Another Open Letter to Kevin Collins

Dear Mr. Collins,

How is that this accounting problem got by you for so long? Prior to being the CEO you were the Executive VP of Finance & Strategy as I recall. How is it that you didn't know that you had almost 50 million improperly designated as cash? When will you be coming forward with full disclosure on your accounting problems? Please be aware that I'm not going to let you just sweep this under the rug. I've already been in touch with a friend of mine who is a top notch forensic accountant. He has limited time right now but when he gets a chance to go over your books you can bet he will be picking them apart.

You now have $28 million in cash. How will you build a plant with so little? We already know it costs significantly more than that to build out a kfuel plant. If a new plant costs half as much to build as the Fort Union debacle you still don't have close to enough money to build a new one. So how will you get the money? With a secondary you will have to significantly dilute shares at the current share price. Will you use a PIPE or some other kind of toxic financing?

May I remind you sir that we live in a different day. The internet is an amazing thing. People can find out information about a person in your position in a matter of minutes. Your clumsy actions here will haunt you for the rest of your career. Your dirty laundry will be on display for years to come, possibly decades.

If there really is something to kfuel then I suggest you cut the charades and come clean. Otherwise, if kfuel is actually a hoax or not really a viable solution then I can understand why you don't have a choice but to continue to play games. From the outside looking in, that's what appears to be going on. You are trapped in a mess you cannot get out of. I'd say the market is agreeing with me on that, wouldn't you?
Author: osollo