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Friday, August 10, 2007 8:26:53 PM
I don't exactly know if USSE has a board of directors. I'm guessing Mr. Rivera runs everything. If there is a board, I doubt it's independent.
The additive is more hypothetical for me since I don't believe Mr. Rivera's primary concern is in creating a product. However, regarding the process being as good as advertised, for the additive, Mr. Rivera hasn't said anything about how good the additive is. He previously 'suggested' in a press release that normally e-diesel doesn't have more than 15% ethanol because of miscibility issues but that was misleading. The 15% limit appears predominantly due to a drop off in efficiency. In fact, unless e-diesel gets too cold or if there's water contamination, ethanol and diesel mix well without any additive whatsoever (although normally an additive is added).
I'll take USSE's word for it that pyrolysis oil allows better mixing of ethanol and diesel but USSE doesn't give any indication if it's any better than the additives currently in use for e-diesel.
I completely agree with you on SSTP's valuation. SSTP's value stems from Mr. Rivera's original statement that SSTP would handle all power sales and that focus now seems dead. Mr. Rivera still pushes SSTP stock in his PR's without really disclosing any purpose, though--SSTP's actual role is extremely nebulous. That, coupled with SSTP's incredible valuation by shareholders, is what makes this whole situation fascinating.
However, Mr. Rivera holds the reins on everything. If you believe in USSE's value and Mr. Rivera's oil does take off, Mr. Rivera could easily shift all profits either to USSE or to SSTP--or to any new entity he conjures up if he wanted. It surprises me a bit that shareholders who believe in the value of the Rivera Process aren't pissed off at SSTP being created to share the profits of any value to be created.
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