Why would you assume that the investors would have done lousy due diligence?
Why is it that we always believe that we understand more than the investors
who would have been up close and personal with the people and scientists at
BLP and have seen the technologies and prototypes more closely? Why is it
that we feel that we know more than the validators?
Why this air of superior smug on our part that BLP investors are gullible?
that we know more than them? Do you honestly believe these investors are
unaware of BLP past failures? Surely they are, and yet continue to invest.
What does that tell you? That you have superior knowledge and they part
with millions because they are gullible and have not done proper due
diligence?
Frankly, I want BLP to fail, but this constant witchhunt and attacks are
getting old. Yes, BLP has had past failures, everyone knows that, but no
one else is doing any better? Is Rossi doing any better? (Where's the
promised TIP2 report or the plant visits.) Or maybe the mythical hyperion
has rose from the ashes again. Or how about Brillouin? Or is McKubre,
Storms, Mitsubishi, Mizuno, etc doing any better?
The challenge is difficult and frought with risks. Let's give BLP some time
and credit shall we?
Jojo
From: "Analog Fan" <[email protected]>
To: <[email protected]>
Sent: Friday, August 15, 2014 8:08 AM
Subject: Re: [Vo]:BLP picks up another 11 M from investors
Raising another $11m is an impressive milestone for BLP. But we've seen
this before - every few years BLP makes big claims, puts on a demo, does a
press release, raises money and then vanishes for a few years until more
money is needed. I do wonder how much due diligence these investors did?
Exhibit A: October 25, 1992
"We're getting 10 times the power out relative to power going in--every
hour, every day, week after week." Mills says to expect a "major
announcement" around year end that his confidants predict may include the
unveiling of a prototype 10-kilowatt
electrical generator.
That's back when BLP was known as HydroCatalysis Corp, and was hot on the
heels of Pons and Fleischmann!
Exhbit B: May 28, 2008
BlackLight Power, Inc. today announced the successful testing of a new
energy source. The company has successfully developed a prototype power
system generating 50,000 watts of thermal power on demand. Incorporating
existing industry knowledge in chemical and power engineering, BlackLight
Power (BLP) is pursuing the immediate design and engineering of central
power plants
utilizing the BlackLight Process. BLP plans on developing pilot plants
with architecture and engineering firms with anticipated delivery in
approximately 12 to 18 months.
For twenty two years, it's been the same cycle of claim, hype then
silence.
What I can't understand is where BLP is planning to spend the $11m? Their
business summary claims "seventeen employees and eight consultants wherein
the majority of employees and consultants are scientists and engineers"
But LinkedIn lists only Dr Mills, VP Bill Good, two chemical technicians
and two executive assistants as employees of BLP. At least two of their
senior research scientists left in the last few years according to their
profiles.
The other possibility perhaps is the other eleven BLP employees are simply
too embarassed to list BLP on their LinkedIn profiles?
AF
On Thursday, August 7, 2014 5:27 PM, Orionworks - Steven Vincent Johnson
<[email protected]> wrote:
On Aug 7, over at the BLP web site "What's New"
Link, and at SoCP Randy posted the following statement:
"On July 31, 2014, BlackLight
Power closed on $11 M in private equity financing that was oversubscribed
by $1
M."
I never majored in business. I assume the above statement means
BLP just got another 11 M infusion from private investors. I assume the
"oversubscribed" phrase means BLP had actually asked for only 10 M,
but apparently his investors are feeling generous.
Say what you will, but right now I find keeping tabs of
what's happening over at BLP to be a fascinating hobby.
Good luck, Randy. I mean that.
Regards,
Steven Vincent Johnson
svjart.orionworks.com
zazzle.com/orionworks
