So, we have two LLCs, one owned by Don Gillispie, and the other owned by his daughter Taylor Gillispie, that together at the time owned 7,800,000 shares, or 31% of Alternate Energy Holdings, Inc. If you add in Don's personal 27% stake, we have at that time 58% of the company owned by Don Gillispie, his daughter Taylor, and two LLCs they owned.
But as we have seen in previous posts, both Grace Glens Consulting, LLC and IPO Assist, LLC show a status of "cancelled" according to the Commonwealth of Virginia's State Corporation Commission website.
The question then arises: What became of the assets of those LLCs, especially the 7,800,000 shares of Alternate Energy Holdings, Inc., after their registrations were cancelled and the companies ceased operations? In light of AEHI CEO Don Gillispie's claim that "...neither I, our CFO, board members, nor any officers who have day-to-day line responsibilities for running the company have sold a single share since the Company's inception...", it would be very interesting to know what became of the shares owned by the companies owned by the CEO and his daughter. And what became of the 4,149,999 shares Taylor Gillispie received herself as Secretary/Treasurer? Altogether, that is 11,149,999 shares of the company, which, at today's absurd price of .649 per share, is a cool $7.2 million. Who has them now? Who got, or gets these shares?
Then, we have the matter of this little acquisition, from November of 2007:
Alternate Energy Holdings acquires Freedom Energy Solutions (M&A)Alternate Energy Holdings, Freedom Energy Solutions
Alternate Energy Holdings, Inc. has formally acquired 49.1% of Maryland based Freedom Energy Solutions LLC with an option to take controlling interest. Freedom Energy Solutions provides green solutions to meet the energy and budget needs of businesses and homeowners by custom designing energy solutions that provide lifetime energy neutrality through a combination of clean energy sources (wind, solar, geothermal) and power management. Currently, Freedom Energy Solutions and the Maryland Energy Administration are planning an 88-acre renewable energy and environmental campus in Mount Airy's Windy Ridge Park in Maryland. (Source: Marketwire, Nov. 08, '07) Contact: Don Gillispie, CEO, Alternate Energy Holdings, email@example.com, http://www.alternateenergyholdings.com/, Freedom Energy Solutions, (410) 871-9020, firstname.lastname@example.org, http://www.freedomenergysolutions.com/
A search of the Maryland Secretary of State's website shows the registered agents of that now-forfeited company:
The company's initial 10-12g registration statement shows these owners and registered agents each receiving 75,000 shares:
Razzle. Dazzle. Baffle.
Repeat as Necessary.
Note: The other entries marked in the list above, Robert Sparrow, and A and A Development, were covered in previous blog entries.