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You missed one thing, they have been burning through $5 to 10 million dollars a year, pilling up losses, with no end in site. They paid about $20 million dollars for a BK company called Terra, that the CEO was a major stock holder in, and they bought it with $1 COIN shares (COIN was BK at that time, about August last year, but it still had a stock at $1/share, so they did a smoke and mirrors, hail mary pass merger, that created fake equity on the books, called good will from the purchase price paid for Terra WITH $1 COIN shares), but Terra has not sold a single new license since the merger, which makes it a cash burn problem just like COin was, so all the stock holders equity (good will) from buying Terra is smoke and mirrors accounting, it is worthless because Terra can not seem to close any new deals.
The 3 top executives are collecting about $1.2 million dollars a year in salary while the company has lost about 50 million dollars since 2007. They borrowed $5 million dollars with convertible debt with a conversion rate tied to the stock price, right after the merger. At 10 cent/share the Banksters got 10X as many shares in the conversion as they would have gotten at $1/share retail for COIN, and they are dumping them now. The banksters, and the lack of Terra sales, and flat lined sales of fertilizer, and the new Terra stock holders with all their new shares that became unrestricted a few months ago, have all been selling shares, getting out of Dodge early, as they know this one can not survive with out more new debt, and the last round of debt and merger buyout of a company with no sales has increased the OS by 2000% now, for a company that has never made a single dime of profit.
Only reason the stock stopped falling at 10 cents today, is that the minimum amount the Banksters will sell the new shares at while they dump the massive number of new shares they just converted from CD to new shares. Until the dump is finished, they will support the price at about 10 cents, but the end of the dump is near, may already be done?
"
Overall, I think they probably don't have any reliable data yet (i.e. true to scale) to even know what exactly the carbon footprint or even more importantly the operating cost of ERC will be. This is obviously being addressed by their partnerships right now, so for now it's just something that cannot be answered.
As the generation of electricity, per the carbon fund, releases on average about 1.306lbs CO2 per kWh, it would be preferable to absorb at least that much per kWh we consume using ERC
Last word on the debt was a little over $300,000, from what I have read here repeatedly.
This is so obviously a pump and dump this week. I am the MOD here, and I was long this stock for 3 years, but the final chapter, BK, writing is on the walls now IMHO. Read my earlier posts the past 10 days if you want the real story!!!
Don't get caught holding shares, as this will sell off to .01 or lower fast, once the big boys have finished dumping the hoard of new debt converted to common stock shares (about 50 million to 100 million new shares based on the SEC filing).
The best bid/ask is here:
http://www.otcmarkets.com/stock/coin/quote
And note that it is trading today with no market makers listed, which is a very bad omen!!! It could be back at .05 by the close today, when people realize the party mat be over. Just depends on when the debt sharks have finished dumping all those new shares.
There is good reason there are no MM bids or asks on the OTCBB today! They know better!!!! They are going to stand aside and watch it collapse! And they do not know when the Debt sharks will run out of shares, and stop supporting the price while they distribute the remaining shares. They may have lot more shares left to dump, I have no way of knowing how many they still have.
That PR yesterday was all fluff, not a new Terra license, but an old dead license, taken over by an unknown, and no news of any new cash from the deal (why, because there was non, or it was too small to put in the press release), so that news was all pure fluff BS!!! And now we have a hoard of fluff posters pumping the readers here to "BUY, BUY, BUY, LOL, Yea right. They will be gone soon as well, once the new dump is over, and the price will nose dive once again.
Looks like the CYTR rally has finally begun. Time to run this up to $2/share! just too much good, positive news on this one to be so over sold! We are up over 10% this morning already on more news.
LOL, it dropped to .16 at the open, and bounced up 100%, so the bounce, IMHO, is already over.
"What a POS ! The shorts will be all over it when this daytrader run is finished ! "
I agree with that!!!!!
On the loan sharks part, there are two sides that part. The loan sharks gave COIN one last chance at a hail mary pass of the foot ball, the long ball, but the CEO, quarterback just fumbled the ball again, and a gain. If they had closed Terra deal sales, like just 2 by march this year, this stock would have gone to $2, and the dilution would have been only 10% of what it ended up being.
The real crook is the CEO that let this PR scam cover the share dump today, IMHO! The CEO and BOD's are the ones that agreed to loan shark loans 6-7 months ago. If they had not, COIN would have been BK in January, as they had no credit left, no cash, and no new investors willing to buy new shares at $1. The CD loan sharks were the last chance to save all three parts of this sad mess.
Once the CD shares are distributed this will crash to new lows of .01 like a rock in free fall.
Deedog, why not call MNLU's IRs guy and ask him. They will give you all the nitty gritty detailed answers to your questions. I get the impression that Pigroast is our resident naysayer, soothsayer that drops in from yahoo to stir things up.
MNLU had months of analysis work down on the well after the well was drilled, done by the best in the business. The Gas is dry, clean, and there is a huge supply there. The exact max delivery rate will be unknown until they frack it, and test it for max delivery rates.
MNLU expects to have cash flow from this well this year, maybe Oct, 2011!!! Then they will work on a JV deal to add pipeline capacity to expand the wells delivery capacity, as the current local pipeline can only handle about $250,000.00 a month of gas from the new well, which is a fraction of what the well will be able to deliver based on the studies they have already done. Keep in mind the fracking will increase the basis from the prior study.
Merger may actually get done by year end, as we heard this week that the SEC may now finally have all the loose ends data, and paperwork they asked for. SEC red tape has been much of the delay.
And don't forget the recent SEC form 4 that showed up, that shows that our new director already owns more than 10% shares in MNLU!!!! Gerry! He was the IR guy I got my answers from about 10 weeks ago, before they elevated him to a director. He has a lot more invested in this than we do!!!
The latest news from IR is that they are (or were?) closing a senior secured loan deal that they need to finish before they start the final fracking and well completion, and pipeline tie in work. Gerry told me 3 months ago that all the long lead time materials for well and pipeline completion were ordered over 3-4 months ago.
No guarantee this won't hit 50 cents later this year, but all my indicators suggest it already bottomed and that shorts may be moving on to fresh, richer game. But I started buying at $2 recently, as I am convinced it is worth every bit of $4, so I added at $1.10, and if goes under $1 again I will add more. This could be a $20 stock, in 2-3 years easy!
I too have watched this one closely for almost 3 years now. $2 was my "buy it now" target! LOL.
WOW, nice volume here today. Nearly 3 million shares at .0040 to .0041, very tight range and good volume. Nice to see.
I called the phone number on the web site for the Intact IFUS products last week, I called for the first time, to see if they had a live person answering the phone, and I got one. It was the CEO, Marc Walther!
Had a nice long, over an hour long chat with him. No real news to report except that they are still in business, and trying to boost sales, not that that is really news, but since they are so far behind on public reports (and I still own shares) it is comforting to see the CEO answering the phone and selling the companies product, and to see that they have not packed up, left and shut the company down. Marc and I had a great talk, about several general business topics of interest to both of us. We have a lot in common. He is highly motivated to see the IFUS product line succeed, not just to make money, but because he truly believes in the product. The Autism group and sales is a big deal to him. Seems the Autistic users are also seeing significant benefits according to Walter.
As I have told people here before, my brother was an MD, Ph.D, and my mother was into Homeopathic medicine for 25 years after the AMA failed to solve her health problems, I have a cousin who is a chiropractor, and my background is biochemical and environmental engineering, so I have a wide perspective of this field Biochemistry, pharmacy, toxicity, health sciences....). I also know how significantly my health improved the last 20 years with diet changes, and careful selection and use of OTC supplements, especially mega vitamins.
From what Walter said I don't expect to see any significant change here any time soon (unless they get a timely deal break, which can happen any time, or not happen), but I asked if he would try and at least file an annual report when the next one is due (I expressed my concerns at the lack of reports this year), and I got a yes, he plans to file an annual report at the end of the fiscal year. So I do not expect this company to go dark, or go to the grey sheets, which as a stockholder I found comforting.
Long story short I am staying with this stock for the long haul.
You need to read my last 2 posts here, since that post you quoted of mine. This is an obvious massive share dump of about 50 million new shares of debt converted to stock today, being hidden by news and MM manipulation to cover the dump. The news today was bogus (read why in my earlier post here today). Read my last two posts here, one earlier today, and one earlier this week.
The debt conversion RATE to shares was tied to the closing price of the shares in prior days up to the conversion. Terra and COIN share holders were bailing out before the debt conversion, and the Debt sharks were shorting it down to maximize the share conversion by 1000% (at .05 versus $1/share they got 10 times as many shares for the debt, so they drove the price into the ground). Now they are pushing the price up with bogus news to cover the new issued share dump. So this a huge pump and dump today, IMHO! Go read the last 9 months of SEC fillings, and you will see what I am saying is true.
I had hopped investors would hold the price in the $1 to .50 range to minimize the debt conversion damage, but they sold and bailed in a steady 3-6 month sell off. This is a dead cat bounce, nothing more!!! Congrats to those who got some of there money back in the bounce. I expect a 50% drop in the open tomorrow, partly due to the switch to the OTCBB, if it trades at all tomorrow, as the switch to CABND and OTCBB will confuse people, and bids will be missing, lost, deleted by brokers due to the symbol change, and support will not be there at the open, so MM's will let it free fall?
Someone said earlier that the NASDAQ delisting date is tonight, so it should trade, if it trades at all (It takes at least one MM to post a bid and ask, for it to trade), under CABND tomorrow as an OTCBB stock. The ticker on Ihub will probably not be working yet tomorrow, so check other sites like OTCBB pinks at:
http://www.otcmarkets.com/stock/COIN/quote
or
http://www.otcmarkets.com/stock/COIND/quote
One last thing, when this bottoms later this year at under .01/share, they are already prepared for a huge R/S, which they delayed in a PR about 1-2 weeks ago. And they left the AS at 500 million shares at the last annual meeting, so they can do this BS again next year!!!!!
LOL, good thing my prior COIN post, spooked you. I did not want to rain on the morning rally...parade, but that PR today, was not a new license, but a defunct broke license, licensee taken over by some one we nothing about, who may just be a front for the current CEO and his buddies. Note there was no mention of profit, no mention of dollars changing hands, no mention of a new license which requires a $1 million dollar up front fee, only mention of a salvaged license now taken over by someone we know nothing about, which is typical of COIN PRs lately. I am still as uber bearish long term on this one as ever. But nothing wrong with playing a dead cat bounce while it lasts.
People read what they want to see in PRs!!! I suggest everyone read it again and scrutinize what it fails to say, and what little it says of substance.
Drugtester, I do not have PM ability here (but I can email if I know where), your answer is (CRTP)
I just looked at the COIN price and volume, WOW. This is what I was expecting 3 months ago, but they killed it first, which is BS IMHO. So back to my analysis.
I see only one good possible explanation here. The Debt has been converted and the debt holder is dumping 50 million new shares from the conversion today from that debt conversion on the unsuspecting masses, before it delists from NASDAQ at the end of the day! No doubt they have the cash, and MM help to have walked it up 200% today so they could dump 50 million new shares, and the CEO helped them with the perfect BS PR!!!! AS I read it has passed 35 million shares daily volume already!
The CABN reactor would be dry, sealed. If the NG from the well is clean, the product will be very clean. If the NG is dirty, they will clean the gas up to a spec first, or use other sources, other wells. HS, sulfur gasses are easy to remove, and recycle into sulfur products. Did I answer your question?
Greener,
In all fairness, you may be missing a valid point of his. You both sound a little frustrated. I think we all are. In his case, he wants that big PR that says Lafarge construction is underway and funded (and frankly so do I), so that others will come back and buy and rally the stock price up, so that he can either sell, or at least feel comfortable holding a while longer, or maybe some of both. He may not be able to afford to wait much longer? Not everyone can afford to be as patient as several of us are.
Calling Kol or Larry will not solve his problem (or wish list) of getting new blood in here NOW to get the stock price moving back up, which is what he wants and needs. What he needs or wants is the PR that says Lafarge is funded and underway.
I suspect (think) he has already talked to them. If he has not done so recently, he needs to call Larry and complain directly to him, IMHO.
That said, my compliments on your recent posts and thoughts here.
I don't own any DUNE, but if I did, I would sell at .30 to .50 tomorrow if I could get it. Might even sell at .20, but it depends on how fast, nasty, and long the selling is and gets. I would probably not sell for less than .20
If it gets down to .10 or lower tomorrow, I would buy at the close if the volume and selling is huge all day, and if it bottoms at or under .10/share, then look for a huge bounce to sell into the next day, and wait for a slow painfull week or month long drop back to the closing low of tomorrow, for retest of the low, or new lows. That would be typical if there is no more news this week.
I was alluding to half time shows at a foot ball game. The flooding in Miss, as the half time show for MNLU. No nothing is wrong with MNLU, except the share price is way too low. The MNLU well is well beyond commercial viability.
Interesting, I missed that they had finally had a net profitable quarter. I may still wait for lower prices on this one to add to what I still have. Low volume is an easy target for MMs to take it lower.
"Well between DUNR & MNLU I am zero for two."
I beg to differ, MNLU has not even entered the second half, or even the second quarter of the game IMHO. And they have very little debt, especially compared to DUNR.
If you people would learn basic charts, and indicators like the MACD, you would have seen a huge divergence showing the MACD making lower highs, while the price made higher highs, and the MACD made lower lows, while the price made higher lows, all sure fire indicators of smart money distributing to dumb money, all the last 3-4 month long term view.
And if you look at the MACD and price plots on MNLU, you will see the opposite, the MACD has been rising for 2-3 months on MNLU as the price dropped, showing a divergence, which implies that smart money was buying, accumulating, MNLU as it got cheaper, and selling DUNR the last 4-6 weeks.
READ MY LIPS!! (or my posts). I sold out last year at over $14/share, never looked back (OK yes, I have checked on it periodically), till now. Now I am watching for a bottom, when trading resumes, to buy back in. I own ZERO shares!
I hope to buy in at .25 this year, and hold for 1-2 years for at least $5 before I consider selling all or some.
Good point, that it may be part of the reason for the slowdown in fracking in Texas. Typically when you blend a drilling mud, or fracking fluid, or just soap and water to wash your car you want the cleanest, soft water you can find. Non potable water could have all sorts of issues, like radon, or heavy metals, or PCBs (think superfund contaminated), or bacteria, fecal coliform....and so on. Cleaning it up to make potable water would be needed, and that would create another waste water stream, needing discharge permits.......and so on. Contaminates could cause problems with the well, the fracking, well logging (I think?). The other problem is that not all non potable water is the same, there is no spec, or limits on contaminates. So each new water source would be one huge expensive experiment in the eyes of nervous engineers!!
Non-potable water is like a box-a-chocolates, you never know what your gonna get!
If you include the corporate overhead, that one plant is not profitable (enough). They have way too much corporate overhead. They need sales of 10 times what they have from that one plant, to even come close to break even, maybe even 20 times. Terra has had no new sales in a year now, so the book value they show from the purchase of Terra (most of the listed stock holders equity) is also worthless. Who wants a company that can NOT sell anything in 12 months (Terra). This company will be taken over in BK IMHO by next year if not sooner, unless they dump the corporate staff and the cash burn burden they carry, but that will cost over million dollars thanks to the last minute executive officer, poison pill the CEO rammed through about 8 weeks ago. Now we need $1 million dollars severance pay, just to fire him and his brother and Terra (bruce...) buddy.
They have failed at all (4) the chances they had to salvage this company from failure. It is too far gone non. No one will risk the huge capital required to cut a deal with COIN now for a Terra deal (would trust a million dollars up front to COIN to buy into the scheme right now, hand a BK company $1,000,000 for something no one else is buying?), as they are already insolvent, now for the third time in less than 3 years. No one will fund their projects now, or lend them money now. Even convertible shares or convertible debt is now worthless. The last lone sharks and the CEO have seen to that with this 95% sell off, and I do not think the massive share dump of convertibles has even started yet!!! (OUCH). 3 months ago, I had hoped the insiders and loan sharks might have sense enough to keep the shares at $1, and keep it on NASDAQ long enough for Terra to get something going, but allas it is obvious the insiders and institutions have selling as fast as they can.
.001 /share by year end is my current gut feel for this POS. And since I was the lone standing BULL here the last 12 months, if I am saying .001 by year end now, YOU CAN REST ASSURED this one is cooked, finished, dead, a dead man walking class stock. To give you an idea how bad COIN is now, I just bought shares in a China R/M that just volunteered to be listed from NASDAQ after trading was halted for 2 months, one that does not even have an MM bid/ask prices yet and is on the pink sheets with a yield symbol and I bought it today at .40/share (PE is 1 on it). I am that kind of ultra risk taker on a bottom fishing for ultra cheap stocks, and I tell you today I will not spend even 0.001/share for COIN right now, because I see it going to ZERO next!! I am done holding this bag!!!
The CEO admitted in the last CC when he was asked, said that the farm they said they were buying 14 months ago, never happened because they could not secure financing! It was a profitable farm using COIN products! That was 14 months ago, now they finally tell us it is never happened? What else are they hiding?
Very sad.
With proper management, this could have been a beast of a company! If any one gets a tar and feather party together as a going away party for the CEO, let me know, I will supply the feathers!
Rant NOT over...stay tuned, LOL.
Trading water for oil and gas in Texas? Are we back to the food or fuel problem? I am glad the MNLU find is near plenty of cheap flood water, LOL!
http://theenergycollective.com/jcwinnie/60599/t-boone-terrorism
Nice closing rally, up almost 9% today, closing at the days high too. Nice, especially after R/S. I guess this is going to be one that does not sell off due to a R/S!!!!
Eco is still long here!
This is a good description of what has happened to ABAT (and similar stocks) and why.
Frivolous SEC investigations — The shorts “leak” tips to the SEC about “corporate malfeasance” by the target company. The SEC, which can take months processing Freedom of Information Act requests, swoops in as the supposed “confidential inquiry” is leaked to the short media.
The plethora of corporate rules means the SEC may ultimately find minor transgressions or there may be no findings. Occasionally they do uncover an Enron, but the initial leak can be counted on to drive the stock price down by twenty-five percent. The announcement of no or little findings comes months later, but by then the damage that has been done to the stock price is irreversible. The San Francisco office of the SEC appears to be particularly close to the short community.
Class Action lawsuits — Based upon leaked stories of SEC investigations or other media exposes, a handful of law firms immediately file class-action shareholder suits. Milberg Weiss, before they were disbanded as a result of a Justice Department investigation, could be counted on to file a class-action suit against a company that was under short attack. Allegations of accounting improprieties that were made in the complaint would be reported as being the truth by the short friendly media, again causing panic among small investors.
Interfering with target company's customers, financings, etc. — If the shorts became aware of clients, customers or financings that the target company was working on, they would call and tell lies or otherwise attempt to persuade the customer to abandon the transaction. Allegedly the shorts have gone so far as to bribe public officials to dissuade them from using a company's product.
Pulling margin from long customers — The clearinghouses and broker dealers who finance margin accounts will suddenly pull all long margin availability, citing very transparent reasons for the abrupt change in lending policy. This causes a flood of margin selling, which further drives the stock price down and gets the shorts the cheap long shares that they need to cover.
Paid bashers — The shorts will hire paid bashers who “invade” the message boards of the company. The bashers disguise themselves as legitimate investors and try to persuade or panic small investors into selling into the manipulation.
Just ask Jim Cramer
Jim Cramer, in a video-taped interview with The Street.com, best described the media function:
When (shorting) ... The hedge fund mode is to not do anything remotely truthful, because the truth is so against your view, (so the hedge funds) create a new 'truth' that is development of the fiction… you hit the brokerage houses with a series of orders (a short down ladder that pushes the price down), then we go to the press. You have a vicious cycle down — it's a pretty good game.
This interview, which is more like a confession, was never supposed to get on the air, however, it somehow ended up on YouTube. Cramer and The Street.com have made repeated efforts, with some success, to get it taken off of YouTube.
There is therefore an increasing danger the short sellers will overstep by accusing healthy Chinese entities in the U.S. of misbehaving and face legal action from the companies or the authorities as a result.
Shenzhen, China , June 23, 2011
China Ritar Power Corp. (the “Company”), today announced its intent to voluntarily delist the Company’s common stock from the NasdaqGlobal Stock Market (“Nasdaq”). The Board determined that maintaining the listing has imposed difficult burdens and high costs on the Company. The Company has immediately proceeded with delisting by providing a written notice to Nasdaq on June 23, 2011 of its intention to delist and will file a Form 25 with the Securities Exchange Commission on or around July 5, 2011. The Company expects the delisting from Nasdaq to become effective July 15, 2011, ten days after filing its Form 25.
Upon delisting from the Nasdaq, the Company expects that trading of the Company’s common shares by shareholders may be effected through quotations on the Pink OTC Market (a centralized quotation service that collects and publishes market maker quotes for securities). This will require at least one market maker to quote the Company’s common shares on the Pink OTC Market after the market maker complies with Pink OTC Market rules. There is no assurance that a market maker will comply with those rules. The Company will remain subject to the periodic reporting requirements of the Securities Exchange Act of 1934, as amended.
The Company has previously reported its receipt of notices from Nasdaq indicating that the Company is not in compliance with Nasdaq listing requirements contained in Marketplace Rule 5250(c)(1), which requires timely filing of SEC periodic reports due to the failure to timely file its annual report on Form 10-K for the fiscal year ended December 31, 2010 and its quarterly report on Form 10-Q for the three months ending March 31, 2011.
About China Ritar
China Ritar designs, develops, manufactures and markets environmentally friendly lead acid batteries with a wide range of capacities and applications, including telecommunications, Uninterrupted Power Source (UPS) devices, Light Electrical Vehicles (LEV), and alternative energy production (solar and wind power). China Ritar sells, markets and services six series and 197 models of Ritar-branded, cadmium-free valve-regulated lead-acid (VRLA) batteries. Products are sold worldwide with sales in 81 countries including China, India, and numerous markets in Europe and the Americas. Additional information can be found at the Company’s website
CRTP website .
No MM's yet, trading blind on a 2+ day chart in pinks, no bid or ask available (no MM's yet), but this stock is trading again on the pinks, with a PE of less than 1, right now about .5 I think. I just bought my first batch of shares at .40, looking to add, especially if it goes any lower. Market cap at this price is something absurd like 1/20th of annual sales!
Ecomike just went long here!!
It could spike to $2 very quickly, anytime if one of the big boys decides to put the screws to the shorts. As you noted, the charts say the shorts are in trouble already. Perhaps an MM will take note and drive it north soon. Or they will just wait for PRs to do it.
Looks like stock dilution (which could affect dividend, but it is a marger, so depends on what they are buying?):
Reference is made to the press release from DHT of 31 May 2011 regarding the voluntary exchange offer (the “Offer”) for all of the issued and outstanding shares of Saga Tankers ASA (“Saga”).
The combined offer document and document containing equivalent information to a prospectus (the “Offer Document”) has been reviewed and approved by the Oslo Stock Exchange in accordance with Section 6-14 of the Norwegian Securities Trading Act and reviewed by the Financial Supervisory Authority of Norway in accordance with Section 7-13, cf. Sections 7-4 no 6 and 7-5 no 7 of the Norwegian Securities Trading Act. The approval by Oslo Stock Exchange is limited to the exchange offer described in chapter 5 of the Offer Document.
The consideration in the Offer is 0.25 shares of DHT common stock for each share in Saga, to be issued on or about 2 August 2011, on the terms set out in the Offer Document. DHT will issue up to 21,694,352 shares of common stock as consideration to the shareholders in Saga. The offer period is from and including 6 July 2011 to and including 20 July 2011 at 09:00 (CET). Completion of the Offer is subject to conditions set out in the Offer Document being satisfied or waived by DHT. Shareholders representing 75.2% of the total share capital of Saga have given their pre-acceptances to the Offer, subject to customary conditions.
The Offer Document will, subject to restrictions under applicable securities laws, be available during the offer period at the website of DHT, www.dhtankers.com, and the website of Carnegie, www.carnegie.no. Further, the Offer Document will, subject to restrictions under applicable securities laws, be sent to the shareholders of Saga.
Which chart do want there? And thanks for the charts! I added the sticky you asked for!
Extinctionpop,
I have asked Admin to restore them, but I can not assure that they will. Posts like those two need to have some early text saying why they are relevant to this board, or they become easy delete targets for Ihub admin staff, simply for seeming to be off topic (because there was no mention of ABAT in you post). Also it is a violation of Ihub policy to discuss reasons for deleted posts, or deleted posts.
In the future, if you will make an early statement as to why the link, article, etc is relevant to this stock, it should be safe from the off topic deletion. You might also check your menu under settings for YOUR deleted posts, and cut and paste the relevant parts and repost those parts, and explain why they are relevant to ABAT board readers (be sure to have ABAT text in the post!!!).
I had a shop right next door to Chemical Research in the early 1980s when they were just a tiny R&D blip. They came up with the process (catalyst) to make MTBE, which EPA mandated the use of in the late 80s (IIRC), and they were the only game in town, so the big boys licensed and used the stuff (which put Chemical Research on the map), until EPA discovered that it was worse than the prior oxygenated fuel additives, as it contaminated ground water a 1000 times faster, due to its high water solubility and the EPA outlawed in the late 90s (IIRC).
What I do not know, is how profitable the license was, or was not?
I have been expecting this news today, due to the debt ceiling-budget battle that is underway in Washington:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=64878754
IIRC the last 10-Q/8-K showed a .030/share profit, and the stock is selling for less than cash in the bank today, cash from the US Gov grant and the Nordic settlement (totaling about $750,000.00 IIRC). I think this is a screaming buy right now under .01/share. I think the coming R/S price drop over R/S fear is already priced in now since the price is now at about 6% of the 52 week high.
I find this new CFO's credentials quite impressive! Most Impressive! He is also a director now.
A-Power Energy Generation Systems, Ltd. (NASDAQ: APWR) ("A-Power"), a leading provider of distributed power generation systems in China and a manufacturer of wind turbines, today announced that Mr. Kin Kwong (Peter) Mak, A-Power's Chief Financial Officer, will come to the end of his extended service contract on July 15, 2011.
The Company also announced that Mr. Michael Zhang, the Company's Vice President for Strategic Planning, Internal Audit, and Internal Control, and recently elected to the Company's board of directors, will also serve as interim CFO, effective July 15, while the Company conducts a search to fill the CFO position. As interim CFO, Mr. Zhang will oversee the Company's financial operations and financial reporting.
Mr. Mak was appointed Chief Financial Officer in May 2009. His two-year contract had been extended 1.5 months to July 15, 2011. Mr. Mak said, "I am grateful for the Company's support of my work. As agreed, the extension of my service contract term until July 15 is coming to an end. I wish every success to Chairman Lu and to A-Power."
Mr. Jinxiang Lu, A-Power's Chairman and Chief Executive Officer, said, "We understand Peter's desire to continue his career in another direction, and we wish him well.
"We are very fortunate to have an officer of Michael Zhang's high caliber and great experience in financial reporting available to step in as interim CFO as we work together to select our new auditor, complete the audit of our 2010 financial results, and then resume our regular financial reporting."
Mr. Zhang, age 42, joined A-Power in January 2010 as Vice President, initially for the design, implementation, and management of the Company's internal and disclosure controls systems, and later his scope was expanded to include internal audit, strategic planning, and the integration of the Company's Evatech Co. Ltd. solar equipment manufacturing subsidiary in Japan. He has more than 18 years of experience in internal audit, internal controls, corporate governance, and risk management related services. Mr. Zhang's professional experience includes assisting listed issuers with the preparation of their US GAAP financial statements.
Prior to joining A-Power, Mr. Zhang was Executive Director of Business Risk Services with Ernst & Young (China) Advisory Limited from August 2007 through May 2009. Previously he was Director of Enterprise Risk Services at Deloitte Touche Tohmatsu CPA Ltd. from April 2005 through May 2007, where his responsibilities included the provision of internal control (Sarbanes-Oxley Section 404) consulting services to a variety of corporate clients. Mr. Zhang earlier served with Lenovo Group Ltd. for more than four years as director of internal audit and internal controls and with China National Petroleum Corporation for seven years as an internal auditor and, initially, as a software engineer.
Mr. Zhang is a Certified Internal Auditor and a past member of the Internal Auditing Standards Board of The Institute of Internal Auditors. Mr. Zhang graduated from Northwest University with a Bachelor's Degree in Computational Mathematics. He received an MBA in Finance from Hong Kong Chinese University.
Since November 2010, Mr. Zhang has been an independent director and audit committee chairman on the Board of Directors of China Shengda Packaging Ltd., a Nasdaq-listed China-based paper packaging company that has no relationship with A-Power. Since September 2009, he has served as an independent director in Beijing Kingstar Consulting Firm Limited, a development-stage consulting firm that has no relationship to A-Power. Since May 2009, he has served as an independent director of Well-Tech (Changzhou) Electronic Technology Co., Ltd., a provider of mechanical manufacturing services that has no relationship to A-Power.
Mr. Zhang was elected as a director of A-Power, effective on June 8, 2011.
About A-Power
A-Power Energy Generation Systems, Ltd. ("A-Power"), through its China-based operating subsidiaries, is a leading provider of distributed power generation systems in China and is expanding into the production of alternative power generation systems. Focusing on energy-efficient and environmentally friendly distributed power generation projects of 25 to 400 megawatts, A-Power also operates one of the largest wind turbine manufacturing facilities in China. A-Power acquired Evatech Co. Ltd., a designer and manufacturer of industrial equipment for amorphous-silicon photovoltaic panels, in January 2010.
In addition to the establishment of strategic relationships with some of the world's leading wind energy design and engineering companies, A-Power has formed joint research programs with Tsinghua University and the China Academy of Sciences to develop and commercialize other renewable energy technologies.
For more information, please visit http://www.apowerenergy.com.
Safe harbor statement
This news release may contain forward-looking statements. Any such statement is made within the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "anticipates," "believes," "expects," "estimates," "future," "intends," "may," "plans," "will," and other similar statements. Statements that are not historical facts, including statements relating to anticipated future earnings, margins, and other operating results, future growth, construction plans and anticipated capacities, production schedules and entry into expanded markets are forward-looking statements. Such forward-looking statements, based upon the current beliefs and expectations of our management, are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements, including but not limited to, the risk that: inclement weather conditions could adversely affect our operating results in particular quarters and or years; we may experience construction, manufacturing, and development delays on our projects which could adversely affect our financial condition and operating results; our limited operating history and recent entrance into new lines of business and jurisdictional markets may make it difficult for you to evaluate our business and future prospects; we may not be able to successfully develop our business in new jurisdictional markets, which would have a negative impact on the results of our operations derived from such new jurisdictional markets; our customers may not be able to obtain the financing required for these projects, and thus, we may not be able to derive revenues from such agreements, as well as other relevant risks detailed in our filings with the Securities and Exchange Commission, including those set forth in our annual report filed on Form 20-F for the year ended December 31, 2009. The information set forth herein should be read in light of such risks. We assume no obligation to update the information contained in this news release, except as required by law.
R/S completed today. Trading as CRBCD now for 20 days, up over 5% this morning.
I don't think the market understands how significant this news is!!!!
CytRx Receives FDA Orphan Drug Designation for INNO-206 for the Treatment of Soft Tissue Sarcomas
BY Business Wire
— 8:30 AM ET 07/05/2011
LOS ANGELES--(BUSINESS WIRE)-- CytRx Corporation (CYTR) , a biotechnology company specializing in oncology, today announced that the Office of Orphan Product Development of the U.S. Food and Drug Administration (FDA) has granted INNO-206 orphan drug designation for the treatment of patients with soft tissue sarcomas. Soft tissue sarcomas are cancers that are formed in the muscle, fat, fibrous tissue, blood vessels or other supporting tissue of the body. CytRx (CYTR) holds the exclusive worldwide development and commercialization rights to INNO-206.
INNO-206 is a novel conjugate of doxorubicin, a commonly prescribed chemotherapeutic, and was designed to improve efficacy and reduce adverse events through controlled release and preferential targeting of tumors. Doxorubicin is currently the only FDA-approved drug on the market for soft tissue sarcoma, and is a standard chemotherapeutic treatment for a variety of other cancers. In April 2011, the FDA granted INNO-206 orphan drug designation for treating patients with pancreatic cancer.
CytRx (CYTR) plans to begin a Phase 2b clinical trial with INNO-206 in patients with late-stage soft tissue sarcomas in the second half of 2011, following completion of an ongoing open-label Phase 1b clinical trial in patients with advanced solid tumors who have failed standard therapies. The Phase 1b clinical trial, which consists mostly of patients with soft tissue sarcomas, is evaluating the safety of administering doses of INNO-206 that are more than two to four times the standard dose of doxorubicin.
“Our strategy to move quickly into a Phase 2b trial with INNO-206 in soft tissue sarcomas is further supported by the FDA’s approval of orphan drug designation," said Steven A. Kriegsman, President and CEO of CytRx. “We envision a significant opportunity in this indication due to the objective clinical responses seen with INNO-206 in patients with sarcomas in an earlier Phase 1 trial as well as preclinical data.”
Patients with advanced soft tissue sarcomas who can no longer be treated with surgery have a poor prognosis. Progression-free survival for this group is around six to seven months, and median overall survival is approximately 18 months with less than one-third of these patients living past three years. Combinations of the chemotherapy drugs ifosfamide and doxorubicin appear to offer the highest response rates and longest time to progression in these patients; however, these regimens have not significantly improved survival.
In the United States, under the Orphan Drug Act, the FDA may grant orphan drug designation to a drug intended to treat a rare disease or condition, which is generally a disease that affects fewer than 200,000 individuals in the country. The designation grants U.S. market exclusivity to a drug for a particular indication for a seven-year period if the sponsor complies with certain FDA requirements. Additional incentives for the sponsor include tax credits related to clinical trial expenses and a possible exemption from the FDA-user fee.
About CytRx Corporation
CytRx Corporation is a biopharmaceutical research and development oncology company engaged in the development of high-value human therapeutics. The CytRx oncology pipeline includes three programs in clinical development for cancer indications: INNO-206, tamibarotene and bafetinib. With its tumor-targeted doxorubicin conjugate INNO-206, CytRx plans to initiate a Phase 2b clinical trial as a treatment for soft tissue sarcomas, following a Phase 1b dose escalation safety trial. The Company is evaluating bafetinib in the ENABLE Phase 2 clinical trial in high-risk B-cell chronic lymphocytic leukemia (B-CLL) and the PROACT Phase 2 clinical trial in advanced prostate cancer, and is conducting a pharmacokinetic clinical trial in brain cancer. CytRx's pipeline also includes tamibarotene, which it is testing in a double-blind placebo-controlled Phase 2 clinical trial in patients with non-small-cell lung cancer, and which is in a registration clinical trial as a treatment for acute promyelocytic leukemia (APL). For more information on the Company, visit http://www.cytrx.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Such statements involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements, including risks or uncertainties related to the outcome, timing and results of CytRx's clinical testing for INNO-206 in patients with soft tissue sarcomas, uncertainties regarding regulatory approvals for current and future clinical testing of INNO-206 and the scope of the clinical testing that may eventually be required by regulatory authorities for INNO-206, the significant time and expense that will be incurred in developing any of the potential commercial applications for INNO-206, including for soft tissue sarcomas, the risk that any future human testing of INNO-206 for might not produce results similar to those seen in animals, risks related to CytRx's ability to manufacture its drug candidates, including INNO-206, in a timely fashion, cost-effectively or in commercial quantities in compliance with stringent regulatory requirements, risks related to CytRx's need for additional capital or strategic partnerships to fund its ongoing working capital needs and development efforts, including any future clinical development of INNO-206, and the risks and uncertainties described in the most recent annual and quarterly reports filed by CytRx with the Securities and Exchange Commission and current reports filed since the date of CytRx's most recent annual report. All forward-looking statements are based upon information available to CytRx on the date the statements are first published. CytRx undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Source: CytRx Corporation
Here is some that we should keep an eye on, and that needs further DD with regards to CABN.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=64866140
That rising MACD divergence while the stock price kept falling for so long tells the whole story. Big MOMO coming now!
Natural gas news:
DEALTALK-Natural gas engine makers to purr as automakers invest
BY Reuters
— 1:10 PM ET 07/01/2011
* Westport, Clean Energy Fuel among likely gainers
* GM, Chrysler, others investing in natural gas technology
* Green-tech firms to grow at over 20 pct/yr over 3-5 years - fund manager
By Gowri Jayakumar and Ben Klayman
BANGALORE/DETROIT, July 1 (Reuters) - As natural gas emerges as a feasible near-term alternative to pricy gasoline, major automakers like General Motors and Chrysler are gearing up to invest in companies that make engines and parts for vehicles that run on the fuel.
Natural gas engine and parts makers such as Westport Innovations and Clean Energy Fuel Corp will be among the gainers as the auto industry looks to reduce its dependence on imported oil, and tap into North America's vast natural gas resources.
"(GM CEO) Dan Akerson has made it pretty transparent this is an area we need to get back into in the North American environment," Micky Bly, the GM executive in charge of electric vehicles, told reporters after a Detroit Economic Club event this week.
Crude oil currently trades at close to $95 a barrel, while natural gas trades at just $4 per million British thermal units (mmBtu).
"Natural gas is clean, it's cheaper, and it provides a domestic source of fuel, so there's energy security involved as well," said ThinkEquity analyst Shawn Severson.
Natural gas-propelled cars are also seen by some as greener than all-electric vehicles, which charge their batteries using electricity often generated by fossil fuel-fired power plants.
Westport, which mostly makes natural gas engines for large trucks, has a project with Caterpillar Inc to develop engines for mining and earthmoving trucks, and this week teamed up with GM to make natural gas engines for lighter vehicles.
"Engines for big trucks cost $200,000-$300,000. Westport, either directly, or indirectly through its partners, will invest about $1 billion in creating such solutions," said Jack Robinson, Chief Investment Officer at Winslow Green Growth Fund, which has a 4 percent stake in the company.
Westport is one of the fund's top-10 holdings, and Robinson expects green-tech companies to grow at an average annual rate of more than 20 percent over the next 3-5 years.
"20 percent looks very good when you're in an economy that's not growing ... at least, the U.S. economy isn't growing."
INCENTIVES
ThinkEquity's Severson also sees companies such as Fuel Systems Solutions and Italy's Landi Renzo benefiting from the auto industry pouring money into these technologies. FSS has tied up with GM to install natural gas engines in its vans.
"We know natural gas has a huge potential in some countries ... You can go to (South) Korea right now, get in a taxi, and you're probably driving in one of our vehicles that are running on CNG," GM's Bly said, referring to compressed natural gas.
Green energy engine and parts makers could also get a major fillip from a new Energy Bill introduced in the United States offering incentives to convert trucks to run on natural gas, which could cost the government up to $4.1 billion.
"The total available market is huge," said Severson. "If you think of how many engines, vehicles, locomotives, mining and garbage trucks are out there, it's all potentially open for natural gas engine systems."
Chrysler is also counting on natural gas as a near-term alternative to gasoline. It is one of the few top-selling automakers in the U.S. market that does not have a hybrid vehicle offering, and is under mounting pressure to improve the fuel economy of its vehicles.
Fund manager Robinson expects green-fuel autos to occupy a mainstream position in the auto industry within 10 years.
"In the case of GM and all the other manufacturers, they will invest whatever is necessary to make green fuel happen, because if they don't, they'll ultimately go out of business."