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Anyone talk to Seamus Lagan in the last year?
thanks for the reply steve, i think it is time to sell as i don't know too much about the company and it doesnt look like there has been much change in the price, could i do this if i set up an account with scottrade? moreover my shares are in certificate form so i guess i would i have to somehow turn them into electronic shares or something, i only have a few shares so i don't mind what price i sell them at, thanks again for the tips
this company has failed to produce, time to sell for whatever you can get...
IMHO.
Steve, You may want to hold a few more weeks since you have apparently had this for a while now. I don't know what broker you are using but I use Scottrade and they run trades through the MM NITE. I'm showing CCGE as ASK .70 and the BID at .028. Now, on my Quotestream L2 there is NO BID and the ASK is .35???? I place an order for the heck of it at .01 to see if would change on the quotestream and it did not. It is still there if you want to try. But, again if I were you I would hold to see if anything develops! Have you checked out Geotec Inc.? CGGE and GETC are STILL CONNECTED!!!!!
You can only sell if there is a bid.... and there is no bid...
Call the company or email them asking what to do, maybe they will buy them from you?
hi could someone please tell me how to to sell shares that i have in this company, thanks
yes, the birds have dropped that terd......
however, it looks like it's somehow attached to ALTV, and not CGGE...
so.... my stock is safe....for now...lol
scam: A little birdie told me that they are getting financing from Cornell. Now might be a good time to SHORT. LOL!
I'm not sure... I did email Seamus and get a response from him..
they are working on financing...
they are hooked up with GETC, and maybe another company from florida..
they were with GEECF and CSRZ
These boys need to be hooked up with USSE!!...et z
And it's ALTV getting the 19-1 FS, not CGGE....et z
Right. ALTV is the holding company, right? No way to trade it I can see...I emailed them and told them I want some shares...lol.....z
ALTV is different then CGGE, owned by the same people but not the same cusip...
http://www.pinksheets.com/quote/company_profile.jsp?symbol=ALTV
http://www.pinksheets.com/quote/company_profile.jsp?symbol=CGGE
Sell me some of your shares, and I'll tell you....
lolol:
http://www.otcbb.com/asp/dividend.asp?sym_id=ALTV&dDate=7/9/2007&sDateType=ex_date
z
ATurd says the symbol is invalid......z
hey where did you see that...?
I don't see it on the daily list?
I want some..where can I buy it....lol...et z
I own a nice chunk of it... one of the few, because the company insiders own 99% of the float and A/S...
Gonna have a 19-1 FS.....et z
man has this one fallen and become dormant...eom
how come these guys are doing this??? and our beloved Seamus and Bradley Ray are sitting on thier duffs not paying the lease.... difference is being organized....
Green Energy Resources (GRGR) Files 15c211 With NASD; Selected to Chair 2007 North American Bioenergy Conference in Chicago on April 16th
Green Energy Resources (PINKSHEETS: GRGR) filed its 15c211 with the NASD last week. The 15c211 filing will elevate GRGR's ranking to "Solicited" from "Unsolicited" status on Pink Sheets once approved by the NASD .The filing is a part of the company's ongoing process to build a sound and solid reputation as a quality stock for shareholders. Green Energy Resources intends to expand its institutional shareholder base and increase its confidence level with current shareholders. The step is essential to becoming fully reporting .The company has limited the float to 15.5 million free trading shares. Green Energy Resources has raised no public money, has no debt and recorded a profit in its first 3 years of operation. The NASD will review the 15c211 but has no set time line for approval.
In other company news, Green Energy Resources has been selected as Conference Chairman of the 2007 North American Bioenergy Conference in Chicago on April 16th. The event is expected to be well attended and include a keynote address from Lester Brown, President of Earth Policy Institute and US Under Secretary, Thomas Dorr with the US Department of Agriculture. Other notables expected in attendance include Cargill Emission Reduction Services, Ecosecurities, Evolution Markets and Shell Oil US. Green Energy Resources will unvail its carbon offset emissions credit plan to the two largest international Emissions traders at the conference.
UTCS and Carbon Offsets
GRGR now offers carbon offset credits. Green Energy Resources offsets include reforestation, carbon and methane reduction from landfills. The sale of Offset credits represents a major financial opportunity for the company to capitalize on the rapidly growing international and expanding US market demands for emissions trading. The US market is already at $50 billion dollars and growing according to data reported in Environmental Finance Magazine in February. The carbon offset market is the fastest growing emerging market within all financial markets globally and has surpassed one trillion dollars according to the report. Offsets generated through UTCS meet Voluntary Carbon Standards (VCS).
CONTACT:
Green Energy Resources
Joseph Murray
631-375-7921
joe.murray@greenenergyresources.com
www.greenenergyresources.com
or
Worldwide Financial Marketing, Inc. USA
Investor Relations
Int'l: 1-954-360-9998
Nat'l: 1-866-360-9998
Info @ wwfinancial.com
www.wwfinancial.com
Source: Market Wire (April 2, 2007 - 6:31 AM EDT)
anyone watching ALTV..?
it's Seamus and Padraic's hidden company...
21 March 2007
TecEnergy, Pennsylvania, Inc. is pleased to announce that it has received positive results from initial tests using gasification technology to process waste coal slurry. The tests comprised mixing coal slurry with water and running the solution through a liquid gasification machine.
The process produced a clean burning gas, clean water and a small amount of carbon that can be reused to manufacture the electrodes that are used in the machine. The process produces no emissions or by-products that need further treatment.
This process offers an environmentally friendly solution for the recovery of energy from waste coal and is one of a number of solutions that the company is investigating and will implement subject to meeting regulatory requirements and permissions as required by the local authorities
I remember someone had told me the O/S is 99% held, by insiders....
so if that's true....
Almost the whole float?????
How can be....Was there a RS?
"Outstanding Shares: 28,424,915 as of 2004-11-04"
man this thing has started to trade......
35,000 shares crossed today....
considering... that is almost the whole float.....
I'd say something is about to ding!!!
or at the very least.... CHA-CHING!!! lol
Consolidated Energy Announces That Its Subsidiary TecEnergy Pennsylvania, Inc. Has Successfully Completed Initial Tests to Improve the Value of Waste Coal
Consolidated Energy & Technology Group, Inc. (PINKSHEETS: CGGE) announced today that its subsidiary, TecEnergy Pennsylvania, Inc. ("TecEnergy") has successfully completed initial tests to enhance the value of waste coal that it owns in Pennsylvania.
TecEnergy has recently completed the construction of a proto-type machine to process waste coal using an economically viable enzyme technology. Expertise and assistance to build the equipment and the enzyme used in the equipment were supplied to TecEnergy by Geotec Thermal Generators, Inc. (PINKSHEETS: GETC). Initial tests completed by an independent laboratory indicate that this enzyme technology and equipment successfully reduced substantially, the level of contaminants in the waste coal thereby increasing the BTU and therefore the saleable value of the material.
Subject to receiving the relevant regulatory approvals and permits TecEnergy is planning to build a commercial installation to recover energy from waste coal that it owns in Pennsylvania. The remediation of waste coal piles in Pennsylvania will also provide a much needed environmental solution.
Further information on TecEnergy Pennsylvania, Inc. can be found at www.tecenergypa.com
anyone here anything from this company?
tec-OK site now has updates...
http://www.tecenergyok.com/green.php
TecEnergy PA Mine Operator's License #18232 issued 07/24/06
http://www.tecenergypa.com/license.php
http://www.tecenergypa.com/green.php
What we do
TecEnergy Pennsylvania, Inc. will approach the remediation and recovery of energy from waste coal piles in three different stages.
1. We will recover the lower BTU value material from the waste piles for provision to local power generating stations that can use and mix the material to create a satisfactory fuel.
2. We will recover the more valuable material from the piles using screening systems that allow us to select particular sizes of higher BTU material that can be used as fuel.
3. Subject to appropriate permits and regulatory approvals we will use technology to maximise the value that can be generated from waste coal. Technology will be used to create a valuable fuel or to generate “green” electricity in an environmentally friendly and acceptable manner. It is envisaged that the provision and implementation of such solutions will allow the Company to generate valuable tax credits that have been created by Government.
Consolidated Energy Announces That Its Subsidiary TecEnergy Pennsylvania, Inc. Has Been Granted a "Mine Operator's License" by the Commonwealth of Pennsylvania
Tuesday July 25, 11:16 am ET
MIAMI, FL--(MARKET WIRE)--Jul 25, 2006 -- Consolidated Energy & Technology Group, Inc. (Other OTC:CGGE.PK - News) announced today that its subsidiary, TecEnergy Pennsylvania, Inc., has been granted a "Mine Operator's License" by the Commonwealth of Pennsylvania. This allows TecEnergy Pennsylvania, Inc. to apply for specific mining permits that will allow the Company to conduct mining activities in Pennsylvania.
"The receipt of this License enables TecEnergy to move to the next stage of its project in Pennsylvania. We can now apply for and are confident that we will receive specific permits that enable us to recover energy from waste coal piles and provide an environmental solution by remediation of these waste coal piles in the state of Pennsylvania," stated the CEO.
Further information on TecEnergy Pennsylvania, Inc. can be found at www.tecenergypa.com
Consolidated Energy is a holding company in the business of acquiring and developing proven technologies which seek to provide sought-after solutions to current environmental problems in our modern world, with special emphasis on alternative energy, waste management and land remediation.
Consolidated Energy offers turnkey solutions in the waste sector and at the same time uses these resources to provide alternative energy and other products.
Further information about Consolidated Energy can be found at www.cetg-inc.com
NOTE: Statements made by Consolidated Energy & Technology Group, Inc. that are not purely historical are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve a variety of risks and uncertainties, including, without limitation, statements with respect to the Company's strategy and prospects. These statements are made based upon information available to the Company at the time, and the Company assumes no obligation to update forward-looking statements. Readers and investors are cautioned that the Company's actual results may differ materially from those described in the forward-looking statements due to a number of factors including, but not limited to: (1) demand for the Company's products and services; (2) the Company's ability to develop and launch its markets; (3) changes in the current and future business environment, including interest rates and capital and consumer spending; (4) the impact of competitive products and pricing; (5) reliance on key strategic alliances; (6) the availability of funding and skilled personnel; (7) the regulatory environment; (8) risks associated with start-up businesses; and (9) the impact of yet unknown competitors, technological obsolescence, problems with technology, problems with shipment, inadequate supplies and business opportunities.
Contact:
Contact:
Seamus Lagan
CEO
Consolidated Energy & Technology Group, Inc.
+305 735 8042
--------------------------------------------------------------------------------
Source: Consolidated Energy & Technology Group, Inc.
http://biz.yahoo.com/iw/060725/0147311.html
Consolidated Energy Announces that it Has Completed the Acquisition of a Building for Offices in Northern Ireland
MIAMI, July 13, 2005 (PRIMEZONE) -- Consolidated Energy & Technology Group, Inc. (Pink Sheets:CGGE) is pleased to announce that its Northern Ireland based subsidiary, TecEnergy Solutions Limited, has completed the purchase of a building in Northern Ireland. TecEnergy Solutions Limited has rented office space in Belfast, Northern Ireland for the past 18 months and the purchase of this building in Castledawson, Northern Ireland will meet the current and future office needs of the Company. The building is situated on a site which offers the opportunity of substantial development in the future if required.
TecEnergy Solutions Limited received financial assistance from HSBC Bank to purchase the building of approximately 110m (squared) which costs ninety three-thousand pounds sterling (approximately $165,000). The mortgage payments to HSBC represent a substantial monthly saving from the rent payments that were being incurred and the Company now has the advantage of owning a property and benefiting from any potential capital gain in the future.
Consolidated Energy is a holding company in the business of acquiring and developing proven technologies which seek to provide sought-after solutions to current environmental problems in our modern world, with special emphasis on alternative energy, waste management and land remediation.
Consolidated Energy will provide turnkey solutions in the waste sector and at the same time use these resources to provide alternative energy and other products.
fund ownership...
http://sharedata.lloydstsbshareviewdealing.com/en/news/article.html?server=rns&id=1143637205
A review of the 10 largest investments held by the Company as at 31 December
2005 is set out below. The summary provides background to each business,
together with an update on trading activity.
Consolidated Energy and Technology Group, Inc.
Market: US, OTC Bulletin Board
Percentage of fund: 21.3%
Date of acquisition: 30 July 2004
Business background
Consolidated Energy and Technology Group, Inc. acquires and develops proven
technologies which seek to provide solutions to environmental problems with
special emphasis on alternative energy, waste management and land remediation.
Business review
In May 2005 the Company announced that it had entered into an agreement to
acquire a $2.5 million waste processing facility in England and that it had
delivered a recycling and gasification machine to Ireland, which has the
capacity to produce liquid fertilizer, clean water and can recycle the waste
materials into a clean burning combustible gas.
In June 2005 the Company agreed to acquire Plascarraig Teoranta, an Irish
company that manufactures roofing tiles from waste materials.
In December 2005 the Company announced that its subsidiary, TecEnergy
Enterprises Limited, had completed its plans to purchase a waste processing
facility in England for £2.5 million. TecEnergy anticipated spending
approximately £1.5 million in the near term on installation and utilisation of
the new waste processing technology to substantially increase profitable revenue
on the site and will build the site to offer a turnkey solution for waste
management.
Following the year end the company announced that it had completed the purchase
of a waste processing facility in England and the issue of $1 million of secured
convertible debentures.
16 March 2006
Investment Review
PORTFOLIO ACTIVITY
The portfolio consists principally of stocks in North American-based businesses.
The Company has 24 investments and made one disposal during the year (see
note 8). A review of the 10 largest holdings follows.
10 Largest Holdings
as at 31 December 2005
Type of Investment Market Value % of
£'000 Portfolio
1 Consolidated Energy and Technology
Group, Inc. Common Stock 5,108 21.3
2 Nutracea, Inc. Common Stock 3,047 12.7
3 Aberdene Mines Limited Convertible Securities 2,833 11.8
4 Newport International Group, Inc. Common Stock 2,356 9.8
5 Software International, Inc. Convertible Securities 1,451 6.0
6 Avenue Group, Inc. Common Stock 1,406 5.9
7 Human Biosystems, Inc. Common Stock 1,341 5.6
8 Seven Arts Pictures PLC Convertible Securities 1,320 5.5
9 Material Technologies, Inc. Common Stock 830 3.4
10 FEC Resources, Inc. Common Stock 815 3.4
Total 20,507 85.4
All of the above investments, except for Aberdene Mines Limited and Seven Arts
Pictures PLC, are restricted stock under Rule 144 of the US Securities Act 1933.
Restricted securities may be sold, pursuant to exemptions under Rule 144, by
non-affiliates if they have been fully paid for and held for more than two
years.
more stuff I found... a patent...
http://www.patent.gov.uk/patent/notices/journals/2006/6105.pdf
GB2420347 (GB0425425.6) 18 Nov 2004
TECENERGY ENTERPRISES
LIMITED (INCORPORATED IN
IRELAND)
Polymer and slate composite material and
method of making such
UKC Headings: C3N C3K C3V Int Cl
C08K 3/34(2006.01) C04B 26/
04(2006.01) C04B 14/14(2006.01) E1D
Lloyd, Micheal See TecEnergy
Enterprises Limited (Incorporated in
Ireland)
TecEnergy Enterprises Limited
(Incorporated in Ireland) (Lloyd,
Micheal)
C3N C3K C3V GB2420347 C6E GB2420349
NOTICE IS HEREBY GIVEN that an
Application was made to the Department of State
of the Commonwealth of Pennsylvania, at
Harrisburg, PA, on May 10, 2006, by
TECENERGYPENNSYLVANIA, INC., a for-
eign corporation formed under the laws of the
State of Florida, where its principal office is
located at One S.E. Third Avenue, 28th Floor,
Miami, FL33131, for a Certificate of Authority
to do business in Pennsylvania under the provi-
sions of the Pennsylvania Business Corporation
Law of 1988.
The registered office in Pennsylvania shall be
deemed for venue and official publication pur-
poses to be located c/o Corporation Service
Company, Dauphin County, Pennsylvania. m26
http://www.dcba-pa.org/pages/DCR/DCR05-26-06.pdf
background on the relationship with GETC.
DESCRIPTION OF BUSINESS
1. General
The Company was incorporated in the State of Florida in February 1998 to provide services in the energy industry. The Company's offices are located at. 110 East Atlantic Avenue, Suite 200, Delray Beach, FL 33444, and the telephone number is
(561) 276-9960, the fax number (561) 276-9964 and the e-mail address is info@geotecinc.com.
The Company has obtained a ten-year exclusive license to market and sell a unique oil treatment service to customers in North, Central, and South America. This technology, Gas Generators(TM), is designed to produce a thermo-chemical treatment of oil and gas wells, thereby restoring and increasing output capacities, yielding increased production of oil. The proprietary technology was developed by the former Soviet Union Military Research and Production Facility, ("FR&PC ALTAI,") for the USSR Ministry of Geology. This increase in oil and gas production can be measured in barrels of oil and cubic feet of gas per year, with one barrel of oil valued at approximately US$ 45.00 as of December 2004 (Currently at $67, effective August 11, 2005). The Company was granted an exclusive license to import the Generators(TM) for use in the oil and gas exploration industry in August 1998. The Company also secured three subsequent contracts that include the patent-ability, long-term agreement and transfer of technology. The export license from the Russian Federation was granted in November 2001. The Company was granted continual exclusivity in North, South and Central America in April 2004, subject to the purchase of a minimum of 500 gas generators, over the next two years, to retain its exclusivity. Further, the Company also was granted the right to utilize the technology worldwide. FR&PC Altai has not granted any licenses to other commercial suppliers. Thirteen sovereign nations were granted the rights to the technology within their own borders.
The Company was granted U.S. Patent No. 6,817,298 on November 16, 2004, described as "Solid Propellant Gas Generator with Adjustable Pressure Pulse for Well Optimization."
The Company has purchased 5 million tons of coal and will receive 17 million tons of coal from Consolidated Resources Group "CSRG" (subject to a royalty agreement described herein), upon the sale of the initial 5 million tons. The Company's coal does not have to be mined, as it is "laid up" coal, at a site in Illinois. The Company will have to provide a completed and updated engineering report and apply for a reclamation permit to move the coal to power plants for sale, the cost of this process is approximately $15-18 per ton.
Coal, until the 1960's was the single most important source of the world's primary energy. In the late 1960's it was overtaken by oil; but it is forecast that coal, could again become the major primary energy source at some stage during the first half of this century. (World Coal Institute, 1999)
Today, coal is used to produce over 50% of the electricity in the United States. The United States is the second largest producer of coal at about 1 billion tons per year. China produces about 1 billion tons more than the United States and India is the next largest producer with about 1/3 of the United States production. Coal usage has increased about 7% per annum, and it is expected to continue at this rate.
Coal is a commodity with spot prices based upon location, and availability. Illinois basin coal spot prices are currently $35.00 per short ton, while eastern coal and Powder River Coal are currently $52.50 and $9 per short ton. Canadian coal sold overseas for steel mills has recently been selling for $200 per short ton, as is coal imported to the Far East, at even higher prices.
The Company is focusing and investigating the efficient production and use of BTU output or conversion of the caloric content of hydrocarbons, though several technologies, which would include the use of the coal owned by the company.
The Company is focusing and investigating the efficient production and use of BTU output or conversion of the caloric content of hydrocarbons, though several technologies, which would include the use of the coal owned by the company. Mr. Ray, our interim President and CEO was one of the founders of TecEnergy, Ltd, which is a producer of gasification equipment that, as of the publication of this report, is just now producing commercial units for sale in Europe, with one unit also in the oil/gas fields of Oklahoma. It is anticipated by Management that these gasification units, which are also micro-power generators, will be able to utilize the Company's coal to produce a high output form of methane gas. This gas, when sold could produce a higher profit stream for the Company than just the sale of coal. Results from this gasification method indicate a production of hydrocarbons and power equivalent to over $80 per ton of coal. In addition, the Company is reviewing several other technologies that will maximize the BTU/caloric output of the coal, or other uses, such as fertilizer produced from coal. The Company is reviewing a technology that has been favorably tested at two major United States Agricultural Universities. Fertilizer is currently being sold for $250-450 per ton.
The Company also owns Kodiak Production, LLC, which is a drilling and services company, in Wyoming. The Company intends to provide drilling and oil field services, and develop the hydrocarbons on its own properties in Wyoming.
In December 2004, the company acquired a 25% membership interest in Kodiak Productions LLC, a newly formed entity, under an oral agreement in exchange for our agreement to utilize our technology for oil and gas wells, as well as coal bed methane wells, in Wyoming. In January 2005, Geotec entered into an agreement in principle acquiring the remaining 75% of Kodiak not already owned by us from its members. As consideration for this membership interest, each exchanging member will be entitled to receive a percentage of Kodiak's profits based upon his membership interests at the time of the exchange. Mr. Rick Lueck, the prior CEO, owned 7.5% of Kodiak's membership interests prior to the transaction. Mr. Justin W. Herman, who will become a principal shareholder of the company after this transaction is completed, also owned 7.5% of Kodiak.
In January 2005, Kodiak completed the acquisition of certain federal and fee oil and gas leases in Wyoming covering approximately 3,520 acres from an unaffiliated third party. Under the terms of the agreement, Kodiak paid the seller $425,000. Geotec provided the $425,000 to Kodiak. The seller reserved an overriding royalty in and to each of the federal oil and gas leases of the difference between the existing royalty and overriding royalty burden and 20% and an overriding royalty in and to the fee oil and gas leases of the difference between the existing royalty and overriding royalty burden and 25%. Kodiak agreed to drill at least 20 wells on the acquired leases during calendar 2005 utilizing our technology. If Kodiak would have failed to meet these minimum requirements, upon the request of the seller Kodiak would have had to convey the ownership of the acquired leases back to the seller and the seller would retain the $425,000 purchase price. On February 1, 2005, this agreement was terminated, and the $425,000 was returned to Geotec.
In February 2005, the company announced that it had entered into a series of agreements, commitments and understandings pursuant to which we have acquired 700,000 tons of coal located on certain land described as 14221 East Arrow Road, Cuba, Illinois, ("Arrow Road Facility"), and as more fully described hereafter. The acquisition of the coal was completed through a series of transactions and investments as described below:
* We entered into an agreement with an existing shareholder, Dr. Art Gottmann, who has agreed to invest $2,200,000 in exchange for 16.5 million shares of our common stock which coupled with his existing ownership of 3.3 million shares of our common stock will result in his having 9% of the shares of our common stock to be outstanding following the consummation of the related transactions. Dr. Gottmann will receive a 7% net royalty interest in certain economic rights that our wholly-owned subsidiary, Kodiak Productions, LLC, receives from mineral properties in Wyoming and Montana. We received from Dr. Gottmann $1,000,000 and will receive the remaining $1,200,000, on a promissory basis.
* We loaned Deerfield Capital Consultants, Inc. $400,000 in exchange for which we acquired a working capital loan that Deerfield Capital had made to Consolidated Resources Group Inc., The working capital loan had enabled Consolidated Resources Group to secure a reclamation permit for the coal storage site located at the Arrow Road Facility. The working capital loan matures on February 10, 2006 with Consolidated Resources Group having the right to extend the maturity of the working capital loan for an additional 12 months. The working capital loan bears interest at 12% per annum payable monthly and is secured by 1,000,000 tons of coal located at the Arrow Road Facility, which is separate from the coal acquisition described below.
* Deerfield Enterprises, Inc., is primarily owned and controlled by Bradley T. Ray, our CEO and Chairman, acquired 1,000,000 tons of coal located at the Arrow Road Facility from Consolidated Resources Group in consideration for performance by Deerfield Capital under a Financial Services Consulting Agreement dated February 2, 2005 with Consolidated Resources Group pursuant to which Deerfield Capital was to obtain funding for Consolidated Resources Group.
* Deerfield Enterprises has sold and transferred to us 700,000 tons of such coal in exchange for 172 million shares of our common stock. This amount includes 90,000,000 shares of our common stock which has been issued as a direct issuance of common stock in lieu of the contractual right to receive the preferred stock which was convertible into common stock. As described elsewhere herein, an aggregate of 172,000,000 shares of our common stock have been issued to date. Of these shares, 132,700,000 shares have been issued, but not distributed to various principals of Deerfield Enterprises . In addition, Deerfield Enterprises acquired 2% of the 5% royalty interest received from Deerfield Capital for 21 million tons of coal located at the Cuba, Illinois property in exchange for 35 million shares of our common stock. Deerfield Enterprises retained the other 3% of 5% royalty.
* Deerfield Enterprises was organized by Mr. Bradley Ray on February 1, 2005 to engage in purchases of the coal property from Consolidated. W. Richard Lueck, our former President, Chief Executive Officer and a principal shareholder of Geotec, who will provide ongoing services in an executive capacity to Deerfield Enterprises, received 25% of the common stock of Deerfield Enterprises.
* Deerfield Enterprises thereafter issued all shares of common stock that it received in exchange for the coal transfer to us. On the distribution, 45 million shares of our common stock were issued, not distributed to Mr. Lueck; 21.7 million shares of our common stock were issued, not distributed, to Justin Herman; 33 million shares of our common stock were issued, not distributed, to Mr. Norris; and 33 million shares of our common stock were issued, not distributed to Mr. Ray. Deerfield Enterprises will also receive a 20% ownership in Kodiak, our wholly-owned subsidiary, which will engage in oil and gas exploration and acquisition of mineral property assets. Mr. Ray also controls approximately 107 million shares, inclusive of his aforementioned distribution, as a result of a 5 year lock up agreement and shares owed by Deerfield Enterprises, Inc.
* In connection with these transactions, Messrs. Lueck, Herman, Ray and Norris have entered into a Custodial and Shareholder's Agreement and have agreed to a lock up of their shares for a period of five years. Mr. Lueck has also agreed to lock up all of the shares he has previously owned, which is approximately 10 million shares of common stock.
The one million tons of coal is located on the land described as 14221 East Arrow Road, Cuba, Illinois 61427 (Arrow Road Facility). The coal property was previously appraised in December 2003 by Moss, Johnson & Associates, Ltd. for a predecessor in interest to Consolidated Resources Group.
On March 14, 2005, we executed a Stock/Commodity Exchange Agreement with Consolidated Resources Group, Inc. Pursuant to the agreement, we acquired 3,000,000 tons of laid up coal from Consolidated in exchange for 21,000,000 shares of our common stock. The coal is located on land described as 14221 East Arrow Road, Cuba, Illinois 61427. As of the date of this quarterly report these shares have not been issued, at the written request of Consolidated
On March 15, 2005, the Company executed a Share Exchange Agreement and an Addendum to Share Exchange Agreement with Consolidated Resources Group, Inc. ("CRG"), a Florida corporation that maintains its principal office at Company's office and Mr. Joseph Bergmann, President of CRG. Pursuant to the Agreement, Mr. Bergmann agreed, as owner and/or proxy holder for other CRG shareholders, to convey and transfer to Geotec, those shares of CRG common stock and CRG preferred stock representing the majority voting equity interest in CRG. Accordingly, Geotec has acquired equity ownership control over CRG. The Agreement contains further provisions for the acquisition of all issued and outstanding equity interests of CRG from remaining CRG shareholders. The Agreement has an effective date of April 1, 2005 and provides that the Purchased Shares shall be delivered to Geotec on June 15, 2005. As of this filing, Mr. Bergmann or any of the CRG shareholders have requested distribution of the Geotec shares, as required in the Agreement.
As consideration for the Purchased Shares, Geotec is tendering ten thousand (10,000) shares of its preferred stock to CRG shareholders. The Geotec Preferred Stock will be distributed on a pro rata basis to Mr. Bergmann, those shareholders for which Mr. Bergmann serves as a proxy, and all other shareholders of CRG that elect to exchange their equity interest in CRG for Geotec Preferred Stock. The Geotec Preferred Stock will be issued and held in escrow pending the share exchange scheduled for June 15, 2005. As of this filing, Mr. Bergmann or any of the CRG shareholders have requested distribution of the Geotec shares, as required in the Agreement.
The Geotec Preferred Stock will contain preferences that entitle the holders of the Geotec Preferred Stock to a pro rata interest in 70% of net profits from the Geotec's sale of CRG coal that has been and will be acquired from Lancaster International Corporation, Inc. ("Lancaster"). Remaining net profits (30%) from the sale of CRG coal will be allocated directly to Geotec. CRG presently owns one million (1,000,000) tons of coal located on property known as the Fiat Site at 14221 East Arrow Road, Cuba, Illinois (the "Fiat Site"). CRG has options to acquire an additional 15 million tons of coal from Lancaster.
The Agreement provides that Mr. Bergmann and CRG shall indemnify and hold harmless Geotec for various matters that may arise after execution of the Agreement and which relate to conduct occurring prior to execution of the Agreement. Notwithstanding the indemnity provision, which shall remain in full force and effect, the Addendum provides that Geotec will establish and accumulate a reserve fund in the amount of ten million dollars ($10,000,000) (the "Reserve Fund") for the purpose of paying and satisfying existing liabilities of CRG. The Reserve Fund will be comprised of funds derived from the sale of CRG coal as directed by Geotec. The Reserve Fund will be maintained for a period of two years. Any funds remaining in the Reserve Fund after two years will thereafter be distributed to former shareholders of CRG that hold Geotec Preferred Stock and to Geotec to the extent of its contribution to the Reserve Fund.
As the result of the execution of the Agreement by the parties, Geotec obtains majority voting control over CRG and its ownership rights to one million (1,000,000) tons of coal at the Fiat Site in addition to CRG's options to acquire an additional 15 million (15,000,000) tons of coal from Lancaster. It is anticipated that Geotec may exercise its voting rights to cause CRG to acquire the 15 million tons of coal from Lancaster pursuant to the aforementioned options. Accordingly, the effect of the Agreement and the Addendum is to provide Geotec with the ability to control an additional total of 16 million tons of coal and generate revenue to CRG/Geotec from the commercial exploitation of such commodity. The Company however has seen a change in the pricing of coal, particularly Illinois coal with a higher sulfur content than Eastern coal. The Company may choose to acquire Eastern coal if the profits can be increased. The Company has filed UCC-1s with the State of Illinois.
On June 10, 2005, the Company entered into a Commodity Purchase Agreement (the "Agreement") with F T Leasing & Financial, Inc. Pursuant to the Agreement, Geotec has agreed to sell F T Leasing up to six million (6,000,000) tons of mined coal (the "Coal") over the next three years. The Company has agreed to supply coal from Pennsylvania, Tennessee or Kentucky, in lieu of this order, at a higher spot price, at F T Leasing's option if the reclamation permit for the Illinois coal has not been obtained in a timely manner.
The total purchase price for the Coal in the first year of the Agreement is US$72,000,000.00. For the subsequent two option years of the Agreement, F T Leasing has agreed to pay the geographical market spot price at the time of the order, which was $36.00 per short ton minus two (2) dollars per ton for the Coal. The current geographical market spot price is $35.00 per ton for the Coal. In order to secure payment for the Coal, F T Leasing has agreed to procure an irrevocable revolving documentary letter of credit in favor of the Company for the sum of US$25,000,000.00.
On Tuesday, July 26, 2005, the Company executed a Share Exchange Agreement with Richcorp, Inc., a Florida corporation, and Mr. William Richardson, President of Richcorp. Pursuant to the Agreement, Mr. Richardson agreed, as owner and/or proxy holder for other Richcorp shareholders, to convey and transfer to Geotec, those shares of Richcorp common stock (referred to as the "Purchased Shares") representing the majority voting and all of the equity interest in Richcorp. Accordingly, Geotec is acquiring the equity ownership of Richcorp. The Agreement contains further provisions for the acquisition of all issued and outstanding equity interests of Richcorp from remaining Richcorp shareholders. The Agreement has an effective date of August 1, 2005 and provides that the Purchased Shares shall be delivered to Geotec on August 1, 2005.
As consideration for the Purchased Shares, Geotec is tendering ten thousand (10,000) shares of its preferred stock (the "Geotec Preferred Stock") to Richcorp shareholders. The Geotec Preferred Stock will be distributed on a pro rata basis to Mr. Richardson, those shareholders for which Mr. Richardson serves as a proxy, and all other shareholders of Richcorp that elect to exchange their equity interest in Richcorp for Geotec Preferred Stock. The Geotec Preferred Stock will be issued and held in escrow pending the share exchange scheduled for August 1, 2006, August 1, 2007 and August 1, 2008.
The Geotec Preferred Stock will contain preferences that entitle the holders of the Geotec Preferred Stock to a pro rata interest in a minimum of 2,100,000 shares of Geotec common stock, at a minimum, and up to 10,500,000 shares of Geotec common stock, based upon a formula for sales and resulting profits of the Richcorp Division of Geotec. This formula is scaled from $20,000,000 to $80,000,000 in annual profits for the maximum shares to be earned.
The Agreement provides that Richardson and Richcorp shall indemnify and hold harmless Geotec for various matters that may arise after execution of the Agreement and which relate to conduct occurring prior to execution of the Agreement.
As the result of the execution of the Agreement by the parties, Geotec obtains 100% voting control over Richcorp and its ownership rights to reserves of coking coal in Argentina exceeding 200,000,000 tons, as represented by Richcorp. Accordingly, the effect of the Agreement is to provide Geotec with the ability to control of over 200,000,000 tons of coke quality coal (asphaltite) and generate revenue to Richcorp/Geotec from the commercial exploitation of such commodity. The quality of the mined material is represented to be approximate 21-22,000 BTU per ton of asphaltite, with some deposits exceeding 31,000 BTU per ton.
In addition, Richcorp, Inc. has been pilot the capabilities of Dr. Richardson's other enzyme based processes for the washing and high grading of Asphaltite The material is a very rich source of hydrocarbons and has provided excellent results in the laboratory with regard to the types of hydrocarbons and the range of products that can be derived from these hydrocarbons. Testing using formula RLP-22, an enzyme formulation has proven that the hydrocarbons can not only be extracted, but the resulting products can be virtually metal free, due to RLP-22's ability to extract the metals and minerals from the diesel fuel produced and the fixed carbons that result from the process.
Richcorp, Inc. holds the rights to the enzyme formulations. These formulations are produced from industrial fermentations specifically designed to induce or inhibit the release of specific types of enzymes into an aqueous solution. These processes are an Intellectual Property and are protected as a Trade Secret. The enzyme processes and the supporting mechanical designs work in tandem to produce a desired result. The desired result may be the accelerated germination and growth of plants, the degradation of clays to alter soil structure for a properly developed root mass by the subject vegetation, the removal of hydrocarbons from soil or the removal of organo-metallic compounds in a fuel targeted for the consumer market. Richcorp will provide its technology to the commercial market through licensing of the technology for a particular purpose and the development of processes for the treatment, remediation or other applications that these formulations can be used to correct or change for a particular purpose.
These enzyme formulations are designed to produce enzymes that specifically attack the desired molecular bonds to detach the target contaminate. This process is realized by the interaction of several enzyme groups known as decombinanase, transferase and recombinase.
Further, the Company has studied the gasification capability of the Asphaltite and has determined that up to 7.5 Barrels of Oil Equivalent, in gas, may be able to be produced per ton of Asphaltite. The Company believes that TecEnergy's gasification equipment and processes can process about 10 tons per hour of Asphaltite, with a 20 hour a day operation. Richcorp's web site is www.richcorp.net.
ESDAY 31/01/2006 14:05:27
NI 'must point the way on renewable energy'
Northern Ireland must lead the way in developing an alternative energy strategy, Peter Hain insisted today.
By:Press Association
In a wide-ranging speech at Stormont on the challenges facing the province, the Northern Ireland Secretary confirmed the British government was planning a £59 million renewable energy plan for the region.
He told members of the Fabian Society that global environmental challenges meant the Government would have to enhance and accelerate its sustainable energy strategy.
"We are facing two potentially catastrophic scenarios: a threat to our security of energy supply, and, even more dangerous, global warming which has seen the 10 warmest years on record since 1990 and threatens the very future of our planet," the minister warned.
"Our failure to make the tough decisions at national levels on alternative sources of energy in the past has left us now facing what many see as the inevitability of an increase in nuclear capacity in Great Britain just to keep the lights on.
"In the future, faced with the vast liabilities and dangerous waste from nuclear, our children and grandchildren will ask how we ever got ourselves into that position.
"Today we have an opportunity not to compound our failings by again failing to take the difficult decisions to invest in renewable and clean sources of energy."
Mr Hain said he wanted Northern Ireland to point the way forward through the new £59 million Environment and Renewable Energy funding package.
The fund would generate around £300 million of additional private sector investment in renewables, accelerating the use of solar energy, photovoltaic panels, wave and tidal power, geothermal heat pumps, wind turbines and biomass.
The investment programme would also create jobs, particularly in rural communities, he said.
Mr Hain said he also wanted public sector buildings and social housing to lead the way.
"Significant support will be available to encourage energy from waste," he revealed.
"We will also see the world`s first development centre for marine current turbines at Strangford Lough (in Co Down) become operational.
"The package will encourage innovation, the development of new skills and create new job opportunities, particularly in rural communities, and build on our diversity of energy supply."
The British government was accused of paying lip service to environmentally-friendly fuels by Ulster Unionist MEP Jim Nicholson.
"While biofuels are not the only answer to our energy concerns, they should be an integral part of easing them," he said.
"Biofuels are good for our environment, good for our agriculture industry and would reduce our dependence on fossil fuels.
"The European Commission has set out its own action plan for increasing the use of biofuels but the British Government`s approach appears to be in disarray.
"The European Commission issued a warning to the United Kingdom last year because it was failing to reach its agreed biofuels targets. Only 0.3% of the UK petrol and diesel market was taken by biofuels in 2005 when the EU`s target was 2%."
Mr Nicholson said the Government had to stop the rhetoric and actually meet the target set of replacing five per cent of forecourt fuels with biofuels by 2010.
"Northern Ireland`s farmers are looking for innovative markets in which they can expand and biofuels could provide new business opportunities," he said.
"However, farmers will not want to move into producing crops for fuel unless the Government starts to take this important sector seriously."
The cross community Alliance Party said any Government money put aside to support development of renewable energy would need the full backing of councils to be fully effective.
"Provided this money is used wisely and is not merely a continuation of the old grant system, this news has the potential to make Northern Ireland a lead player in the development of responsible energy policies," Antrim councillor Alan Lawther said.
"To achieve this, the backing of all councils is needed. Public representatives cannot afford to send out mixed messages about renewable energy sources and general improvements to the environment around us."
DUP Assembly member George Dawson said while renewable energy had a role to play in Northern Ireland, the Government must produce more than rhetoric.
"What target of supply by renewable energy will be achieved by the funding announced and what timescale has he set on the delivery of a waste energy facility in NI?" the East Antrim MLA asked.
"My fear is that this is simply yet another example of rhetoric which he and his Government cannot deliver."
Breen Energy Solutions - $299,400 to install a slurry gasification and re-burn system at Del Monte Foods’ coal-fired industrial boiler in Pittsburgh. The system will use waste coal fines from CONSOL Energy and reduce nitrogen oxide and mercury emissions from the facility.
http://www.ahs.dep.state.pa.us/newsreleases/default.asp?ID=3776
looks like we got some new info at the global websites...
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