"Laidlaw's legitimacy can no longer be questioned."
I disagree completely.
As a public company Laidlaw's legitimacy has already been questioned by a Federal agency, the SEC.
In fact, the SEC have given three separate reasons for the suspension (which automatically results in relegation to the Grey market for Pink Sheet stocks):
"Laidlaw Energy Group, Inc. is a New York corporation based in New York. Questions have arisen concerning the adequacy and accuracy of press releases concerning the company’s operations, the accuracy of its financial statements, and stock promoting activity by the company."
One fact that hasn't been remarked upon on any of the recent posts about the completion of the Cate Street financing is that LLEG's original "financial statement" showed their supposed initial payment for the Berlin Burgess project as an "accounts receivable", that is LLEG never received the cash owed even three months after it was supposed to have fallen due.
As I remarked at the time, this is an extremely unusual delay in payment, given that the payment was meant to be for an asset transfer.
Any reputable company wouldn't allow the asset to be transferred unless and until payment was guaranteed on the same day.
I wonder if the accounts receivable amount is in fact dependent on this completion that now seems to be accomplished? If so, then LLEG may be due no extra money at all.
Certainly LLEG's legitimacvy is very much in doubt. It has been accused of serious breaches of important regulations by SEC, a supposedly material event has just transpired, and yet the silence from Mr. Bartoszek and his accomplices is deafening.
I suspect the true story of their duplicity and fraud is just beginning.
"It is difficult to get a man to understand something, when his salary depends upon his not understanding it."
Upton Sinclair
"Nobody ever went broke underestimating the intelligence of the American public."
H. L. Mencken
