We Don't Need No Stinking Giant Mirrors

| 21 Comments

HAHAHAHAHAHAHA!

Solar Hydrogen Energy Corporation, a Saskatchewan solar power company that raised $20 million in cash and kind from 1,100 investors with a promise to change the world, is now under scrutiny by Saskatchewan's securities regulator and under pressure from investors.

You coulda saved yourselves. You coulda been reading SDA.


21 Comments

One born every minute.

Maybe we should harness all the Hot air coming from the mouths Al Gore,Barack Obama the United Nations and those Greenpeace trouble makers

Solar power in Saskatchewan. A province that has 15+ hour long nights in the dead of winter where the temperature routinely drops to 20 degrees or more below freezing. Fat lot of good solar panels will do you then.

There is simply NO viable case for investing in solar power in this country given our winters.

Well, let's see, if this great invention has a patent that must mean ......
NOTHING!!

The CBC is trying to make a silk purse out of this pig's ear. But even it can't overlook the very serious legal deficiencies in its own account.

Not holding shareholder meetings? Not filing share sales? Company financial documents unavailable? All of these are corporate felonies. What we get from Beck is a string of excuses that any judge would discard immediately. And the egotism of thinking he's Steve Jobs is truly amusing. And his technical claim of 90 per cent solar cost reduction is utter nonsense.

There's two sets of issues here. The first is that the shareholders are getting what they deserve. After at least 12 years of this nonsense, they're only waking up now to the scam foisted on them?

But more serious is the sloth of the Saskatchewan financial regulators. What excuse does FCAA have for taking no action for the past seven years on failure of Beck to file financial reports?

Somewhere Jim Flaherty is laughing. Hands up everyone, who still thinks that all these nickel-and-dime provincial securities regulators are a good idea.

It depends what share class these investors purchased. Usually investors are sold preferred shares that have no voting rights and are not eligible to be at the annual meeting. To be a director you need to hold common shares, which are required at the annual shareholders meeting. It doesn't look like this guy even had a board of directors, which is a very bad sign.

As for filings, we don't know how this capital was to be raised. If it was the offering memorandum exemption, which sounds to me that it was, he should have been reporting his share sales.

A national regulator could not have made him follow the existing laws any better than the provincial regulator.

I believe the appropriate aphorism is:

A fool and his money are soon parted.

Both of our local schoolhave gone Solar Power but its been cloudy and foggy lately and most of the sunlight comes during the summer when the schools are closed

Solar and wind power advocates are nothing more than modern day alchemists trying to spin gold out of BS, lies and midguided orthodoxy.

Fools indeed.

The House of Saud is laughing its ass off and rightfully so.

Saskatchewan Company Asks for Money.

Solar Hydrogen Energy Corporation... Hearing those words sends shivers down my spine! Where in the hell do you get 1,100 investors to pony up an average of $18,181.82 each. These are not investors but nut jobs that need a shock absorber installed between their brain and wallet.

this type of scam (bullshit) is not new, but the smart operators go after big corporations and/or government money, because the bigs write it off and never bother again, and government just pisses your tax dollar away and does not like the publicity it would generate if they discovered that it was just a scam.

These types of scams simply set up a situation were the CEO/president pays themselves a "reasonable" wage, plus benefits and pretends ,to do, or run a research facility. And then when things start to go south they just close up shop (go bankrupt) and find a cushy job using their CV based on running a research company.

This is hilarious. Milden is virtually a stone's throw from SDA and yet these savvy solar power investors didn't have the foresight to simply ask what Kate et al might think.
Someday someone may indeed have a good solar power idea that does not need taxpayer help but in the meantime, buyer beware.

A new episode of 'Canadian Greed.'

Canadian Greed, indeed! Pure and unadulterated...with a generous side dish of carelessness; as in "I could care less that my expected returns will hurt my neighbours and fellow Canadians.

I'll take a wild guess that the plan was to use solar power to crack water as an energy storage medium. The pipe dream was to make it affordable and a big breakthrough was "just around the corner".
They (marks/ muppets) never learn.

" I wished I had the money to invest in this because there is merit in this.... a lot of good inventions come out of saskatchewan"

I told this commenter to mortgage his house,cash in any investments or borrow from family and friends. I don't want to see this dedicated greener miss this boat!

One commenter asked if Beck had taken entrepreneurial training in Nigeria.

But some still "believe in him"!

Wind farm proponents say the Wildturbines are quite Yeah Sure maybe they should tell that to people who live with in a short distence of Windturbines and Windturbines are hazerdoius to birds and bats and still many of these stupid eco-freaks including Greenpeace and World Wildlife Fund should be tied to the blades of a windturbine ENVIROMENTALISM isa form of STUPIDITY brought on by a steady diet of Nuts and more nuts

"You coulda been reading SDA."

Well said, well said...

18 years and 15 solar panels sold. LOL!

Each panel needs to cost 1.333 million just to break even.

I wonder which public sector department bought the 15 panels?

I guess the shareholders of SHEC shouldn't expect any dividends this quarter.

Leave a comment

Archives

November 2016

Sun Mon Tue Wed Thu Fri Sat
    1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30      

Recent Comments

  • Travis: I guess the shareholders of SHEC shouldn't expect any dividends read more
  • Paul: 18 years and 15 solar panels sold. LOL! Each panel read more
  • neocon_1: "You coulda been reading SDA." Well said, well said... read more
  • Spurwing Plover: Wind farm proponents say the Wildturbines are quite Yeah Sure read more
  • Don Morris: " I wished I had the money to invest in read more
  • ghost of dw: I'll take a wild guess that the plan was to read more
  • Jamie MacMaster: Canadian Greed, indeed! Pure and unadulterated...with a generous side dish read more
  • chutzpahticular: A new episode of 'Canadian Greed.' read more
  • roninkelowna: This is hilarious. Milden is virtually a stone's throw from read more
  • NME666: this type of scam (bullshit) is not new, but the read more