This is the reason I believe CTTC
Then again the amount of revenue to supply heat in the winter is unknown. Assume it is more than sufficient to pay for the legal expenses. So LLEG continues to exist.
Did LLEG have the ability to qualify for a $125M loan in 2008 for Berlin? Does a company previously suspended by the SEC have the ability to qualify for a gov backed loan of $100M+? Where it's total assets are $2.7M, and part of that $2.7M has already been invested in New Bedford? Guess anything is possible with our looney Fed gov, but the odds seem high it will be many years if ever before this company has the credit worthiness for any large loan. However, continuing as a project management company bringing in $5M every 5 years for executive compensation, doesn't depend on credit worthiness. (Note to king oil: $5M split every 5 yrs among the Bart gang will not add accrued value to the common stock).
Management indeed may decide to escape the Grey havens simply by going private. It might solve a few SEC problems. At a price of 0002 the 2.4B float can be bought out for $480K. A new enity is created a couple years later, and the pinko game of issuing new stock for cash is played out again. Alternately they may just ignore the Grey common stock. They have the seed money for New Bedford, plus what ever dribble is left in Berlin. But again little to no accrued value for the common stock, outside of what ever stockholder speculation places on the stock.
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