Is this the company that recovered the 1 million board feet of wood kgem was talking about? Yes
The article is from 2001. Is this old HIMR? No, it is a different company, but it is the same technology and some of the same people were connected with AQCI - Lonnie Hayward was VP, Michael Lacy was IR, and Frank Van Vranken was COO. Gary Ackles held ownership of the technology seperate from AQCI which he created for using it for underwater harvesting and which had an exclusive licence for this kind of usage. It was called Aquatic Timber Harvester then and was rebranded later as Tiger-Lynk. Tiger-Lynk was sold to AQCI in 2006 and later to HIRS in 2008 which is how it gets connected to HIMR.
"We've actually been offered another project in Northern Brazil, also in the Amazon. There's another reservoir that the Brazilian government has offered us, and it's 900,000 acres" What happened to this project? They failed to get funding for it.
"Mr. Ackles: The one we're building now is going to be the fourth and right behind this one is the fifth, and on from there" - Where are the first three? Why aren't they being used now? I don't know, hopefully they already are being used. When Tiger-Lynk was sold, it said patents and equipment were exchanged, so hopefully those have been sitting in a warehouse awaiting use. Remember when I told you I thought Ackles incompetence was the cause of AQCI's failure - this was one of the points I had in mind. It seems moronic to build so many machines, when you haven't got the concession you want yet. A machine can't be leveraged, the resource in a concession can. The machine is lower priority, you build one. Notice he notes the one Tiger-Lynk down there was harvesting faster than they could keep up. When HIMR priced the cost of building a Tiger-Lynk, I think the number was about 600k. By building so many, he may have imposed a financing burden on the company it couldn't bare without subsequent financing that didn't arrive. The article is dated 4/16/01, maybe a year after that they were spending a lot of money promoting themselves to try to secure financing and a little less than two years after this article they went bust due to lack of financing and he resigned. When I read this interview, I read it like a shareholder and it pissed me off. I think this dreamer had no business playing CEO. He is the inventor and of course he is brilliant in his way, but he shouldn't have hired himself as CEO.
For any one out there who worries about AQCI as a dilution scam, I don't see that. Actually they probably could have saved themselves from their mistakes if they would have diluted the hell out of it. Only a small portion of that puzzle is available, so we can only speculate. Wood would have been cheaper than.
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