A few interesting claims are made in the advertisement: (all emphasis added, except where noted)
"As an independent, privately owned enterprise, AEHI is building sustainable power today, while avoiding the bureaucracy and complacency which dominates the industry."
"In partnership with CNNC in China, AEHI is producing the world's first commercially available nuclear seawater desalination system"
"Be a part of it. Turn this page to learn about investment opportunities." (Emphasis in original- possibly an AEHI Truth First!)
"Green World Water, working in partnership with CNNC in China, is producing the world's first commercially available nuclear seawater desalination system. It creates large amounts of clean water and power at the same time. Our Nigerian office, Green World Water Africa, recently began production."
Note the constant use of the present tense, "is building," "today," "is producing," "creates." And "recently began production."
Compare that purposeful use of the present tense in advertising with the careful wording in their latest 10-Q (filed two days after this flyer was distributed):
"....is a development stage enterprise", ..."in the process of acquiring and developing a nuclear plant site..." But, according to the ad, "AEHI is building sustainable power today".
Bullshit. By their own admission, they aren't building shit....yet. Wait- maybe that's all they are building today- shit. Bullshit, that is.
Check out this doozy regarding the cockamamie Green World Water "enterprise":
"Through our subsidiary, Green World Water™ Inc., we are identifying opportunities in developing countries to construct nuclear power plants that will, as a byproduct of energy production, desalinate water and provide potable water to communities where potable water is not readily available. We expect to develop commercial nuclear reactors on oceanfront sites, particularly in Latin America and western-friendly Middle Eastern countries and Africa, to co-generate clean energy and desalinate water. We believe that we can utilize available nuclear technology to address electrical energy needs while simultaneously producing fresh water from ocean intake. The Company has signed an agreement with China National Nuclear Corporation, or CNNC, a state-owned enterprise in China relating to the production of desalinization reactors in China to market on a worldwide basis. The agreement grants AEHI, through GWW, rights to market desalination reactors (CP-W 650 and 1100) outside of China for 10 years in exchange for a commission of 2 to 10% depending on the final negotiated price. We have currently signed Memoranda of Understanding, or MOUs, with one international company in India relating to the commencement of discussions regarding the feasibility of desalination nuclear reactors. We have recently opened an office in Lagos, Nigeria to promote the sale of GWW products.
Ronald Reagan said it best: "There you go again."
Again, they aren't "producing" (present tense) anything-yet. They have "signed an agreement" to market these reactors, on commission- like a used car or insurance salesman.
Alert Readers should grab a pen, an envelope and a stamp- because that's the only way AEHI will let you see exactly what that agreement says:
From AEHI's 10-K, Exhibit 10.3: Agreement to cooperate in the development of Joint Venture Agreement with the Nuclear Power Institute of China. -12/12/09: Incorporated by reference from the exhibits included in the Company’s Form 8-K filed with the Securities and Exchange Commission dated December 17, 2009. A copy can be provided by mail, free of charge, by sending a written request to:
Alternate Energy Holdings, Inc., 911 E. Winding Creek Dr., Suite 150, Eagle, ID 83616.
As soon as the Dude can get a scanned copy, it will be posted here.
Check out the rest of that 10-Q statement above: "We have currently signed Memoranda of Understanding...relating to the commencement of discussions regarding the feasibility of desalination nuclear reactors."
What the f....?
They need a Memorandum of Understanding just to commence discussions? And these discussions are regarding the feasibility of such a thing?
According to the ad, they "are producing" something that "creates" clean water.
According to the SEC, they might be able to market such a thing, if it even exists, and may talk to some folks in India about its feasibility.
Which is it, Don?
Investors ought to know.