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Microcap & Penny Stocks : ECO2 INC. (NASDAQ:TIRE) -- Ignore unavailable to you. Want to Upgrade?

To: Michael Klausner who wrote (2645)	2/16/1999 11:47:00 AM
From: Mahatmabenfoo	Read Replies (1) \| Respond to of 2695

> their PRs read just like Ledford's to the "t." > claim a l"letter of intent" from the N.J. Economic Dev. Agency >"byproducts" from the process. Well, it might be Ledford -- and the possibility is fascinating, making him like a fairytale gremlin who pops out of rotten logs for the past 1000 years, always in a new shape and new name.... But it could be legit. There even was a time when Ledford might have been legit -- his patent is real, and my guess is that not all of Ledford's letters of intent were frauds. One -- I forget the name of the company -- was with a domestic company that had many dump sites, and the plan was for Ledford to put one of his machines at each one. I think the dump site company, at least, was real, and why they backed out was never clear to me (maybe Ledford's machines couldn't pass tests, or maybe his books didn't look right). And some of the similarities might be connected with Pyrolysis itself, which in fact breaks down rubber and produces sale-able by-products. Lots of companies have tried the ECO2 idea, which is what made it so plausable (us investors were not completely crazy) as to which, see the excepted articles below. But when Ledford started claiming contracts with the Vatican, and Russia, and when he started branching into weird sidelines (jet skis and movies and faucets) then he moved from struggling startup to poet and artist (specifically a con artist). I would be more doubtful about this new company you mention if they were based in Florida, which (because of its generousity to the personal property of con men down on their luck) seems to be the home to more than the usual number of frauds. - Charles ======= Excerpt ========== Crain Communications, Inc. Rubber and Plastics October 20, 1997 HEADLINE: PYROLYSIS CAUSES COMPANIES HEADACHES BYLINE: Miles Moore Rubber & Plastics News Staff Various companies have tried to commercialize pyrolysis--the process of heating and breaking down tires into their component oil, steel and carbon black--even after a damning report from Goodyear in the early 1980s. The Goodyear study, which covered the operations of a pilot pyrolysis plant, estimated it would take a pyrolysis facility 9.3 years to pull itself out of the red. ====== EXCERPT ===== Rubber and Plastics May 26, 1997 There are a number of pyrolysis systems in the tire recycling industry, and the pyrolysis process has both skeptics and supporters. Several entrepreneurs and investors have considered setting up pyrolysis plants--and a few units in North America are up and running. Skeptics claim the expense of the system and low-grade quality of the oil and carbon byproducts don't make the process economically feasible.