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212,000 for sale .16 600,000 for sale till .18 cents paper paper
Depth by Price for V : EUO at 2016-02-12 07:40:37
Bid
Ask
Price
Volume
Orders 0.13
5,000
1 0.135
41,000
3 0.14
106,390
10 0.145
33,500
5 0.15
7,000
1 0.16
212,000
6 0.165
107,000
5 0.17
44,000
3 0.175
65,000
2 0.18
201,500
5
Bid
Orders
Volume
Price
1 7,000 0.15
5 33,500 0.145
10 106,390 0.14
3 41,000 0.135
1 5,000 0.13
Ask
Price
Volume
Orders
0.16 212,000 6
0.165 107,000 5
0.17 44,000 3
0.175 65,000 2
0.18 201,500 5
Depth by Order for V : EUO at 2016-02-12 07:40:37
Depth by Order
Bid
Broker
Volume
Price
7 TD Sec 7,000 0.15
7 TD Sec 3,500 0.145
7 TD Sec 7,000 0.145
1 Anonymous 3,000 0.145
2 RBC 10,000 0.145
1 Anonymous 10,000 0.145
7 TD Sec 3,500 0.14
85 Scotia 6,000 0.14
7 TD Sec 1,500 0.14
7 TD Sec 7,000 0.14
Ask
Price
Volume
Broker
0.16 45,000 9 BMO Nesbitt
0.16 7,000 7 TD Sec
0.16 5,000 7 TD Sec
0.16 5,000 7 TD Sec
0.16 60,000 76 Industrial Alliance
0.16 90,000 1 Anonymous
0.165 8,000 7 TD Sec
0.165 8,000 7 TD Sec
0.165 16,000 7 TD Sec
0.165 50,000 85 Scotia
Credit Suisse you were pumping they were coming to buy today =BS
TD retail traders
TD bought 3 times that many , whats your point???
House Positions for C:EUO from 20160211 to 20160211
House Bought $Val Ave Sold $Val Ave Net $Net
7 TD Sec 225,700 34,733 0.154 10,000 1,550 0.155 215,700 -33,183
74 GMP 36,000 5,400 0.15 0 36,000 -5,400
143 Pershing 9,575 1,483 0.155 0 9,575 -1,483
68 Leede 5,000 750 0.15 0 5,000 -750
33 Canaccord 5,000 775 0.155 0 5,000 -775
95 Wolverton 200 30 0.15 775 116 0.15 -575 86
99 Jitney 0 8,000 1,240 0.155 -8,000 1,240
2 RBC 27,000 4,075 0.151 40,000 6,125 0.153 -13,000 2,050
88 Credential 0 20,000 3,000 0.15 -20,000 3,000
85 Scotia 35,000 5,275 0.151 75,000 11,222 0.15 -40,000 5,947
39 Merrill Lynch 1,000 150 0.15 52,500 8,130 0.155 -51,500 7,980
1 Anonymous 4,000 590 0.148 65,500 9,992 0.153 -61,500 9,402
9 BMO Nesbitt 1,000 155 0.155 77,700 12,041 0.155 -76,700 11,886
TOTAL 349,475 53,416 0.153 349,475 53,416 0.153 0 0
BMO Nesbitt selling lots of shares
ya right buying 100000 shares blocks at .15 honest ayeyou rotflmao
I am up 55% on EUO . How you doing with GLH ??
That is another false statement and you know it. Credit Suisse has nothing to do as transfer agent for EUO neither does EUO issue shres on tsx-v out of the US. Dont want to be wasting my time with you all day I am recalculating the value of my hoard of gold. Lots of weighing and reckoning to do. Later.
500,000 shares for sale till .175
Credit Suisse hump was for option exercise better get your money back before it goes lower
Credit suisse buy them all in an hour. I would worry about my own stinky dog if I were you...50K bid above .50 cents and then you be in 40s.
Depth Display By Price
GLH | Last Update: 09:18:24 | All data delayed 15 minutes
Bid Count Bid Size Bid Price Ask Price Ask Size Ask Count
1 500 0.580 0.600 11,000 3
1 2,000 0.570 0.610 11,000 2
3 7,000 0.560 0.620 14,000 3
4 13,500 0.550 0.630 4,500 1
2 10,500 0.540 0.640 1,500 1
lots of sellers why
Depth by Price for V : EUO at 2016-02-11 09:25:29
Bid
Ask
Price
Volume
Orders 0.135
63,000
5 0.14
97,390
9 0.145
67,000
7 0.15
57,000
5 0.155
99,500
4 0.155
62,100
4 0.16
165,500
4 0.165
172,000
5 0.17
164,000
5 0.175
65,000
2
Bid
Orders
Volume
Price
4 99,500 0.155
5 57,000 0.15
7 67,000 0.145
9 97,390 0.14
5 63,000 0.135
Ask
Price
Volume
Orders
0.155 62,100 4
0.16 165,500 4
0.165 172,000 5
0.17 164,000 5
0.175 65,000 2
Depth by Order for V : EUO at 2016-02-11 09:25:29
Depth by Order
Bid
Broker
Volume
Price
143 Pershing 9,500 0.155
33 Canaccord 5,000 0.155
7 TD Sec 80,000 0.155
33 Canaccord 5,000 0.155
7 TD Sec 5,000 0.15
7 TD Sec 7,000 0.15
2 RBC 10,000 0.15
7 TD Sec 1,500 0.15
7 TD Sec 33,500 0.15
74 GMP 25,000 0.145
Ask
Price
Volume
Broker
0.155 17,600 9 BMO Nesbitt
0.155 26,500 1 Anonymous
0.155 8,000 99 Jitney
0.155 10,000 7 TD Sec
0.16 500 95 Wolverton
0.16 45,000 9 BMO Nesbitt
0.16 30,000 1 Anonymous
0.16 90,000 1 Anonymous
0.165 8,000 7 TD Sec
0.165 8,000 7 TD Sec
Rowlands buying again and not $6000 bucks worth you scoffed at either Red. How about $80,000 bucks worth. Rowlands has been the biggest insider support of any company I have come across. He is not putting all this money into EUO for no reason. He knows whats cooking...
As of 11:59pm ET February 10th, 2016 Filing
Date Transaction
Date Insider Name Ownership
Type Securities Nature of transaction Volume or Value Price Feb 10/16 Feb 9/16 Rowlands, William Bruce Indirect Ownership Common Shares 51 - Exercise of options 500,000 $0.160
Feb 10/16 Feb 9/16 Rowlands, William Bruce Direct Ownership Options Stock 51 - Exercise of options -500,000 Feb 5/16 Feb 4/16 Rowlands,
William Bruce Indirect Ownership Common Shares 10 - Acquisition in the public market 11,000 $0.140
Feb 5/16 Feb 4/16 Rowlands, William Bruce Indirect Ownership Common Shares 10 - Acquisition in the public market 32,000 $0.140
Jan 25/16 Jan 22/16 Rowlands, William Bruce Indirect Ownership Common Shares 10 - Acquisition in the public market 30,000 $0.140
Sep 11/15 Sep 8/15 Rowlands, William Bruce Indirect Ownership Common Shares 10 - Acquisition in the public market 30,000 $0.190
Sep 14/15 Sep 3/15 Rowlands, William Bruce Indirect Ownership Common Shares 10 - Acquisition in the public market 25,000 $0.150
Sep 14/15 Sep 3/15 Rowlands, William Bruce Indirect Ownership Common Shares [Amended Filing] 10 - Acquisition in the public market 10,000 $0.150
Sep 6/15 Sep 1/15 Rowlands, William Bruce Indirect Ownership Common Shares 10 - Acquisition in the public market 25,000 $0.150 - See more at: https://www.canadianinsider.com/company?ticker=EUO#sthash.Hkp0slzG.dpuf
Sure would be nice to see an honest post from you once in awhile. You had no problem pushing BNN pumps when they involve plays that you were in though right ? NHL , GLH BNN mentions brought several posts from you on your one sided useless Beat the Street thread on SI about how right they are on BNN. Your one sided basher viewpoint on EUO is clear to everyone so I will let your posts stand for all to see how you run your affairs.
Beat The Street With SI Trader NHL BNN must be working :))) Rocket Red
3/25/2015
Beat The Street With SI Trader David Posner, President & CEO, Nutritional High @ 1150ET on BNN.ca Goose94
3/25/2015
Beat The Street With SI Trader NHL- BNN @ 11:45am Rocket Red
3/25/2015
Beat The Street With SI Trader BNN show let er rip Rocket Red
3/24/2015
Beat The Street With SI Trader NHL BNN on Wed 40 mil shares escrowed ,30 mil was the IPO Big plans going forward in USA Rocket Red
3/23/2015
Beat The Street With SI Trader Fabrice on GLH http://www.bnn.ca/Video/player.aspx?vid=751157 Rocket Red
11/16/2015
By the way NHL 15 cents to 3 cents NICE PICK !!!!
C:NHL - Nutritional High International Inc. - http://www.nutritionalhigh.com 20:11:55 MST
Sym-X Bid - Ask Last Chg %Ch Vol $Vol #Tr Open-Hi-Lo Year Hi-Lo Last Tr News Delay
NHL - C
ATS
DEFUNCT 0.04 0.155 0.035 Aug 21 15:41:53 Aug 20 15 min RT 2¢
CSE - C DEFUNCT 0.155 0.035 Aug 21 15:41:53 15 min
Dump. that is what is coming
I don't buy BNN pumps
So much for your tea leaves...explain to the Swiss its not a good buy here, LMAO
House Positions for C:EUO from 20160210 to 20160210
House Bought $Val Ave Sold $Val Ave Net $Net
72 Credit Suisse 487,000 76,201 0.156 0 487,000 -76,201
2 RBC 111,000 17,000 0.153 70,000 10,575 0.151 41,000 -6,425
88 Credential 26,000 3,900 0.15 0 26,000 -3,900
99 Jitney 18,000 2,880 0.16 8,500 1,360 0.16 9,500 -1,520
95 Wolverton 1,133 175 0.154 500 77 0.154 633 -98
14 ITG 0 333 53 0.159 -333 53
39 Merrill Lynch 0 1,000 155 0.155 -1,000 155
13 Instinet 5,000 800 0.16 8,500 1,342 0.158 -3,500 542
80 National Bank 1,000 145 0.145 6,000 870 0.145 -5,000 725
79 CIBC 0 6,500 1,040 0.16 -6,500 1,040
7 TD Sec 27,500 4,200 0.153 35,000 5,425 0.155 -7,500 1,225
143 Pershing 0 20,000 3,200 0.16 -20,000 3,200
62 Haywood 0 30,000 4,350 0.145 -30,000 4,350
9 BMO Nesbitt 75,000 11,100 0.148 146,800 22,237 0.151 -71,800 11,137
85 Scotia 4,000 560 0.14 104,000 16,560 0.159 -100,000 16,000
1 Anonymous 41,500 6,315 0.152 360,000 56,032 0.156 -318,500 49,717
TOTAL 797,133 123,276 0.155 797,133 123,276 0.155 0 0
Analysis Chart Fibs Opinion News Fund.(y) Fund (cs) Analysts 5min Chart Quote Options Insiders
Symbol search
EUO.C Analysis
Markets Overview Market Momentum Market Indices Isdex Index Nasdaq 100 Dow 30 Commodities 52 Week Highs 52 Week Lows Volume Leaders Price Advances Price Declines Percent Advances Percent Declines
EUO.C Eurocontrol Technics Gro Intraday Analysis Add to Watch List FAQ
Symbol Last Trade Date Change Open High Low Volume
EUO.C 0.145 Feb-08-2016 0.01 0.135 0.16 0.13 999,151
Note: Canadian symbols now end in .c i.e SYMB.C
Analysis Overall Short Intermediate Long
Bearish (-0.26) Neutral (-0.19) Bearish (-0.33) Bearish (-0.25)
Read more at http://www.stockta.com/cgi-bin/analysis.pl?symb=EUO.C&cobrand=&mode=stock#PJvVCd6pJlZfDqTG.99
Yeah sometimes Mr Market makes nonsense as in no sense verses commonsense as in common sense but efficient market theory as taught in established business courses in Ivy League schools-dictates that over time market inefficiencies be they over valuation or under valuations will correct themselves to represent the underlying value eventually.
Sometimes its the buzz more than the quality of a story in story driven stocks like small cap growth plays-that draws money flows into a story-totally unpredictable.
I don't follow GLH so not familiar with the story to comment.
I personally think the US markets and world markets are in lockdown mode
till some type of direction is known who the Republican and Democratic Presidential nominees will be and there is a lot of uncertainty involved should that circus act called Trump actually find direction from the big tent to the podium and be their nominee.
I think for me anyways on EUO-money already removed from the story in June last year and a decent position for me anyways of exposure left behind free and clear and all profit and in the black...there is no risk to holding the fort to see what transpires going forward.
My speakers on my Dell system have not functioned since early January and I have yet to replace them and the PC itself as in the tower I can't get any sound on and this thing is like just 2.5yrs old...so I missed the live telecast on BNN TV and caught just some of it on the Mrs's Ipad-so when that thing gets back to the house again tonite (the Ipad not the spouse LOL) will listen to the McWhirter piece on BNN from yesterday again.
Vranic's pending piece/write up typically is like 3 pages or more in depth detail so will be interesting his content going beneath the hood on things-I am sure there will a fair bit of discussion he provides and talking points on Xwin Sys.
SS
I would prefer a sale / royalty type agreement to an outright purchase. After many years and many millions of dollars spent in R&D it would be nice to see EUO enjoy some benefit from that going forward. The flip side of course is that a much better total price could probably be achieved with a total sale no royalty deal but as we have witnessed a fat bank account and no debt is not what investors seem to be willing to pay for.
They all want the dream even if the dream is little more than a yarn being told as a "story" . You know like GLH losing 3.2 mil in a quarter and a total time in biz of 1 year selling for 60 plus cents with probably 160 mil shares O/S. WTF makes them worth that type of market cap when they have not even turned a profit yet and have nothing but a greenhouse full of weeds?
Market and majority of players in it are F^%&*(*&d.
Yeah AyeYou I prefer this type of go4wd strategy for XwinSys-makes a lot of sense-business/economic and common sense- and probably why there has not been the amount of visibility I expected cuz if your talking to players in the space? Your gonna want to keep that stuff close to the vest for obvious reasons.
Could be a big deal announced or an outright purchase of the technology...in any event me thinks everything is on the up and up
and definetely looking up if McWhirter on the visibility end of things
is communicating the company is actively looking for a strategic fit with a major player.
Gotta fly...I haven't even looked to see what the final volume and closing price was yet!
SS
McWhirter on BNN says he believes that EUO will seek out partner to advance Xwinsys to to the high cost of producing each unit. They run around $1 mil each to produce. McWhirter say he believes that EUO will look for royalty agreement with a multi national.
Stock jumps 15% on the news.
Rowlands, William Bruce
Relationship as filed with regulators: 4, 5
Latest filing date: February 5, 2016
Direct Ownership
Common Shares 945,166
Options Stock 2,600,000
insider reports
As of 11:59pm ET February 5th, 2016
Filing
Date Transaction
Date Insider Name Ownership
Type Securities Nature of transaction Volume or Value Price
Feb 5/16 Feb 4/16 Rowlands, William Bruce Indirect Ownership Common Shares 10 - Acquisition in the public market 11,000 $0.140
Feb 5/16 Feb 4/16 Rowlands, William Bruce Indirect Ownership Common Shares 10 - Acquisition in the public market 32,000 $0.140
Jan 25/16 Jan 22/16 Rowlands, William Bruce Indirect Ownership Common Shares 10 - Acquisition in the public market 30,000 $0.140
Sep 11/15 Sep 8/15 Rowlands, William Bruce Indirect Ownership Common Shares 10 - Acquisition in the public market 30,000 $0.190
Sep 14/15 Sep 3/15 Rowlands, William Bruce Indirect Ownership Common Shares 10 - Acquisition in the public market 25,000 $0.150
Sep 14/15 Sep 3/15 Rowlands, William Bruce Indirect Ownership Common Shares [Amended Filing] 10 - Acquisition in the public market 10,000 $0.150
Sep 6/15 Sep 1/15 Rowlands, William Bruce Indirect Ownership Common Shares 10 - Acquisition in the public market 25,000 $0.150
- See more at: https://www.canadianinsider.com/company?menu_tickersearch=EUO%20%7C%20Eurocontrol%20Tech%20Grp#sthash.uk12wjXQ.dpuf
6000 buks worth wow
FilingDate TransactionDate Insider Name OwnershipType Securities Nature of transaction Volume or Value Price
Feb 5/16 Feb 4/16 Rowlands, William Bruce Indirect Ownership Common Shares 10 - Acquisition in the public market 11,000 $0.140
Feb 5/16 Feb 4/16 Rowlands, William Bruce Indirect Ownership Common Shares 10 - Acquisition in the public market 32,000 $0.140 -
See more at: https://www.canadianinsider.com/company?menu_tickersearch=EUO%20%7C%20Eurocontrol%20Tech%20Grp#sthash.EEgVHJSn.dpuf
CEO Bruce Rowlands buys yet more stock at 14c
https://m.canadianinsider.com/company?menu_tickersearch=euo
Right from this news release
Eurocontrol closes sale of Global Fluids to SICPA
2016-01-05 12:24 ET - News Release
Mr. Bruce Rowlands reports
EUROCONTROL CLOSES SALE OF GLOBAL FLUIDS INTERNATIONAL (GFI) S.A. TO SICPA
Eurocontrol Technics Group Inc. has sold Global Fluids International (GFI) SA to SICPA Finance SA, a subsidiary of SICPA SA, each a privately owned company based in Switzerland, in exchange for cash and postclosing earn-out payments closed effective Jan. 4, 2016. At closing, the company received $16-million less the $250,000 deposit received by the company on signing of the letter of intent in August, 2015, less $395,595 in transaction payments, less $984,128 in settlement of loan amounts owing by Eurocontrol to certain former shareholders of GFI and a working capital adjustment of $47,489. Going forward, Eurocontrol will also receive 5-per-cent earn-out payments on all future GFI contracts, inclusive of both marker and logistics, for a period of six years with contracts signed during the fourth through sixth years being paid until the third anniversary of such contracts with a minimum guarantee of $1.5-million per year for six years, being $9-million in the aggregate. The company will receive the minimum earn-out payments of $1.5-million on a semi-annual basis and additional earn-out payments calculated on 5 per cent of the gross revenue of future GFI contracts, net of the minimum earn-out payments made annually.
Eli Zahavi, Gadi Gonen and Michael Rose have resigned as directors of the company. Doron Reinis, the current chief executive officer of Xenemetrix, has been appointed chief operating officer of Eurocontrol to replace Mr. Gonen who pursuant to the sale of GFI has resigned from all positions with the company.
Bruce Rowlands, chairman and chief executive officer of Eurocontrol, stated: "The closing of this sale transaction with SICPA is a very important milestone in Eurocontrol's evolution and I would personally like to thank Gadi Gonen, Michael Rose and Eli Zahavi for their commitment and important contributions to Eurocontrol over the past 10 years. We all look forward to supporting the new SICPA/GFI combination in the future as new fuel marking programs are rolled out around the world."
Gilles Leraille, executive vice-president, business development of SICPA, stated: "We are very pleased to have finalized the purchase of GFI. This acquisition extends the range of the SICPA Group's product marking and 'track and trace' portfolio. It complements and completes the scope of SICPA's unique offering to government clients worldwide: comprehensive solutions aimed at enhancing excise tax collection capability, tools to protect local economies, and support health and environmental control policies. GFI's cutting-edge capability to mark oil products at the molecular level effectively works as an in-product tax stamp that cannot be altered or copied providing governments with a sophisticated tool to tackle fraud in the oil sector. SICPA/GFI's oil marking activity will be managed from SICPA headquarters in Lausanne where GFI will benefit from the strong [research and development] and organizational support of the SICPA Group in Switzerland and globally -- something we view as essential to maintaining and further developing Petromark technological lead and international offering."
We seek Safe Harbor.
I stand to be corrected but it is my understanding that along with the sale of 100% of GFI would go its existing contracts for fuel marking. No where have I seen it mentioned that EUO would transfer those contracts to some other division and they listed the revenue from those contracts as income from DISCONTINUED operations so that kind of sums it up.
They discuss the terms of the contract in last MD&A but I have not seen the entire contract published anywhere so that is where the possibility of correction comes in. This is from that discussion...
SALE TRANSACTION
On November 6, 2015, the Company entered into the definitive agreement (the “Purchase Agreement”),
pursuant to which the Company has agreed to sell 100% of its wholly-owned subsidiary GFI to SICPA in
exchange for cash and post-closing earn-out and additional payments. As a key part of the Purchase
Agreement, the Company, through its wholly-owned subsidiary, Xenemetrix has agreed to enter into a
strategic exclusive long-term supply, maintenance and support agreement, pursuant to which Xenemetrix
would continue to supply to GFI, and GFI would continue to purchase, Xenemetrix’s products and
services currently used by GFI in its business, in each case, on an exclusive basis within the oil and gas
marking and monitoring field of GFI’s current operations.
EUO did pick up this little bonus in the deal which alone could make up for the three contracts they let go..
Historically, Eurocontrol has been limited to revenue from the sale of fuel markers and
analyzers/detectors. This agreement expands Eurocontrol’s exposure to the fuel marking market
significantly through the inclusion of operational logistics in the earn-out payment stream. Logistics
revenue as a component of the over-all revenue derived from a comprehensive fuel marking program are
generally a multiple of the revenue generated from sales of markers and detectors.
Question to anybody on this board.
The next reporting quarter given the revenues are largely recurring could add up to another big sequential gain. does anybody know if the existing revenues to Eurocontrol from their prior contracts dating back to 2013 I think they were announced-remain with EUO? as ongoing revenue? or does the future revenues deriving from those past contracts that EUO signed prior to the sale to SICPA see SICPA now collect the revenues from those past long term contracts Eurocontrol secured prior to the SICPA agreement for purchase of GFI being ratified?
This to my recollection was IMO never made clear-and if it was if someone could link to the material would be appreciated.
My way of thinking and experience is that the transfer of assets and contracts go with the sale of the subsiduary to the purchasor no?
It would be a real coup de tat-and admittedly a real win IF Eurcontrol retains the revenue from their prior contracts to the sale of GFI to SICPA.
The positive offset is I guess SICPA winning a $50-$100million fuel tracking deal in 2016 and the royalty kicking in replacing current level of revenue reported.
I voted for the SICPA deal cuz we haven't seen much in contract wins lately-not since 2013 I believe without checking- and SICPA has the world wide established network and government connections in the certification sector already and that footprint being so much larger by comparison one would think yields bigger fruit over the 6yr cycle of the royalty payment thru larger fuel tracking opportunities.
I'm hoping Aya that we see some greater visibility on XwinSys going forward soon- as it is the go4wd technology of Eurocontrol's que and many hope- including myself-it will start producing revenues in the semi C space quickly.
SS
okay thanks. honestly forgot about the BOD resignations and appointement as one as C.O. officer. SS
It is here in the last news release. Red wants it to sound like it was some kind of rift or bad thing but in actuality they resigned because they were not needed at EUO but at SICPA now that GFI is owned by SICPA. They left EUO to work with GFI - SICPA. Good to know Rowlands made sure his people were looked after. Kind of thought with all the DD you do that one snuck by you,,,,
Eurocontrol closes sale of Global Fluids to SICPA
2016-01-05 10:24 MT - News Release
Mr. Bruce Rowlands reports
EUROCONTROL CLOSES SALE OF GLOBAL FLUIDS INTERNATIONAL (GFI) S.A. TO SICPA
Eurocontrol Technics Group Inc. has sold Global Fluids International (GFI) SA to SICPA Finance SA, a subsidiary of SICPA SA, each a privately owned company based in Switzerland, in exchange for cash and postclosing earn-out payments closed effective Jan. 4, 2016. At closing, the company received $16-million less the $250,000 deposit received by the company on signing of the letter of intent in August, 2015, less $395,595 in transaction payments, less $984,128 in settlement of loan amounts owing by Eurocontrol to certain former shareholders of GFI and a working capital adjustment of $47,489. Going forward, Eurocontrol will also receive 5-per-cent earn-out payments on all future GFI contracts, inclusive of both marker and logistics, for a period of six years with contracts signed during the fourth through sixth years being paid until the third anniversary of such contracts with a minimum guarantee of $1.5-million per year for six years, being $9-million in the aggregate. The company will receive the minimum earn-out payments of $1.5-million on a semi-annual basis and additional earn-out payments calculated on 5 per cent of the gross revenue of future GFI contracts, net of the minimum earn-out payments made annually.
Eli Zahavi, Gadi Gonen and Michael Rose have resigned as directors of the company. Doron Reinis, the current chief executive officer of Xenemetrix, has been appointed chief operating officer of Eurocontrol to replace Mr. Gonen who pursuant to the sale of GFI has resigned from all positions with the company.
Bruce Rowlands, chairman and chief executive officer of Eurocontrol, stated: "The closing of this sale transaction with SICPA is a very important milestone in Eurocontrol's evolution and I would personally like to thank Gadi Gonen, Michael Rose and Eli Zahavi for their commitment and important contributions to Eurocontrol over the past 10 years. We all look forward to supporting the new SICPA/GFI combination in the future as new fuel marking programs are rolled out around the world."
Gilles Leraille, executive vice-president, business development of SICPA, stated: "We are very pleased to have finalized the purchase of GFI. This acquisition extends the range of the SICPA Group's product marking and 'track and trace' portfolio. It complements and completes the scope of SICPA's unique offering to government clients worldwide: comprehensive solutions aimed at enhancing excise tax collection capability, tools to protect local economies, and support health and environmental control policies. GFI's cutting-edge capability to mark oil products at the molecular level effectively works as an in-product tax stamp that cannot be altered or copied providing governments with a sophisticated tool to tackle fraud in the oil sector. SICPA/GFI's oil marking activity will be managed from SICPA headquarters in Lausanne where GFI will benefit from the strong [research and development] and organizational support of the SICPA Group in Switzerland and globally -- something we view as essential to maintaining and further developing Petromark technological lead and international offering."
We seek Safe Harbor.
RRed that is interesting but how do u know that 3 directors Zahavi, Gonen and Rose have resigned from EUO?
As I have not seen any public disclosure to that effect and if I missed it somewhere/somehow (which can happen) please provide.
McWhirter who is long on Eurocontrol and a large shareholder in his fund AND in has personal exposure to the stock-is on BNN coming up Monday the 8th of February I believe.
I have long wanted more visibility on XwinSys on a go4wd basis and more communication I would like as an investor since May 2015 as to when/what are the timelines for going live and are we still in the timelines for a early 2016 commercial release?-hopefully McWhirter can shed some light to that effect Monday nite or in the upcoming Vranic article from Seeking Alpha on EUO which I expect to see a February release to its paying users and it made available to non paying user sometime afterwards.
Vranic also disclosed in a short blurb that he had purchased shares.
I still believe holding EUO for a potential buyout in 2016-2017 on XwinSys alone has merit- as I believe if XwinSys can demonstrate traction OR be licensed outright by a major in the Semi Conductor sector-that the ROI could be substantial-however if I don't see the visibility being raised on XwinSys during the first calendar quarter of 2016 I will be
speculating that the commercial rollout timelines may be rolled back and have to re-evaluate my level of exposure remaining accordingly.
Right now I am content my own money was removed long ago in June 2015 when I sold some of the position on the double to leave behind a position free and clear with my own principal removed which is the only prudent way to invest in the small cap spec space.
EUO is trading below cash value and no value for the que being demonstrated at all-and the discount at .135 I think is to steep given the $16million cash from the GFI sale to SICPA...and that discount being as steep as it is could be related to many things but I believe can be also attributable to investor/company visibility-not just overall small cap negative market sentiment- but this thing has shown it can reverse a downward trend very quickly in the past and often moving very quickly to the upside without warning.
McWhirter should he talk about Eurocontrol on Monday nite as one of his past picks and favorite picks-as you never know what company's a talking head will elaborate on- and get into some detail about XwinSys and timelines involved thereof for commercially being available? will be some timely visibility IMO right now needed.
SS
SS
EUO "This is not my first post related to the "alleged' bribe of $32million and SICPA mentioned BY name-I posted it when I DD'd SICPA when the deal was announced and the sum of money involved is TWICE the cash involved for the sale of GFI..."
http://www.stockhouse.com/companies/bullboard/v.euo/eurocontrol-technics-group-inc?postid=24501389
Just more RR lies : http://www.stockhouse.com/companies/bullboard/v.euo/eurocontrol-technics-group-inc?postid=24499032
Market out to lunch on EUO
Eurocontrol Technics Group Inc V.EUO
Sector: Energy | Sub-Sector: Oil & Gas Equipment & Services
Alternate Symbol(s): EUCTF
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Let the record show some took a stand while others sat still
RomanQueen. When you say SICPA this is what I think of when SICPA is mentioned and why I want SICPA as yestrerdays news and why the SemiC XwinSys go4wd que has to be put front and center-sooner the better and ASAP ahead of a "suppossed" early 2016 product commercial release.
Case in point: SICPA paid Rowlands $16million upfront for GFI in an agreed upon in principle in Dec 2014 MOU. Yet they were willing to pay TWICE that amount for our main revenue driver-in a bribe?
BR had the deal with SICPA in his hip pocket all of 2015 yet guided $18-20million for YE-and did not deliver...not even close-one new contract announcement since spring 2015 for what was suppossed to be a "back loaded" year. He negotiated himself a personal services contract-that to this day I maintain IMO is a conflict of interest going forward.
If they (SICPA) were willing to pay that amount for a mere investigated bribe? what was in the personal services contract to BR to agree to a sale? its a legitimate question?
I want disclosure from the CEO of my investment if they are working for the company I just sold the one big revenue driver of the business model- thru a personal services contract to that some company that one of the subsiduaries I invested in whereby I was told as were all common shareholders we would expect $18-20million in top line and income inline with the then $6million top line figure Rowlands is also quoted in print format guiding one and all...that disclosure as to the terms and conditions of the personal services contract the CEO of my investment signed with the company who aquired our technology for a sum of money HALF of what they were willing"allegedly" to put out there in a bribe to the tune of $32million-IMO for issues of transparency-disclosure and my own concerns about conflict of interest- should be made public.
And why anybody should have ANY issue with ANY shareholder raising that question is beyond reason or rational to reconcile. SS
Read more at stockhouse.com
EUO 3 directors resigned
Eli Zahavi, Gadi Gonen and Michael Rose have resigned as directors of the company
They own 1.5 mil shares my guess they sell them PDQ
Petromarine is just going to come to market over the next year. Do you even know what a "pilot project" is??
http://www.ritratama.com/wp-content/uploads/2014/05/Pm.pdf
ED-XRF Spectrometers
EDXRF Analyzers' Applications
With variety of equipment and wide knowledge base we cover 1000’s of applications for elemental analysis
Home / Applications / Key Applications
Petrochemical
Marine emission control -
Marine Fuels & oils monitoring
Ultra Low Sulfur -
Compliance with the ASTM method at low concentrations sulfur
Petroleum & Petrochemical -
Compliance with ASTM standard methods and other regulations
Oil and fuel analysis
Geological
Metal & Ore -
Quality control of the various metal industry processes
Mining & Mineral -
Mining, minerals or other geological materials analysis
Quantitative analysis of mining products
Consumer
Cosmetics -
Cosmetic products chemical analyzing
Pharmaceutical -
Analytical tests within pharmaceutical product
Food & Beverage -
Optimization of food & beverage quality
Optimization of food & beverage quality
Industrial
Plastic, Polymers & Rubber -
Plastics, polymers, and rubber analysis
Wood Treatment -
Monitoring wood treating
Coating Thickness & Thin Films -
Quality control of coating and thin film analysis
Analysis solutions from research and development to production, process control and recycling.
Environmental
Environmental applications -
Air pollution, soils, grounds and wastewater
Marine emission control -
Marine Fuels & oils monitoring
Ultra Low Sulfur -
Compliance with the ASTM method at low concentrations sulfur
Electronics (RoHS / WEEE) -
Compliance with the RoHS and WEEE directives
Expanded capabilities to environmental monitoring
Others
Art & Antiques -
Museum curators, art historians, and archeologists analysis to alert
Forensics -
Fingerprinting all kinds of materials analyzed in forensic analysis
Educational -
Analytical Chemistry study with Xenemetrix ED-XRF
email from Euo this was petromarine
in later part of 2013 Eurocontrol Technics Group Inc. has commenced a pilot project through its wholly owned subsidiary Xenemetrix with one of the largest container shipping companies in the world with headquarters in Israel
Just wondering if this pilot project is still on going
The answer to your question is No. The pilot concluded
Thank you,
BR
W. Bruce Rowlands
Chairman & Chief Executive Officer
Eurocontrol Technics Group Inc.
401 Bay St., Suite 2828
Toronto, CANADA
M5H 2Y4
416-361-2808 Phone
416-860-9900 Fax
416-230-7260 Cell
Philippines next ?
Customs to reintroduce fuel-marking system
by Chino Leyco
July 26, 2015
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The government is planning to reintroduce the fuel-marking system in the country to curb oil smuggling, according to Bureau of Customs (BOC) Commissioner Alberto D. Lina.
Lina said that BOC is in the process of coming up with the terms of reference (TOR) for the planned fuel-marking system. The TOR is set for release next month.
“The intention is to have all our fuels whether locally refined or imported marked, there will be no distinctions this time,” Lina told reporters. “We want to implement this fuel-marking system as soon as possible.”
image: http://www.mb.com.ph/wp-content/uploads/2015/07/vxcb-267x300.jpg
image: http://www.mb.com.ph/wp-content/uploads/2015/07/vxcb-267x300.jpg
Alberto D. Lina
Alberto D. Lina
Lina said Customs will hold a bidding for all prospective suppliers of fuel-markings.
The Customs chief, however, said the cost of fuel markings should be shouldered by oil companies, adding the agency will have pilot testings in Visayas or Mindanao.
“For the entire country, the fuel-marking system is estimated to cost $25 million, but the potential tax revenues, once implemented, is estimated to reach $300 million,” Lina said.
Fuel-marking scheme was first introduced during the Arroyo administration but was discontinued in the middle of President Benigno S. Aquino III’s term.
“In the previous administration, fuel marking system only covered the duty-free fuels, which is a bit odd because unmarked fuel means taxes and duties were paid,” Lina said.
He also said Customs decided not to renew its contract with previous fuel-marks supplier, Swiss inspection services provider Societe Generale de Surveillance (SGS) when it expired years ago.
“SGS is still welcome to join this bidding for the fuel-marking system contract,” Lina said.
In a Department of Finance Order 23 issued in 2007, the Customs bureau was tasked to carry out mandatory marking of imported kerosene and fuel that enter tax-and duty-free to prevent diversion to the domestic market.
There were reports at that time that tax- and duty-free articles have been subsequently entered the domestic market illegally without payment of the proper duties and taxes that resulted in huge revenue losses to the government and legitimate oil companies.
The government’s main objectives of that initiative was to properly identify and track fuel oils that enter the Philippines without tax payments, plug the leakages of duties, and provide necessary tool and evidence for the prosecution of people involve in this kind of activity.
The mandatory marking was initially implemented in Subic Bay Freeport, Clark Special Economic Zone and the Port of Batangas, under the supervision of a program implementation office.
Read more at http://www.mb.com.ph/customs-to-reintroduce-fuel-marking-system/#ZiG1fU6bRQt1JhEH.99
Oil firms oppose fuel-marking scheme
By Danessa O. rivera (The Philippine Star) | Updated September 9, 2015 - 12:00am
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MANILA, Philippines - Oil companies are opposing the implementation of the fuel marking scheme on fuel imports on concerns this could result in additional costs to consumers.
Originally eyed last month, the Bureau of Customs (BOC) is delaying the implementation of the new scheme aimed to arrest revenue losses from oil smuggling before the year ends.
“We’re hoping it will be implemented by year-end,” BOC commissioner Alberto Lina said in an interview with The STAR.
Under the new system, imported kerosene and diesel products whose taxes have already been paid would carry the markings, making it easier for the bureau to identify smuggled oil products.
However, oil companies would shoulder the cost of the fuel marking technology estimated at $25 million, the subject of their opposition, the BOC chief said.
Oil firms cited the marking cost may be added on top of the fuel selling price as a reason, he noted.
“Oil companies are negotiating with us to lower the cost,“ Lina said. “If they pay the marking cost, prices of oil may increase. That’s what we’re weighing in our decision because it will affect consumers.“
Last July, the BOC started preparing the terms of reference for project in which a contractor would be hired to mark oil products entering the country.
The fuel marking scheme will be tested first in Visayas and Mindanao before requiring it nationwide.
The agency stands to generate $300 million in fresh revenues with this project as it is expected to reduce smuggling in the country, Lina had said earlier.
SICPA CEO mentioning The Philippines:
This is a list of countries by oil consumption based on the CIA World Factbook.[2]
25 M * 5 % = 1.25M in Royalties just from #41 country in the World:
Rank Country/Region Oil consumption
(bbl/day) Year
1
image: https://upload.wikimedia.org/wikipedia/en/thumb/a/a4/Flag_of_the_United_States.svg/23px-Flag_of_the_United_States.svg.png
United States 19,840,000 2011 est.
2
image: https://upload.wikimedia.org/wikipedia/commons/thumb/f/fa/Flag_of_the_People%27s_Republic_of_China.svg/23px-Flag_of_the_People%27s_Republic_of_China.svg.png
China 9,790,000 2011 est.
3
image: https://upload.wikimedia.org/wikipedia/en/thumb/9/9e/Flag_of_Japan.svg/23px-Flag_of_Japan.svg.png
Japan 4,464,000 2011 est.
4
image: https://upload.wikimedia.org/wikipedia/en/thumb/4/41/Flag_of_India.svg/23px-Flag_of_India.svg.png
India 3,509,000 2013 est.[3]
5
image: https://upload.wikimedia.org/wikipedia/en/thumb/f/f3/Flag_of_Russia.svg/23px-Flag_of_Russia.svg.png
Russia 3,196,000 2012 est.
6
image: https://upload.wikimedia.org/wikipedia/commons/thumb/0/0d/Flag_of_Saudi_Arabia.svg/23px-Flag_of_Saudi_Arabia.svg.png
Saudi Arabia 2,817,000 2011 est.
7
image: https://upload.wikimedia.org/wikipedia/en/thumb/0/05/Flag_of_Brazil.svg/22px-Flag_of_Brazil.svg.png
Brazil 2,594,000 2011 est.
8
image: https://upload.wikimedia.org/wikipedia/en/thumb/b/ba/Flag_of_Germany.svg/23px-Flag_of_Germany.svg.png
Germany 2,400,000 2011 est.
9
image: https://upload.wikimedia.org/wikipedia/commons/thumb/0/09/Flag_of_South_Korea.svg/23px-Flag_of_South_Korea.svg.png
South Korea 2,301,000 2012 est.
10
image: https://upload.wikimedia.org/wikipedia/en/thumb/c/cf/Flag_of_Canada.svg/23px-Flag_of_Canada.svg.png
Canada 2,259,000 NA
11
image: https://upload.wikimedia.org/wikipedia/commons/thumb/f/fc/Flag_of_Mexico.svg/23px-Flag_of_Mexico.svg.png
Mexico 2,133,000 2011 est.
12
image: https://upload.wikimedia.org/wikipedia/en/thumb/c/c3/Flag_of_France.svg/23px-Flag_of_France.svg.png
France 1,792,000 2011 est.
13
image: https://upload.wikimedia.org/wikipedia/commons/thumb/c/ca/Flag_of_Iran.svg/23px-Flag_of_Iran.svg.png
Iran 1,709,000 2012 est.
14
image: https://upload.wikimedia.org/wikipedia/en/thumb/0/03/Flag_of_Italy.svg/23px-Flag_of_Italy.svg.png
Italy 1,454,000 2011 est.
15
image: https://upload.wikimedia.org/wikipedia/en/thumb/9/9a/Flag_of_Spain.svg/23px-Flag_of_Spain.svg.png
Spain 1,384,000 2011 est.
16
image: https://upload.wikimedia.org/wikipedia/commons/thumb/4/48/Flag_of_Singapore.svg/23px-Flag_of_Singapore.svg.png
Singapore 1,380,000 2012 est.
17
image: https://upload.wikimedia.org/wikipedia/commons/thumb/9/9f/Flag_of_Indonesia.svg/23px-Flag_of_Indonesia.svg.png
Indonesia 1,322,000 2011 est.
18
image: https://upload.wikimedia.org/wikipedia/en/thumb/a/ae/Flag_of_the_United_Kingdom.svg/23px-Flag_of_the_United_Kingdom.svg.png
United Kingdom 1,217,000 2013 est.
19
image: https://upload.wikimedia.org/wikipedia/en/thumb/b/b9/Flag_of_Australia.svg/23px-Flag_of_Australia.svg.png
Australia 1,023,000 2011 est.
20
image: https://upload.wikimedia.org/wikipedia/commons/thumb/2/20/Flag_of_the_Netherlands.svg/23px-Flag_of_the_Netherlands.svg.png
Netherlands 1,010,000 2011 est.
21
image: https://upload.wikimedia.org/wikipedia/commons/thumb/f/f6/Flag_of_Iraq.svg/23px-Flag_of_Iraq.svg.png
Iraq 818,000 2011 est.
22
image: https://upload.wikimedia.org/wikipedia/commons/thumb/f/fe/Flag_of_Egypt.svg/23px-Flag_of_Egypt.svg.png
Egypt 816,300 2011 est.
23
image: https://upload.wikimedia.org/wikipedia/commons/thumb/7/72/Flag_of_the_Republic_of_China.svg/23px-Flag_of_the_Republic_of_China.svg.png
Taiwan 786,100 2011 est.
24
image: https://upload.wikimedia.org/wikipedia/commons/thumb/a/a9/Flag_of_Thailand.svg/23px-Flag_of_Thailand.svg.png
Thailand 721,100 2011 est.
25
image: https://upload.wikimedia.org/wikipedia/commons/thumb/b/b4/Flag_of_Turkey.svg/23px-Flag_of_Turkey.svg.png
Turkey 706,100 2011 est.
26
image: https://upload.wikimedia.org/wikipedia/commons/thumb/1/1a/Flag_of_Argentina.svg/23px-Flag_of_Argentina.svg.png
Argentina 678,100 2011 est.
27
image: https://upload.wikimedia.org/wikipedia/commons/thumb/9/92/Flag_of_Belgium_%28civil%29.svg/23px-Flag_of_Belgium_%28civil%29.svg.png
Belgium 644,400 2011 est.
28
image: https://upload.wikimedia.org/wikipedia/commons/thumb/a/af/Flag_of_South_Africa.svg/23px-Flag_of_South_Africa.svg.png
South Africa 590,900 2011 est.
29
image: https://upload.wikimedia.org/wikipedia/en/thumb/1/12/Flag_of_Poland.svg/23px-Flag_of_Poland.svg.png
Poland 576,600 2011 est.
30
image: https://upload.wikimedia.org/wikipedia/commons/thumb/c/cb/Flag_of_the_United_Arab_Emirates.svg/23px-Flag_of_the_United_Arab_Emirates.svg.png
United Arab Emirates 572,100 2011 est.
31
image: https://upload.wikimedia.org/wikipedia/commons/thumb/0/06/Flag_of_Venezuela.svg/23px-Flag_of_Venezuela.svg.png
Venezuela 571,000 2011 est.
32
image: https://upload.wikimedia.org/wikipedia/commons/thumb/6/66/Flag_of_Malaysia.svg/23px-Flag_of_Malaysia.svg.png
Malaysia 542,900 2011 est.
33
image: https://upload.wikimedia.org/wikipedia/commons/thumb/3/32/Flag_of_Pakistan.svg/23px-Flag_of_Pakistan.svg.png
Pakistan 426,700 2011 est.
34
image: https://upload.wikimedia.org/wikipedia/commons/thumb/5/5c/Flag_of_Greece.svg/23px-Flag_of_Greece.svg.png
Greece 343,400 2011 est.
35
image: https://upload.wikimedia.org/wikipedia/commons/thumb/a/aa/Flag_of_Kuwait.svg/23px-Flag_of_Kuwait.svg.png
Kuwait 339,000 2011 est.
36
image: https://upload.wikimedia.org/wikipedia/commons/thumb/5/5b/Flag_of_Hong_Kong.svg/23px-Flag_of_Hong_Kong.svg.png
Hong Kong 333,900 2013 est.
37
image: https://upload.wikimedia.org/wikipedia/commons/thumb/7/78/Flag_of_Chile.svg/23px-Flag_of_Chile.svg.png
Chile 321,700 2011 est.
38
image: https://upload.wikimedia.org/wikipedia/commons/thumb/4/49/Flag_of_Ukraine.svg/23px-Flag_of_Ukraine.svg.png
Ukraine 320,600 2011 est.
39
image: https://upload.wikimedia.org/wikipedia/commons/thumb/7/77/Flag_of_Algeria.svg/23px-Flag_of_Algeria.svg.png
Algeria 316,400 2011 est.
40
image: https://upload.wikimedia.org/wikipedia/en/thumb/4/4c/Flag_of_Sweden.svg/23px-Flag_of_Sweden.svg.png
Sweden 316,000 2011 est.
41
image: https://upload.wikimedia.org/wikipedia/commons/thumb/9/99/Flag_of_the_Philippines.svg/23px-Flag_of_the_Philippines.svg.png
Philippines 315,600 2011 est.
42
image: https://upload.wikimedia.org/wikipedia/commons/thumb/0/05/Flag_of_Libya.svg/23px-Flag_of_Libya.svg.png
Libya 314,000 2011 est.
43
image: https://upload.wikimedia.org/wikipedia/commons/thumb/2/21/Flag_of_Colombia.svg/23px-Flag_of_Colombia.svg.png
Colombia 287,000 2011 est.
44
image: https://upload.wikimedia.org/wikipedia/commons/thumb/e/e8/Flag_of_Ecuador.svg/23px-Flag_of_Ecuador.svg.png
Ecuador 280,000 2012 est.
45
image: https://upload.wikimedia.org/wikipedia/commons/thumb/7/79/Flag_of_Nigeria.svg/23px-Flag_of_Nigeria.svg.png
Nigeria 271,600 2011 est.
46
image: https://upload.wikimedia.org/wikipedia/commons/thumb/2/21/Flag_of_Vietnam.svg/23px-Flag_of_Vietnam.svg.png
Vietnam 259,900 2012 est.
47
image: https://upload.wikimedia.org/wikipedia/commons/thumb/5/5c/Flag_of_Portugal.svg/23px-Flag_of_Portugal.svg.png
Portugal 259,700 2011 est.
48
image: https://upload.wikimedia.org/wikipedia/commons/thumb/5/53/Flag_of_Syria.svg/23px-Flag_of_Syria.svg.png
Syria 258,800 2011 est.
49
image: https://upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Flag_of_Switzerland.svg/16px-Flag_of_Switzerland.svg.png
Switzerland 258,200 2011 est.
50
image: https://upload.wikimedia.org/wikipedia/commons/thumb/d/d9/Flag_of_Norway.svg/21px-Flag_of_Norway.svg.png
Norway 255,200 2011 est.
51
image: https://upload.wikimedia.org/wikipedia/commons/thumb/d/d3/Flag_of_Kazakhstan.svg/23px-Flag_of_Kazakhstan.svg.png
Kazakhstan 244,200 2011 est.
52
image: https://upload.wikimedia.org/wikipedia/commons/thumb/d/d4/Flag_of_Israel.svg/21px-Flag_of_Israel.svg.png
Israel 238,400 2011 est.
53
image: https://upload.wikimedia.org/wikipedia/commons/thumb/7/73/Flag_of_Romania.svg/23px-Flag_of_Romania.svg.png
Romania 218,200 2011 est.
54
image: https://upload.wikimedia.org/wikipedia/commons/thumb/4/41/Flag_of_Austria.svg/23px-Flag_of_Austria.svg.png
Austria 210,700 2011 est.
55
image: https://upload.wikimedia.org/wikipedia/commons/thumb/c/cf/Flag_of_Peru.svg/23px-Flag_of_Peru.svg.png
Peru 206,900 2012 est.
56
image: https://upload.wikimedia.org/wikipedia/commons/thumb/b/bc/Flag_of_Finland.svg/23px-Flag_of_Finland.svg.png
Finland 204,800 2011 est.
57
image: https://upload.wikimedia.org/wikipedia/commons/thumb/2/2c/Flag_of_Morocco.svg/23px-Flag_of_Morocco.svg.png
Morocco 203,600 2011 est.
58
image: https://upload.wikimedia.org/wikipedia/commons/thumb/c/cb/Flag_of_the_Czech_Republic.svg/23px-Flag_of_the_Czech_Republic.svg.png
Czech Republic 199,000 2011 est.
59
image: https://upload.wikimedia.org/wikipedia/commons/thumb/6/65/Flag_of_Qatar.svg/23px-Flag_of_Qatar.svg.png
Qatar 189,700 2012 est.
60
image: https://upload.wikimedia.org/wikipedia/commons/thumb/8/85/Flag_of_Belarus.svg/23px-Flag_of_Belarus.svg.png
Belarus 188,800 2011 est.
61
image: https://upload.wikimedia.org/wikipedia/commons/thumb/8/89/Flag_of_Yemen.svg/23px-Flag_of_Yemen.svg.png
Yemen 177,000 2011 est.
62
image: https://upload.wikimedia.org/wikipedia/commons/thumb/d/dd/Flag_of_Azerbaijan.svg/23px-Flag_of_Azerbaijan.svg.png
Azerbaijan 168,000 2011 est.
63
image: https://upload.wikimedia.org/wikipedia/commons/thumb/9/9c/Flag_of_Denmark.svg/20px-Flag_of_Denmark.svg.png
Denmark 160,200 2011 est.
64
image: https://upload.wikimedia.org/wikipedia/commons/thumb/2/28/Flag_of_Puerto_Rico.svg/23px-Flag_of_Puerto_Rico.svg.png
Puerto Rico 151,600 2011 est.
65
image: https://upload.wikimedia.org/wikipedia/commons/thumb/b/bd/Flag_of_Cuba.svg/23px-Flag_of_Cuba.svg.png
Cuba 150,200 2011 est.
66
image: https://upload.wikimedia.org/wikipedia/commons/thumb/3/3e/Flag_of_New_Zealand.svg/23px-Flag_of_New_Zealand.svg.png
New Zealand 148,900 2011 est.
67
image: https://upload.wikimedia.org/wikipedia/commons/thumb/1/1b/Flag_of_Turkmenistan.svg/23px-Flag_of_Turkmenistan.svg.png
Turkmenistan 145,000 2011 est.
68
image: https://upload.wikimedia.org/wikipedia/commons/thumb/4/45/Flag_of_Ireland.svg/23px-Flag_of_Ireland.svg.png
Ireland 144,000 2011 est.
69
image: https://upload.wikimedia.org/wikipedia/commons/thumb/c/c1/Flag_of_Hungary.svg/23px-Flag_of_Hungary.svg.png
Hungary 141,100 2011 est.
70
image: https://upload.wikimedia.org/wikipedia/commons/thumb/8/84/Flag_of_Uzbekistan.svg/23px-Flag_of_Uzbekistan.svg.png
Uzbekistan 137,100 2011 est.
71
image: https://upload.wikimedia.org/wikipedia/commons/thumb/9/9f/Flag_of_the_Dominican_Republic.svg/23px-Flag_of_the_Dominican_Republic.svg.png
Dominican Republic 122,300 2011 est.
72
image: https://upload.wikimedia.org/wikipedia/commons/thumb/9/9a/Flag_of_Bulgaria.svg/23px-Flag_of_Bulgaria.svg.png
Bulgaria 112,700 2011 est.
73
image: https://upload.wikimedia.org/wikipedia/commons/thumb/f/f9/Flag_of_Bangladesh.svg/23px-Flag_of_Bangladesh.svg.png
Bangladesh 108,900 2011 est.
74
image: https://upload.wikimedia.org/wikipedia/commons/thumb/c/c0/Flag_of_Jordan.svg/23px-Flag_of_Jordan.svg.png
Jordan 107,000 2011 est.
75
image: https://upload.wikimedia.org/wikipedia/commons/thumb/5/59/Flag_of_Lebanon.svg/23px-Flag_of_Lebanon.svg.png
Lebanon 106,700 2011 est.
76
image: https://upload.wikimedia.org/wikipedia/commons/thumb/f/f8/Flag_of_the_United_States_Virgin_Islands.svg/23px-Flag_of_the_United_States_Virgin_Islands.svg.png
U.S. Virgin Islands 106,100 2011 est.
77
image: https://upload.wikimedia.org/wikipedia/commons/thumb/a/ab/Flag_of_Panama.svg/23px-Flag_of_Panama.svg.png
Panama 98,890 2011 est.
78
image: https://upload.wikimedia.org/wikipedia/commons/thumb/d/dd/Flag_of_Oman.svg/23px-Flag_of_Oman.svg.png
Oman 98,000 2011 est.
79
image: https://upload.wikimedia.org/wikipedia/commons/thumb/0/01/Flag_of_Sudan.svg/23px-Flag_of_Sudan.svg.png
Sudan 95,450 2011 est.
80
image: https://upload.wikimedia.org/wikipedia/commons/thumb/1/11/Flag_of_Sri_Lanka.svg/23px-Flag_of_Sri_Lanka.svg.png
Sri Lanka 89,620 2011 est.
81
image: https://upload.wikimedia.org/wikipedia/commons/thumb/c/ce/Flag_of_Tunisia.svg/23px-Flag_of_Tunisia.svg.png
Tunisia 88,380 2011 est.
82
image: https://upload.wikimedia.org/wikipedia/commons/thumb/e/e6/Flag_of_Slovakia.svg/23px-Flag_of_Slovakia.svg.png
Slovakia 83,910 2011 est.
83
image: https://upload.wikimedia.org/wikipedia/commons/thumb/e/ec/Flag_of_Guatemala.svg/23px-Flag_of_Guatemala.svg.png
Guatemala 80,810 2011 est.
84
image: https://upload.wikimedia.org/wikipedia/commons/thumb/9/9d/Flag_of_Angola.svg/23px-Flag_of_Angola.svg.png
Angola 79,430 2011 est.
85
image: https://upload.wikimedia.org/wikipedia/commons/thumb/4/49/Flag_of_Kenya.svg/23px-Flag_of_Kenya.svg.png
Kenya 79,410 2011 est.
86
image: https://upload.wikimedia.org/wikipedia/commons/thumb/0/0a/Flag_of_Jamaica.svg/23px-Flag_of_Jamaica.svg.png
Jamaica 78,520 2011 est.
87
image: https://upload.wikimedia.org/wikipedia/commons/thumb/1/1b/Flag_of_Croatia.svg/23px-Flag_of_Croatia.svg.png
Croatia 74,410 2012 est.
88
image: https://upload.wikimedia.org/wikipedia/commons/thumb/f/ff/Flag_of_Serbia.svg/23px-Flag_of_Serbia.svg.png
Serbia 72,770 2013 est.
89
image: https://upload.wikimedia.org/wikipedia/commons/thumb/b/b1/Flag_of_Cura%C3%A7ao.svg/23px-Flag_of_Cura%C3%A7ao.svg.png
Curacao 72,000 2010 est.
90
image: https://upload.wikimedia.org/wikipedia/commons/thumb/1/11/Flag_of_Lithuania.svg/23px-Flag_of_Lithuania.svg.png
Lithuania 70,390 2011 est.
91
image: https://upload.wikimedia.org/wikipedia/commons/thumb/1/19/Flag_of_Ghana.svg/23px-Flag_of_Ghana.svg.png
Ghana 61,590 2011 est.
92
image: https://upload.wikimedia.org/wikipedia/commons/thumb/d/da/Flag_of_Luxembourg.svg/23px-Flag_of_Luxembourg.svg.png
Luxembourg 61,380 2011 est.
93
image: https://upload.wikimedia.org/wikipedia/commons/thumb/d/d4/Flag_of_Cyprus.svg/23px-Flag_of_Cyprus.svg.png
Cyprus 58,430 2011 est.
94
image: https://upload.wikimedia.org/wikipedia/commons/thumb/8/82/Flag_of_Honduras.svg/23px-Flag_of_Honduras.svg.png
Honduras 58,150 2011 est.
95
image: https://upload.wikimedia.org/wikipedia/commons/thumb/4/48/Flag_of_Bolivia.svg/22px-Flag_of_Bolivia.svg.png
Bolivia 55,560 2013 est.
96
image: https://upload.wikimedia.org/wikipedia/commons/thumb/f/f0/Flag_of_Slovenia.svg/23px-Flag_of_Slovenia.svg.png
Slovenia 52,930 2011 est.
97
image: https://upload.wikimedia.org/wikipedia/commons/thumb/2/2c/Flag_of_Bahrain.svg/23px-Flag_of_Bahrain.svg.png
Bahrain 51,450 2012 est.
98
image: https://upload.wikimedia.org/wikipedia/commons/thumb/f/fe/Flag_of_Uruguay.svg/23px-Flag_of_Uruguay.svg.png
Uruguay 51,100 2011 est.
99
image: https://upload.wikimedia.org/wikipedia/commons/thumb/f/f2/Flag_of_Costa_Rica.svg/23px-Flag_of_Costa_Rica.svg.png
Costa Rica 50,200 2011 est.
100
image: https://upload.wikimedia.org/wikipedia/commons/thumb/7/71/Flag_of_Ethiopia.svg/23px-Flag_of_Ethiopia.svg.png
Ethiopia 49,080 2011 est.
101
image: https://upload.wikimedia.org/wikipedia/commons/thumb/2/2f/Flag_of_Armenia.svg/23px-Flag_of_Armenia.svg.png
Armenia 45,300 2011 est.
102
image: https://upload.wikimedia.org/wikipedia/commons/thumb/3/34/Flag_of_El_Salvador.svg/23px-Flag_of_El_Salvador.svg.png
El Salvador 44,040 2011 est.
103
image: https://upload.wikimedia.org/wikipedia/commons/thumb/3/38/Flag_of_Tanzania.svg/23px-Flag_of_Tanzania.svg.png
Tanzania 43,310 2011 est.
104
image: https://upload.wikimedia.org/wikipedia/commons/thumb/6/64/Flag_of_Trinidad_and_Tobago.svg/23px-Flag_of_Trinidad_and_Tobago.svg.png
Trinidad and Tobago 41,000 2011 est.
105
image: https://upload.wikimedia.org/wikipedia/commons/thumb/8/8c/Flag_of_Myanmar.svg/23px-Flag_of_Myanmar.svg.png
Burma 40,620 2011 est.
106
image: https://upload.wikimedia.org/wikipedia/commons/thumb/f/fd/Flag_of_Senegal.svg/23px-Flag_of_Senegal.svg.png
Senegal 40,600 2011 est.
107
image: https://upload.wikimedia.org/wikipedia/commons/thumb/8/83/Flag_of_Cambodia.svg/23px-Flag_of_Cambodia.svg.png
Cambodia 39,350 2011 est.
108
image: https://upload.wikimedia.org/wikipedia/commons/thumb/3/36/Flag_of_Albania.svg/21px-Flag_of_Albania.svg.png
Albania 38,390 2011 est.
109
image: https://upload.wikimedia.org/wikipedia/commons/thumb/e/e3/Flag_of_Papua_New_Guinea.svg/20px-Flag_of_Papua_New_Guinea.svg.png
Papua New Guinea 36,320 2011 est.
110
image: https://upload.wikimedia.org/wikipedia/commons/thumb/9/93/Flag_of_the_Bahamas.svg/23px-Flag_of_the_Bahamas.svg.png
Bahamas 36,300 2011 est.
111
image: https://upload.wikimedia.org/wikipedia/commons/thumb/8/84/Flag_of_Latvia.svg/23px-Flag_of_Latvia.svg.png
Latvia 31,340 2011 est.
112
image: https://upload.wikimedia.org/wikipedia/commons/thumb/1/19/Flag_of_Nicaragua.svg/23px-Flag_of_Nicaragua.svg.png
Nicaragua 30,690 2011 est.
113
image: https://upload.wikimedia.org/wikipedia/commons/thumb/4/4f/Flag_of_Cameroon.svg/23px-Flag_of_Cameroon.svg.png
Cameroon 29,410 2011 est.
114
image: https://upload.wikimedia.org/wikipedia/commons/thumb/0/00/Flag_of_Palestine.svg/23px-Flag_of_Palestine.svg.png
West Bank 29,310 2011 est.
115
image: https://upload.wikimedia.org/wikipedia/commons/thumb/0/0a/Flag_of_Benin.svg/23px-Flag_of_Benin.svg.png
Benin 29,170 2011 est.
116
image: https://upload.wikimedia.org/wikipedia/commons/thumb/6/68/Flag_of_Togo.svg/23px-Flag_of_Togo.svg.png
Togo 28,670 2011 est.
117
image: https://upload.wikimedia.org/wikipedia/commons/thumb/b/bf/Flag_of_Bosnia_and_Herzegovina.svg/23px-Flag_of_Bosnia_and_Herzegovina.svg.png
Bosnia and Herzegovina 27,540 2011 est.
118
image: https://upload.wikimedia.org/wikipedia/commons/thumb/2/27/Flag_of_Paraguay.svg/23px-Flag_of_Paraguay.svg.png
Paraguay 26,820 2011 est.
119
image: https://upload.wikimedia.org/wikipedia/commons/thumb/8/8f/Flag_of_Estonia.svg/23px-Flag_of_Estonia.svg.png
Estonia 26,340 2011 est.
120
image: https://upload.wikimedia.org/wikipedia/commons/thumb/0/02/Flag_of_Gibraltar.svg/23px-Flag_of_Gibraltar.svg.png
Gibraltar 24,920 2011 est.
121
image: https://upload.wikimedia.org/wikipedia/commons/thumb/7/77/Flag_of_Mauritius.svg/23px-Flag_of_Mauritius.svg.png
Mauritius 24,710 2011 est.
122
image: https://upload.wikimedia.org/wikipedia/commons/thumb/f/fe/Flag_of_C%C3%B4te_d%27Ivoire.svg/23px-Flag_of_C%C3%B4te_d%27Ivoire.svg.png
Cte d'Ivoire 24,630 2011 est.
123
image: https://upload.wikimedia.org/wikipedia/commons/thumb/0/00/Flag_of_Namibia.svg/23px-Flag_of_Namibia.svg.png
Namibia 22,990 2011 est.
124
image: https://upload.wikimedia.org/wikipedia/commons/thumb/4/4c/Flag_of_Mongolia.svg/23px-Flag_of_Mongolia.svg.png
Mongolia 21,610 2011 est.
125
image: https://upload.wikimedia.org/wikipedia/commons/thumb/c/ce/Flag_of_Iceland.svg/21px-Flag_of_Iceland.svg.png
Iceland 20,770 2011 est.
126
image: https://upload.wikimedia.org/wikipedia/commons/thumb/d/d0/Flag_of_Tajikistan.svg/23px-Flag_of_Tajikistan.svg.png
Tajikistan 20,090 2013 est.
127
image: https://upload.wikimedia.org/wikipedia/commons/thumb/d/d0/Flag_of_Mozambique.svg/23px-Flag_of_Mozambique.svg.png
Mozambique 19,580 2011 est.
128
image: https://upload.wikimedia.org/wikipedia/commons/thumb/7/73/Flag_of_Malta.svg/23px-Flag_of_Malta.svg.png
Malta 19,520 2011 est.
129
image: https://upload.wikimedia.org/wikipedia/commons/thumb/0/06/Flag_of_Zambia.svg/23px-Flag_of_Zambia.svg.png
Zambia 19,260 2011 est.
130
image: https://upload.wikimedia.org/wikipedia/commons/thumb/6/6a/Flag_of_Zimbabwe.svg/23px-Flag_of_Zimbabwe.svg.png
Zimbabwe 19,030 2011 est.
131
image: https://upload.wikimedia.org/wikipedia/commons/thumb/9/9b/Flag_of_Nepal.svg/16px-Flag_of_Nepal.svg.png
Nepal 18,430 2011 est.
132
image: https://upload.wikimedia.org/wikipedia/commons/thumb/4/43/Flag_of_Mauritania.svg/23px-Flag_of_Mauritania.svg.png
Mauritania 18,120 2011 est.
133
image: https://upload.wikimedia.org/wikipedia/commons/thumb/b/ba/Flag_of_Fiji.svg/23px-Flag_of_Fiji.svg.png
Fiji 17,810 2011 est.
134
image: https://upload.wikimedia.org/wikipedia/commons/thumb/f/f8/Flag_of_Macedonia.svg/23px-Flag_of_Macedonia.svg.png
Macedonia 17,490 2011 est.
135
image: https://upload.wikimedia.org/wikipedia/commons/thumb/b/bc/Flag_of_Madagascar.svg/23px-Flag_of_Madagascar.svg.png
Madagascar 17,480 2011 est.
136
image: https://upload.wikimedia.org/wikipedia/commons/thumb/0/0f/Flag_of_Georgia.svg/23px-Flag_of_Georgia.svg.png
Georgia 17,280 2011 est.
137
image: https://upload.wikimedia.org/wikipedia/commons/thumb/4/4e/Flag_of_Uganda.svg/23px-Flag_of_Uganda.svg.png
Uganda 16,930 2011 est.
138
image: https://upload.wikimedia.org/wikipedia/commons/thumb/c/c7/Flag_of_Kyrgyzstan.svg/23px-Flag_of_Kyrgyzstan.svg.png
Kyrgyzstan 16,640 2011 est.
139
image: https://upload.wikimedia.org/wikipedia/commons/thumb/0/04/Flag_of_Gabon.svg/20px-Flag_of_Gabon.svg.png
Gabon 15,800 2011 est.
140
image: https://upload.wikimedia.org/wikipedia/commons/thumb/f/fa/Flag_of_Botswana.svg/23px-Flag_of_Botswana.svg.png
Botswana 15,420 2011 est.
141
image: https://upload.wikimedia.org/wikipedia/commons/thumb/2/27/Flag_of_Moldova.svg/23px-Flag_of_Moldova.svg.png
Moldova 15,320 2012 est.
142
image: https://upload.wikimedia.org/wikipedia/commons/thumb/5/51/Flag_of_North_Korea.svg/23px-Flag_of_North_Korea.svg.png
North Korea 15,000 2012 est.
143
image: https://upload.wikimedia.org/wikipedia/commons/thumb/9/9c/Flag_of_Brunei.svg/23px-Flag_of_Brunei.svg.png
Brunei 14,640 2011 est.
144
image: https://upload.wikimedia.org/wikipedia/commons/thumb/0/07/Flag_of_Guam.svg/23px-Flag_of_Guam.svg.png
Guam 14,490 2011 est.
145
image: https://upload.wikimedia.org/wikipedia/commons/thumb/6/60/Flag_of_Suriname.svg/23px-Flag_of_Suriname.svg.png
Suriname 14,100 2011 est.
146
image: https://upload.wikimedia.org/wikipedia/commons/thumb/5/56/Flag_of_Haiti.svg/23px-Flag_of_Haiti.svg.png
Haiti 14,000 2011 est.
147
image: https://upload.wikimedia.org/wikipedia/commons/thumb/8/88/Pro-Independence_Flag_of_New_Caledonia.svg/23px-Pro-Independence_Flag_of_New_Caledonia.svg.png
New Caledonia 13,640 2011 est.
148
image: https://upload.wikimedia.org/wikipedia/commons/thumb/3/34/Flag_of_Djibouti.svg/23px-Flag_of_Djibouti.svg.png
Djibouti 12,460 2011 est.
149
image: https://upload.wikimedia.org/wikipedia/commons/thumb/d/d1/Flag_of_Malawi.svg/23px-Flag_of_Malawi.svg.png
Malawi 12,060 2011 est.
150
image: https://upload.wikimedia.org/wikipedia/commons/thumb/9/99/Flag_of_Guyana.svg/23px-Flag_of_Guyana.svg.png
Guyana 10,910 2011 est.
151
image: https://upload.wikimedia.org/wikipedia/commons/thumb/9/92/Flag_of_the_Republic_of_the_Congo.svg/23px-Flag_of_the_Republic_of_the_Congo.svg.png
Republic of the Congo 10,710 2011 est.
152
image: https://upload.wikimedia.org/wikipedia/commons/thumb/6/6f/Flag_of_the_Democratic_Republic_of_the_Congo.svg/20px-Flag_of_the_Democratic_Republic_of_the_Congo.svg.png
Democratic Republic of the Congo 10,240 2011 est.
153
image: https://upload.wikimedia.org/wikipedia/commons/thumb/3/31/Flag_of_Burkina_Faso.svg/23px-Flag_of_Burkina_Faso.svg.png
Burkina Faso 9,960 2011 est.
154
image: https://upload.wikimedia.org/wikipedia/commons/thumb/1/17/Flag_of_Sierra_Leone.svg/23px-Flag_of_Sierra_Leone.svg.png
Sierra Leone 8,768 2011 est.
155
image: https://upload.wikimedia.org/wikipedia/commons/thumb/e/ed/Flag_of_Guinea.svg/23px-Flag_of_Guinea.svg.png
Guinea 8,671 2011 est.
156
image: https://upload.wikimedia.org/wikipedia/commons/thumb/e/ef/Flag_of_Barbados.svg/23px-Flag_of_Barbados.svg.png
Barbados 8,339 2011 est.
157
image: https://upload.wikimedia.org/wikipedia/commons/thumb/d/db/Flag_of_French_Polynesia.svg/23px-Flag_of_French_Polynesia.svg.png
French Polynesia 8,000 2011 est.
158
image: https://upload.wikimedia.org/wikipedia/commons/thumb/f/fc/Flag_of_Seychelles.svg/23px-Flag_of_Seychelles.svg.png
Seychelles 7,793 2011 est.
159
image: https://upload.wikimedia.org/wikipedia/commons/thumb/6/63/Flag_of_Macau.svg/23px-Flag_of_Macau.svg.png
Macau 7,376 2013 est.
160
image: https://upload.wikimedia.org/wikipedia/commons/thumb/e/e7/Flag_of_Belize.svg/23px-Flag_of_Belize.svg.png
Belize 7,044 2011 est.
161
image: https://upload.wikimedia.org/wikipedia/commons/thumb/0/0f/Flag_of_Maldives.svg/23px-Flag_of_Maldives.svg.png
Maldives 6,875 2011 est.
162
image: https://upload.wikimedia.org/wikipedia/commons/thumb/f/f6/Flag_of_Aruba.svg/23px-Flag_of_Aruba.svg.png
Aruba 5,661 2011 est.
163
image: https://upload.wikimedia.org/wikipedia/commons/thumb/a/a0/Flag_of_Somalia.svg/23px-Flag_of_Somalia.svg.png
Somalia 5,659 2011 est.
164
image: https://upload.wikimedia.org/wikipedia/commons/thumb/f/f4/Flag_of_Niger.svg/18px-Flag_of_Niger.svg.png
Niger 5,629 2011 est.
165
image: https://upload.wikimedia.org/wikipedia/commons/thumb/1/17/Flag_of_Rwanda.svg/23px-Flag_of_Rwanda.svg.png
Rwanda 5,245 2011 est.
166
image: https://upload.wikimedia.org/wikipedia/commons/thumb/8/87/Flag_of_American_Samoa.svg/23px-Flag_of_American_Samoa.svg.png
American Samoa 5,115 2011 est.
167
image: https://upload.wikimedia.org/wikipedia/commons/thumb/8/89/Flag_of_Antigua_and_Barbuda.svg/23px-Flag_of_Antigua_and_Barbuda.svg.png
Antigua and Barbuda 5,000 2011 est.
168
image: https://upload.wikimedia.org/wikipedia/commons/thumb/9/92/Flag_of_Mali.svg/23px-Flag_of_Mali.svg.png
Mali 4,994 2011 est.
169
image: https://upload.wikimedia.org/wikipedia/commons/thumb/3/3c/Flag_of_the_Faroe_Islands.svg/21px-Flag_of_the_Faroe_Islands.svg.png
Faroe Islands 4,871 2011 est.
170
image: https://upload.wikimedia.org/wikipedia/commons/thumb/1/1e/Flag_of_Swaziland.svg/23px-Flag_of_Swaziland.svg.png
Swaziland 4,567 2011 est.
171
image: https://upload.wikimedia.org/wikipedia/commons/thumb/2/29/Flag_of_Eritrea.svg/23px-Flag_of_Eritrea.svg.png
Eritrea 4,480 2011 est.
172
image: https://upload.wikimedia.org/wikipedia/commons/thumb/6/64/Flag_of_Montenegro.svg/23px-Flag_of_Montenegro.svg.png
Montenegro 4,446 2011 est.
173
image: https://upload.wikimedia.org/wikipedia/commons/thumb/9/9a/Flag_of_Afghanistan.svg/23px-Flag_of_Afghanistan.svg.png
Afghanistan 4,229 2011 est.
174
image: https://upload.wikimedia.org/wikipedia/commons/thumb/0/09/Flag_of_Greenland.svg/23px-Flag_of_Greenland.svg.png
Greenland 3,897 2011 est.
175
image: https://upload.wikimedia.org/wikipedia/commons/thumb/b/b8/Flag_of_Liberia.svg/23px-Flag_of_Liberia.svg.png
Liberia 3,533 2011 est.
176
image: https://upload.wikimedia.org/wikipedia/commons/thumb/5/56/Flag_of_Laos.svg/23px-Flag_of_Laos.svg.png
Laos 3,391 2011 est.
177
image: https://upload.wikimedia.org/wikipedia/commons/thumb/7/77/Flag_of_The_Gambia.svg/23px-Flag_of_The_Gambia.svg.png
Gambia 3,181 2011 est.
178
image: https://upload.wikimedia.org/wikipedia/commons/thumb/6/6f/Flag_of_the_Central_African_Republic.svg/23px-Flag_of_the_Central_African_Republic.svg.png
Central African Republic 3,175 2011 est.
179
image: https://upload.wikimedia.org/wikipedia/commons/thumb/0/0f/Flag_of_the_Cayman_Islands.svg/23px-Flag_of_the_Cayman_Islands.svg.png
Cayman Islands 3,141 2011 est.
180
image: https://upload.wikimedia.org/wikipedia/commons/thumb/0/01/Flag_of_Guinea-Bissau.svg/23px-Flag_of_Guinea-Bissau.svg.png
Guinea-Bissau 2,922 2011 est.
181
image: https://upload.wikimedia.org/wikipedia/commons/thumb/9/9f/Flag_of_Saint_Lucia.svg/23px-Flag_of_Saint_Lucia.svg.png
Saint Lucia 2,922 2011 est.
182
image: https://upload.wikimedia.org/wikipedia/commons/thumb/b/bc/Flag_of_Grenada.svg/23px-Flag_of_Grenada.svg.png
Grenada 2,803 2011 est.
183
image: https://upload.wikimedia.org/wikipedia/commons/thumb/2/26/Flag_of_East_Timor.svg/23px-Flag_of_East_Timor.svg.png
Timor-Leste 2,755 2011 est.
184
image: https://upload.wikimedia.org/wikipedia/commons/thumb/b/bf/Flag_of_Bermuda.svg/23px-Flag_of_Bermuda.svg.png
Bermuda 2,747 2012 est.
185
image: https://upload.wikimedia.org/wikipedia/commons/thumb/3/38/Flag_of_Cape_Verde.svg/23px-Flag_of_Cape_Verde.svg.png
Cabo Verde 2,608 2011 est.
186
image: https://upload.wikimedia.org/wikipedia/commons/thumb/5/50/Flag_of_Burundi.svg/23px-Flag_of_Burundi.svg.png
Burundi 2,290 2011 est.
187
image: https://upload.wikimedia.org/wikipedia/commons/thumb/2/26/Flag_of_the_Sahrawi_Arab_Democratic_Republic.svg/23px-Flag_of_the_Sahrawi_Arab_Democratic_Republic.svg.png
Western Sahara 1,948 2011 est.
188
image: https://upload.wikimedia.org/wikipedia/commons/thumb/6/6d/Flag_of_Saint_Vincent_and_the_Grenadines.svg/23px-Flag_of_Saint_Vincent_and_the_Grenadines.svg.png
Saint Vincent and the Grenadines 1,948 2011 est.
189
image: https://upload.wikimedia.org/wikipedia/commons/thumb/4/4b/Flag_of_Chad.svg/23px-Flag_of_Chad.svg.png
Chad 1,817 2011 est.
190
image: https://upload.wikimedia.org/wikipedia/commons/thumb/4/4a/Flag_of_Lesotho.svg/23px-Flag_of_Lesotho.svg.png
Lesotho 1,777 2011 est.
191
image: https://upload.wikimedia.org/wikipedia/commons/thumb/7/74/Flag_of_the_Solomon_Islands.svg/23px-Flag_of_the_Solomon_Islands.svg.png
Solomon Islands 1,728 2011 est.
192
image: https://upload.wikimedia.org/wikipedia/commons/thumb/9/91/Flag_of_Bhutan.svg/23px-Flag_of_Bhutan.svg.png
Bhutan 1,719 2011 est.
193
image: https://upload.wikimedia.org/wikipedia/commons/thumb/3/31/Flag_of_Equatorial_Guinea.svg/23px-Flag_of_Equatorial_Guinea.svg.png
Equatorial Guinea 1,588 2011 est.
194
image: https://upload.wikimedia.org/wikipedia/commons/thumb/f/fe/Flag_of_Saint_Kitts_and_Nevis.svg/23px-Flag_of_Saint_Kitts_and_Nevis.svg.png
Saint Kitts and Nevis 1,496 2011 est.
195
image: https://upload.wikimedia.org/wikipedia/commons/thumb/9/9a/Flag_of_Tonga.svg/23px-Flag_of_Tonga.svg.png
Tonga 1,221 2011 est.
196
image: https://upload.wikimedia.org/wikipedia/commons/thumb/b/bc/Flag_of_Vanuatu.svg/23px-Flag_of_Vanuatu.svg.png
Vanuatu 1,170 2011 est.
197
image: https://upload.wikimedia.org/wikipedia/commons/thumb/3/31/Flag_of_Samoa.svg/23px-Flag_of_Samoa.svg.png
Samoa 1,070 2011 est.
198
image: https://upload.wikimedia.org/wikipedia/commons/thumb/9/94/Flag_of_the_Comoros.svg/23px-Flag_of_the_Comoros.svg.png
Comoros 1,025 2011 est.
199
image: https://upload.wikimedia.org/wikipedia/commons/thumb/3/30/Flag_of_Nauru.svg/23px-Flag_of_Nauru.svg.png
Nauru 1,000 2011 est.
200
image: https://upload.wikimedia.org/wikipedia/commons/thumb/d/d0/Flag_of_Montserrat.svg/23px-Flag_of_Montserrat.svg.png
Montserrat 1,000 2011 est.
201
image: https://upload.wikimedia.org/wikipedia/commons/thumb/4/42/Flag_of_the_British_Virgin_Islands.svg/23px-Flag_of_the_British_Virgin_Islands.svg.png
British Virgin Islands 1,000 2011 est.
202
image: https://upload.wikimedia.org/wikipedia/commons/thumb/a/a0/Flag_of_the_Turks_and_Caicos_Islands.svg/23px-Flag_of_the_Turks_and_Caicos_Islands.svg.png
Turks and Caicos Islands 999 2011 est.
203
image: https://upload.wikimedia.org/wikipedia/commons/thumb/3/35/Flag_of_the_Cook_Islands.svg/23px-Flag_of_the_Cook_Islands.svg.png
Cook Islands 974 2011 est.
204
image: https://upload.wikimedia.org/wikipedia/en/thumb/c/c3/Flag_of_France.svg/23px-Flag_of_France.svg.png
Saint Pierre and Miquelon 974 2011 est.
205
image: https://upload.wikimedia.org/wikipedia/commons/thumb/c/c4/Flag_of_Dominica.svg/23px-Flag_of_Dominica.svg.png
Dominica 918 2011 est.
206
image: https://upload.wikimedia.org/wikipedia/commons/thumb/4/4f/Flag_of_Sao_Tome_and_Principe.svg/23px-Flag_of_Sao_Tome_and_Principe.svg.png
Sao Tome and Principe 904 2011 est.
207
image: https://upload.wikimedia.org/wikipedia/commons/thumb/8/83/Flag_of_the_Falkland_Islands.svg/23px-Flag_of_the_Falkland_Islands.svg.png
Falkland Islands 300 2011 est.
208
image: https://upload.wikimedia.org/wikipedia/commons/thumb/d/d3/Flag_of_Kiribati.svg/23px-Flag_of_Kiribati.svg.png
Kiribati 300 2011 est.
209
image: https://upload.wikimedia.org/wikipedia/commons/thumb/0/00/Flag_of_Saint_Helena.svg/23px-Flag_of_Saint_Helena.svg.png
Saint Helena 100 2011 est.
To: madmax123 who wrote (38522) 9/4/2015 3:26:56 PM
From: zen_lunatic420 4 Recommendations Read Replies (1)
38527
of 39659
EUO/SIPCA market perspective: GFI's three current clients amount to 98,630 bbl/day of world oil consumption. In rank order of the world's largest oil consumers they are #103 (Tanzenia), #108 (Albania), and #137 (Uganda). Panama consumes more oil than all three of GFI's current clients combined and ranks #77 with 98,890 bbl/day of oil consumption. Given that Mexico ranks #11 with 2,133,000 bbl/day, it could be said that a contract with any top 11 country could grow GFI's sales by 20-fold or more. SIPCA currently has offices in 8 of those 11 countries. (2)
Likewise the Netherlands ranks #20 with consumption of 1,010,000 bbl/day, so it could be said that a contract with any top 20 consumption country could grow GFI's sales by at least 10-fold. SIPCA currently has offices in 7 of those 9 additional countries.
Succinctly, it could be said that there are 20 countries that could grow GFI's business by 10-fold, SIPCA has offices in 15 of those countries.
What does all this mean for the potential royalty flow to EUO?
If one of the top 20 countries could grow GFI's business by 10-fold or more, that means:
10*(H1 annualized total GFI revenue from latest financials = 6, 100, 000) = new total GFI revenue if they signed a top 10 contract, or $61,000,000 in chemical marker sales potential for a top 20 country.
Then if we conservatively double that value to represent the total value to the new GFI under SIPCA, who would also provide the logistics for a fuel marking program, the total contract value for a top 20 country could be $122,000,000 or more.
Then the royalty due EUO is 5%, so $122,000,000 *(5% royalty) = $6,100,000 for just one contract with the smallest (#20) of the top 20 producers...ANNUALLY. Proportionally, a contract with one of the top 11 oil consumers could be double that....or $12,000,000 in ANNUAL royalties for just one of the top 11 countries!
I am heavily weighted in this stock and do believe SIPCA has potential to bring GFI more than one of these game changing contracts with some top 20 oil consuming countries in the wold.
References:
(1) List of Countries by Oil Consumpion: en.wikipedia.org
(2) SIPCA location: sicpa.com
Read more at http://www.stockhouse.com/companies/bullboard/bullboard/v.euo/eurocontrol-technics-group-inc#SjRFfpePX1Rp4T4x.99
No problem shummer . This is one of my favorite plays in a long while if not ever. Take the time to listen to Philippe Amon at the 54 min mark on that video. For the owner of SICPA and a billionaire to go to that summit and start promoting fuel marking tech when they have not even closed the GFI purchase yet speaks volumes.
I for one refuse to sell my shares into a beleaguered and beaten TSX-V market where you can not begin to get the real value of your shares. I will hold until this little romance between EUO and SICPA evolves into a marriage and I will cash out then.
Estimated length of engagement ??? 10 to 20 months. ROI vs selling now 500 to 750% upon wedding announcement. LOL
Return like that I can wait for. The cincher here is the more contracts that SICPA gets signed for GFI services the more they will have to pay for EUO . It is a built in incentive for a takeout. The bigger the royalty cheque the more sense it makes to just bite the bullet and buy the works. Capper is that the other two divisions are also perfect fits in the SICPA fold.
This one is a WINNER!!
Thanks for sharing Ayeyou
That is the man himself Owner and CEO of SICPA at the Atlantic Council Energy Summit speaking on the merits of their fuel marking technology. 1 to 5 TRILLION dollar market he says. They must really like GFI at Sicpa because they could not wait to take it out and show it off.
This is fantastic news for EUO !! I can just see those royalty cheques stacking up.
Philippe Amon
Chairman & CEO, SICPA Holding SA
Philippe Amon is Owner, Chairman of the Board and CEO of SICPA Holding SA, Switzerland. He has been with SICPA since 1984 and became a Chairman of the Board and the CEO since 2011. Mr. Among is a significant contributor in fields such: science, medicine, education, culture, art, human rights, neuroscience research, personally and through Argaman Foundation and SICPA Foundation. In 1983 he worked at De La Rue Company in the UK. Mr. Amon holds BSc in Economic Science. He also studied Business Administration at HEC University of Lausanne. He received a medal of honour, Comendador Ordem de Rio Branco, Brazil.
EUO shareholders might be interested to look at this video from 0:54, just saying ... :)
EUO announced the long-awaited finalization of the purchase agreement between itself and SICPA for the sale of Global Fluids International S.A. as well as an exclusive long-term supply, maintenance and support agreement. Highlights of the deal include:
Cash consideration payable to the Company by SICPA on closing of $16 million (less the $250,000 deposit received by the Company and $286,000 in transaction payments, and assuming that, on closing, GFI has positive working capital of $1,000,000), subject to a working capital adjustment and settlement of loan amounts owing by Eurocontrol to GFI. The loan outstanding to former GFI shareholders is about $1 million (see note 13 of the company's Q2 financial statements). The cash/working capital amount on the pro forma balance sheet after the deal is closed is estimated to be $17 million, or 19 cents per share.
Post-closing earn-out payments equal to 5% of the net revenues earned by GFI from contracts entered into by it following the execution of the Purchase Agreement and during the period ending six years from the closing of the transaction, with a minimum guaranteed of $1.5 million per year for the six years earn-out period. The total payment will be least $9,000,000. Discounting those guaranteed cash flows at 10% annually leads to an NPV of $6.53 million, or 7.3 cents per share.
Additional post-closing payments equal to 5% of the net revenues earned by GFI from contracts signed during the fourth through sixth years following closing paid until the third anniversary of such contracts.
The strategic relationship with SICPA is intended to allow Eurocontrol to accelerate the fulfilment of its current objective of growing Xenemetrix's existing business through its ongoing support of GFI's business, on an exclusive basis, in the field of oil and gas marking and monitoring under the Supply Agreement.
GFI has an annualized run rate of about $6 million in revenue so the $1.5 million guaranteed payment is 25% of that. Clearly SICPA signed this deal with the expectation that the growth rate in the business will be extremely high considering its ability to procure contracts in government security and GFI's expanded logistics offering. SICPA is a private company which doesn't report financials so it can be anyone's guess as to their expectation for this subsidiary but given that revenue for the company is in the billions and this marks its expansion into the Petromarking business, $200 million in total revenue for GFI in six years is achievable:
Assuming a 15% discount rate on the royalty in excess of the $1.5 guaranteed minimum payment over the next six years, that leads to another 18 cents per share of value. The Gold Report has updated its 1-year target on EUO to $0.50 based on $0.26 of value in the cash component of the deal, $0.18 in the potential excess cash flows from the expanded GFI business and a nominal $0.06 in value for the company's remaining two subsidiaries. Clearly Xenemetrix is worth more than $5M in value considering the exclusive agreement it will have with GFI, but given the extremely low valuations attributed to TSX Venture stock right now, it is best to be conservative when valuing speculative businesses.
A three year target has been removed since The Gold Report believes that it's likely that EUO will get bought out before it has a chance to reach $1.50 in value. What makes the EUO story so compelling is not so much it's upside, which is estimated to be at least 3 times its current stock price, but it's very limited downside. EUO is getting an upfront cash per share amount in excess of its market cap of $15 million. The TSX Venture has been so brutal for traders that they are sensitive and very weary of chasing stocks that are near their 52-week highs. EUO has had an amazing 2015 and is up 175% this year so it has been subject to profit taking, but this deal ensures that EUO will only have more to rise from here.
Toronto, CANADA, November 26, 2015 - Eurocontrol Technics Group Inc. (TSX Venture: EUO) (“Eurocontrol” or the “Company”), a Canadian public company specializing in the acquisition, development and commercialization of innovative energy security, authentication, verification and certification technologies, announces that it has filed its financial statements and Management’s Discussion and Analysis (“MD&A”) for its third quarter ending September 30, 2015.
On November 6, 2015, the Company entered into a purchase agreement (the “Purchase Agreement”) to sell 100% of its wholly owned subsidiary, Global Fluids International S.A. (“GFI”) to SICPA Finance SA (“SICPA”), a subsidiary of SICPA SA, each a privately owned company based in Switzerland, in exchange for cash and post-closing earn-out payments and certain additional payments as further described below. The completion of the transactions contemplated by the Purchase Agreement is subject to the prior satisfaction of a number of conditions, including the approval of the sale of GFI by the Company’s shareholders, which approval will be sought at a special meeting of shareholders that has been scheduled for December 18, 2015, and the final approval of the TSX Venture Exchange. However, notwithstanding these conditions, in accordance with International Financial Reporting Standards (“IFRS”), the financial statements and MD&A are presented on an adjusted basis to include discontinued operations. For a reconciliation of discontinued operations, readers should refer to “Adjusted Revenue and Profit from Continuing Operations” and the “Reconciliation of IFRS to Adjusted Results” as presented below and in the MD&A.
Bruce Rowlands, Chairman and Chief Executive Officer of the Company stated: “Our third quarter results are in line with our expectations as we head towards the special meeting of shareholders on December 18, 2015 for the approval of the sale of GFI. The transaction builds on the foundation constructed by Eurocontrol over the past 10 years, and the long term supply and support agreement to be entered into by Xenemetrix and GFI is expected to provide Eurocontrol with the resources necessary to grow the businesses of its remaining subsidiaries and also allow the Company to continue to have significant exposure to the fuel marking market, where we began, through guaranteed minimum earn-out payments.”
Key Financial Highlights for the nine months ended September 30, 2015, including discontinued operations
Adjusted consolidated EBITDA, including discontinued operations, increased by $299,634 or 74% to $702,652;
Adjusted consolidated revenues, including discontinued operations, increased by 25% to $5,658,885 as compared to $4,502,508 in the prior year. This increase is mainly due to increased sales of fuel marker plus the impact of the depreciation of the Canadian dollars versus the US currency;
Adjusted cash flow from operating activities, including discontinued operations, increased to $300,367 from $40,892 in the prior year;
Adjusted cash flow from investing activities, including discontinued operations, increased to $219,108 from $-38,753 in the prior year;
Investment in R&D increased by 128% to $1,076,330 towards developing EDXRF technology and automated 2D and 3D image processing technologies for the Semiconductor and related microelectronics industries.
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Fundamental Data - EUO |
Security Type | Equity |
Shares Issued | 89,535,738 |
Market Cap | 16,116,000 |
Year High | 0.205 |
Year Low | 0.045 |
Sector | 20104010 - Electrical Components & Equipment |
Toronto, CANADA, September 17, 2015 - Eurocontrol Technics Group Inc. (TSX Venture: EUO) (“Eurocontrol” or the “Company”), a Canadian public company specializing in the acquisition, development and commercialization of innovative energy security, authentication, verification and certification technologies, is pleased to announce that Canadian Business and PROFIT today ranked Eurocontrol No. 221 on the 27th annual PROFIT 500. Ranking Canada’s Fastest-Growing Companies by five-year revenue growth, the PROFIT 500 profiles Canada’s most successful growth companies. A joint venture between Canada’s premier business brands, the PROFIT 500 is published in the July issue of Canadian Business and online at PROFITguide.com.
Eurocontrol made the 2015 PROFIT 500 list with five-year revenue growth of 267% an increase of 123% over the 144% five-year revenue growth in 2014. The Company’s ranking on the list improved as well – No. 221 versus No. 337 in 2014.
“The PROFIT 500 represent the highest tier of entrepreneurialism in Canada,” says James Cowan, Editor-in-chief of PROFIT and Canadian Business. “They should be lauded for the positive economic contributions they’ve made to their communities—and the entire country. They are examples of what can be accomplished with innovation, discipline and determination."
Bruce Rowlands, Chairman and Chief Executive Officer stated: “We are very pleased to be acknowledged by the PROFIT 500 list of Canada’s Fastest-Growing Companies for the second year and look forward to being included on the list in future years as Eurocontrol captures royalties from its anticipated agreement with SICPA and expands its business focus in the authentication space.”
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