– Edited By Chris Reed –
Alternate Energy Holdings, Inc. announced CEO Don Gillispie will take a voluntary leave of absence until the court rules on the validity of allegations from the U.S. Securities and Exchange Commission. The AEHI Board of Directors voted to support the decision, which was offered by Gillispie. Gillispie has been the CEO of AEHI since founding the company in 2005. Gillispie adamantly denies the charges and has taken steps to fight the complaints in court.
Jennie Ransom will also take a voluntary leave of absence. Ransom joined AEHI in 2007 as corporate secretary and later vice president of administration. Her current position is president of Energy Neutral, a subsidiary of AEHI. Ransom has never maintained a position as an executive officer (line officer) for AEHI. She also denies any charges of wrong doing and is taking steps to fight the allegations in court.
"I am saddened that officials with the SEC did not follow up with me or my staff on these allegations prior to filing civil charges. Had they done so and we were given the opportunity to confront these issues, I am certain we would not be in this position today. My first priority is to this company and our stockholders. So I believe it is critical that I take this step for the welfare of AEHI and for the company's future in the nuclear power industry," said Mr. Gillispie.
AEHI is currently in the last stage of the local approval process related to building a nuclear power plant in Payette County, Idaho. On December 9th the Payette County Planning and Zoning Commission voted to recommend approval on the final process that would rezone agricultural property to heavy industrial prior to building a plant. Five days later the SEC suspended trading on AEHI stock pending allegations of securities fraud.
The company fully intends to continue with the Payette Nuclear project and its other business ventures.