GWE misses first deadline on website
Date: Thursday, March 11, 2004 @ 21:26:53 EST
GWE has been pretty careful about not setting up tight deadlines for itself, however, it did set up a few, the first of which, the award announcement date for the 2003 research grants has just passed quietly without any announcement.
The second, the 2004 Angel scholarship announcement date is coming up at the end of the month.
They missed an earlier date they promised in 2003-February, when they had promised several reporters that they would show them the Eagle house that's supposedly been running an Edison since 2002. It would have been pretty uncomfortable to explain why the house still got an electric bill, so that had to be canceled.
The investors might think it's just as well that the give-aways are not happening, since there is no profit (or even revenue) to give away, only investor capital. The point is that GWE was trying last year to create the impression that they had a business back then, and the announcements for the never to be awarded give-aways was part of that. Remember Anthony Marchetti who had cleared his posts with Kelly saying that the company was in a position, but for tax reasons, to pay a dividend in 2003. A startup doesn't pay a dividend out of investor capital while there is no income stream. Anthony was trying to create the impression that there was revenue in 2003.
GWE's web page also tries to create the impression of a business that started in 2003, that's already signed up licensees and started building components for them. They wrote this October 6th!
During the 2003 licensing period, applicants from over 140 nations were selected for award of Edison Technology licenses. In addition, nearly every major vehicle manufacturer in the world requested a license for the HICEF Technology. Since the 2003 announcement, license requests for iGAS have been brisk.
On August 19, 2003, GWE began the production of Edison Technology components, which will support the delivery of Edison Devices to consumers and businesses in 2004.
Investors who read that statement back in October got a completely false idea that this company had licensees and production. But licensees here know that there are not any licensees and that they are not buying any components.
License candidates really ought to end the conspiracy of silence that helps to keep the investors in the dark. Investors, just ask for any confirmation at all. Ask for an audited balance statement. Ask for souvenir copies of "tested by" stickers they ought to have if they have been in production since August. Ask them to get their licensed REALTOR to swear out a statement that he's rented so many SQFT of light industrial space for them. Ask for the electric bill for the Eagle house. Ask for the name of a single officer who will say that he met Patrick back in the day he was working directly with the joint chiefs. Just scratch the surface with them, and you find there is just *nothing*.