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Microcap & Penny Stocks : Biosafe International, Inc [BSFE]
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To: A. F. Brooks who wrote (11)8/12/1996 10:04:00 PM
From: DCBEN   of 280
 
A. F. Brooks: Nice to here from you! I looked over the earlier Biosafe thread and see that I should have written to you earlier. The first Fairhaven cell is certainly capable of holding 400 T/da, it would just fill up 2 and 2/3 times faster. Actually the issue, I think, is largely a political one for the Massachusetts Department of Environmental protection. There is a group of some nine households in Fairhaven who have been extraordinarily vocal in their opposition to the Biosafe contract. They have the support of reporters at the Boston Herald and some other local press, and they have the support of at least one State Senator. DEP is under pressure to be extremely careful and be sure that every objection is considered and dealt with. They are being far more stringent with Biosafe than with other landfill operators in the State. I think what we have in this decision is another bending over backwards to force Biosafe to meet every possible concern. In the long run (as long as Biosafe can stay solvent and avoid having to do much more equity financing) it may be for the best. The company will eventually fill all the cells, the later they are filled (given inflation and the growing scarcity of close-in landfills) the larger the tippage fees they can collect, the more money they will make over the life of the project. MA is a very tough state for a startup company. But as the song says about another locale, if they can make it there, they can make it anywhere. I am, in short, still hopeful; and bullish. I averaged down last week with a small purchase at $1 9/16. Now my average cost per share is under $4.
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