Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I kept warning them over on HSM but they were too far gone on the Kool-Aid for it to do any good.
And who would of thought that was the case with GETC....LMAO, I smelled this 500 miles away and now deserve apologies from the boys who said I was full of it..!
SEC Charges Geotec, Inc. and Three Individuals in Connection with False Filings and Accounting Improprieties
Litigation Release No. 21116 / July 2, 2009
SEC v. Geotec, Inc. a/k/a Geotec Thermal Generators, Inc., Bradley T. Ray, William Richard Lueck, and Stephen D. Chanslor, Case No. 09-80986 CIV-COHN (S.D. Fla.) (July 2, 2009)
SEC Charges Geotec, Inc. and Three Individuals in Connection with False Filings and Accounting Improprieties
The United States Securities and Exchange Commission announced today that it filed a complaint against Geotec, Inc. a/k/a Geotec Thermal Generators, Inc., its former CEO William Richard Lueck, its current CEO Bradley T. Ray and current CFO Stephen D. Chanslor in the United States District Court for the Southern District of Florida charging them with fraud and reporting, books and records, and internal controls violations arising from two distinct securities schemes.
The SEC's complaint alleges that in the first scheme, Lueck directed Geotec to issue 100,000 shares of company stock to a purported stock promoter. The complaint alleges that Geotec and Lueck falsely stated in an April 2005 SEC filing that the stock was issued to a company employee.
The SEC's complaint further alleges that in a second scheme, Geotec, Lueck, Ray and Chanslor made false statements in one or more Geotec 2005 SEC filings concerning the company's acquisition of millions of tons of coal. Specifically, the complaint alleges that Geotec falsely stated that another company had obtained a permit for the coal Geotec acquired and failed to disclose that the coal was under a state receivership. The complaint also alleges that Geotec improperly reported the coal as inventory valued at $18.9 million, improperly reported $4.6 million in revenue from a sale of a portion of the coal, and failed to have its quarterly reports filed with the SEC reviewed by an independent accountant.
The SEC's complaint charges Geotec with violating Sections 10(b), 13(a), 13(b)(2)(A) and 13(b)(2)(B) of the Securities Exchange Act of 1934 ("Exchange Act") and Rules 10b-5, 12b-11, 12b-20, 13a-1, 13a-11 and 13a-13 thereunder, and charges Lueck, Ray and Chanslor with violating Sections 10(b) and 13(b)(5) of the Exchange Act and Rules 10b-5, 13b2-1 and 13a-14 thereunder.
The complaint further charges Lueck, Ray and Chanslor with aiding and abetting Geotec's violations of Sections 13(a), 13(b)(2)(A) and 13(b)(2)(B) of the Exchange Act and Rule 12b-20 thereunder. Additionally, the complaint charges Lueck with aiding and abetting Geotec's violations of Rules 13a-1 and 13a-11 of the Exchange Act; Ray with aiding and abetting Geotec's violations of Rules 13a-1 and 13a-13 of the Exchange Act; and Chanslor with aiding and abetting Geotec's violations of Rule 13a-13 of the Exchange Act.
The Commission seeks permanent injunctive relief against all defendants, and the imposition of civil money penalties and an officer and director bar against Lueck, Ray and Chanslor.
SEC Complaint
http://sec.gov/litigation/complaints/2009/comp21116.pdf
http://www.sec.gov/litigation/litreleases/2009/lr21116.htm
Volume sure picking up the last couple trading days. I don't remember seeing this much volume in two days back to back since the last run up to .56 cents
Well we got the extention passed with the Stimulus bill....now we wait for the IRS guidance or perhaps some law firm to interpret this mess.
I've found one that got it correct: http://www.rathlaw.com/assets/attachments/75.pdf
Maybe it's time for one of us to drop in at Delray Beach.
Any chance one of you lives in the area?
2007 10Q out yesterday...... one more filing done.....7 more due by March 2009 to be current..... we're cook-in here. Better than a sharp stick in the eye, I guess.
This is probably a good time to start reloading........If the production starts this spring I.e. March/April then the production of the clean coal machines would need to begin about now! JMHO
You guys still feeling rich? Hoping you all sold enough shares to at least recoup your initial investments... Maybe another round of promotion will come? Time to reload yet?
Looks like news may be forth coming with the volume now picking up once again. I expect or hope the bombardment of news to start rolling in over the next days and weeks ahead. It's been a long wait but should be worth it!
am obviously catching up on coal news and must say it is getting interesting to say the least, and if we the 'sheople' are being duped then it wouldn't be the first time lol...
‘Reality’ Coalition Launches Campaign Debunking ‘Clean Coal’ Myth http://news.yahoo.com/s/usnw/20081204/pl_usnw/___reality____coalition_launches_campaign_debunking____clean_coal____myth
U.N. Puts Greenhouse-Free Clean Coal on the Back Burner http://www.popularmechanics.com/science/earth/4295621.html
ACCCE Launches New Advertising in Support of President-Elect Obama's Commitment to Clean Coal
http://www.marketwatch.com/news/story/ACCCE-Launches-New-Advertising-Support/story.aspx?guid=8878982A-4E0A-488A-8A99-E18938BB1F96
There is over $6 billion in clean coal research projects underway right now in 41 states (see map with scroll bar listing details for pa) http://www.americaspower.org/The-Facts/Clean-Coal-Technology
not sure how all of this played out or if it is even relevant to getc but could be accounting firm is still busy resolving other aspects (if not already resolved), which concerned pcaob board's inspection report filed back in 07 (don't have links but info was found on line).. reports didn't give all details but "think" i remember seeing one that listed discrepancies with filings for several companies, so maybe getc was one of them and this in part may be reason for delay b/c no way it takes this long for an accounting firm to get company current, and they best be coming soon b/c this is moving beyond insane!!
Nothing like waiting until the last minute........
From the last filing in Sept: " Geotec, Inc. continues to engage Brimmer, Burek and Keelan, LLP, to complete the Securities and Exchange Commission filings with a view to becoming current by the end of 2008."
And I'm hearing this is still the plan......7 weeks left to get three 2007 Q's out then the 2007 10K.... and then the three 2008 Q's..... I guess anything is possible???????
We'll see......
boy the time has sure come to pass when these guys said they were going to get the filings all out and updated...
turns out there have been many shows and here is link for last 3 shows from pa coal conference http://whyy.org/blogs/healthscience/... want to listen to all of them but one i caught covered process involved.... seems to be some controversy from environmental issues, big financial investment etc, and they say it is about 10 years away...
Please post whatever you hear.
heads up for any interested - heard a blurb on whyy radio in pa today stating there will be a show tomorrow about clean coal players in this area so will be interesting to hear if getc is among those that are talked about.
adding - just did a quick search and can't find schedule but here is link to radio shows that were on today so imagine they will update for tomorrow http://www.whyy.org/91FM/
Here's some new DD!!!!!!!!!!
DELRAY BEACH, FL, Sep 15, 2008 (MARKET WIRE via COMTEX) -- Geotec, Inc.
(PINKSHEETS: GETC) announced today that it has filed patent applications with
the United States Patent Office. Acknowledgment, as patent pending, has been
received by the USPO for "Methods of refining hydrocarbons fuels and
post-combustion production by enzyme and protein reactions." (Application number
61/132,397)
The patent applications included the protein and enzyme processing, cleaning and
purification of pre-combustion solid, liquid, and gas hydrocarbons. The patent
application also included the lowering of metals, mercury, sulfur and other
hydrocarbon contaminants that will decrease the air emissions of Nitrogen Oxides
(NOx), Carbon Dioxide (CO2) and Sulfur Dioxides (SO2) and fine particles. These
patents describe the bio-refining process for bio-diesel/jet fuel and marine
bio-diesel.
The Geotec intellectual property and enzyme/protein patents cover several
cellulosic enzymes to convert waste farm products (corn stalks/cobs, rice husks,
etc.) to ethanol/methanol for inclusion in "GeoRich Bio-Fuels." The "GeoRich"
family of bio-friendly fuels will be used to operate the company's mining,
bio-refining facilities and product delivery with bio-diesel/jet fuel and marine
bio-diesel.
The transesterification of ethanol into bio-fuels and bio-crude, environmental
remediation, preliminary stages of carbon sequestration (pre-combustion) and its
process to decontaminate gases containing impurities are part of the patent
application.
The protein/enzyme chemical sequestration and control of carbon dioxide, sulfur
dioxides, nitrogen oxides, metals, and other contaminates from the
post-combustion of solid, liquid and gas forms of hydrocarbons are part of the
patent applications.
About Geotec, Inc.
Geotec, Inc. (PINKSHEETS: GETC) is a Green Energy Technology Company with
operations in the United States and Argentina. It utilizes proteins and enzyme
technology to chemically convert hydrocarbons to commercially produce
higher-valued hydrocarbons including coal, and other solid, liquid and gas. The
technologies are used on hydrocarbons, such as coal or oil, to reduce heavy
metals and other contaminants such as sulfur, arsenic and mercury. It can
correct pollution (post-combustion) in the air (carbon dioxide) and water. In
addition, the Company owns process technologies that can remediate
hydrocarbon-contaminated soils. The Company's assets in Argentina are comprised
of the mineral rights in seven Asphaltite (high-volatile hydrocarbon material)
mines.
Safe Harbor
Statements in this release, which relate to other than strictly historical
facts, including statements about the Company's plans and strategies, as well as
management's expectations about new and existing products and services,
technologies and opportunities, market growth, demand for new and existing
products and services, are forward-looking statements. The words "believe,"
"expect," "anticipate," "estimate," "project," "intend" and similar expression
identify forward-looking statements that can speak only as of the date hereof.
This press release contains certain forward-looking statements regarding Geotec,
its business prospects and results of operations that are subject to certain
risks and uncertainties posed by many factors and events that could cause
Geotec's actual business, prospects and results of operations to differ
materially from those that may be anticipated by such forward-looking
statements. The Company assumes no obligation to notify of any changes, other
than material events as required by the Securities and Exchange Commission.
Readers are urged to carefully review and consider the various disclosures made
by Geotec in this new release and other reports filed with the Securities and
Exchange Commission that attempt to advise interested parties of the risks and
factors that may affect Geotec's business.
Contact:
Point Communications Group
Richard Kaneb
(888)-429-6210
http://www.geo-tec.net
SOURCE: Geotec, Inc.
CONTACT: http://www.geo-tec.net
Anyone Home?
It's all buried in these filings...
Windmills are nice.
So are solar panels.
But the real answer lies in really clean coal.
And the trick is to clean it before it gets burnt... not to use expen$ive scrubbers afterwards.
Guess who has this technology? Yup... right here.
Can it be commercialized? Yup.
Can it be upscaled? Yup.
Is it profitable? And how!
Can anyone else do this? No way.
p.s., these guys can liquify the stuff... gassify the stuff... and produce the stuff in quantities large enough to put opec out of their blackmailing ways.
He who finds this message is encouraged to do some dd. It just might be the most rewarding research you've ever done.
Geotec, Inc. Resumes Filings With the Securities and Exchange Commission
DELRAY BEACH, FL, Sep 12, 2008 (MARKET WIRE via COMTEX) -- Geotec, Inc.
(PINKSHEETS: GETC) confirmed today that it has filed with the Securities and
Exchange Commission its annual report on Form 10-K for the period ending
December 31, 2006. The Company also confirmed its commitment to continue using
its best efforts to file all periodic reports in compliance with the SEC by the
end of 2008.
Geotec, Inc. continues to engage Brimmer, Burek and Keelan, LLP, to complete the
Securities and Exchange Commission filings with a view to becoming current by
the end of 2008.
Geotec is a Green Energy Technology Company with operations in the United States
and Argentina utilizing proteins and enzyme technology to chemically convert
hydrocarbons to commercially higher value coal and fuel oils. The technologies
are also used to purify hydrocarbons, such as coal or oil, of heavy metals and
other contaminants such as sulfur, arsenic and mercury to prevent or correct
pollution in the air, water or soils. In addition, hydrocarbon contaminated
soils can be re-vegetated and re-forested after treatment with Geotec's
proprietary protein/enzyme technology.
Statements in this release, which relate to other than strictly historical
facts, including statements about the Company's plans and strategies, as well as
management's expectations about new and existing products and services,
technologies and opportunities, market growth, demand for new and existing
products and services, are forward-looking statements. The words "believe,"
"expect," "anticipate," "estimate," "project," "intend" and similar expression
identify forward-looking statements that can speak only as of the date hereof.
This press release contains certain forward-looking statements regarding Geotec,
its business prospects and results of operations that are subject to certain
risks and uncertainties posed by many factors and events that could cause
Geotec's actual business, prospects and results of operations to differ
materially from those that may be anticipated by such forward-looking
statements. The Company assumes to obligation to notify of any changes, other
than material events as required by the Securities and Exchange Commission.
Readers are urged to carefully review and consider the various disclosures made
by Geotec in this new release and other reports filed with the Securities and
Exchange Commission that attempt to advise interested parties of the risks and
factors that may affect Geotec's business.
Contact:
Point Communications Group
Richard Kaneb
(888)-429-6210
http://www.geo-tec.net
SOURCE: Geotec, Inc.
CONTACT: http://www.geo-tec.net
Copyright 2008 Market Wire, All rights reserved.
SUBJECT CODE: Energy and Utilities:Oil and Gas
good to see your update b/c that invite seemed like someone was maybe trying set up another cshd lol.... can say, i do agree with a few about the o/s increase as being a sign of dilution and is something i have been keeping an eye on since significant a/s increase....way too easy to do this, and especially when they are not required to report anything to sec.. although - reporting doesn't seem to make much of a difference either with most of these penny companies, so who knows and as has already been said >> "time will tell"....
JMO but Bradley would never agree to that invitation for several reasons. One being management owning 90% of the shares and he's not in the stock pumping business for the traders and flippers. He'll come out with news when the time is right. I agree with you Fireopal......that would be a mistake.
dropping a post in here b/c was checking on a couple of stocks and saw a post on another forum about brining someone from company on board.. so fwtiw - REALLY hope i NEVER see that from this company b/c that to me will say what it has said about every other company that has done that one... so here is hoping they all have better things to do with their time!!
Charts seem to have this moving up so news Monday or Tuesday would sure give us a boost!
http://investorshub.advfn.com/boards/read_msg.asp?message_id=27854950
News, filings, updates sure would be nice about now. It's been quiet for 6 weeks and I would think we should hear something within the next few days..............
If Chris is right and filings/news restart this week, many newcomers may discover this board.
What you've found is an unrecognized wealth of technology that may soon change the energy story both in this country and abroad.
Combine this new science with a management team capable of ramping its acceptance on a massive scale and the opportunity becomes truly breathtaking.
This is no typical pinkie... as you're about to see.
All IMO, of course.
Well its been a month and no patent pending app to be found yet..but maybe just maybe next week we'll get some news and be off and running again. Nice close at .51 today....good news next week and high volume maybe we'll see .60's.....
Geotec, Inc. Completes Initial Patenting Documentation
DELRAY BEACH, FL, Jun 18, 2008 (MARKET WIRE via COMTEX) -- Geotec, Inc.
(PINKSHEETS: GETC) announced today that it has compiled and prepared the
documentation to file its initial patent applications. Drinker Biddle & Reath
LLP of Berwyn, Pennsylvania has been engaged to file Geotec's patents in the
United States and Worldwide.
The patent applications will include the protein and enzyme processing, cleaning
and purification of pre-combustion solid, liquid and gas hydrocarbons. Parts of
the patent application will include the lowering of metals, mercury, sulfur and
other hydrocarbon contaminants that will decrease the air emissions of Nitrogen
Oxides (NOx), Carbon Dioxide (CO2) and Sulfur Dioxides (SO2) and fine particles.
These patents will describe the process for the production for bio-diesel/jet
fuel and marine bio-diesel in a bio-refining program. Geotec's enzyme/protein
patents will cover the transesterification of ethanol into bio-fuels and
bio-crude, environmental remediation, preliminary stages of carbon sequestration
and its process to decontaminate gases containing impurities.
These patents will enable Geotec to develop its "GeoRich" family of bio-friendly
fuels. The patents will cover its own fuels to operate its mining, bio-refining
facilities and ground and marine shipment of "GeoRich Fuels."
The sequestration of carbon dioxide, sulfur dioxides, nitrogen oxides and other
contaminates from the post-combustion of hydrocarbons will also be disclosed.
About Geotec, Inc.
Geotec, Inc. (PINKSHEETS: GETC) is a Green Energy Technology Company with
operations in the United States and Argentina. It utilizes proteins and enzyme
technology to chemically convert hydrocarbons to commercially produce
higher-value coal. The technologies are used on hydrocarbons, such as coal or
oil, to reduce heavy metals and other contaminants such as sulfur, arsenic and
mercury. It can correct pollution in the air, water or soils. In addition, the
Company owns process technologies that can remediate hydrocarbon-contaminated
soils. The Company's assets in Argentina are comprised of the mineral rights in
seven Asphaltite (high-volatile hydrocarbon material) mines.
Safe Harbor
Statements in this release, which relate to other than strictly historical
facts, including statements about the Company's plans and strategies, as well as
management's expectations about new and existing products and services,
technologies and opportunities, market growth, demand for new and existing
products and services, are forward-looking statements. The words "believe,"
"expect," "anticipate," "estimate," "project," "intend" and similar expression
identify forward-looking statements that can speak only as of the date hereof.
This press release contains certain forward-looking statements regarding Geotec,
its business prospects and results of operations that are subject to certain
risks and uncertainties posed by many factors and events that could cause
Geotec's actual business, prospects and results of operations to differ
materially from those that may be anticipated by such forward-looking
statements. The Company assumes no obligation to notify of any changes, other
than material events as required by the Securities and Exchange Commission.
Readers are urged to carefully review and consider the various disclosures made
by Geotec in this new release and other reports filed with the Securities and
Exchange Commission that attempt to advise interested parties of the risks and
factors that may affect Geotec's business.
Contact:
Point Communications Group
Richard Kaneb
(888)-429-6210
http://www.geo-tec.net
SOURCE: Geotec, Inc.
CONTACT: http://www.geo-tec.net
Copyright 2008 Market Wire, All rights reserved.
SUBJECT CODE: Environment:Regulations and Law
Energy and Utilities:Oil and Gas
More news today! Looks like Bradley is clearing the way for the teleconference Thursday!
DELRAY BEACH, FL, Jun 17, 2008 (MARKET WIRE via COMTEX) -- Geotec, Inc.
(PINKSHEETS: GETC) announced today that it has contracted to open a new 2100
square foot laboratory in Delray Beach, Florida for facilitating the anticipated
commercialization of Geotec's bio-refining processes.
The laboratory will be utilized to support the agreements with TTI Technologies
Inc., StoneGate Partners, and GreenCoal, LLC. The laboratory will produce
proteins and enzymes, as well as testing and quality control of hydrocarbons.
This will facilitate the acquisition of coal sites and initiation of the
bio-refining process for the sale of coal hydrocarbons in the United States.
The Geotec laboratory will also be involved in the technology design, operation
and certification of the hydrocarbon bio-refinery facilities involved in tax
credits under Section 45 of the Internal Revenue Code.
The laboratory will be used to process Asphaltite (from Geotec's Argentine
mines) for bio-diesel/jet fuel and marine bio-diesel in a bio-refining program.
Geotec's enzyme/protein systems will be used in the transesterification of
ethanol into bio-fuels and bio-crude, environmental remediation, preliminary
stages of carbon sequestration and its process to decontaminate gases containing
impurities.
This laboratory will help Geotec develop its "GeoRich" family of bio-friendly
fuels. With the laboratory research, Geotec believes that it will have a
competitive advantage by utilizing its own feedstock fuels to operate its
mining, bio-refining facilities and ground and marine shipment of "GeoRich
Fuels."
About Geotec, Inc.
Geotec, Inc. (PINKSHEETS: GETC) is a Green Energy Technology Company with
operations in the United States and Argentina. It utilizes proteins and enzyme
technology to chemically convert hydrocarbons to commercially produce
higher-value coal. The technologies are used on hydrocarbons, such as coal or
oil, to reduce heavy metals and other contaminants such as sulfur, arsenic and
mercury. It can correct pollution in the air, water or soils. In addition, the
Company owns process technologies that can remediate hydrocarbon-contaminated
soils. The Company's assets in Argentina are comprised of the mineral rights in
seven Asphaltite (high-volatile hydrocarbon material) mines.
Safe Harbor
Statements in this release, which relate to other than strictly historical
facts, including statements about the Company's plans and strategies, as well as
management's expectations about new and existing products and services,
technologies and opportunities, market growth, demand for new and existing
products and services, are forward-looking statements. The words "believe,"
"expect," "anticipate," "estimate," "project," "intend" and similar expression
identify forward-looking statements that can speak only as of the date hereof.
This press release contains certain forward-looking statements regarding Geotec,
its business prospects and results of operations that are subject to certain
risks and uncertainties posed by many factors and events that could cause
Geotec's actual business, prospects and results of operations to differ
materially from those that may be anticipated by such forward-looking
statements. The Company assumes no obligation to notify of any changes, other
than material events as required by the Securities and Exchange Commission.
Readers are urged to carefully review and consider the various disclosures made
by Geotec in this new release and other reports filed with the Securities and
Exchange Commission that attempt to advise interested parties of the risks and
factors that may affect Geotec's business.
Contact:
Point Communications Group
Richard Kaneb
(888)-429-6210
http://www.geo-tec.net
Geotec, Inc. to Host Educational Conference Call June 19th
DELRAY BEACH, FL, Jun 16, 2008 (MARKET WIRE via COMTEX) -- Geotec, Inc. (PINKSHEETS: GETC) announced today that it will hold an educational conference on Thursday, June 19, 2008 from 2-3:00 PM for shareholders and other interested parties. Two shareholders have requested an introductory meeting to discuss technology. Therefore, Geotec, Inc. invites all shareholders to attend the meeting at Geotec's headquarters or teleconference into the number provided below. The educational call will focus upon Geotec's proprietary technology to convert lower value hydrocarbon feedstocks to cleaner and higher value commercial products and, in the process, produce remediated byproducts.
Bradley T. Ray, Chairman and Chief Executive Officer of Geotec, will host the call and be accompanied by Bill Richardson, Chief Technical Officer of Geotec.
Mr. Richardson will give an overview of Geotec's technology, its present state of implementation as well as an update on Geotec's additional initiatives, including but not limited to, the status of its asphaltite to diesel fuel bio-refining program, transesterification of ethanol into bio-fuels and bio-crude, environmental remediation, preliminary stages of carbon sequestration and its process to decontaminate gasses containing impurities.
During the presentation technology-related questions can be emailed to btu@geo-tec.net and will be answered in the order that they are received. The conference call can be accessed by dialing a direct toll access number at (978)964-0049. The participant pass code to access the call is 808355#.
About Geotec, Inc.
Geotec, Inc. (PINKSHEETS: GETC) is a Green Energy Technology Company. Geotec has operations in the United States and Argentina and utilizes proteins and enzyme technology to chemically convert hydrocarbons to commercially higher-value coal. The technologies are also used to purify hydrocarbons, such as coal or oil, of heavy metals and other contaminants such as sulfur, arsenic and mercury to prevent or correct pollution in the air, water or soils. In addition, the Company owns process technologies that can remediate hydrocarbon-contaminated soils. The Company's assets in Argentina are comprised of the mineral rights in seven Asphaltite (high-volatile hydrocarbon material) mines.
Safe Harbor
Statements in this release, which relate to other than strictly historical facts, including statements about the Company's plans and strategies, as well as management's expectations about new and existing products and services, technologies and opportunities, market growth, demand for new and existing products and services, are forward-looking statements. The words "believe," "expect," "anticipate," "estimate," "project," "intend" and similar expression identify forward-looking statements that can speak only as of the date hereof. This press release contains certain forward-looking statements regarding Geotec, its business prospects and results of operations that are subject to certain risks and uncertainties posed by many factors and events that could cause Geotec's actual business, prospects and results of operations to differ materially from those that may be anticipated by such forward-looking statements. The Company assumes no obligation to notify of any changes, other than material events as required by the Securities and Exchange Commission. Readers are urged to carefully review and consider the various disclosures made by Geotec in this new release and other reports filed with the Securities and Exchange Commission that attempt to advise interested parties of the risks and factors that may affect Geotec's business.
Contact:
Point Communications Group
Richard Kaneb
(888)-429-6210
http://www.geo-tec.net
SOURCE: Geotec Inc.
CONTACT: http://www.geo-tec.net
Copyright 2008 Market Wire, All rights reserved.
SUBJECT CODE: Energy and Utilities:Oil and Gas
Someday... probably in the next month or two, investors will realize what we've got here.
A quote from the 6/11/08 announcement:
"Mr. Ray concluded: "Locating substantial resources such as those available through GreenCoal is another step in the development and commercialization of the Geotec technologies and processes. First, we needed to prove our proprietary enzyme/protein technology, which was independently tested; then, we needed to show the feasibility of scaling up to commercial levels, which we are doing with TTI Technologies, Inc. We recently announced an investment banking agreement with StoneGate Partners, LLC for the potential financing of our projects; and now we are locating sites, such as those to be identified by GreenCoal, for the recovery of saleable coal from gob, culm, lignite or other lower-grade or dirty coals or carbon fly ash."
"Locating substantial resources such as those available through GreenCoal is another step in the development and exploitation of the Geotec technologies and processes." -- Bradley T. Ray, CEO
About Geotec, Inc.
Geotec, Inc. (PINKSHEETS: GETC) is a Green Energy Technology Company. Geotec has operations in the United States and Argentina and utilizes proteins and enzyme technology to chemically convert hydrocarbons to commercially higher-value coal. The technologies are also used to purify hydrocarbons, such as coal or oil, of heavy metals and other contaminants such as sulfur, arsenic and mercury to prevent or correct pollution in the air, water or soils. In addition, the Company owns process technologies that can remediate hydrocarbon-contaminated soils. The Company's assets in Argentina are comprised of the mineral rights in seven Asphaltite (high-volatile hydrocarbon material) mines."
Well, its been quite some time since my trip to the TTI Birmingham sites and I thought they would be up and running by this time. Hopefully, we'll get an update and see this thread with more than 24 bookmarks in the coming weeks.
Until then it's "Off to work I go"
Remember the old saying, "Garbage in, Garbage out!"?
Wouldn't the same be true for burning hydrocarbons?
The metals in coal, and some are radioactive, when burned cause the higher temperature to burn more oxygen and nitrogen....hence more carbon dixoide and more nitrogen oxide.
Doesn't it make sense to remove the garbage from coal before it is burned?
Here are figures used in the report for world coal totals, provided by the World Energy Council (WEC) in 2004 and reproduced by BP for 2004 and 2005, taking into account the three broad classifications of the resource:
Total world reserves (at end 2002):
bituminous coal + anthracite 479 billion tons
sub-bituminous coal 272 billion tons
lignite 158 billion tons
Each coal class has a different energy content:
anthracite 30 MJ/kg
bituminous coal 18.8–29.3 MJ/kg
sub-bitiminous coal 8.3–25 MJ/kg
lignite 5.5–14.3 MJ/kg
Unlike oil, which is traded globally, coal is a regional resource: 90 percent of coal production is consumed in the country of origin. Australia is the foremost coal exporter, and last year was responsible for 30 percent of the international trade in coal, double the proportion of the next-largest exporter (Indonesia).
According to the widely accepted view, at current production levels proven coal reserves will last 155 years (this according to the World Coal Institute). The U.S. Department of Energy (DOE) projects annual global coal consumption to grow 2.5 percent per year through 2030, by which time world consumption will be nearly double that of today. Meanwhile, coal remains the most environmentally damaging of the conventional fossil fuels. While it produces a quarter of the world’s energy, it is responsible for nearly 40 percent of greenhouse gas emissions, principally carbon dioxide (CO2). Efforts to sequester carbon could theoretically reduce that environmental burden, but coal is still problematic for other reasons. Sulfur, mercury, and radioactive elements are released into the air when coal is burned and are difficult to capture at source. Coal mining often destroys landscapes, and recently very fine coal dust originating in China and containing arsenic and other toxic elements has been detected drifting around the globe in increasing amounts.
The United States is the world’s second-largest producer, surpassing the two next important producer states (India and Australia) by nearly a factor of three. Its reserves are so large that America has sometimes been called “the Saudi Arabia of coal.” The U.S. has already passed its peak of production for high-quality coal (from the Appalachian mountains and the Illinois basin) and has seen production of bituminous coal decline since 1990. However, growing extraction of sub-bituminous coal in Wyoming has more than compensated for this. Taking reserves into account, the authors of the report conclude that growth in total volumes can continue for 10 to 15 years. However, in terms of energy content U.S. coal production peaked in 1998 at 598 million tons of oil equivalents (Mtoe); by 2005 this had fallen to 576 Mtoe.
This forecast for a near-term peak in U.S. coal extraction flies in the face of frequently repeated statements that the nation has 200 years’ worth of coal reserves at current levels of consumption. The report notes: “all of these reserves will probably not be converted into production volumes, as most of them are of low quality with high sulfur content or other restrictions.” It also points out that “the productivity of mines in terms of produced tons per miner steadily increased until 2000, but declines since then.”
The report’s key findings regarding future U.S. coal production are summed up in the following paragraph:
Three federal states (Montana, Illinois, Wyoming) own more than 70% of US coal reserves. Over the last 20 years two of these three states (Montana and Illinois) have been producing at remarkably low levels in relation to their reported reserves. Moreover, the production in Montana has remained constant for the last 10 years and the production in Illinois has steadily declined by 50% since 1986. This casts severe doubts on the reliability of their reported reserves. Even if these reported recoverable reserves do exist, some other reasons prevented their extraction and it is therefore very uncertain whether these reserves will ever be converted into produced volumes. Considering the insights of the regional analysis it is very likely that bituminous coal production in the US already has peaked, and that total coal production will peak between 2020 and 2030.
The report is somewhat more pessimistic than a previous independent analysis of future U.S. coal production by Gregson Vaux (“The Peak in U.S. Coal Production”), which gave America 30 to 50 years till peak.
World oil reserves running out?
published: Saturday | May 24, 2008
http://www.jamaica-gleaner.com/gleaner/20080524/letters/letters5.html
8k OUT May 14th.
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report: May 14, 2008
Geotec, Inc.
(Exact name of Small Business Issuer in Its Charter)
Florida
(State or Other Jurisdiction of Incorporation)
000-26315
59-3357040
(Commission File Number)
(IRS Employer Identification No.)
110 East Atlantic Avenue, Suite 200, Delray Beach, Florida
33444
(Address of Principal Executive Offices)
(Zip Code)
(561) 276-9960
(Registrant’s Telephone Number, Including Area Code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[__]
Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[__]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12
[__]
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[__]
Pre-commencement to medications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)
Section 1 – Registrant’s Business and Operations
Item 1.01 Entry into a Material Definitive Agreement.
On May 9, 2008, Geotec, Inc. (“Geotec” or the “Company”) executed an investment banking agreement (the “Agreement”) with StoneGate Partners, LLC (“StoneGate”), a specialty investment banking firm based in Boston, Massachusetts. StoneGate has agreed to serve as the exclusive placement agent for Geotec in connection with capital raising activities to finance Geotec’s operations, including projects involving Geotec’s proprietary protein/enzyme product. The Agreement has an effective date of April 30, 2008.
StoneGate also has agreed to act as the lead investment banker for up to 10 projects with Geotec involving the construction and operation of hydrocarbon bio-refinery facilities designed to generate tax credits under Section 45 of the Internal Revenue Code. The Company estimates that the startup costs for each bio-refinery facility will be approximately $10,000,000.
As part of the transaction, Geotec has issued a warrant (the “Warrant”) to StoneGate for the purchase of up to $25,000,000 worth of Geotec’s restricted common stock. The Warrant is for a period of 10 years and identifies various strike prices at which conversion rights may be exercised.
StoneGate seeks to help its clients achieve their goals by providing a variety of financial advisory services, including raising private capital and selling and buying businesses. StoneGate works extensively with its network of investors, including high net worth individuals, family offices, venture capital and private equity firms, banks and other institutional investors, in an effort to enable its clients to realize their objectives. StoneGate has extensive experience assisting its clients in the energy, real estate and technology industries.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
GEOTEC, INC.
/s/: Bradley T. Ray
Bradley T. Ray, Chief Executive Officer
DATED: May 14, 2008.
nice dip and nice close.... and really liking the fact that i have more of a clue about t/a then i did as newbie... is fun watching this because imo it looks like it is following a similar pattern as early 04.. believe it traded sideways for a bit less than this time around and was overbought when it shot up and think i remembered seeing a pull back on that 4+ year old chart before it went up over $1 but wasn't the same company back then either... so will be interesting to see what t/a theories circulating end up being true or false, BUT am really hoping things are lining up for that bigger pay off lol...
heading right back up... someone who was buying the .25-.30 shares has made a nice gain in less than 4 hours..
Yes....more like a plummet! But, what a difference a little time will make.........IMO
that was a fast retrace.
yeah, I caught this one last time from .07 up to .33.. made a nice piece of cash in less than a week...
Remember to take your initial investment off the table as soon as you're up 4X, then if it falls back down you won't feel the pain again...
I think we all will have a great year!
with this one it really wasn't hard to get your money back because this one has provided plenty of opportunities to average way down and then take profits but think some are waiting/hoping for a much big pay off... do know this is the only 1 of 3 that i bought as a brand new one back in 03 that is still standing and hasn't sunk into subber land so that for me is a real good thing lol...
getting your money back is a rare second chance..
glad i can catch both of you here!! looks like we are hitting some old resistance but real nice to see this one back up in ranges where i initially came in and really wish i had bought a ton more of this when it was under .10 but that a/s increase scared me lol....
Fireopal,the shares price action of the past few weeks would suggest better times are ahead for us shareholders.
New management, new technology...takes time to develop the market and put the infrastructure in place.
Up 126% this week........I agree we are moving. I've waited for 3 years however, you and Greatday have waited much longer. And it is just getting started IMO.
Followers
|
19
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
921
|
Created
|
11/10/02
|
Type
|
Free
|
Moderators |
_
http://www.geo-tec.net/
http://www.richcorp.net/
http://www.rich-labs.com/
http://tecenergylimited.com/global.htm
===============================================
========== Share Structure=======================
1. Authorized Common shares: 1 Billion
2. Authorized Preferred Shares: 10 Million
====================================
DELRAY BEACH, Fla., Feb. 8 /PRNewswire-FirstCall/ -- Geotec Thermal Generators, Inc. (Pink Sheets: GETC - News), in response to numerous inquires, is confirming that its common free share position, effective, January 31, 2007 is 29,063,987 common shares, on deposit with the Depository Trust Corporation (DTC). These shares are held in electronic form and freely tradable. 9,017,429 shares are in free trading certificate form, and the balance of 187,487,323, are restricted. Of the 187,487,323 restricted shares, 184,751,992 are pledged to, and are part of the Five Year Lock-Up Agreement controlled by Bradley T. Ray, the Company's Chairman and CEO.
Further, with the completion of the 14-C authorizing the increase in authorized shares, the Company will be able to complete its obligations to White Knight Holdings, LLC and Richcorp, Inc. Those obligations are described in the Company's previous filings with the United States Securities and Exchange Commission, and those shares are also part of the Five Year Lock-Up Agreement controlled by Bradley T. Ray.
Finally, any and all shares issued from the increase in authorized shares are subject to the Five Year Lock-Up Agreement, unless and if the shares are part of a registration filed with the United Stated Securities and Exchange Commission.
===============================================================
As of September 12, 2008, there were 415,391,107 shares of our common stock issued and outstanding. (ALL but aprox. 29M are in lockup)
======== From 10KSB of December 29,2006 =======================
WE HAVE ABANDONED OUR FORMER BUSINESS MODEL AND ACTIVITY TO UTILIZE THE PATENT DESCRIBED HEREIN AND TO BE A SERVICE PROVIDER TO THE OIL AND GAS INDUSTRY.
During calendar years 2003 and 2004, our business model centered around our ten-year exclusive license and U.S. Patent No. 6,817,298 to market and sell a unique oil treatment service to customers in North, Central, and South America. This technology, Gas Generators(TM), was not fully commercialized. Accordingly, we intend to sell our interest in this technology and we will not be a service company to the oil and gas marketplace. Instead, we will concentrate on monetizing our coal assets and our “Green Energy” technologies.
In the first quarter of 2005, we changed our business plan to pursue a “Green Energy” business model. Pursuant to this “Green Energy” business model we have entered into agreements to acquire laid up coal, above ground coal mines and technology to utilize coal to produce synthetic fuels. We intend to continue through 2006 to enter into additional agreements to acquire coal assets and technologies to produce gas, liquid or solid synthetic fuels, or refined “clean” or “Ultra Clean” coals. Through agreements described herein, we have obtained technologies that enable the processing of coal into Ultra Clean or Clean Coal. However, we have not yet generated any significant revenues with this new business model and there can be no assurances that future revenues will be sufficient to sustain and support our projected business operations. Further, while the technology has been favorably reported in a laboratory and pilot plant setting, there is no evidence that the technology will be commercially feasible as it has never been utilized to refine coal in a commercial setting.
===============================
Geotec, Inc. (PINKSHEETS: GETC) is a Green Energy Technology Company. Geotec has operations in the United States and Argentina and utilizes proteins and enzyme technology to chemically convert hydrocarbons to commercially higher value coal. The technologies are also used to purify hydrocarbons, such as coal or oil, of heavy metals and other contaminants such as sulfur, arsenic and mercury to prevent or correct pollution in the air, water or soils. In addition, hydrocarbon contaminated soils can be re-vegetated and re-forested.
============ 8k 04/09/08 ============================
Item 1.01 Entry into a Material Definitive Agreement.
MASTER DEVELOPMENT AGREEMENT WITH TTI TECHNOLOGIES, INC.
On April 8, 2008, Geotec, Inc. (“Geotec” or the “Company” ) entered into a Master Development Agreement (the “Agreement” ) with TTI Technologies, Inc. (“TTI” ) of Omaha, Nebraska (jointly referred to as the “Parties” ), regarding further development of Geotec’s proprietary enzyme/protein technology (the “Technology” ).
========== 8k 05/14/08 ==========================
Item 1.01 Entry into a Material Definitive Agreement.
On May 9, 2008, Geotec, Inc. (“Geotec” or the “Company” ) executed an investment banking agreement (the “Agreement” ) with StoneGate Partners, LLC (“StoneGate” ), a specialty investment banking firm based in Boston, Massachusetts.
===========PR Sept 15th 2008====================
Geotec, Inc. Has Received United States Patent Pending Status--Application Number 61/132,397
Geotec, Inc. (PINKSHEETS: GETC) announced today that it has filed patent applications with the United States Patent Office. Acknowledgment, as patent pending, has been received by the USPO for "Methods of refining hydrocarbons fuels and post-combustion production by enzyme and protein reactions." (Application number 61/132,397) The patent applications included the protein and enzyme processing, cleaning and purification of pre-combustion solid, liquid, and gas hydrocarbons. The patent application also included the lowering of metals, mercury, sulfur and other hydrocarbon contaminants that will decrease the air emissions of Nitrogen Oxides (NOx), Carbon Dioxide (CO2) and Sulfur Dioxides (SO2) and fine particles. These patents describe the bio-refining process for bio-diesel/jet fuel and marine bio-diesel. The Geotec intellectual property and enzyme/protein patents cover several cellulosic enzymes to convert waste farm products (corn stalks/cobs, rice husks, etc.) to ethanol/methanol for inclusion in "GeoRich Bio-Fuels." The "GeoRich" family of bio-friendly fuels will be used to operate the company's mining, bio-refining facilities and product delivery with bio-diesel/jet fuel and marine bio-diesel. The transesterification of ethanol into bio-fuels and bio-crude, environmental remediation, preliminary stages of carbon sequestration (pre-combustion) and its process to decontaminate gases containing impurities are part of the patent application. The protein/enzyme chemical sequestration and control of carbon dioxide, sulfur dioxides, nitrogen oxides, metals, and other contaminates from the post-combustion of solid, liquid and gas forms of hydrocarbons are part of the patent applications.
===========Filings during 2009====================
2007 1st Quarter 10Q- http://www.sec.gov/Archives/edgar/data/1087717/000138038909000006/getcform_10q033107.htm FILED 01/20/2009
2007 2nd Quarter 10Q- Not filed
2007 3rd Quarter 10Q- Not filed
2007 10K- Not filed
2008 1st Quarter 10Q- Not filed
2008 2nd Quarter 10Q- Not filed
2008 3rd Quarter 10Q- Not filed
2008 10K- Not due until March 2009
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |