Zinc8 Energy Solutions Inc. announced that it expects to receive CAD 0.45 million in funding
November 20, 2023
Debt Level: ZAIR.D is debt free.
Reducing Debt: ZAIR.D has no debt compared to 5 years ago when its debt to equity ratio was 126.7%.
Patients... is a virtue....
nobody ever offered a reason for the halt. do you think this could have been it?
Zinc8 Energy Solutions Inc. Announces Resignation of Ron Macdonald as CEO
September 18, 2023 at 01:55 pm EDT
Zinc8 Energy Solutions Inc. to provide certain updates regarding changes to its management and board of directors and regarding the Company's operations and financial position. Ron Macdonald has resigned as the Chairman, the CEO and a director of Zinc8 and Gurcharn Deol has resigned as a director. Dr. Simon Fan, the Chief Technology Officer and the Executive Vice-President of the Company will lead the Company in an executive and operational capacity until such time as the Board of Directors selects a new Chief Executive Officer.
In addition to his vital role developing Zinc8's proprietary technology, Dr. Fan brings a unique range of skills to Zinc8 and is one of the Company's longest tenured employees with tremendous dedication to the Company and its mission.
i did. they are all gone . like this dilution scheme will be.
You smarter than us Boss man..?
Not a fan of reverse splits for obvious reasons…huge percentage of those don’t work out. And why are you spamming so many other message boards…? Don’t even respond to this, if you don’t want Ihub Admin alerted…as even under new rules that’s taboo…
Ulster meeting update. Robert Parker gave a brief update that there are challenges with the company currently, but they still intend to move forward with Ulster County for manufacturing the product. They are highly confident in the technology and are working through organizational issues. He was going to meet with the IPark 87 people following the meeting.
Maybe they know something you don't..??
I don't think a reverse split has ever been good news. And, yes, it will apply to US shareholders.
we have a new top dog maybe he can sell something,
Zinc8 Energy Solutions (OTCPK:ZAIRF) Thursday announced the appointment of Jason Birmingham as Interim President & CEO, and a Director of the company effective November 2.
Sorin Spinu, Chief Financial Officer of Zinc8, is no longer serving as the Chief Financial Officer of the company.
i hope this is good news. does this apply to US share holds as well?
VANCOUVER, BC, Nov. 2, 2023 /CNW/ - Zinc8 Energy Solutions Inc. ("Zinc8" or the "Company") (CSE: ZAIR) (OTC: ZAIRF) (FSE: 0E9) announces that its board of directors has approved a consolidation (the "Consolidation") of the common shares in the capital of the Company (the "Common Shares") at a ratio of 10 pre-Consolidation Common Shares (the "Existing Shares") for one post-Consolidation Common Share (the "Consolidated Shares"). The Share Consolidation remains subject to the approval of the Canadian Securities Exchange (the "CSE"). The Company will issue a news release upon receiving CSE approval, announcing the effective date of the Share Consolidation. The Consolidated Shares will subsequently begin trading on a consolidated basis under the existing Company name and trading symbol.
Zinc8 Energy Solutions Logo (CNW Group/Zinc8 Energy Solutions Inc.)
The proposed share consolidation would result in the number of issued and outstanding common shares being reduced from the current outstanding 182,723,113 common shares to approximately 18,272,311 common shares, subject to rounding.
No fractional shares will be issued as a result of the share consolidation. Any fractional shares resulting from the share consolidation will be rounded up to the next whole common share, and no cash consideration will be paid in respect of fractional shares.
The company's board of directors believes that the share consolidation will provide the company with greater flexibility for the continued development of its business and the growth of the company, including financing arrangements.
The company will be obtaining a new CUSIP and ISIN number for the share consolidation. The record date and effective date of the share consolidation, and the new CUSIP and ISIN numbers, will be disclosed in a subsequent news release. Generally, with respect of a consolidation, the shares would commence quotation on the CSE on a consolidated basis on the first trading day prior to the record date, being the effective date, and the CSE would issue a bulletin to dealers advising of the share consolidation and effective date of trading on the consolidated basis. Notwithstanding the foregoing, the share consolidation is subject to regulatory approval, and the board of directors may, at its discretion, determine to amend the terms or not to move forward with the share consolidation.
The Company is in the process of securing alternate financing and the Board is canceling the proposed non-brokered private placement offering (the "Private Placement") announced on September 26, 2023 and revised on October 10, 2023.
The Company does not intend to obtain securityholder approval for the alternative financing in reliance on the exceptions outlined in section 4.6(2)(b) of Policy 4 of the Canadian Securities Exchange. Further to the Company's news release dated September 18, 2023, the Company needs additional funding to finance its operations and without such financing its ability to continue as a going concern is at risk. The independent directors of the Company have determined that pursuing alternate means of financing is in the best interests of the Company, and that it is not feasible to obtain securityholder approval for the alternate financing in a timely manner given the Company's circumstances.
The proceeds of the alternative financing will be used for working capital expenditures including operating expenses, payment of accounts payable, research and development, pursuing advancement of the Company's business plan, salaries and wages, and professional fees. Finder's fees and/or commissions may be paid in connection with that funding. This news release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction.
wanted to know if fluid could be charged a one location then trassported to second location for discharging. They said that it would not work that way.
And what did you think of their responses?
Finally after this post being up for a week they contacted me to answer my questions,
what would be interesting, if a similar competitor EOSE would buy zinc8.
to me this might push these guys along. they seam to be only engineers and scientists.
nobody in sales or marketing have they sold anything?
communication with zinc8 is horrible
yellow flag: I am a potential buyer of their systems, Have tried for 2 months to have a salesman return My inquires as to system sutabality for future Project. Have called company, 4 different E mail methods. no responce. Solar invest
The Ulster County IDA approved the additional taxable bonds. Zinc8 discussion starts at 1:04. It was also mentioned that another part of their financing package will include equity sales in US and Canada. Joe seemed confident that the deal will close in Q3.
Here is the video mentioned in that link:
Things are happening!
Most likely for the announcement of the production facility and the incentives that go along with it.
Can you ellaborate and link your sources?
They missed the funding/grants I’m sure there will another dilution coming. Hopefully small
On their website it's $4.5 million cash on hand. Sorry I missed the decimal point.
I did buy more shares based on my misinformation, but will hold long to wait and see if more shares issued for plant construction.
Working capital was about $4.1m CAD as of June 30.
Hope so, the most recent Quarterly Report had about $45 million cash on hand.
I assume it will be a combination of debt, equity and Gov incentives.
Just listened to this for the first time and got pretty excited. Ron looks to be a stand-up guy and that new board member he talked about toward the end sounds like he is worth millions to us. Time to buy more. It's a little scary when you don't hear much from the company but Ron explained that to my satisfaction as well.