Updates regarding the WindStor project in Ishpeming Michigan
August 25, 2008
At the request of McKenzie Bay International Ltd, MTI is respecting
this request by removing the previously posted reports of progress
regarding settlement agreements signed on August 21, 2008.
MTI vs. MKBY / WindStor -- MTI
Files Complaint 12-28-2007
Please review the verified complaint filed by MTI on Dec.
28, 2007 at the link below this statement. This action was necessary to state
the facts, to move toward the completion of Ishpeming, to protect MKBY
shareholders and their investments. The following points will give the readers
of this announcement greater details.
- MKBY/Windstor management has refused to communicate in
any way (meeting in person-requested by MTI several times, phone, email,
fax) since October of 2007 with MTI.
- MTI has expended substantial amounts of time and
resources to complete the Ishpeming project. However, at every step in this
process, MKBY/Windstor has interfered in this completion.
- MKBY stock issuance to MTI was to be used at MTI’s
discretion to reduce outstanding debt and to negotiate vendor contracts.
MKBY owed suppliers and contractors for work completed, in progress, or to
be completed in order to finish the Ishpeming project.
- MKBY not only tried to break the contract with MTI and
recall the entire stock issuance, but they also would not allow their
engineers to continue working with MTI to complete the Ishpeming project.
- Despite all that has transpired, MTI would like to
complete the Ishpeming project. They have invested heavily into the project,
have arranged completion agreements with suppliers and contractors, and have
enhanced the project with other renewable energy elements (solar with Uni-Solar
and energy storage with Cobasys) that MKBY had nothing to do with. Even
though MTI was only the sales agent for MKBY, they have taken on
responsibility of completing the project with the full cooperation of the
existing Board of Directors (which is the existing management of Mckenzie
Bay). The people of Ishpeming, the city and, especially, the housing
commission, have waited patiently for this project to be completed and MTI
wants to honor their loyalty and commitment by finishing what was started
(and should have been completed) two years ago.
View MTI's complaint filed
12-28-07
(4.15 MB allow time to load)
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