Three positive LLEG notes:
The approval of PPA means what? Does it mean the final payment for LLEG's project management services is forthcoming within weeks? An announcement what that final payment will be? More likely Cate won't pay until the first electron comes down the wire. Until then one can speculate whether that final payment a year of construction away is worth $4M or $40M.
The small power producers have been very clear in what they want. They want the same price allowances, or ability to price in increases as given to LLEG. Apparently they are locked into a price structure with low margins. Sounds as though they will be given better terms.
If a company has the SEC knawing on their accounting tails, where the SEC is telling them to fix it, as in you must address the financials now or more serious SEC actions are on the way, then getting an accounting firm in quickly capable of performing the work is prudent.
As for rumors it's just a few outdated web pages, why hasn't the management issued a statement: The SEC found the following 5 trivial things wrong, and we intent to address it by the following means... If it's as trivial as it has been made out, then there was nothing preventing the release of a detailed PR. USOG was quite specific in its PR release. And their issues delt with financials, not trivial webpages. Where's the PR?
