"I also invite you to remember what was subsequently posted on this forum in 2009, and as late as 2010. The individual investor was posting about million$ of yearly revenue. You had threads trying to add revenue from Berlin, on top of other sites. Then would follow proclamations the stock was going to 0.10 very soon or some other moon prediction."
Your kidding, right? I would hope that all of us here understand one of the foundational rules of investing. Everyone is responsible for their own investment. Perform your own due diligence. The threads here and each individual investors posts cannot be blamed for anothers decision to invest here. Take EVERYTHING posted on msg boards with a grain of salt and verify the info through your own DD to make an educated investment decision.
"That was all perception generated by LLEG management."
No, actually, that was the perception generated by all of the speculation over the years here. What we have from the company are official PR's and hundreds and hundreds of pages of documents relating to the dockets before the state of New Hampshire. One docket with the New Hampshire Public Utilities Commission (PUC) and 2 dockets with the New Hampshire Energy Facility Site Evaluation Committee (EFSEC). One thing I do admit is that we found out a lot of key info related to our investment through these dockets and not from PR's released by the company, i.e., the breakdown of the capital structure. I am with you to say that this was frustrating at times.
"We had to wait until very recently to find out they were working it as a pure project having agreed to sell their stake in 2008"
In hindsight, looking back at the original EFSEC application and the dockets mentioned above, coupled with the PR's released by LLEG, it was never said that this project was all theirs and that they would own it. Besides, when you read though the docket and realize the magnitude of this project, common sense should have told you that Laidlaw wouldn't own this project. So the organizational structure that was divulged in the original app shouldn't have been that surprising to anyone. Most of the financial backing was put up my outside investors, which ordinarily means that those original investors will see the most return. We were the catalysts behind this project and will be duly compensated for that I believe. A stepping stone so to speak. And we sold our equity stake to Newco last year, 2010, not 2008. That was divulged in Aug of 2010 through the amendment order of the structural organization located in the EFSEC docket.
"What they have said about Susanville is also entirely consistent with that being another project where the end result will be a buyout of their assets, plus a management fee."
With Susanville, the PR states we will the 100% equity holder. Never mentioned with Berlin. BTW, being the 100% equity holder could change too. So, in that sense, you are correct. We might sell our 100% equity interest and move on to another project. All speculation on my behalf.
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