DD Support Board and Research Team

[samsamsamiam]

I don't think the ethanol business was legit either. Alex Smid all the way. and nothing has changed except they feel invincible because the SEC didn't stop them when they ran that ethanol scam.

I think this latest Cash dividend play will finish them off.
It is total nonsense for a variety of reasons.





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ethanol plant mentioned in this article

http://www.guardian.co.uk/technology/2006/nov/04/news.money


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Land

On September 28, 2006 the Company formed a wholly owned subsidiary Southridge Environmental Inc., incorporated in the state of Mississippi, which acquired land located in Quitman County, Mississippi, for the purchase price of $375,000, that closed on October 5, 2006. The Land is situated on 37 acres located in the northwest region of the state, which is in the lower portion of the Mid-West corn belt. The industrial plant facility plant on the land is a warehouse with no value. This warehouse facility is a 76,000 sq. ft industrial structure that will be converted to house equipment for ethanol production. We are in the process of sourcing such equipment.


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Option Agreement Deposit

On September 13, 2006 the Company entered into an option to purchase agreement (the “Agreement”) with Boss Group of Companies Inc., to acquire an ethanol plant in Saskatchewan, Canada for the sum of $632,500. On September 28, 2006 the Company formed a wholly owned subsidiary Southridge Ethanol Inc., incorporated in the state of Mississippi, that is intended for the closing of this agreement with the purchase subject to due diligence by December 11, 2006. A $20,000 non refundable option deposit was made and was expensed as no definitive purchase agreement could be reached.


http://www.sec.gov/Archives/edgar/data/1303361/000114420408051046/v125447_10qsba.htm

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there were a few lawsuits about the ethanol plant as well.


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and here's their old website

http://wayback.archive.org/web/*/http://southridgeethanol.com