fuelsaving wrote:There is an amusing "interview" with Enrique at
http://www.redchip.com/visibility/inves ... rom=pr0426. It sounds to me like basically paid advertising, since the interviewer conveniently fails to ask any awkward questions and accepts Enrique's bulls**t at face value. Interestingly, Enrique claims that the big loss in 2006 was just a carry-forward of old Victor Industries losses, for tax reasons. To me, that doesn't fit the definition of "business consulting fees" in the 10K.
Enrique also claims that their new miracle engine will only use 1% as much fuel as current engines. Since current engines are typically 25% efficient, that implies an efficiency of 2500% - which violates the Second Law of Thermodynamics at the very least.
Unfortunately the investor presentation video of the Red Chip Investors Conference in Phoenix (Feb 2007) is no longer available online. However, Enrique was in fine b.s. form. Some highlights were:
1. He says that based on contracts in hand, EEI would do $120 million in 2007
2. He says that EthosFR is presently in HALF the fuel supply in Africa
3. He says that EthosFR is being used to significantly reduce greenhouse gases in Beijing
EEI's second quarter financials were released and 89% of all revenues were generated through sales to Ecquador. Not China, Not USA and Not Africa.
EEI reported 'contracts pending' worth $16 million. Yet in February Enrique said he had contracts for $120 million. Where is the missing $100 million?
Plus, Enrique has a contract in-hand for $2 million with Nigeria, but his financials show almost nothing presently sold to Africa. How in the hell can EthosFR be in half of Africa's fuel supply with little or no product sold there???
Furthermore, once again we see ZERO evidence of any significant sales to China/Beijing. For a guy who claimed sales of $7 million a month to China, one can only assume the boats sunk.