Alliance Suspends Reporting Obligations
Our shareholders are advised that the Company's Board of Directors authorized the filing of a Form 15 with the U.S. Securities and Exchange Commission ("SEC") to suspend the company's SEC reporting obligations under sections 13 and 15(d) of the Securities Exchange Act of 1934. Upon filing of same, our common stock will no longer trade on the Over the Counter Bulletin Board (“OTCBB”) and will only be available for trading on the Pink Sheets.
We do not feel the quoted trade price on the OTCB has been a true reflection of the Company’s value for a substantial period of time. In January of 2007, immediately prior to the stock being publicly quoted, the Company was valued at $94 Million on a going forward basis by independent third party experts. A Form 8-K was filed with the SEC at that time disclosing such valuation to the public. Since that time, we believe we have done nothing but continue to add value.
The following sets forth some of the work that we have accomplished since such time to increase our value:
- completed preliminary agreements for a co-locate site;
- located a purchaser of our electricity;
- developed relationships with carbon black purchasers;
- gained support from the New Jersey Board of Public Utilities;
- commenced dialogue with the Department of Energy through our consulting engineers at Resource International;
- developed a process technology that is unique from an economic and operational perspective according to consulting engineers;
- are moving towards a financing agreement to allow us to take the required steps to complete the Mannington installation.
Changes in the US economy since the spring of 2008 have taken a toll our project funding efforts. However, as a result of the continued financial support by our directors and some larger shareholders, we have continued to work toward our ultimate objective of the completion of a showcase installation in New Jersey. Our plan calls for a rapid expansion of Alliance installations in major US population centers. A similar expansion in Europe is possible through a strategic alliance with an established engineering and business group.
It is our hope that moving back to the pink sheets will reduce immediate costs and allow the Company to use its resources in a more productive manner that will allow it to complete the financing, construction, assembly, and startup of the showcase facility. We believe that this is in the best interest of our shareholders. Furthermore, we are committed to doing what is necessary from a business perspective to ensure that the Company’s showcase is completed thereby protecting our investment in this outstanding business opportunity. In the future, moving back to a larger exchange as a result of our success is certainly an option.
It appears that only after having an operating facility, can a share value reflective of our operations and potential be achieved. The rationale is simple. The Company operating a successful facility and moving forward with an expansion plan should be perceived as having greater value. However, there are no guarantees, as the current economic environment seems to have jaundiced even the most seasoned investors.
It is our hope that our investors will continue to share our vision as we endeavor to move ahead with a financial structure that will serve the Company and our shareholders.
Investor Relations
Alliance Recovery Corporation
1000 N. West Street
Suite 1200
Wilmington, Delaware 19801
Tel: 302 651-0177
Fax: 302 651-9177
arrcburnsit@netscape.net
