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Friday, March 25, 2011 4:15:58 PM
I can appreciate both the pros and the cons on this board. I ry to take a more balanced view by weighing the Indian solar objective (the plus side) versus the absence of the features common with a real business (the minus side). Some days, it is tough.
Once Bergamo has cash in a bank account that could withstand a rigorous audit will the naysayers be relieved. So with the pumpers as well.
The Bergamo story is dragging on longer than what people would have expected.
There was the GreenSafe saga with a December 2009 ground breaking and the big cheque but no cash ever delivered to build a plant. There was the Suntrough story of being acquired but now seems to be a captive supplier of equipment. We should not forget the Pakistani coal projects as well as something in Lebanon and a few other African countries. There is a litany of financing sources which predate my investment which did not close.
Amongst this adversity, BGMO did get a few dollars from the first solar site. This raised our hopes. It still is a challenge to remain objective in the absence of hard, verifyable data. One day soon, this will come to pass.
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