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Molen just had his lawyer contact mr. Chew by email threatening to sue him for his postings on this site. Molen is also stating that mr. Chew's consulting contract is still in effect when he breached the contract and now Mr. Chew wants no business relationship with Vega. The consulting contract with Vega has been cancelledby Mr. Chew and will not be honored by Mr. Chew. vega posted PR releases using mr. Chew's name without his approval. Molen used mr. chew's name to deceave the investors.
I hope that the SEC is reading what FBINVESTOR wrote. It is factual and right on the mark. LET THE SEC INVESTIGATE MOLEN AND GIVE A NICE PRISION CELL TO HIM. MOLEN NEEDS PRISION TIME TO REFLECT ON HIS ERRORS
More lying by Molen & Not able to sue Mr. Chew: Sounds like the typical lie from Molen. never any facts that can tie him down to a lie. A specific site is needed to be known to both the local community and to the investors. If you had a site and had real plans to build an industrial facility, you will need to file an environemental impact study and a request for permits for air pollution. This makes the site very public. Hence, you can assume that there is no lease since Molen cannot prove it. Another fake project similar to Green Valley.
Molen has been unable to file a lawsuit against Robert Chew for his postings since he cannot prove that Mr. Chew is wrong.No decent lawyer will take up the lawsuit. I view Molen as making threats to try to bully the honest people. However, he has no ability to silence mr. Chew. Mr. Chew will continue posting until the SEC takes action against Molen.
To sell biomass to Europe, you need to meet tough specs. What is the product that we are selling? Without a plant manager on board who understands biomass plant operations, you cannot close a biomass supply contract in Europe with a credible offtaker. The announcement to a serious industry player means nothing but to an invetsor who does not understand the industry, Molen is implying that Vega has a customer and all we need to do is build the plant and make money. This is deceptive.
Fraud is when you announce a 5 MW power plant with no technical proof to support such a claim. No respectable power company does this. This is proof of PUMP and DUMP. VEGA has no real busy other than hyping a boiler room stock operation. I hope that the investors get their money back
Provide the proof since no money and no contracts mean no project. The agreement with a german group was nothing more than a LOI stating that if the plant had production, they would buy the fuel if it MET TECH SPECS! This means nothing in the industry
If you look at the Vega website look at green valley. It gives an invetsor the impression that the site has good gas for a viable power plant. This is deception therefore fraud
I bet Molen was sitting at Starbucks drinking coffee when you responded to you. he does not appear to have an office.
Molen needs to prove that the gas flow test that he is alledging was done after he told me via Skype message that he did not do the tests because he did not want to spend $5000 is ludicrous. Just another proof of his lying. Molen is not CEO material for a public company even though the firm has no projects and no employees and no cash on its books because the cash disappeared. Only Molen knows where the cash went!
I do not know. I do not know the old directors. Molen refused to tell me when I asked him last week
Due to the recession in the US, Molen offered to finance my firm in Brazil. I looked on the internet regarding Green valley which appeared real at the time. After 2 months into the contract, I finally was able to travel to Green valley where I determined that the project made no sense. I was then told that the Brazil business would be accelerated. I went to Brazil where I found another capital source for the power business. When Molen delayed and did not provide any capital and then started to avoid my calls, I knew that things were no right. If I was the only operation for Vega, why was it so difficult to communicate with the Chairman? I looked for days on the internet searching for information on Molen which supported my conclusions.
I do not know. I have never been involved with the SEC until now. I only got involved since I realized that Molen was a fraud. The first sign was the difficulty that I had in trying to discuss business with him. For 2 months I called everyday from Brazil trying to discuss the status of the power projects that I closed which I have since taken toa another group to finance and the schedule of capitalization. He never called me back. When he did not pay me for July, I started to look at his background which led me to conclude that the pattern of issuing press releases with no detail of pending projects only to find out that the press releases were false, in particular for Brazil where I am located and for China in addition to Green Valley, it became apparent that he was commiting securities fraud. yesterday on Skype, Molen confessed to me that the gas flow tests were never done since he concluded that the gas flow did not support a power plant. Instead of releasing a press release that the project was cancelled due to no gas flow, Molen announce that the Green valley project has been put on the back burner, leaving open that it was viable, but he now had newer and better projects to develop. To me, this is fraud since he was not telling his invetsors the truth
The SEC will punish Molen in Federal court and probably give him prision time plus fines. If the invetsors want to recover at least their principal, they will need to file a claim in court. If there are more than a couple of investors with losses, the investors could hire 1 lawyer to represent them and sue for their losses.
Mr. Chew will help the SEC or any investor interprete the facts. Since mr. Chew is not an investor and suffered no financial loss, he cannot take the initiative in to hire a lawyer and sue. You need to let the SEC do their job and find a lawyer who is willing to do a class action law suite against Molen/Vega. Hopefully the lawyer would do this probono with a payoff based on money recovered. Mr. Chew posted his email address to be contacted.
After I talked to Molen, he hung up and I tried to call back 15 times. he will not answer the phone
Molen just threatened to call the police if I call him again. he does not answer the phone. Another investor using Skype should call Molen and ask him to respond to the invetsors. I posted his cell phone earlier today.
Securities fraud is when the head of the company produces PR statements and releases financials that do not reflect the true situation of the company in order to promote a stock. Molen has and is doing this. There is no proof even on the projects that Mr. Chew was hired to work on are real and merit a press release as projects that will produce revenues for Vega. Since Mr. Chew does not fear a lawsuit from Molen since Molen has no case and probably needs to hire lawyers to defend himself, you can assume that Brazil Ops is Mr. Chew talking to the investors in order to prevent good money being invested in Vega Biofuels until both the PR releases and financial statements are truthful and transparent. No private placement of Vega stock should be done until Molen meets some standard of transparency. As of now, Molen can release some PR on a fake project and then not be held accountable. HE IS COMMITING SECURITIES FRAUD.
How is providing true facts harmful to the interests of the investors? False PR announcements and fake financials do not help the invetsors make informed decisions. Usually the party doing this is trying to hide a crime which is SECURITIES FRAUD. MOLEN HAS STATES MORE FALSE STATEMENTS THAN SKILLING WHO WAS THE CEO FOR ENRON AND IS SERVING 25 Years in a Federal Prission
Molen personally told Mr. Chew that no meeting or conference call with investors will be done. All communication must go through Molen's lawyer. WHO IS MOLEN's LAWYER? When Molen threatened mr. Chew with lawsuits, Mr. Chew was given Doug Baum at 770-979-9369 to call. Mr. Chew called his office this morning and it appears that Doug Baum is not the write lawyer. I could be wrong. When a Chairman puts a lawyer between him and the marketplace, this is another sign of Securities fraud.
Carlstock is Molen. Molen when he talks by email to Mr. Chew has the same style of expression. Carlstock is a fake person to manipulate investors. Good work Molen. JUST ANSWER THE QUESTIONS WITH FACTS that are believable. Regarding Brazil, no Brazilian company would want to do business with vega. Vega has nothing to bring to a business that is worth money
My name is Brazil Ops not Brazilnut. You should be removed from the board for adding no value to the knowledge base of the investors. Please ask Molen to post his attorney's name.
This sounds like another PR statement. WHERE IS THE PROOF THAT LAND IS LEASED FOR A BIOMASS PLANT? PLEASE PROVIDE PROOF. PROVE THAT THE SITE CAN BE PERMITED FOR AN INDUSTRIAL FACILITY. NEED SPECIFICS. PLEASE HAVE THE GROUP IN BRAZIL ANNOUNCE THAT THEY ARE MEETING WITH VEGA
I appologize. English is my second language. My first language is Portuguese. Does the Gatsby know any other languages? Would you buy the shares of Vega?
mr. Chew will not sue Molen since I have no economic loss to justify the cost of a lawyer. I hope that the SEC brings justice to Molen and gives some peace to the investors who invested money in this ponzi scheme.
Mr. Chew just talked to Molen on his cell Phone. Molen refuses to have a conference call with his invetsors and has stated that all contact from invetsors must go through his attorney. I am waiting for Molen to announce his attorney in fact so that the information can be posted on this Board. mr. Molen only talked to Mr. Chew briefly before cursing him and hanging up/
I agree. It just that there seems to be investors who want to give Molen the benefit of the doubt. Some people are slower in processing bad news and perhaps need some more guidance in realizing that they did not buy with their hard earned money the product that they believed was sold to them. I just listened to the live interview that Molen gave in December 2009 which mentioned Mr. Chew and all of Vega's projects. Just that interview, you can prove fraud. Molen stated things that the company was not really doing such as being into its sales channel with seasoned executives running the firm. Molen lied about the role of Mr. Knauff and his vast experience in the power business. The SEC will love his interview. This is proof of securities fraud
Molen's email addresses and suggest Conference call: mr. Molen's email addresses are the following: investorpros@gmail.com znd michael@mkmolen.com. Mr Chew sent an email to Molen this morning suggesting that Molen setup a conference call where all invetsors can call in and participate. Mr. Molen can answer questions and then email to the invetsors documents to substantiate his claims. For example what is a $500,000 license? Molen could scan the license purchase agreeement and email the document to all investors. Perhaps Molen could prove that he owns the Green Valley site although there is barely enough gas to power a kitchen stove. Where is the agreement for Biomass of the Americas Ltd. Mr. Molen could email the agreement with Mr. Chew. Mr. Chew through me authorizes the sharing of the consulting agreeement. Where is the agreement for the biomass site in GA for the first large scale biocoal plant in the UNited States? Is there enough water at the site and can one permit such a plant?
Molen's Phone Number 678-772-9847 and Skype name: Molen Mr. Chew left a message on Molen's cell phone asking him to answer the invetsor's questions. I am hoping that Molen will tell the truth. Mr. Chew talked to Mr. Knauff yesterday. mr. Knauff told him that Molen borrowed his name to be an officer of the company to meet some legal requirement. mr. Knauff stated that he never recieved any compensation from the company. Also, there is no writen contract allowing Molen to use him as an officer of Vega Biofuels. Mr. Knauff'snumber is on his website listed as Tennessee Power Company which is a compant that owns no power plants.
The last postings were not done by Brazilops. Perhaps inforthelonghaul should offer to buyout the investors who want out. People who believe in Vega should present real facts as to why the company has an economic future with no management team and credible parties as JV partners in any of the projects announced over the past 2 years.
Robert Chew works alongside me in the same office in Sao Paulo. We have built 2 companies together in Brazil. The pictures on the website are projects built by Robert Chew with Thermoluz as an operating partner. Our company is bigger than Vega's. Since Molen has threatened to sue Mr. Chew for any comments on his company which appears to be going nowhere except enriching some stock speculators, I have taken upon myself to speak on behalf of Mr. Chew. Mr. Chew has openly provided his email address so that serious investors can contact him. He wants to stop the fraud. He was raised believing that bad people win if the good people do not have the courage to fight for what is right. The investors should go after Molen's personal assets using a good law firm. Since we are busy installing 2 power plants to grow our business, I will not spend too much time trying to educate Vega's invetsors. It is now up to the investors to protect their money. I and mr. chew will check this forum once a day and respond as necessary until the investors fix the problem at Vega. The invetsors own Vega.
What managment team? there is no managment team. There is only Mike Molen promoting his stock with nothing behind it. Where did $2.4 million go? Chances are it wasn't invested in any other the "real" projects Molen is promoting!
What happened to the $2.4 million invested in VEga? Did go to salaries, buying land or something to creat value? The $500,000 for a license? Who sold the license and what is it? MOLEN NEEDS TO COME CLEAN. I HOPE THE THE FSEC INVESTIGATES AND WILL CONSIDER THE INVESTORS WHO WERE DUPED OUT OF THEIR MONEY!
CARLSTOCK SHOULD BUY MORE STOCKPlease do the invetsors who want out a favor. Post a bid for their stock so that they can exit the investment. you can then speculate on the company that you have high hopes for
Other than stating the monthly fee that is a cost that the invetsors are paying since this reduces the amount of cash to pay dividends; hence it is right for investors to know, Mr. Chew has not divulged any of the clauses. Mr. Chew is willing to post the contract online if Molen states that he can post the contract. It is always better to be transparent. If Mr. Chew has acontract with Vega and is a cost to vega, why aren't the costs showing up in the financial statements of the company? This is just one small proof of financial fraud.
Proof that the GA Plant does not exist: If the Ga plant for biomass was to be built within the next 2 years there would be at least an application available online from the GA Environmental Agency www.airpermit.dnr.state.ga.us . With no permit filed and no engineering done on this proposed biocoal plant in GA, Vega is at least 2 years away from having a plant built. Molen nneds to show the contract for the site if it exists and produce the names of engineering firms that support the technical viability of a biocoal plant in Tifton, GA. Chances are the GA plant is just an illusion of Molen to cheat the investors.
Thermoluz is not BrasEsco. BrasEsco was going to be a subsidiary of Vega. When vega made no effort to legally establish the company, ThermoLuz got the business. The contract between mr. Chew and vega is considered confidential. basically is was a 12-month contract for $2,500 per month to help Vega develop real projects and new business. The first project was green valley which turned to after one 4-hour visit to the site to appear to be not economically viable and not worth developing. After moving back to Brazil, Vega wanted to develop a power business in Brazil since it would create cash flow quickly. However, Vega provided no resources to start the operations in Brazil other than a $2,500 per month payment that doesn't even cover travel expenses. The contract was signed on November 2009. The contract was cancelled by Mr. Chew due to his believe that Mr. Molen is commiting securities fraud and has no intention of ever hiring talented executives in addition to raising capital to fund projects. How can vega raise capital if a serious investor would look at their books and status of their projects. Above all, what value does Mike MOlen bring to a operation? Zero is the answer
Molen threatens to sue Robert chew and me, a Brazilian for trying to inform the investors what is going on. I have only used public information derived from what mr. Molen has posted in either PR announcements or in Vega's financials. It is clear that MOLEN IS COMMITING SECURITIES FRAUD AND MUST BE STOPPED BY THE SEC
Carlstock is probably Molen. Molen tracks the boards. Molen's cell number is 678-772-9847. being the Chairman of the company, he should welcome investors who invested real money into the company by buying stock
The Intrinsic value of Vega stock is $0. If you look at the false financial statements for 2009 and 2010 there are no real assets on the books. There are no cash balances and no fixed assets. There is a ficticious license fee of $500,000; for what?. If you assume that the licesnse fee has nothing to do with creating future economic value for Vega Biofuels, the current value of Vega stock is ZERO DOLLARS since there are no assets that can create value. Perhaps Molen could start an import and export operation for biofuels. This would require at least some cash on the balance sheet. He has $0 cash for a company developing business.
Molen is refusing to release a PR statement that Robert Chew canceled his consulting contract and that the energy service company business line will not happen. This is hiding a material fact from investors which could serious impact future projections of revenues; assuming that Molen ever attempted to predict revenues.