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The bankers and equity funders want to see real-life metrics on actual performance, not models. How many demo units has the company built, at what what scale, and what was the performance --- hopefully bigger than the plastic tube with dry ice in that old video.
The problem I have, is that company makes broad claims that the cost of electricity is cheaper than wind/solar, without having a clue what their capital costs really is or the performance/output of the system. They predict parasitic load of 33% - I think it will be 75%-100%. Pumping water up 1000 meters takes a lot of energy. A good reference is pumped hydro.
VSTA suffers from awful IR which repeats stale info without providing any relevant current news.
I chuckle at statements like "VistaGen Therapeutics’ founders established the company to make their dreams a reality" -- and $50 mm later, what has the company actually accomplished?
There is a reason the shares rarely trade anymore. I would love to know what Shawn does each day, since the company is basically non-functioning. Is he still sitting by the phone waiting for Herzog to call about the funding, in two weeks.
Lest we forget, Mission inflicted BGMO/Herzog onto VSTA, tainting VSTA by association with a scam-stock run by habitual liar that got slammed to the ground by SEC. Mission is putting investors to sleep with uninspired worn-out PRs.
I looked at it years ago. Frankly, an amateur production lacking rigorous engineering input which would show the concept is flawed. Sorry. I'll get out of your way so you can have fun trading stock that will end up dead. OPTT has similarly flawed system, but lucky for them they've raised north of $100 mm. Unfortunately, reality sometimes is not as much fun as a good story.
There is no chance of financing a project like this. Look at problems financing Concentrating Solar Thermal, which has 30 year operating history and well-known manufacturers and EPCs. The tax equity and debt markets won't consider a new technology on this (or any) scale. Period.
Common sense analysis dictates that the energy needed to pump high pressure water to the top of the structure (the parasitic load) will be a big percent of energy harvested from the cool damp air falling to the bottom. I would be shocked/pleased if the system produced any net positive energy.
No one can tell you how much electricity the system will produce until someone actually builds one of these -- the efficiency of turbines is hard to predict when the moving air is turbulent and the inertia (wind speed x mass) is an open question.
There is zero chance this system gets built. They haven't even built scale systems, so large questions on design and performance can't be addressed. Any engineer can quickly see the cost of the tower (by weight of material) is huge compared to likely energy harvest (function of solar energy falling on area at top and weight of the water). The system will create a downdraft, but the energy that can be harvested from the down draft is small.
There is plenty of untapped wind resources in USA that can be harnessed with existing technology at 3-5 cents kwh, so this system, even if it works, is unneeded.
Company has sordid history of trashing common.
The head-fakes and false stories go back years to Equus.
Baloney. Poison pills issue shares to all holders, not the inside cabal including Joe Canouse. By the way, who would be trying to "take over" this company to strip it of its non-existent assets?
QASP continues to be a fraud on the market -- good luck to those who think they can outsmart Canouse and his band of penny stock manipulators.
Nothing like a MMJ story to spice up the pump -- reality is grimmer.
TOXIC SERIES A PREFERRED - LICENSE TO SHAFT COMMON.
Read the Articles of Incorporation. Series A converts into 6x the outstanding number of common shares. This is criminal.
Too bad for Chamdia -- but what's this have to do with BGMO?
There is no question Herzog had/has unique ability to attract crooks/conmen, such as Robert Fowler, Vivek Singh, Shannon Newby, Snake Oil Ali of Epliconjob, Marc Outi, the Vancouver crowd, Platinum Funding, etc. Anyone know crooks behind National Wealth and Autilion scam?
I am amused that Camofi isn't taking Herzog's arrogance sitting down -- they have court judgment and continue to press that case.
Stock is utterly dead -- as it should be. Soon to be de-registered and extinguished for good.
Anything new about Herzog/Parekh/BGMO? Has Camofi made progress to enforce the judgment in Nevada? Love to be there when cops arrest Herzog for contempt of court. Amazing company still exist without making filings for so long, not that Herzog cares about fiduciary responsibility as CEO/Chairman of corporation.
I don't know what to make of the fixation with Pakistanis distantly related to BGMO. I found listing of their company. When unable to deal with reality that BGMO is worthless scam, burned friends of Sohail are projecting the problem onto others.
A year has passed since Singh was fooled by that sociopathic liar, Hillard Herzog. Singh can't say nobody warned him. What a fool he is.
Market Value = $60,000 Enough Said.
Not worth $10 bucks to paint the tape.
Pretend time is over - RIP BGMO
Those who don't remember the past, are condemned to repeat it.
Study the history of Equus/QASP.
There is a Series A Preferred stock with outrageous unfair terms controlled by insiders. I fell off my chair when I read the Certificate of Incorporation. It's a license to squash the common holders and suck out all value.
How much capital does QASP have to enter mj business? How many companies already compete? Given QASP's sordid history, there is little chance this is anything but another campaign to extract cash from the market. QASP still has toxic Series A Preferred. Still controlled by known penny stock shark. Still has numerous liabilities.
Hey, it's your money - don't let me spoil a good pump/dump.
EQUUS lives forever.
If Vigil had any business skill, company would already be in MJ business. Not just starting to study it. QASP is liability cesspool - no successful company can arise from a company with such massive contingent liabilities. There are plenty of clean shells -- QASP is toxic.
Opps, My bad.
I found out Herzog funded VSTA last week, and Greensafe Demanuturing plant is up and running in Canada, powered by solar energy from Suntrough. The New Delhi biomass/solar plant is producing cheap reliable power for the LED/solar street lamp factory. Hillard has repaid Camofi and all the other lenders, and will begin making dividends to BGMO shareholders right after the audit from Arthur Andersen.
Hillard says -- "my word is my bond, you can take that to the bank"
Money arrived today. All is well. Herzog is my hero.
I didn't realize Herzog was in Rome.
Quasar has been ineptly run since it's inception. What makes anyone think they can execute the MMJ business any better than they've done pilot training, mine seeking, etc? The company is infested with crooks and con artists.
Don't forget the "screw the peons" capital structure with asinine Series A terms giving the hold (Canouse) 5/6th of company no matter how much stock is sold -- never seen anything like this in a legitimate company.
Those who don't know the past of this company, will be kissing their money goodbye.
Never far away. BGMO shares "trade" rarely, BUT appear to have at least as much action as VSTA. Vacuum of anything new to talk about. Company is floating face down in swamp just waiting for SEC to close it down for good.
Anyone see or hear from the old codger? For our foreign language friends, codger is an elderly man, esp. one who is old-fashioned or eccentric. I got a great laugh seeing Camofi is still after the dynamic duo, and their legal defense (not showing up) hasn't changed.
The only remaining loose end is that chucklehead Shawn at VSTA. Does anyone know any of the directors or Platinum?
Trading Days in 2014 so far --57
Days when VSTA traded -- 15
Last trade date for VSTA -- March 12, 2014 (two weeks ago)
Total Volume YTD - 137,663 shares
Management provides very little information on the operations and financing of the company. The CEO consorts with a known conman, Hillard Herzog of Bergamo, and keeps pretending that an out-of-the-money flagrantly defaulted SPA could still close. Pitiful situation.
Shawny, when are you going to close the door on Bozo the Clown?
Attention passengers, this is the last stop before the train goes out of service.
Salim is right at home with BGMO -- which is run by conman Herzog who can't talk without telling a lie and now is hiding from shareholders and company stopped even pretending to operate.
Why is it that just about everyone associated with BGMO is scamster? What does that say about Shawny Singh that he tries to do business with known frauds? Is Shawny that desperate or just stupid.
Long time BGMO debunker, Aston Martin reports:
Mr. Silver found this info about BGMO/Herzog and his craven disregard for the legal system, corporate responsibilities and written obligations. Shawny keeps omitting material information in PRs and SEC filings about the utterly dark non-operating scamco counter party to the defaulted SPA. It's hard to believe Shawny isn't in cahoots with penny stock scamsters behind BGMO. BTW, who introduced them. Why is VSTA still paying for useless "awareness posts"?
It's unfortunate that VSTA stem cell assay method didn't catch on with pharma, since it seemed like a great tool, but passage of time and lack of any commercial traction does not bode well. I wish I knew what management was doing these days -- all we get is regurgitated pap from IR - no real info.
Let there be no doubt - VSTA is in bed with a serial liar and nothing good will happen from such dealings -- just ask CAMOFI and the numerous other creditors. vendors, partners who found HH's words not worth spit, of course, IMHO.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=98723770
http://www.washoecourts.com/index.cfm?page=casedesc&case_id=CV12-01534&Submit=Submit#dockets
Brilliant find, Mr. Silver. Kudos to you for ferreting out this info. Chat boards are great place to share due diligence, especially now that the company is utterly dark and non-operating.
Herzog/Parekh continue their bizarre misguided strategy of willful malfeasance and gross breach of fiduciary duty as representative of BGMO by failing to appear at hearings. They are running and hiding from their obligations, but thankful CAMOFI doesn't suffer fools sitting down. In due time, increasing bad stuff will happen as the noose tightens -- what's next -- asset seizure, arrest, penalties? Hilly can run out the clock, and he already move assets to wife/daughter. Parekh has longer to deal with this (and he suckered more of his friends into this scam). I vote that he get sent back to Pakistan where they know how to deal with two-bit con men.
When was the last time shares traded? Looks like no one is buying the story any more. Can anyone see level II - how deep is the bid. I am surprised holders aren't hitting the bid, while there still is one.
Hey, Shawn It's March and surprise, surprise, you've gotten zilch from Autilion. Here's some humor to keep your spirits up:
Knock, Knock.
Who's There?
Boo.
Boo who?
Why are you crying, Shawn?
I've been filing SEC statements based on worthless lies and now look like a jackass.
-------------------------
Q: How can you tell if Hillard Herzog is lying?
A: His lips are moving.
--------------------------
No joke - It is time to file whistleblower claim to SEC regarding VSTA's disclosures which omit material information -- namely that the counter party to SPA is in liquidation and its parent company has been thrown off OTC Markets by SEC investigation for making false statements.
I disagree. VSTA is a failed company, not a fraud.
It's not obvious to a layman why VSTA's stem cell tools for predicting drug interactions are getting little to no commercial interest from big pharma when in theory, as Mission repeatedly reminds us, pharma ought to benefit big time from early indications of toxicity or lack there of. The company provides zero/zip/nada info on actual customer interest, but it does have a bona fide product and IP.
One would expect VSTA sought to be reporting multiple commercial irons in the fire, some of them paying license fees. No evidence anything is happening. But VSTA timely files financial information with SEC and is current in corporate registrations, etc. It has real CEO and Board. It's investors have repeatedly stepped up to provide funds. It's a real company, just failure as a commercial business. This doesn't explain Shawn's inexplicable love affair with Herzog, but the company's disclosure has been accurate although failure to report Autilion is in liquidation is a material omission.
On the other hand, BGMO is an outright fraud with liar CEO and CFO who fail to fulfill basic governance and fiduciary obligations, fail to report anything to shareholders, filed made-up financial statements to OTC Markets, and other crimes. No surprise SEC slammed it to grey market. There is no recovery for an empty shell with liabilities and no assets at all. BGMO is a dead carcass. Glad that our efforts have effectively stopped the share trading, though I did see $12.50 trade this week.
Any connection to Mine Seeker?
http://www.bbc.co.uk/news/world-europe-26225459
The only thing MS seemed to excel at was big talk. Little to no actual achievements. Once MS took interest in dealing with conman Dean Bradley and scam QASP, it was obvious MS was worthless scam itself.
Remarkable that QASP still operates and Bradley isn't in jail, along with his buddy Canouse.
Grim 10-Q. Another quarter sans revenue. Company survives on last minute cash handouts because Platinum and others are so deep into this that they keep throwing good money after bad. Shawn funded payroll - a sign of his commitment (or that he should be committed), but unclear why anyone thinks this sinking ship is going anywhere but down. I didn't see anything in 10-Q regarding business prospects. In any event, the common shares continue to be squashed under mountain of debt and preferred, payables, etc. It's a miracle the shares still trade at these levels.
Baffling and incomplete disclosure regarding Autilion, ignoring substantial evidence that Autilion lacks the ability and willingness to fulfill the SPA. Failed to state that Autilion filed for liquidation and is run by known charlatan/liar whose company was slammed to ground by SEC. Failure to disclosure this material information is clear omission.
The only short sellers are people associated with Vancouver gang, the NY broker dealer or Herzog's friends. That's how they monetized this scam.
The charts are hard to read given dearth of activity, but when the patient is dead, a flat line is what one expects to see.
BGMO is dead.
It is folly that VSTA makes filings to SEC on the basis of verbal statements from a well known charlatan given that the signed contract with Autilion was summarily defaulted/abandoned/ignored by Autilion/BGMO pretty much from the moment it was first signed.
It costs Herzog nothing to keep making up stories that the money will arrive "in two weeks" (he has much practice at doing this) but VSTA has failed to provide any evidence why it believes such statements have any credibility, when all prior statements to VSTA and every other company BGMO has made commitments to have failed, and BGMO/Autilion provide no reliable information that they have assets to fulfill the commitment.
The warning signs and red flags about BGMO/Autilion are overwhelming. What does it take for Singh to admit the contract is worthless, and terminate it based on failure of Autilion to perform. What does it say about VSTA and Singh's other options that he keeps this one open. Is he that desperate? Apparently yes.
Platinum is stuck waist deep in the muck, but probably not ready to give up. On one hand, their loans are squashing the common, but on the other hand, the common price is the only signal there is about the company's prospects/health. Given lack of visible progress in 2013 on any front, I don't know where they go from here. Most likely, more of the same.
Continuing to mention in SEC filings that one of their initiatives is $36 million of funding from Autilion discredits everything Shawn says. CEOs and Boards are expected to apply commercially reasonable standard of diligence, which they clearly aren't doing by reporting on money expected from a murky shell company backed by an obvious scam company.
Amen. Good job.
Herzog's been pulling this stunt for years --- he promises the world to companies in need, but delivers nothing. This worked early in his career as a ladies garment salesman - promise what the customer asks for and then figure out how to deliver, which was possible for dresses and jeans from Pakistan. The problem with "saying yes" to needy start-ups is that he has no actual chance of finding an investor to fill the contract on the joke terms he offered. None. Herzog doesn't actively search for companies to pull this stunt on -- he just responds to the random inquiry. In VSTA's case, this came through the dunderheaded IR firm. Victims include GreenSafe Demanufacturing, Suntrough, BB Solar, Vistagen, Japanese mobile company and an unnamed brokerage house.
Herzog's MO is to rely on transparently fraudulent promises of immense funding on completely non-sensical terms from mystery investors. It defies the imagination that any real investor could ever select Herzog to handle money. Herzog has no record of any successful investment. He is named in many litigations and has unpaid judgments against him from prior lenders. His company is murky non-reporting tax-inefficient C-Corp which has been slammed to the ground by SEC. He is associated with known fraudsters and criminals (Robert Fowler, Vivek Sinha, Shannon Newby, Isaac Zucker, Salim C.). The purported funding sources are always unknown made-up entities offering billions on laugh-out-loud silly terms usually through phony schemes like fake SBLC, cash backed deposits, SWIFT wires, fake guarantees, etc. HH does no diligence on these deals and counter parties because that would spoil the con job. For years, it was all about issuing PRs that something was about to happen, and hoping to hide by forward-looking statement alibi. This ended in 2012 when HH issued plainly false financial statement to OTC Market claiming huge cash assets.
Everything around Herzog and his buddy Parekh reeks of failure.
I agree.
Shawn needs to wake up and realize he's dealing with a sociopathic liar. Here's a gem from 4 years ago. Not a single case exists where Herzog's enthusiastic and repeated promises of imminent funding has actually happened, nor has Herzog ever admitted he couldn't deliver - indeed he always tells people the funding is about to happen (in two weeks). He is a habitual conman who is pathologically unable to tell the truth. Shawn is not helping himself or his company by continuing to pretend a defaulted and underwater SPA has any possibility of completion.
February 05, 2010 09:19 AM Eastern Standard Time
LAS VEGAS--(BUSINESS WIRE)--Bergamo Acquisition Corp. (OTC Pink Sheets: BGMO) is addressing the many questions that have surrounded its funding agreements. First the funding agreement with Esoft Informatics Private Ltd., originally announced on January 12, 2010, has been renegotiated to the benefit of Bergamo shareholders. The terms of the funding has been changed from a loan to an equity investment. Funding of this transaction is anticipated to take place when Mr. Herzog travels to India next week to meet with Mr. Vivek Sinha, the President of Esoft Informatics Private Ltd.
In addition, the previous announcement concerning the Company’s funding through its European banking associates will now be addressed as part of Mr. Herzog’s travels which start in India and conclude in London.
It is important to note that previous announcements concerning the Pakistani Energy Projects are still valid. The Company, through Mr. Herzog, would like to positively state that all prior announcements regarding funding of the energy projects as well, as the Company's overall involvement in these energy projects, will be followed through to completion. Again, the Company, through Mr. Herzog, would like to positively state that these energy projects will be funded and completed without delay.
All of other acquisitions are still in place as well. These include GreenSafe Demanufacturing Inc., Suntrough Energy Inc., and the Mobile Software Technologies company from Japan.
As Fowler is being fried to a crisp by Feds for his scam, one wonders when will the crooks behind National Wealth International get their due?
Fowler was pretty stupid to operate so openly from US soil. NWI has invisible profile and runs its scam using Anguilla and Swiss shells. On the other hand, NWI through BGMO got involved with a US listed company, VSTA. The SEC will be questioning HH -- if they can find him. He seems to have disappeared. Maybe another weekend at Bernie's.
http://www.brokeandbroker.com/2036/bank-guarante-standby-letter-trading-platform/