trenzich,
You're right! Some links DO take rocket science to post :
nssdc.gsfc.nasa.gov|Cosmic|Ray|Subsystem|Home|Page:::craft:::NO
...and...of course, some do not*:
bowesnet.com
yeah, yeah...I know it's the same ol stuff ....but a little pulse check is always good ....especially for those of us still alive....
regards,
bigtoe
*in case the page has been updated, here is the paste:
Solv-Ex files defence
By IRENE THOMAS
Today staff
Solv-Ex Corp. has filed a motion in a New Mexico court against allegations of wrongdoing made by the U.S. Securities and Exchange Commission.
The SEC accused Solv-Ex Corp. and two of its top executives of defrauding investors in a 24-page complaint presented to the U.S. district court in Albuquerque, N.M. back in July.
Solv-Ex's motion filed last week asks the court to dismiss the complaint, saying the allegations are "without merit."
The company's public statements and filings are correct, Solv-Ex said, and will be proved so by the company and independent consultants.
The federal regulatory agency has alleged Solv-Ex CEO John Rendall and vice-president Herbert Campbell made "false and misleading statements" from January 1995 through April 1997 concerning their methods to extract and process oil and industrial minerals from the oilsands.
The SEC alleges Solv-Ex promoted a technology to produce metallic aluminum which didn't work.
The complaint also alleges Solv-Ex understated its outstanding common stock by three million shares; Solv-Ex says the certificates were canceled because a proposed funding agreement was never completed.
Organizing a legal defence is expensive and time consuming,
said Rendall said in a statement, adding it's the "only opportunity" to restore the company's "integrity." A court case will also "explore what we think are serious flaws and abuses in the regulatory system," said Rendall.
Campbell told Today it's now up to the court to schedule a time to begin the court process. He doesn't know when the trial will get underway.
"A lot of things will become a lot more clear on the timing within the next 60 days but a lot of it is up to the court."
Campbell said the court action hasn't caused a delay in the company's reorganization plan. Most creditors owed money from Solv-Ex have been paid, he said, adding the company is trying to be back on a solid footing.
Solv-Ex began operating a small oilsands pilot plant north of Fort McMurray in March 1998. Four months later, the company filed for financial protection from Canadian and American creditors. In May, 1998 the Solv-Ex sold its two oilsands leases for $30-million to Koch Canada to pay its debts.
While Solv-Ex has certain rights under the Koch agreement to pursue mineral development projects, Campbell said that's not the objective of the company's present reorganization plans.
"We really want to effectively perfect the technologies before we attempt to do something further in Athabasca. It's not that we have abandoned Athabasca," he said.
Copyright c 1998 Fort McMurray Today
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