The Alternative Energy Technology Center, Inc.: Retraction and Clarification of Statements Contained in Unauthorized Press Releases.
HOUSTON -- The Alternative Energy Technology Center, Inc. (OTC OTC
See over-the-counter market (OTC). :AETE AETE Aerospace Engineering Test Establishment (Canada)
AETE Aquatic Effects Technology Evaluation (MMS Canada)
AETE Apple Event Terminology Extension ) wishes to advise shareholders and other interested parties that unbeknown to Senior Management various press releases had been disseminated to the public utilizing unauthorized methods. AETE wishes to retract TO RETRACT. To withdraw a proposition or offer before it has been accepted.
2. This the party making it has a right to do is long as it has not been accepted; for no principle of law or equity can, under these circumstances, require him to persevere in it. and/or clarify those press releases and/or information disseminated through a conduit of websites.
On or about January 29, 2008, by virtue of a press release, listing David Mordekhay as the contact person, it was announced that AETE had procured a research facility in Woodlands, Texas, whereby AETE would continue commercialization and research of its biomass refining technology. Due to financial constraints and other related matters an agreement on this facility has not been contracted and may be available to AETE in the future, although no guarantee can be made.
On or about February 18, 2008, by virtue of a press release, listing David Mordekhay as the contact person, it was announced that AETE had terminated its joint venture agreement, dated December 14, 2007, by and between Gulf Ethanol Corporation (GFET) and Meridian Bio-Refining, Inc. a wholly owned subsidiary Wholly Owned Subsidiary
A subsidiary whose parent company owns 100% of its common stock.
In other words, the parent company owns the company outright and there are no minority owners. of AETE, due to material default by GFET with regards to the terms and conditions of said joint venture agreement, thus the "Intellectual Property and Sublicense sub·li·cense
A license giving rights of production or marketing of products or services to a person or company that is not the primary holder of such rights.
tr.v. Agreement", having been previously submitted in writing to GFET was formally withdrawn and any and all relationships with GFET have been revoked, rescinded and withdrawn.
On or about May 7, 2008 AETE advised that Jonathan Gilchrist and related companies had been issued a "cease and desist Cease and desist (also called C & D) is a legal term used primarily in the United States which essentially means "to halt" or "to end" an action ("cease") and to refrain from doing it again in the future ("desist"). " directive relative to conducting business on behalf of The Alternative Energy Technology Center, Inc. AETE had also demanded that Gilchrist take the necessary steps to ensure that all rights, title and interest to the web page, http://www.altenergytechcenter.com, be transferred to AETE. Such demands have gone unanswered, thus AETE intends to take the necessary steps to ensure that this website is shut down or ownership is transferred to AETE. Some of the information presented on this website is false and misleading as set forth below:
"Carliwater, Inc. is an Israeli company to which we have licensed the use of our technologies for the purification and desalinization of water. Many parts of the world lack the fresh water resources needed to support growing populations and agricultural needs. Carliwater is working to deliver a cost-efficient technology for removing salt from seawater seawater
Water that makes up the oceans and seas. Seawater is a complex mixture of 96.5% water, 2.5% salts, and small amounts of other substances. Much of the world's magnesium is recovered from seawater, as are large quantities of bromine. and delivering fresh, potable potable /pot·a·ble/ (po´tah-b'l) fit to drink.
Fit to drink; drinkable.
fit to drink. water to these nations in cooperation with The Alternative Energy Technology Center." http://www.altenergytechcenter.com/company.html
AETE, at the present time, neither owns nor has a license, exclusive or otherwise, to technology for the purification and desalinization of water, nor does AETE have any business relationship with Carliwater, Inc. as alleged on this website (http://www.altenergytechcenter.com). On information and belief, Carliwater, Inc. may be a business entity owned and/or controlled by Jonathan Gilchrist and David Mordekhay.
"Morgan Stacy, Inc. builds equipment used for materials separation and purification. AETE will be the primary R&D, engineering and construction partner for Morgan Stacey. Currently gas separation units are being developed for the oil field service industry. This technological platform is expected to be expanded to provide technologies to clean toxic wastes toxic waste is waste material, often in chemical form, that can cause death or injury to living creatures. It usually is the product of industry or commerce, but comes also from residential use, agriculture, the military, medical facilities, radioactive sources, and and for the more efficient processing of human waste products." http://www.altenergytechcenter.com/company.html
AETE, at the present time, neither owns nor has a license, exclusive or otherwise, to technology for the materials separation and purification of gas for the oil field service industry, nor does AETE have any business relationship with Morgan Stacy, Inc. as alleged on this website (http://www.altenergytechcenter.com).
"Quantum Refining, Inc. is a development stage technology company focused on developing new and revolutionary technologies for the refining of crude oil into transportation fuels, chemicals and plastics. Quantum refining has retained AETE as its technology development partner. They expect to deliver faster, cheaper, safer and more scalable refining technology within five years." http://www.altenergytechcenter.com/company.html
AETE does not have any business relationship, whatsoever, with Quantum Refining, Inc., for the refining of crude oil into transportation fuels, chemicals and plastics, as alleged on this website (http://www.altenergytechcenter.com).
As set forth on hotstockmarket.com message boards, AETE adamantly denies any and all relationships with Cariwater, Inc., Morgan Stacy, Inc and. Quantum Refining, Inc, as referenced above and as alleged on the hotstockmarket.com message boards as set forth below: http://www.hotstockmarket.com/forums/showthread.php?t=59458&page=2.
AETE also commented on reports that individual investors had received unsolicited spam E-mail that is not requested. Also known as "unsolicited commercial e-mail" (UCE), "unsolicited bulk e-mail" (UBE), "gray mail" and just plain "junk mail," the term is both a noun (the e-mail message) and a verb (to send it). e-mails promoting AETE stock. Activity of this type, conducted by any individual, group or entity, has been without the knowledge or consent of AETE Management. Any compensation in cash or free trading stock associated with this activity was not authorized au·thor·ize
tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es
1. To grant authority or power to.
2. To give permission for; sanction: nor paid for by AETE.
AETE and its Management sincerely regret if any of the investing public have been inconvenienced or misled by any information promulgated prom·ul·gate
tr.v. prom·ul·gat·ed, prom·ul·gat·ing, prom·ul·gates
1. To make known (a decree, for example) by public declaration; announce officially. See Synonyms at announce.
2. by the website (http://www.altenergytechcenter.com), message boards and spam e-mails. Complaints have been filed with the appropriate regulatory agencies regulatory agency
Independent government commission charged by the legislature with setting and enforcing standards for specific industries in the private sector. The concept was invented by the U.S. to ensure that these sites and their emanating claims are dealt with in the appropriate manner.
AETE also disclosed that it had been notified by McElravy, Kinchen & Associates, P.C. that the previously announced audit engagement commitment is being withdrawn, prior to the commencement of any work on behalf of AETE. AETE is presently seeking a qualified auditing firm and will advise shareholders when an auditing firm has been retained.
On or about April 3, 2008 and April 15, 2008 Gulf Ethanol, Inc. (GFET) announced that it had signed product development and distribution agreement with Vortex Ventures and GFET had ordered prototype cellulosic cel·lu·lose
A complex carbohydrate, (C6H10O5)n, that is composed of glucose units, forms the main constituent of the cell wall in most plants, and is important in the manufacture of numerous products, processing unit, respectively. On information and belief AETE believes that GFET may be violating a confidentiality agreement signed by GFET for the benefit of AETE, during the timeframe when AETE had entered into its joint venture arrangement with GFET. AETE intends to vigorously defend it rights, title and interest with respect to its technology and any breach by GFET.
About The Alternative Energy Technology Center, Inc.
The Alternative Energy Technology Center, Inc. (OTC:AETE), based in The Woodlands, Texas, is a technology company focused on biofuels and alternative energy technologies. It is developing the first true biorefinery in the U.S. It will focus on technologies using renewable energy Renewable energy utilizes natural resources such as sunlight, wind, tides and geothermal heat, which are naturally replenished. Renewable energy technologies range from solar power, wind power, and hydroelectricity to biomass and biofuels for transportation. inputs from non-food energy sources and on technologies that can be scaled up to efficiently address the post-petroleum energy needs of the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and abroad. AETE's integrated technologies provide the ability to convert cheap, abundant cellulosic plant material into a variety of fuel products that will allow AETE, initially, to efficiently address a part of America's energy needs. America's energy future must be built on renewable fuels Renewable fuels are alternative fuel sources such as ethanol, biodiesel (e.g. soy, vegetable oils, animal fats, or recycled restaurant greases) or hydrogen, in contrast to non-renewable fuels such as natural gas, LPG (propane). that can be produced at a lower cost and AETE's vertically integrated biorefining technology delivers the answer to this pressing need.
Safe Harbor Safe Harbor
1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated.
2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements forward-looking statement
A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.