IS IT TRUE: March 25, 2012

IS IT TRUE that there is a situation about to happen that has the potential to make the City of Evansville an preferred “mark” for every business in the country that is having difficulty obtaining financing to start their latest idea off with a pile of cash?…that in spite of the pleadings of several citizens of Evansville for a public release of a third party technical vetting study of the Earthcare Energy concept with a test under real world conditions and a revised “Investment Summary” that is not full of errors, omissions, and contradictions THE VOTE TO GIVE THEM A $5 MILLION UNSECURED LOAN IS ON MONDAY NIGHTS AGENDA of the Evansville City Council?

IS IT TRUE that there are two people involved in the approval chain for this project who have the letters CPA (Certified Public Accountant) behind their names and that these two people need to do their sworn duty as stewards of the public coffers and express explicit opinions about the Earthcare Energy “Investment Summary” that was provided to the City Council by GAGE President Debbie Dewey?…that the CPA’s in this cluster are Evansville City Councilman John Friend, CPA and former Evansville Mayor and current City Controller Russ Lloyd Jr. CPA?…that these two gentlemen need to take their politician hats off and put their private practice CPA hats on to address the following questions before offering positive testimony, a recommendation, or a YES vote on this resolution”

1. In your capacity as a CPA would you recommend that your client(s) invest in a business that adds a column of numbers incorrectly in their investment summary?

2. In your capacity as a CPA would recommend that your client(s) invest in a business that is applying for a $5 Million loan but is projecting a cumulative loss of $26,695,185 during its first two years without identifying where the shortfall will be coming from?

3. In your capacity as a CPA would you recommend that your client(s) invest in a business that explicitly states that there will be no founder investment (ZERO) in its investment summary?

4. In your capacity as a CPA would you recommend that your client(s) invest in a business that states on page 3 that the 5th year headcount will be 39 yet conflicts that projection by projecting a 5th year headcount at 120 to the IEDC and on the pro-forma?

5. In your capacity as a CPA would you recommend that your client(s) invest in a business that claims in its investment summary to have a patent that it really does not have?

6. In your capacity as a CPA would you recommend that your client(s) invest in a business that asserts that there is no competition (there is) and summarily dismisses other threats to success such as other technologies that serve the same purpose and low barriers to entry as “two years behind”?

IS IT TRUE that if you Councilman Friend and Mayor Lloyd after spending your lives building great reputations in the field of accountancy can answer an emphatic “YES” to all of those questions then by all means provide positive testimony and vote affirmatively on the Earthcare loan resolution?…that your client in this case is the City of Evansville and even though governments do have a different view of the world when it comes to money, governments should share private values when it comes to things like ACCURACY, CONSISTENCY, AND COMPREHENSIVE PLANNING?…that the CCO calls upon you two gentlemen to rise above your peers who do not have the letters CPA behind their names and make the same recommendations for the City of Evansville that you would for your own private clientele?…that your private clientele will be watching how this is handled?

IS IT TRUE that the CCO also calls upon the non CPA’s on the Evansville City Council and in the Mayor’s office to look to these financial people for leadership in making your decision?…that you should all ask yourselves the same six questions and pretend it is your own retirement fund that you are considering to make this loan?…that Earthcare Energy may be nice guys who say they are going to create some jobs but the reality of the situation is that we all know the answer to those six questions?…that we all also know that a real world test by a third party which has been written in the Earthcare investment summary as scheduled for completion in 6 days should be reviewed completely by local technology experts before approving any loan?…that then there is the nagging question that many people have been asking the CCO, “should the City of Evansville be an investment bank for an out of state start-up company even if the planning and concept are flawless?”?

IS IT TRUE that it has now been 72 hours since the City County Observer offered Earthcare Energy a free supportive story if they will send us a third party assessment of their proposed technology that was conducted under real operating conditions as set forth in the report from Concurrent Technologies where they recommended to the Air Force that they should conduct such tests if they really wanted to consider implementing a solution utilizing the Langson device to capture step down pressure from gas transmission lines and turning it into electricity?…that we will extend this offer indefinitely as the financial projections in the “Investment Summary” do not even merit being read for anything but consistency until a real world 3rd party validation by a recognized testing company like Concurrent Technologies has been completed and made available to the people of Evansville?…that between our two 4 year universities, a decent number of companies, and wayward engineers who want to see Evansville do the right thing that there really are a fair number of people who will understand such a report?

IS IT TRUE: March 24, 2012

IS IT TRUE that it has now been 24 hours since the City County Observer offered Earthcare Energy a free supportive story if they will send us a third party assessment of their proposed technology that was conducted under real operating conditions as set forth in the report from Concurrent Technologies where they recommended to the Air Force that they should conduct such tests if they really wanted to consider implementing a solution utilizing the Langson device to capture step down pressure from gas transmission lines and turning it into electricity?…that we will extend this offer indefinitely as the financial projections in the “Investment Summary” do not even merit being read for anything but consistency until a real world 3rd party validation by a recognized testing company like Concurrent Technologies has been completed and made available to the people of Evansville?…that between our two 4 year universities, a decent number of companies, and wayward engineers who want to see Evansville do the right thing that there really are a fair number of people who will understand such a report?

IS IT TRUE that GAGE leader Debbie Dewey and two other people one of which is a high ranking Vectren official made the “touch the prototype” pilgrimage to Langson Energy’s Carson City, Nevada facility this week and have verified that the unit in the youtube video does exist?…that no one really doubted that the lab model shown working with a shroud over the “invention” and running at an intake pressure of 70 psi in the youtube video existed?…that running in a controlled condition at pressures that are 90% below real world conditions does not constitute TECHNICAL VETTING?…that even in her letter to the City Council there are no references to any real world testing being completed?…that proclaiming this to be ready for production based on a lab model at fractional operating conditions is the equivalent of pronouncing a new car from a company that has never produced cars to be ready to produce because they have a prototype that will go around the block at 10 miles per hour?…that the CCO will be doing our best to post a copy of this letter prior to Monday’s City Council meeting?

IS IT TRUE that we also have it on good authority that the Evansville City Council will be calling for a vote on this on Monday night?…that the sponsor of the resolution is none other than Finance Committee Chairman Councilman John Friend, CPA?…that Councilman Friend has shared with the CCO that he is not comfortable with the state of the financial projections in the “Investment Summary” provided to the Council through GAGE?…that there are many questions that he has expressed a desire to get answers for including why Earthcare claimed to have a patent when one does not yet exist, whether the number of jobs is estimated at 39 as it says on page 3 or 120 that is in page 5, who will be buying the $10 Million in stock referred to on page 9, and where they intend to borrow the $25 Million referred to on page 9?…that Councilman Friend also expressed a need to see in the pro-forma exactly when the $2.5 Million per year payments will start being made to the City of Evansville as there is no provision to do that in the 5 year financial projections?

IS IT TRUE that in all reality this concept maybe the best thing since sliced bread for Evansville but the untested nature of the device and the inconsistencies within the “Investment Summary” are so far from being ready to be evaluated for investment purposes that the only reasonable action for the City Council to take is to defer a decision on this loan until a real world test is published and a pro-forma that reads like an adult wrote it are made available?…that Ms. Dewey does write in her letter that the patent that has been applied for really does not matter to the success of the project?…that the patent application is only on the concept of combining existing commercially available parts to capture let down pressure and convert it to electricity?…that she even admits that another entity could enter this market but that Earthcare would have a two year head start?…that there are many computer companies that do not exist that had a two year head start on companies like Dell and Apple?…that Earthcare is projecting to lose $26.7 Million during their first two years anyway?…that if this business is a large as studies indicate that there will be many players in this game and some of them with have hundreds of millions of dollars backing them?…that two years and an application patent that may someday be issued, and a $5 Million loan from the City of Evansville will not be sufficient capitalization to compete in such a market?

IS IT TRUE that despite what Earthcare has asserted that there are already players in this market?…that a simple Google search reveals three?