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I think I posted it over a week end, it added to my Bullishness on the stock!!!!! Good reminder for others though that something is indeed up here based on that news. (sadly, what ever is up, it is not CYTR shares yet, LOL)
I am way too deep in this one, in for the long haul, as I think they have some block buster drugs in the pieline based on the study reports the last 12-18 months, and the market cap is down to 1/4 to 1/2 of what it was most of the last 2 years becuase they raised a little cash and sold an extra 40%% in new shares recently, and they have as much cash I think as the market cap for now, so I see it as way over sold here (alas the current market does not it yet). Been in this one since early 2009 bottom.
Today's low hit .20 earlier according to Fidelity.
Yes indeed, the Phoenix rises!
What I can't figure out, is if Questus is the real McCoy, why would they mess with merging with GSRE, unless they want to merge with a near shell public stock, just after it raised cash, so Questus can become public and raise cash (or sell itself later on down the road to the public at a real nice premium)?
Rumor (DD at Texas RRC by others) is that Questus is actually doing work at Questus's expense to get EGOH and EGOH oil wells back on line and back on the map.
Question I have, is what is Questus (and its shareholders) getting out of the GSRE merger deal if it happens.
Not long ago, EGOH shareholders were wondering if Questus even existed as they had signed a deal with EGOH to bring closed wells back on line that EGOH controlled the leases on, but EGOH was broke. Now it looks like Questus has the ball rolling at solving the EGOH problems at the Texas RRC to get those wells inspected, and fines paid to get the wells back on line.
It may be just about time to buy this one. Been watching it for almost a year now. Last week a director bought 30,000 shares at .72, to raise his stake to 1.2 million shares. Also news of an new director just added with serious credentials.
Gerry, >+10% stock holder and one of the new directors, told me 6-7 months ago there is no CO2 or H2S, HS, gas or corrosion problem in the BP#1 well. He said they ordered the expensive pipe, tubing, to be sure there would not be a problem, he said they took every extreme precaution they could, spared no expense on this first well, to ensure there were no nasty surpises. Too much is riding on the first well to take BP style short cuts, LOL.
I put in the request to get the APWR ticker here fixed. Should be working soon.
One thing I do not get is what do they expect to do with just $900,000 from selling 9 billion new shares at .0001/share. Looking over that PDF, it looks like they need a lot more cash than .9 million to execute a fraction of their stated goals, unless this IS just scam to line their own pockets. Or maybe they plan to restructure the stock after the merger (R/S) and then sell more shares at higher prices once they wipe out most of the old shares here?
OTC is showing caveat emptor, and will not display quotes, or even sale data. Fidelity is showing total volume, last price, high and low, but no sale data, no chart. Does anyone know a site that is showing today's price and volume history?
Also Fidelity shows me about 1.5 million shares traded, with about 2.5 million short before trade resumed today. Most of the volume may have been short covering, to get out after being stuck short with trade halted for so long, months IIRC.
I want to buy some at the bottom, but it may not be there yet. If shorts are panic buying to cover, it may fall lower once they have covered.
Sanosurfer, do you have time or the interest in updating the company's intro page? It is getting a bit out dated, share structure, ticker, OS, AS, market cap, and the Hedrin is no longer the main product, but just a 15% (IIRC) interest now.
With the latest news, now might be a good time to update it some.
Thanks!
Sept 21, 8-K filed with SEC:
You would think some one would have posted that, and fixed the tickers a month ago. I guess I have been too busy with my real job to notice. Have you bought or traded it?
Well the dreams of newbies here got shattered last week as COIN dropped under the .05 support line. Another 40% loss for longs. Now on to testing three cents for support. My guess is .01 is not far off.
Next stop the twilight zone.
http://news.ino.com/headlines/?newsid=6898086767786711
Spin overtaking facts in Marcellus Shale debate
By KEVIN BEGOS
Associated Press
(AP:PITTSBURGH) Some insist Marcellus Shale natural gas is a huge economic boom for America, while others are certain it's an environmental catastrophe.
Gas drilling from the Marcellus pollutes groundwater, or it never pollutes groundwater. It's cleaner than coal or oil, except that it's dirty. It provides a boost to hard-hit rural economies; but then again, maybe it doesn't.
The one point of agreement? Scientists say advocates on both sides increasingly spin every shred of research to fit their own views, and ignore the bigger picture.
Consider Duke University biologist Rob Jackson, who has degrees in chemical engineering, ecology, and statistics, and worked for Dow Chemical Co. for four years. He co-authored a report that went viral in May, showing that residential water wells near drilling operations in Pennsylvania's Marcellus Shale had disturbingly high rates of methane contamination.
The gas drilling industry insists that the process called hydraulic fracturing, or fracking, does not contaminate aquifers or water wells. Critics of the industry, who believe it does, rushed to embrace the Duke study.
"Our data has been used primarily by people opposed to fracking," Jackson told The Associated Press. "But that's not how I see our data. I think our data provides a mixed story."
The study of 60 wells showed high concentrations of methane in 85 percent of those that were within 1,000 yards of a drilling site. In a finding that pleased the industry, the Duke researchers did not find any evidence of fracking chemicals in the well water.
Jackson acknowledged that the Duke study didn't answer all the questions about the issue and that it needs follow-up. But that's simply the way science works, he noted.
But the public debate is turning away from reason.
At a recent drilling industry conference, Josh Fox, director of the anti-drilling documentary "Gasland," suggested the issue was the very survival of civilization.
"What I'm witnessing in Pennsylvania is a systematic destruction of the state," Fox said at a news conference. "What we're doing is contemplating taking our civilization off of an insane cliff."
Fox didn't mention that Pennsylvania had up to 325,000 oil and gas wells before gas-fracking even started, according to the Pa. Department of Environmental Protection. Some date back to 1859, and DEP says thousands of those old wells were probably improperly plugged and that no one even knows where many of them are. The figures don't include abandoned coal mines, which can also leak gas.
All can contaminate drinking water.
Some in the industry have responded with their own exaggerations and florid prose.
At the same conference Chesapeake Energy Corp. CEO Aubrey McClendon called critics of shale gas drilling fear-mongering extremists who want Americans to live in a world where "it's cold, it's dark and we're all hungry."
Other executives have claimed that there's never been a single reported case of fracking contaminating water supplies.
And DEP Secretary Michael Krancer criticized the Duke researchers for an editorial in which they said they "would like to see shale gas become largely unnecessary" in the future. Krancer said that was evidence of their bias against gas drilling, an opposition that is "not based on science or fact."
Kathryn Klaber, president of the gas-industry group Marcellus Shale Coalition, said the role of an industry critic in the Duke report "raises a host of questions regarding academic veracity."
Yet Terry Engelder, a Penn State University geologist who was one of the first to claim there are huge gas reserves in the Marcellus, found the Duke results "neither surprising or new."
"It could be cherry-picked depending on which camp you come from," said Engleder, who has degrees from Penn State, Yale and Texas A&M, and has worked with companies such as Saudi Aramaco and Petrobras.
Jackson said he's disappointed that Pa. DEP officials were "downright hostile" to their paper from the beginning. Duke researchers would like to work with the gas industry and DEP on Marcellus issues, he said.
Engelder said scientists are frustrated by how complex issues get oversimplified.
"So we're back to this era that often scientific data is boiled down to a punch line that can easily be taken out of context," he said.
Engelder knows firsthand.
Drilling foes have questioned him for predicting that the Marcellus could contain hundreds of trillions of cubic feet of recoverable gas. But the record shows his comments weren't that simple.
In early 2008 Engelder and another geologist first estimated that the region contained about 50 trillion feet of recoverable gas. Then, after getting new data from actual wells, they upped that to 363 trillion. But not without a warning.
"Geologists are still trying to size this play," Engelder said in 2008. "We don't really know how much gas is there and how much can be recovered."
There are signs the messy public policy debate is causing people to question Penn State and Duke _ two institutions with distinguished reputations.
Jackson said he found it was beneficial that his team of researchers was from out of state.
"There were many homeowners who were more willing to work with us because we were not from Pennsylvania," he said.
That perception may have come because Penn State has accepted huge donations from people with ties to the gas industry.
Some independent experts said Penn State hasn't always handled that situation well.
This year, geologists at Penn State and the University of Wyoming released an industry-funded report on Marcellus Shale projections and economic impacts. It contained a disclaimer that none of the scientists or institutions "makes any warranty or representation, express or implied, with respect to the accuracy, completeness or usefulness of the information contained in the report."
"I'm just shocked by that," said Mark Frankel, who follows science and ethics issues at the American Association for the Advancement for Science. "That sends a very mixed message that doesn't help with our ability to communicate. And it raises the question: If they disclaim all of those things what are they saying about the science that is done by members of their faculty?
Some believe the entire tone on the debate needs to change.
"I think what's happened with many of these controversies is that the issues have been framed as, is there a problem or not?" said Baruch Fischhoff, a professor at Pittsburgh's Carnegie Mellon University who studies risk and decision-making. "As opposed to, what kind of gambles do we want to take?"
Fischhoff notes that the stakes are high _ a tremendous amount of money, environmental issues, and national energy issues. But he believes there are solutions to the controversial issues.
"There's a deal to be cut that would benefit all sides, and we can't reach it because the distrust is so deep. That can't be good," Fischhoff said.
For now, there are no signs of things getting easier for scientists or the public, Frankel said.
"I think it's a new world for scientists," he said. "They're going to have to answerable to a whole bunch of people they don't know, who are interested in other things. You just sort of lose control in ways that have not been the case before, as a scientist."
I posted news a few months ago here, that one of the majors was going put in a huge plant in Miss soon (it was PR by Exxon-Mobil or Shell or? about 12 weeks ago or so) that will convert NG into higher molecular weight hydrocarbons (think synthetic oil).
And Shell announced plans last week to build a NG to synfuel plant (like the monster one now running in Quatar) that will make synthetic liquid fuels in La.
Hmm, not 100% sure, but that looks like the same news we got about 2 weeks (or a little less) ago. The first run on that news was accompanied by an SEC Form 8-K, IIRC. But still, if I am right, a re-release of that news may have caught more eyes. Thanks for the post.
Sorry, ECO is Short (LOL) for Ecomike. I was just saying I got lucky and got some of the 10 cent shares Friday, to add to my average cost of 18 cent shares. Very, very good chance 10 cents is, was, ( and it always has been so far an 11 year low repeadly) the bottom here.
Since it held last week, on such a nasty down week, it still looks like a very strong support bottom. So I started adding there while I could. I would of added a lot more at 10 cents, if they were available and if I had the cash Friday. Next week may be a good quarter end, mutual fund and equity fund, and hedge fund window dressing rally. Then the first week of Oct, my guess is a look out below market wide sell off one more time, as they will claim a sell off in fear of pending earnings reports being bad, until AA starts off the earnings report season a week later. Then I hope we get another rally middle of Oct into OPEX, third Friday of Oct, as investors realize the sky has not yet fallen, unless Europe and the Euro and Greece blow up.
I get the impression from talks with management that they intend to keep the BP#1 well for cash flow (profits) to be used to secure loans to go drill shallow wells next, some possibly for oil in La. And hold the Miss leases till NG prices go back and up, and JV partners try outbidding for JV rights. Keep in mind that it makes no sense to drill more ultra deep wells in La, until a new delivery pipeline is built and installed, as just a partial capacity flow from the BP#1 well will max out the pipelines flow capacity!
Gerry told me 6 months ago, the plan was to get BP#1 flowing, collect $500,000/month in revenue from it FIRST, and then start drilling some shallow wells for oil and condensates and NG in La with JV's there next. Every thing I have heard was that selling any assets was not in the plan (until this weeks post here about non core assets possibly being sold to raise the cash)
They need to perforate the existing well casing (and frack it vertically, 2000 foot vertical frack job at the same time) according to geopressure. And I guess install the production tubing (?) after the perf abd frack job, and then install the delivery pipe. And they need to pay old bills for pipe, etc, they pre-ordered around Feb, and expected to take delivery on this summer that they need for the well, and need to pay past due bills to suppliers for work and materials from earlier this year.
Where do you see it trading? What symbol?
No it is not just you, it is just you and me! LOL
I got my 10 cent shares shortly after the open! ECO is buying TTEG!!!!!
I am still accumulating this puppy for the next ride back to nearly $1/share in the next 12-24 months. This stock still has a tiny OS count, barely 40 million IIRC, and has been in the R&D pre-production stage for 10 years, with out blowing up the OS count, and has always held a bottom at 10 cents. They are very close to multiple deals swinging into production and revenue mode.
They had an outside firm value some of the La assets (proven reserves) early this year, and the PR put a market value on them of about 45 million dollars as they existed (no active wells) and that based on $80 oil, and $3.70 NG, IIRC. When they sold the La wells about 20 months ago, they only sold the rights to a limited depth range, and held the lease rights to everything above and below that depth.
With today's share count (before the current private offer of 66 million new shares), of about 80 million shares, the La assets alone were valued at about 40-50 cents per share of MNLU, but right now they need cash to complete the BP#1 well, and to pay past due bills for materials they ordered for completing the well and some of the last bills for the last work on the BP#1 well I guess. That comes to about 10-15 million dollars they need, to complete the Miss core asset's first well, and start collecting about $500,000/ month in cash flow from the BP#1 well, at a low flow rate. The BP well should be able to flow at a much higher flow, but that will take a new, expanded larger pipeline.
None core assets, may be a floating management decision target. May be any part of the La rights. Call IR, Mike or Gerry, if you want an up to date idea of what they are thinking, and trying.
Also, the newest director, is Gerry, and when he accepted the job, we found out (via SEC Form 4 filed) that he owns over 10% of the MNLU shares!!! And he sold none since signing on as a new director about 4 months ago! A very good sign!
LOL, I was accused of heresy for saying that here the day the R/S went through. I am waiting for the next quarterly, when they finally fess up to how cheap they sold the new back door shares in the last private offerings.
I just went over some of my charts, and I spotted a large number of divergences in the A/D and MACD of most of the major indexes and several stocks including TTEG that indicated people are buying, accumulating more than selling now, which is a good sign that we may be near a bottom. I was looking at 1 day, 1 week and 1 month time lines and they were all showing bullish divergences which are early signs of bottom being set, or about to be set! I think TTEG bottomed already, looking at the charts.
And it looks like someone was buying real heavy here today early on for sure, so yes it looks like someone may have had early warning of good news pending here!!
And as best as I could tell, over 90% of the TTEG shares traded today were buys at the ask. I think the MM's walked the ask down to trip stop loss orders, as they suddenly needed a boat load of shares to fill the earlier huge orders!
Huge buying volume at the ask, raising the ask like it did this morning while the markets were sending people to jump out windows, and then a 40% drop in the price, makes no sense except for MM's walking it back down.
I just went over some of my charts, and I spotted a large number of divergences in the A/D and MACD of most of the major indexes and several stocks including MNLU that indicated people are buying, accumulating more than selling now, which is a good sign that we may be near a bottom. I was looking at 1 day, 1 week and 1 month time lines and they were all showing bullish divergences which are early signs of bottom being set, or about to be set! I think MNLU bottomed already at .09, looking at the charts.
No idea what it means, ask your broker. I have no problem buying it at Fidelity, but I did sign a "danger will robinson" disclosure 3 years ago before I could buy and trade penny stocks with my Fidelity IRA account. The $700 certificate deal sounds like BS to me
Capex of the BDI made a new 52 high today, I think. Up nearly 10% today! But PRGN fell under $1, new 52 week low, so some divergence in the BDI stocks.
Cape ship rate in the BDI way up 10% today! Cape rate is nearly double the other 2 rates, Panamax was down some. We are definetly getting conflicting signals world wide!
From my prior converstions with Gerry this year, the long lead time stuff like the pipe was ordered way back in feb, or thereabouts. I suspect that is part of what the unpaid bills are about, and for!!!
Campi? 3rd quarter profit?
If that is right, the MM's may have been caught short and need shares, so they will try to cheat us by walking the price down to get cheap shares to balance their books, and they may be easy in this market. But they must be careful not to break the stock/investors and cause a selling avalanche.
I just placed an initial order at 10 cents to add here!!!
Just curious, has anyone here been able to buy any cheap shares today??????
Looking at the 1 minute candle chart, it looks like 95% of the volume was between 12.5 and 14.5 cents, about 1/2 buying at first, 1/2 selling, so the party may be over here, MM's may have covered already?
I prefer milk my self, LOL.
Brian D,
Actually there was news there. news was they are just doing the dilution equity offer, but still have all avenues of raising cash on full court press, including selling no core assets!, JV, loans, etc. A week ago we had the impression it was sell shares, 66 million, and move on, but this PR sounds like they may finally sell something other than shares? A mixed bag, depending on the deal, but it might mean they will sell a proven reserve in La, and close the share offer early, with less shares sold? All speculation, but that PR did not say a private share sale only to get the bus moving again!
Perhaps the Japan investors made an offer for an asset? Also, it sounded like the flood damage was and maybe still is holding things up in this new PR, which is not what I was told 4-6 weeks ago! If they are waiting on the county to fix the road, they are still in no real desperate hurry to raise the cash, YET?
Wow, I was trying to move some cash to jump on the 10 cent shares, and already back at 13.5/share! 1.5 million shares sold today! Something is up! Is this going on market wide?
Now it looks like panic selling all of a sudden. Very strange. I think IIRC that 10 cents is a 10 year low, that has held every year or two, or three when it got to 10 cents.
Last time I saw action like this was a few months ago, when some one bought 100,000 at .18 on low volume, and MM's immediately walked it down for days down to 10 cents to cover the shares they sold at .18, and no one would sell, so they kept walking it down to cover the shares they needed in a panic!!!! A month later it was back at .18!!!!
This is not good. Low volume, and price at a new 52 low, .07 is gone, so this could go a lot lower now!
More news on sales, revenue forcasts....
http://ih.advfn.com/p.php?pid=nmona&article=49256790&symbol=CBAK
China BAK Battery, Inc. ("China BAK", the "Company", or "we") (NASDAQ: CBAK), a leading global manufacturer of lithium-based battery cells, today announced its business outlook for certain key areas for its fiscal year ended September 30, 2012.
Management estimates the Company's wholly-owned subsidiary, BAK International (Tianjin) Limited ("BAK Tianjin"), which produces high-power lithium battery cells, to account for approximately 15% of fiscal year 2012 revenue, up from approximately 5% in fiscal year 2011, while battery cell production for cell phones is expected to decrease proportionally while remaining the Company's core business. In particular, China BAK expects increased sales of battery cells for electric bicycles and electric buses to take advantage of the increasing markets for these vehicles in China. In line with this expectation, the Company expects to install at least one additional production line for electric vehicle (EV) batteries during fiscal year 2012. In fiscal year 2012, the Company expects BAK Tianjin to have average monthly output of approximately 12,500 units, up from average monthly output of approximately 6,000 units in fiscal year 2011, with further increases expected for fiscal years 2013 and 2014 to approximately 33,000 and 91,000 units monthly, respectively. The Company also plans to develop mobile phone batteries under its brand name, which is expected to be launched in phases during fiscal years 2012 and 2013. In addition, although the Company is aware that informal information was recently provided by a member of the Company's management in response to a question as to expected gross profit margin for fiscal year 2012, the Company has determined that additional time is needed before it will be in a position to confirm its outlook in this regard.
In connection with its ongoing and planned future capital expenditures and research and development, China BAK is discussing financing alternatives with certain potential strategic partners to raise capital up to $50 million by the end of calendar year 2011. The form and terms of this potential financing is under discussion. The Company's capital expenditure budget for fiscal year 2011 was approximately $35 million and the budget for fiscal year 2012 is being determined.
"Since inception, China BAK has gained a strong market reputation through delivery of high quality products utilizing its advanced manufacturing capabilities. We plan to leverage our market position to establish our own distribution channel. We also continue to strive to implement cost control measures to achieve profitability," commented Mr. Marcus Cui, CFO of China BAK.
"We are encouraged by the rapid growth in the EV market and plan to accelerate production of our high-power lithium EV cells at BAK Tianjin. The PRC government is promoting use of electric vehicles, given the environmental and energy benefits. Given the environmental benefits, we believe lithium EV batteries will enjoy a competitive edge over lead-based EV batteries, presenting an attractive growth opportunity for China BAK. We are committed to focus on the EV industry and capitalize on the expected market growth," added Dr. Huanyu Mao, CTO of China BAK. Dr. Mao further commented, "As we have noted, we do not have specific plans on the form or terms of the contemplated financing to fund our planned capital expansion and R&D activities. An offering of BAK Tianjin equity would only be one possible way that we would attain this goal. We are exploring a range of options in connection with our discussions to gain sufficient financing to expand our EV investments, and will select the one that we believe is in the best interests of our shareholders."
I am hoping it is a bear trap being sprung by shorts, and those that plan to trap the shorts, and lately this has been a pattern. I expect a rally into month end, last few days, then more nasty short selling first week of Oct, until earnings and revenue forecasts start getting released. Then the final direction will depend on earnings and forecasts I think. We are close to tripping the new lower lows wire that could start a massive sell off, but I suspect this is just more hedge fund manipulation. If SP500 falls under 1100, look out below.