RE: Z & without getting into out usual sniping,I'll try to answer some of the questions that you (finally) asked and we have asked for quite some time.
1. How is IBR going to do an Offering Memorandum when:
A: they are under the very real threat of insolvency?
B: they are under the very real threat of litigation?
C. they have never followed through on any of their business
plans or announcents to date?
D. they can't keep a CFO. (The last one hung in there ten days).
I believe there were OM's done in parallel to the technology sales as private placements. Look at the total number of shares outstanding and how it has increased from the time of the IPO to the present. Please review all the news releases going back four years and see who the private placements were issued to and when.
As far as the demand for the end product, there is a tremendous demand for the end product on the retail level. I do not think that IBR has the sufficient raw material to meet the demand on a level needed for large scale growers though. Look through the USDA information on the amount of organic fertilizer required to fertilize just one acre for one crop a year. Furthermore, they have to actually produce MORE than required in order to have enough raw material to custom blend the fertlizer to meet customer demand.
Another point here is that IBR has never come remotely close to recording a profit, let alone break even. How is somebody going to put money into an IBR plant until they are certain the can get a return on their money? Like Flexy said once, "Waste Management is looking at IBR for four locations in California". Where is WMI now and why didn't they step to the plate? And why didn't the step to the plate 4 years ago. And why didn't Allied step to the plate 4 years ago with their 5 plant deal?
As far as the Van Dyks running off with the Shearator patents, let them. One of the "claims" that the Van Dyks stated was the revenue generated from Shearator sales to wastewater treatment plants. Well, how much are they and how many have they sold there? That information is private (it being a private company and all) and I was supposed to receive stock in it as I was a pre IPO/IBR shareholder. They will hear from me on that real soon. There is other technology out there that works just as well. It would only mean modifying their tanks to accomodate the different devices. I build stuff, remember?
I don't believe that Dixon was the root of the problem. Even when he was president, the Van Dyks were always in the wings and on the board. This thing has been public for 4+ years and other than when the price climed about $6/share in March 2000, it has been declining ever since. Even as Ben cut deals with Bailing Zhang and the Chen Chen group.
Which brings me to the point about which house would sponser an OM. With the good news about the Bailing Zhang and Chen Chen deals, why weren't the brokerage houses, Cannacord in particular, recommending this to their clients and why weren't their clients buying? Same with Scotia/Mcloud? With those two deals alone the stock should have moved and held.
It is $.15/share right now and the numbers don't lie.
I do not think the company has the transparancy to stand up to the due diligence that it would take for anyone to be convinced to buy into an OM for the kind of money they need right now. I believe they would need a minimum of $2 million just to get back to even. How many shares have to be sold at fifteen cents, plus as you stated earlier a warrent attacted, to get that kind of revenue? Also, even if they did receive that kind of money, would would make anyone think that the Van Dyks could turn the company around.
They received $2.5 million from the Loh's
They received money from the Bailing Zhang deal.
They receive money from the Chen Chen group.
What did they do with the money then and where did it all go? I hear the Loh's are not the only creditors with the company. Why wasn't the company turned around then?
Ben's only hope is if he can convince the existing shareholders to "average down" in order to "save" the company from ruin. I think he might try the Shearator ploy. I for one am not buying.
Either way, he's gone.