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Like cartoons from local newspapers.
If they believe that, then I have a bridge to sell them.
I don't think so.
Like cartoons and out-of-date web sites.
The US SEC thought they were the ones in the cartoon? This is incredible ...
Questions have been raised. Nothing has been proven. I would recommend avoiding labeling anyone until this all gets sorted out.
Management said they were working on uplisting multiple times this year (press releases, etc).
Unfortunately I do not have any direct evidence. However, the CEO and his team achieve milestones (albeit slowly at times).
Best to you.
LLEG has been the opposite of a bad investment!
Still calm as a Hindu cow here.
Yea... I am keeping on watch for an amazing buying opportunity. I believe LLEG will weather this storm.
Very true. Regardless, their reputation for the short term is tarnished, which is a shame. They have built a great name for themselves amongst the pink sheets as a company which delivers (slowly, at times).
I believe they will recover from this stronger than ever.
I suppose a bit of both.
I won't deny that the week of the 20th might be a tough one for shareholders. The next few months might be rough.
I am going to remain patient throughout this process. I have met with the management on several occasions. All of their projects have verifiable information. If I am the only one left with LLEG stock in the end, fine. I learned a great deal in these past few years and I believe that, in the long term, LLEG will endure.
LLEG has a lot of 3rd party verifiable DD. Look at the 3 year chart. This was not a P&D and the returns from this company have been great.
LLEG was in the process of uplisting before the SEC suspension. If anything, they must have a lot of the paperwork required for transparency either completed or in process.
LLEG is not going down because of this. Management is too competent and too involved to give up without one hell of a fight.
Matthew
"Based on the resumes of those in LLEG's management, I do not believe that this will turn out to be a massive conspiracy to defraud investors leading to the death of LLEG, rather cloudy communication which needs to be clarified."
Well said.
I think the fact that this has never been formally addressed could certainly be the issue and once clarified, will rectify the current issue.
That could be the reason for the suspension. Could be the ambiguity of the word "stakeholder".
LLEG trades like a non-penny, that's for sure.
Let's give them the benefit of the doubt.
Michael Bartoszek, CEO of Laidlaw Energy Group, said his company has discussed the matter with the SEC and believes it is simply a misunderstanding. He said they will be writing to the SEC promptly to address the federal agency’s concerns and hope to release that letter or make a formal public statement soon.
This will all get sorted out. LLEG is too legitimate of a company to allow this to vastly affect them, IMO.
A call to IR last week confirmed that it is still an asset, but any plans to re-commission as a Natural Gas plant are on hold while they are engaged in other, more promising projects. (New Bedford, Berlin, Susanville).
I've met 4 of those employees. I have talked to a couple others on the phone. They are employed by LLEG.
LLEG in Forest Business Network! Huge exposure!
http://www.forestbusinessnetwork.com/3694/laidlaw-energy-signs-definitive-agreement-to-acquire-california-biomass-plant/
Laidlaw Energy Signs Definitive Agreement to Acquire California Biomass Plant
Laidlaw Energy Group, Inc. (Ticker symbol “LLEG”) announced today that it has executed a final Purchase and Sales Agreement to acquire a 14 megawatt biomass-energy power plant located in Susanville, CA. LLEG will be the 100 percent equity holder.
The sellers of the Susanville plant are Renegy, Inc., an entity controlled by Robert M. Worsley, founder and former Chief Executive of SkyMall, Inc., and Nature Energies, Inc., whose ultimate parent is Hanalei Renewables, a successful French renewable energy company. Both companies will become equity holders in Laidlaw Energy and will be issued a new class of preferred shares.
Commenting on the transaction, Laidlaw Energy President & CEO Michael Bartoszek stated “We are pleased to have reached this agreement and welcome our new business partners. We look forward to working with them as we advance the Susanville project and hopefully on other potential opportunities in the future.”
Laidlaw Energy plans to refurbish the Susanville plant, a process that is expected to take approximately 12 months and cost approximately $20 million. The cost of refurbishment is expected to largely be funded via a bank loan guaranteed through a program provided by the Federal government, along with a Federal grant for which the project is expected to qualify.
Laidlaw anticipates that once the plant is operational it will generate revenues of approximately $8 – $9 million per annum. A 20 to 30 year power purchase agreement is currently being negotiated.
The final closing is expected to occur shortly once Laidlaw has received certain consents to the transfer of some agreements from the sellers to Laidlaw. This is a minor issue and is not anticipated to create any issues for the closing
About Laidlaw Energy Group
Laidlaw Energy is engaged in the development of independent power plants that generate electricity from renewable resources, with a particular emphasis on biomass power and combined heat and power projects. Laidlaw Energy’s mission is to build and manage a profitable portfolio of generation facilities through the development of new facilities and the acquisition of existing facilities, and in so doing become the leading supplier of biomass power in the United States. Laidlaw Energy is headquartered in New York, New York. For more information, please visit our website at www.LaidlawEnergy.com.
There's no doubt about it. LLEG will be trading on the pinks and will still uplist to the OTCBB, IMO. The company is preparing their financial statements for more transparency.
Before anyone says something along the lines of "every other pink says that", remember, LLEG meets milestones. Maybe not in the most timely of fashions, but it gets done!
Thanks BBFL, I'm signing off for the night as well.
Horton isn't coming back for games 4-7.
What will LLEG have to do to comply in order to prevent being listed on the greys?
Shocked. Too much verifiable DD on LLEG to even be considered as a scam, IMO.
New England is the best. Portland is a great town. I live a couple miles outside Boston now.
Chris Jensen from NHPR does not publish positive information about Laidlaw. He obviously has an agenda.
Same thing happened to me when I turned my phone on and saw that we had traded 0 shares at about 2pm.
I've never been in a company that's been halted and to be honest, I don't know much about them.
I do know of a few individuals who hold about 100 Million shares. LLEG has one of the best group of longs who post out of any pink I've seen.
Also, LLEG just began filing their financials. They were planning on uplisting to the OTCBB soon, per recent comments from management.
I've never read that. Damn. I believe LLEG was incorrectly targeted.
Shares might take a hit for the first few days after trading resumes. If this is the case, longs will be taking full advantage of it.
I found out late (Was hiking the past few days). I've followed LLEG closely since 2008. I've met the management. They even presented to my University's Energy Club.
A great group of individuals making great progress in the renewable energy business.
Something seems fishy from this statement:
"The trading suspensions result from a joint effort among several SEC regional offices, its Office of Market Intelligence and the new Microcap Fraud Working Group, which looks to detect fraud involving microcap securities. "
Sounds like a new cop on the job. Something to prove.
Time will tell, but LLEG will bounce back, IMO.
Matthew
If the SEC causes undue harm to LLEG shareholders, we will have a class action lawsuit against the US SEC on our hands.
Lol, look at this:
"The trading suspensions result from a joint effort among several SEC regional offices, its Office of Market Intelligence and the new Microcap Fraud Working Group, which looks to detect fraud involving microcap securities. "
Its like a new cop on the job. Something to prove. LLEG will bounce back from this without a hitch. Mark this post.