The greatest hits again.
January 17, 2002
Attention All Business Editors: Insidetruth.com
Initiates New Energy Corp ( OTCBB: NECO ) with an Immediate Sell & will hold a Miniature Furniture Estate sale after the Implosion !
NOTE TO EDITORS: The following is an investment opinion issued by InsideTruth.com
THIS COMPANY WAS INITIATED WITH COVERAGE AT 7-9 DOLLARS ON THE ANTHONYPACIFIC.COM
PRIVATE SITE PRIOR TO BEING RELEASED ON INSIDETRUTH.COM
San Diego, CA * January 17, 2002 InsideTruth.com initiates coverage on New Energy Corp. (OTCBB:NECO) with a STRONG SELL rating and a price target of 2 to 2 1/4 cents in the next 3 to 6 months.
COMPANY DESCRIPTION:
The Company alleges it is an alternative-renewable energy/thermal generator systems provider, In simple terms they provide solar power systems for residential and commercial applications. In simple terms, they think they can offer solar power systems to you and me and Billy Bob Mcgee.
FINANCIAL DATA & STATS:
Shares Outstanding :39.6 milion, fully diluted according to most recent 10-Q
52 Week High/Low : $10.05 / $ 3.20
Gross Revenue since inception : $ 0.00000000000000000000000000
Total Net Income (Loss) (Since Inception): (- $ 32,000 ) That’s LOSS for those who don’t know what the dash in front is, or are used to the manipulated pro-forma nonsense that these dastardly companies spew.
Cash / cash per share: $ 40,632 dollars / 0.00104 cents per share <---- this is simply ridiculous
sec.gov
OVERVIEW :
NECO claims to offer a solar power system, not much different then conventional solar power systems currently offered by hundreds of vendors and contractors. However they do claim to offer a tracking system that can track the sun as it rises and sets and moves around during the year, making their system more efficient then " fixed" solar panel systems. This technology has also been around for years.
PRESS RELEASES:
First we have :
New Energy Corp. Engages Magnum Financial Group
SAN DIEGO--(BUSINESS WIRE)--Dec. 14, 2001--New Energy Corp. (OTCBB:NECO - news), an alternative-renewable energy/thermal generator systems provider, today announced its engagement of Magnum Financial Group LLC, a Los Angeles-based financial communications specialist, to assist in broadening the company's audience within the investment community.
Michael S. Manahan, president of Magnum, offered: "At Magnum, we seek out early-stage companies that we believe have the potential for exponential growth, allowing those companies to transition to senior exchanges such as Nasdaq or the American Stock Exchange, and to obtain the support of major investment banking firms and institutional investors.
Our investment community contacts are looking to get in on the ground floor before our client companies become well known, and thereby achieve superior returns on their investments. We believe New Energy Corporation fits very well into this profile, and our objective is to assist management in building stockholder value. "
Manahan continued: "New Energy Corporation is a truly exciting company that is on the verge of exploding on to the energy market. This company has a product that the entire world needs: a renewable source of energy delivered cleanly and efficiently, and at prices competitive with that of energy derived from non-renewable fossil fuels. We are so excited to represent a company that has the potential to revolutionize the entire energy industry. "
biz.yahoo.com
However we interviewed Jeff Newmiller ,VP of New Products ,of Endecon, a company that services utilities, and energy service providers: federal, state, and local government agencies. Endecon is world renowned in the field of photovoltaics. See: endecon.com
Mr Newmiller told us that while he was shown photos of a system allegedly owned by NECO, he was never allowed to see an actual working model, and "if such a system actually existed it would require extensive testing and certification and the Los Angeles's Department of Water & Power which has this alleged system, isn't qualified to offer this certification. It would take years and years before a system like this could actually become more efficient and cheaper then conventional fossil fuel based power generators".
By the way, Mr Newmiller has met with officers of NECO, yet has never seen a demonstration nor has he ever been to their offices.
----------------------------
Then we have :
Stratos Research Initiates Coverage of New Energy Corporation
LOS ANGELES--(BUSINESS WIRE)--Dec. 18, 2001--Stratos Research, a financial research firm focusing on micro-cap companies, today announced that it has initiated coverage and released a report on New Energy Corporation (OTCBB:NECO - news). Those parties that may be interested in obtaining a copy of the subject report may view and download it on the Stratos Web site at www.stratosresearch.com.
biz.yahoo.com
Problem is that Stratos Research is directly related to Magnum Financial, just click the personnel link for Magnum then scroll down to the bottom and locate master pump master, David Frazier, magnumfinancial.com . David N Frazier is Stratos, also VP of Magnum. They also share the same address............ooooops!!!!
How very independent & objective!! Oh, and wait, Stratos seems to admit that they aren’t really a legitimate investment firm of any sort, they are simply paid mongrels who tout stocks that pay them, but their officers may sell their long positions at any time without notifying anyone.
stratosresearch.com
Followed By :
New Energy Corporation Signs 10-Year Energy Contract With Teixeira Farms Inc.
LOS ANGELES--(BUSINESS WIRE)--Jan 3, 2002--New Energy Corporation (OTCBB:NECO - news), an alternative-renewable energy/thermal generator systems provider -- today announced that it has contracted with Teixeira Farms Inc., of Santa Maria, Calif., to provide the company with High Concentrate Photovoltaic (HCPV) Solar Energy for a period of 10 years. The contract includes four 1-megawatt HPCV generators, to be delivered by the third quarter of 2002.
John McDonald, president and director of New Energy Corporation, commented: "This deal with Teixeira Farms Inc. is a significant accomplishment for New Energy Corporation, as they are the third largest agricultural packaging concern in the United States. This first contract with Teixeira is only the beginning of what we expect will be an increasingly lucrative relationship, as they plan a near-term increase in their solar electricity energy needs that will eventually exceed 100MW. Also, our relationship with Teixeira positions us to better take advantage of the vast opportunities that exist within the agricultural marketplace. "
biz.yahoo.com
HOLY MOLY BATMAN !!!!!!! THAT IS HUGE!!!!!!!!!!!!!!!!!!, "THE THIRD LARGEST AGRICULTURAL PACKAGING CONCERN IN THE US!!!!!!! Man it doesn’t get hype-ier than that for a BB stock, I’m salivating, we are talking billion in dollars here , wooooohooooo!!!!
Hold on a minute there bessy, we decided to find out what this release really means, so we contacted a few folk that understood the old ancient language of Con-manese, and this is what we found out.
See, Teixeira Farms, Inc. will pay the sum of zero to NECO; this will lock in NECO to put in absolutely nothing over the next 10 years. This is a deal to maybe have a deal, between a company with money that isn’t required to spend any, and a company with no money taking on all the risk. For that luxury the nothing flea of a company with no money gets to use the Big Company’s name in press releases to sell its stock higher to naive investors who have no idea what a photovoltaic cell is. However if NECO can gather the millions of dollars required to fund construction of a solar power system that uses a chip sold by Boeing and installed by outside licensed contractors on the premises of this business, Texeira will agree to pay 80% of the actual energy produced by this system to NECO, who if everything goes as well, will break even on each system after approximately 20-35 years according to a spokesperson at the California Energy Commission, consumerenergycenter.com .
For this deal to actually take flight, NECO would have to pay every dang cent associated with the design, manufacture, and installation of this system. Texeira agrees to pay nothing -- absolutely nothing . Once energy is being produced by this currently untested and uncertified system, then Teixeira Farms gets to save approx. 20% on any power they actually derive from this system. If and we reiterate if a system is ever installed. We at Insidetruth.com are willing to bet that no system is ever installed, ever.
--------------
Wait, hold the presses, this just in !!!!:
New Energy Corporation Signs 10 Year, 220kW Energy Contract With Andrew Martin Company, Inc.
LOS ANGELES--(BUSINESS WIRE)--Jan. 8, 2002--New Energy Corporation (OTCBB: NECO - news), an alternative-renewable energy/thermal generator systems provider, today announced that it has entered into an Energy Purchase Agreement with Andrew Martin Company, Inc., of Carson, California, to provide the company with High Concentrate Photovoltaic (HCPV) Solar Energy for a 10-year term. The contract includes a 220kW HPCV generator system, to be delivered by the third quarter of 2002.
John McDonald, President and Director of New Energy Corporation, commented: "Due to recent overwhelming demand for our product from the energy marketplace, we positioned to be extremely selective as to companies we sign to energy purchase agreements. We currently sign only those institutional accounts that fit within certain criteria, thus ensuring the fulfillment of our energy purchase agreements. Andrew Martin Company, Inc. is a leader in the plastics industry and we are pleased to add such a well-recognized company to our ever-growing list of institutional energy clients. "
biz.yahoo.com
We contacted Cliff Miller ,the president of Andrew Martin Company, Inc., which is a small plastics and resin company with less then 100 employees. He certainly was a nice enough fellow, who indicated that he had an identical agreement with NECO." I pay nothing out of pocket for this deal", claimed Mr. Miller. When asked if he had ever visited NECO headquarters in La Jolla, California or the administrative offices in Clairmont, California, he replied that he had never been to their offices nor had he been to the manufacturing facility in Mexico operated by Megawatt Corporation. That makes two hypey press releases, neither one of them spelling a dime in revenues for NECO till NECO spends millions and neither "customer" has ever been to NECO's offices or manufacturing facilities. We will get back to these locations later in the report , for now lets concentrate on news and future news.
This hasn’t happened yet but we already know about it and want you to all know about it as well:
According to Lou at Magnum Financial, NECO has 50 million in deals already signed that haven’t been released. In a conference call with investigators from Oklahoma, and staff at Insidetruth.com , Lou disclosed the following deal. You must pay close attention, cause it s a doozy of a disclosure, We are so proud to be able to bring you future information that is of massive material fact, prior to it becoming publicly disclosed.
mms://audio.anthonypacific.com/public/necocc.wma
(copy and paste in browser and listen with martini in hand)
WOWOW!!! COCA COLA!!
Pretty impressive isn't it? Magnum Financial the official retained IR firm for NECO is givin’ us Inside info about a monster deal with Coca Cola. Keep in mind this makes lots of sense, because Coca Cola will use the hot water generated in cooling off the chips to wash their bottles, according to Lou of Magnum Financial. Ughhh, gag us with a spoon!
We also get an added bonus of an earnings projection of 2.50 per share, that mans they will earn 10 million dollars all generated from a cash position of $ 40,000
HEADQUARTERS, ADMINISTRATIVE & MANUFACTURING LOCATIONS:
Well now that we have covered every press release they have come up with and one that was disclosed illegally that will be written in the future. We now want to take this opportunity to take you on a tour of NECO. Based on the most recent filing with the Securities Exchange Commission, we have two addresses for New Energy Corp.
4735 Clairmont Square or Clairmont Drive ( both are the same location )
#321
San Diego, California 92117
&
5580 Lajolla Blvd.
Suite 506
Lajolla , California 92037
sec.gov
We asked Lou of Magnum Financial Group to explain which address is which, he explained that the President Secretary, and other Executive Officers are located at the La Jolla Blvd address, while the Clairmont address is merely the administrative office where paperwork is shuffled and secretaries hang their coats. He also discloses Megawatt Energy’s phone number as 858-824-6512. They are located in Tijuana Mexico and have offices in San Diego as well, but he doesn’t have their address in San Diego.
Here is the complete conversation: ( all recordings were made on a multi-party conference call including participants residing in a one party state ,including staff of InsideTruth.com and Investigators from two other states)
mms://audio.anthonypacific.com/public/neco2.wma
( copy and paste in a browser and enjoy with a second martini)
Lets go ahead now and go on a road trip! First stop: We are in the mood to meet some hot babes at the administrative offices, something about sunshine, Boeing chips and Photovoltaic cells gets our juices flowing. So we all donned our Mr. T ensembles and hit the open roads of Southern California. 4735 Clairmont Sq & Drive here we come. Woooohoo!!!
insidetruth.com <--Bamm, we get to 4375 Clairmont Dr & Sq !! Yeah babay let the honey flow!!! Wait a minute!!!.... What a jip!! This cant be right, can it????
insidetruth.com <--- Whoooeeee!!! It is right!!!
The Administrative offices are located inside a Mailboxes Etc???? Well we better make sure, maybe they are a sub-lessee, lets go in and try to find Suite 321. Follow us.
insidetruth.com <---Damn its a 4" by 4 " suite, now I know I'm short, but dang I don’t think that even I can fit in this place...damn!!!
OK, screw it! lets go keep going, La Jolla is upscale and rich and so damn pretty my eyes hurt when I get near Prospect Street. Lets go see the Big Honcho boys, maybe they moved the hotties in with them and Lou simply ain’t in the loop of what Big Wig executives and Hot Secretaries do in San Diego. Lets Rumble on to Lajolla Blvd. As we approach, we park and we get excited, we can smell CEO odor and the rich smell of wood and leather mixed with photovoltaic pastries, yeah babay!!
insidetruth.com <---WATCH THIS
DAMN DAMN DAMN, I guess maybe the answers lie with Megawatt, so we pile back into the zero-bid mobile, insidetruth.com , and head to Megawatt, since Lou didn’t know where Megawatts address in San Diego is, we decided to find out on our own but first who are these guys ?
MEGAWATT ENERGY:
Who are these guys and what relation is it to NECO, a question that undoubtedly you are asking by now. Well we want to answer you, according to their most recent filing Megawatt Energy Corp. is a Strategic Alliance partner.
New Energy purchases HCPV Solar Generators from its strategic alliance partner, MegaWatt Energy Corporation. New Energy has a Joint Marketing Agreement with MegaWatt Energy to fulfill customer orders on a partial upfront payment and deferred payment schedule wherein the deferred payments are effected from the power purchase revenues derived from customers. New Energy effects the partial upfront payment from funding sources that advance the payment against in-place government rebates. New Energy sells the power to the customer and disburses a portion of the realized revenues to the funding sources and to MegaWatt Energy Corporation against the deferred payment schedule.
sec.gov
Back to our road trip !! Since Lou couldn’t tell us where they were we found them here:
kepler.ss.ca.gov
YEA HAW!!!!!! We are now in business!!! Megawatt Energy here we come !!!
Wait a minute, that’s the same dang address as NECO, oh wait a minute it is also the same home address as Tor Ewald, the Secretary who owns 16 million shares. Boy this really screws up everything. Guess we will have to move in to the neighborhood.
At times we get really lucky at times here at Insidetruth, we were able to move in and become NECO's neighbors, can you imagine being any luckier? Nah, we can’t.
insidetruth.com
OK, lets go to Mexico, and see the big operation, A quick check with Mexican authorities and government agencies reveals no such organization as Megawatt in Mexico, or Tijuana. I hate road trips that don’t end up with brewskies and loose hotties!! Now I’m pissed off.
PART 2: Will include a bevy of topics sure to make part 1 look like amateur playtime. We are only getting warmed up on NECO, it being a San Diego company allows us much time to explore dig, and uncover nuggets of info.
* Barclay Davis <---The convicted felon ( THINK SEXI & ATTEMPTED MURDER IN CONNECTION WITH SECURITIES FRAUD )
* Geneva Financial & Marcelino Colt<---NECO's Investment Bankers
* Don Nixon <-- The "noone knows who he is" nephew of our disgraced former Impeached President
* Megawatt’s 714 Connection
* Many Many Other avenues that we have explored: including the attempt to backdoor the California Energy Commission by fooling the Los Angeles Department of Power and Water.
Summary & Closing:
NECO is in our opinion a joke, a sham, an elaborately thought out scheme to use big name customers to drive the price of a worthless shell higher so Tor and his cronies can enrich themselves at the expense of Mom and Dad investor. We have much to say but will end by saying that a copy of this report is now in the hands of the SEC and the FBI.
InsideTruth.Com is wholly owned By Pacific Equity Investigations.
We have used information that we believe to be incredibly reliable and believe the above to be fact, however we are human and on a rare occasion we make tiny errors. However we stand behind every word above. If you believe that any information in any one of our reports is inaccurate or in need of correction , please contact us. You can earn $ 500.00 if we investigate your claim and we correct the report due to information you provide.
Pacific Equity Investigations is an equity valuation research center. It may and often does have positions that are consistent with its reports and are currently short this security and stand to profit when it finally implodes. Anthony Elgindy is a professional trader and analyst, and one of the most well-known investment commentators on the internet. His work has been featured in numerous financial news media. He has appeared on TV shows "20/20" and "Justice Files" speaking out to warn the public about the risks of fraud and overvalued equities. He is the #1 most bookmarked person on the #1 financial discussion site, Silicon Investor siliconinvestor.com , and he is known as the " Mad Max of WallStreet " by WIRED MAGAZINE, wired.com.
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