Also...just because Corvias isn't calling them a partner any longer doesn't mean they won't be using Abtech's products in their design.
He's not an attorney...at least not a practicing one as far as I can tell, but he is someone close to the situation, and because of that I understand his protective nature. Do I know him personally? No...never met him but I imagine he's a decent fellow. I think most of what he has said is true with a few minor embellishments but Its irrelevant nonetheless.
I'm hanging on because lets face it...what are my options here at this point? I committed to the story awhile back and still see potential but its just disappointing the recent turn of events. Do I blame anybody (Management) for bending the rules and doing something that let's face it...would be considered unethical by most people's standards? No
Do I blame Nassau and Corvias for stepping back away from the situation? No...gotta do what you gotta do.
I can just put myself in Mr. Rinks shoes though and imagine that after all the years of hard, hard, hard, hard work, developing something with proven benefits and trying to bring it to market, all the while feeling the pressure (after YEARS mind you) of catching a break, that I might actually be tempted to do something similar. Especially with people that aren't in the know criticizing at every turn that things aren't moving quickly enough, or questioning facts.
Is there a lot to be critical of? yes...Is it normal to be disappointed or angry at the current situation? Yes...
There is still something compelling here though, which is why after two years someone who sold and got out is still watching from the sidelines. Just saying...
you do realize that Nassau county is on Long Island?...Long Island New York? New Jersey State laws do not apply there.
not my comments. If you read most of my posts they are supportive in nature with a few moments of frustration thrown in here and there. I tried to reply to your earlier question posed to me but before I could finish that conversation got hijacked and you removed your posting.
Charles...nobody here on this board knows the insides and outs of Abtech's strategy or business plan like they do. We are all just frustrated shareholders. The reason any of the remaining here hasn't sold is because we see the remarkable potential for the product, but we just can't understand the lack of market penetration. I for one don't blame them for "lobbying" business in Nassau. The unfortunate thing IMO is that the guy they thought could bring the horse to the stable apparently didn't have the clout to do so, and tried to renegotiate the agreement half way through (on two occasions, fracking and storm water) Thats what happens when you deal with scumbags...and he is getting his courtesy of IMO someone at Abtech. Personally, I would love to know why Cuomo flipped on fracking last minute, but that's politics. I for one do believe management is trying as best they can to change things for the better, but it seems they either have the worst luck closing deals or whatever. I don't want to speculate. Please take your above post down though. Its out of frustration that it was written and rightfully so, but it shows weakness. Stay the course, and don't be concerned with us idiots here please. Looking forward to an Evaporator update (if that deal is dead please say so) and the recent nuclear testing on the next CC. Hoping Mr. Rink and Co. can get one done soon. Many singles add up to runs not just home runs etc...etc..etc.. Best
Well...now that they have Adam off the payroll they can pay 10k a month to someone that may actually have an impact on revenue. Someone that actually knows something about all "that water stuff"...Adam's polar opposite.
Is it illegal to make extortion payments...no...thats why its called extortion. I give Rink a lot of credit now for helping take these two clowns down now. Rink has everything to lose but showed some spine for not allowing these idiots to continue their extortion tactics. Anyone from Upstate familiar with Turning Stone casino? and how all the bars in the casino were built and ready for service but sat unused for years after the casino was open because they couldn't get their liquor license? Thats New York state politics. The greedy POLs had them shut down for years...
I agree with you truth...Rink is a valuable asset to the company, but not sure that his spot is in the driver's seat.
Excerpt from a Newsday article by Joye Brown April 22, 2015 6:10pm regarding New York State Law:
the loophole in state law... "It allows consultants to introduce business representatives to government representatives -- as long as there's no pitch for action -- which means the consultants can avoid registering with the state as lobbyists... the loophole also allows the business to avoid registering as a lobbying client, a move that can complicate trying to determine what the client is trying to influence."
"The current Nassau Republicans have proposed new legislation for their county that keeps this loophole in place, the Democrats have proposed legislation that will close this loophole."
as long as Adam did not "pitched for action" over and above introductions, it would appear by this that nothing illegal took place in that regard.
From another article however....” Nassau must get legislation passed in Albany for the contract with AbTech to go forward." from the Queens Gazette.
I agree...it weakens their story to stop or delay. Don't forget...Nassau has said it has the most transparent process in Government. Pretty bold statement...and the acting DA's internal investigation? Things will be discovered...pee pees will be slapped behind closed doors and changes will be made going forward but will all remain internal. Disclosing improprieties opens up questions on how all other contracts were awarded...suddenly every company that was ever a low bidder but not awarded a contract has its radar up. Nassau legislators have already proposed changing lobbying rules going forward for the appearances that they are on top of the situation. Its all very embarrassing to them...they want it all to go away.
If something is found...and most likely it would be outside of this Nassau contract. It all goes away with the Elder Skelos admitting nothing but resigning. The Feds end game isn't whether the Nassau contract was handled inappropriately (although the acting DA may choose to press that issue through her own investigation) The end game is Preet Bharara's own political agenda, by exposing the vast corruption in NYS politics. But in this world it isn't what you know its who you know, and Skelos' brother happens to be a NYS Supreme Court Justice. I think that could provide certain privileged exit options for the Senate Leader if needed. To your point though the Q1 CC will be interesting.
This is about Skelos...and the Feds are using his son as leverage in part by trying to show a pattern of him moving around from job to job and getting paid in at least one instance by a company that he did not work for, in return for the elder Skelos' influence. Does it look suspicious? Yes it does...Is this how some political business appears to get done in NY state? Sure looks that way. Does it mean Abtech did something wrong by hiring Adam as a consultant? Perhaps not. Although this appears to be a sketchy way of doing business I doubt that it is illegal. How this will ultimately affect Abtech and Nassau is unknown...but again...this is about Skelos.