It is unknown the effect, positive or negative, that the transactions to be undertaken pursuant to the Debt Conversion Agreement would have on the future value of the Company or the Common Stock. In connection with the Debt Conversion Agreement, as noted above, TelVue’s management engaged 4Xe to act as the Company’s financial advisor and to render an opinion as to the fairness of the debt conversion from a financial point of view to the minority stockholders of TelVue (i.e., those stockholders other than Mr. Lenfest, management and the other directors) (the “Minority”). "
The rest of the proxy I leave to you to read but it's not as rosy as many make it out to be. Many concerns are listed by the company. But remember Qtip, you are in debt until this passes, you do not have a large float until this passes. And let's also clarify one thing Authorized shares are not Available shares. It only gives the company more chances of selling stock to continue to raise money, causing even further dilution. This I understand as they hope to utilize stock to raise money vs going into further debt. But success of this strategy all depends on the company moving forward in a profitable status. And to this point they are not. Proxy mentions that concern.
Who's attacking TEVE, but instead a few are asking questions because on the surface these things don't make sense. I do believe the same thought process was also prevelant on another stock board that is now near death. To ask questions and discuss possibilities of TEVE's actions are warrented.
I'm sure the CEO of Citigroup would take exception to your very public comments. But feel free to explain why comparing a company who is doing a reverse split with another that already has is reprehensible. Here's a few links for you discussing reverse splits and consider TEVE as you look at these and ask yourself why? What would possess a billionaire to do a reverse split, why not just do a stock buy back to lower available shares, increasing share value?
http://www.usatoday.com/money/perfi/columnist/krantz/2010-03-04-reverse-stock-splits_N.htm
Here's an excerpt from the above link "Reverse stock splits are exactly the opposite of regular stock splits. In a reverse split, companies take back shares, to artificially boost their share prices. This raises the price by reducing the number of shares outstanding."
But why then increase authorized shares to 600 million?? This does not make sense.
Here's an article supporting my position using the stock I previously mentioned. Now remember, I am not comparing the two companies but am comparing the reverse split scenarios. This link mentions several companies and their results.
http://online.barrons.com/article/SB50001424052702303389204576484341965875236.html
Now not all reverse splits perform negatively but a majority do. But how many have increased their authorized shares. I welcome your thoughts.
You have this wrong, this is a reverse split, usually very negative just like when Citigroup did their reverse split, went from approximately $3.15 to $31.50 in a 1 for 10 reverse split. It now trades at $29 or so. But what is amazing to me is that not only is the reverse split going to happen, if approved, an additional 500 million shares will be authorized. So do the math, 200 becomes 1, 45 million becomes 225,000 but authorized shares goes through the roof. Why?? 100 million shares you would think would be plenty after the reverse split. We shall see in the near future.
In case my previous post is deleted, here's the point:
Who here is aware of TEVE's ability to move forward on this "new" protocol? What do they have in their R&D department? How much will this new effort cost them? Sounds like "on demand" that I get through my cable. Same concept as on the internet. The data has to be stored somewhere, has to be requested, has to be sent and has to be received. I think competitors like Cisco are more able to advance this technology than a company dealing in public and government access. Of course this whole discussion is based on one person's talk with "someone in silicon valley". Do we know who these "industry leaders are" that were mentioned?
You are correct sir, in the discussion whether pro's or cons about TEVE, one must discuss what another said and either agree or refute their points. You also must, in a proper discussion of teve also talk about their competitors, the overall competition and the overall framework of teve's business. It is never personal, but in this discussion you cannot forget about the massive increase in authorized shares while discussing future pps. You also cannot properly discuss a "new" potential product without discussing the overall competition. To discuss something "heard" about a new product in Silicon Valley and to dismiss the overreaching assumptions is foolish. To assume anything positive here as fact while dismissing a desenting opinion is also foolish. That's what a discussion board is; therefore, my points were made accordingly. As I see someone did not agree with the format of my post it was deleted. So bottom line, protocol 5, found nothing about it anywhere. No link, no mention of it outside this board, maybe I missed it or maybe it is only in silicon valley, but let's remember where TEVE is located. Have a great night.
All I can say is read the proxy statement. That info is posted in TEVE section in IHUB. I'd recommend for those that are serious about this stock, and their "greed" to attend the meeting. Good Luck
Did you read the proxy statement??
Dear Stockholder:
I am pleased to invite you to attend TelVue Corporation’s Special Meeting of Stockholders, which will be held at the executive offices of The Lenfest Foundation, located at Five Tower Bridge, 300 Barr Harbor Drive, Suite 450, West Conshohocken, PA 19428 on ___________, March __, 2012, at 10:00 A.M., for the following purposes:
consider and act upon a proposal to amend TelVue’s Certificate of Incorporation to retire and cancel its existing authorized Class A Preferred Stock;
authorize and approve a Debt Conversion Agreement;
consider and act upon a proposal to amend TelVue’s Certificate of Incorporation in order to increase the number of authorized shares of TelVue’s common stock, par value $.01 per share, from 100,000,000 shares to 600,000,000 shares and to authorize 22,500 shares of Series A Convertible Preferred Stock; and
authorize the Board of Directors to amend TelVue’s Certificate of Incorporation to effect, in its discretion, a reverse stock split of the outstanding shares of TelVue’s common stock, at a specified ratio of 1-for-200.
Your vote is important. Whether or not you plan to attend the Special Meeting, please vote as soon as possible.
So there you have it, you own 200 shares now you own 1 later, but at what cost?? Would be pretty easy to do the math, if share total available shares were staying the same (amount of the value you hold would not change as pps would adjust accordingly) but they are not; now that not only is there a reverse split but shares increase from 100 million to 600 million, massive dilution. May be setting up for a pump??? A Sale of assets??? You decide. For those of you that argued it had a low float, not anymore...
Thanks for the correction, not intended to be a mistake, but a mistake nonetheless. so let's deal with the 87 million more shares, still greatly increases the overall share availability and causes further dilution. Discussing what another individual may do, I agree, is pointless, but he did sell one company for billions, he may be setting this one to do the same but not near as much. We all will see in the future. Have a great weekend.
I'll answer your questions:
Q: Why not asking for 4% dividend?
A: WHAT??? Please rephrase.
Q: Is for 4% dividend not better for us then paying 4% interest rate?
A: 4 percent is 4 percent regardless of how you call it, at my credit union I get a dividend, at my bank I get interest. Bottom line you as the investor get nothing out of this deal.
Q: Does this not mean that HE believes HE will have soon dividends otherwise he gives the money for free?
A: He never gave the money for free, just look at the 8K's, 10K's etc that explained the interest he was to be paid for these "loans" to the company. He just has not collected and has extended terms on those that came due. Now he WILL get 4 percent on his money, mmmm 30 million dollars (using your numbers for the sake of argument), 1.2 million dollars a year in dividends?? How much income does this company have to pay that amount??? After that what is profit for the rest of the shareholders?? How will that benefit a cash strapped company that needed to borrow in the first place or for the last 15 years for that matter?
How will this dividend be paid??
How many shares? 30 million dollars divided by .035 equals over 857 million shares. Adds a bit to the stock outstanding shares total don't you think???? Granted, Float is not effected but when valuations come in those millions of shares will reduce your value per share significantly.
Your points: It means:
1) we are free of debts (NO, YOU ARE NOT,His preferred shares will be sold sooner or later depending on Mr Lenfest and any restrictions put upon this deal. In the mean time it will cost the company millions in dividend payments.)
2) the shareholder believes he will get dividends, means we will be soon profitable! (Maybe, or he plans on selling which is more likely, but add the additional 857 million shares and how much value do you honestly believe will be added to your shares?? NONE)
Thanks Jack, but the key word is BUSINESS. All Mr Lenfest did was renegotiate all his past investments to a solid four percent. Benefit here is I believe previous "notes" were actually higher in interest. Actually as majority stock holder, renegotiate is not appropriate, he just felt it better for the company to eliminate the "debt" but increase shares instead. He gets the 4 percent, what does the individual investor get, granted a better balance sheet? Why didn't he just eliminated the debt all together, like has been said, he doesn't need the money and he is giving away his billions in other ways. So who does it really benefit. Time will tell, but you can figure out just how many shares he will get, add that to the total, figure out the 4 percent and then look at the income this Business is producing and see if all the numbers add up. ...., and for those that want this discussion board to be nothing but a cheerleading squad without any "Business" related discussion. Sorry for you. In a discussion board about TEVE, it should be a business discussion pros and cons.
Why? This is nothing more than "eliminating" debt to the blind public hoping future investors don't see the sudden increase in shares. Seeing that there are preferred shares involved, the company is still beholden to the share holder of these shares. I'm assuming mr lenfest will be the shareholder of record as they are preferred. So instead of going through the SEC to increase amount of ordinary shares which causes immediate dilution, to raise money to pay off this debt, they do an exchange from debt to shares. Again assuming mr lenfest will hold these preferred shares, he now will get a 4 percent dividend on them. How much are you as ordinary shareholders getting??? WHAT?? no dividend?? No kidding. This exchange benefits the preferred shareholder, Mr Lenfest. Yes it helps to "dissolve" the debt on paper but dilution still occurs as more shares whether preferred or ordinary are added to the equation. Good Luck on your upcoming vote. Hope you find out the specifics before you applaud this move and vote for it. Knowledge is power.
Why do you believe this company will succeed, facts please
Its not the concept of Debt, but the ability to repay that debt and it's interest, thus the debt crisis in other countries, and soon to be ours. Debt to income ration is also key as average company debt is 13 percent to facilitate R&D / expansion etc. I see none of that here, but rightfully so as long as Mr Lenfest continues to delay payment, this debt is not of great concern, but when he calls it due, or is no longer involved in the company what will happen.
And, regardless of the multitude of companies that dropped from OB to PK is irrelevant as you have a billionaire investing in a company that he could easily bring forward to the major stock exchanges, so why isn't he? because the fees alone would cause further debt that this very small company could not handle so he'd either have to put in more money or write the whole thing off and shut down. So why not put in more money, why no major success since its inception? His best bet is to be bought out again by someone else. THough not much money in public access, educational or government programming. PBS has been subsidized by the government for years. There is no profit in such. In it's current format, and lack of exposure TEVE will remain in the lowly Pinks.
Joe, Please explain how debt becomes a tax write off for TEVE, it is a tax write off for Mr Lenfest along with the billions he is giving away as part of the Gates/Buffet Billionaires Pledge. trying to take past comments and spinning them does not make them accurate. Companies' can write off a myriad of things but debt is debt, they need income/profit to pay that back unless they declare bankruptcy to reschedule/consolidate/renegotiate that debt. Problem is, is that debt continues to grow, thus the expense to pay that debt continues to grow.
What is this bushel basket you talk about? I take it in your opinion this basket has kept telvue from flourishing???? So let me understand, it is marketing that has kept TEVE from moving out of the pink sheets? So you are placing the entire future on this new persons shoulders? Not very reasurring is it. As per Business Week: "Telvue Corporation markets its products and services through direct mail; e-mail; Internet banner ads; search engine optimization; the company's Website; online videos and webinars; and telemarketing."
Wonder what her compensation is going to be, More overhead? According to Business Week for fiscal year 2010 top 5 TEVE executives made a total of $674,000. Pretty good for a company losing millions each year. Anyway, Good Luck. But investors should be asking this: With a Billionaire in charge and supplying all this money, why is this company on the pink sheets? why did this company drop from TEVE.OB stock to TEVE.PK?
Bad mouthing is not a scam, it's an opinion. These opinions are most often supported by facts or dealing with a company lacking in facts. Most positive comments on this and other penny stocks have no basis and are only wishful thinking. Ignoring the obvious is not a good investment strategy. Secondly, those in pennystock land have one major problem, denial!, Denial that they made a bad decision, denial that they can't possibly lose any more money, denial that lack of information and lack of news is a bad thing. Denial that a 15 year old company with 23 employees, no growth, is a bad investment. Denial that a company with so much debt, (avg company debt is 13 percent, is a bad thing, which it is and just how much debt to income is TEVE?. All this being said, if Lenfest really wanted this company to explode he would do it, he has the money, he purportedly has the technology, so ask yourself, what is he waiting for?? I do hope You are correct here Jack and you make a ton of money, but like your other stock, not a good thought process behind the reasons to buy. Hope is a bad strategy. Have a great weekend.
Actually the best thing to do is conduct your own research on ROKU, interesting to read all the reviews, some are excellent some very poor, channel selection reviews some good some poor, you can make your own decision, but ROKU has nothing to do with TEVE other than allowing certain stations to be viewed, which ones are TEVE associated is hard to tell. ROKU is nothing but an aid for streaming video to support netflix, hulu etc, taking the place of many game consoles bluerays etc. Again more personal research is required. So would I buy this just to view TEVE stations???NO
Still trying to find out exactly how much continuing dollar inflow is created for TEVE per system, per client; as from what I can see it is a one time purchase with optional warranty service if requested. Otherwise, a simple warranty on the product. It's obviously not much money comparing the total alleged client list vs total annual income. Like when Sony sells you a blue ray player, one time purchase, warranty for a year. Period, only help in increased revenue is raising the price of the player along with increasing number of customers. Now what marketing have you seen lately for TEVE systems. I go back to only 23 employees. This is truly under the radar and obviously for a reason.
Why would I want a ROKU box? What do you pay for that?, I have digital, on demand cable, I have internet with movies in a second, why would I want a ROKU box? they can't possibly compete? As for QTIP, an entire industry recognized TEVE or was it a small magazine that noone really knows of. TEVE didn't even do an 8K announcing the award. MMMMMMM So if you're an investor yet not following this board, how would you even know.
Downplaying?? Please show me an upside, you continue to recommend this stock. Why? With facts please.
Clearance, none, it's their equipment they are servicing if servicing at all, I'm sure that any of these products are outside of any "security access" required points. If they are servicing, then financial reports should be stating contractual payments as opposed to just sales. Yahoo TEVE profile reports 23 full time employees, now you are saying that the 1000 stations and all the three government entities are all being serviced by a few people nationwide??? Anyway, if this was a lucrative contract this company would not be a penny stock, so I leave you to your dreams of greed.
Jack, do we know what the nature of that business is? Most government contracts are very lucrative for the private sector. Did these agencies just purchase a teve product or is there a service and support contract along with it. Just what did these government agencies get from TEVE?
So much for a professional discussion on TEVE's corporate structure, business plan, profitability, or why someone following this stock for the past 15 years would not relish the opportunity to explain why this stock is such a great buy. I think his "iggy" explains it all.
an empire??? 1000 stations??? Please what is an empire to you? I've never seen an empire in pennyland; and just what is the viewership of these 1000 stations? Maybe we should check with Nielsen ratings???, All are municipal, public access?? And where are these located? Haven't seen one in anyplace I've been?? I'm just asking questions, can you give a decent answer without becoming defensive and angry? With 15 years of following this stock, what has been your annual rate of return?
That's pretty funny Jack, I believe you said the same thing about another stock that is soon to go subpenny. Can you explain why you feel you have a winner? I mean, this is a penny stock for a reason, now just why would a billionaire be associated with a penny stock, why not do a reverse split or a stock buy back at these levels to get share price to 5.00 and place it on the big board? Why not give it legitimacy after all these years. Why?? because this is the billionaires tax write-off. Millions to a billionaire is not much, but if it reduces his overall tax bill, it only makes sense. As we all know all you have to do is show intent to run a business to take the tax deduction / writeoffs / depreciation. But think about it, for Christmas you bought a TV that doesn't work, do you let it sit there and hope it fixes itself or do you return it and get your money back. Why continue holding a stock like this while nothing shows any sign of life?
You don't need the company to explain things too you? I understand that because like your other stock what you were told were lies so why ask in the first place. Blind faith can be less stressful, but not very profitable. No not saying this stock is in the same category as the other one, but you have to remain with a "buyer beware" attitude.
I wish you luck. One question, how many employees are there in this company?
Due diligence is NOT going to TEVE's website and believing everything you read or doing a copy and paste. When was this list last updated? DD would be to take these lists, find a contact person for each entity, call them to see if they are in fact customers, how they feel about the product, do they intend on staying with or changing product in near future. How do they feel about what they pay, the services provided etc. Before you buy the stock you should be checking out and asking questions as to the viability of the company as a going concern based upon the answers to these questions.
Also DD would be finding out exactly how much money these entities are paying TEVE for the services. So many clients, so few dollars, and no profit. DD would be to find an answer to the above. Good Luck, and may you have a Happy and Prosperous New year.
There never was a river, only a mirage.
Very insightful post, now we can add the multitude of PR's that didn't happen either. History does in fact repeat itself, :
Alabama Nope
Montana Nope
China Nope
New Plant Nope
Plant upgrade Nope (decided to sell instead)
Ashcroft Bio Nope, Nope and Nope
New Management Nope
New CFO Nope
Dr Freeman Nope
New Brazilian advisor Nope
California advisor Nope
New Contracts Nope
Accurate and timely Financials: Nope
And whatever else I've forgotten.
Happy New Years!!!! May 2012 be more profitable than 2011
Back to CPOW, who has anything positive to report on this stock? Anyone?? Who is buying? Anyone? Comments made recently about someone knows how pennystocks like CPOW go up and down. And this stock is no different, therefore, pump and dump is all you get, yet months ago there were several who insisted that this company was for real, that this company was "different" than the others. 1.00 by the end of the year, China, china, china. So what happened? Lies, Fraud, Felony???????? Or Just the norm in penny stock land? Buyer beware.
"Because the messages in question violate the rules of I Hub." I guess that's why you had a message recently deleted also.
"You can discuss the company all you want but not the people that post here. " True Jack so let's talk about why you say "in your opinion" that investors should buy CPOW stock?
"EVERYONE THAT IS HERE HAS A MOTIVE. Keep that in your heads." Why is this brought up again, has nothing to do with the company. Violation!!
So explain this comment please. We all know why the stock went up, and we all know why it is tanking. But explain why you feel someone should buy now.
Thanks for the kind words.
be·nev·o·lent/b?'nev?l?nt/
Adjective:
1.Well meaning and kindly.
2.(of an organization) Serving a charitable rather than a profit-making purpose.
Now see below, anonymous reporting of suspected scams, found on the British Columbia Securities website, www.bcsc.bc.ca
http://www.investright.org/report_scam.aspx
Continuing thought, let's not forget all the China PR's. For those shareholders thinking of filing a complaint. All you have to do is look at the past years PR's and 8K's. Yes full of forward looking statements, yet there has never been any proof that he hired anyone, that Chinese ever visited, that he ever went to China, Despite what he represented in his PR's. Only items we have proof of is that he made an agreement with the Montana plant that turned into a lawsuit, and he made some sort of agreement with Phoenix aka Ashcroft which turned into a lawsuit. So reviewing, anything that Mr Shenher has been proven to do has been devestating to the shareholders. All unproven 8k's and such have been (?) You can put in your own word there. Now he supposedley sold his Regina property, then supposedly is renting another, and supposedly looking to start marketing his "products", again without any proof whatsoever. Good Luck to those shareholders in their fight. I wish you well.
First in response to your post, having a product means nothing, but you have to ask yourself why has he not fixed the annual report that was deemed inaccurate? Why has he not submitted the last quarterly statement? Just what method of payment is he using to "lease" this new building?? Where and how is he paying for the raw materials? All the same questions that were asked previously yet never answered. Again many questions, no answers. Nothing leads me to believe this stock price will go anywhere until the CEO comes clean with Everything that has happened in the last year. But now, not only is he dealing with a lawsuit from Montana plant, he's now suing another for what Mr Mckinnon calls frivolous. See below with link. Could this be "mike's" way of the tail wagging the dog? I think so.
Info from Yahoo board:
First reaction from McKinnon.
"A Saskatchewan company has filed a lawsuit in B.C. Supreme Court against an Ashcroft canola firm claiming it has “breached contracts and misappropriated confidential information.”
Clean Power Concepts Inc. filed its lawsuit in court in Vancouver on Monday, naming Ashcroft Diversified Bio-oil, Phoenix Alliance Corp. and Andrew McKinnon. It sent out a press release Thursday announcing the lawsuit but did not provide details of Diversified’s alleged wrongdoings.
Clean Power produces filtered canola oil, canola feed meal, lubricants, chemicals and additives. Diversified Bio-Oil is building a canola crushing plant at Ashcroft.
McKinnon, the head of Diversified, said the two companies discussed prospects for doing business with each other, but have since parted ways. He vehemently denied suggestions made by Clean Power that his company did anything inappropriate.
“It is totally frivolous, without any base,” said McKinnon.
It’s not known when the case will reach court."
http://www.kamloopsnews.ca/article/20111201/KAMLOOPS0101/111209979/-1/kamloops/lawsuit-makes-claims-against-ashcroft-canola-firm
"Just wait and see" Hate to say I told you so, but this penny stock is no different than all the other pumped stocks in the past or the ones being pumped now. No substance. The rise was a small newsletter, paid by someone so they could dump their shares. And dump they did. Could it have been IBA, remember they were paid in shares, Phoenix?? I'm sure they were paid in shares. CPOW is now only a shell. IF you think otherwise you are fooling yourselves.
Goldbugger, again I ask, please show me one post of mine that smears CPOW, one post that says anything untrue about CPOW, one post that you consider to be "bringing" down CPOW. IF you want that you only have to go to the CEO, the entire problem lies within. I guess you forgot the annual report period was thru April, first quarter as well is very late. What do you think the second quarters report will say? Sold Plant, No product, no Income, more debt, more dilution, Website under construction, Paid Phoenix so many shares, then tried to make deal with Diversified BIO, same guy who owns Phoenix, who convinced him to buy their oil instead of making their own, then hired him and his 60 million share advisor, then the fallout, no oil, no product, no job, no advisor. No plant? OOPS then there is the potential lawsuit with the montana plant, where the CEO specifically made the mistake of signing the lease before doing a cost analysis as to the maintenance required to get it up to standard. Lack of Planning, Lack of Execution, Lack of Honesty, remember all those people he supposedly hired?? OOPS, Alabama and Dr Freeman?? Did we forget so soon?? You see you can say I smear CPOW but if the CEO did his job, informed his investors, stayed true to his word, there would be no "smear", because the smear you talk about is CPOW reality.