there were several reasons for its fall from grace,
The liquidation of the financial options group being the main one, a manangement issue which was un-nerving for some shareholders, the possibility that EEL would not secure finance for the Gold Coast and Morwell Plants. etc etc.
Since then the Company has;
* Removed undesireable management
* Established a relationship with ANZ Infrastructure
* Signed up for a $7 million Equity Line of Credit
* Envirostar Registed wih "ORER". Envirostar Energy is now registered on the Renewable Energy Certificate (REC) Registry of the Renewable Energy Regulator (ORER) in Canberra. see http://www.orer.gov.au
* EEL Envirostar featured in a 10 minute interview on CNBC on the Australian Business Centre program with Mark Laudi and Amanda Drewry
A major media campaign is also expected during the launch of the Gold Coast Power Plant with Turbine installation due within 14 days.
Hope some of this helps and demonstrates why I am so keen on this company. EEL is also considered an ETHICAL INVESTMENT as it enviromentally friendly/ socially responsible in its nature.
SINATRA
Key Annoouncement headers below>
15 Apr 2002 10:54 EEL Signs up for $7 million Equity Line of Credit
11 Apr 2002 16:52 EEL Withdrawal from Heads of Agreement with TVS
26 Mar 2002 14:23 EEL Registers with ORER
15 Mar 2002 17:10 EEL Half Yearly Report & ASIC
14 Mar 2002 10:56 EEL Current Activities: Renewable Green Waste to Energy Project
26 Feb 2002 16:00 EEL Final Director`s Interest Notice
25 Feb 2002 16:54 EEL Director Resignation
20 Feb 2002 12:43 EEL Progress Report - 5 MW Stapylton Green Energy Power Project
18 Feb 2002 16:15 EEL Requisition by shareholders re: Removal of a Director