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No, I didn't ask for the details. Just wanted to know if things are falling into place (and soon!). I don't believe the company would have retired/cancelled all that stock, gotten to Fully Compliant on Pink Sheets restructured the authorized share max (from 50B down to 10B), unless they were preparing for the next phase (securing funding, plant, etc.). In short, I just want execution and for the company to be FOCUSED on one project. Finally, that's the case.
For what it's worth. I spoke to Mr. Molen briefly earlier today and he said that everything is on track as planned. So I guess we all have to be patient a bit longer. Frustrating to wait but Exciting to know there's some BIG things happening soon.
"We will be providing additional details about the South Georgia manufacturing plant in the next few days." This is what we have been waiting for!
This is exactly what is in the press release: It clearly states that OTC markets has changed their tier reporting on Vega Biofuels to their highest level, Pink Sheets Current Information. Even the byline includes Pink Sheets: VGPR.pk - News. There was no statement that they were or are in the same league as a Fortune 500 company reporting as current on the OTC. So the actual release was as factual as it could be.
I emailed Mr. Molen recently and he said he was focused "as a laser" to make the Georgia plant a reality and to move the company forward and soon. Personally, I thought things were not moving fast enough. But it looks like at the very least, he is getting his house in order and is focused on one project, not many (a good sign). But trying to nail the guy for bringing his paperwork and accounting current on Pink Sheets is over the top.
Press Release Source: Vega Biofuels, Inc. On Monday April 18, 2011, 8:30 am EDT
NORCROSS, Ga., April 18, 2011 /PRNewswire/ -- VEGA BIOFUELS, INC. (Pink Sheets:VGPR.pk - News) announced today that it has submitted the Company's 2010 Annual Report to OTC Markets. After review of the Annual Report and accompanying Legal Opinion, OTC Markets has changed their tier reporting on Vega Biofuels to their highest level, Pink Sheets Current Information.
I would have to agree with you that while everyone is disappointed that the execution has taken "way too long" and it's still not there yet (no plant announcement, no funding mechanism), at least the guy is trying to move things from a developmental stage to the next step. Let's see how things play out. Either he can make the company into something or not. As for trying to convey Vega as some big, Fortune 500 company that is "top tier" reporting, I didn't see any of that in the press release. Everyone knows this is a struggling company trying to go from developmental to something bigger. It's certainly a risky investment but so are all pink sheet companies.
Well guys and gals, Week 8 is just about over. Looks like it is just about time to "turn out the lights".
Looks like the Pink Sheets has brought the stock back to a Yield. Has anyone seen that? Would be nice if they got into full compliance soon as well!
You're right. It's the start of week six. No pieces of the puzzle have come together. No plant, No money, Nada. Three weeks left for something(s) to happen. If not, it never will.
...Could be 1,000,000,000 to 1. It's Week 4 (halfway through). Hope it all comes together soon.
That being said, we are into the 3rd week of the 6-8 week "Execution Cycle". The pieces of the puzzle for the Georgia plant have not yet come together. They may still, but until we see "concrete pieces/PR's", it's all still heresay. Tick...Tick..Tick...
Actually, it was my self-imposed deadline to see Molen/Vega put together the pieces of the puzzle of the Georgia plant and to finally execute a project from beginning to end vs. seeing him tout multiple "pie in the sky" projects. Like you and all past and present Vega investors, we are tired of the BS and nothing concrete happening. Time for Action is NOW!
As for his changing his business direction again, I haven't heard anything like that. He has reiterated time and again, that the Georgia plant is first and foremost on his mind every day and that he is going to see it happen.
From an investors standpoint, this is the only way that Vega can move from a developmental company to a real company with real income. With all the turmoil in the Middle East and the skyrocketing oil and energy prices, I am confident that a biomass plant makes a lot of sense right now, should produce significant income and will make Vega a real company. Anyway, that's how I see it.
I promised the company owner that I would not breach his confidentiality and that was the condition under which Molen agreed to let me contact him. I respected that and asked what I thought were the basic questions that made me feel comfortable that it was real.
Heck, we're talking a Letter of Intent. Who wouldn't want to do business and make money if a customer was willing to pay them for their work. In short, Vega now has a company who can provide the basic, biomass product. And if it wasn't this company, it would be another. At least this part is done. They still have to put the rest of the pieces of the puzzle together (e.g. plant, funding, etc.). Like I said before (6-8 weeks is my drop-dead date to see all these pieces come together). I will either be Molen's biggest nightmare or an ardent supporter.
As for proving my conversation and what I found out, I'm not getting involved in an "ihub trial". If you think I am making it all up, so be it. I'm not! But I also gave my word to not give out the company owners name or contact info. And I won't! I believe that giving "your word" has to mean something.
Sorry guys. On number 5, I meant to type "Leter of Intent".
Hey Guys, After hearing all these negative posts about the last pr, I asked Mr. Molen if I could get in contact with the Timber Group to ask some basic questions. He agreed. I was able to speak with the Biomass owner. Here is the basic info I got from my conversation.
1. The company is based in Georgia.
2. The president (who does not want his name or contact info put out on the internet), has 28 years of timber industry experience.
3. The company did a name change in 2010 to better reflect their
business.
4. There is no correlation with the New York based, The Timber Group company by the same name. A fluke occurrence as they both have the same name. Note: I had the same situation when I was doing telecommunications and found that two other companies (Chicago, Ill based and in Arizona), also had the same name. It happened that the companies were incorporated and legally filed in their separate and distinct states of business. This is not unique and does happen periodically.
5. There is no direct or indirect relationship with Vega or Molen, other than they have agreed to do business and The Timber Group has signed a Letter of Internet to provide raw biomass product to Vega when the South Georgia plant is operational and they are very optimistic that this will be a win-win for all parties.
Specifically, I was told that by providing Biomass timber-waste materials that would have to be hauled out otherwise, The Timber Group will be able to clean sites up quicker and make money in the process. That made sense, enviornmentally and financially.
6. The Timber Group's management was only knowledgeable about their roll in providing raw biomass product for the Georgia plant process and was not informed about any marketing activities, etc nor did they feel this was important to them, or something they needed to know about.
7. The Timber Group owner said there is a competitor in the area but they are not using the same product and so the competition is friendly.
8. Also, trucks will be the mode of transportation to move the timber biomass product and the Timber Group has everything in place to move the raw product to the facility Vega has chosen.
In summary, I asked a bunch of questions that I felt, proved the company was real (and not a part of the NY company with the same name) and that Vega has finally started putting the pieces together to make a fully operational biomass plant in the coming months. At least, things are moving forward. Let's just hope they pick up speed (6-8 weeks is my drop-dead window!).
Thanks for the light-hearted humor. The Board certainly could use that once in awhile. No, I'm not his mother. Just a long-term die-hard. And believe me, if Molen doesn't come through with a focused effort on the Georgia plant after all this woulda, coulda, shoulda efforts, I will be joining the ranks of "this guy can't execute". But we're not there yet. He still has 6-8 weeks to prove the Georia plant is for real. After that, even I will throw in the towel. Let's see what happens.
Yes, I am well aware of when Molen sold his Sanswire company to GTEL and the investors in his company got Globetel shares, which peaked at near $5 a share. Some investors sold at the right time and made a bunch of money. Unfortunately, I wasn't one of them, but that's irrevevant.
The guy who got caught fudging the numbers was the CEO and he was held accountable for that. Molen was a board member of Globetel for a short time and was then replaced by a friend of the CEO. Molen had no control of anything once he sold the company.
So Mr. Chew, if you are now blaming him for Sanswire, Globetel and for Global Warming, etc., then you are living in an altered universe. If you are so confident the guys a fraud, sue him and be done with it. Otherwise, take a week or two off, come to the U.S. for vacation (if you can), and let's see if Vega does something or not.
Another idea, why don't you make a "I hate Molen T-Shirt". You can probably make some of your ill-gotten consulting money back.
Mr. Chew. It seems like all you do is nail Molen all day, all night, all the time. It is BS. I invested with the guy way back when he started the company, and even invested in his Sanswire operation and lost some money because I got greedy and held on to the stock when it reached it peak and suddenly dropped. I lost $28,000. Shame on me (got several years of IRS write offs and that was that). I certainly didn't blame Molen for it everyday of my life. I moved on, got a better job and made more money.
Mr. Chew, you might think you got screwed because Molen stopped paying your meager consulting fee for helping him break the Brazilian market. Obviously, that didn't happen.
And now you want him to release any and all information on any and all persons or companies he makes contacts with or signs a deal with so you can call them and tell them Molen's a fraud, kill the deal or whatever.
If he did that, he might as well just fold up the company because you would be dictating not only his fate but the fate of every investor in the company as well. He's the President of the company, you are just an angry consultant who wants a monthly consulting fee for all the contracts and Brazilian work you brought to Molen and Vega. Oh that's right. That amounted to ZERO!
If you are so amazing, why don't you work for the FBI or the SEC. Oh yes, you have a bench warrant for your arrest when/if you entered the U.S. and the State of Georgia. So I guess all you have is your arsenal of unproven accusations and your personal viscious, vendetta to attack Molen and the company at any cost.
Like Uptick and many other investors who still believe something will come of this company, I now put the oneous of responsiblity on you. Why don't you come to the U.S., appear in Georgia court to answer the arrest warrant against you. Face the judge and Molen in person, if you are so right and he is so wrong.
In short, put up or shut up Mr. Chew aka/ Brazilian Ops. Get a life!
Mr. Chew. Your statement makes no sense. Why are you assumming (The Timber Group LLC is out of NYC and even better, Sao Paulo Brazil)? Looks like you are just googling, calling anyone who will listen, making bizarre/slanderous accusations, and then saying Molen didn't tell the truth.
We all know his development company has taken "forever" to move forward. At least the guy is making the effort and has finally gotten focused on a few, doable projects.
All you have done is attack him and his company. Your "press releases" on IHub are viscous and pathetic.
The site seems to be working fine. What should we be looking for?
A .02 cent trade ((150 shares at .0001). Now, we've seen it all!
With all due respect, I double-checked the release but didn't see anything about a consulting contract being cancelled. When any company retires company debt and reduces the outstanding shares by 50%, that's a good thing. Heck, if Vega mgt was just pumping and dumping shares, this would never have happened. Maybe they have a strategy after all.
Just saw this news release on the company website (see below). This sounds like good news. We need more!!
http://www.vegabiofuels.com/pr/justReleased.pdf
Mr. Chew. These constant attacks are all well and good. The only thing is that there is an actual court order out against you and probably an arrest warrant waiting for you for violating the court order should you ever set foot in the U.S. The court order has been posted to ihub several times and despite you saying you don't believe it, it's actually real. Several ihub posters have researched and found it.
If you are so concerned about all the terrible things that have supposedly occured and believe you have a legitimate case, come to the United States and take Mr. Molen and Vega to court.
You owe all of investors that much. In the month or more since this court order was issued, you have gone silent and have now come back to bash, slander and degrade Mr. Molen and the company every single day, sometimes a dozen times a day. Your viscioius attacks are getting old. There's a saying, "Put up or Shut Up".
Real news is what is needed here. When that happens is anyone's guess.
What the heck is going on here? JCato's honest and factual posts have been deleted for no reason and Mr. Chew's (aka Brazillian Ops) venonmous messages are allowed to stay?
Isn't IHub supposed to protect the integrity of the board by posting factual info and deleting emotional, slanderous posts. Looks like we are doing just the opposite. I think the moderator should explain to everyone why this is occurring. Very sad situation.
I took up your challenge that the actual court case can be found on the court website. Here is the url:
http://www.fcclkjudicialsearch.org/Scripts/UVlink.isa/tsgdb1/WEBSERV/PUBCivilSearch?action%253Dview%26track%253D695165
There is no dispute. The case has been filed and a court order has been issued against Mr. Chew aka Brazilian Ops. My guess is this guy will keep on spewing venom from Brazil vs. actually coming to the U.S. where the court will surely hold him legally accountable.
Based upon the fact that this case is real and active and a court order has been issued against Brazilian Ops (Mr. Chew), I cannot understand why his posts are being allowed on the site.
I agree that when people buy sub penny pinksheet stocks, they are taking a significant risk. When they make money, they often boast about it. When they lose money, it's everyone else's fault. That's how I see it. I've made money on penny stock and lost money on penny stocks. Such is life.
And besides, it's a fact that Brazil Ops (Bob Chew) has a Restraining Order issued against him and is prohibited by the Superior Court in Fulton County Georgia from posting
messages on this Board (yet he is doing just that). He is in clear violation of the Court Order and is risking a Warrant for his arrest.
He came on this board a few weeks ago and tried to draw others into his attack on the Company. The Company stood up for itself and turned the matter over to their attorney who secured the Court Order against Mr. Chew and has filed a $10M law suit against him for slander.
Do investors really Vega management would do that if they were committing fraud? Would they want that kind of scrutiny?
FYI. I got this from Pinksheets.
VGPR Security Details
Share Structure
Market Value1 $24,802,018 a/o Oct 04, 2010
Shares Outstanding 31,002,522,194 a/o Aug 02, 2010
Float 4,001,391,374 a/o Aug 18, 2010
Authorized Shares 50,000,000,000 a/o Aug 02, 2010
Par Value 0.0001
"D" is gone. Big Time Trading and/or News should be just around the corner. Trading always picks up in September. This stock should be no different.
I am confused. Everytime I have purchased stock, whether it has been with this stock, Citibank or other stocks in various exchanges, I purchased the stock from another shareholder. That shareholder got the funds based upon the share price I, as the bidder, was willing to pay.
On the other side, when I have sold stock in my Scottrade account, I made money and when I requested the funds for the profits I made, they sent me a check. None of the funds went to the company.
So what you stated, that when a bidder or seller of stock is not making money or losing money - that makes absolutely no sense. That's why there is a market - to buy and sell shares. Some investors win and some lose. There's a lot of traders in the pink sheet market who are experts in shorting and flipping shares. Unfortunately, I am not one of those experts.
We don't use (Bloody) in the U.S. Not part of our language. Which means you are obviously a foreigner, most likely Mr. Chew, Real Company, FBInestor, Brazilian Ops or whoever. I invested in the company several years ago and have made and lost money along the way. I don't defend Mr. Molen nor assasinate his charactor.
Vega has gone to court and they proved their case.
www.vegabiofuels.com/pr/shareholderUpdate.pdf
That's why we have a legal system in this country. Time to move on.
You sound just like Mr. Chew, aka BrazilOps. If you have a personal beef or vendetta against Vega or its officers, fight them in court. This board is supposed to be about real news. Everyone is sick and tired with the personal attacks. Get a life!
I agree. The Shareholder Update I saw this morning on Vega's website says a lot. The company is serious about moving forward and not putting up with these personal attacks. Good!
Ditto. I've known Mr. Molen for several years and I like others, have called him out if/when administrative things were not executed on time. But please do not make up things that are not true.
I am an investor like others, hoping that Vega will get things moving forward in the near term. We have all waited a long time and it will be nice to see more concrete and positive news soon.
Very Bizarre. A few emails earlier (#17171) Brazil aka Mr. Chew said:
"you can assume that Brazil Ops is Mr. Chew talking to the investors"
and then in (#17173), it was related...
how can you say mollen made a threat to call police,and than say he won't answer the phone? that can't be right.
From his own words, Mr. Brazilian Chew is one in the same. Not sure what is going on here (maybe the argument should be between Mr. B.C. and Mr. MM.), but a few recent facts that we should pay attention to as investors include:
1. The company did all the required regulatory filings to be approved for reorganization under FINRA regulatory guidelines.
2. The company has updated their Pink Sheet filings.
I am sure there is more things going on behind the scenes. And I for one, wish a lot of things went smoother from the beginning. But heck, this was in a developmental company stage and the company is working on raising the necessary capital to move things into an active stage.
If MM wsan't focused on making Vega a successful corporation, he would have given up a long time ago. From an investors standpoint, He personally did not benefit when he gave shares to the promoters to promote the stock properly (and those promoters failed to deliver). Believe me, I see that there has been mis-steps along the way. But heck, why don't we all take a deep breath and see what happens over the next 30 days.
Things finally seem to be going in the right direction. MM could have said we are going to be filing to reorganize and sent out another fluff pr saying we filed and then another fluff pr saying we were just approved.
Instead, he gave us a shareholder update based upon concrete steps that have been taken and facts (FINRA approval, 1/300 reverse split,etc.) Instead of woulda, coulda, shoulda, we are now getting concrete "post-completion" facts. That's how this company is going to grow.
My suggestion to MM. Keep working and let's move forward with more "concrete" news.
That's fine. But why said it will be coming out on April 2nd if that wasn't going to happen?
Looks like there is a determined focus on giving the European energy customers what the are looking for. The special torrefaction technology is the right product. Now that the focus and the customer contract is there, the next step is to gain the financial commitment to build the plant. The sooner the better!
or someone dumping 5-10 million shares to depress the stock price. Eventually that person will run out of shares and the buyers who got it at 10-20% price reduction will make out.