Recent posts at Andrea Rossi’s blog indicate that he may have lost control or some control over his ecat low energy nuclear reaction device and his Leonardo Corporation. Last week in response to questions about Dick Smith’s millionaire challenge Rossi admitted he couldn’t take the challenge because his company has apparently been sold to a trust of investors.
Andrea Rossi
Rossi stated that even though he was CEO but he would have to check with the trust’s lawyers to see if he could accept Smith’s offer. Now in a response to a poster Rossi admits that he has dropped his deal with the US electronics company National Instruments because the investors have made arrangements with another supplier. Rossi doesn’t say who the supplier is.
This could be an indication that the investors are not Americans or have links to some other large electronics company. It would be nice if Rossi revealed who they are. An intriguing possibility is the Chinese government or one of the companies that it and its military the People’s Liberation Army own.
When somebody named Iggy Dalrimple (nope not making that up it was the name he used) asked if any of the stockholders were a well known venture capitalist or a well-known corporation. Rossi said simply no comment. This seems to indicate that Iggy’s knowledge of business is limited. To issue stock Rossi’s company would have to be publicly traded as far as I know it is not. Leonardo Corp is apparently a private company which gives the owners total control.
When asked who owns his technology Rossi had this to say:
Andrea Rossi
February 22nd, 2012 at 6:42 AM
Dear Daniele:
All the tech is in an escrow to which will have access some persons just in case.
F.T. process has nothing to do.
Warm Regards,
A.R.
This would seem to indicate some kind of venture capital deal. Rossi is still playing things very close to the vest. When asked about putting photos of his new robotized ecat factory on the web Rossi didn’t want to do so because the Puppeteers would unleash their snakes and make it hard for him to work in peace. Note Rossi hasn’t identified who the Puppeteers or the snakes are although he alleges that Steven Krivit is one of the snakes.
Still it would be interesting to know who the Puppeteers are and who the investors’ trust is. It is also interesting to note that Defkalion has revealed where it’s factory is.
A final thought about Dick Smith’s millionaire challenge here. The details of it I’ve seen on line are that he wants to pay $1 million if an LENR device generates heat for six hours straight under its own power. That doesn’t seem like much time to me. To be a useful power source such a device would have to run for several months or weeks. Both Rossi and Defkalion will have to do this if they hope to sell their technology.
Rossi could tell the “offer” was not real and did exactly what I do to telemarketers. I tell them I don’t make the purchasing decisions.
If he is CEO then he certainly has full control of his company.
If Defkalion successfully shows they have a better product than Rossi I would be surprised if he could remain in business. AR ecat seems very inferior to what Defkalion CLAIMS to have.
Legally Rossi could lose his shirt. His absence of valid demo will bite him
rossi can stay in the race since at the beginning there will be place for everybody.
moreover I think that rossi problems are only because he is not very competent… his company using classic engineer (as he did with Ni and the client, now investor) will solve the proble like defkalion dis.
it tooks 6 month for DGT to launch the first specifications, based on their works, and with 4 more month it seems they even better control the reactor, test new catalysts, increase temperature above 900C…
LENR are easy to engineer.. hard to patent.
goo news for the world.
and hard time for entrepreneurs, that will have to innovate (like rossi with the supposed e-kitten) to survive, and at least to deliver quickly befor the competitors eat their butt.
does joe izuzu work for Rossi?
Yes indeed. IF ands and butts were candy and nuts we’d all have a Merry Xmas.
This whole charade has officially”jumped the shark”.
I think the official date is when Rossi refused an easy
million bucks from Dick Smith.
IF Rossi had a tenth as many functioning E-Cats as he has excuses, the world would be awash in the technology already.
There’s a poll on my website to guess the anticipated reason that Defkalion will fail in their tests (starting today?) as well.
Enjoy.
I’ll ignore your website. PS I think Dick Smith jumped the shark when he got involved. Your poll proves nothing.
He hasn’t lost control of anything. It’s just another one of Rossi’s stupid excuses he comes up with when someone challenges his hoax/scam. Even if what he says about the board of investors is true you know there would have to be some way for the company to make decisions. Don’t you think the investors would want the free $1 million? Wouldn’t they want to show the whole world that their E-Cat tech really works?
No offense intended, but you should probably check your facts before accusing someone else of having limited business knowledge. In this case you are pretty much entirely wrong – nearly all corporations, public or private, issue stock to founders/investors. This is generally how they track ownership. “Public” just means that the stocks are traded between/among the public.
“Iggy Dalrimple’s” question was perfectly valid, and well phrased.
Your post indicates limited business knowledge in the United States an IPO has to be registered with the SEC in order for stock to be traded. You can sell interests and ownership without trading stock. There are many kinds of corporations many of which such as LLCs do not issue stock. PS I hope you don’t try doing what you said. In the USA you would be violating the law.
IPOs are the way to go.
That way corporate piggies can hoover up the swill for decades.
“Our Green Widget is the best green widget”
Oh, dear….running low on swill!
Time to issue some more share options.
Did I mention – insider trading, short selling, filthy great porkies, safe harbour?
Welcome to the wonderful world of GREEN WIDGET SCAMMING.
My concern is different that the others who have so far posted comments: I hope that Rossi hasn’t sold out to fossil fuel concerns. The amount of money out there that wants the status quo to continue is almost unimaginable.
It would be an ironic and tragic turn if Rossi’s claim to fame is that he boosted the moral of other LENR researchers – spurring them with the belief that there was a LENR formula out there that produced a commercializable COP.