RE: RE: More Good News???I have to agree with naccomatose.
If insiders were thinking about the shareholders as much as they did themselves, they would've been supporting the share price, especially when someone sold at market down to
.03.
Yet with management making on average $200k plus annually, none of them bought or is buying at these 'ridiculously' low prices.
And another thing, it's one thing to paint a rosy picture as to why the DOE dropped Lignol from further funding, but to think that LEC chose to foregoe the DOE money is just not true.
The partial truth is in this paragraph from the news:
"Our goal to develop strategic partnerships to construct a commercial demonstration plant did not materialize as we had set out to achieve at the start of Fiscal 2011.This was partly due to the fact that we did not complete our major body of engineering designs until this past spring and because we had not secured off-take agreements sufficient for a commercial project. It also became apparent that partners and investors would be seeking to invest in a commercial project instead of a demonstration scale plant. Accordingly, in July 2011 we announced agreement with the U.S. DOE to phase out work on the funding award for a demonstration project."
To think that investors would not be interested in a demonstration scale plant is just inexcusable. How long did it take this well paid management team to figure this out? I personally don't buy it.
Too many blunders and no wonder LEC is trading where it is. Paint whatever rosy picture you like, this isn't the first opportunity management has messed up. The Suncor deal didn't last very long, and now the DOE drops them from further funding because they just didn't meet with expectations of their original application.
So, why haven't they secured any off-take agreements sufficient for a commercial project? Trial Testing has been ongoing since April......