The Green Valley Project was one I trusted would generate revenue, as Molen made press releases that ARE Energy engineers were meeting with Mr Chew, a consultant of Vega, and that generators had been ordered from ARE Energy. However, the truth about the meeting was that Molen was told that there is not enough methane gas in the mine to generate 400 kW of power. Despite this Molen stated in a press release that 5 MW is planned to be produced from the abandoned coal mine. Thus, he deliberately mislead investors of VGPR with the press release. This is securities fraud by the law itself.
Subsequently, I feel so stupid that I did not sell the shares of VGPR in the Nov-Dec 2009 pump, where besides the Green Valley Project Molen made news that he will build ten biomass plants throughout China, a plant in Georgia, and also in Brazil. I had 800,000 shares in which I had invested around $10,000 since 2007, and could have sold them at 0.03 making around $14,000 profit.
I am so much screwed by this dude Molen that I will wait until he is taken to court for his securities fraud. Sooner or later it will happen.
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