Replies to post #32304 on Freestone Resources Inc. (fka FSNR)

[JayDiamond]

One man's failure is another man's success! Thank you Charles R. Cronin, Jr. for laying down the ground work for FDEP!!!!
Hahahaha

[RedShoulder]

You have 'your facts' wrong.

This was such a great no-lose idea that Cronin decided to give it away for $500,000 or whatever he ends up selling his fsnr shares for???

Freestone Resources paid Cronin a 'cash' downpayment of $500,000 and he did not receive any stock.

It was FSNR's JV partner Dynamis that bought the shares for $500,000 which FSNR used as the 1/3 down payment for the CTR facility.

[Steady_T]

And there is more. The deal that you linked never was completed as the filings by Dynamic Energy Alliance Corp show. Those filings have been posted on this board already.

Yet for some reason that PR keeps showing up even though none of the things it talks about ever happened.

From the Dynamic Energy 10Q http://www.sec.gov/Archives/edgar/data/704366/000147793213004088/deac_10q.htm

The Company's business plan anticipated the creation of a state-of-the-art production facility called the "Pyrol Black Energy Campus" in 2013 and early 2014, as one of its initial milestones. So far we have been unsuccessful in this endeavour.

The Company had identified a location in Ennis, Texas as a potential site upon which it could develop its first Energy Campus, and announced its intention to purchase such site, pending the completion of favorable due diligence and the obtaining of the necessary capital required to proceed. Unfortunately we have been unsuccessful in obtaining this capital and there is no indication that we will be able to obtain financing for this project at any point in the future.

From another 10Q or DEAC.
The amounts due to a related party at June 30, 2013 and December 31, 2012 of $183,045 and $119,139, respectively, represent an unsecured promissory note (“Cronin - LOC”) due to a shareholder and director of the Company. These amounts are unsecured, bear interest at 15% per annum and payable, with accumulated interest, and due December 31, 2011.

Looks like Cronin tried to buy a tier pyrolysis techonolgy via DEAC but failed to pay for it.

On October 10, 2012, the Company, through its wholly owned subsidiary, Dynamic Energy IP Corporation (“DEIP”), executed a Non-Binding Letter of Intent (LOI) with Terpen Kraftig LLC (TK), a company managed by two of the Company’s Directors, Charles R. Cronin, Jr. and Dr. Earl Beaver, contemplating a definitive agreement within 45 days from said letter of intent under which TK would assign to DEIP the exclusive, worldwide license and right in and to Licensor’s catalyst(s), reactor and fractionator technology relating to the recovery of high valued organics from the processing of waste tires (the “Licensed Technology”).