So, it’s a scam because it appears that it didn’t work out as planned? Eugene had a very reasonable plan last year when coal prices were soaring. They busted a$$ to make it work but just couldn’t get the wick turned up quickly enough. Now they have the ability to produce (I’ve been there recently and seen it with my own eyes too). But the market has tumbled turning their profit margin negative. Makes no sense to bust their hump now to produce, only to keep ending up in the red. But they have put their heart and soul, and their pocketbook and that of the shareholders into it. Eugene owes it to everyone involved not to throw in the towel until they absolutely have to. Until then, all he can do is string it along and hope for the situation to come back to him. Currently it looks like that may not happen. But in the mean time, until that is decided, the debt conversions are coming due. Deals that were inked when they were still planning to be profitable by now are effecting dilution now. Do you blame the convertible debt holders for cashing in for stock while they can if it looks like Quest’s odds for profitability are long? I believe Eugene was initially overly optimistic, misjudged the situation and it is largely out of his control now. He held the controls and made the deals in an earnest attempt to succeed. The situation went in an unexpected direction and now those deals are coming back to him… in a bad way. I’m not trying to defend the guy. I’m not saying he has not taken some opportunities to take a paycheck along the way. I’m certain that he has. But I feel that he had intentions of running this thing to the moon. Now it appears to be crashing to the ground and time may be short to turn it around.
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