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I doubt thats going to happen anytime soon
http://www.sec.gov/litigation/suspensions.shtml
Suspended 6/15/10. From SEC site
"The Commission temporarily suspended trading in the securities of the foregoing companies due to a lack of current and accurate information about the companies because they have not filed certain periodic reports with the Commission. This order was entered pursuant to Section 12(k) of the Securities Exchange Act of 1934 (Exchange Act).:
TIME FOR RE ACTIVATION
Yes this share structure is very attractive. All it is going to take is for someone to take notice of how little it would take to gain control and go for it. If someone wanted a public shell this would be a good one, in my opinion. Is anyone else out there watching this thing? I forget about it but then days like today make it show up on my percentage gainer list. My meesly share count doesn't do much for my account balance but if it ever hit a dime I could buy a new TV.
THE SHARE STRUCTURE MAKES IT VERY ATTRACTIVE
ESCI MOVING UP BIG TIMEEEEEEEEEEEEEEEE
Nobody has posted on this in over a year but its moved a little over the past few days. Hosta you still around? I wonder how many shareholders there are to this. How many meaningful holdings. There are not a lot of shares o/s. Some company wanting to go public could do so rather cheaply by aquiring a controlling interest in this thing. Especially if all that info about AES being responsible for the clean up etc is correct. That would make this a very clean shell. I think the liabliity concern holds this back but if the other company is responsible for that this is a very attractive shell. Does anyone else have any info about this thing or any links to anything that confirms the prior statements?
Thanks-
I havent been around for the last week, Bit next week all week I will have orders in
This needs to dip so I can add some more...
ADA-ES transferred
$100,000 in cash to the Company and assumed notes payable to Tectonic
Construction Co. totaling $1,150,000. ADA-ES also assumed other indebtedness
from ESI in the amount of $130,000 related to deferred compensation for past ESI
employees.
I'm not able to get much info on the lawsuit, just what has been said in the Canadian Nuclear comission hearings. I think if we win the lawsuit against westco it will pop up , and if we lose it will pop anyhow because ADA-ES will have to pay the bill, because in the spin off agreement ADA-ES has taken all ESCI'S liabilities...
I took the 40,000 at .oo21 and ten minutes later somene took 200 thousand up to .0035 then yesterday 500,000 took it up to .0050.
I wish i would have grabed them all.
Yep, maybe something is up?
Again today some volume. I'm sure somebody will run it one of these days.
ADA-ES Merger
On February 18, 1997, ESI signed a Letter of Intent to acquire a majority equity
position in ADA Environmental Solutions LLC ("ADA") through a combination of
stock and cash. The acquisition was prompted by synergism involving products to
be produced by the solvent extraction facility in Calgary. These products will
be utilized by ADA in a new proprietary technology designed to reduce
particulate emissions from plants burning low-sulfur coal. It is expected that
the 1990 Clean Air Act Amendments will result in 600 to 800 coal-fired boilers
switching to low-sulfur coal by the year 2000. ADA anticipates capturing a
significant portion of this market with its proprietary non-toxic chemical
conditioner which offers both technical and economic advantages over the
hazardous chemicals currently being used. The closing of the acquisition,
scheduled for April 30, 1997, is subject to a number of preconditions, including
the negotiation and execution of definitive documentation
ADA-ES is an environmental technology and specialty chemical company that brings 25 years of experience to improve responsible profitability for electric power and industrial companies through proprietary products and systems that mitigate environmental impact while reducing operating costs.
In September 2003, ADA-ES was spun off from its parent company Earth Sciences, Inc. (ESI) and began trading as a new publicly traded company.
ADA-ES is traded on the NASDAQ Small Cap Market under the "ADES" ticker symbol.
Presentations
Recent presentations about ADA-ES:
2+2 =4
(These are .pdf files requiring Adobe Acrobat Reader. To download a free copy of Adobe Acrobat Reader click here.)
* ADA-ES, Inc. - July 17, 2007- Capstone Investments Small-Cap Conference
* ADA-ES, Inc. - April 2007- Presentation at Howard Weil Energy Conference
* ADA-ES, Inc. - January 2007 - Presentation at Pritchard Capital Partners 2007 Energize
* ADA-ES, Inc. Annual Meeting - May 10, 2007, Presentation
* ADA-ES, Inc. Overview
SEC Filings
Reports and Section 16 filings
Events
ADA-ES Conference Call
Event: Second Quarter Financial Results
Date: Wednesday, - August 8, 2007
Time: 9:00 am - ET
Speaker: Michael D. Durham, Ph.D., MBA, President
Mark H. McKinnies, Senior VP & CFO
(Click here to listen to the conference call.)
ADA-ES Presentation Canaccord Adams 27th Annual Global Growth Conference & Webcast
Event: Presentation
Date: Tuesday, August 7, 2007
Time: 10:00 am ET
Speaker: Michael D. Durham, Ph.D., MBA, President
Mark H. McKinnies, Senior VP & CFO
(Click here to listen to the presentation.)
ADA-ES Conference Call
Event: Discussion of Activated Carbon Strategy
Date: Friday , July 27 , 2007
Time: 8 : 3 0 am ET
Speaker: Michael D. Durham, Ph.D., MBA, President
Mark H. McKinnies, Senior VP & CFO
(Click here to listen to the conference call.)
ADA-ES Presentation at the Capstone Investment 2007 Small-Cap Conference & Webcast
(webcast available by July 18th)
Event: Presentation
Date: Tuesday, July 17, 2007
Time: 11:30 am ET
Speaker: Michael D. Durham, Ph.D., MBA, President
Mark H. McKinnies, Senior VP & CFO
(Click here to listen to the presentation.)
ADA-ES Presentation at the Thomas Weisel Conference & Webcast
Event: Presentation
Date: Thursday, June 14, 2007
Time: 10:00 am ET
Speaker: Michael D. Durham, Ph.D., MBA, President
Mark H. McKinnies, Senior VP & CFO
(Click here to listen to the presentation.)
ADA-ES Upcoming Meetings
Next Board Meeting: September 27, 2007
Other Information
* Analyst Coverage
* Stock Quote
* Investor Relations contacts:
o The Equity Group www.theequitygroup.com
o Loren Mortman at (212) 836-9604 or lmortman@equityny.com
It's an interesting story, the Canadian Nuclear Safety Commission orderd site cleanup by November 07. ESI leases the site from Westco.
Earth Sciences, Inc. ("ESI" or "Registrant", which term includes its
wholly-owned subsidiaries unless otherwise indicated) is a diversified mineral
exploration and development company. ESI was incorporated under the name of
Colorado Central Mines, Inc. in Colorado in 1957. The major activities of the
Company include the ownership of a currently idled chemical facility in Calgary,
Alberta; and the maintenance of several mineral resources and prospects in the
Western US. In May 1997, ESI acquired a 51% equity position in ADA Environmental
Solutions, LLC ("ADA-ES) through a combination of stock and cash. The
acquisition agreement provided for payments of cash and notes and included an
option for ESI to acquire the remaining equity interests. In May 1998, Earth
Sciences exercised that option, acquiring a 100% interest in ADA-ES by issuance
of 1,716,000 shares of stock to the shareholders of ADA-ES in exchange for all
their shares in ADA-ES. In March 2003 ADA-ES and ESI entered into an agreement
for the pro rata distribution of all the common stock of ADA-ES to the
shareholders of ESI. The distribution occurred on September 12, 2003 based on a
record date of August 29, 2003 as set by the ESI Board of Directors. The
distribution resulted in ADA-ES being a separate company operated apart from
ESI.
During 2003, ESI, through Earth Sciences Extraction Company ("ESEC"), studied
and pursued the use with others of the idle facility in Calgary for a variety of
potential activities, and maintained its position in several mineral resources
and prospects in the Western US.
ESEC is a wholly owned Canadian limited partnership of ESI. ESEC owns a solvent
extraction facility in Calgary, Alberta that remained idle during 2003, except
for some limited sublease activity. ESEC has entered one sublease agreement for
a portion of the facility, executed a letter of intent for use of a portion of
the site and is in discussions with other parties on further sublease
arrangements. ESEC has initiated steps to sell major pieces of equipment that
would not have general use in the planned subleasing activity. The net proceeds
from such planned sales will be used to fund overall operations and expanded
activities at the facility. There can be no assurances that Registrant will be
able to successfully arrange sublease agreements on the majority of the facility
and site.
ESI did not plan nor did it conduct any significant mineral exploration or
development activities in 2003. ESI is developing plans for limited mineral
exploration or development activities in 2004 dependent upon the availability of
funds, and also intends to maintain the mineral interests in alunite, phosphate,
and vanadium it currently holds.
CALGARY FACILITY
ESEC's facility in Calgary, Alberta, recovered uranium from phosphoric acid
during the period from 1983 through 1987. Uranium oxide production was suspended
in the fall of 1987 when the adjacent fertilizer plant from which the facility
received its feedstock suspended operations. The contract under which the
uranium was sold was modified in 1990 to allow unrestricted alternative use of
the facility. Revamp of the facility to allow production of purified phosphate
products was completed in 1997. The Calgary facility routinely produced
technical grade phosphoric acid through August 1999 when operations were
suspended for lack of sufficient working capital. Efforts to re-start the
facility for such operations were frustrated by a general economic slowdown.
Management is seeking sublease arrangements for other activities at the plant
and is in the process of selling equipment that does not have general use.
Proceeds from those sales will be used to fund overall operations and expanded
activities at the plant in Calgary. There can be no assurances that subleases
can be arranged for the Calgary facility.
.................................................................
The Spin-Off
In March 2003, ESI and ADA-ES entered into an agreement to provide for the
distribution of the ADA-ES stock to the shareholders of ESI. In an effort to
maximize stockholder value, the ESI Board of Directors decided to separate its
significant operations into two separate businesses. Since ESI no longer
produces the chemicals needed for the ADA-ES proprietary environmental products,
there is no longer a necessary business connection between the two companies.
The separation allows ESI to focus on its mineral exploration business, while
ADA-ES focuses on its environmental technology/specialty chemical business. The
distribution has resulted in two independent public companies.
The separation of the two businesses was accomplished through a spin-off of
ADA-ES, Inc. In the spin-off, 100% of the outstanding shares of ADA-ES common
stock held by ESI were distributed to the ESI shareholders on September 12,
2003. In the distribution, the ESI shareholders received one share of ADA-ES
common stock for every ten shares of ESI common stock they held on the close of
business on August 29,2003, the record date for the spin-off. As required under
the Distribution Agreement with ADA-ES, in September 2003 ADA-ES transferred
$100,000 in cash to the Company and assumed notes payable to Tectonic
Construction Co. totaling $1,150,000. ADA-ES also assumed other indebtedness
from ESI in the amount of $130,000 related to deferred compensation for past ESI
employees.
RISK FACTORS
Ownership of the common stock of ESI is speculative and involves a high degree
of risk. Any prospective investors should read the information incorporated
herein by reference, and carefully consider, among others, the following risk
factors in addition to the other information set forth elsewhere in this Annual
Report.
Specifics Risks Related to the Company
--------------------------------------
No Dividends. The Company has paid no cash dividends on its Common Stock and has
no present intention of paying cash dividends in the foreseeable future. It is
the present policy of the Board of Directors to retain all earnings to provide
for the growth of the Company. Payments of cash dividends in the future will
depend, among other things, upon the Company's future earnings, requirements for
capital improvements, the operating and financial conditions of the Company and
other factors deemed relevant by the Board of Directors.
Going Concern, Lack of Positive Cash Flow and Lack of Profitability. During
2003, the Company spun-off ADA-ES and as a result, is suffering a loss from its
ongoing operations. In addition, it is involved in significant litigation (see
Item 3. Legal Proceedings) and does not have, nor is expected to have in the
near future, a positive cash flow. Apart from ADA-ES, the Company's operating
history has resulted in losses from operations for at least the last five years.
While certain of the Company's operations may be profitable during a given
fiscal year, the Company's operations as a whole may be unprofitable due to
exploration and development costs on properties from which no revenue is
derived, and to continuing corporate general and administrative costs. The
Company's continued operations are dependent upon additional advances or loans,
sale of assets, resolution of its litigation and ultimately achieving positive
cash flow from operations. The financial statements, included in response to
Item 7 below do not include adjustments, which may result in the Company's
ability to continue operations as a going concern.
Dilutive Effect of Issuance of Additional Shares on Current Shareholders. The
Board of Directors has the authority to authorize the offer and sale of
additional securities without the vote of or notice to existing shareholders,
and it is likely that additional securities will be issued to provide future
financing or in connection with funding future operations. The issuance of
additional securities could dilute the percentage interests and per share book
value of existing shareholders.
Volatility of Price for Common Stock. The market price for shares of the
Company's Common Stock may be highly volatile depending on news announcements or
changes in general market conditions. In recent years the stock market has
experienced extreme price and volume fluctuations.
The Calgary facility is located on a site leased from the adjacent landowner
who originally supplied feedstock to the facility in the 1980's. The lease
has an indefinite term, but upon ESEC's permanent termination of operations,
ESEC has a period of 24 months to remove all equipment, improvement and
structures erected on the site after which time such assets become the sole
property of the landlord. ESEC also has the obligation to return the site
and any surrendered assets to the landlord in a safe condition that complies
with the requirements of all statutes, regulations and ordinances. Although
ESEC has no current intent to terminate the lease and believes the site is
currently in compliance with all regulations, ESEC has accrued and recorded a
liability of approx. $691,000, as an estimate of the remaining costs it would
expect to incur to return the facility to the landlord under the terms of the
lease. The amount recorded is an estimate that includes significant
assumptions, and it is reasonably possible that these assumptions could
change in the future, and that such a change could be material. The landlord
commissioned a Phase 1 environmental study of the leased site. Although this
Phase 1 study did not include any costs estimates, the landlord has estimated
the cost substantially higher than ESEC's estimated costs. The difference in
estimates primarily relates to ESEC basing its estimate on revised quantities
of the waste on site, assumptions regarding future use of the building
(including the future cost to demolish the building), and supervision costs.
Any significant change to ESEC's estimates could result in further expenses
being recorded at that time.
During 2001 the landlord asserted that the cessation of operations at the
Calgary facility has resulted in the termination of the easement under which
a rail line services the site and threatened to take steps to prohibit the
use of and ultimately remove the improvements on the easement right-of-way.
In January 2002, ESIR filed a motion for injunctive relief to restrain the
landlord from interfering with use of the rail line. The landlord has agreed
to an adjournment of the matter to a future date and has agreed not to
interfere with the use of the rail line until the date of the hearing of the
Company's application. In September 2002, the landlord filed their Statement
of Defense and a Counterclaim asserting termination of the easement, the site
lease and another underlying agreement, requesting an order from the Court to
that affect and seeking damages in the amount of $6 million Canadian to
remediate, restore and reclaim the leased site and easement. In December
2002 the Company filed a Statement of Defence to the Counterclaim vigorously
denying breach of any obligation under the lease or easement, the landlord's
characterization of the cessation of operations, the termination of the
easement and site lease and that any amounts are due for reclamation of the
site. To the best of management's knowledge and belief, the Company is in
compliance with all permits and licenses issued for the construction and
operation of the facility. The Company will continue to defend its rights
for this rail line access to the site and the validity of the site lease. If
the landlord is successful in asserting the termination of the rail line
easement and site lease, it would severely affect the future economic
feasibility of any operations at the Calgary plant. While there is secure
truck access to the Calgary plant, the loss of the rail line easement could
decrease the possibility of some alternative future uses of the Calgary
plant. The financial implications of an adverse court ruling are unknown, and
therefore, the financial statements do not include any adjustment related to
this matter.
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