Replies to post #20613 on Alcar Chemicals Group, Inc. (fka ALCX)

[MrBigz]

Question:

If SIAM has 7.2 million dollars in escrow, and SIAM backs out of the deal, wouldn't it be logical to assume, that ACMG would have a clause keeping part, or all, of that initial 7.2 million?
Then they wouldn't need Siam or any other company to finance them.


The company stated it has received confirmation that the initial investment -- injected by Siam Renewable Energy Group in the form of a convertible loan bearing no interests or capital repayments for 24 months and automatically convertible into shares at the fixed price of $1 per share with the beginning of operations of the first plant -- has now been placed in escrow, awaiting final closing of the definite agreement for release.

MBL

[sally123]

I quess the question is where's the plant?

I would think it would not be hard to verify the existance of the plant, but no one has or at least volunteered
that info.

[MrBigz]

November 9, 2006 NR:

The procedures for the acquisition of our facility are proceeding slower than foreseen but the delays will not affect the overall schedule as we will be moving into an existing and well-suited building. The facility is in the Parc Industriel et Portuaire de Bécancour, near Three Rivers, in Quebec, Canada. The facility is comprised of an existing 25,000 sqft building situated on a 370,000 sqft lot and its convenient location by the port offers access to shipping, rail and highway as well as an adequate pool of qualified labour.

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August, 2006 NR - they signed a long term office lease last August and are already moving out???:

Facilities & Operations -- we concluded a long-term lease and will be moving into our new administration offices on the coming Monday. With savings on initial office set-up as well as significant long term cost savings, the decision to separate administration and operations is mainly based on economy.

The decision to separate operations and administration resulted in almost half a million dollars in up-front cost savings.


MBL