The India deal would have had me very worried if I was holding and wasn't already worried! They already did their pilot plant, promised to release the results, kept delaying month after month (see a pattern?) and then eventually just didn't show the report/results to shareholders, not a single word, and simply said they were really happy with it, etc, with absolutely no specific details! If that doesn't say run away I wasn't sure what would, but over the following years AEB outdid themselves again and again in the department of giving reasons to run away. And then, inexplicably, after assuring everyone that the pilot plant had done its job and proven that the algae biofuels project was all super wonderful, profitable, etc etc, rather than using this technology which would have been worth literally billions (probably actually trillions of dollars), they got someone to do the same thing again in India to test what they said they'd already tested, which we never heard about, they went almost completely silent about it.
Why not hemp biofuel? Well, they failed at algae biofuel then failed at the algae feed venture then failed at medical cannabis, I mean, sure, why not try hemp biofuel? Why not try Bitcoin mining? Why not try opening up a casino or getting into the childcare industry? Perhaps they could manufacture glassware or get into home decorating - they already apparently have quite a lovely collection of furniture (did you see that one?!)
If you have a perfect record of failure in a range of different ventures, do you really think it makes sense to have a go at something new, or should you ask yourself why you keep on failing and address those issues? As a shareholder, in my opinion, in a situation like this there is absolutely no good reason to say anything other than "Wow, I wouldn't touch this company with anything other than my enemy's trading account"
AEB Price at posting:
0.9¢ Sentiment: Sell Disclosure: Not Held
