I received a response from Jim as well. As harsh as my emails are, he always replies. My hat off to him.
BT,
The e-mail is you shared is B/S! There are 1, 500,000,000 shares authorized, so if we desired we could sell a lot of shares.
If you check previous financials you will see that I worked for nothing for almost 2 years, and that I now draw only 1/3 of my salary…the rest is accrued. I have 40,000,000 restricted shares and I always had 40,000,000 restricted shares. I also have 1,000,000 preferred shares that gives me voting control.
I personally purchased essentially all of the company’s assets (building, machine tools, design tools, etc) and lease them to the company. However, I have not collected any lease money in at least 3 years.
After 1 PR several years ago, after the stock climbed and then nose dived, we were contacted by FINRA and asked to provide documentation relative to the PR. We did so (signed contracts) and FINRA responded that we had no issues and appeared to be an exceptional Pinksheets company.
We have no investors that are currently funding the company because we have elected not to sell any stock at discounted prices. The only capital that we generate is through contracts with the US Army and European and Asian engine companies.
Yes, we are late, again, providing first quarter results. That will be remedied shortly (assuming that I can afford to retain a new attorney).
Relative to news, check our website the week of June 17 and you will see some substantial news. We will follow that up with a PR as soon as we can afford it. Our company has positive cash flow and gainfully employs 6 people (soon to be 7). However, don’t expect further news on any regular basis as we choose not to pump the stock based on news that has no real meaning. When we get new business, we release news (when we have signed contracts in-hand). We have enough business on the books now to operate for 3 years.
BT, you claim to be an investigator. If that is true, you should know that the Pinksheet companies are mostly shams that have no facilities or employees. Our company is different…we are real.
We are in a very difficult business that depends on innovation and technical breakthroughs to generate significant growth. We are making significant technical progress, but we need to go to the manufacturing and sales level to generate significant profits for our investors.
I invite you to research an alternative fuels company called Range Fuels, an entity that was funded by Vindod Khosola, DOE and others to the tune of $100,000,000. This company was to manufacture bio Ehtanol from wood to be used in passenger cars. We had contact with them and were doubtful about their viability. Range Fuels built and operated a large plant in Sopperton, GA beginning last September. They have now stopped operations and laid off most workers….their process did not work. The stock holders lost their entire investment. Stuff Happens! This was a legitimate company that made technical mistakes in a very challenging arena…they lost!
We will not fail as a company, but it will be a long haul until we become highly profitable. We will not sell off any stock at discounted prices, so we will have to find other ways to raise capital….we will do so when the time is appropriate.
I have stockholders encouraging me to do a 1000:1 reverse split. I have others that just want me to release news every several weeks. We plan to do neither.
Jim McCandless-President Alternative Fuel Technology, LLC Tel: 313 720 8680 Visit or Website www.altfueltechnology.com
Dear Jim,
Is it too much to ask for AFT to post quarterly reports on time? Again, AFT has been downgraded by OTC Markets. While I grudgingly accept the lack of company communication as status quo, I can not accept untimely quarterly reports and financials. It's basic corporation 101 to be current and regardless of the size of the corporation, at least this must be observed. You have stated many times that you hate being on the pinks because most pinks are scams. I say it is time that AFT stop operating like a scam and start operating like a real company. Please give your shareholders some confidence. Make us understand that you, as CEO, acknowledge that part of your job is to maximize shareholder value. Will there ever be a return on investment?
Lastly, the below post is very interesting. Can you explain why the O/S has increased?
Respectfully,
BT
FROM PENNYTRADETODAY'S POST
Well I just got off the phone with Empire Stock Transfer. The O/S is now 592,233,688. Now I know some people won't believe me, but you can call them if you want. I didn't ask the about float because I know it doesn't matter. If you believe Luna which I do. From her email from james sometime in early april james states he has about 40 million in restricted shares. From previous quarters the o/s and float was a 40 million difference.
Last quarterly report ending september the o/s was 558,233,688. So it looks like it was increased by 40 milion.
So we have a: O/S at 592,233,688 shares Freely tradeable shares at 552,233,688 shares <--- which may be maxed out.
I believe the float is maxed and it probably happened last oct maybe nov with the record volume of 70 million. That is also another reason why he wasn't PR. No more stock to give away. I find it funny how james states in one of his emails posted on here that everytime he PR's (5 if I remember correctly, all last year) the stock always goes down. Naked shorts is the reason he states right? How about the fact the O/S and float increased (check the ibox) as well I don't believe the naked shorts control that, the CEO does!
I don't believe there is dilution going on right now. But I don't see a bright future either. If as some investors stated on here the stock price really doesn't matter now since james is making money not diluting any more. OK, no quarters to even know what the company is worth, no PR's. Good luck.
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