Repost of mickeynu: phone conversation on other details :
Posted by: mickeynu
In reply to: None
Date:6/5/2007 2:20:23 PM
Post #of 45053
OK...first things first...All I'm providing here is what John Rivera just told me himself...because I just got off the phone with him...believe it, don't believe it...Up to you...
1) The Biocentric deal is the result of 7 months of negotiations
and testing...This is a 70(USSE/SSTP)/30(Biocentric) split
on profits...The existing Iowa plant is an already running
30 million gallon facility...the new facility to be erected
on the same site will be a 100 million gallon facility...
Biocentric built Freedom Fuels 30 million gallon plant in
8 months (and he told me it normally takes more than double
that time by industry standards)...
2) The four tubes in Natchez are complete. They are going to
be shipped by barge to the Iowa plant and according to JR,
they are making those arrangements now. Another 50 are to
be constructed at the Iowa plant by October 15th...
3) Long term contracts are already in place by Biocentric/
Freedom Fuels for every gallon of biofuel produced (i.e.
biodiesel, ethanol, E-diesel)...
4) They shipped 1,000 gallons of cellulosic ethanol to the DOE
last Friday for testing to get approved for the Blender's
Credit from the government for producing cellulosic ethanol.
JR told me he expects to hear back from the DOE by Monday.
5) The Illinois Biofuels deal is tabled for now...JR told me
they wanted USSE to put up $1.2 million for the property
that came in appraised at $ 200K...he didn't think that was
a wise investment...
6) They just shipped first tanker of fuel from Houston to a
tugboat company that has 400 tugboats...JR's comment was
"we are profitable as of today"...
7) Told me they have been generating power using the biofuel in
Natchez for months using generators...
8) Told me they have been running the reactor continuously for
7 mos./3 weeks...no problems...
9) Kelmer Smith is still running SSTP...
9) Targets SSTP for Bulletin Board within the next few months..
USSE will be next up, but expects it will take more time..
(My note: I guess that's why SSTP is first)
10) Apparently, according to Rivera and Paisano (from Redwood),
there are dozens of PRs to be released in the next few
weeks....
My aim here is not to pump USSE/SSTP...my aim is to share what information I just got from Rivera (who is in CA at Redwood today)....
As Dr J (Jon Najarian) always says..."it's your money...you have to decide what to do with it"...
Set your desire to Eternal Riches, the true riches.
