The latest 10-Q from Alternate Energy Holdings is now out! As expected, the company continued to hemorrhage cash while posting obscene stock awards to what might be the most incompetent management team in the history of business. If you're looking to invest in a company that loses money faster than a sucker on the hook with a Nigerian Scam, this is the one for you.
Looking in the 10-Q for the company's take on the lawsuit they filed against UniStar? Quit looking. They didn't list it. They shout and shout about how people pick on them on the interwebs, writing complaints to every elected official under the sun, but when it comes to their five million dollar lawsuit against a legitimate nuclear company, mum's the word.
Funny how they consider $5 million dollars at risk in a lawsuit not able to "...materially adversely affect our business, financial condition, or operating results" when they only have $8 million in cash on hand and lose $1.6 million every three months. ($533,000 per month) At least, that's how they'd have to characterize it to meet the SEC's requirements for filing the 10-Q. If they read them. More specifics here.
More analysis tomorrow.
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Former AEHI CEO Don Gillispie
OK, everyone, I've got to step out for just a minute. I'll be right back, I promise!
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