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It might make sense to hold off any announcements until after the October dumping is done... Then, given some good news, we should be able to course correct and build some positive momentum.
The Q2 10Q, pages 10-12 detailed a long list of convertible debt much of which seems to have been converted. Note the last one listed at the top of page 12:
During April 2020, the Company issued a convertible note payable in the amount of $247,500. The convertible note payable is due one year from the date of issuance, has an original issuance discount of $22,500, accrues interest at the rate of 5% per annum, is unsecured and is convertible after 180 days into shares of the Company’s common stock at a discount of 65% of the lowest trading price for the Company’s common stock during the ten trading days immediately preceding the conversion.
Investigate what? Video went *poof*. Besides, I'm feeling pretty good right now about our future.
This new round of dumping was expected, so we are all blessed/cursed with one last chance to pick up some cheapies before CCTC explodes/implodes.
Flip a coin... just make sure it's a silver dollar. $$$
Don't give up hope just yet... Now is the time to BUY!!
This ongoing dilution is not a surprise. Although I'd hoped for a miracle, I've always expected we'd reach max dilution by the time we saw any real revenue.
Back in 2016, there was a deal on the table to finance CCTI through commercialization in exchange for 70% equity in the company. At that time, there was a shareholder vote to increase A/S from 150M to 500M shares to facilitate that transaction, which obviously never happened. If it had, CCTC would likely be trading in dollars by now despite being fully diluted.
CCTC later announced another strategic investor who would carry them through commercialization... but then we had the redesigns and delays, not to mention COVID-19, and the funding dried up, leaving us broke, the test plant in ruins, toxic debt due, and more than 300M shares outstanding.
Now there's a new deal on the table for $250M... oops, forgot my decimal point... $2.50M in financing, which might be bumped up to $5M in a two-part deal. That might suggest a funds-matching grant is in the works, à la ECED's double or nothing play for a U.S. EDA grant (see pinned forum comment). In either case, we should be prepared for another vote to significantly increase A/S. Yeah, it sucks... but if it gets us moving forward again, it'll be worth it because the alternative is not pretty. If it happens, any funding deal should stop the bleeding and could spark a run to a nickel or two.
The future is still bright, but for now, we can take off the shades.
Hmmm, that's interesting... It was $2.5M in funding; Now that's doubled to $5M... There could be some funds-matching going on here. Let's pray they lock it down soon!
I don't know if it'll cook our goose, but that rotary kiln would make an excellent turkey fryer... and with any luck, a turkey flyer.
Assume nothing is a coincidence and try to make sense out of everything we know.
Hints are being dropped... you just have to pay attention.
For example:
Who was the Greek god who held up the world?
What is the name of our kiln?
Who is the Operations Manager for the ITC?
What other positions does he currently hold?
Up until last year, where did he work as VP/COO?
What is his opinion of CCTI and their technology?
That's right. In fact, I think you were first to mention Project Vanderbilt on this board.
CCTC leased land from ATLAS which solved some of their permitting issues. ACPIC wasn't so lucky. Last I heard, they were still waiting for necessary permits. If we need to tap into ACPIC utilities, that could be one reason for the delayed rebuild (e.g. a gas line will be required for the new kiln).
Two weeks ago, I posted (#58385) that ACPIC and CCTI were inexorably linked and Aiden confirmed they "have been working with the team there across a number of topics" and "that relationship might be made more formal in the future." Well, the future is now. An MOU was just announced between CCTI and ECED, which owns ACPIC. To quote from the same post,
Mr. Neary said the DOE will visit their plant upon completion... which makes sense when you consider NETL is setting up shop at ACPIC to work with SER on a project utilizing "a pilot-scale production facility at the Advanced Carbon Products Innovation Center, now under development in Gillette, to demonstrate the economically viable production of rare earth elements from coal-related feedstocks."
That's why I've speculated it might be Black Diamond scooping up most of these cheapies since they already own a significant interest in CCTC as well as WNP.
"Hard to say there's no ECED ACPIC CCTC connection now.. "
So true! You'll remember last year I speculated about a CCTC, ACPIC, and ECED connection. (posts# 52809, 52834 & 53148)
What many fail to realize is that "Project Vanderbilt" was likely THE reason why ECED and the UWyo moved forward with plans for a pre-combustion coal research facility in the first place. And let's not forget about ATLAS... I've thrown out hints for a year or two about the possible connection there.
"With the arrival of our $1.3m Rotary Kiln at our site last month this partnership will provide our ability to supply processed coal feedstock to other businesses in the Industrial park..."
Hmmm... How many other businesses at Fort Union?
Q. Might ATLAS be interested in certain Pristine-M byproducts in the production of their activated carbon?
A. "We chose that location for a reason and one just needs to look at the feedstock Atlas Carbon uses and then what our technology produces."
$$$ Cha-Ching $$$
You could be right. A PR was rumored for this week, and I doubt they'd release it until the dumping has stopped. Otherwise, any good news would only be drowned out by the sound of the toilet flushing.
Believe me, I know it's frustrating and disheartening, but Aiden insists that ...
"in every single case the delay is, in my opinion, justified as it improves the process which ultimately will ensure effective and successful commercialization."
and "As the largest shareholder I can assure you that every single action I take is for the benefit of the shareholders even if that is not always apparent. "
Did Aiden actually say a PR was forthcoming?
Well, in early May, Aiden confirmed that
"WNP and Jindal are still firmly interested."
However, a lot can change in 4 months, especially during a global pandemic... just look at our share price, from 7¢ to a penny despite delivery of our long-awaited $1.3M rotary kiln.
I've speculated that some of this trading might be between financial institutions.
Black Diamond already holds significant interest in CCTC, so it wouldn't surprise me if they are scooping up many of these penny shares. They are also a big player in Wyoming New Power which plans to license a 2-MTPA Pristine-M plant upon commercialization. That's why WNP is a "related party."
Black Diamond holds the key to the success of CCTI. No doubt they are keenly aware that when they push forward with their plans for WNP in 2021, CCTC will necessarily skyrocket. $$$
Reading comprehension isn't what it used to be.
(See post #57927)
Eighteen years ago, Mr. Sandoval had a few trading infractions and paid the fines without admitting guilt; The most serious resulted in him being barred from acting as a dual trader for 12 months. It appears 2002 was also his first year working as a broker. No recorded SEC violations since, so I think we can cut him some slack.
Two Rivers had claimed he "allegedly violated securities laws by inaccurately and untimely disclosing his acquisition" of CCTC and refused to correct his filing. Tacho had previously provided Two Rivers with Millions of dollars in financing and became a Class A non-managing member. That was not enough to save them though... After 12 years in business, this brokerage firm had its FINRA registration TERMINATED on 10/15/19.
It appears these ungrateful b@st@rds attempted to cheat Tacho by using an alleged violation of their Operating Agreement to renege on their obligation to repay the loan. In this breach-of-contract suit, the court found that Two Rivers made "the erroneous contention" that Sandoval violated a provision in their Operating Agreement (he did not) and had "no authority for use of the faithless-servant doctrine to preclude recovery of loans."
Case DISMISSED on 7/7/2020.
Two Rivers went tits up, so I doubt Mr. Sandoval ever got repaid.
You're right... the last time this guy broke out his crayons it triggered a mini-run and we were up 50% a week later. He's just regurgitating the same old news posted weeks ago about a dismissed case where Two Rivers was trying to cheat Tacho out of money they owed him. It really had nothing to do with CCTC other than a reference to an SEC filing he made that might've contained a typo.
More info here...
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=157578218
UW owns ZERO. The kiln belongs to CCTI.
Aiden Neary said the University paid for the kiln, and that
"These funds are non dilutive, and not debt. The rotary kiln is ours. "
We can make it happen for just $39.95!
https://advancedgraphics.com/president-donald-trump-cardboard-cutout-2213/
I swear, I'm almost tempted to buy that thing!
Yeah, I heard the same thing. The fact is, Dr. Horner probably needs his new lab to assist with the testing of Pristine-M coal. The way it was described to me, coal will be run through in batches with different parameters (temp, cycle time, etc) to optimize the results for each client. One would assume those batches would be analyzed using the state-of-the-art equipment located at SER's ACPIC lab next-door.
That said, I don't see any reason why CCTI can't move forward with assembly now, unless it is related to utilities or financing. That new SER-NETL REE project which is to be located at ACPIC includes $810k from DOE's Technology Commercialization Fund. Given that they already paid for the REE extraction kiln, it would surprise no one if the University uses those funds towards plant reassembly... especially since CCTI is broke.
The University paid for CCTI's rotary kiln. UW's SER will maintain a lab at ACPIC for their pre-combustion coal/byproduct/REE research. It appears DOE's NETL will be there as well to assist the University with its rare-earth research.
I suspect delays in the assembly of our test plant might be related to ACPIC, which will require installation of new utility lines including water, gas, and electric in addition to a water well, septic and leach field. Who wants to bet our test plant will tap into these? Last I heard, ECED was hoping construction would begin on ACPIC by the end of the year... CCTC couldn't be far behind.
Remember that CEO Eves said that Wyoming offered them a long-term commercial loan worth millions of dollars.
My guess is that they have to prove themselves first... We need that plant assembled ASAP!!
Like Cartman said, shareholders would have to vote for that to happen. A reverse-split by itself is not bad, but it's often accompanied by an increase in authorized shares that is obfuscated by the decrease in overall shares. If they request an increase at next year's shareholders meeting, we must vote YES! We're so close to commercialization, we can't afford to stall out now. Even once licensees are signed, an increase in A.S. might still be necessary. Management has been paid in IOUs for some time now... Not sure how these things work, but they might want to convert to shares at some point to avoid a takeover.
ILM, I agree 100%. There is a huge opportunity here with CCTC being driven artificially low by the dumping of converted shares.
It has been said that financial institutions are unwilling to hold penny stocks no matter how promising they are, so they dump them like a hot potato as they are converted. I don't know the details of how convertible notes are handled, but it appears there is some throttling going on as they try to avoid selling below their conversion price.
CCTC is trading far below where it should be given its current level of dilution... and that's true even if you factor in max dilution to 500M shares.
For reference, our Market Cap this year ranged between $10-$15M prior to the toxic debt conversion which began in May. Note that MC was before delivery of our long overdue kiln. Think about it... CCTC gained $1.3M in hard assets in August, but you'd never know it to look at our stock price. That complex piece of equipment was gifted to them through a University grant... It didn't cost them a thing.
Yet, our Market Cap is still below $3M... Are you kidding me?
Fortunis erit fecit hic pro illis velle carpe diem! $$$
I feel bad for any poor fool selling CCTC at 10¢ on the dollar... or in this case, a penny on the dime. At least I've never lost a penny on this stock, because I've never sold a share. Commercialized or not, 2021 should be a good year with all of the attention ACPIC will bring. It's just stupid to sell now.
6.4M shares dumped, and CCTC only down 5%.
We held up surprisingly well considering the volume.
For reference,
8/5/20 6.6Msh traded, CCTC down 19%.
7/27/20 6.5Msh, -31%.
7/6/20 6.6Msh, -43%.
Who is gobbling up all of these shares? I'm sure most of us here are already stuffed on this turkey and impatiently waiting to lay a golden egg.
Isn't an SEC filing required for individuals crossing the 5% threshold? Currently, that's ~14M shares.
I suspect this might be trading between financial institutions... Is it possible that Black Diamond (a related party that already holds significant interest in CCTC) is acquiring these shares directly from other convertible note holders?
Aiden said the University paid for the kiln which
"took 6 months to design before it was even assembled... These funds are non dilutive, and not debt. The rotary kiln is ours."
Our current dilution could indicate the turkeys have finally come home to roost... that is, old debt that was rolled over one too many times.
I don’t know what’s going on with funding.
Maybe management is hoping for a piece of that $810k DOE Technology Commercialization Fund earmarked for construction of that NETL-SER REE project.
"And I can assure All, the state of WY, the university, and other principals are not going to let the device wallow on the concrete slab."
Yes, and you can add the DOE...
Earlier this summer, it was announced that DOE's National Energy Technology Laboratory (NETL) will be setting up shop at ACPIC to work with SER on a $1.62M project to extract "rare earth elements from coal-related feedstocks."
I suspect that project will focus on CCTI's custom-built rotary kiln which was designed for automatic extraction of byproducts including rare-earth minerals. While it's possible that NETL-SER could construct their own $1.3M REE extraction kiln rather than use the one they gifted to CCTI located just 30 feet away, it's not likely since their budget is only $1.6M.
I believe over the next few months, the veil of secrecy will begin to lift and all of these disjointed pieces will start clicking into place.
I am confident that 2021 WILL BE the breakout year for CCTC! $$$
Agreed. I should've said "when," not "if."
I find it telling that you didn't take issue with my supposition that CCTC could easily see a $1B market cap when successfully commercialized.
More likely, the previous week's O/S were not updated.
I've always expected that CCTC would be fully diluted to 500M shares by the time we reached commercialization.
In fact, when I bought in 3.5 years ago, we were expecting to give up 300M shares to an investment partner in a deal that apparently never happened. I say "apparently never happened" because for all we know, this toxic financing might've been part of that deal.
So, this dilution really doesn't worry me too much. Why? Because if this technology is successfully commercialized, that is, if WNP and/or Jindal construct their first commercial modules and economically upgrade coal, then I have ZERO doubt that CCTI will be a BILLION dollar company. That is not hyperbole... We could reach a $1B market cap at max dilution if just 10% of Wyoming's annual coal production was upgraded to Pristine-M at standard rates. That's without considering foreign licenses... and we all know that's where the real $$$ is!
Some random thoughts about our status...
Let's just say, hypothetically, that CCTC is having trouble getting financing needed to complete assembly of their Pristine 2.0 test plant. That is a real possibility given the uncertainty caused from C19, rioting in the streets, and the upcoming election. That means we could be bouncing around a penny for a couple of months as the fate of the plant remains in limbo.
Post election, regardless of the winner, things should calm down and a vaccine is expected by the end of the year. Obviously, one candidate is better for CCTC than the other, but Aiden reminded me that much was accomplished with the support of the DOE (must've been moral) during the prior administration despite all of their anti-coal rhetoric. Point is, financing should loosen up as things return to normal in early 2021.
With ACPIC expected to be completed by spring, I am certain our plant will be as well, if not long before. The University of Wyoming's SER laboratory will be researching coal-to-products and rare-earth minerals using Pristine byproducts produced from the Rotary Kiln that they paid for. For good or ill, I believe ACPIC and CCTI are inexorably linked. However, Aiden did say their commercialization time table was not linked to ACPIC or the University's research, but they "have been working with the team there across a number of topics" and "that relationship might be made more formal in the future."
Mr. Neary said the DOE will visit their plant upon completion... which makes sense when you consider NETL is setting up shop at ACPIC to work with SER on a project utilizing "a pilot-scale production facility at the Advanced Carbon Products Innovation Center, now under development in Gillette, to demonstrate the economically viable production of rare earth elements from coal-related feedstocks." The $1.62M project includes $810k from DOE's Technology Commercialization Fund. Hmmm, interesting... Is it a coincidence that CCTC's "pilot-scale production facility" located beside ACPIC will produce REEs thanks to a University designed and paid-for rotary kiln? Might management be waiting for funds from that "Technology Commercialization Fund" to begin construction??
Forget about commercialization and foreign coal shipments for a minute.
What happens to our PPS when construction of both ACPIC and the test plant is completed and our relationship is "made more formal," the DOE becomes active involved, and the REE hype-machine gets started? No doubt CCTC will benefit from both direct and indirect press coverage. Up until now, CCTC has been flying under the radar... What would a mention of "dust-free coal" on network news be worth to us?
History has shown that investment in CCTC while expecting a quick return might not be the best plan...
but for those willing to place your bets and let it ride, I believe our patience will be rewarded. $$$
You're not alone... Beverly Hills or Bust.
Smart move!
The bleeding has stopped. Great week ahead!
Outstanding Shares reported each Friday:
8/21/20 O/S: 259.6M $0.0153 -- No increase!
8/14/20 O/S: 259.6M $0.0119
8/07/20 O/S: 255.4M $0.0106
7/31/20 O/S: 238M
7/24/20 O/S: 227M
7/17/20 O/S: 216M
7/10/20 O/S: 205M
6/26/20 O/S: 196.4M
5/08/20 O/S: 187M
3/27/20 O/S: 181M $0.0649
Note that between 3/27/20 and 8/7/20, there was a 41% increase in O/S, but a whopping 83% decrease in share price (6.5¢ to 1¢). Based on our current dilution, we should be trading at 4.5¢, and that's without the kiln delivery. Put another way, if it hadn't been for the dilution caused from much of their toxic debt being retired, and based on our 50% bump since kiln delivery, we could've seen 9.7¢. Factor in the dilution, and that puts us at 6.8¢.
Hopefully, it won't take long for investors to realize that CCTC has been greatly oversold and a correction is in order. $$$