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!

Thursday, November 18, 2010

Navigating the DonSpeak, Part III: Water, Water, Everywhere?

"Nor Any Drop To Allocate"

DonSpeak from AEHI's annual report (SEC Form 10-K) filed March 31, 2010:
From page 8, "The Site": (regarding the Payette property)

"The features of the site include:
-about 5,000 acres near Payette, Idaho near the Payette River;
-located near, and has ample rights to, a source of water;"

The truth:
The site is actually five miles away from the Payette River, which, when talking about real estate and nuclear power plants, hardly qualifies as "near".

The company's claim that the site "has ample rights to a source of water" seems to contradict the Idaho Department of Water Resources', March 26, 2010 letter to AEHI's consultant regarding the property location:
"There are no recorded water rights for that section"

The property does come with 88.9 shares of irrigation water, but that does not equate to a right for a fixed amount of water, but rather 88.9 shares of whatever amount of water is available for the Little Willow Irrigation District to allocate at it's March board meeting each year. According to the letter from the Irrigation District, "When that allocation is used completely, the water to that property is turned off."
UPDATE:  AEHI's shills at Pinnacle Digest published a Q and A session with Don in which he attempted to answer a question about water rights:
Q:  What are the price of water rights needed to float this project, is there any income attached?
A:  Existing water rights will primarily come with the property purchased for the project.

Whatever, Don.

To Recap:
Statement in SEC filing available to prospective investors:  The property has ample water rights.

Pinnacle published "answer to college student:  "water rights will primarily come with the property"  Although meaningless, that "answer" gives the gullible the average day-trader the impression that there are sufficient water rights for this project attached to the property.

Letter they had from the IDWR about the property: There are no recorded water rights.

"Someone has to hold them accountable."- AEHI CEO Don Gillispie


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