Lasted edited by Andrew Munsey, updated on June 14, 2016 at 9:27 pm.
Page for skeptics to post their concerns / observations / reports regarding Directory:Krystal Planet.
http://www.sos.mo.gov/securities/orders/AP-05-42a.asp - includes the document which describes the resolution of this matter in the form of a Consent Order.
From the posted CONSENT ORDER agreed to by Save the Planet Energy and the Missouri Secretary of State's office in the matter of Save the Planet Energy Corporation, Krystal Energy Corporation and Troy Helming -- On August 22, 2005, the Missouri Securities Division received information from the Missouri Public Service Commission (“PSC?) that included sworn testimony from Helming on June 23, 2005, in which Helming served as an expert witness on behalf of the Sierra Club in an action before the PSC to fight the construction of a new coal-fired power plant wherein he stated, among other things, that: "There is less than $10,000 in the Future Wind Fund today." On a Krystal Planet Tuesday night Krystal Planet Corporate Update call in January, 2005, Troy Helming said that there was "almost $100,000" in this escrow account. There appears to be a discrepancy here, which appears to evince false advertising and bad business practice to sell a product that promises to put 1/3 of the proceeds from the sale of the product into a restricted escrow account and then not do it. More here: http://www.sos.mo.gov/securities/orders/AP-05-42a.asp
Response from Krystal Energy Corporation:
The Missouri securities matter was settled favorably. See the settlement consent order listed on the Missouri state website: http://www.sos.mo.gov/securities/orders/. Krystal Planet was dismissed from the case altogether.
Krystal Planet has funded over $160,000 of wind development activities thanks to its FutureWind customers. Therefore, in January 2005 there was indeed nearly $100,000 of funds available for wind projects, most of which was spent in 2005 on actual wind project development. At the time Mr. Helming was testifying to fight to stop the coal plant, his figures were accurate in that most of the funds had been deployed by that time. This has led to a 30-year contract to sell wind energy from a small utility-scale wind turbine project in Haskell County Kansas. Our customer is awaiting approval for the acquisition of the land for our wind turbines, which has been delayed several times through no fault of Krystal Planet or its affiliates but is expected to close in early 2007. Once our customer has approval for the land, Krystal Planet's partners will begin construction of the wind project and place formal orders for equipment. In 2006, Krystal Planet began funding wind development of small turbines for schools. As of November 1, 2006, four (4) schools have signed letters of intent and/or otherwise agreed to have a Krystal Planet wind turbine located on school property. Delays from the wind turbine manufacturer have slowed this process, but Krystal Planet expects to have at least (2) educational wind turbines installed at schools by early 2007. Krystal Planet issues an internal audit report of the funds collected from FutureWind sales and spent on wind development. This report is available at www.krystal-planet.com or by request to mailto:email@example.com.
Krystal Planet's parent company, Krystal Energy Corporation, engaged a new auditing firm in late 2006. An internal audit of green tag sales is available upon request: mailto:firstname.lastname@example.org
For any concerns one may have about Krystal Planet's Wind Development Fund, feel free to request a report and internal audit showing how much in funds have been spent in 2004, and in 2005, on wind projects. At any given time this fund's balance will vary based on expenses incurred for wind project development. In 2004, Krystal Planet exceeded its obligations by more than 10% for wind project fund contributions and actual expenses. In 2005, the final numbers are not in as of late January but it appears Krystal Planet will have exceeded its obligations by more than 12% for wind project fund contributions and expenses. Both reports are available upon request to Krystal Planet customers and dealers.
Skeptics exist, led by Barbara (Bobbi) Walker (a former contractor who was terminated) and James (Jim) Fulbright (a former employee who was fired), who would have you believe any number of false, misleading, and disparaging statements about the company and its founders or management.
Take as much time as you need to investigate Krystal Planet or any other company you're considering doing business with, and of course, pay heed to your intuition and seek both sides of any story.