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You really didn't answer my question. You posted repeatedly on this board that LLEG had a long term management contract for the operation of the Berlin plant and you were 100% wrong. How do you feel about being duped by LLEG?
I'm sorry but I don't have that information.
There is a statement in the Berlin Daily Sun today that clearly indicates that LLEG is no longer involved. This confirms what I've been hearing (from multiple sources) from around town. I'm glad to finally be vindicated. I've been saying that on this board for a long time.
You still didn't comment on my question. I'd love to hear how you feel about being duped regarding the "long term management contract" for the Berlin operation.
I find your response interesting. You have always claimed that LLEG has a long term management contract for operation of the Berlin plant. Thus, the Berlin plant was a source of long term revenue for LLEG and its shareholders. You based this claim on the fact that Mr. Bartoszek made statements indicating that this was the case. Now we have representatives of the current owners of the Belin facility saying that is simply not true and LLEG is no longer part of the project. That, in my opinion, is clear proof of a misrepresntation by LLEG to its shareholders. Does this bother you in any way? That being the case, one could argue that the SEC's decision was completely justified.
Honestly, I think you are being overly optomistic. I believe LLEG has been paid and is no longer involved in the project.
Once again I think you've hit the nail on the head. If what I'm saying is true then those statements by LLEG were false and this may be the reason the SEC took their action against LLEG. Again, investors can only hope that this action will force LLEG to reveal their hand and end the guess work by the people who own LLEG shares. I still honestly believe (and I may be wrong) that LLEG is no longer part of the Berlin plant any longer (short or long term).
Hey, I may be wrong. As you said, hopefully the SEC will force LLEG to clarify their current interest/involvement in the Berlin project.
I feel like I'm beating a dead horse here but my understanding is that LLEG has already received everything they are going to receive for their involvement in the Berlin plant and they are no longer involved in the proejct and will not be involved going forward. Again, I suggest that you do some research on Cate Street Capital.
Rumor around Berlin is approximately $2M. I have no idea how accurate the rumor actaully is so take that with a grain of salt.
Dude, how come you don't believe me? I'm pretty sure LLEG owns 0% of the Berlin plant and I'm pretty sure that they don't have any long term management contract for plant operation. My understanding is that they are no loner involved in the project.
Yikes! Okay, then I'd like to take back my last statement. This is quite serious.
Okay, thanks for the education. Do you know how long it typically takes for the stock to be moved back up to the Pinks?
I may be wrong but from what I hear there is no long term managerial contract for LLEG at the Berlin plant. I repeat, my understanding is that LLEG no longer has anything to do with the project. This may be part of the reason that the SEC is cracking down on LLEG (IMHO).
How do you know for sure that the stock will be trading on the Greys after 6/17? Why can't it just be traded (once again) on the Pinks? Thanks for the PM but I cannot reply due to my membership status.
Sorry man. I had incorrectly assumed that the charges by the SEC were much more serious. I was wrong.
Matt was correct! Trading will resume on 6/20. I'll give him credit on this one.......Brungy.
LLEG currently has 0% ownership interest in the Berlin plant. Do some research on Cate Street Capital.
You may be right and you may be wrong. The fact of the matter remains that nobody really knows.
I don't claim to know exactly what happened here but my gut instinct tells me that this is not good news for LLEG shareholders. I sincerely hope that I am wrong because it truly is unfortunate if people got scammed by Barty.
Of course he is going to say that. What else can he say. Sure, just like Weiner didn't tweet that photo of himself in his skivies. Deny, deny, deny. That doesn't mean it is the truth.
Agreed, but Matt was way off on his prediction. And, others on this board were wrong to assume that Laidlaw was and is still involved. They are out of the Berlin picture, period.
Matt, I told you that Laidlaw is no longer involved in the Berlin plant. I guess you were wrong about the $60M payday you expected from Laidlaw's sale of its interest in the plant. Bummer dude.
And all this time I thought you had me on "ignore". I hope you are correct for the investors sake.
For a man of logic such as yourself I have trouble understanding your complete faith in LLEG, especially after this news.
No thanks. I don't have the stomach for pennies.
Actually, I'm now okay with the plant. I think the PUC did a great job reducing the value of the PPA to something more reasonble for the NH electric ratepayers. The system worked and it was a win, win situation. On ther other hand, I'm just not sure that LLEG has anything to do with Berlin any longer. If LLEG has a long term management agreement with Cate Street Capital that this is certainly a good thing for investors in LLEG stock.
Good point. Are you 100% sure that Laidlaw will be providing managment services during operation?
You still following Berlin? I'm just wondering what your interest is in the plant with respect to your LLEG investment. Rumor has it that LLEG is no longer part of the Berlin picture. Do some research on Cate Street Capital.
Rumor around Berlin is that Laidlaw has sold their interest in the Berlin plant to Cate Street. Again, I've only heard this through the grapevine and have no idea if this is in fact the truth. Most of what you hear on the streets is just rumor and speculation anyhow. I just wanted to let you know what I've heard locally. Also, conventional wisdom around town is that this plant will eventually get final approval from the regulatory agencies (with construction starting shortly thereafter). There already appears to be a small amount of prep work occuring on the site. I have to hand it to Laidlaw. Even if they sold their equity interest they were certainly the catalyst for making this plant happen.
So you think asking electric ratepayers in the State of NH to fund $600 Million in net profits for Berlin Station is good for the overall economy of NH? Like I said, common sense aint so common anymore.
PPA that results in $600 Million net profit for Berlin Station with that heavy burden being carried by PSNH customers who already pay the highest electric rates in the nation. That is why approval is being held up. As my grandfather used to say, "common sense ain't so common anymore."
Translation;
1.) Revenue = Sale of Berlin Station (Matt was wrong about a $60 Million payday). Bye, bye to LLEG's only real asset of value.
2.) Assets = Ellicotteville, NY plant (never going to open, never going to be sold, dead in the water)
3.) Filing - boy Barty has been talking about this for a long time.
4.) California - another snow job?
I love posting here. Did you miss me?
As they say in the North Country, "It's hard telling not knowing".
I know, I'm a slow learner. Matt, on the other hand, clearly knows his Schyte.
Dude, do you realize that if you bought $1,000 worth of shares at a PPS of $0.0003 you'd now have over $17,000. I know you bought in heavy at that level. You are a genius.
Are you sure?
Even the Mayor admitted in the NPR interview that he cannot verify the $1.5M figure.