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To say the company has debt is an understatement.It has over a million in debt and potential liabilities that include lawsuits and potential lawsuits.The ceo has shown that he knows nothing about the market his stock trades on given the 2 reverse stock splits in 2 years.By the way being you're such a know it all here what happened to all the money raised which happened to be over 1 million dollars?Certainly it didn't cost over a million to build that one unit that nobody knows if it even works.So with over a million in old debt,lawsuits,no office,no product,no employee's and no money the future sure is bright for GEI
The split took place over a year ago. Although the outstanding shares and float have increased, it has been done in a responsible fashion. Roughly 90% of the outstanding shares are restricted. That tells me and other longs that Berry is working hard in the background to bring real shareholder value.
Long and still adding
I think people like you should invest in GM, Oh wait they went BK and screwed all their shareholders down to ZERO, nothing, zilch...
GEI is a startup new tech co and there is risk, the co has debt. But as everyone can see there have not been a pile of free trading shares issued and dumped.
As for no product ? really ? the tech itself is licensible for potentionally tens of millions of dollars if they just wanted to do that, but they keep chugging along, be it slowly. SO only time will tell.
Position: Long and holding
like with all risky startups the rewards can be BIG
The OS went from 1 plus million to over 10 million since the second reverse split in 2 years,you think he's not going to or has not issued new shares for old debt? He has no other way to pay down previous debt being there is no product,no sales and a clueless classless ceo
Proof? Has the share count changed from 10.9 mill?
The good dr has begun the dilution game,the only game he knows to put money in his pockets.2 huge ratio reverse splits in 2 yrs and over one million in debt still on the books.All of these press releases and not one can be substantiated.But no production,so where did all the money go?
I don't give. me more details I can look into it.
I spoke to OtcMarkets about the OTC Pink Limited Information Yield sign.From what I gather the good dr has filed the past two 8k's to keep the yield sign and that would enable him to issue S8 and other stock to his cronies.I was told that these two 8k's are the bare minimum to keep the Yield sign and be able to issue and clear stock.So now the good dr shows his real love for dilution after two reverse splits,screwing prior creditors, with no place of business,no product,delinquent filings,huge debt owed,current and open lawsuits and the simple fact he has wasted almost two million dollars with nothing to show for it but failure.If I was his professor he would get an F.But I'm not so I'm going to make this my project as I did with acd_ which was suspended with my help and of course the scam company's to.
30,000 shares traded today and over that on Friday,where are they coming from?Where is all the money that was raised last year?Look for sub penny here shortly,this is an obvious fraud with all these no good phony press releases, shares that were issued and then reversed twice.Gonna be funny seeing a college professor doing a perp walk.
30,000 shares traded today and over that on Friday,where are they coming from?Where is all the money that was raised last year?Look for sub penny here shortly,this is an obvious fraud with all these no good press releases and shares that were issued.Gonna be funny seeing a college professor doing a perp walk.
Approx one year ago the good dr did his second reverse split after diluting the shareholders to death for the second time which left one million of the two point five Billion shares in the float at the time.The stock was repriced after the reverse at .25,now one year later there are ten times the amount issued and outstanding from the repriced reverse split shares.But the stock is now priced at .05.You can bet that the good dr is issuing S8 shares,because there is no other way to dilute with freely trading shares.Of course we also know the good dr doesn't place any value on common shares given his love for dilution to death.But where did all the money go?As I did with acd_ I have begun a letter writing campaign with the help of other good people to the SEC,The Finra and other government agencies.I helped take down the ACD_ scam and I will enjoy doing this one to.
Please do tell how there can be 25,000 shares on the bottom three offers?There is now over 10 million issued and outstanding.This stock has been reverse split twice in 2 yrs last being 2500 ratio.I did notice prior to the reverse split that an S8 was done which is probably the reason those two 8ks were filed so S8 shares can be issued and sold into the market.I'm gonna call OTC markets to discuss this and depending on my findings I'm going to make sure the SEC and FINRA know all about the phony press releases that never get executed and the fact this company has no business being a public business.They have utilized criminal funding tutes, no place of business,no product,no money,huge unpaid debt,lawsuits that they don't file a material event filing or 8k and of course they are delinquent in all filings but do issue shares.The SEC will be able to see if they are issuing S8 while not filing current.
GEIG's status with NVSOS is active.
http://nvsos.gov/SOSEntitySearch/CorpDetails.aspx?lx8nvq=x31IO%252bMjFE3ZAIVtY6UH%252fg%253d%253d
Ibox has been updated with current share structure, Zarvic acquisition and the Tanzania initiative.
It's all good. I had another play I chose to pursue heavily so I closed out a bunch of the losers I was hanging onto. Panned out pretty well for me.
I hear ya man, this waiting game is a pain in the a$$. Thanks, I'm sure this will work out.
Nope, I gave up and cashed out last week. Good luck
Did you get your .07's filled?
As mentioned there is prior convertible debt owed of about 1 million dollars give or take and at the very least one creditor litigating a law suit against the company and the good dr personally for defaulting on a loan contract in the Florida system.The company under the good dr has reverse split and then massive diluted to 0001 twice already.Great job.Now given the company has no marketable product,no office,no employee's and defaulted debt?The only leverage able source to pay down debt, pay off law suits or raise capital is the common stock causing massive dilution.But what kind of banker would invest good money with a ceo who has a track record like the good dr and all of the above facts?A dilution king maybe. Of course if the good dr was able to raise capital on top of those prior convertible notes outstanding and litigation?Obviously only three things will occur he will burn cash,get nothing accomplished and dilute another group of people.The question then remains,what happened to the money that was raised?
Didn't GEIG just do an RS in 2015? What do you mean by?:
"the major dilution that is coming"
Is there another RS on the way?
The good dr has many accomplishments and verifiable to.He's willfully destroyed share holder value over and over again,he's done great at being late on filings,not filing at all, diluting even now after the last reverse this thing went from 1 plus million out to 5 to now 10 plus million out,no sales to speak of,no real business address,no real employees and burned through over a million dollars and there's more of course
Looking toward the future there is a good amount of old debt almost 1 million dollars together with a law suit against the company and the good dr himself being litigated in the south Florida court.My question as anyone with a brain would ask,is how will the major dilution that is coming to settle old debt,the good dr's inability to get anything to market while spending almost what seems to be 2 million dollars retard the prospects of new money?
Cool clip of GEI in its infancy back in 2009
http://www.clipsyndicate.com/video/play/899429/sen_levin_updated_on_kettering_fuel_cell_program
Looking forward to the next filing. I imagine the small amount of information we have now is just scratching the surface of what is really happening with GEI. 10K is due late March, 10Q is due late May if the company decides to file.
Gonna be tough to get .07 filled now. Float is locked up. Good luck bam
There's a buy order in at 07 that's not showing if anyone wants to sell
What did he say he was going to accomplish?
I am not saying he is not smart, nor that his accomplishments are small. However, I met the man 3 years ago and listened to all
He had to say and was going to do. He has accomplished nothing and that is where GEI is headed.
I have viewed the filings, a unit needs to be built and shipped before a company can bill. There are also other cost other than manufacturing that need to be factored in as well like consulting fees, R&D, etc. Ultimately it comes down to trust, I can see why most don't trust Berry due to how the stock has preformed in the last couple years. The fact is only Berry knows how the funds were spent; however, based on his history of moving the needle forward all his life, raising funds and educating himself the way he has, I don't believe it was all to make a few bucks on the OTC. That would be a ridiculous way to waste an individual's life work. His bio shows he's smarter than that.
If you read through the filings the company raised a good amount of money over one million dollars,but only produced one unit for Texas.It looks like over one and a half million dollars were blown through,where did all that money go?The Texas company paid for the unit built so the money raised was not to build the unit,the company was evicted from it office and shop so rent wasn't paid.Where did all the money go?Something doesn't add up
Sitter? The man has accomplished more in his lifetime education wise than most. Raises the funds to put Kettering university on the map for fuel cell research and has brought an amazing fuel cell technology to market.
Granted dominovas is playing the OTC game much better than Berry but as you can see they are still falling victim to the same manipulation. Fortunately they found some solid partners that I'm sure have given them some guidance along the way.
There is no further affiliation as DNRG distanced themselves from the Doc shortly after. They are movers and shakers, he is a sitter
A quote you may find interesting.
"Dominican officials learned of GEI through GEI partner Las-Vegas-based Dominovas Energy, which promotes commercialization of fuel cell technology on a global scale".
http://www.mlive.com/business/mid-michigan/index.ssf/2011/08/dominican_republic_deal_in_wor.html
This article was from August 2011. Not sure if they still have the partnership intact. Two different types of fuel cell technologies SOFC and HTPEM. One is better suited for large scale power production the other is for smaller applications such as vehicles, small businesses and microgrids.
Dr. Berry received his Ph.D. in Mechanical Engineering in 1986 from Carnegie Mellon University (CMU) with a minor in Artificial Intelligence, his M.S. in Engineering Mechanics from Michigan State University (MSU) in 1981, and his B.S. in Mechanical Engineering from General Motors Institute (GMI) in 1979.
While attending GMI (1973-1979) Dr. Berry worked as a co-op Durability & Test Engineer for Detroit Diesel. Upon graduation and during his MSU graduate school studies, Dr. Berry worked in advanced product research to advance the state-of-the-art for diesel engine development and performance. In 1981 Dr. Berry enrolled in Carnegie Mellon University as a Ph.D. student in Mechanical Engineering and was employed as a research engineer in Analytical Mechanics for Westinghouse Research developing software for non-linear structural deformations.
Upon receiving a Ph.D. from CMU in 1986 in Mechanical Engineering and a minor in Artificial Intelligence, Dr. Berry was employed by Westinghouse Energy Systems developing advanced predictive nuclear equipment maintenance software employing expert systems databases.
In 1987 Dr. Berry accepted a position as an Assistant Professor of Mechanical Engineering at GMI (renamed Kettering University in 1998). Dr. Berry was promoted to Associated Professor in 1990 and to Professor in 1994. He was also promoted to Head of Mechanical Engineering in 1994. While Head of Mechanical Engineering, Dr. Berry has been very successful in recruiting industrial partners and developing state of the art laboratories. This success resulted in the development of premiere laboratories for research and teaching and contributed to the recruitment of top faculty researchers and expansion of Kettering University's activities for industrial consulting and applied product development.
Dr. Berry was appointed to the Eugene W. Kettering Chair of Power Engineering in 2002 for his leadership in developing state-of-the-art engineering laboratories, for his vision and foresight, and for developing one of the largest and strongest undergraduate mechanical engineering programs in the nation. Dr. Berry is currently spearheading the development of Kettering's Center for Fuel Cell Systems & Powertrain Integration (http://fuelcells.kettering.edu). The Center is supported by grants from federal and state governments, industry, and private foundations. Completed in 2005, the advanced research facility serves a broad based mission that includes education and public awareness, fuel cell systems integration and hybrid controls research, combined with a regional focus of economic development and commercialization.
In 2005 Dr. Berry received the Automation Alley Emerging Leader Award for his visionary efforts to position Flint and Michigan as a national leader for innovation in fuel cell research and for helping to spur economic development opportunities for mid-Michigan.
Dr. Berry has received advanced academic leadership and administrative training through the Harvard University Institutes for Higher Education, and is a registered professional engineer with the State of Michigan. His professional expertise includes fuel cell systems engineering, design simulation of inter-disciplinary systems, computational fluid dynamics, and advanced engineering software development.
http://www.kufuelcellcenter.info/history.html
Cool man, thanks
Market Cap Outstanding
655,020 10.92M
I compared the two because they are both fuel cell companies not because the CEO's are black first of all. Second there has been 2 splits under Berry however, the first was when suja minerals acquired GEI and their share structure needed to be adjusted due to poor management on suja's part not Berry. Last I heard GEI's share count was 5.1 mill not including the additional 500k for the zarvic acquisition. 5.6 mill total with a 1.2 float. Where do you get 10 million OS from??
If you knew anything about the company or the tech you would see that Berry and other GEI employees started this company from scratch. Constructed a new type of fuel cell (HTPEM with multiple input and output voltages that operate from 2-100kw). It takes a substantial amount of capital to do this. GEI has received grant funding from the army, air force, DOT, DOE and many other organizations to bring their product to market, and now its here. Lynntech purchased a gen 4 unit last year. The government of Tanzania would not work with a scam company to build a suite of 15MW to 45MW projects. Also Zarvic Brothers would not allow GEI to acquire them for 500k restricted shares (currently a $30,000 price tag) if Berry was a scam artist that is going to sink the company. Zarvic is getting on board because they have the ability to acquire real estate quickly at great prices. GEI will utilize this company to expand rapidly by purchasing retail/office space, manufacturing facilities and to assist with product deployment to commercial customers that zarvic has networked with.
All this info is out there, just gotta look for it. Its not hard to see the direction that this is going whether you choose to admit to it or not.
Please don't compare this failure to DNR.While both are run by African American CEO's?That is the only comparison that can be made at this juncture.The good Dr has shown he is a failure as CEO or something more sinister and DNR's story has yet to play out?The good Dr used over one million dollars and built one unit that nobody ever heard about again.Speaking of dollars raised by this CEO?It sure looks from the filings and subsequent events that the good Dr can raise money,but doesn't like to pay it back and he has not a care in the world for his investors because he dilutes at will and then reverses this stock.So he does have that dubious distinction of taking something of value twice and making it into a 0.0001 worthless trade.
There are now over 10 million shares out standing after a 2500 for 1 so he does take care of himself with worthless shares.There is still over one million dollars in old debt with law suits filed and other potential liabilities coming.Where did all the money go,surely not to build one unit?There are no corporate head quarters,no employee's,no filings,no money and no sales.But now the good Dr is a real estate mogul.You're right he's not a failure he's a scam artist
Dr. Berry is far from a complete failure. His list of accomplishments is more impressive than most in the OTC. The OTC is rigged against any company operating within it. Land mines are almost anywhere you step. He has made some significant miscalculations as do majority of the CEO's in OTC land. A high tech company bringing a new type of tech to the market cost money. Unfortunately one of the only options to get funding on the OTC is convertibles. It's an educated guess as to how a stock will preform when news is released without revenue. I'm sure he figured the debt converters were not going to be as aggressive as they were.
Look at DNR*. They have over a billion dollars in funding lined up for when their tech is market ready and they have a 3.6 million market cap. TPA* is another one that should be valued more than it currently is. The problem that I see with a lot of stocks on the OTC is they are to quick to show their hand. They are on Twitter and Facebook telling what they got coming up. Manipulator's see this and use the info against the company. They also have a high os count which makes it very difficult to increase the pps do to the level of short activity. I'm sure Berry see's this pattern and is keeping quite till revenue is realized to boost the pps and sustain it. This should be easier to do with a 5.5 mill os. Just my opinion
Not to shabby :) sold along time ago just pop in time to time. Hes a complete Failure he's not a scam artist just lack serious knowledge of running a business and way it looks refuses to let anyone help. I live in the area and know ppl who know him. He truly does great work but being a engineer and a business man in the same loop don't work.
"Not to shabby"?Well being you invested a while ago your goose has been cooked by the good dr and his multiple reverse split moves.The problem as i see it is he's not only screwed shareholders but there is a line of creditors as well that are owed money and have been lied to also.Now you have this ceo talking about getting into real estate?The sec should look into the finances of this company because the dilution train is gonna have to roll again and this ceo has blown through all kinds of money with zero results other then dilution.He's either a complete failure or scam artist.
No news with a low price per share isn't exciting, but it's better than news every week with a declining pps. Still no real dilution since summer of last year. Acquisition of Zarvic brothers for 500k restricted commons, talk of a $24 million 150k sqft manufacturing/R&D facility along with multiple MW projects lined up in Tanzania once a solar partner is found. All this with a 1.2 mill float and a 300k market cap. If any of these catalyst come to fruition little GEI is going to the moon!
I hear ya, I'm gonna be here till this blows up. Should have some revenue on the next filing with the Zarvic brothers acquisition.
Ehhh not to shabby learning as I go still lol
Yup, Patience is what it takes to make money in the otc. Unless you got the skills to flip, which i don't. How's things on your side?
Almost 2 years still waiting lol.
Potentially, since Wiggins is waiting on land approval he is roughly a third of the way through the process which shows promise. However, I agree anything can happen.
Thought951
The Not in good standing could be trouble.
Echo20
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OTC Pink (GEIG)
www.geiglobal.com
GEI Global Energy Corp.engages in the development of fuel cell based auxiliary power systems. The company’s power systems provide electricity to power various applications, including buildings, automobiles, emergency back-up systems, laptop computers, consumer devices, commercial trucking, telecommunications, marine, data security, and military. GEI Global Energy Corp.is based in
Flint, Michigan
A team of researchers at Kettering University in Flint has developed a device, called a reformer, that converts gasoline, diesel, natural gas, and other commonly available fuels into hydrogen — the lifeblood of fuel cells.
By tapping existing energy sources, the so-called GEI-X5 HTPEM Fuel Cell Electric Power Generator (X5) provides efficient, clean, and near-zero emissions; runs nearly silent; and alleviates the need to set up a costly hydrogen distribution system. In essence, the X5 allows for the commercialization of stationary or auxiliary fuel cells around the world.
The effort is in response to a bid from the U.S. Air Force and Applied Research Associates, which tasked Kettering University with developing an advanced fuel cell generator that produces 10 kilowatts of power by 2012. In recent months, K. Joel Berry, a professor and head of Kettering’s department of mechanical engineering, has reached the 10-kilowatt mark; he says he and his team of researchers and consultants are on pace to more than double the prototype’s energy output.
“Our internal goal is to develop a 50-kilowatt fuel cell generator,” Berry says. “We have no doubt that we can reach that mark.” Berry, founder and principal of Global Energy Innovations Inc. in Flint, is actively raising $1.5 million to complete a series of field tests before the device reaches consumer markets.
The X5 is projected to cost between $8,000 and $10,000 per unit once it reaches mass production. All of the components are guaranteed for five years, while the overall system will carry a 10-year warranty.
“We are working closely with the Air Force and Applied Research Associates, while at the same time we’re actively seeking partners to commercialize and market the new technology,” Berry says. “The biggest growth potential for the X5 is in developing countries that lack, or have a limited, electrical grid system.”
Other markets include existing homes, since the reformer can run on natural gas, as well as industries such as aerospace, municipal waste-to-power systems, emergency response, and telecommunications. “This is not a technology that will be introduced overnight, but the reformer boosts energy efficiency by 30 percent while producing near-zero emissions,” says Steve Hoffman, a former marketing executive at Detroit-based American Axle & Manufacturing Inc., who serves as vice president of operations at Global Energy Innovations.
The reformer, about the size of a large shoebox, is complemented by a lithium polymer battery storage system and a power electronics package that, together, provide a uniform source of energy to operate a hydrogen fuel cell. Since a fuel cell has no moving parts, the X5 creates very little noise; however, because the reformer throws off excessive heat, it requires plenty of insulation.
“By running virtually silent, the X5 is an improvement upon traditional generators,” Berry says. “You could drop a unit into a remote location, say in Afghanistan, and the troops would have power to operate air conditioners, computers, lights, and equipment.”
The X5 can also be modified to propel vehicles, adding to its potential uses. In recent years, the Department of Defense has accelerated its use of renewable energy. As the wars in Iraq and Afghanistan have shown, insurgents are increasingly attacking American fuel supply convoys. At the same time, more efficient fuel systems are needed as battle vehicles are outfitted with heavier armor.
Because fossil fuel is the U.S. military’s largest import to Afghanistan, Navy Secretary Ray Mabus says he wants 50 percent of the power for the Navy and Marines to come from renewable energy sources by 2020. Meanwhile, the Army buys 50,000 auxiliary power units each year.
The X5 can process military fuel, known as JP8. It also can run on methanol, ethanol, synthetic, and bio-renewable fuels. “The failure rate is very small, so once we get it on the market, the X5 will have a life span of 18,000 to 20,000 hours,” Berry explained during a recent tour of Kettering’s Center for Fuel Cell Systems and Powertrain Integration. Founded in 1926 as the General Motors Institute, Kettering University (renamed in 1999 to honor famed GM engineer and inventor Charles “Boss” Kettering) graduates more than 500 engineers annually. The university also works with more than 700 companies, including the Big Three automakers, Delphi, United Technologies, the U.S. Army Tank-Automotive and Armaments Command (TACOM), Bosch, Johnson Controls, and Sun Microsystems.
“Our goal is keep as much of the research, development, and production in Michigan,” Berry says. “We have the world’s only scalable and multifuel reforming system. We want to create as many jobs here as possible.”
Dr. Berry, honored as Flint, Michigan's fuel cell father(1), has been Professor of Mechanical Engineering for over 26 years at Kettering University, and served as the former Head of Mechanical Engineering for 17 years. With over 1200 students mechanical engineering is ranked as one of the largest undergraduate programs in the country, and has been constantly ranked in the top 5 by U.S. News and World Report.
Dr. Berry, honored as an ASME (American Society of Mechanical Engineers) Fellow, also spearheaded, conceived, and raised over $10 million in funding for Kettering's Center for Fuel Cell Systems Engineering's (www.kufuelcellcenter.info) research initiatives. Recognizing the lack of an infrastructure for the storage and distribution of hydrogen as a "fuel," as required for traditional fuel cells, as being a major barrier to global fuel cell commercialization, Dr. Berry's vision was a more robust fuel cell power plant system to leverage the existing global logistic fuel infrastructure such as abundant and inexpensive natural gas. The result being the GEI X5 as a novel and revolutionary hybrid fuel cell power systems architecture. Dr. Berry who has invested 2 million into GEI through personal money and grants, hopes someday to create hundreds of local jobs.
(A few key notes from the 8K)
1.01 Entry or Termination of a Material Definitive Agreement
On July 31, 2014, GEI Global Energy Corp, a Nevada corporation (the “Company”) entered into a Senior Secured Revolving Facility Agreement (the “Credit Agreement”) with TCA Global Credit Master Fund, LP,
as lender (the :Lender”).
The Credit Agreement provides for a revolving credit facility (the “Credit Facility”) of up to $5,000,000. Funds under the Credit Facility will be made available to the Company on an as-needed basis, based on a
mutually approved formula of eligible receivables and assets with an initial draw down at closing of $200,000 less transaction expenses. The net expenses were $109,000 with $80,000 allocated to immediately resolving corporate debt. The Company also incurred legal fees of $5,000.
The Company intends to use the proceeds of the Credit Facility for execution of the Company’s business plan for global commercialization and in the pursuit of the following business revenue generation models
as outlined in our 2012 business plan:
1. Manufacturing and selling of fuel cell electrical power generation systems.
2. License of core technology for third party integration. Fore examle, licensing of hydrogen extraction technology or system controls technology for integration with third party fuel cell stack technology.
3. License of fuel cell power system for third party private label manufacturing for specific application.
4. License of fuel cell power systems technology for third party power purchase agreement (PPA) and revenue sharing.
FLINT, Mich., Jul 09, 2014 (BUSINESS WIRE) -- GEI Global Energy Corp. GEIG, a fuel cell electric power generation company, announced the JV partnership execution with the Italian firm Associazione Italiana
per lo Sviluppo Economico (AISVEC) to leverage the expanding global natural gas supply infrastructure to deploy its fuel efficient electric power generation devices within Italy and Europe.
Associazione Italiana per lo Sviluppo Economico (AISVEC) (Italian Association for Economic Development)
http://www.aisvec.eu/indexen.html
"3000 public authorities and private companies connected to AISVEC"
"To this end, AISVEC is negotiating with governmental authorities in Central and Eastern Europe with regards to fuel supply, power requirements, and economic development"
A pilot plant and technology showcase will launch in October 2014 providing over 6,000 kW-hr per month of combined heat and power (CHP) to a small municipality in Northern Italy. The partnership will focus on
clean, efficient and environmentally friendly electric power systems within public owned buildings, shopping malls, commercial real estate, and industries.
Shares Outstanding | 10,917,012 | a/o February 3, 2016 |
Float | 1,135,770 | a/o August 21, 2015 |
Authorized Shares | 1,000,000,000 | a/o August 21, 2015 |
Par Value | 0.0001 |
A 1 for 2500 Reverse Split took place on March 20, 2015.
GEI X5 has a strategic advantage in terms of systems integration and a robust design methodology. The design methodology has improved overall product quality. The X5 has a significant advantage over
other fuel cell systems through the use of HTPEM fuel cell stacks which increase power density by 25% due to more efficient flow distribution and thermal management. This also results in a higher tolerance
for impurities such as CO and sulfur in the fuel source while providing the capability to use logistically inexpensive fuels such as low sulfur diesel, propane, methanol, ethanol, and bio-diesel fuels.
Due to the varied application of the GEI fuel cell systems, the Company faces competition from a number of companies. However, many of them do not currently pose a significant threat due to the technological advantage the Company has over them.
Plug Power Systems : Low temperature fuel cell operate on pure hydrogen designed for fork lift trucks. They are not a direct competitor to GEI due to its limited market segment, its low temperature
technology and limited scope for expansion.
Clear Edge Power : California based high temperature 5kW fuel cells operating on natural gas and focused on residential customers. Applications are limited by its inability to meet power demand spikes created by every day household appliances. GEI possesses competitive advantages due to greater perceived system flexibility.
Nordic Power Systems : European based high temperature 1kW fuel cells operating on low sulfur diesel fuel. Nordic has lower operating efficiencies and low volume production compared to GEIG.
UltraCell Power : Portable high temperature 25kW fuel cells operating on reformed methanol. UltraCell Power target market and large cell size is a significant barrier.
Bloom Energy : We believe Bloom could be a serious competitor in the large stationary and base load stationary markets. However GEIG fuel cell systems operate at a much lower temperature compared
to Bloom’s core fuel cell which operate at 800C and are less responsive to spike in operating loads. Further their current manufacturing process is expensive.
ZARVIC BROTHER'S ACQUISITION
Item1.01 Entry into a Material Definitive Agreement
1. | The GEIG Board approved the execution of a definitive agreement to acquire, through a stock equity exchange, Zarvic Brothers, LLC. of New York. The purchase will enhance financial opportunities for GEI Global and integrates with a strategy to provide high-impact real estate and technology merger acquisition transactions throughout the United States and the world. The acquisition adds to our overall brand and represents an important strategic opportunity to focus our business model and to acquire assets for product deployment. By purchasing Zarvic Brothers, GEI Global will be able to expand our business and product offerings to a larger commercial real estate customer base throughout the world. | |
2. | GEIG will form new private subsidiary to execute agreement. | |
3. | GEIG will desire to move private vehicle toward public vehicle status in 12 months. Although there may be several unforeseen factors that may influence this objective. | |
4. | GEIG will issue 500,000 shares of restricted GEIG common stock $0.001 par to execute agreement. | |
5. | Agreement execution is effective upon legal review. |
Zarvic Brothers is a privately-held, New York based company, that specializes in the acquisition and disposition of value added commercial real estate, leasing, and merger acquisitions of private and public companies.
FLINT, MI -- (Marketwired) -- 12/07/15 -- GEI Global Energy Corp. (OTCBB: GEIG), after 18 months of development with our world-wide partners, GEI GLOBAL will "light-up" Tanzania and seeks a partnership
with an established international Solar Power company for a suite of 15MW-45MW projects with the Government of Tanzania resulting in guaranteed and long term revenues.
Working collaboratively with the Tanzania Rural Energy Corporation, Transcend Enterprises Limited, and the non-profit organization known as the Africa Community Advancement Initiative(http://www.acainitiative.org),
GEI Global Energy Corp. seeks a global minded solar energy partner to provide one component of a large bold initiative that will resolve a primary challenge that has restricted access to affordable plentiful energy
for decades. As a merger of technologies, the 360° Energy Deployment and Economic Development solution presented by the Tanzania Rural Energy Corporation (TREC) and its partners herein have solved the primary set of constraints to improving the economic viability for a people, and provides a strategy to ensure a sustainable energy solution from one generation to the next.
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