HENDERSON, NV --(Marketwired - October 21, 2014) - Blue Earth, Inc. (BBLU) (Company) a renewable/alternative energy and energy efficiency services company, responded today to false statements and allegations made by the Pump Stopper in Seeking Alpha.
"Response by Johnny R. Thomas, CEO of Blue Earth, to False Statements of "The Pump Stopper".
This posting compiles selective information in a false and misleading manner to maliciously advance, we believe, a "short agenda" for personal gain. Responding to all of the falsehoods and innuendos would dignify the author with more credibility than deserved.
1. Fraud Allegations at ABTX: A class action suit was filed against ABTX and management. The lawsuit was DISMISSED with prejudice. The law firm that spearheaded the lawsuit, Milberg Weiss, was disbanded and certain principals went to jail for their illegal activities in initiating and pursuing such lawsuits. In America, any one can file an allegation and any one can make misleading and false accusations as this disreputable party has done. Filing does not make them true. Consider the financial motive of the author as he panics investors into selling to cover short positions and reap huge profits.
2. BBLU has hired multiple stock promoters: Investor Relations outreach is an important and critical fiduciary duty of management. There is a difference between investor relations and "stock promoters" as implied by the author. Investors should be aware that the Company provided the exchanges with every investor relations contract as part of a full disclosure during the up listing process.
3. Multiple accounting red flags: This is a favorite of rumormongers and liars. Two S-1 registration statements have been declared effective over the past two years, most recently on May 15, 2014. In both cases there was a full SEC review of our financial statements and business descriptions. There have been no accounting changes since that full review.
4. Current auditor PCAOB deficiencies: Our current auditors were picked carefully to find quality auditors at reasonable rates. They were selected because they have an excellent PCAOB track record and because they are a network affiliate of the McGladrey group. This selection is consistent with many early stage companies that seek to upgrade their auditors as they prepare for an exchange listing. Investors that desire to evaluate the truth of the Pump Stopper are encouraged to compare the number and magnitude of PCAOB comments in the files of the big four audit firms against those of our auditors.
5. CHP business already failing with due diligence turning up serious regulatory issues: CHP is environmentally a "clean" energy solution that reduces the carbon footprint of the customer and saves the customer money on their energy costs. It is a proven technology that is favored by regulations, contrary to the false statements in the posting.
6. Traffic business has apparently already failed: This product is a new product that was only introduced into the market place in May. The response has been good, as measured by sales to date.
7. Law Enforcement Investigation: The Company is not aware of any prior or current investigation and believes the recent full review of securities filings and the recent exchange up-listing support this belief.
8. Freedom of Information letter: This is a form letter that is generated in response to such requests. This letter is in no way an indication that an investigation is either occurred or is on-going. Please read the following quote from the letter. "It is the general policy of the Commission to conduct its investigations on a non-public basis. Thus subject to the provisions of FOIA, the commission does not disclose the existence or non-existence of an investigation…"
9. Summary Statement: Management has been involved in public markets for approximately 30 years. We pride ourselves on our corporate governance and public company management. We have never had a re-statement or an allegation of wrong doing by a regulatory body. The Company is investigating what actions can be taken against parties that spread false allegations for their personal gain at the expense of our shareholders and our Company."
BBLU is engaged in the clean technology industry with a primary focus in energy efficiency and renewable energy sectors. We strive to participate in the global movement for a sustainable planet by offering products and services that will optimize energy use, reduce harmful environmental emissions and materially reduce energy costs to our customers. For more information about Blue Earth, Inc., please visit www.blueearthinc.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical facts included in this press release are forward-looking statements. These statements relate to future events or to the Company's future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. Such risks, uncertainties and other factors, which could impact the Company and the forward-looking statements contained herein are included in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.