Saturday, July 14, 2007

30 Investors

Back in August of 2006, in the Guardian Unlimited Article "These men thing they are about to change the world", the author makes this statement:

Last week, frustrated that they couldn't persuade scientists to take their work seriously, McCarthy, Walshe and the other 28 shareholders of Steorn, a privately owned technology research company, took out a full-page advertisement in the Economist. In it, they called upon scientists to form a 12-member jury to decide whether their free-energy system is real, hoaxed, imagined or incorrectly well-intentioned.
Someone here recently quoted that number, which made me realize that I should go take a second look at Steorn's Financials [google docs link] [excel link] (thanks anonymous). If there were more than 30 investors listed, I'd know that Steorn took additional funding, like the March 2007 document suggests.

What I found was that there are exactly 30 Steorn investors, two of which hadn't invested until the latest publication. I think this is reasonable evidence that Steorn has not taken any additional funding after their declaration. What do you think?

Update: As you can see in the comments, Thicket points out that according to the spreadsheet, there are actually 34 stock holders. I missed the three class B share holders and also the BES Scheme investment. Unfortunately, the numbers don't add up in either direction now. I guess I'm not that surprised things don't add up ;-(.


Anonymous said...

non-Google members can download the financial spreadsheet from here:

Anonymous said...

Check out the Flanagans listed as shareholders!!

I noticed very few other staff members listed as shareholders and none with what is presumably a family member as well, thought it strange!

Worth looking into when Seamus started working in Steorn..before or after the family investment..Ireland is full of nepotism.

Nothing worse than someone getting a job because of who they know and leaving more experienced people out.

Anonymous said...

A HTML version of the spreadsheet can be found here:

couldbe said...

Anonymous said...


Unless it's someone running an anonymous smear campaign.

Anonymous said...

Dr Folke Rohrssen, a German veterinary surgeon and founder co-founder of Eurogene Ltd is one of the shareholders in Steorn.

Anonymous said...

8.4M Euro in late March probably as a prelude to the July demo.
I suspect that the July demo really was supposed to "work", but did indeed break down. Not from little bearings which are trivial to fix, but probably from complex tiny motors like these:

We could never get close enough to check for motors, but there in there somewhere:

I suspect in the oddly fat brass bearing part on the upper side of the disk shown here:

One of these motors would be nice and could run for 10 days off a tiny battery:

So what happens now....

Either the game is up and it is time to run off with the money. Or, they will have to try a new demo very quickly. The big problem with another demo is this has so much attention that engineers and such are looking for motors. They can probably reproduce anything Steorn can show, in fact, they can probably make a far better fake orbo than Steorn can.
Have not heard much from Steorn lately, so maybe they are gone...

Thicket said...

Lol Steorntracker. Have you fallen victim to Steorn-math?

I count 34 shareholders. I suspect you missed the BES scheme and the three 'B' class shareholders.

These four are shareholders just like the rest except that the 3 'B class' shareholders are non-voting. The BES scheme has other requirements but is also a full-blown shareholder.

So if you take 34 shareholders, subtract the two new ones in 2007, you get 32 shareholders. If you compare this to the 30 shareholders listed in the media article, you clearly have an over-unity device (:->).

maryyugo said...

@anonymous about the bearings and motors:

I can't make the links work-- can you use tinyurl dot com please to shrink them down? It works great. Or ask someone to please help you make a clickable link like the one above.


Adam said...


The links work. The page is cutting the comments short though. At least in Firefox if you highlight the link to the right past the point where it cuts off, you can normally get the whole link.

But yes, actual links are much better in the long run.

Anonymous said...

Very interesting stuff in that shareholder list.

Do the negative amounts and percentages indicate Sean McCarthy et al are on margin?

Anonymous said...

Its rather strange considering who is and who isn't a shareholder if you take into consideration the names on the current Steorn patents.

Anonymous said...

Sorry about the chopped links. Here they are, but they are supposed to be on one line.

Here is a video of a perpetual fake from long ago that was pretty cool:

Anonymous said...

If you don't do anything else, watch this video from a scam of 200 years ago...

(should be on one line for your browser)

Anonymous said...

If you need to learn a free energy scam, learn it from a true master:

Steorn is just "stupid" compared to the real crooks ;-)

Anonymous said...

Not even the vast resources of Team-Titanium have been able to beat the orbo, YET!!!

But the race is on!! Build a better OerBlow, than Orbo!

Steorn has a head start, and a kick in the head, along with like 15M euro... But we have sanity and science (the real kind) on our side ;-)

maryyugo said...

@anonymous with the good and interesting links:

Sorry but you can't break up the links that way-- it's too hard to reassemble them. If you want to use HTML language but don't know how, please check this "primer". If you only wish to learn how to make a link, you only need to read this part. You can also practice your HTML in the "simulator" here.

If you don't want to use HTML at all, please learn to use It's very easy, requires no special knowledge and work extremely well. Also, it's free.

I did painstakingly splice some of your links back together and the one about the religious folks pushing free energy and Oerblow (a mock free energy site) are fun to see.

Here is a tinyurl for the "Oerblow" site: . Because the URL is short, it's easy to copy into the browser in one piece. Try it.

You might want to try one of the above for pointing people to internet sites in the future. Most people aren't as dopey as me while they are having their first morning coffee which is when I have time to look into this sort of thing while the rest of my brain is busy shaking off the cobwebs!

maryyugo said...

"The founders of Kings and Priests Ministries, Dennis Lee and wife Alison, are also the owners of Better World Technologies, an alternative energy company. "

Dennis Lee is an old vicious scammer from way way back. That's really interesting that he'd found a church. Wow.

Anonymous said...


Thanks for all the tips on the HTML stuff. Like teaching on old dog new tricks. Figuring out raw HTML is still #95749857 on my things to do list. But the tiny URL thing is fine ;-)

My first test suggest that you can run a 3.5 inch dia 1/4 inch thick disk at about 300 RPM with just 5mW! A 10 day run is then 4320 joules. A 0.5d x 0.3l Lithium battery could do that. But a copper wire only 0.002 inches in diameter could carry the current needed too...

So unless Orbo had a pretty substantial battery hidden (a fake magnet?), it might do the very fine wire thing for power. In any case, the drive system would be sort of fragile. If it broke, with would not be easy to fix... Hmmmm...

maryyugo said...

" But a copper wire only 0.002 inches in diameter could carry the current needed too..."

Hmmmm..... How could they think that wires or a microbattery and motor would get past Dr. Mike and his screwdrivers (not to mention magnifiers and all the other gear he probably brought with him-- in futility as it turned out)??

Loustic said...

hi, is the shareholder named John Cusack the famous actor from an Irish American Catholic family?