MNGA decent move today Ray on above the avg 10 day volume. Let's see how she fares tomorrow.
This came out (below) on 15 July and they announced then that they would be providing a final report by the end of Aug to them. Perhaps today's move and volume was a precursor to that. That's what I had mentioned to you about a few weeks ago.
MagneGas Corporation ("MagneGas" or the "Company") (MNGA) a leading technology company that counts among its inventions a patented process that converts renewable and waste liquids into MagneGas2(R) fuel, announced today that the successful results of its recent testing of its developmental wastewater sterilization equipment have moved the Company a step closer to entering the septic water treatment market.
In June and July, the Company deployed its 50 KW mobile sterilization system at a Florida septic wastewater treatment facility. Initial results of the processed samples analyzed by an independent laboratory indicate significant reductions in pathogens. Additionally, these preliminary results are indicating reductions in Nitrogen, Phosphorus, and Potassium. MagneGas will continue to test at this facility during the next few weeks and will be providing a final report to the waste treatment facility, based on the analysis of the independent laboratory, by the end of August.
The Florida Department of Environmental Protection estimates that 1/3 of Florida residents use septic systems for disposal of their wastewater. Septic waste is generally collected and treated by privately owned corporations. The Company believes that the barriers to entering this market will be lower than the municipal government owned sewage treatment facilities. Further information regarding this market can be found at this link:
