I wonder what he was serving for to cover the $195.00 worth of food per person...lol what a shmuck Essary is...
**CEO Summit is $35.00 in advanced, $50.00 at the door to cover food, etc.
** S.E.C. Forum fee is $195 to cover food costs.
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$245 for 3 days of food per person. Those must be really fat cats.
After being exposed to Essary on the Internet before GIFS appeared here, I had an idea what he was about from watching the Waaco Kids Forum operate. They would take a position, then announce it on the Internet and then dump it, classic pump and dump. Essary would even say over and over, do not hold any of these stocks he was pumping! On the other hand, why was he even associating with GIFS?
While I didn't put my money into GIFS, I do feel a bond here because about 9 days after the SEC stopped trading of GIFS stock, they stopped trading of my stock which was GRNO. However, we who had stupidly invested money in GRNO felt very superior to GIFS because we took great pains to look into GRNO, even going repeatedly to Charleston, South Carolina, to check out the company and its product. The company claimed to be able to convert waste oils such as used lube oils into #2 diesel fuel and to do it in an extremely profitable way. We believed that story so completely that we not only bought the stock, we bought partnerships in the company's plant that actually operated on the premises. We felt superior because all somebody had to do who lived in the neighborhood of GIFS investments, such as the NASCAR store in Atlanta or the gold mine in the hills somewhere, was to drive out and look at them to see whether they actually existed or not. We on the other hand, drove the distances and actually saw our plant and watched it operate.
But there were problems with GRNO. My first inkling was just before the SEC shut down the trading. I learned from the CEO first hand that he had lied about something. That should have been enough for me to dump every share I could dump. But I didn't. The stock had been trading at 10 and was then at 5 and I still believed that GRNO was legitimate.
About a week after GRNO trading was halted, we attended a long scheduled stockholders meeting in Charleston. While an operating permit had been referred to earlier by GRNO, it turned out the permit was a 90 day temporary permit while they did final tweaking to prepare it for the permanent construction and operating permit. The lawyer handling the EPA regs for GRNO assured me to my face there would be no problem getting the permit right away. But when several months went by with no sign of a permit ever being granted, I talked to the woman consultant in charge of dealing with the details of getting the permit and she told me the previous consultant company had made a mistake and told the state permitting agency that the plant product itself was a toxic pollutant, not a valuable product. It wasn't until 1999, after we investors went to court to take over the plant operation that we learned the truth, that it had been a scam all along and it never was economically viable. It wasn't until less than a year ago that I finally figured out why. But most investors have never taken freshman organic chemistry and would not be able to figure it out on their own. The consultant had to have been fully aware she was covering up a scam. On the other hand, in those days we investors had no idea that the closer a consultant gets to knowing that an entity is a swindle, the more money the consultant is paid or is promised to be paid, the more the consultant is prostituting whatever reputation for integrity that person ever had.
The only real value of such an entity like GRNO has is as a vehicle to scam other investors. Over the years, we have seen so called prospective customers come and go. Sometimes they make very public statements, either to the press or on their own web sites, that seem to make the entities very legitimate but are known to GRNO investors to be lies. For example, there was an entity peddling private placement stock that referred to the GRNO technology as their own when they never bought the technology and had no right to make such statements.
When the SEC halts trading of a stock, it typically simply disappears. GRNO is unique in that it just keeps operating year after year. Although after the trading halt it went on the pinks, its stock theoretically still trades. To this day, there are still a few who post on the Internet that do not consider GRNO to be a swindle.
There have been variations of pitches over the years such as the story that there is this huge problem of tallow in England from cattle with mad cow disease. They don't know what to do with it so the story is that it can be disposed of by using the GRNO technology to convert it to diesel. The obvious question would be that if this tallow does exist and if the GRNO could safely convert it to diesel, why didn't they just burn the stuff years ago instead of storing it?
The latest pitch is a good one. There is this company that claims to have all these plants either running or in construction and they get their fuel using the GRNO process. But even their own web page can't even get their story straight. One URL says they have 6 projects, the other says 8.
energyservicestech.com
energyservicestech.com
The point of this pitch is that even though the GRNO process does not produce a diesel product a diesel engine can use, it won't matter in this case because the product will be burned immediately in a power plant. However, if you look at the trading in GRNO stock, absolutely nothing has actually happened to actually enhance the value of the investment.
pinksheets.com
Another approach to the value of this pitch is to do what GIFS investors should have done. That is, get in their cars and drive out to look at what is actually happening at the purported construction sites. Here is an example.
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FROM: Paintsville Herald, Paintsville, Kentucky November 23, 2001
Redbush power plant a step closer to reality
By Clyde Pack
Features Editor Despite a brief outburst of protests from several Redbush residents earlier this
year, Nov. 1, 2002, is now the target date for the opening of an energy-producing facility (fueled
by recycled oil) to be located about a mile off Route 172 on Elna Road.
appalachianfocus.org
Note the dates. This is supposed to be up and running now. But if you drive out Route 192 to Redbush and turn south on the road to Elna and drive 0.9 mile and stop and get out of your car, what are you going to see? I am saying all you are going to see is an abandoned strip mine!
A topographical map of the area shows the mountainous region it located in. At the upper left corner of the following map is the Elna road. At the bottom right corner is the town of Paintsville which has a rail yard where the waste oil will be brought into. From there trucks bring the feedstock to the plant, running an average of at least one semi an hour over the mountain roads.
mapserver.maptech.com
To conclude, what I have been saying is that any and all individuals who have anything to do with signing documents purporting to enhance the value of a scam are just as tainted as the original idea, regardless of what they hold themselves out to be. |
