New information to share:
For those of you that recall the press release back in April where GFET announced a Letter of Intent to purchase an Ethanol Plant from SMS Environmental and move it to an undisclosed location in Central America, there is some additional history on this.
SMS changed their name to Sunrise Solar (OTC:SSLR) a few months ago, and has stated in their financials that the plant in question has been sold off to Cargill, Inc. as part of a settlement for previously delinquent debt owed to Cargill. This debt was to have been paid to them beginning in September 2007. By SSLR's own admission in their financials, they only satisfied enough payments to carry them through about December 2007. What is disturbing is that the LOI with GFET was after this fact, when SSLR is believed to have known definitively that the plant had a lien on it and was the likely subject of an impending settlement with Cargill.
One might ask, "so what - how does that affect me here at GFET?". The answer is not so complicated - it has been reported that SSLR's CEO, Eddie Austin, is related to GFET's JT Cloud (cousins?). You should also know that one of SSLR's officers is Thomas Cloud (JT's son). So with the explicit knowledge and non-arms length transaction that was allegedly supposed to go through betweeen SSLR and GFET, both companies management knew it would never go through, but it sure might look good on the books (re: stock price) to have a sale (SSLR revenue stream) and a new, 1st, operating plant (GFET).
But wait, the story gets thicker over the last couple of weeks! Thomas Cloud's other company, Telemedicus (OTC: TMDI - the "virtual ambulance" company), suddenly, and inexplicably decided to change their company focus via an unannounced 1:20 R/S and name change to National Wind Solutions (OTC: NWND). The only company information we have to date (received posthomulously a week later) is that they "announced new management" (names withheld for some strange reason), moving to a new corporate office (which by the way, I drove by and found it to be unoccupied), and a new investor contact: Kathleen Delany. No surprise to me, but perhaps to others, Ms. Delany is also the CEO of My Healthy Access (OTC: MYHA), a company that was supposed to have an equity stake bought out by Cloud's TMDI company, but mysteriously fell through. Also of no surprise to me, Kathleen is a partner in Eddie Austin's Lake Charles Law firm. Can things get any more incestious than this?
The whole thing just smells fishy to me...anyone else share my feelings or is this all "coincidence" that the trail from Jack and Darrell Uselton has found its way here?
