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Microcap & Penny Stocks : Biosafe International, Inc [BSFE]
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To: Audun Narvestad who wrote (8)8/12/1996 6:07:00 AM
From: DCBEN   of 280
 
Audun, There apparently was a mixed decision on Fairhaven on Friday. The New Bedford Paper (SE MA) had an article on Saturday that was short on detail, long on tradtional anti-Biosafe venom. The gist is that Biosafe was given Authorization to Operate (ATO), but only for 150 T/Da., not the full 400 they had filed for. Other restrictions include requirement that they establish a soft layer at the bottom of cell 1 before depositing construction waste, etc. (to protect the lining). (No big deal, I think, should take a week).

They are allowed to begin construction of second cell, but must reapply for ATO for full 400 T/da operation.

I hope we'll get the company side of the story today. Can't help but think this was expected in that I heard a guarded report (my broker talked to Bob Pragg at Liviakis last week) that Biosafe could still turn around and operate in the black with only the Mooretown project and Fairhaven at 150 T/da.

This, I think, should be seen as another foot in the door (or the nose sticking father into the tent--if you prefer that metaphor). We're going to expand a bit slower that we thought, but once the technology and procedures are established, grow we will.

Let me know if you get news from the company. Can't monitor closely today,
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