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Microcap & Penny Stocks : ComGen Corp (CGEE) -- Ignore unavailable to you. Want to Upgrade?

To: sks1 who wrote (14)	12/8/1998 1:58:00 PM
From: Larry Panik	Read Replies (1) \| Respond to of 121

Thanks for the info. Does this change your outlook of the company? Is there anyway to verify this info? Larry

To: sks1 who wrote (14)	12/12/1998 12:21:00 AM
From: Norman H. Hostetler	Read Replies (2) \| Respond to of 121

Re: ComGen operations in Poland and Australia. The following is hearsay, but it comes from a source I have known for several years and trust. This person has connections in various aspects of oil, including waste oil, and also in international oil operations. The individual called three contacts in Poland with knowledge of waste oil business and one in Australia with knowledge of waste oil business there. In all four cases, the contacts stated that they had never heard of this company nor of any company or person in their countries turning waste oil into diesel fuel, certainly not in any commercial sense. It is inconceivable to me that there could be eight facilities in Poland with "42 key employees" supported by these processors which nobody else connected with waste oil in Poland has ever heard of. Of course, the release does not actually _say_ that the "facilities" are processing waste oil, nor is there the slightest hint regarding the size of production or profitability of these processors. To be generous, I suppose there could be eight bench models in the labs of some company connected with a "primary customer" whose other business has grown from a one-man operation to eight facilities and sufficient wealth to award vacations in Cyprus to 42 people. But that would be nothing close to the commercially viable operations of waste oil processors that the "example" seems to imply. This thing stinks to high heaven. The meaning of the "newsletter" you quote disintegrates upon close analysis of the diction and syntax (language and structure) even without reference to other sources. There is not a single piece of verifiable data in this piece about the "19 plants sold, manufactured and installed." Apparently, none of the posters here can find out anything concrete about the financial structure of ComGen or any of its supposed partners. About the only thing that I would ever consider doing with this stock is short it, while I wait for the slow-as-molasses and often-misguided SEC to get around to pricking its bubble. The only commercially viable processor for turning waste oil into diesel fuel that I know of is the one owned by Green Oasis Environmental (the GRNO thread on SI has over 10,000 posts, but it is one of the most informative threads I have seen, and worth the reading, even though some of the posts are mine). I have seen the processor work in test runs, and the US Government issued process patents in September of this year. Financial and legal problems have slowed development over the past seven years, but most of these appear to be cleaned up. Commercial operations are likely to begin at the Charleston, SC, site sometime after the beginning of the year. Construction has just begun on a joint venture manufacturing and operations site in Qingdao, China. The current machine is designed to turn 550 gallons of waste oil per hour into about 400 gallons of #2 diesel, about 115 gallons of #5 fuel oil, and about 45 gallons of light ends that are used by the processor for its fuel needs (note to the arithmetically adept--the cracking processes expands the volume of the product relative to the feedstock). It is expected that it will be upgraded later next year to produce about 1000 gallons of #2 diesel per hour from 1375 gallons or so of feedstock. It is expected to operate 24x7 with no more than 5% down time during the year for maintenance, repair, etc. PLEASE NOTE: I HAVE INVESTMENT INTERESTS IN GREEN OASIS. And the company is still in very poor financial shape and may not have sufficient capital for operational start-up costs should any problems arise. It's a suitable investment ONLY for people who can tolerate extremely high risk and the possible loss of their capital. But if you're seriously interested in doing something about the waste oil pollution problem--and in a profitable manner to boot--I suggest you look further into Green Oasis. =+=+=Norm Hostetler