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So no embezzlement of money, just company property, plans, and secrets. That is more difficult to prove, especially since Smith was CEO of SSTP and an engineer. He would have all of those in his possession to perform his daily duties. Without specific allegation on each of the 13 points, all is speculation.
You mentioned things came out in the SEC investigation. Such as?
In Early Nov. JR announced he would have 4 reactors up, running, producing fuel and making money in 8-12 weeks. That would have been about Jan. 2007. He also announced JV's with Ill. Biofuel in April, and BCEI (sp?) to produce fuel. He has one full sized reactor producing fuel, in addition to the mini test reactor. He has a JV with AGRA(sp?)to produce fuel.
So pray tell, where do you get the idea JR is not trying to sell product and make money. Tell that to all the guys that were planning on doing business with him. If not, why am I an investor in this company. I think JR would love to have sold tons of this stuff by now, but for some reason can't get it done.
As soon as he returns your call I will give him a buzz.
So we have no permit to sell product? Then how does USSE sell product to Ron, and he in turn sells it retail? Since Ron signed the nondisclosure agreement, how do we know USSE actually sold him product?
What was the whole purpose of SSTP, wasn't it to bypass this process and make energy for sale. So what purpose does SSTP currently serve? For that matter, since SSTP's sole value depends on buying wholesale, and selling retail one product, how does it have a market value greater than the company that controls the spigot?
Out of curiosity, does anyone know what Ron Con's plans are for selling fuel this winter? The current 1% blend doesn't appear to be too good in cold weather, just 3 months away.
Anything greater than our current 1% blend gets into all sorts of EPA issues.
But after the first date, and they never call you again, then what? Stay home on a Saturday night waiting for the phone to ring.
Very true. For those that think there is a difference, it won't matter in a year when the restrictions are lifted.
OD-66 is not being produced in a 5 gallon per bushel ratio. Only the 1% additive is produced in that fashion.
So how much can that 1% additive sell for and still make the gallon of OD-66 competitive?
On the other hand if this company implodes, the only court action I want is from a US Attorney. I just finished one 2 years ago where the ex CEO is doing 9 large in the big house, and he didn't pull half the BS done here.
If that isn't a motivator, I don't know what is.
Right now there is nothing to entice a firm to take on a case against USSE/SSTP on a contingency basis. A year from now, who knows?
I will be as factual as possible, too much booze on this long strange trip has affected my memory. In the weeks after Dec. 1, the share price dropped in half because of the promised split of the company, which is appropriate. Then when the actual split occurred in May, it dropped another 50%. So in essence we dropped 75%, for one split. In reality it was worse as noted in the next paragraph.
Original 675 million shares of USSE on Dec.1 was .38 pps. Post split in May, there were 1.5 million shares at app. .07 PPS. No net change in a stockholders percentage ownership in USSE, but value in hand was less. On top of that, 2 billion shares for SSTP appeared out of no where in the hands of god knows who.
Fortunately JR was looking out for us and kept 600 million shares for USSE(1/3) and gave away at least half of USSE. Since SSTP didn't bring anything to the table for compensation, why did they keep 2/3 of the stock? 10% might have been more like it. For all SSTP has done, it could have been setp up as a privately held company by USSE.
How much of SSTP does JR personally own, who knows, but I am sure he has his share. How did he get those shares, and we didn't. I am sure he paid himself a stock bonus for the stellar job he is doing. I am also sure management is paying themselves well since this is a multibillion dollar company.
We needed that split like we needed a hole in our heads.
Of course it did give us the pleasure of watching JR try to withhold split stocks from Stanton. All that will get him is the lawsuit and a lesson in futility.
Speaking of the other 4 reactors, does anyone know what state they are in? Did they ever get final assembly on any of them, or are they still sitting there collecting dust waiting for parts?
Its a good thing we have that one reactor up and running, just think where we would be without it. Its not like we really need the other 4 to fulfill our contract obligations.
NO DILUTION?? When I bought back in November, there were 675 million shares of one company. Now there are 1.5 billion and 2 billion shares between 2 companies. That is a dilution of 5 for 1 in 9 months!
Without the company owning a patent, whoever has the trade secret can jump ship and start a new company.
What do the shareholders really own in this company?
Maybe it was posted because JR wouldn't.
So far every pumped PR has failed. Not one retraction or PR by USSE has been issued to inform its shareholders of these failed partnerships. Fortunately we have the other company to inform us.
By the way, does anyone know the real status of Core/USSE?
The more biodiesel/biofuel in a gallon of petrol, the less we import and more fuel independent we become. NO argument there.
The point wechoose makes is that currently anything greater than a 5% biodiesel blend voids diesel manufacturer warranties. Even if it meets the ASTM standards.
Warranties are separate from ASTM standards. Both are also separate from EPA certification. In order to sell this retail, you will need all three components. Even with off the shelf ingredients and meeting ASTM standards, it is a new fuel and will need the EPA to sign off on it one way or another.
Of course a retailer can sell anything he wants, but than he excepts all liability for the diesel warranties and EPA. Not too many will jump onto that boat until they know for certain the certs are present.
Fortunately we spun off SSTP to generate electricity and avoid these problems anyway.
By the massive spike in stock volume and sales, I would say NOT.
You are correct.
If the company makes a go of it in the next year I suspect there will be more interest in the remedies to what transpired. No attorney would take the case today at these values. Especially if it is true that JR and others got a significant portion of SSTP by transferring assets of USSE without true compensation for its worth to the shareholders. There was definitely a little slight of hand in what took place.
In JR's prior fraud case, the judge stated that all things being equal, he ruled against JR because he was just not beleivable.
At what point does the 50% bio-diesel in OD-66 start to be our bio-fuel? When does the ethonal come from the JR Cellulosic process?
Plenty of room to expand production beyond just additive.
Any discussion on what $1.20 in earnings (as in after costs, feedstock, and taxes) per gallon means? Is that the profit from a gallon of JR Juice? Seems small if it is being sold as a $20 to $40 additive, profit margins should be higher.
Is that earnings USSE/SSTP gets from the sale of one gallon of OD-66. That seems rather large when USSE is only providing 1-2% of the contents to the gallon of fuel. That leaves a fairly small portion for the guy doing all the production in his facility, these are joint ventures after all. I would be surprised if there is a $1.20 in profit total from a gallon of OD-66. Profit for oil companies on a gallon of diesel or gas is in the range of pennies per gallon. (Our Government makes the most per gallon of gas sold, despite calling Big Oil Thieves)
Who gets That $1.20? USSE? SSTP? 90/10, 50/50?
Is there any exaggeration on this number? Is it all profit, or really just revenue. Not that I am complaining on revenue, god knows we have needed it for 9 months.
Thoughts or insider answers are genuinely welcome.
It didn't start with LFZA, you forgot CYBR and the other one, can't remember the name as the whiplash of events is giving me vertigo.
Those 600 million shares you speak of, they had better have been in USSE's hand before. Otherwise USSE received nothing for the assets they gave to SSTP. They weren't giving SSTP stock from SSTP, but from their own treasury.
How many outstanding shares are there in SSTP? What real percentage does USSE own of SSTP, not guesses but hard facts. Keep an eye on those shares to make sure they are not sold.