Thursday, November 25

Roswell funding: AEHI was "about to sign" on 11/1/10

You'll remember the 11/1/10 announcement:

"AEHI Signs $150 Million Funding Commitment with Institutional Investor Roswell Capital Partners to Fund Nuclear Power Plant Site

BOISE, Idaho, November 1, 2010 - Alternate Energy Holdings, Inc. (OTCQB: AEHI,, announced today the signing of a $150M Equity Funding Facility with Alpharetta, Georgia based Roswell Capital Partners, which is designed to fund the initial phase of a nuclear power plant project in Payette County, Idaho. The funding proceeds will be applied towards the land, water rights and the Nuclear Regulatory Commission application."

I don't know about you, but I read that as if the company had ACTUALLY signed something. Not true! What the company meant to say according to the just now released form 8-k  was:

"On November 1, 2010, the Company issued a press release announcing that it was about to enter into a definitive agreement with the investors."

Well that's convenient! Because according to the instructions for form 8-k:

"Companies have four business days to file a Form 8-K for the events specified in the items in Sections 1-6 and 9 above."

After that clarification about its original press release AEHI proudly claims:

"This Current Report 8-K is filed within the prescribed time frame following the execution of the definitive agreement."

I doubt that the SEC will be amused!

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