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Repeat of March news out today:
The Company's subsidiary, Northstar Network Ltd., has been informed by LM Aeronautics on March 23, 2012 that NNL's contract for the P3 retrofit has been terminated by LM. The Company was unable to raise sufficient working capital for NNL's operations this past three years, primarily due, initially, to the downturn in the national economy. Without sufficient funding, it became increasingly difficult to carry out the contract work efficiently and this resulted in low margins and losses. (The contract, itself, had relatively tight margins for NNL to start with, and it required very efficient and timely execution to be able to achieve those margins.) The state of affairs of low margins and increasing losses then made it even more difficult for the company to raise capital, a situation which continued to show little improvement, especially over the past eight months or so. There was also a slow down on the program in early 2011 that contributed to NNL having to expend certain funds to keep its project team in place, with little revenue coming in from the program. NNL has entered into an agreement with another party to provide funding for NNL so there should be sufficient working capital to enable NNL to perform its obligations under the LM contract.
NNL is in discussions with LM to show that it will have the resources to carry out the remainder of the contract. NNL is requesting that the customer reinstate NNL's role in the program. NNL has a long history with LM and has found the customer to be very cooperative, over the past eight months, in working with it to try to preserve NNL's role as a LM subcontractor
yep, slow buying building up past 3 weeks. Also, I get all insider/officer holdings listed is about 22M now. Conservatively using 75M o/s brings that alone down to a 53M float. Or did I screw that up? eom
Getting LM back could be paramount. I'm guessing they have a chance. Three tiny cos. that converged into one is a lot stronger, a selling point to contractors.
Maybe another surprise coming thats been holding on the EPT acquis. (if/when).
from the 10Q:
Although the Company has experienced a net loss this quarter, we will continue to
expend efforts to acquire contracts in the defense sector in addition to its plans
to develop products and systems for that sector and for the Homeland Security,
commercial shipping, commercial fishing and cruise ship sectors.
We are looking for external funding partners in order to inject the necessary
capital to develop systems for use in multiple sectors, and will be interested in
establishing working relationships with companies in North America and Europe,
either through partnerships or Joint Ventures, for joint projects or other
contractual arrangements.
EPA has given them plenty of time to set up for it. Should just plop a tube down and suck oil. LOL.
3 future events that will help. The EPT/NEIK completion; beta website finish; and a biggie after those 2 is any contract news.
Empower expects the closing of the purchase of Northstar Network on or before May 31, 2012. This is the 5/14 update from the Empower website.
http://www.empowertechnologies.com/press/2012/2012_05_14a.html
Just another extension needed unfortunately. Latest EPT/NEIK ext. is currently 5/31. Could go into June possibly.
Dejour Energy Update on Woodrush Waterflood
May Oil Production to Date 15% Above March Production
http://finance.yahoo.com/news/dejour-energy-woodrush-waterflood-194100817.html
Each whole warrant is exercisable into one common share for a period of one year at $0.15 per share. eom
As of May 14, 2012, there were 73,177,216 shares of Common Stock
good timing on your part. jmho.
I'm still waiting for the initial EPT/NEIK acquisition to complete. Wish they would comment on the delays. Since the 4/31 deadline passed the wording sez NEIK should get $100,000 to carry on in good faith to the next deadline (5/31).
FWIW, Empower annual report out for 12/31/11 on SEDAR:
pertaining to the acquisition, page 24, part 20a
Ca-ching! "The achievement of these goals has helped transition the Company from the development stage to the production stage with "significant potential" for growth, revenue and shareholder equity, contingent upon the successful completion of business plan for roll-out of processors."
Just ca-chingin'
Governors call for more natural gas vehicles--->
http://www.examiner.com/article/hickenlooper-joins-other-govs-call-for-more-natural-gas-vehicles
I couldn't even guess. I'm waiting to see the current "cash from operations number". Prior 3 Qs 6/11 thru 12/11 grew sequencially -5k, +123k, +521k....
"The Definitive Agreement provides for an outside closing date of May 31, 2012 after which the agreement will terminate unless extended by the parties"
From last nr:
"Empower now expects the closing of the purchase of Northstar Network on or before April 30, 2012"
"In the event the transaction does not close by April 30, 2012, Empower will advance the Vendor an additional $100,000 of the purchase price, thereby reducing the Closing Payment to $400,000."
This last quarter were several problems with pumps and such. I expect this next Q will be a good one. Gretel, Australia, Ambercrombie, Defender, Everett, Spirit of America all still slowly coming along.
Q report hilites:
Gas produced for sale up 6% from previous quarter to 60,479 Mcf
- Oil production up 25% from previous quarter to 23,833 barrels
- Cash receipts from debtors for the quarter was US$1.9 million
- Estimated revenue from oil and gas sales up 25% from the previous quarter to US$2.4 million
- Refund of previous income taxes paid of US$2.9 million
- A closing cash balance for the quarter of US$31.4 million
I sent this email to IR as an example, FWIW:
"While Samson stock is actively traded on the ASX, its trading on the NYSE Amex is much greater. For the month of December 2011 the trading ratio between the two markets was 5:1. That is for every share traded on the ASX, five times as many shares were traded on the NYSE Amex. The value of shares traded on the ASX for December was approximately US$7.3 million whereas US$34.0 million was traded on NYSE Amex (translated from AUD on the date of the transaction).
Experts in the field of share valuation state that to be fairly valued a share must be liquid; the adage often used is “Liquidity drives transparency of value”
Uh, yeah, I can read charts. It was high, now its low. Hence, buy low- sell high. Thanx anyway.
Chartwise, OBV & Acc/Dist have been slowly ramping up since last November. Something else thats appealing, this penny stays current on filings. A week late at times but no biggie.
T trades are outside of market hours. Could be a buy or sell depending on the price. Or MM book-balancing.
I'm just confused on this stock right now. That could explain the holding pattern at this level. Most inst. buying is at the bid as in this case. If so JPM may see something we don't yet. All I can see is MSN shows Tealwood holding 1.8M after selling a little, dated 3/31.
In any case I'm going poaching prairie chickens in New Mexico, f*** the EPA.
Institutional buying starting to show up on fin. websites. Not seeing much so far but its a start.
People worn out from the warrant conversions and the S8. Can't say as I blame them. Low volume and too bad since the S8 was getting close to finishing. jmo
sure was in no hurry to fill my order this morning. Sat there for 10 minutes.
good buy now. Gapped down big, good news on March operations and offering just expired.
2011 highlights include:
-- Proven reserves at December 31, 2011 increased 36% to 2.35 million (MM)
barrels of oil equivalent (boe) and proven plus probable reserves
increased by 150% to 12.12 MMboe from December 31, 2010, as estimated by
the independent report completed by NSAI (as defined below under Reserve
Data) dated as of December 31, 2011;
-- Net present value of future net revenue attributable to proved reserves
increased 63% to US$45.8MM (US$28.1MM: 2010), and proved plus probable
reserves increased 72% to US$145.2MM (US$84.3MM: 2010) (discounted 10%)
as estimated by the NSAI Report;
-- Average production volumes increased 38% to 240 boe per day (boe/d) for
the twelve month period ended December 31, 2011 (174 boe/d: 2010);
-- Revenues increased 63% to US$1.21MM for the three month period ended
December 31, 2011, (US$0.74MM for the comparable three month period
ended December 31, 2010);
-- Annual revenues increased 83% to US$4.1MM for the year 2011, (US$2.23MM:
2010).
Too bad our markets aren't sovereign any more. We're blasted for EU garbage still.
http://www.foxbusiness.com/index.html
I goofed. The max on the S8 is .4453. So it couldn't start till about 3/6, not 2/19.
I like your putting Greg Wilkensen in the photo chain. I did a little DD on him, another impressive big supporter.
Its pretty much what was expected. The stock continues to be undervalued. Peers with less than half of DEJs worth trade up to a $. Current inst. ownership reported by the company is just more proof.
well that didn't work, did it.
http://www.sedar.com/
type in "empower" and search, look for 3/30 filing.
EPT update: "supply agreement" w/Asian Co.---->
http://www.sedar.com/FindCompanyDocuments.do
I think that's a good possibility. eom
NT 10K out. Reasons obvious, EPT acquisition imo.
EPT/NEIK closing countdown starts today.(as early as 3/31). Since they said Echotec would be done by mid-April you would think it'll happen in the next 2 weeks.