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    GWE is not dead. (Score: 1)
    by vlad on Saturday, April 17, 2004 @ 19:47:52 EDT
    (User Info | Send a Message) http://www.zpenergy.com
    I heard from more sources that the restricted area of the GWE site has been updated recently. Very little information transpires since those with access seem to adhere to a signed confidentiality agreement. It appears that GWE has chosen to keep a low public profile with clear advantages in both cases (if they are legit or not). I have personally said since I started this site: ideal, a revolutionary technology such as a working ZPE device (or even something like he Edison device, working as claimed) should first be quietly brought to the market and THEN advertised. If it works, one just have to say it exists and people can by it from ...Walmart...and the "event horizon" will be crossed.


    | Parent

    GWE knew about the criminal complaint in February 2003 (Score: 1)
    by chipotle_pickle on Sunday, April 18, 2004 @ 01:30:02 EDT
    (User Info | Send a Message) http://freehydrogen.blogspot.com
    And they heard from the NJ investigator long before December 2003, when the public learned about the NJ inquiry. So for most of the time they updated their website, they knew they were the subject of a fraud investigation. This means that it's unlikely that the fraud investigation is what's made them stop updating their website. But I don't have any idea what's made them stop.

    The scam had already pretty much played itself out by the time that anyone had heard about it. UFCT was a privately held Delaware corp run by Patrick Kelly from Meridian Id. The investors were drawn from existing social networks in NJ (mineral hobbyists, sun entthusiasts, etc). The pitch included a demo, but it was not a Newman/Lee class demo. More of a Tilley class demo. Investors bought in from 2001 through 2003. But in late 2002, investors were impatient. This is when GWE was invented. It has been a year and a half long distraction, but while opening up the website and throwing the press conference did make it look like there was a business, and it attracted boosters like Vlad, it also brought detractors like Bob Park, Erik Kieg, and me.

    I understand from Vlad that they still make updates to the portion of their site for licensees. These are the people who signed up in January 2003 and were NDAed in 2003-May, that they still haven't shown any technology. There was a time I was curious what GWE was telling those people, but it just doesn't matter. GWE never intended to do business with the licensees, not even to rip them off. The whole licensee show has been, like the rest of GWE, just to distract the investors who already knew in late 2002 that something seemed wrong.


    | Parent

     

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