"Regarding the company's shares, Oakley stated: "I was really upset when I saw the illegal shorting of AEHI shares incited by lies in a publication. One of my greatest concerns is the hateful things some shorters engage in to artificially make a stock's share price go down so they can make more money when they cover their shorts. Fortunately, a highly respected news source, Pinnacle Digest ( www.pinnacledigest.com), came to the rescue." In his column Mr. Oakley provided excerpts of Pinnacle's investigative report on AEHI, which takes a very strong and positive position about the future of AEHI. As examples:" http://www.tradingmarkets.com/news/press-release/aehi_aehi_geyie_pinnacle-digest-alternate-energy-holdings-will-likely-benefit-from-november-elections-global-energ-1254505.html
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U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 21783 / December 16, 2010
Securities and Exchange Commission v. Alternate Energy Holdings, Inc., Donald L. Gillispie, and Jennifer Ransom, Defendants, and Bosco Financial, LLC and Executive Energy Consulting, LLC, Relief Defendants, Civil No. 1:10-cv-00621-EJL (S.D. Idaho, filed December 16, 2010)
SEC BRINGS FRAUD CHARGES AGAINST IDAHO NUCLEAR POWER START-UP
The Securities and Exchange Commission today charged a self-described power company in Idaho with fraudulently raising funds for a $10 billion nuclear power project. The SEC is seeking an emergency court order to freeze the assets of the company and two executives.
The SEC alleges that Alternate Energy Holdings Inc. (AEHI) has raised millions of dollars from investors in Idaho and throughout the U.S. and Asia while fraudulently manipulating its stock price through misleading public statements that conceal the secret profits reaped by its CEO Donald L. Gillispie and Senior Vice President Jennifer Ransom. Gillispie has touted the company as a tremendous investment opportunity that could rival Exxon Mobil in profitability, despite the fact that AEHI has essentially no revenue and minimal operations.
The SEC suspended trading in AEHI stock earlier this week.
According to the SEC's complaint filed today in federal district court in Boise, AEHI's fundraising was facilitated by a scheme to drive up the company's stock price, both through frequent press releases (at least 87 in 2010 alone) and efforts of paid stock promoters to manipulate the stock price. The SEC alleges that the company has made multiple misrepresentations, including claims that its executives had such confidence in AEHI that they had not sold a single share of company stock. Records obtained by the SEC show that Gillispie and Ransom have instead secretly unloaded extensive stock holdings and funneled the money back to Gillispie.
The SEC's complaint also alleges that AEHI reported to the SEC and investors that Gillispie's compensation was $133,000. However, Gillispie has actually reaped approximately six times that amount in 2010.
The SEC's complaint charges AEHI with violating Sections 13(a) and 17(a) of the Securities Act of 1933 (Securities Act) and Rule 13a-11 thereunder and Section 10(b) of the Securities Exchange Act of 1934 (Exchange Act) and Rule 10b-5 thereunder. The SEC's complaint also charges Gillispie with violating Section 17(a) of the Securities Act, Sections 10(b) and 16(a) of the Exchange Act and Rules 10b-5and 16a-3 thereunder and with aiding and abetting violations of Section 10(b) of the Exchange Act and Rule 10b-5 thereunder. The complaint charges Ransom with violating Sections 10(b) and 16(a) of the Exchange Act and Rules 10b-5 and16a-3 thereunder. The complaint names as relief defendants two companies controlled by Gillispie and Ransom (Executive Energy Consulting LLC and Bosco Financial LLC). In a motion filed simultaneously with the enforcement action, the SEC seeks emergency relief for investors including an asset freeze and a temporary restraining order enjoining the defendants from further violations of the securities laws.
The SEC's case was investigated by Kristin Waldron, David Berman, Heather Marlow, and Tracy Davis of the San Francisco Regional Office. The SEC's investigation is continuing. The SEC acknowledges the assistance of the Idaho Department of Finance and FINRA in this matter.
http://www.sec.gov/litigation/litreleases/2010/lr21783.htm
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Pinnacle Digest: Alternate Energy Holdings Will Likely Benefit from November Elections, Global Energy and Water Crisis, says Wal
Posted on: Mon, 25 Oct 2010 12:09:13 EDT
Symbols: AEHI
Oct 25, 2010 (M2 PRESSWIRE via COMTEX) --
Alternate Energy Holdings Will Likely Benefit from November Elections, Global Energy and Water Crisis, says WallStreetCorner.com
Alternate Energy Holdings, Inc. (OTCQB: AEHI | PowerRating) (www.aehipower.com), which develops and markets innovative clean energy sources, is "positioned to be a successful emerging growth company because after the November elections, the next U.S. Congress, newly-elected governors and state legislatures are predicted to be more favorable to helping the U.S. nuclear power sector grow, ushering in a new pro-nuclear power era. The global scarcity of water and energy is another reason why AEHI will certainly prosper and prove to be a winner in the years ahead," stated Larry Oakley, Editor and Publisher of WallStreetCorner.com (www.WallStreetCorner.com) in a special situation column, "Larry Oakley's Comment," published today. The South Carolina-based international investment newsletter is distributed to investors in 96 countries.
"AEHI, based in Boise, Idaho, is the nation's only independent nuclear power plant developer seeking to build new power plants in non-nuclear states. The company's plans bode well for the nuclear power industry. Our government has become quite favorable to expansion of nuclear energy. With the November elections coming soon, both Republicans and Democrats in the House and the Senate want to put forth their approval of power from nuclear plants. I see a rather strong shift to nuclear power. There has also been a new wave of investor interest in companies associated with nuclear power. AEHI, in my opinion, will profit greatly from the present awareness of the advantages of nuclear energy," stated Oakley.
On a global basis, Oakley discussed the company's Green World Water(TM) subsidiary (www.GreenWorld-h2o.com), which is marketing the world's first large commercial nuclear desalination reactor produced in China that have the ability to create large amounts of clean water and power simultaneously to meet the needs of entire communities. He cited a recent UN report indicating that shortages are already beginning to slow economic growth everywhere from California and China to Australia and India.
Oakley noted that AEHI's CEO Don Gillispie views the global crisis as "bringing opportunities for companies like AEHI. The innovation and ingenuity of the private sector can solve this looming global problem - and make money for investors."
Regarding the company's shares, Oakley stated: "I was really upset when I saw the illegal shorting of AEHI shares incited by lies in a publication. One of my greatest concerns is the hateful things some shorters engage in to artificially make a stock's share price go down so they can make more money when they cover their shorts. Fortunately, a highly respected news source, Pinnacle Digest (www.pinnacledigest.com), came to the rescue." In his column Mr. Oakley provided excerpts of Pinnacle's investigative report on AEHI, which takes a very strong and positive position about the future of AEHI. As examples:
o "To be frank, we've never come across a public company of its kind. Imagine an independently-owned power producer using nuclear and renewables to offer affordable energy solutions at a time when some of our biggest producers of power are dwindling due to environmental concerns. Because of its independence, AEHI has the potential to raise the money to build plants; they do not have to rely on rate payers, which only increase the cost of power. It's an investment opportunity we wanted to be involved with upon completing our due diligence."
o "Our crew thoroughly investigated AEHI and every person on AEHI's Board of Directors. By the way, so has the U.S. Government (as all of these people have worked prominently in the nuclear industry) and so have many international governments; many that have an interest in the work AEHI is accomplishing with renewable energy, nuclear power, mini reactors and nuclear desalination. Just look at the pedigree of one of its management team."
o "With over 45 years of experience in construction, operations and maintenance of nuclear power plants, AEHI's CEO, Don Gillispie, is someone we were willing to bet on when we invested in this company."
Oakley pointed out in his column that AEHI's nuclear power plant, to be built in Payette County, Idaho, has "the personal approval of 80 percent of the population in the area." He also noted the U.S. Nuclear Regulatory Commission has officially recognized the plant, which is expected to be operational in 2018.
"AEHI is headed for a very positive growth spurt. The company [plans to] build the first independent nuclear plant - the rest have all been built and operated by utilities, which are regulated [by state utility commissions regarding cost of power]. An independent nuclear plant of say 3,000 megawatts capacity, like the one planned by AEHI, would not be regulated. AEHI's plant might well have annual pretax profits in the $3 to $4 billion range. Multiply that by future additional plants and the numbers get interesting."
Note: The views expressed by Mr. Oakley are his own and he has never received any compensation from AEHI.
About Alternate Energy Holdings, Inc. (http://www.aehipower.com) -- Alternate Energy Holdings develops and markets innovative clean energy sources. The company is the nation's only independent nuclear power plant developer seeking to build new power plants in multiple non-nuclear states. Other projects include Energy Neutral(TM), which removes energy demands from homes and businesses (http://www.EnergyNeutralinc.com) Colorado Energy Park (nuclear and solar generation), and Green World Water(TM), which assists developing countries with nuclear reactors for power generation (http://www.GreenWorld-H2O.com), production of potable water and other suitable applications. AEHI China, headquartered in Beijing, develops joint ventures to produce nuclear plant components and consults on nuclear power.
Safe Harbor Statement: This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words "believe," "expect," "anticipate," "project," "target," "optimistic," "intend," "aim," "will" or similar expressions are intended to identify forward-looking statements. Such statements include, among others, those concerning our expected financial performance and strategic and operational plans, as well as all assumptions, expectations, predictions, intentions or beliefs about future events, including our ability to list on a national securities exchange. These statements are based on the beliefs of our management as well as assumptions made by and information currently available to us and reflect our current view concerning future events. As such, they are subject to risks and uncertainties that could cause our results to differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, among many others: our significant operating losses; our limited operating history; uncertainty of capital resources; the speculative nature of our business; our ability to successfully implement new strategies; present and possible future governmental regulations; operating hazards; competition; the loss of key personnel; any of the factors in the "Risk Factors" section of our Annual Report on Form 10-K for the most recently completed fiscal year; and any statements of assumptions underlying any of the foregoing. You should also carefully review the reports that we file with the SEC. We assume no obligation, and do not intend, to update these forward-looking statements, except as required by law.
The information contained herein is not guaranteed by Pinnacledigest.com to be accurate, and should not be considered to be all-inclusive. This article may contain forward-looking statements that involve risks and uncertainties. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities.
Pinnacledigest.com is not a licensed broker, broker dealer, market maker, investment banker, investment advisor, analyst or underwriter. PinnacleDigest.com has been compensated a cash fee of $150 to disseminate this release by Alternate Energy Holdings Inc. PinnacleDigest.com's employees own shares of Alternate Energy Holdings Inc. and may purchase more shares without notice. PinnacleDigest.com's employees may sell all of their shares in Alternate Energy Holdings without notice to its subscribers. They intend to sell every share they have purchased for their own profit. Please consult a broker before purchasing or selling any securities viewed on or mentioned herein.
Pinnacledigest.com will not advise as to when it decides to sell and does not and will not offer any opinion as to when others should sell; each investor must make that decision based on his or her judgment of the market.
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This release contains forward-looking statementsa within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statementsa describe future expectations, plans, results, or strategies and are generally preceded by words such as may, future, plan or planneda, will or should, expected, anticipates, draft, eventually or projected. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a companies annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission.
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