Are you saying this is a negative event? Why would you attempt to spin such a positive PR anything other than what is really is? What is your beef with this company, I fail to understand your thought process. The company said it ELIMINATED $125K worth of debt from the balance sheet. Sounds like management did a good thing to me. Notice the PR didn't say anything about paying down any debt, they eliminated it. Also, recent news stated; Amelot Holdings, Inc. (PINKSHEETS: AMHD) announced today that Amelot Oil and Barbados National Oil Company Ltd.(BNOCL) have signed a non-binding memorandum of understanding (MoU), with the intent to form a joint venture (JV) in Barbados for the ownership and operation of a biodiesel production facility for the supply of biodiesel fuel. The JV would enable Amelot and BNOCL to establish a scalable and sustainable biofuels business.
The Barbados National Oil Company is a national state-owned energy provider in the country of Barbados. Founded several decades ago, the company satisfies about 30% of the country's total consumption of oil and gas.
As far as I'm concerned, there has been nothing but good news here lately. Now, take a look at this part of that PR; The MoU envisages that under the second phase Amelot and BNOCL will jointly operate a biodiesel production facility that will utilize containerized modular equipment and proprietary feedstock technology. The modular design and sustainability of the process is expected to produce biodiesel in such quantities as required to support BNOCL's long term goal of replacing conventional diesel with 100% biodiesel.
I don't know how you guys decipher that info, but I see it as a possible buy out or at least a buy in.
How about this PR; In a news release dated January 19, 2010, Amelot Holdings, Inc. (PINKSHEETS: AMHD) announced that its wholly owned subsidiary, Amelot Oil Inc., was forming a new subsidiary for the production and marketing of biodiesel in Trinidad and Tobago. The name Amelot Oil Trinidad and Tobago Limited was subsequently reserved. We are pleased to announce that the formation of its subsidiary in Trinidad is now being finalized.
Since then, we have been in talks with potential partners in Trinidad and Tobago, and expect to have agreements signed within the next few weeks.
Demand has been exceeding supply at our Barbados biodiesel production facility, which can be attributed to the extensive marketing campaign that was begun in December of 2009. We are now looking at cost effective ways in increasing production capability at our current facility.
Seems like we are on track here to profit nicely. There's no other contrary evidence pointing else-where. Time will equal profit.
AI
