SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Microcap & Penny Stocks : International Automated Systems
IAUS 0.04000.0%Jul 8 5:00 PM EST
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
From: TEDennis5/8/2021 3:54:17 PM
1 Recommendation

Recommended By
scion

   of 7619
 
More info from the Receiver's quarterly report:

Purchase Option for 1,000 Acres in Millard County (Parcel No.’s HD-3511, HD-3511-1, MA-2662-B). These three parcels together have an appraised value of $330,680. The Receiver previously accepted an offer to sell the 40-acre parcel (HD-3511-1), but the buyer failed to close and forfeited his earnest money deposit.

Subsequently, a company planning a photovoltaic solar farm expressed a desire to obtain purchase options for the three parcels. The established photovoltaic solar company offered to pay annual option fees for the property and pay $1.5 million for the property if the purchase option is exercised. After consultation with the United States, the Receiver signed an initial agreement for the purchase option and filed a motion seeking Court approval of the option agreement.

After the Reporting Period, the Court approved the motion and the Receiver will hold a public auction to determine whether any other bidders are willing to pay a higher purchase price or better option terms. The Receiver has already received an inquiry from one other solar energy company about the property’s potential for a photovoltaic solar farm.

It looks like at least two companies other than IAS liked the location of the property and thought it was a good choice for a solar farm. So, "somebody" at IAS made a good decision to purchase that property.

The IAS/RaPower3 CSP and/or CPV technology could have been used at that site. It would have generated tons of dollars for IAS. The IAUS stock price would have sky rocketed. The RaPower3 "team members" would have been justified in claiming a 30% tax credit and associated depreciation.

Alas, according to a US District judge and confirmed by the Court of Appeals, the IAS technology didn't work.

Bummer.

Have I mentioned lately that those nasty "Paid Bashers" were right?

Sure is a pretty day.

TED
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News