Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
http://ih.advfn.com/p.php?pid=nmona&article=48246313&symbol=MXWL
Competitive news!
Maxwell Technologies, Inc. (Nasdaq: MXWL), a leading producer of ultracapacitor-based energy storage products, announced today that it will receive more than $500,000 in state and federal funding for collaborative energy storage research and development programs with three U.S.-based companies.
Maxwell will receive more than $300,000 for collaborative R&D programs with Connecticut-based battery manufacturer Yardney Technical Products, Inc., a Veteran Owned Small Business that has been in operation since 1944. Yardney has been awarded U.S. federal government Small Business Innovation Research (SBIR) grants in which Maxwell is participating as a key contributor and collaborator.
The programs focus on application of Maxwell's proprietary, solvent-free, electrode fabrication process to produce high-performance, low-cost, lithium-ion battery electrode material, and on integration of Maxwell's high power-density ultracapacitors and Yardney's high energy-density batteries for optimized energy storage solutions for transportation, industrial and other applications.
"This is a great opportunity to improve the state-of-the-art for energy storage technology," said Vince Yevoli, Yardney's president and chief operating officer.
Maxwell will receive more than $200,000 in funding through energy storage technology collaborations with two Ohio-based materials producers that have been awarded development grants from that state's Ohio Third Frontier program. One involves testing and evaluation of advanced activated carbons produced by Calgon Carbon Corp. at Calgon's Columbus, Ohio facility, with a goal of establishing a domestic source of high-performance, low-cost carbon for ultracapacitors. The second involves testing and evaluation of novel graphene material produced by Dayton, Ohio-based Nanotek Instruments, Inc., to determine how graphene might be used to increase the energy density of ultracapacitors.
"This external funding and the opportunity to collaborate with leading energy storage technology innovators are instrumental in accelerating and amplifying Maxwell's internal research and development efforts," said David Schramm, Maxwell's president and chief executive officer. "We are pursuing several other R&D funding sources and opportunities to partner with industry leaders to leverage our intellectual property and continuously improve our products' performance and cost structure."
Maxwell is a leading developer and manufacturer of innovative, cost-effective energy storage and power delivery solutions. Our ultracapacitor cells and multi-cell modules provide safe and reliable power solutions for applications in consumer and industrial electronics, transportation and telecommunications. Our CONDIS® high-voltage grading and coupling capacitors help to ensure the safety and reliability of electric utility infrastructure and other applications involving transport, distribution and measurement of high-voltage electrical energy. Our radiation-mitigated microelectronic products include power modules, memory modules and single board computers that incorporate powerful commercial silicon for superior performance and high reliability in aerospace applications.
Until they are converted and issued and registered with the SEC as sellable they are not part of the float (they are trapped), they can not be borrowed to be shorted, and therefore have no effect on the supply-demand price equilibrium day to day. They may have a future discount, baked into the stock price effect, that depresses the stock price based on future expectations of an increased float that can be more easily shorted in the future, etc.
The big question today, is will the cash burn end, at the end of this year as some analysts have predicted? Also, with the huge new plant in NY fully operational for show and tell, will we see a rush of new orders over the next year?
Do some math. If NG is selling at $4, and the big boys like Exxon paid $1.50 to $2 for reserves in the last year buy outs (some still needing additional wells drilled, but a sort of proven reserves basis purchase), when NG was selling at $2.50-$3.50, What does that tell you about the cost to deliver it?
If a well is a dud, or has too much CO2 the cost is infinite, as the denominator goes to zero, cost to produce/actual production goes to infinity as the denominator goes to zero, so with some wells being great wells, and others being duds, there must be a huge spread of examples? I think a well like the new MNLU well could have a cost of $1 with so much gas and pressure?
Everyone was quoting $2.5 as the break even for the lowest cost producer in 2009, KWK.
This showed up on my radar today:
http://www.flowcontrolnetwork.com/applications/energy/article/us-epa-announces-7-case-studies-on-hydraulic-fracturing#en
Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
Timothy McInerney has tendered his resignation from the Company’s Board of Directors effective June 23, 2011.
Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.
At the Annual Meeting of Stockholders of Manhattan Pharmaceuticals, Inc. (the “ Company ”) held on May 20, 2011, the Company’s stockholders approved a proposal authorizing the Company’s Board of Directors (the “ Board ”), at its discretion, to amend the Company’s Amended and Restated Certificate of Incorporation, as amended (the “ Certificate of Incorporation ”), to effect a reverse stock split of the Company’s issued and outstanding shares of common stock, par value $0.001 per share, within the range of 1 for 25 and 1 for 50, inclusive, without further approval or authorization of the Company’s stockholders if the Board determines in the future that such a reverse stock split is in the best interests of the stockholders (the “ Reverse Split Amendment Authorization ”). Pursuant to the Reverse Split Amendment Authorization, the Board approved a 1 for 50 reverse stock split.
On June 23, 2011, the Company filed an amendment to its Certificate of Incorporation with the Secretary of State of Delaware (the “ Charter Amendment ”). The Amendment effected a one-for-fifty (1 for 50) reverse stock split of its outstanding common stock, par value $0.001 per share. As a result of the split, each fifty (50) outstanding shares of pre-split common stock were automatically combined into one (1) share of post-split common stock, par value $0.001 per share. Accordingly the Company’s approximately 129.8 million pre-split shares outstanding will be combined into approximately 2.6 million post-split shares outstanding.
The Charter Amendment did not change the par value of the Company’s common stock, which remains at $0.001 per share, or the number of shares of common stock the Company is authorized to issue, which remains at 500,000,000 shares. No fractional shares will be issued. Stockholders, who otherwise would be entitled to receive fractional shares because they hold a number of shares not evenly divisible by 50, will automatically receive one whole share of common stock in lieu of the fractional share. Each stockholder’s percentage ownership interest and proportional voting power remain substantially unchanged, except for minor changes that may result from rounding up for fractional shares. In addition, proportional adjustments will be made for the Company’s equity awards, outstanding warrants and convertible notes.
The Company’s shares will continue trading on the Over-the-Counter Bulletin Board (the “ OTCBB ”) and will begin trading on a post-split basis upon completion of the Financial Industry Regulatory Authority approval process which is currently expected to be on or about July 8, 2011. For a period of 20 trading days thereafter the Company’s ticker symbol will be changed to “MHAND” to signify that the reverse stock split has occurred. After this 20-day trading period the Company’s common stock will resume trading under the symbol MHAN.
The Company’s transfer agent, Continental Stock Transfer and Trust Company, will send instructions to stockholders of record regarding the exchange of outstanding stock certificates for new certificates representing post-split shares of common stock.
Last 2-3 minutes were most of the volume on three of my stocks (longs) today, huge volume sell off (most likely short sales and covers all once, or?, IMHO).
HTM US geothermal power company also got hammered in the last 2 minutes, down on huge volume at the close. 98% of the volume was in the last 4 minutes, 1000% of the 90 day average volume traded in last 4 minutes, price was up 7-8% earlier in the day and closed down nearly 15% at a new 52 week low.
ABAT (7.2 million shares, about 5 million in the last 2 minutes)
CBAK was climbing all day, up nearly 10%, back up over $1, only to get hammered down 8.5% in the last 2 minutes, when 80% of the volume went off with about 1.4 million shares in 2 minutes at the close. (obvious game playing, manipulation going on of some sort...so is this still Russel 3000 adjustments for the end of June? If so what does it really mean, did the Russell 3000 add or sell shares to rebalance the fund?, any way to tell for sure?)
I think they all made new 52 week lows as a result.
Last 2-3 minutes were most of the volume on three of my stocks (longs) today, huge volume sell off (most likely short sales and covers all once, or?, IMHO).
CBAK was climbing all day, up nearly 10%, back up over $1, only to get hammered down 8.5% in the last 2 minutes, when 80% of the volume went off with about 1.4 million shares in 2 minutes at the close. (obvious game playing, manipulation going on of some sort...so is this still Russel 3000 adjustments for the end of June? If so what does it really mean, did the Russell 3000 add or sell shares to rebalance the fund?, any way to tell for sure?)
ABAT (7.2 million shares, about 5 million in the last 2 minutes)
HTM US geothermal power company also got hammered in the last 2 minutes, down on huge volume at the close. 98% of the volume was in the last 4 minutes, 1000% of the 90 day average volume traded in last 4 minutes, price was up 7-8% earlier in the day and closed down nearly 15% at a new 52 week low.
I think they all made new 52 week lows as a result.
Last 2-3 minutes were most of the volume on three of my stocks (longs) today, huge volume sell off (most likely short sales and covers all once, or?, IMHO).
ABAT (7.2 million shares, about 5 million in the last 2 minutes)
CBAK was climbing all day, up nearly 10%, back up over $1, only to get hammered down 8.5% in the last 2 minutes, when 80% of the volume went off with about 1.4 million shares in 2 minutes at the close. (obvious game playing, manipulation going on of some sort...so is this still Russel 3000 adjustments for the end of June? If so what does it really mean, did the Russell 3000 add or sell shares to rebalance the fund?, any way to tell for sure?)
HTM US geothermal power company also got hammered in the last 2 minutes, down on huge volume at the close. 98% of the volume was in the last 4 minutes, 1000% of the 90 day average volume traded in last 4 minutes, price was up 7-8% earlier in the day and closed down nearly 15% at a new 52 week low.
I think they all made new 52 week lows as a result.
3.) Shell's catalyst seems to require cobalt, not as readily available as the elements in Carbon Science's catalyst.
Nice work. That confirms the kind of felling I got from earlier calls 4-8 weeks. Good to have some one else post phone call results. That reply makes me wonder what type of loan they are seeking. I don't think they would be diluting common shares to borrow money (due to the merger agreement with AEXP).
Could they be seeking a straight up asset loan since they are so far along, I wonder?
Maybe preferred shares, or convertible debt.
I am still holding all the shares I bought, never sold a single share. Why don't you call Walter and ask him what is happening?
Tell him to do something about releasing an update, even if it is just a target date for an update?
I am personally happy to see the new Autism site selling the IFUS products, which was PR'd a long time ago, but is now actually visible on the Autism association web site (Autism site I posted the link to recently). So at least there are some signs of life still.
Actually I was lucky I guess. I got a birds eye view (last 2 years) of what happens when a China/US reverse merger firm changes auditors to a top 4 firm (Deloitte...) and then announces the new auditor is going to redo the prior 2 years reports, because the new auditor "can not rely on the old reports" (OUCH!!!), so it took them 14+ months to redo 2 old annual reports, plus the new one that was already due, and the stock dropped another 80% in that 14 months. The funny part (or sad part) was the reworked, 2 old 10-K annual reports over reported losses, LOL!!!!!!
I bought the falling knife, the bottom and sold about 3-4 months ago (kept some shares) with a nice 400% gain. One of the keys was a 5 million dollar unsecured signature loan signed by the CEO to secure funding needed to secure the construction of their huge new plant they were building (now up and running....), the company was CYGV, which is slowly getting cheap again itself, and may be a buy soon, as they should have positive earnings finally by year end as the new plant has given them a 4x capacity boost, and they already have the 4X increase in orders. It was one of the first firms to go through this auditor swap out mess, which in my opinion has more to do with differences in accounting methods between China and the US (GAAP). These small cap hybrid China/US firms must do dual accounting for dual reports to China banks and Gov. agencies, and the US investors / SEC. It would be real interesting to see what kind of skeletons are rattling around under the rugs of huge international firms like GE with huge operations in China!!!!!
It is all about timing. I knew APWR was going to have huge working capital issues, would need to dilute to raise capital for all the large orders and projects (Texas Windfarm and factory), acquisitions, I new the GE Press was going to be bad (In spite of what I think of GE, which is not good, they are better off with out GE!!), and then with such a nasty chart already, the shorts just piled on. Now they are finally (like most US/China reverse merger small-micro-mid caps) going through the same auditor problems, I expect most of them will go through, which should make a huge value bottom for stocks like this one. They will survive, but the next 6 months will be bloody hell, especially if the Mexican standoff happens in Washington DC this summer over raising the US Debt ceiling, and scares the hell out of investors, yet one more time! Personally I hope Washington is not that stupid, but they proved otherwise in 2008 in their first failed vote on the bail out, after which WS crashed!
But a Phoenix will rise from the ashes, and I believe APWR will be one of them.
Nothing really shady about ABAT, and lights out is not going to happen. This one will survive, and in 5 years prices under $1 will look like the steal of a life time. In the mean time there will be huge volatility once it trades again, between .25 and $2 is even possible for highs and lows, depending on much damage control has been done before it trades again. While they have had huge earning misses, and huge revenue disappoints, like the wind sector, they have also had positive profits. Only question is now is how cheap will the bottom get. I will be a buyer at the bottom.
FWIW, go back and read my old posts here the last 2 years, where I predicted a pull back to under $5 while all the bulls were all giddy at prices between $8 to $20, LOL. I was right then too!
I went through this Auditor & director change panic nonsense before. One with a similar stock last 2 years and made good money buying the panic bottom on it while they cleaned up the prior auditors mess. It was CGYV.
Shame is not still trading, I could be buying sub dollar shares now.
I bet the shorts are unhappy too!!! They can not cover!!!
I have seen too many of them cut the dividend after the stock dropped 50% or more. Earthlink and PRGN to name two.
With the stock halted in trade, I guess right now is a good time for them to clean house and start over, regarding auditors and directors.
This will be interesting to watch!!!!
PR Newswire – 06/13/2011
SHENZHEN, China, June 13, 2011China BAK Battery, Inc. a leading global manufacturer of lithium-based battery cells, today announced that the Company has successfully achieved a turnaround in its cylindrical battery cells business for the month of May 2011. China BAK's operational results for the month of May 2011 indicate that the Company's cylindrical battery cell business is now profitable.
I bought in at $2, still holding. I am waiting to see if it goes to .50 to buy 500% more shares, if it gets there. I am in for the long haul on this one. Been watching this one for over 3 years. Been wanting shares for 3 years. Now thanks to those nasty shorts they are on a fire sale! This could be a $20 stock in 5 years IMHO.
Hard to say just how insane sellers will get here, before a hedge fund comes in and buys like crazy and runs it back to $3 or higher. We are already down to 1.5 PE ratio at this price.
I still do not believe this one is any kind of a fraud.
http://ir.convertedorganics.com/common/download/download.cfm?companyID=COIN&fileid=S1389445-11-5&filekey=1366340&filename=1389445-11-5.pdf
Another link to the CEO Form 4 showing him putting his own retirement IRA cash where his mouth is, finally!!!
COIN CEO Form 4 showed up today, He made numerous purchases between .075 and and .095 (apx) and bought nearly 630,000 shares for his IRA account between June 24th and today!
He is finally putting some of his own cash on the line, buying at retail!
You can see the details here if you are logged into a Fidelity broker account:
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=7687856
I have not taken the dip, and things have been very quite here.
Read that press on the hedge fund has me thinking what I would do if I had Hedge fund cash. I would let the shorts get out of control first, buy a bunch of calls at $2, then buy shares like a mad man at the close each day to make the shorts cover, then gap it up like crazy on day 4, sell the $2 calls, buy puts at $1, then dump the shares at about $2, hit and run style before any real news comes out.
Gerry's direct number as IR person was 877-662-3668, but I do not know if is still being used for that purpose? Try it as well!
Well that is a start for answering some questions, thanks for posting it! The part of that which is news to us is 3 of the named elements used in making the catalyst, Cobalt (I forget if they mentioned Cobalt before, they may have?), But I think the support material being Aluminum, and magnesium is news. Aluminum and magnesium silicate are common inert catalyst support materials in the reactors of most chemical plants.
But we still do not know for sure if this is the Canadian University catalyst. Is it a patent pending or a patent issued, where in the world is it issued and or pending (applied for or pending), and if it is the Canadian University catalyst, what are the terms of the license and how might the terms affect the economics down stream, is there a performance clause that could void the license deal we should know about? Payment terms and cost of the license???
One last thought, it may be that the last CABND catalyst inhouse invention turned out to be the same as the Canadian University one, it may just be that the Canadian's got to the patent office with an application first?
chilar, I the IR guy (Gerry) is now a director with a new phone number, and may even be on the road... since he is also now a director of the Canadian mining firm as well.
Long story short, there may not be a new IR person selected to replace him or answering that office phone right now, the phone may not be getting checked for messages yet? Try the main office and ask them who and what number to call now if you have time. I would, but I will be too busy this week. Thanks.
APWR trade was halted late today by NASDAQ asking for more info:
http://online.wsj.com/article/BT-CO-20110627-711041.html
I still think a bunch of these are good China companies with minor problems that shorts knew how to hammer, and SEC, Nasdaq, auditors and retail shareholders are all just running scared after Madoff and Enron, et. al., put them in the lime light, but only time will tell!
I am long CBAK, ABAT and CSGH in the China Battery sector. Oh, and Rita Power, a China Lead acid battery company, its shares were halted almost a month ago. CRTP. I was not long CRTP or APWR when trading halted, nor in any of the other 6 I was watching when they got halted. So far, my luck is holding out here. :)
This is what happens when you muck with the current auditors folks!
APWR trade was halted late today by NASDAQ asking for more info:
http://online.wsj.com/article/BT-CO-20110627-711041.html
I still think a bunch of these are good China companies with minor problems that shorts knew how to hammer, and SEC, Nasdaq, auditors and retail shareholders are all just running scared after Madoff and Enron, et. al., put them in the lime light, but only time will tell!
I am now long CSGH (as well as CBAK and ABAT).
APWR trade was halted late today by NASDAQ asking for more info:
http://online.wsj.com/article/BT-CO-20110627-711041.html
I still think a bunch of these are good China companies with minor problems that shorts knew how to hammer, and SEC, Nasdaq, auditors and retail shareholders are all just running scared after Madoff and Enron, et. al., put them in the lime light, but only time will tell!
Still long on ABAT (with a bid to add way down under), and I hope to buy APWR at .50 soon!
IIRC ABAT has already filled its last 8-K and 10-Q, so a late filling will not happen here.
Well you bag holders (LOL, JK, I was nearly one myself) here are in good company now. APWR trade was halted today by NASDAQ asking for more info:
http://online.wsj.com/article/BT-CO-20110627-711041.html
I still think a bunch of these are good China companies with minor problems that shorts knew how to hammer, and SEC, Nasdaq, auditors and retail shareholders are all just running scared after Madoff and Enron, et. al., put them in the lime light, but only time will tell!
Hopefully not long, I had hopes of getting .50/shares before all the panic is over here.
http://www.google.com/search?q=apwr+news&ie=utf-8&oe=utf-8&aq=t&rls=org.mozilla:en-US:official&client=firefox-a
http://online.wsj.com/article/BT-CO-20110627-711041.html
http://www.reuters.com/article/2011/06/27/china-accounting-apwr-idUSL3E7HR2T720110627
http://blogs.barrons.com/techtraderdaily/2011/06/27/a-power-shares-halted-auditor-resigns/?mod=BOLBlog
DOW JONES NEWSWIRES
A-Power Energy Generation Systems Ltd. (APWR) on Monday said its independent auditor has resigned, the latest setback for the Chinese company after it missed its original financial reporting target in April.
Shares were halted mid-Monday after the auditing firm, MSCM LLP, said in a letter dated Sunday that it couldn't complete its full audit because the company hadn't retained a qualified independent forensic accounting firm to evaluate certain business transactions. A-Power didn't detail the nature of the transactions.
The maker of wind turbines and power generators is one of at least a dozen Chinese companies that have seen their stocks halted amid auditing problems, accusations of mismanagement or other allegations of irregularity.
A-Power Energy was forced last week to review criticisms of itself published in an article on the financial commentary site SeekingAlpha.com, a emerging pattern among many Chinese companies traded in the U.S. through American depositary shares.
A-Power Energy in April postponed the release of its 2010 earnings to allow auditors more time to complete their work. At the time, A-Power Energy said "the scope of the audit field work" necessary "was not immediately recognized when the conference call was initially scheduled."
The company said it plans to meet with other qualified independent auditing firms, but its full-year report will be delayed beyond June 30.
The stock is off 68% in the past three months.
-By Drew FitzGerald, Dow Jones Newswires; 212-416-2909; Andrew.FitzGerald@dowjones.com
My charts show most of Fridays volume, 7.7 million shares, was a one minute sell candle just before the rally on low volume that doubled the price. The MACD and OBV also made no sense Friday. But I am holding over night in case they do it again at the close today, gap it up at the close or open like YRCW did the last 5 days!
I think my runaway just went over a cliff. It might go back to $1 at this rate then back $1.50?
Daytraders dream here. HFT machine dream as well.
We have a runaway folks!
I can hear the shorts right now, "Houston, We have a problem!!!" LOL
At this rate we will hit $3 by the close!!!!
10 million shares traded already!!!
I love a good squeeze in the morning!!!
Shorts must be getting nervous by now!
Up another 38% already today!
Can we reach $2 today?
Volume is already off the chart, 7.35 million shares at the noon hour!
Something is definitely up!!!
THE STOCK PRICE!!!!
GO YRCW!!!
Looks to me like a feeding frenzy is about start with uncovered shorts as the main course!!!!!
I don't see how getting paid in shares and selling them, versus getting paid in cash, constitutes any fraud of any kind? So far all see are signs of smoke, that may or may not be real. Only time will tell the rest of the story.
Thanks, I was just about to post it.
Also, if we can come up with a list of questions we have here, Scott is going to submit a list to Byron before the conference, and Byron will answer some of them in the conference call.
Either way I am hanging on with dry powder set aside if it takes another big plunge and falls under $1. Interestingly CBAK dropped to .93 (IIRC it was .93), and then took off like a scalded dog back up well over $1 with no news last week. Unlike ABAT, CBAK has had several years of running losses, but spends millions on Li-ion Battery R&D, and is selling for half of book value, but ABAT, if none of the numbers are fake, is a far better PE value based on its vertical integration move, and substantial profits (if they hold).
We should keep in mind that 25% of the float is already short on ABAT, so shorts may be in trouble if they do not cover soon, as $1 seems to be holding well, and ABAT should move sharply one way or the other pretty soon. My money is a run back to $2 next.
If I Recall Correctly. It means "If I Recall Correctly".
Thanks. Any idea what triggers the timing of rebalancing? Is there any predictability to it?
Was CYTR one of them? Any ideas on how that rebalancing process affects the stock(s) moving forward? Or any idea how to tell if the rebalancing added or removed shares from the current public float in any real quantity?