An unauthorized collection of the records of Alternate Energy Holdings, inc., its principals and subsidiaries, and their antics, trials, and tribulations

Former AEHI CEO Don Gillispie

Former AEHI CEO Don Gillispie
OK, everyone, I've got to step out for just a minute. I'll be right back, I promise!

Tuesday, November 2, 2010

AEHI Withdraws Previous Agreement With Source Capital Group; Signs $150 Million Funding Commitment With Roswell Capital Partners; UFO Reports Unconfirmed

Alternate Energy Holdings, Inc, in a continuing demonstration of the depth of commitment and loyalty of the Company and its CEO Don Gillispie, suddenly and inexplicably (wink) dropped Source Capital Group like a hot potato and announced a "funding commitment" with Roswell Capital Partners instead.
Reports of UFOs orbiting the scene of the signing ceremony remained unconfirmed at press time.

This part of the announcement has so many qualifiers, limiters, and escape clauses, it's hard to see how it means anything at all:
"Roswell has committed to purchase through one of its affiliates, subject to certain conditions and limitations set forth in the closing documents, including but not limited to the requirement for an effective registration statement and limitations based upon the trading volume of AEHI’s common stock for cash consideration, up to an aggregate of $150 million."

Through one of its affiliates. Subject to certain conditions and limitations. (Which will only be available when AEHI gets around to filing the 8-K.) Requirement for an effective registration statement.  Limitations based upon the trading volume. Up to 150 million.

Sounds more like the tail end of a car dealer's ad:  "onapprovedcreditnoteveryonewillqualifyseedealerfordetailslimitedtostockonhandnotincludingtaxtitleanddealerdocfeeof129.99"

Roswell's explanation of an "equity funding facility".

This statement has a hints at the timeline Roswell may have in mind:
Paul Gorski, Senior Investment Officer at Roswell added, "We are very excited to be working with AEHI and look forward to providing them with the necessary capital and support to achieve their potential in the coming years."


1 comment:

  1. As far as I can see, AEHI did not file an 8-K as required by the 33 and 34 Securities Acts. Additionally, they made no mention whatsoever in their just filed 10-Q. These would be deemed material agreements in the real world.