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fbinvestor...It's a bit rude to call Gator "childish" for posting about his DD phone calls. HIS WILL did the same thing, yet no mention of that. Could it be you agree with one and not the other? I for one, appreciate the efforts of both men. Gator took the time to speak with Joe James of Agri_Tech, a named county commissioner, and a named official with the Carolina Alliance. His Will spoke with an unnamed city clerk. But I believe both of them. You can draw whatever conclusions you want regarding the info they got, but it might be better to simply thank them for their efforts.
Regarding your comments about plant capacity...You are correct that one torrefaction machine won't cover all of Europe's biocoal needs. Who said it would? You're missing the point completely. The point is, they will take all we can produce. 50,000 tons per year is a drop in the bucket compared to what they need to comply with EU clean air requirements. That's why we have competitors in Denmark and France. Who said we are going to stop at one machine? A 500MW power plant uses over 1.2 million tons of coal per year. A 75/25 blend with biocoal means one average-sized power plant would need 300,000 tons of biocoal. With one machine, we can't even fill the needs of one power plant. The demand is tremendous, and it's Govt. mandated. Why would we stop at one machine?
RL
Not a single word spoken about the acquisition of Gone Green? Really?? Did you listen to any of the conference call 8-3-14? Apparently not.
The warehouse on Bluff Rd. may or may not have anything to do with the biocoal plant. Agri-Tech has their own business also. The plant is being built on property owned by Collum Lumber on 15 undeveloped acres. Lease has been confirmed by Collum. Part of property has already been sub-leased to a wood pellet manufacturer. I think the permit process could move rather quickly in a small rural South Carolina town that is eager for economic development. I do agree with you that this is a long-term holding, but should improve along the way.
Gator, Thanks for keeping us updated! I'm willing to take a road trip to Allendale for pictures, etc. as this thing progresses. Your DD is much appreciated.
RL
Please send it to Allendale, South Carolina. Large bills please.
Teekobrohey, That's certainly possible. Molen has mentioned in the past, the possibility of leveraging the contract to obtain additional funds for expansion of the plant. It may be possible to do that for initial construction also, although probably more difficult. ECEM might be a possibility, as well as Governmental agencies in Europe (after all, it is their mandates that are requiring biocoal to begin with). There might be a way to leverage it here in the U.S. also. It just seems like it's a small amount, relatively speaking, yet required (if you assume it's not a scam), to allow it to keep you from construction.
Gator, Thanks for replying. As someone who went through the Georgia fiasco, I can see why your eyes are focused on Allendale. It's all that really matters...getting the plant up and running. No telling how far things could go from there. I've just been trying to assure myself that Molen has his part of the financing. I don't question the product, processes, or their ability to sell. The demand is there and should increase. Biochar is a bonus. But we have to get the plant built. Your DD seems to indicate we are on the way. Hopefully, the USDA did check out the plant's financing as a whole, including VGPR's. I agree that Joe James and Agri Tech needed Molen for the financing of the plant, and the big order didn't hurt either. I don't think James had the money to pull it off himself. They do sell torrefaction machines and the typical one sells for 5 million. They have proposed a scaled-down version for Allendale for 3.5M. If they have the money, they plan to increase the machine, or if necessary, add more later...Joe James said they have plenty of room at the site. I just hope he stays with VGPR in future plans. He holds the license and patents and has Govt. connections. When projecting future price per share, just remember how many are out there...you, as a preferred B shareholder, know better than most.
GLTY and thanks again,
RL
Gator, I know you are a long time investor in VGPR, and have some of the preferred B shares. Do you remember what price the B shares were sold at when the company did the offering? If you don't mind revealing the info. Thanks in advance.
RL
Gator, Thank you again for your DD. Much appreciated.
RL
There is competition whenever someone comes up with a good idea or product. That's actually encouraging. Imitation is the greatest form of flattery. This is where the licensing of NC state's technology and the patents are so important. ATP-SC (JV) will have a more energy efficient way of producing, requiring no additional process heat after machine is fired-up. Competitive advantages such as patent protection and Govt. contracts and connections will give the JV competitive advantages. I have no concerns with the products or ability to sell, I'm only worried about the financing and our fearless leader.
Knowing that government bureaucrats did their DD gives me great confidence.... Also, that money will come with strings attached as to how it can be spent. They won't be able to spend it all on construction. It involves soil remediation, planting crops, etc.
So you are saying that VGPR's portion of the funding is secured. I'll sleep better tonight. I just wonder how they pulled that off. The plant will have to cost at least 5M if not more. VGPR will need half of that or more (no one knows the details), to complete. Molen had Zero cash when this process started, and has lost money each month since. In fact VGPR was on the verge of reverse split and name change (again) when process started. The PPM at last report had raised $380,000. Molen says no dilution, but even if he had sold all remaining shares authorized, it doesn't come close to the amount required. Where did the $2.5-5 Million come from?
Bingo GAT. Agri Tech Producers got the grant, not VGPR. I'm sure Joe James and Agri-Tech have all their ducks in a row, but did the USDA investigate VGPR's portion of the financing of the project? No mention of that if they did. Also, the grant involves specific things that the funds have to be spent on, such as soil remediation and such, I don't believe it can all be spent on construction. If the plant gets built, it will be helpful and it is impressive that Agri-Tech got the grant, but the plant has to get built. Could the CC postponement be an attempt by VGPR to buy time to get $$$ ?
Hoggydog, I believe the info you got regarding how the PP's are affected in the event of a R/S is incorrect. From everything I have seen and heard, the C shares (PPM) and the preferred B's are immune to R/S's. The common shares take the beating in the event of a R/S. I have no idea if one is on the way or not, but that's how it is set up. I'm sure someone will correct me if I'm wrong.
Has anyone been able to confirm with Pot Stock Radio, the "platform normally used" for conference calls, that they did in fact have a problem or conflict and weren't able to host the show?
Which basically means they are immune to a reverse split, correct?
So now Joe James is a con artist too? Wow.
Taemujin, Congratulations on breaking the news a day before anyone else! Thank you for your DD. By the way, please put out an Amber Alert. Hoggydog is missing. Wait a minute....no one cares.
RL
Good point Loyal, if this is all legit, the JV would have a relationship with the power companies in Europe, and they have the same problems with toxic coal ash ponds, and the JV has a way to assist them in cleaning them up. For the folks saying they have no timber, well, they don't have the numbers we do, but they still have timber and lumber yards, and the toxic clean-up uses plant bio-waste, not wood, and last time I checked, they do have plants growing in Europe. All is dependent on Allendale getting built of course.
T, not to argue the point, but "is putting up" is not past tense. But I think it is really important that Joe James replied in a positive manner and is very optimistic that the plant will get built. He's not a fool. I'm not basing my decision to hold the stock on Michael Molen, I am basing it on the continued involvement of Joe James. Thanks again Gator.
RL
FB, That's why my eyes are focused on Allendale. If the plant gets built, then Molen is contributing serious money and trying to build a business, if it doesn't get built, then I agree it's Georgia all over again. Beware of "delays" also. I'm already long the stock, so I'm going to wait and see.
Thanks, Gator! Huge that Joe James is still involved and positive. One cautionary note however. ATP is "ready to match funds with Vega". What if Molen doesn't have the funds? I have an uneasy feeling he doesn't. I think the PPM is a last ditch, desperate attempt to get enough funds to complete plant. And that's a tough sell now with the share price where it is.
Hoping for the best, and thanks again for your DD.
RL
Note conversion Whale?...Do you have a source for that information?
Molen has repeatedly said authorized count is 2 billion. While that may be technically true, if there are 16 billion convertible "B" shares that haven't been converted to common yet, but can be, either now or in the near future, he knew it and that is deceptive. Go back to the Pink Panther example. The guy was asked if his dog would bite. He answered "No", but knew full well the guy was asking the wrong question, and knew what would happen. Molen was asked "How many authorized shares"? He answered the question, "2 Billion", knowing full well it was the wrong question, and didn't mention the fact that 16 billion more are gonna bite.
Hope I'm wrong,
RL
Thank you Freewolf
If there are 18 Billion shares floating around (actual and convertible), that is an understatement. Even if they don't all come to market at once, they will eventually have to be accounted for. Maybe Insidious hit upon it regarding why it is incorporated in Wyoming and the financials say 50 billion authorized, and is never changed.
Do debentures = Preferred B shares? Any time restrictions on them if so?
RL
Freewolf, Can you clue us in about debentures? That's a new one to me. Thanks in advance.
RL
Gator, Thanks for responding. If the Preferred B shares convert @ ten thousand to one, that means when fully converted they amount to another 16+ BILLION shares of common in the outstanding count. People here freak out about whether it is 1.5B or 2.0B.....that pales in comparison to what B shares could do to price per share. Are there any details I'm missing about the "B"'s ?? That was my main concern when the financials came out. Thanks for any insights you may provide.
RL
Freewolf...good to know, cause there are a lot of them. Apparently they won't hit the market?
Gator38...Thanks very much for your DD. Did either person you spoke with know if it was ATP-SC that was under construction? In the C Call, Joe James mentioned that ATP-SC had sub-leased some of the 15 acres to a wood pellet maker, in order to reduce our expenses. Just wondering which business is under construction. Either way, the land is obviously leased. Thanks again Gator!
Not selling Taemujin. In fact, I recently added. I am patiently waiting for 2015. I would hate to sell at this level and then see it explode in a few short months. The small reward of selling now just isn't worth the risk of missing out in my opinion. If I'm wrong, I didn't lose that much, if right there is huge upside. I understand the concerns of some, but IMO it's worth the risk. To each their own.
GL VGPR longs
Michael Molen isn't going to be removed as CEO by James and Gaspard. They couldn't even if they wanted to, and I doubt they want to. They don't have the shareholder votes or seats on the board of directors. Molen brings to Gaspard a potential windfall of sales and an infusion of cash to expand production. Molen brings to James half of the financing to build the Allendale plant. If James could do it himself, don't you think he would? There is nothing wrong with the team assembled. I agree with Insidious that many supporters of the company have bailed because of concerns over the share structure, both common and preferred. Restricted shares eventually hit the market, preferred shares eventually get converted to common. How many are there? When the PPM conversion is done in two years, if sold out, it adds a billion shares of common stock. The authorized count has to be increased or R/S or something. Hopefully the value of the company is increased sufficiently to offset. They say you must know what you own....but you also need to know how much you actually own. It could be less than you think. This has concerned some here. If you lose some of your support, and if short sellers are hammering the stock, well, you see the result.
Question for the board....Is there any way "restricted shares" can be sold by the holder or by a third party? Just wondered if any of those could be showing up. Volume has been rather high, there seems to be selling pressure, or more supply than demand. If the company isn't doing it, and I choose to believe they aren't, then it seems it has to be weak hands folding or somehow other shares are
reaching the market. Thoughts anyone?
One other thought, when the PPM was announced, the share price was around .0040 or so. If a person had 10M shares, and believed in the Company long term, he could sell his 10M at that price and it would convert into 40M shares in two yrs. If enough folks did that, the $380,000 raised so far could have brought 100 to 150 million shares to the market for sale.
Just trying to figure out the selling pressure. I thought the news release was the best one the company has had since early spring, when the joint venture with Agri-tech was announced. Upcoming CC was icing on the cake.
GLT VGPR longs
Freewolf, I'll take that scenario any time. For those who have been loading at these levels, that's a 500% increase in the next three months. Hard to find that anywhere else. Good luck to you.
Balamidas, In that May 15 press release, Mr. Molen was quoted, "We will have details regarding the acquisition in the next few days". Were any details of the acquisition of the South American export company ever released? This isn't intended as a flame post, just wondering if I missed it. Perhaps they are holding the news for some reason.
Mansion, your post says a lot actually. You guessed that the next news release was going to be about the status of the PPM and the groundbreaking date for Allendale (and therefore it's funding). That's what a lot of us were hoping for or expecting. Instead, we get another somewhat bizarre "news" release about a new torrefaction process. Michael Molen could certainly help the company and it's shareholders by improving the communication with his fellow owners (us). I don't think we would be at .002 if people knew that Allendale funding was ready and waiting, knew the groundbreaking date, etc. Then on the C Call, he states that PPM $ will be at least partially used to meet obligations with JV partner. Does that mean the plant isn't yet funded? Does it all depend on the success of the PPM? If the price/share gets so low that the PPM is a bad investment, does the plant still get built? When Michael leaves questions unanswered, he is just handing gasoline to the flamethrowers on here who are yelling SCAM. And it scares some strong hands out of the stock. He needs to issue a quality press release, that answers the basic and most important questions. I'm hopeful that he will get it, and I remain long VGPR. I know of no other stock of this type that has this kind of potential and so many possible revenue streams. But we deserve to be fully informed as we get from here to there.
I was thinking the same thing Jaxon. It wouldn't be bad news at all to be shut out. That would be great news for all of us.
Thanks TP. I'll send an email to see why I didn't get it.
The PPM was announced 7/18/14. Has anyone received anything besides the non-disclosure agreement yet?