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Just got back home,
when I left it looked like a 50% retracement. That is normal for a large move in a penny stock without substantial news to support the prior move. Churning!
Hi PSU- that float number
is what is currently listed by Yahoo for this company's "Critical Information" in the left column when you get a Yahoo summary quote. It is likely old. Best to call the transfer agent or the company.
Now NEWS Today:
Monumental Market Opportunity for CleanTech Biofuels Created by Changing Political Climate
Thursday June 19, 11:18 am ET
ST. LOUIS, MO--(MARKET WIRE)--Jun 19, 2008 -- CleanTech Biofuels, Inc. (OTC BB:CLTH.OB - News), the developer of a revolutionary waste-to-fuel cellulosic ethanol technology system, voiced its support for the increased focus and attention that both Barack Obama and John McCain have given to a national energy policy and the impact of global climate change. Both candidates have vowed to mitigate carbon dioxide emissions and bolster domestic renewable energy investments.
CleanTech's technology addresses both of these issues by producing ethanol locally using waste that would otherwise end up in landfills. CleanTech's technology will significantly reduce the amount of methane and other dangerous greenhouse gases created by disposing of waste in landfills while simultaneously creating a renewable source of fuel locally. CleanTech is currently evaluating the impact that its technologies will have on carbon emissions to understand the potential benefit to its business from recent proposals by Presidential candidates and members of Congress.
Earlier this month, Republican nominee Senator John McCain launched his November election campaign by vowing to free America from dependence on foreign oil and cited his plans to cut emissions and fight global warming, which is a welcome paradigm change from the current administration's energy policy. Democratic nominee Senator Barack Obama also announced his support of plans to cap U.S. greenhouse gas emissions.
"The political tides are changing to the benefit of companies such as ours that offer sustainable clean energy solutions and sequester carbon dioxide (CO2)," stated Ed Hennessey, CEO of CleanTech Biofuels. "On the Congressional level, the climate change bill sponsored by Senators Joe Lieberman, John Warner and Barbara Boxer has been praised as one of the most important pieces of legislation in a long time." He went on to say: "Both Presidential nominees of their respective political parties, Senator McCain and Senator Obama, are in favor of carbon dioxide emissions regulation. We heartily support their efforts."
Although CleanTech's current business strategy does not depend on governmental legislation for commercial success, the passing of any form of legislation that would regulate carbon dioxide emissions could instantly open up a massive new revenue source further bolstering its business. In addition, the United States Carbon Credit Marketplace being proposed by both Presidential candidates may facilitate the added benefit for CleanTech Biofuels to sell carbon credits created by their processing of municipal waste into ethanol fuel which mitigates carbon dioxide emissions to help finance development of commercial plants.
COO of CleanTech Biofuels, Michael Kime, commented further to say: "We are in full support of these legislative efforts. It is possible that a successful bill may take a different shape than the current Senate proposal, but we believe that serious political action is highly likely to occur no later than early next year. Either way, active deliberation of this legislation is favorable for CleanTech Biofuels."
"It is such an exciting time to be living and working in this industry," continued Mr. Kime. "Since announcing our preliminary data earlier this month, we have received numerous inquiries from very promising prospective business partners which we expect could be announced in the coming weeks and months. The outlook is exceptionally encouraging. There aren't many entrepreneurial opportunities in a person's lifetime where one can create great value while serving a noble cause. John Doerr, the legendary Silicon Valley venture capitalist, stated it well when he said that stopping global climate change is the largest economic opportunity of the 21st century, and a moral imperative. We agree and are thrilled to help meet this challenge."
letoleto- going on?
06/18/08: Green Globe International, Inc. Announces Strategic Alliance Agreement With MCI for Meeting and Events Industry
MURRIETA, CA--(MARKET WIRE)--Jun 18, 2008 -- Green Globe International, Inc. (OTC BB:GGLB.OB - News), which owns the Green Globe brand, the premier international green brand focused on sustainability and carbon neutrality programs, today announced an agreement with MCI, the foremost global association, communications and event management company.
Under the strategic alliance agreement the two companies will provide sustainability consultancy services to meeting facilities and destinations that are compelled to improve the environmental and financial performance of their operations through the integration of sustainable business principles.
MCI's Sustainable Services division will work closely with the Green Globe team to implement practical solutions based on the Green Globe standards and MCI's MeetGreen(SM) program. MeetGreen(SM) is a set of tools and certifications that give guidance and benchmarking for green meetings.
Green Globe is the only international benchmarking and certification program based on the UN's Agenda 21 principles. It provides a framework for environmental and social performance improvement through independent third party verification. The Green Globe standards include measurement of scientifically verifiable indicators including energy, water, and waste.
The consulting projects will use the MCI four-stage implementation methodology covering: strategy and vision, stakeholder engagement, operational implementation and innovation. Within this framework, MCI and Green Globe will support venues and destinations to achieve and then market their Green Globe certification.
Green Globe International will provide expert consultants who are qualified in assessing existing sustainable practices, training customers in the methods of gathering and reporting data, and communicating sustainable credentials via web based services.
Guy Bigwood, MCI Sustainability Director, commented, "As sustainability increasingly becomes a key driver for decision makers in corporations and associations, meeting planners are in need of forward thinking venues and destinations that can deliver on expectations for environmental responsibility and green meeting standards. Within this framework, measurement, benchmarking and certification have become vital ingredients. Green Globe provides the leading globally recognised standards and benchmarking system."
Steven R. Peacock, Green Globe International CEO, stated, "MCI provides an effective channel for introducing our scientifically based standards and sustainability solutions to the meetings and events world. As a leader in the industry, MCI has already established it green credentials through a very well-developed Corporate Social Responsibility strategy, which includes the sustainable event framework, and their membership and leadership position in the Green Meeting Industry Council. By aligning with MCI, we look forward to Green Globe having significant opportunities to apply our sustainability and carbon neutrality programs to meeting and event venues and destinations."
The World Travel and Tourism Council (WTTC) established Green Globe in 1992 as a response to the United Nations Rio de Janeiro Earth Summit, where 182 Heads of State endorsed the Agenda 21 principles of Sustainable Development. Green Globe is the only international benchmarking and certification program based on Agenda 21 principles. It provides a framework for environmental and social performance improvement through independent third party verification.
Green Globe International (www.greenglobeint.com) encourages all shareholders and others interested in following the progress of the company to subscribe to receive email alerts whenever new information is made public. To subscribe, please visit http://www.greenglobeint.com/stayconnected/email/.
Somewhere someone somehow knows everything about a company.
That is the mystery and madness of the stock market.
Go GREEN!
Jatropha is one of the lowest cost feedstock sources for production of biodiesel. It is a non-food plant that is easy to grow, even on wastelands. It yields more than 2.5 metric tons of non-edible oil per hectare per year. Pure Biofuels plans to plant its crops on marginal land that is unsuitable for cultivating food crops. The company intends to ramp up to a planting a rate of 1,000 hectares per month and expects 80% of its feedstock will be derived from its local Jatropha plantation by 2015.
per June 10, 2008 Press Release
http://biz.yahoo.com/bw/080610/20080610005688.html?.v=1
NEWS this week!!!
(As mentioned previously)
CleanTech Biofuels Addresses Rising Global Food Costs and Sustainable Waste to Energy Cellulosic Ethanol Technology Solutions
Tuesday June 17, 9:35 am ET
ST. LOUIS, MO--(MARKET WIRE)--Jun 17, 2008 -- CleanTech Biofuels, Inc. (OTC BB:CLTH.OB - News) is pleased to announce a growing number of executive interviews being conducted with media regarding the key role CleanTech Biofuels' cellulosic ethanol technology can play to help alleviate US foreign dependency for oil by developing biofuels sourced from municipal solid waste.
Aurora Venture Communications Group is now featuring an online webcast audio interview with Mr. Michael Kime, COO of CleanTech Biofuels, Inc., who also Co-Wrote and Co-Produced the award winning feature documentary, "Can Mr. Smith Get to Washington Anymore?" The interview covers a range of topics including Mr. Kime's personal insights into the conflux of environmental and political forces that are driving the market and the media's interest in waste-to-energy technology. The interview can be found online at: http://www.avcg.net/CLTH.
Additional interviews with Edward Hennessey, CEO of CleanTech Biofuels, Inc. and COO, Michael Kime were conducted on the following radio shows:
Wise Money w/ Brian and Gerro -- KERR, Bakersfield, CA (2 appearances)
KFNN Business for Breakfast w/ Ken Morgan & Julie Dougherty -- KFNN, Phoenix, AZ
Fort Wayne Mornings w/ Charly Butcher -- WOWO, Fort Wayne, IN (2 appearances)
Traders Nation (National Syndication)
CEO of CleanTech Biofuels, Inc., Edward Hennessey, commented: "As ethanol production from food crops has exploded in recent years, there are increasing concerns over the amount of arable land once used for food production being displaced for energy crops. Additionally, concerns have been raised regarding the energy and pollution balance of other methods of ethanol production. Consequently our business model which leverages the existing infrastructure for municipal solid waste collection and disposal to collect biomass at a low or negative feedstock cost is beginning to receive the recognition we feel it deserves."
Hennessey further stated: "We believe that we will achieve profitability quickly relative to other cellulosic ethanol producers who must develop their infrastructure to collect and transport more expensive feedstocks such as switchgrass, wood waste, or corn stover. Moreover, biomass derived from garbage should not be subject to increases in commodity prices that plague producers currently manufacturing ethanol from corn."
Price has stabilized above .10 support level,
and market awaits news on Wilmington NC plant:
-Kreido’s modular biodiesel plant design has allowed the company to fabricate plant components off site while it obtains required regulatory approvals. Pulling from talent in Wilmington, Kreido will use the local workforce to build and staff its plant, creating approximately 22 jobs.
Kreido’s flagship plant will occupy an approximately 3.8 acre site leased from the Port of Wilmington adjacent to an intermodal distribution terminal operated by Vopak Terminal Wilmington, Inc. from which Kreido will lease storage tanks. The Wilmington site is situated on a deep water port that the company believes will provide first-rate access to U.S. East Coast and European biodiesel markets as well as excellent sourcing of domestic and international feedstocks. -
mick- someone was selling today,
round up the usual suspects! But frankly, I like the technical set up. We are at the bottom of the trading range for the third time of late. There is no reason yet for it to do anything else. Everyone that has a predisposition has taken action. The flippers are flipping. The holders are holding. Yada Yada Yada.
If and when the contract(s) come, this stock should move in multiples by the day if not by the hour at first. If the news is a little weak or unclear, the market will retrace quicker. If the value of the contract(s) are revealed and are anything like Sterling hypothesized, then there could be a 10 bagger in less than a week without much retracement in price. Then there will be the OBV like in that Triple Bottom chart posted below where the OBV curved up in the 2 months on the right side of the chart.
Yes, the key word IF is used four times in the paragraph above. And it only has three sentences. So this post don't mean nothing. Not yet anyway. LOL
Up 62% today: Congratulations
on an excellent day. Anyone know why? Maybe we will soon know why.
Somewhere some know everything about a company. And they have a stock brokerage. LOL
I'm feeling a bit greedy,
please help me. Time for some intervention!!
Having a nice day Green Globe?
I should say so!
blazer- you better watch out!
I bought some recently, and so the market can't be far behind.
I-Box looks great now,
it fits the corporate culture. I'll call the company today to get a little general information.
OM- Good analogy except as to share price,
where PDO has 3.74M O/S compared to 57M = 1 to 15. Otherwise, the comparison does raise one's eyebrows. I might add that PDO is
relying on lower risk EOR whereas NCEY is in a somewhat higher cost/risk business of drilling new wells.
I prefer alternative energy in the longer term, but this truly is a nice company for now.
Sweed and PSU- thanks for the posts
the information and opinions make supreme sense to me. So does cellulosic ethanol.
The archer shot me in the back, Mick-
but the ECCI Sagittarius trend is looking up. It started today without news of a contract or two. When the bullseye is hit with the next press release, astro will be irrelevant. It will be all about the market discounting the value of the contract(s) like sterling did here a week or two ago in his post- before he got jumped.
Until then, it makes no sense to huff and puff. I like to keep my head down and go slow. That way no one gets hurt on my account and there's nobody to blame. (I have my cheap shares now just in case.) Good luck, folks. This company can do some real good for Texas and for its shareholders if & when there's a contract announced.
Free Willie!
This story needs a star to lead it again. With the ancillary business sold to pay off the debt and the financiers, we are back to "picking and grinning". Sing us a song, Willie.
This must be a slow growth company,
because I do not see the BIG STORY potential here. Slow and sure is something that I like.
This stock is a favorite,
reading the SEC filings is an eye opener as to how hard it is to start a serious new business. The financing is the tallest hurdle!
But no dilution lately.
This is as good as any reason:
Ecoloclean Industries Inc. was born on 12/15/2003 in Texas:
By amendment of articles of incorporation concurrent with name change to Ecoloclean Industries, Inc. Effective date=12-15-03
Sure thing, PSU
Green is no longer a crusade thing, it is becoming more of a necessity. But once we find a green alternative without too much of a down side like ethanol, then the challenge is still to find a company with a practical business plan, demand, no stock dilution and attractive share structure. THAT is a hand full of work and DD.
Now that is educational!
Thank you for the list of sectors with certifications possible.
CR
PSU-90: I try to watch them all,
the green companies, especially the alternative fuel companies in these times of painful fuel prices. But the "solutions" are not as easy as they seem at first blush. I really like the business end of Pure Biofuels and the initial idea of using Palm Oil from Peru to supplement energy resources. But the Rain Forests in Peru are impacted by Palm Oil expansion down there in ways we do not imagine:
http://www.wrm.org.uy/bulletin/109/Peru.html
We all know how there are objections to making ethanol out of food grains or maybe even sugar. So the process of green stock picking is formidable.
GGLB should expand its scope
beyond travel/hotels to include other appropriate sectors. It would be Green Marketing and good business sense.
The last couple of days have been
looking good on the chart:
http://finance.yahoo.com/q/bc?s=PBOF.OB&t=5d
I guess that you are right there,
use 'em or lose 'em.
d0lphin- I wonder if ECCI is focused
on long term positioning of the E-C WaterPure Units where they can be used locally for years, not months like after a flood. Those units must be hard & expensive to move around. Didn't they find that out going to England with them? But no matter what, ECCI does need to get some units hired out somewhere and soon. If they really do work well, that is.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=29985675
I like this part
of the March 27, 2008 ECCI Press Release:
=The gas industry in partnership with communities and regulatory agencies has become more aggressive about testing and employing measures to conserve and recycle water. Additionally, the ongoing drought over the past few years has made water conservation essential to the health of the communities and industry. “Industry and agencies are working hand-in-hand to find the most effective methods to protect and preserve our natural resources. Clearly, our technology helps reach optimal recycling levels for our most precious resource, water. We are very proud of our team that worked tirelessly to deliver the best possible products and services to our communities and customers. This is an exciting and important opportunity that will make a difference for our community, the environment, our customers, and our company,” added, Royis Ward.=
IF ECCI'S TECHNOLOGY IS THE BEST OF BREED, THEN IT WILL DO GOOD THINGS FOR THE EARTH IN TEXAS AND GREAT THINGS FOR SHAREHOLDERS. WIN/WIN! KEEP 06/17/08 IN MIND FOR SOME RESOLUTION OF THE PERPLEXION THE HAS BEEN DOMINATE HERE FOR ABOUT A WEEK NOW.
Hey stressfree,
just found the board so I haven't read it much at all to know what you all have found. But the chart is most interesting, especially the volume indicators for the last few weeks. Price has not moved much either. I have been looking for a green chart with just this picture.
Not to worry, AMA
think of me as "Crusader Rabbit" ;))
Peas in a pod,
I can fit in here with this kind of a company.
My DD is almost complete. But the authorized number of shares bother me.
I support ECCI's business,
we need more like it. Real companies with "green" contributions to the economy. Our children can benefit from this company and others like it. Count me in.
"Evaluating Sites for First Municipal Solid Waste to Ethanol Plant"
We could use some news on this subject. So far everything seems hypothetical.
This stock is puzzling,
and I wonder what the company management is up to now.
Down 22%- bad day on low volume
35,200 shares with average daily volume of about 44,000.
The two year chart looks terrible...maybe there has been a double bottom test of the May low (0.10) that was made on volume of about 340,000 shares. Today's pps of .085 is a new 52 week low.
Shake time.
I wonder if there has been a failure to obtain the 25 million dollar financing mentioned in the 05/15/08 SEC filing:
"... Plan of Operations
"We plan to commercialize our proprietary equipment system for biodiesel production on an industrial scale and to become one of the leading providers of biodiesel in the United States and elsewhere. We expect to execute our business plan by generating revenues from multiple sources: 1) by building and operating our own STT ® biodiesel Production Units; 2) licensing our STT ® Reactor-based technology to others which may require one of our production units to be in operation, and 3) in the longer term, by providing technology and investing in businesses that will develop or use our STT ® Reactor-based technology for production of biofuels and other products.
We have selected a 3.8 acre site at the Port of Wilmington in North Carolina as our flagship biodiesel production plant, the Wilmington Plant. We will lease the site from the Wilmington Port Authority. We selected the Wilmington Plant site because of its Mid-Atlantic location, its direct access to a deep water port as well as to a railroad system, and its proximity to the east coast market and the biodiesel market in Europe. We have recently obtained all of the permits and other governmental approvals necessary for us to begin construction of the Wilmington Plant.
The Wilmington Plant will be comprised of our STT ® Production Units, pipelines to and from storage tanks, and an administrative and operations building. We have built four STT ® Reactors, each with approximately 13 Mgpy capacity for use in our Wilmington STT ® Production Units and built four additional STT ® Reactor units to be used for a second plant, as back-up reactors to the Wilmington Plant or for sale to future customers. The initial capacity of the Wilmington Plant will be approximately 33 to 50 Mgpy of biodiesel production. We have the flexibility of constructing a second plant adjacent to the initial Wilmington Plant that may double our capacity to between 66 and 100 Mgpy of biodiesel production. We expect to employ approximately 20 persons, whether hired locally or outsourced, in connection with the 24 hour operations of the Wilmington Plant.
To date, we have accomplished the development and production of our STT ® Reactor internally and the development of the STT ® Production Unit by outsourcing to a professional engineering firm and a manufacturer of engineered packaged systems. Our engineering partner is R.C. Costello & Assoc. Inc. of Redondo Beach, California. This firm provides engineering design and improvements for chemical plants, natural gas plants and refineries, with an emphasis on process intensification. The firm has 11 years’ experience in reaction engineering, distillation and process safety.
Our manufacturing partner is Certified Technical Services L.P. of Pasadena, Texas. This firm has been a heavy industrial contractor and manufacturer of engineered packaged systems for 20 years. It is currently constructing the first STT ® Production Unit in modular form for delivery to the Wilmington Plant site.
We have also entered into a letter agreement with the Vopak Terminal Wilmington, Inc. for the use of four bulk storage tanks and the handling of through put by Vopak at its liquid storage tank terminal adjacent to the Wilmington Plant site. We will pay Vopak variable facility and service charges. We expect to finalize a Terminal Agreement shortly which will be for an initial term of ten years subject to automatic five year renewal options. We expect that the base annual occupancy cost for the Wilmington Plant will be approximately $2,750,000. We incurred $645,000 in costs related to the Vopak agreement during the three months ended March 31, 2008.
We plan to use diversified feedstock in our plants. For sales, marketing and distribution, we have engaged ECO Energy, a privately held Tennessee corporation that provides biodiesel marketing capability across North America. ECO Energy is a fully integrated marketing company supported by an experienced sales force, a knowledgeable logistics and scheduling department, customer service, and an online computer system that we will be able to access to streamline all necessary correspondence for daily shipments and transportation transactions. We have engaged this marketing company to handle the sales and transportation logistics of our biodiesel production. ECO Energy has committed to purchasing all of the biodiesel produced at our North Carolina facility based on prices negotiated by ECO Energy and accepted by us.
We anticipate that we will execute our business strategy with the following actions:
•
hire additional manufacturing, production plant operations, sales, marketing and business development personnel;
•
construct at least one company-owned production plant equipped with STT ® Production Units; and
•
enter into discussion with parties interested in licensing the STT ® Production Units for both domestic and international biodiesel production. We are developing the Wilmington Plant which will employ our STT ® Production Units. The development of the Wilmington Plant will require significant expenditures on equipment and materials and we have used most of the proceeds of our January 2007 private placement in connection with the plant development. As feedstock and biodiesel prices change or as the demand for superior biodiesel production technology increases, we may determine that it is in our best interest to sell or license our STT ® Production Units in lieu of building other plants. We believe that our STT ® Production Unit technologies will provide us with price, efficiency and safety advantages when compared to other persons developing conventional biodiesel plants. In the execution of our business plan, we anticipate that we will increase our number of employees in the next 12 months to approximately 35 employees if we do not outsource the operation of our plant.
We are actively pursuing approximately $25 million of net additional capital for the following uses:
•
completing construction of the Wilmington plant (approximately $17 million);
•
funding the purchases of raw materials and the start-up of plant operations (approximately $3.5 million); and
•
supporting corporate operations and overhead through June 30, 2009 (approximately $4.5 million).
If we do not raise the additional capital, we believe that we can satisfy our cash requirements for the next four months and have begun reducing our operating expenditures through employee headcount and salary reductions, a scale back in corporate operating expenditures as well as deferring the payment of previously ordered equipment for our STT ® Production Units. ..."
I'm watching volume this week/eom
Finally, 10Q business plan:
Plan of Operations
We plan to commercialize our proprietary equipment system for biodiesel production on an industrial scale and to become one of the leading providers of biodiesel in the United States and elsewhere. We expect to execute our business plan by generating revenues from multiple sources: 1) by building and operating our own STT ® biodiesel Production Units; 2) licensing our STT ® Reactor-based technology to others which may require one of our production units to be in operation, and 3) in the longer term, by providing technology and investing in businesses that will develop or use our STT ® Reactor-based technology for production of biofuels and other products.
We have selected a 3.8 acre site at the Port of Wilmington in North Carolina as our flagship biodiesel production plant, the Wilmington Plant. We will lease the site from the Wilmington Port Authority. We selected the Wilmington Plant site because of its Mid-Atlantic location, its direct access to a deep water port as well as to a railroad system, and its proximity to the east coast market and the biodiesel market in Europe. We have recently obtained all of the permits and other governmental approvals necessary for us to begin construction of the Wilmington Plant.
The Wilmington Plant will be comprised of our STT ® Production Units, pipelines to and from storage tanks, and an administrative and operations building. We have built four STT ® Reactors, each with approximately 13 Mgpy capacity for use in our Wilmington STT ® Production Units and built four additional STT ® Reactor units to be used for a second plant, as back-up reactors to the Wilmington Plant or for sale to future customers. The initial capacity of the Wilmington Plant will be approximately 33 to 50 Mgpy of biodiesel production. We have the flexibility of constructing a second plant adjacent to the initial Wilmington Plant that may double our capacity to between 66 and 100 Mgpy of biodiesel production. We expect to employ approximately 20 persons, whether hired locally or outsourced, in connection with the 24 hour operations of the Wilmington Plant.
To date, we have accomplished the development and production of our STT ® Reactor internally and the development of the STT ® Production Unit by outsourcing to a professional engineering firm and a manufacturer of engineered packaged systems. Our engineering partner is R.C. Costello & Assoc. Inc. of Redondo Beach, California. This firm provides engineering design and improvements for chemical plants, natural gas plants and refineries, with an emphasis on process intensification. The firm has 11 years’ experience in reaction engineering, distillation and process safety.
Our manufacturing partner is Certified Technical Services L.P. of Pasadena, Texas. This firm has been a heavy industrial contractor and manufacturer of engineered packaged systems for 20 years. It is currently constructing the first STT ® Production Unit in modular form for delivery to the Wilmington Plant site.
We have also entered into a letter agreement with the Vopak Terminal Wilmington, Inc. for the use of four bulk storage tanks and the handling of through put by Vopak at its liquid storage tank terminal adjacent to the Wilmington Plant site. We will pay Vopak variable facility and service charges. We expect to finalize a Terminal Agreement shortly which will be for an initial term of ten years subject to automatic five year renewal options. We expect that the base annual occupancy cost for the Wilmington Plant will be approximately $2,750,000. We incurred $645,000 in costs related to the Vopak agreement during the three months ended March 31, 2008.
We plan to use diversified feedstock in our plants. For sales, marketing and distribution, we have engaged ECO Energy, a privately held Tennessee corporation that provides biodiesel marketing capability across North America. ECO Energy is a fully integrated marketing company supported by an experienced sales force, a knowledgeable logistics and scheduling department, customer service, and an online computer system that we will be able to access to streamline all necessary correspondence for daily shipments and transportation transactions. We have engaged this marketing company to handle the sales and transportation logistics of our biodiesel production. ECO Energy has committed to purchasing all of the biodiesel produced at our North Carolina facility based on prices negotiated by ECO Energy and accepted by us.
13
Table of Contents
We anticipate that we will execute our business strategy with the following actions:
•
hire additional manufacturing, production plant operations, sales, marketing and business development personnel;
•
construct at least one company-owned production plant equipped with STT ® Production Units; and
•
enter into discussion with parties interested in licensing the STT ® Production Units for both domestic and international biodiesel production.
We are developing the Wilmington Plant which will employ our STT ® Production Units. The development of the Wilmington Plant will require significant expenditures on equipment and materials and we have used most of the proceeds of our January 2007 private placement in connection with the plant development. As feedstock and biodiesel prices change or as the demand for superior biodiesel production technology increases, we may determine that it is in our best interest to sell or license our STT ® Production Units in lieu of building other plants. We believe that our STT ® Production Unit technologies will provide us with price, efficiency and safety advantages when compared to other persons developing conventional biodiesel plants. In the execution of our business plan, we anticipate that we will increase our number of employees in the next 12 months to approximately 35 employees if we do not outsource the operation of our plant.
We are actively pursuing approximately $25 million of net additional capital for the following uses:
•
completing construction of the Wilmington plant (approximately $17 million);
•
funding the purchases of raw materials and the start-up of plant operations (approximately $3.5 million); and
•
supporting corporate operations and overhead through June 30, 2009 (approximately $4.5 million).
If we do not raise the additional capital, we believe that we can satisfy our cash requirements for the next four months and have begun reducing our operating expenditures through employee headcount and salary reductions, a scale back in corporate operating expenditures as well as deferring the payment of previously ordered equipment for our STT ® Production Units.
Share structure looks favorable
to investors: (from Yahoo)
Shares Outstanding: 52.65M
Float: 30.15M
As to the Wilmington, NC plant,
I wonder what the prime feedstock will be for the processing units.
Will it be domestic or imported? The answer to that will have an effect on pricing of the biofuel product. Also, I would really like to know if the feedstock will be from the human food chain or not.