Interesting when you consider...
1. HH advised GreenSafe not to cash the valid big cheque until January 2010.
2. BGMO could not close the deal with GreenSafe since the offshore funds earned from the high yield program could not be made per the agreement.
3. BGMO negotiated with GreenSafe to reschedule the share purchase agreement over several months to match the expected payouts from the high yield program.
4. BGMO then later advised GreenSafe that the money now resident in the UAE was returned to the investors as the Patriot Act would not allow the money into the US.
5. In early 2011, a new deal is structured between BGMO and GreenSafe but this time, only Kennedy and Instrum are involved.
6. GreenSafe, armed with the new BGMO paper, approached government and a Deutsch Bank for money. The Bank was prepared to deliver. The government would deliver if BGMO could produce.
7. GreenSafe was never funded by BGMO so that business was wound up in July 2013.
While this is a simple summary of the facts, there are a few key things to consider such as:
1. The principals of GreenSafe never owned shares in BGMO. In fact, HH stated that he did not want any person at GreenSafe to own BGMO securities. I find this very odd.
2. According to Swire, he does not recall meeting Brad Simon. Further, the only non-Canadians at the ground breaking were Wolfe and Herzog. Swire also told me a while ago that the list of names included people who were not GreenSafe staff.
3. There are parallels with the current VSTA delays and rescheduling of the funding and GreenSafe. Again, it would appear that the previous experience of promising capital to target companies such as Suntrough, GreenSafe, BB Solar, the coal plant and others (all which failed to materialize) will befall VSTA.
It is a sad state indeed.
As for the SEC investigating the people on the list - they could. Would they? I doubt it as they had nothing to gain from the BGMO pump and dump.
