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

To: ddl who wrote (5710)	11/6/2002 3:03:15 PM
From: ddl	Read Replies (2) \| Respond to of 6016

This company better shape up real soon. I'm backreading and finding statements that basically say "We have a working fuel cell now, one that is ready for commericalization....period" So far... from 2001 Management discussions and Abnnual Report.... ------------------------------------------------------- For the year ended December 31, 2002,the company expects fuel cell commercialization expenses of $25MM to $35MM, in addition to capital expenditures listed below." What's that telling you? But in the same breadth, they say... "To achieve these objectives, further advances in its SOFC technology are required." How can they say we expect to spend $25MM on commericalization, when development is not yet complete? --------------------------------------------------------- 1999 - GLE receives $1.3MM fuel cell stack order from Delphi. If, as we were told by the last e-mail from PR... "We do not need additional "customers" at this time as we do not have a product. is true.... Then why did we sell a product to Delphi? Did we have a product then to sell, and we don't now? --------------------------------------------------------- 2001 - GLE's succesfull testing of other residential and remote power systems. According to management discussion they appear to define successfull testing as... "The ability of the company to successfully achieve the commercialization of its technology is largely dependent upon it successfully meeting its technology and cost objectives". So tell me, is the "successfull testing of other residential units" not the same as "successfully meeting its techonology and cost objectives"? What is the real definition of a successfull test? --------------------------------------------------------- There's lots more double talk, but you guys get my drift... I'm really ticked now that I'm looking at this from a different perspective.