A friend asked me how a supposedly brilliant person like Con
D Rice could have got involved in the Kior Caper? First let me explain Kior and who was behind
them. Kior is the fraudulent company that
was to produce diesel and gasoline from pine trees using a “special white
catalyst”. Of course thermodynamics
showed they were hyping and now the State of Mississippi that lost $75 million
in a loan to the gangrene bankrupt company is suing numerous shareholders,
directors, and officers of the company.
The lead promotor of the fake technology is one Vinod Khosla. Khosla claimed to be the guru of green.
Khosla was dinner host to Mr. Obama at a fundraiser in his
home. Khosla has Toxic Tony Blair as
well as Con D Rice as advisors and even placed Con D on the board of directors
of Kior just about the time of their Initial Public Offering on the NASDAQ. The day before the IPO, Kior announced Con D
would join the board a week later. Of
course the timing is not coincidental. It was done to hype the IPO.
The US DOE got cold feet on Kior a few months before the IPO
and did not make the $1 billion loan that a term sheet had already been executed
for to fund this absent loan. In about a month under the freedom of
information act, I should get the independent engineer’s assessment of the Kior
technology that was given to the US DOE.
My hunch is this report was critical of the Kior technology and that is
the major reason why the DOE pulled out of the loan
The placement of Con D on the board was a way to keep the
IPO going as the IPO then became the critical source of funding for the
continued folly of trying to make diesel and gasoline from pine wood. Con D became an advisor to Khosla in December
2012, 18 months after the joining the Kior Board of Directors. This proves the relationship during that time
and also beyond was good, and Con D believed that Khosla was a greentech guru.
On December 23, 2013, Con D resigned from the board of
directors of Kior. But her problem is
she falsely hyped the company nine months earlier on March 18, 2013.
Con D’s other problem
is she sold shares as an insider in the company for a profit on March 30, 2012. The
share trade was nine months before it was announced she had become an advisor
to Khosla. Maybe the share trade was the
conception and the advising was the birth of this wonderful relationship?
As Con D is not a cretin, one has to believe she believed in
Kior, or she was given information by others to believe in Kior, or she simply
was greedy. I do not have her attendance
records at board meetings but the Stanford professor had to have believed the
alchemy was real for her to insider trade the shares in March 2012 and then
hype the stock a year later in March 2013.
I would doubt that Con D and Khosla are very tight
today. I would also doubt that Toxic Tony
Blair does much advising to Khosla any longer in the green space. Con D is lucky she actually joined the board
a few days after the IPO, that she never signed the S1 for the IPO, and that
she was not in the board room when they discussed the DOE loan that was yanked
from the company. However, Con D did
insider trade shares for a profit and did issue a false hyped statement about
the reality of Kior’s ability to produce substitute fuels from pine trees that
are normally derived from oil. Con D
must answer for this. Khosla must answer
a longer list of questions including his role in myriad other thermodynamic
fakes. He even has a role in the Bloom
Energy Bloomdoggle. Yes Khosla is no
Green Guru.
Great work. Keep this before the public or Khosla will dream up another swindle. He took Georgia for millions with bankrupt Range Fuels.
ReplyDeleteJames H. Rust, professor of nuclear engineering
Prof Rust. I sent this to Con D Rice and Stevie Not So Wonder Chu at their Stanford email addresses. Con D is a war on carbon criminal. Chu knew Kior was crap but failed to warn Mississippi and his friend Con D.
ReplyDeleteProf Rust Vinod Cost Us does not have the guts to debate me on twitter. This thermodynamic fool Cretin imbicile idiot operative is Chicken or his lawyers told him he is headed to the can. So he blocked me on twitter. He thinks twitter is Martin's Beach and he own it.
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