A post:
Saturday, 02/10/07 06:04:34 PM
Re: None 0
Post # of 203970
I have been following this stock for some time but I am new to this Board. I have not been able to find any pertinent discussion regarding the fact that Exchem just defaulted on a $2,000,000.00 loan per their 5 Jan.07 SEC filing. This is probably the reason their $9++ Million loan hasn't been funded.
Who is Alembic? Exchem/Dr. Pandey gave them a very big piece of the projected revenue from Nicosan and distribution rights to Africa and India for just $3,000,000.00. Them he hired his brother for a nice $ figure with money he apparently didn't have.
Banks don't loan money to people who don't know how to handle money and Dr. Pandey and his clam appear to be sucking all the juice out of this deal before it even gets started.
The site work shown in their Nov. 06 photo's doesn't amount to anything and is the equilivant of $10,000.00 to $15,000.00 in material and labor here in the US. I do this kind of stuff for a living.
This $2,000,000.00 loan default is going to have to be addressed before the $9 Mil.++ loan is funded and these people have a track record of giving away the store to get a little operating capital.
I would venture to guess that the present stockholders are about to take a hit: $2 Million is 100 million shares +- and they won't get .02 a share when they try to move that much new stock.
These people may be great scientist but they don't appear to know the first thing about running a company and the lack of info. from the company tells the tale.
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