I did not get any enjoyment whatsoever posting these thoughts about Siam deal collapse. I was in this stock from the first week it came public, accumulated over the year, and really believed in Alex, and the potential here.
I still believe in Alex as a person, but the company is really on thin ice. I wonder if the USSE deal could be revived ?
Once I decided to accept the Siam deal as dead, I also accepted the idea that the dividend will not happen. And without the lure of a dividend, I saw no reason to hold-I sold just about all last week, and will be out today.
If news hits, I expect the price to be low enough where I can buy back in, even if I must pay a bit more.
The risks were too many for me:
ACMG out of cash: employees working from home, unpaid taxes, corporate lawyer gone, Evgeny suing for wages.
Alex's silence: inexcusable, will hurt us long term, even with news.
Patent's not on file anywhere, no matter who's name we look up. And possible patent lawsuit - especially if we start to succeed.
SEC / Ontario SEC risks: Select American issues, and possible investigation of ACMG for Siam PR's, and Alex's disappearance. Select American will absolutely put a regulatory spotlight on every aspect of ACMG, especially now - with Alex's odd behavior.
Pending due date to meet contract needs with A.M. Absolutely no way he can get a plant up now, without another extension. If A.M. deal is real, there can be no way they could keep agreeing to extensions. If they do extend again, I must wonder how real they are.
A bankruptcy filing is possible, but I expect Alex is trying hard, and we will hear nothing until after the upcoming SEA Biofuel Conference. After that, I suspect Alex may surface, and update our condition.
