They were talking about the plant in terms of $45M at earlier stages. The total ended up to be $50M followed by funding availability.
01/08/2013 "Gordon McKay, CEO of Green Energy Solution Industries, announced today that: Jason Watson, CEO of InREFco, technology and funding provider has stated "Although things have taken a little longer than expected, I am extremely excited to be able to announce that the $50M funding, previously announced, is in the final phase and the project should be completely funded this 1ST. Quarter of 2013."
04/03/2013 “.....is pleased to announce to its long standing and supportive shareholders that the long sought project funding is being concluded in concert with its joint venture partner InREFco.”
"The funding availability will mean that GESI will be able to begin the next steps of its waste-to-energy project development including technology site plan engineering, finalization of purchase or licensing of the selected energy technology, permit finalization, site planning, and closing of further contracts to ensure feed stock sources."
2) Any other specifics besides a forward looking PR?
See Open Letter to Shareholders of GESI Inc. next link below. As the project develops progress updates are expected.
3) Filings?
"The company will complete and file all necessary documents within the scope of Pinksheets OTC to move the company back to the listing of PS limited, or higher. All filings shall be realistic and accurate as to the progress of the company."
4) Also, do they have all the permits to build such a plant?
This is in process.
"Green Energy Solution Industries, Inc. (OTC: GESI), a project developer for a Waste-to-Energy project in Alberta Canada, is pleased to announce that it has engaged ISL Engineering and Land Services of Edmonton, Alberta to perform a due diligence package for the permitting, planning and usage stage of the proposed project land in Sturgeon County, Alberta, Canada. The initial planning and project discussion with the firm is set to begin on April 26, 2013."
"Chris Whitworth, Managing Partner of Green Energy Solution Industries, alongside Gordon MacKay, CEO, released the following statement in regarding this engagement: “We could not be more pleased with the projects development. We are looking forward to working with ISL Engineering and utilizing their understanding and experience in the planning and permitting stages necessary for government compliance in Alberta, Canada. We anticipate a thorough and reliable evaluation for this step of the project development.”
The most logical answer is as soon as permitting and any of the other prerequisites have been executed.
6) Is the power infrastructure in place already to get energy from the plant to the end user?
GESI is renting land from On-Track Railway Services. Not sure if that infrastructure is in place. The modular gasification plant will be on On-Track ground that was not destined for that purpose prior to negotiations.
7) They have a yield sign and they can't even update their share structure on their website.
OTC sign:
On 09/26/12 was the 2nd last Letter of Attorney in reference to OTC Current Information. Notice that this particular filing was never announced on the GESI news board but the May 11, 2013 was. What happens next short term remains to be seen but this is what the Open Letter to Shareholders says:
"The company will complete and file all necessary documents within the scope of Pinksheets OTC to move the company back to the listing of PS limited, or higher.”
Share structure:
Market Value is $2.7M as @ May 10, 2013 O/S 285M as @ Dec 31, 2012 Float 96.6M as @ June 30, 2012 A/S 490M as @ Dec 31, 2012
The O/S has been updated a little less than 4 1/2 months ago and the float is included in the O/S.
Taking into account all current events, there's a need for them to get duly reported. I am pretty confident that GESI follows up on Qly(ies) given the breakthrough on availability of funding since 04/03/2013 plus project developments since that date.
Viewing over all data I see a pretty positive story line. The recent events call for filings. The project development results of the permitting, planning and usage stage meeting should be announced duly.
“........it has engaged ISL Engineering and Land Services of Edmonton, Alberta to perform a due diligence package for the permitting, planning and usage stage of the proposed project land in Sturgeon County, Alberta, Canada. The initial planning and project discussion with the firm is set to begin on April 26, 2013.”
GESI satisfied the need for that meeting very shortly after conclusion of funding on April 3rd, 2013, the very basis for GESI to be able to project develop.
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