Frederic Sheer and his Cereplast'Inc. Board made 2011 balance sheets fully false, all sales were false, they moved around 14 miliions usd of goods from States to sisters companies in Europe ( Italy Germany Malta) with 2.500 euro equity each knowiing that that amount would be never paid as the quality was sheet and the price was out of market. it is amazing that nor SEC nor famous american auditors didn,t see what Sheer was doing. In Italy and generally abroad: He left debts and issued cheques as guarantee., Cannara is an impossible businesses. And the Board? In Italy they funded Cereplast Italia Srl and it is the same losing history of Cedreplast Inc. Here in Italy the amount of debts for storing goods is more than the commercial value of the products. The same is in Germany and Malta. If someone needs further info on this adventure I can write a book, We are creditors as well of Cereplast Inc.,USA. Algae, India, new laws in Italy for bio for Mr. Sheer are only empty words to hide the substancial bankruptcy of Cereplast Group.