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Looks like it was just an update, verrrry long drawn out, detailed update of the share registration for the MNLU shares that AEXP shareholders will get post merger, but it is still a draft of a draft, not yet an official final dated version.
At first, I thought was piggy was right (dilution, selling new shares), that MNLU was about to sell new shares at .55 (apx) a share, but it turned out to be just another legal update dotting I's and crossing T's on the merger shares that AEXP shareholders will get for their AEXP shares post merger.
So now I can tell pigroast that I thought I was wrong, but it turned out I was wrong (LMAO!), so I was right afterall (no dilution).
The Japanese could be one of the banking sources, so don't assume it is buyout. They may want to bank the deal and have rights to buy the NG for LNG export to Japan. I doubt a Japanese company is planning to start running a NG drilling and pipeline operation, but who knows?
I think the NG glut comment is relative to 2002-2008. And it probably means banking loans are harder to secure.
Is everyone asleep at the wheel here tonight? Am I the only one that is reading the new SEC filing?
Edit: Ok, I may have jumped the gun here. At first read it looked like MNLU was about to sell $8 million dollars of new shares at up .55/share, but now on a deeper read, re-read, this looks like an update of the registration for the MNLU shares that will issued to AEXP shareholders during the merger, registering them so they will be tradeable, and not restricted after the merger.
This is the Fidelity Link I am reading from:
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=7732009
Even a broken clock is right twice a day. (the old style clocks)
On the Japan interest, I would be surprised if Japan interests were not interest in MNLU and BV NG. They need LNG sources and delivery capacity badly!!!!!!! They were hurt real bad by the nuclear event earlier this year, and one of the more recent reasons I have been accumulating MNLU and AEXP stock (for over 18 months now), is Japan!!!! LNG in Hawaii goes for 10 times the price it does here in Texas (last time I checked). Japan now has new, similar problems, and there other options for NG are China and Russia!!!! (not the best choice for them!!!).
So the story about Japan interest is not really news to me, just possible confirmation.
Well Pig, you were right (in part) and I was wrong (in part) but a wise man once said, "we will see"!!!!! In the long run I think this is going way higher. In the short run some one got A few cheap shares today, maybe you, maybe the MM, who knows, and I don't really care.
I think part of today's and this weeks sell off here was the market and Washington Debt circus, not MNLU.
But we do have news tonight!!! So it's time to read up, and lets all discuss what the news means. For now I guess the pigroast holiday is delayed.
WE have major news folks! Reading it right now.
No. Why do you ask?
That MACD tells the real story, $3/share coming soon!!!!
I just took the time to read the last SEC filling, which I had skipped, even though I was long (long boring bank quarterlies bore me) at first read it all sounds like great news, but then the losses look like a 400% jump versus prior quarter, and about equal to 12 months ago. so the increased losses plus the Washington mess may have been the trigger. I am down about 90% now on the first share lot from about 18 months ago, thinking about finally giving up on this bunch as this Washington bunch and market sell off might get even nastier. I already got hosed this month on a few other stocks. This punk is not feeling lucky today!
Edit: Book value June 30th 2011 is listed at $1.66/share, but the numbers I see indicate a book value of about $2.10/share, so when this bottoms, it may be a good buy after all. Just depends on how fast things get better or worse.
Any clues as to why this one is, still is getting hammered so bad?
Any bottom targets?
Wasn't so long ago that insiders were buying at $1.21, shortly after the last R/S. I did not expect to see prices this low again, unless we got bad news, but I have not seen news bad enough to cause this drop?
Any bottom, or bounce targets? If so what is it and why?
Hiding from the big bad bears!
Got another email from Scott (he has been arranging occasional conference calls with Byron Elton for the Yahoo CABN board, et, al, for a good while.)
Subject: CABN Conference Call Questions?
Date: Jul 27, 2011 9:31 PM
Byron:
I understand you have been in non-stop meetings. Thank you for taking the time for the conference call. I/we would appreciate it if you could review the below questions and try to address them. Other members may send additional questions. Please add what may be of interest but we don't know to ask...
All Members:
Byron will be presenting the conference call without taking ad-hoc questions, just like the last conference call. Additional, post conference call questions, asked by responding to this email, will be sent to Byron and I will broadcast the answers to the membership.
Enjoy the conference call.
1). Please explain what happened to our attempt to patent a catalyst?
2). Please explain the licensing agreement with the UOS?
3). What does the UOS get in royalties?
4). How long to a partner?
5). How long to the NASDAQ?
6). Explain how the company will fund it's future without stock dilution?
7). Do you expect to sell the license for a fixed dollar amount?
8). How is the testing going and when do you see the catalyst being in production?
9). How do we compete with other alternative energy companies?
10). Where are we in the ultimate goal time-line?
11). What next, after the catalyst?
Yours,
Scott
Next Conference Call
Thursday, July 28Th, 2011, 4:00 PM Pacific Time (7:00 PM ET, 6:00 PM CT, 5:00 PM MT)
All Conference Call Members (CABN):
The phone number/access number information for tomorrows conference call is...
218.339.4600
719782#
Remember, the conference call is scheduled for 4:00PM US Pacific Standard Time. Please adjust to your local time standards.
Next Conference Call
Thursday, July 28Th, 2011, 4:00 PM Pacific Time (7:00 PM ET, 6:00 PM CT, 5:00 PM MT)
I expected good news, etc, and wallstreet manipulation games to drive it up to the old $2 target before the dilution, so they could sell the new shares at $1/share.
FWIW I increased my share count by 50% a short while ago, to average down my $1.20 ish average cost. I will add a lot more if it goes lower, but I suspect this is the bottom. MM's may do an opening bell shake out to steal overnight selling shares and stop losses, drive it to .35, but good luck getting your orders filled. I think this is the bottom, unless great depression III is starting thanks to the idiots in Washington DC.
I will post more later tonight.
I am shocked to see it go this low, but it seems to be a perfect storm.
The latest news says the new shares at selling at .52 (but include warrants with the shares, and the warrants are convertible at .64). If the over allotment is used up it works out to about 44 million new shares, and 44 million warrants, which uses up 88 million in the AS, and takes us to about 80% of the new AS which was 250 million.
.52 x 44 million (less the fees) is going to be about 21 million dollars, divide that by 150 million shares we get an increase in cash per total OS shares of about .14/share. I think existing cash is at about that level as well, so we end up with .30/share (based on 150 million final issued shares) in cash plus the deals and pipe lines as the basis to value the stock, and about 44 million new warrants at .64 hanging over our heads (but if exercised they would add cash).
By the way, no one can convince me that the big boys were not selling this the last week based on insider information (knowing this coming), or at least they stopped buying and or supporting the price, knowing this was coming! SEC! Are you still asleep at the wheel?
So does anyone think we have seen seen the bottom at .40x today, and if not where do you think it will bottom?
We are now testing a two year low. I am holding.
Very strange, now suddenly with no more volume, those 289,000 shares offered at .14 are gone, and ask is back at .18!!!!
But wait, EDIT, RAJA just came back and offered 5000 shares at .14
What a racket! Something is up!
Edit 2: Now they are back, 278,000 shares at .14?
Someone is playing games?
I tried to buy some, and no joy, said to call in for more info, and say buying is blocked. Pink sheets has no quotes and has Caveat Emptor listed, skull and cross bones. But Fidelity charts and quotes shows the stock actively trading. Very odd.
Consolidation is over! Go ABAT!
Just like I said I expected, R/S after the conversion of debt. My guess is they will do a 50:1 or 100:1 R/S. That would take it down to a 4-9 million Outstanding shares, at about $25-$50/share when the price settles down.
What is not clear to me is how much debt they will still be servicing afterwards, and how that and earnings will turn out later. I expect some shares will be dumped for cash by some of the prior debt owners.
Then why is trading today?
Just dawned on me that ERC could be used (like in Iceland where they convert CO2 and water to methanol fuel using geothermal energy), to convert renewable energy like solar and wind into formic acid as a liquid fuel for vehicles run on formic acid fuel cells (hydrogen car economy model), and simultaneously clean up CO2 exhaust from coal fired power plants. A win-win deal!!!
I have been looking at that part backwards on the using solar power to run the reactor!!!
Yes, as I recall the merger contract called for some kind of halt to issuing new shares by either company. If that were not the case, AEXP would have issued shares a long time ago, instead of borrowing cash from MNLU about 6 months ago, to pay some accounting and SEC merger paper work bills related to the merger. That is why I keep saying a delayed merger is good, not bad, as it keeps the share count fixed for now.
The senior secured asset debt is no doubt the way they will go, and it can be converted post merger to shares if needed, but it will not be needed.
China BAK Battery Inc. (NASDAQ GM: CBAK), a leading global manufacturer of lithium-based battery cells, will host a conference call at 8:00 pm Eastern Daylight Time on Tuesday, August 2, 2011, to discuss results for the third quarter of fiscal year 2011.
China BAK's Chief Executive Officer Mr. Xiangqian Li, Chief Financial Officer Mr. Ke Marcus Cui and General Manager of BAK International (Tianjin) Limited Dr. Huanyu Mao will present at the conference call and answer questions.
To participate in the conference call, please dial the following number approximately fifteen minutes prior to the scheduled conference call time: 877-847-0047 or 212-444-0113. International callers should dial (852) 3006-8101. The pass code for the call is 652-045.
If you are unable to participate in the call at this time, a replay will be available on Tuesday, August 2 at 11:00 pm EDT, through Wednesday, August 17, at 11:00 pm EDT. To access the replay, please dial 866-572-7808. International callers should dial (852) 3012-8000 and enter the pass code 652-045.
This conference call will be broadcast live over the Internet and can be accessed by all interested parties on the CBAK website at www.bak.com.cn/. To listen to the live webcast, please go to the CBAK website at least fifteen minutes prior to the start of the call to register, download, and install any necessary audio software. For those unable to participate during the live broadcast, a replay will be available shortly after the call on CBAK's website for one year.
Down the road, if the formic acid fuel cells get some traction, they could be combined with ERC to store solar energy peak power, instead of using batteries, to store day light solar and peak wind power for use later at night, or during low wind conditions.
If they sold new shares at $1 today, would you call that a BAD kind of dilution? I would be delighted myself!
If they sold 100 million shares at .01, yes that would be bad, but as I have said, and as the data shows, there has been no dilution in about 2 years, and insiders have been buying at retail!!!!
A note to everyone. Lets please keep things here civil, before they get out of hand.
If they were not sitting on over $1 billion dollars in natural gas, I would be a little worried here about possible dilution, but debt is more likely, debt that can be paid back very quickly with revenues from the well. The stock will be back up to $5 before they seal any kind of dilution deal (which would happen at a much higher price than we are at today) to expand drilling and pipeline additions, or they will JV the expansion deal, and no dilution is likely while the merger is pending as it would screw up the merger contracts!
Now, would the real Frauds please step forward, or should I say, would the real Muddy Waters please step forward!
LOL (LMAO!!!!)
BY Reuters
— 1:05 AM ET 07/22/2011
By Himank Sharma
BANGALORE, July 22 (Reuters) - Muddy Waters LLC has filed a lawsuit in a U.S. court, alleging a fake press release defamed it and saying an imposter claiming to work for the research firm had tried to blackmail a company for $2 million to withold a damning report.
Hong Kong-based Muddy Waters and its director of research Carson Block have shot to prominence in recent weeks after issuing research reports alleging accounting irregularities against over half-a-dozen Chinese companies listed in North America, driving down their stock prices.
The company takes also short positions on the stocks, making money if share prices fall.
The lawsuit, naming Muddy Waters and Block as plaintiffs and filed with the Los Angeles Superior Court on July 20, alleges that an individual in Hong Kong impersonated himself as an employee of Muddy Waters and issued threats to an unnamed company.
The individual, whose identity is unknown, allegedly blackmailed the company seeking $2 million in exchange for holding back a research report.
Muddy Waters separately claimed that a June 21 press release issued on free news wire service 'BriefingWire.com' was defamatory in nature and was issued with malice.
The press release stated that the U.S. Securities and Exchange Commission had charged Muddy Waters and Block with fraud, and alleged Block was involved in market manipulation schemes.
A spokeswoman at the SEC told Reuters in June that the release was a fake, but would not comment on whether the agency is investigating further or has informed other authorities.
The lawsuit does not identify the defendants. The research firm said it will amend its complaint once it ascertains their identities. BriefingWire.com was not immediately available for comment.
Now, would the real Frauds please step forward, or should I say, would the real Muddy Waters please step forward!
LOL (LMAO!!!!)
BY Reuters
— 1:05 AM ET 07/22/2011
By Himank Sharma
BANGALORE, July 22 (Reuters) - Muddy Waters LLC has filed a lawsuit in a U.S. court, alleging a fake press release defamed it and saying an imposter claiming to work for the research firm had tried to blackmail a company for $2 million to withold a damning report.
Hong Kong-based Muddy Waters and its director of research Carson Block have shot to prominence in recent weeks after issuing research reports alleging accounting irregularities against over half-a-dozen Chinese companies listed in North America, driving down their stock prices.
The company takes also short positions on the stocks, making money if share prices fall.
The lawsuit, naming Muddy Waters and Block as plaintiffs and filed with the Los Angeles Superior Court on July 20, alleges that an individual in Hong Kong impersonated himself as an employee of Muddy Waters and issued threats to an unnamed company.
The individual, whose identity is unknown, allegedly blackmailed the company seeking $2 million in exchange for holding back a research report.
Muddy Waters separately claimed that a June 21 press release issued on free news wire service 'BriefingWire.com' was defamatory in nature and was issued with malice.
The press release stated that the U.S. Securities and Exchange Commission had charged Muddy Waters and Block with fraud, and alleged Block was involved in market manipulation schemes.
A spokeswoman at the SEC told Reuters in June that the release was a fake, but would not comment on whether the agency is investigating further or has informed other authorities.
The lawsuit does not identify the defendants. The research firm said it will amend its complaint once it ascertains their identities. BriefingWire.com was not immediately available for comment.
Now, would the real Frauds please step forward, or should I say, would the real Muddy Waters please step forward!
LOL (LMAO!!!!)
BY Reuters
— 1:05 AM ET 07/22/2011
By Himank Sharma
BANGALORE, July 22 (Reuters) - Muddy Waters LLC has filed a lawsuit in a U.S. court, alleging a fake press release defamed it and saying an imposter claiming to work for the research firm had tried to blackmail a company for $2 million to withold a damning report.
Hong Kong-based Muddy Waters and its director of research Carson Block have shot to prominence in recent weeks after issuing research reports alleging accounting irregularities against over half-a-dozen Chinese companies listed in North America, driving down their stock prices.
The company takes also short positions on the stocks, making money if share prices fall.
The lawsuit, naming Muddy Waters and Block as plaintiffs and filed with the Los Angeles Superior Court on July 20, alleges that an individual in Hong Kong impersonated himself as an employee of Muddy Waters and issued threats to an unnamed company.
The individual, whose identity is unknown, allegedly blackmailed the company seeking $2 million in exchange for holding back a research report.
Muddy Waters separately claimed that a June 21 press release issued on free news wire service 'BriefingWire.com' was defamatory in nature and was issued with malice.
The press release stated that the U.S. Securities and Exchange Commission had charged Muddy Waters and Block with fraud, and alleged Block was involved in market manipulation schemes.
A spokeswoman at the SEC told Reuters in June that the release was a fake, but would not comment on whether the agency is investigating further or has informed other authorities.
The lawsuit does not identify the defendants. The research firm said it will amend its complaint once it ascertains their identities. BriefingWire.com was not immediately available for comment.
I don't think any of them block trades, but if CCME moved to pink sheets from NASDAQ you need to be set up by your broker with special permission to buy penny stocks, at least I had to sign a waver to trade them in my IRA. That may be what someone is referring to? When it was NASDAQ stock is trade-able and marginable if over $5/share. Some brokers do not like to deal with penny stocks.
CCME traded over 22,000 shares today, so it is and has been trading.
Now, would the real Frauds please step forward, or should I say, would the real Muddy Waters please step forward!
LOL (LMAO!!!!)
BY Reuters
— 1:05 AM ET 07/22/2011
By Himank Sharma
BANGALORE, July 22 (Reuters) - Muddy Waters LLC has filed a lawsuit in a U.S. court, alleging a fake press release defamed it and saying an imposter claiming to work for the research firm had tried to blackmail a company for $2 million to withold a damning report.
Hong Kong-based Muddy Waters and its director of research Carson Block have shot to prominence in recent weeks after issuing research reports alleging accounting irregularities against over half-a-dozen Chinese companies listed in North America, driving down their stock prices.
The company takes also short positions on the stocks, making money if share prices fall.
The lawsuit, naming Muddy Waters and Block as plaintiffs and filed with the Los Angeles Superior Court on July 20, alleges that an individual in Hong Kong impersonated himself as an employee of Muddy Waters and issued threats to an unnamed company.
The individual, whose identity is unknown, allegedly blackmailed the company seeking $2 million in exchange for holding back a research report.
Muddy Waters separately claimed that a June 21 press release issued on free news wire service 'BriefingWire.com' was defamatory in nature and was issued with malice.
The press release stated that the U.S. Securities and Exchange Commission had charged Muddy Waters and Block with fraud, and alleged Block was involved in market manipulation schemes.
A spokeswoman at the SEC told Reuters in June that the release was a fake, but would not comment on whether the agency is investigating further or has informed other authorities.
The lawsuit does not identify the defendants. The research firm said it will amend its complaint once it ascertains their identities. BriefingWire.com was not immediately available for comment.
OK, I am tired of the penny anti games and penny stock promos that seem to do nothing here. Time to wake up the world to the gold mine sitting here while we wait for the big news!
http://www.mannvit.com/RenewableEnergyClimate/BiogasandBiofuel/MethanolfromCO2/
See my comments in the comment section at the bottom!
Also, I starting stirring the pot with my old friends at the US DOE!
I still believe Mantra has the best available technology in the field so far.
I disagree (At one time I would have agreed but).
I have no doubt that if I handed Larry a check for 50 million dollars today that Mantra could build a full scale commercial plant for me, today. The reactor design is already completed and will not change for the sake of building a larger capacity system. The size is increased by adding more same sized reactors, not by scaling up the design with a completely new design like many other systems require. It is like buying 100 lead acid batteries, instead of just one.
The current problem is that MVTG intends to keep basic control and ownership in house to fully protect the IP, and trade secrets, and lacks the working capital at this time to move any faster. At least that is my impression at this time.
If they had 10, 50, or 100 million in cash today, the pilot plants would be up and running no time, or might be skipped and turned into full scale plants right away. While they might still build a mini plant or pilot plant first, there would be no scale up issues. The mini plant capacity could be increased to any size almost overnight, by adding more duplicate sized reactors, with out starting from scratch on a redesign for a larger plant. The only thing that would change would be support system sizes, like the control panel, more pumps, or larger pumps, larger storage tanks, stuff that does not require a pilot plant for scale up design problem solving.
Thanks for the heads up!
Don't forget we had an AEXP director buy another 50,000 shares at retail, open market July 19,2011! Check out the Form 4, SEC report. He still owns 1,720,750 shares, DHALIWAL HARBANCE !!!! That makes two AEXP insiders buying shares in the last 12 months.
Don't forget we had an AEXP director buy another 50,000 shares at retail, open market July 19,2011! Check out the Form 4, SEC report. He still owns 1,720,750 shares! DHALIWAL HARBANCE
Nice try PIG! You left out this part in your quote!
Additional funding will be required to complete our 2011 operations program and to complete the merger with American Exploration. We anticipate that we will receive this funding from a variety of methods, including private placements of equity and/or debt instruments, entering into joint venture transactions with third parties, mezzanine financing, and cash flows from any successful wells.
There has been no dilution for 2 years, when are you going to figure it out?
The delay has been SEC delays (old news), not MNLU delays. Also, as long as the merger is delayed, there will be no dilution! (also old news).
If they were going to dilute, they would have done it in February when the stock was over $1/share.
The rules changed recently (a few weeks ago) requiring MM's to post the actual net (retail + MM) shares available for sale at the best bid and ask, instead of hiding the actual data. Frankly it looks to me like another MM raid, like the last two to try and collect cheap shares by scaring retail into selling think the sky is falling.
Now that the rules have changed, MM's can use it to try and show support or resistance with huge numbers of fake phantom shares (but they pull quotes if challenged). I have no doubt if someone slammed the ask with a 50,000 share buy at market order that the ask would rise quickly!!!
Alternatively it could be an unskilled TTEG contractor with some shares trying to convert to cash, but I doubt it. This looks more like a timed MM bear raid to me.
I do not see this as a Washington Debt crisis panic sale, as I do not see it in my other stocks, all the way from China RMs to NVS shares, or AA shares that I hold.
It could also be that somebody knows good news is pending, and they want cheap shares today!!!!!
Markets have been climbing all morning since the gap down at open, and NASDAQ is already almost green, so what ever is going on, I am not buying it (In other words I am not selling, I am holding all my shares).
Some people might disagree with this article about the future of companies like CABN:
http://www.reuters.com/article/2011/07/21/us-carbon-capture-idUSTRE76K24K20110721
Reuters article (link below) saying there are no solutions like ours yet available on the market.
I corrected them in the comments section. I found this article in today's CC Journal.
http://www.reuters.com/article/2011/07/21/us-carbon-capture-idUSTRE76K24K20110721
A dream climate change cure to turn planet-warming greenhouse gases into useful products from jet fuel to plastics will take years to develop from the lab and pilot projects, a report found on Thursday.
Somebody wanted out bad here today. Either that or they were follish enough to use a stop loss trigger and give shares away to the MMs.
This is the only stock I own that I am seeing any real volume in so far today, and the sell was long after the market bottomed and started to rally, so it is a little odd to say the least, especially since the price was holding steady at .18 with good volume lately.
I am still long and holding for a return to 50 cents/share.