It would be a big deal if it actually meant something.
The stock is at .02 cents with an average daily vol of 8600 dollars, there is no way on earth those share promised could be handled on the open market.
So they are forgiving something that could never be paid.
The company has 0.00 dollars on the books had has amassed 1.2 million dollars in debt since clearing its debt last year
They are changing the board of directors?
You mean they are going to get rid of Phyllis Rouse, a school principle from rural Florida? The same Phyllis Rouse that has made almost 700,000 dollars over the last 5 years? 700,000 dollars and she has no back ground in anything related to mechanics or science. She is a full time school administrator, and from the 10k from 3/28/07 Phyllis received 97,987.00 dollars in compensation for three months doing what?
The balance sheet
Interest expense for the last 3 months was 168k. reread that
Interest expense for the last 6 months was 261k
This is absolutely absurd from any angle, and looks like a bigger financial scam than ever before.
They have no salable products, no cash yet someone keeps loaning them money at 20% in a zero interest rate environment?
net loss for the last 3 months is......... 350k
net interest expense last 3 months is 168k
48% of the entire loss was on interest payments alone
1866.66 dollars a day goes to interest
what was the other 182k dollars spent on, as they are not working on the engine or the HPBS?
So they are going to spend 1.8 million dollars on a technology that isn't proven? Anyone want to take my bet that they will fail, but it will take 2 or more years for the story to play out ? But of that 1.8 million how much will get kicked back to Rouse?
As for the DCTG
"The Company has begun discussions with Alpha Engines, Inc to negotiate both a reduction of the accrued royalty payments and future financial considerations related to the Company's exclusive licensing agreement with Alpha Engines, Inc. for the Detonation Cycle Gas Turbine (DCGT) engine. Additionally, the Company has begun early stage discussions with a North American based entity to re-initiate research and development of the DCGT engine technology.
Alpha is Scraggs, Rouse's old partner. The way it reads you would think these are two real corporations. They are not.
"If the Company can successfully demonstrate a highway truck engine using the technology, the Company intends to form a joint venture with a major heavy duty highway truck manufacturer to manufacture, market, and sell turbine truck engines for use in heavy duty highway trucks throughout the United States."
Par the last filling the engine only puts out an estimated 70 hp. Can we stop pretending yet?
8 years publicly traded and the story hasn't changed
Company 236 is getting rich at 20% what do you think Rouse's cut is 3-5%?
This company exists for the sole purpose of generating a paycheck. There are no products only fanciful stories/PR's to dup investors. Penny letters pump the stock so stock holders can sell at will. 236, Rouse, and the penny letters are all in on getting payed.
