I agree with that approach, go in with your ducks in a row. That way all you have to do is post here is what the city is saying and here is what BEHL is saying. Compare and contrast all you want but here is what both sides have said and draw your own conclusion form what has been given to us.
The only potential problem I see .. I'm not certain the inspector is under any obligation to contact a shareholder of public company to explain any violations. That is why I didn't share her contact info with the world.
I actually believe it is an IR issue. My intent isn't to say "Gotcha Dennis" it is more along the lines of .. "I'm keeping you honest Dennis, holding you to your word, sifting through the forward looking statements.
I would have never paid attention to the City of Santa Ana if I didn't feel lied to about Huntington Beach.
Just a reminder for those just joining the conversation..
Oct 26, 2009 10:36 ET
Dennis Fisher, company President & CEO, today announced the company has received approval from the Huntington Beach, California planning and approval committee to proceed with the 1.5 acre ALGAE farm development along with the company's new corporate headquarters in Huntington Beach, California.
This turned out to be completely false. I spent hours trying to confirm that PR.
Dennis Fisher, today announced the company has executed the lease for the company's new California corporate facility on S. Garney Street, Santa Ana, California. The facility comprises of approximately 6400 sq ft of administrative space and One acre of land for the construction of the new Closed Loop Photobioreactor system. Construction is expected to begin January 2010.
The first thing I noticed ... there wasn't an acre of land on site. Also I noticed no mention of local government.
On Jan 04, 2010 10:04 ET
The Company stated The City of Huntington Beach, our first relocation choice, provided an unprecedented number of additional roadblocks to our goals which made it impossible for BEHL to accomplish our goals in the necessary timelines. Unfortunately, considerable time and expenses were allocated which did not achieve the desired results.
So they were not approved as stated. Which the DD proved long before the company acknowledged it.
In that same PR my concerns about the lack of acreage was touched on. BioCentric has moved into our new HQ location comprising of 6400 sq ft of administrative and laboratory space at: 2400 South Garnsey Street, 2nd Floor, in Santa Ana, California. Ground preparations have been completed for the next generation of 6000 sq ft of the BioCentric Algae Pro-Photobioreactor onsite. Additional areas are also in the process of being prepped for R & D of the next generation Algae Pro Photobioreactors.
The land space issue was mentioned again in the recent quarterly report. However there is no mention of the "Additional areas are also in the process of being prepped for R & D of the next generation Algae Pro Photobioreactors."
The Management of BEHL has signed a two year lease for 2400 South Garnsey in Santa Ana California. This location has 6400 square feet of office and laboratory space, and sufficient ground space to build a 6200 square foot Algae Pro Photobioreactor and one small beta unit for the next version. At said location we have purchased four twenty foot containers to accommodate our skunk works for the next generation of our products and have all the necessary equipment to build our test components in house. Rent for the first six months is $4000. and after the interim is completed, the rent has been negotiated at $ 5,500. per month for the duration of the lease.
I didn't mean to put scat in anyones Cheerios. I noticed a few details that were not adding up. I choose to share my findings here.
I would love to be wrong. The private messages to me can stop. I'm not trying to scare anyone out of their shares. I'm not trying to buy anymore cheap shares.
I know I said " I would let it rest" but I can not accept responsibility for BioCentrics actions or lack there of.
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