DOCUMENT EXPIRATION? Would someone else check this out for me so I know it's not just my computer...go to Yahoo and pull up "Headlines" for NSOL. Click the one for June 15, 2009 -- does it come up with the message "Document Expired"? If you confirm that, isn't that odd as I pulled up all documents before it, then I pulled up documents after that and they're still available ? ? ?
I ask the above because I thought perhaps I was getting Alzheimer's in that my memory was going because I thought they said we were going to and I quote: "... convene at least one shareholder meeting this summer, where shareholders will be asked to vote on approving a registered spin-off of Fuel Frontiers, Inc. as its own independent, publicly traded company." I sure didn't want to bring up a particular question that's been on my mind for the past couple of weeks unless I could pinpoint it exactly.
Well, guess what, even if I couldn't pull it up on Yahoo anymore, I did an internet search and I am posting the news again to see if others read it like I do in that they said this summer. I am very disappointed that they would name a "timeframe" -- I didn't even need an exact date and here we are September 1st is tomorrow. Please, if you don't think you can stand behind something, don't give EXACTS. I am a person who stands on her word -- I expect the same from you. It would be better to just say we are going to hold a shareholders meeting the last quarter than to give us false hope. Yes, financing may be taking longer than expected but, my God, learn from past mistakes here. Oh, yeah, you all wanted a vote from the shareholders, well, you would've gotten a more positive response if you had stood by your word! Here's the news again (look at last paragraph):
-----------------------
Re: NSOL — Nuclear Solutions, Inc. (Renewable Energy/Nuclear Equip)
« Reply #1 on: June 16, 2009, 08:09:29 AM »Nuclear Solutions, Inc. and Fuel Frontiers, Inc. Successfully Raises Funds to Purchase Land for Coal-to-Diesel Facility
WASHINGTON, DC, Jun 15, 2009 (MARKETWIRE via COMTEX) -- Nuclear Solutions, Inc. announced today that it has successfully raised funds to purchase an identified parcel of land in Muhlenberg County, Kentucky for the construction of a coal to ultra-clean diesel facility through a financing package with a total potential value of $700,000. Groundbreaking is projected for July 2009.
Nuclear Solutions, Inc. sold three million unregistered shares -- which represents 10 percent of the equity -- in Fuel Frontiers, Inc., its totally owned subsidiary, to a Kentucky-based private investor for an initial amount of $350,000 in cash. This funding transaction settled on June 12, 2009, and the funds have been released to the company. As part of the transaction, the private investor also paid for a stock option that gives the right to purchase up to an additional 10 percent in common share equity in Future Fuels, Inc. for another $350,000 in cash. This 90-day stock option expires on September 12, 2009.
According to the terms of the financing agreement, the private investor has the right to name one director to the board of Fuel Frontiers, Inc. for a 12-month term, and has exercised that right by choosing to appoint David C. Maland as a director. Both Nuclear Solutions, Inc. and Fuel Frontiers, Inc. retain the first right of refusal for a period of five years to repurchase all shares sold in connection with this financing agreement in the event that the investor decides to sell its shares in Fuel Frontiers, Inc. to a third party. Additional details of the transaction will be released in a forthcoming 8K informational filing with the Securities and Exchange Commission.
"In these challenging economic times, many would concur that investment capital has become scarce. We are, therefore, extremely pleased to be working with such a forward-thinking and committed investor. Most important, this financing agreement now allows us to follow-through on our intentions to purchase the land necessary for the construction of a coal-to-diesel facility in Kentucky," confirms Nuclear Solutions, Inc. Chief Financial Officer, Kenneth Faith.
While moving ahead with the land purchase, Nuclear Solutions, Inc.'s management is expected to convene at least one shareholder meeting this summer, where shareholders will be asked to vote on approving a registered spin-off of Fuel Frontiers, Inc. as its own independent, publicly traded company. Such a shareholder meeting will also provide an opportunity to decide other pertinent matters, such as amending Nuclear Solutions, Inc.'s articles of incorporation to increase the authorized number of shares and holding an election for directors.
