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Gold/Mining/Energy : Global Thermoelectric - SOFC Fuel cells (GLE:TSE) -- Ignore unavailable to you. Want to Upgrade?

To: Stephen O who wrote (5699)	11/5/2002 4:53:52 PM
From: the Chief	Respond to of 6016

Its just people venting Stephen, this company has said nothing, and said nothing for far to long. Perry was the problem, well the "problem left"...but it seems we still have a problem. Garrett made the comment that he would "keep sharholders informed" as some sort of peace offering. He failed to do so, then in the background filed for option repricing. So how are shareholders supposed to feel? Do we sit here and wait for the $100,000,000 to erode to nothing before someone says "gollie gee the thing don't work"?? If you pss away $16,000,000 of someone elses money and then announce an MOU as a "leap forward" you would be shot! Somehow GLE's propensity for reporting power has deminsihned as the shareprice has fallen back. They gave us updates to power while the shareprice climbed to the stratesphere....how nice for option holders! So the plain qustions that everyone should have answers to by this time go unanswered. We don't even know what GD market they are after, what size of units they intend on concentrating on, or if they have been successful in size reduction. Why? So far many in the company did very well with their options, did they deserve the options? How the hll do we know. Do they deserve to have the old options repriced as they just did? What "benchmark" of progression in this company do you use? So far, I have not a clue whether their SOFC is more efficient or less efficient than FCT's/Siemens unit. I have no idea whether their SOFC is better power generating unit than a Ballard PEM, why is that? They know how other companies measure their power out, so why not furnish us with a vaild comparator, so that as they pss away the $100,000,000 .......that we get a warm fuzzy feeling we aren't getting scrwed! Are they a World Leader in SOFC development? Who told them that ? Who says they are "world leaders at all? Are they leading in Co-Gen development....don't know, others have functional units, we do not..is that still a world leader? I asked Mark Kryzan why he put "World leader" on their NR"S, he said he had "no problem saying that". I'd really like them to tell me why they think they are a world leader! Is it because they are a World leader in "planar SOFC's? Whooooooppppppeeeee, who the hell cares if the "world leader" can't get them to work long enough to make them viable as a Co-Gen unit! They can lead the world all the want, if its an "Edsel", nobody will want ti!

To: Stephen O who wrote (5699)	11/5/2002 5:08:32 PM
From: Vitalsigns	Read Replies (1) \| Respond to of 6016

With all these Carrots being strung out on Sticks to keep shareholder focus away from the immediate concerns and push them back into the future does not help clear any analogy to a brex. Case in point, when asked when numerous MOU's were signed when they would be turned into definite deals, the answer was " we expect them to come to fruition within the next few months". that was 1 year ago. 9 months after the fact , we find out that there may never been intention to convert those deals within said specified time because now the party line is " it is best to sign these deals when we have a product". Time and time again under the OLD leadeship were we given time lines , false promises , and silence to shareholders while larger shareholders sold out . Now we are getting word that the game plan is once again changing and no one knows what is going on anymore . Yet still no product. The latest under new management , trying to make things new, only to find out he is apparently cut from the same cloth as his predecesor , Peter touts a plan just after being sworn in to amplify the communications to investors , and to give him until the Fall to show what he has. Tick tock , nothing yet . Then in another conference call he states that a Mid Sept update would come out with timelines, then the next day south of the border he mentions a Mid Oct update. On both counts , he failed to follow through on his first promise and still no product. In a recent email reply from Mark Kryzan by another Shareholder we get this back from GLE : Subj: RE: World LP Gas Association Forum Date: 11/4/02 10:36:51 AM Central Standard Time From: mkryzan@globalte.com (Mark Kryzan) To: Aberacine@cs.com No we did not exhibit. We do not need additional "customers" at this time as we do not have a product. We have the U.S propane industry as a partner/customer through PERC in addition to Suburban and Superior as direct participants. When we successfully develop and then demo a product that works, meets performance specifications and is competitively priced, customers will, in our view of the world, line up. Signing up partners, many of whom have fairly short time horizons, to a fairly lengthy development partnership, is neither desirable no a fruitful use of our time just now. Few are interested in any case, and the terms are generally not favourable to Global. Mark Kryzan Director, Corporate Affairs Global Thermoelectric Inc. (403) 204-6113 web site: www.globalte.com The carrot is constantly dangled in front of shareholder eyes , yet no product is the party line , and promised communications are empty promises. Doesn't leave one with a good first impression of Peter Garrett and team. The share price is here for a reason , and will likely stay here for a long time until GLE can dispell it's bad image , which leaves many feeling suspicious.