Mike,
I appreciate your reply to Larry Ricker regarding the Wall Street Journal article today. I have a few questions for him and his partners. First of all I would like to ask a question to Gary. You were praised by Paul Richards about your foresight in seeing the demise of Solv-Ex. Have you warned Shell and Mobil about the potential problems they face with a very similar process to that of Solv-Ex? If so, what did they say?
For you Barb, I haven't been able to find any warnings on the big oil companies threads that you will see them at $.02 if they embark on a process similar to that of Solv-Ex. Why will their processes work for them and Solv-Ex's process not even have a chance?
For you Larry, you have been praised by one of your former students. You also have a PhD in chemical engineering from what I understand, which is also a plus in my book, because I have a BS in chemical engineering. However, what is your background in oil sands extraction? What physical tests have you done on Solv-Ex's process to convince you that it doesn't work? Does the pilot plant not work? If it doesn't, when did you do the analyses? Did John Rendall simply not believe your results, or is he an idiot? Has anyone ever invested millions of dollars in a plant that you said would work, simply because it worked on paper, and if so, when? You cited an article from Barron's on Sunday. Please explain to me why Barron's would devote so much space to a company that has a market cap of less than 25 million. Is it to save investors in case they would recklessly invest a dollar a share in Solv-Ex? Have you ever in your life seen a publication as big as Barron's ever bother to write a negative article about a company with such a small market cap? Please remember in your answer, that John Rendall and a few others own millions of shares of the stock, so the real potential loss to the public is much less than that. Why would they even bother to write an article for a 25 million dollar company, when for example, Microsoft lost over $9 billion today alone in market cap? (By the way, in Barb's estimation, the company is only worth $500,000. I am not even sure that one could buy the space devoted to the Solv-Ex article for that price.) Who can figure? Actually, I was delighted that Barron's took the time and effort. There must be something there that scares them.
I think all of my questions are fair. I basically would like to know where all of you have earned the right to say what you do. I would sure like to have some answers although I am not holding my breath. Have a wonderful day all of you!
Mark |
