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This just showed up in my email box:
Fulbright Briefing - Texas Legislature Joins Growing Number of States in Requiring Disclosure of Hydraulic Fracturing Fluids - June 2011
Keep in mind that the part of this well that will be fracked is 4 miles below the surface in a sparsely populated area.
There are parts of the world where the geology is very unforgiving, like the Edwards aquifer in Texas. Any liquid dropped on the ground in the Edwards aquifer recharge zone (think Austin Texas), typically hits the local drinking water well supply with in hours!!!!!
That is an extreme example, but a good example of why we need to police what we do with our resources. A few years back a local McDonalds hamburger joint got raked over the coals for an un-permitted waste water discharge because the location was inside the Edwards aquifer zone. YUK!
Therego the saying "Don't Mess with Texas!" LOL
Link?
I am short on time right now, but the easy (short) answer, is that it entirely depends on the geology first, some are far more risky than others.
I would not be fracking 5000 ft down right under Manhattan for all the gold in the world, LOL.
Then it depends on whether or not the work crews do a sloppy job or take too many risks (like they screw up the cement or liner job), or get a nasty surprise like BP did in the gulf last year (Opps).
MNLU BP#1 is way out in the boonies I think? Not in down town NY, so not an issue yet, IMHO here, unless one blows up like BP did and scares all the house wives in a heavy populated area with lots of money, like Hollywood!!!
But drinking water well contamination is nothing new for poorly designed or executed oil and gas exploration in the past, before we made it riskier with fracking. My hope, is that since this a vertical well, not horizontal, and it is 22,000 feet deep, and out in the boonies, I hope that it is not an issue for us. BUT!!!! If it stops fracking in other hot spot states, and slows other states down from drilling, it will boost NG prices, and that would help MNLU as I do not see them closing down the sites we are in!!!!!
The problem is that there has been a good old boy, turn your back and pretend you see nothing lack of permitting and oversight by many states, that are ill equipped to police the drillers. BP's Opps in the Gulf last year is a perfect example.
More news on Formic acid fuel cell improvements:
http://www.sciencedaily.com/releases/2011/06/110615062237.htm
MVTG could supply the Formic acid from CO2 conversion!!!!
I think this is the first time I have ever seen a stock rally from news that chose to let NASDAQ delist them and drop to the OTCBB.
That is why I posted the article link, because it was news and was pertinent to this stock, and because it affects NG exploration and thus this stock. I deleted your post because you went on an emotional rant into your political beliefs on the subject, which is "OFF Topic" and inflamatory.
Leave out the emotion, the ranting and the raving, and the blame game politics in your posts, please! Most of us here see two sides to the Fracking and pollution and environmental issues, not just the one side you seem to see. I do not want to start policing a flam war here over environmental politics.
I just rechecked some details on CBAK, now that we dropped under $1, to make sure I wanted to hang on or add more here.
Looking at Fidelity data, the Mutual funds and institutions have have been steady strong buyers of CBAK the last 2 quarters, and over 30% of the OS is owned by insiders who are not and have not been selling. Today's low was 40% of stock holders equity, book value per share, and losses have been steadily dropping quarter to quarter. They should go back to turning a profit this year!!!!
This is no nickel and dime China stock, the market cap at todays price is 23% of annual sales, and they have not been cooking the books, in fact they have reported losses as they wrote off bad debt and wrote down or wrote off old inventory the last 2 years, and tightened their operations, and raised prices (which is why their revenues dropped a few quarters back).
Book value is still over $2/share!!!
There a re a huge bunch of shorts on EK, so a short squeeze could huge.
Seems someone else noticed that. Todays SEC report changed it $2,500 per month, from 25,000 per month:
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On June 7, 2011, Mr. Tian Ye notified China Energy Recovery, Inc. (the “Company”) of his resignation from the Company’s Board of Directors, effective as of June 25, 2011. Mr. Tian Ye is resigning to pursue other business interests that have grown to take more of his business time. Also on June 7, 2011, Mrs. Zhou Jialing notified the Company of her resignation from the Company’s Board of Directors, effective immediately, for personal reasons.
On June 7, 2011, the Board of Directors appointed Dr. Yan Sum Kung and Mr. Jules Silbert as directors to replace the departing directors. In connection with their appointment to the Board, both Dr. Kung and Mr. Silbert received ten-year options to purchase up to 60,000 shares of the Company’s common stock. The options vest in eight equal quarterly installments on each of July 1, October 1, January 1 and April 1, beginning on July 1, 2011 and are exercisable at a price of $0.73 per share. Dr. Kung and Mr. Silbert are also entitled to receive cash compensation for their services as directors in the amount of $2,500 per month. Both Dr. Kung and Mr. Silbert are deemed by the Board to be independent directors.
Since June 1980, Dr, Kung has been Director of Chinachem Group, a property developer based in Hong Kong, and since January 2010, Dr. Kung has been Chairman of the Executive Committee. From September 1981 to December 2009, Dr. Kung was a practicing doctor in Hong Kong. The Board believes that Dr. Kung’s experience as a sophisticated property developer will contribute to the proper management of its assets and oversight of its financial development. Dr. Kung is fluent in English and Mandarin and Cantonese. Dr. Kung has been appointed to the Compensation Committee and Nominating Committee of the Board of Directors.
Mr. Jules Silbert, 83, has been a member of the board of directors of the Company since June 2011. Mr. Silbert has been an independent consultant since January 2002 focusing on marketing, e-commerce, consumer behavior and information technology systems, working with leading consumer retailers and direct marketing firms, among others. Prior to his consulting activities, Mr. Silbert was an Executive Vice President of Brylane, a private, then public, company, concentrating on strategic planning, growth initiatives, and business development from September 1991 until March 1999. Mr. Silbert was also a member of the board of directors of Brylane from 1991 to 1999. From 1983 to 1991, Mr. Silbert was the founder and principal of The Silbert Group, a management consulting firm focused on the direct marketing business segment. Prior to his management consulting firm, Mr. Silbert worked with General Electric and Lane Bryant, and was a member of the board of directors of Lane Bryant. Mr. Silbert has been a member of the boards of several private and public companies and non-profit entities. Mr. Silbert has a Bachelor of Electrical Engineering degree from NC State University, and has been involved as a member of senior management in strategic planning, and innovative growth strategies throughout his career. Mr. Silbert's background in electrical engineering, experience with leading US and international firms in industrial equipment marketing, consumer marketing, and information technology systems, together with extensive senior executive and board positions, will provide the Company with a wealth of management and marketing experiece and board and management governance enhancement. Mr. Silbert has been appointed to the Audit Committee and Nominating Committee of the Board of Directors.
Ms. Estelle Lau was appointed to the Compensation Committee and Audit Committee.
In addition, the Board adjusted the exercise price of Mr. Ye’s 500,000 options, granted to him in July 2009 in connection with his appointment to the Board, from $1.58 to $0.73 per share. The Board also adjusted the exercise price of current Board member Estelle Lau’s 60,000 options, granted to her in October 2009 in connection with her appointment to the Board, from $1.22 to $0.73 share.
Furthermore, the Board of Directors appointed Simon Dong as the Company’s acting Chief Financial Officer, replacing Qinghuan Wu, the Company’s Chief Executive Officer, who had been the Company’s acting Chief Financial Officer since November 2009.
Mr. Dong, age 31, has been the financial controller of the Company since November 2009, and since June 2011, the acting Chief Financial Officer. From December 2007 to November 2009, Mr. Dong was the Financial and Administrative Director of Media-Plus Group, a private company engaged in different businesses, including catering, retail sales, movies, comics and entertainment. From August 2002, to December 2007, Mr. Dong was employed by PricewaterhouseCoopers as a Manager, Assurance Services. Mr. Dong has a Bachelor of Arts in Economics from Fudan University, China.
The Board adopted an equity based awards plan, the 2011 Performance Equity Plan, which provides for up to 3,714,800 shares of common stock to be awarded by the Board or Compensation Committee, as stock options and other stock based awards. The plan provides that awards may be offered to directors, officers, employees and other consultants to the Company
Totally Bizzaro!!!!!
You call my buy at .10 today TINY VOLUME!!!!! How dare you sir! Them's fightin words!!!
LOL
What I do not get is why somebody sold at the close for a 20% loss after my buy? Why did they wait till near the close to sell? There was no volume here for days this week, IIRC (?), till my puny (LOL) order was placed.
I think it is time you called Larry and rattled his cage!!!!
Or maybe it is time we grabbed our tools and headed to Lafarge to build and install the pilot plant ourselves?
I have not heard from Larry in a while now, which makes me think he is extremely busy juggling multiple potential deals from China, India and Cleantech all at once, while trying to get the LaFarge PP rolling.
Well said. I have nearly started deleted posts here again (in fact I deleted one already this week), and it is a fine line we need to walk so let me try and draw the line.
People get emotional when they start mixing politics in with business and the environment. So here are the rules!!!!
Legislation, potential legislation, court cases, pending regulations, etc., of any kind that can affect this stock or NG prices, drilling, demand for NG, and competitive fuels and power, and environmental impacts, are all acceptable topics here as they relate to their potential effect on this company and its value, or ability to drill and produce, or cost advantage, or environmental advantages over other fuels and power sources.
Beyond that, it is OFF topic, and I will delete it!!!! Especially if it is inflammatory, derogatory, and tries to blame this or that group for this or that.......
All power sources and fuels have environmental impacts, but they are not the same, and our understanding of their impact changes with time. I have no doubt in my mind that some fracking operations have left behind unacceptable pollution and contamination, somewhere. And the recent news is just the beginning of a backlash, caused by some unscrupulous operators. I also have no doubt that some of the fracking reports of pollution were not caused by the local fracking.
The question for us, is how to measure its net probable outcome, and thus its affect on this stocks price.
Who's fault this or that is, is not a valid topic for this forum! This is not a political forum, so leave your politics at home please!!!
I think we are seeing people dump stocks like AEXP this week that have been flat lined for a good while, to buy oversold, blue chip stock bargains while they can, thinking they have time to get back in here in a few days, or even weeks. One of my other favorite plays is already up 80% this week, but it was one of the first to get clobbered in this sell off the last 4-6 weeks.
I was pleasantly surprised to see this third sell off / dump in the last 3-4 weeks here, not reach the .05/share level the first attack reached a few weeks ago, and the last 2 times someone dangled several hundred thousand shares at us at .06/share they were grabbed up likes kids eating candy! I almost missed them again today. I lost out on the .05s a few weeks ago and the recent .06's earlier this week. Volume is way up here, even higher than MNLU now, and the price is holding. A very good sign to see that kind of selling volume, on days when people are jumping out of the windows on WS (selling in everything in sight), LOL, and yet to see the bottom hold, and not even reach the prior lows.
I did!!!!
Today would have been a good day to be selling parachutes on the top floors of WallStreet!
In other news, MVTG headed the wrong way, and rallied!
They may run it down to .05 to shake out all the weak hands, before they rally it for the R/S. They will need to keep it above $1.00 post R/S (above .10 pre R/S), for 10 days minimum to buy another 6 months stay of execution from NASDAQ.
Interesting li-ion battery USA application news:
http://www.green-energy-news.com/nwslnks/clips611/jun11011.html
And they are targeting the train regenerative braking capacity, and grid frequency regulation at the same time!
Interesting li-ion battery USA application news:
http://www.green-energy-news.com/nwslnks/clips611/jun11011.html
Interesting li-ion battery USA application news:
http://www.green-energy-news.com/nwslnks/clips611/jun11011.html
Interesting li-ion battery USA application news:
http://www.green-energy-news.com/nwslnks/clips611/jun11011.html
I had a long drawn out debate here not long ago with some one who claimed any product that did not have FDA approval was a scam and fraud...etc. I posted a different point view. Here is one very well written, concise history of one example of why I do not trust the US FDA, and why I see a future for all natural health supplements.
http://articles.mercola.com/sites/articles/archive/2011/06/11/burzynski-the-movie.aspx
Burzynski, the Movie is the story of a medical doctor and Ph.D biochemist named Dr. Stanislaw Burzynski who won the largest, and possibly the most convoluted and intriguing legal battle against the Food and Drug Administration in American history.
In the 1970’s, Dr. Burzynski made a remarkable discovery that threatened to change the face of cancer treatment forever. His non-toxic gene-targeted cancer medicine could have helped save millions of lives over the last two decades had his discovery not been criminally suppressed by the US government, as his therapy, called “antineoplastons,” have been shown to effectively help cure some of the most “incurable” forms of terminal cancer.
This documentary takes you through the treacherous 14-year journey Dr. Burzynski and his patients have had to endure in order to finally obtain FDA-approved clinical trials of antineoplastons.
His story is yet another testament that fact can be far stranger than fiction, as the film exposes the powerful, unscrupulous forces that work to maintain the status quo of the medical- and pharmaceutical industry at any cost—including the lives of millions of people.
Some new fracking news I just ran across:
http://earthworksaction.org/PR_DOE-fracking-panel-WA-PA.cfm
Some new fracking news I just ran across:
http://earthworksaction.org/PR_DOE-fracking-panel-WA-PA.cfm
Little by little I see subtle signs of life here! Like Intact Nutrition being sold, or a link to it on the National Autism web site now!!!!
http://www.nationalautismassociation.org/categories.php?cat=42
I was redoing my DD, looking for any signs of new life on the internet for IFUS, and its products. I found one tonight!!! I am quite encouraged by this.
Thanks to Mercurial Mike for turning this up today!
http://www.thecuttingedgenews.com/index.php?article=52222&pageid=24&pagename=Society
News is out. They are doing a R/S, 10 shares turning into 1 share.
Actually it depends on the elevation of the lowest part of the road above flood stage, so it could happen sooner, if the road is higher.
I can't help but wonder if there is not a new game afoot in penny land. The new rules require MM's to list all the shares that are available for sale at a certain price now, and many of the MM's, after several weeks, are finally starting to comply now. But I wonder if they are not artificially stacking the decks now, with fake orders? I know the HFT machines are placing and canceling orders in milliseconds now on the big boards now, testing for weakness....
I placed an order earlier today for those .06 shares, and never got any!!!
Very interesting how the voting went on several issues!!!!!!
2. The ratification of CCR LLP as the Company's independent public accountant for the fiscal year ending December 31, 2011 (74,832,306 FOR, 2,278,912 AGAINST and 2,502,267 ABSTENTIONS);
3. The amendment of the Company's Certificate of Incorporation to increase the number of shares of common stock the Company is authorized to issue from 250,000,000 to 500,000,000 (55,191,508 FOR, 22,973,194 AGAINST and 1,448,783 ABSTENTIONS);
4. The authorization of the Board to further amend the Certificate of Incorporation to effect a reverse split of the Company's common stock within a range of 1-for-2 and 1-for-10 (59,079,340 FOR, 19,916,339 AGAINST and 617,806 ABSTENTIONS);
5. The issuance of 20% or more of the Company's common stock related to the Note and Warrants issued pursuant to the Securities Purchase Agreement entered into by the Company on April 1, 2011 (the "Purchase Agreement") (32,277,698 FOR, 6,656,535 AGAINST, 2,027,550 ABSTENTIONS, and 38,651,702 NONVOTES);
6. The future adjustments of the exercise prices of both the Series A and Series C Warrants below their floor prices in accordance with the terms of such warrants that were issued pursuant to the Purchase Agreement (30,576,903 FOR, 9,207,311 AGAINST and 1,177,569 ABSTENTIONS, and 38,651,702 NONVOTES); and
7. The future adjustments of the exercise prices of certain of the Company's currently outstanding Class E and Class F Warrants (30,868,646 FOR, 8,901,120 AGAINST, 1,192,017 ABSTENTIONS, and 38,651,702 NONVOTES).
There were no broker non-votes with respect to proposals 2, 3, and 4.
With all the volume, I can not help but wonder if news will soon follow?
I added to my share count today, added at $1.04
Not sure this is the bottom yet, holding dry powder to add more if it goes way under $1. Stockholder equity is still over $2/share, so if the ongoing losses continue, we are still buying equity here at 50% off on a major player in the li-ion battery market.
I noticed today that their losses on the last quarters nearly equal their heavy R&D expenses, which I doubt they are capitalizing? If I am right, and the R&D efforts are positive, this is even a better buy than it appears right now, as they are spending $2 million dollars per quarter on R&D!!! Also the losses nearly equal interest expenses on debt, so a JCI would probably buy these guys for a lot more than a $1/share if any M&A got rolling in the sector (XIDE has cash and may be eying Li-ion plays to buy!!!!). I still think they will start to turn a profit later this year. The next quarter may not be impressive if Japan (Tsunami, etc) hurt them this quarter, but it could have helped them if China filled a void in Japan capacity to produce and ship this quarter? And they just announced the E-Bike battery sales are taking off, which is one of the major profit centers that has ABAT making a good profit.
Shorts may start covering at $1 to avoid increased margin under $1/share. Also of interest, is that CBAK annual sales are nearly 4 times the current market cap, because the stock price is so low now!
Also 60% of the shares are owned by insiders and institutions!!!!
Any other news on CBEH?
Very unusual deal, and interesting news here today. The Private placement, sale of shares to inside officers at a premium to the main offer is most unusual, and the inside officer shares being bought will be restricted shares!!!
ZBB Energy Corporation (NYSE Amex: ZBB), a leading developer of intelligent, renewable energy power platforms, today announced that it has entered into a securities purchase agreement for a registered direct offering with several investors (the "Registered Direct Offering") to sell a total of 2,780,439 shares of common stock, for gross proceeds of $2,279,960 before deducting placement agent fees and estimated offering expenses. The shares will be sold for a per share purchase price of $0.82. MDB Capital Group, LLC acted as the placement agent for this offering.
ZBB also entered into stock purchase agreements with certain members of its board of directors, officers and advisors providing for the sale of a total of $247,500 of shares of common stock for a price per share equal to $0.92 which was the closing price of the Company's common stock on June 13, 2011 (the "Private Placement Transaction").
Eric Apfelbach, Chief Executive Officer of ZBB Energy Corporation, commented, "This financing not only strengthens our balance sheet, but also continues to demonstrate our ability to attract fundamental investors and raise money with attractive terms. The broad participation from Directors and Management is a reflection of the belief in the mission."
The transactions are expected to close on or about June 17, 2011, subject to satisfaction of customary closing conditions.
The shares to be sold in the Registered Direct Offering are being offered by ZBB Energy Corporation pursuant to a registration statement previously filed and declared effective by the Securities and Exchange Commission. The securities may be offered only by means of a prospectus. Copies of the final prospectus supplement and accompanying base prospectus relating to this offering may be obtained at the Securities and Exchange Commission's website at http://www.sec.gov.
The shares to be sold in the Private Placement Transaction are being sold without registration under the Securities Act of 1933, as amended (the "Act"), or state securities laws, in reliance on the exemptions provided by Section 4(2) of the Act and/or Regulation D promulgated thereunder and in reliance on similar exemptions under applicable state laws. Since these shares have not been registered, they may not be offered or sold by the investors absent registration or an applicable exemption from registration requirements, such as the exemption afforded by Rule 144 under the Act.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
About ZBB Energy Corporation
ZBB Energy Corporation (NYSE Amex: ZBB) provides advanced electrical power management platforms targeted at the growing global need for distributed renewable energy, energy efficiency, power quality, and grid modernization. ZBB and its power electronics subsidiary, Tier Electronics, LLC have developed a portfolio of intelligent power management platforms that directly integrate multiple renewable and conventional onsite generation sources with rechargeable zinc bromide flow batteries and other storage technology. The company also offers advanced systems to directly connect wind and solar equipment to the grid and systems that can form various levels of micro-grids. Tier Electronics participates in the energy efficiency markets through their hybrid vehicle control systems, and power quality markets with their line of regulation solutions. Together, these platforms solve a wide range of electrical system challenges in global markets for utility, governmental, commercial, industrial and residential end customers. A developer and manufacturer of its modular, scalable and environmentally friendly power systems ("ZESS POWR™"), ZBB Energy was founded in 1998 and is headquartered in Wisconsin, USA with offices also located in Perth, Western Australia. For more information, visit: http://www.zbbenergy.com
About MDB Capital Group
MDB Capital Group, LLC, Wall Street's only IP investment bank, is an institutional research and investment banking firm focusing exclusively on small cap companies possessing market changing, disruptive intellectual property. For more information on MDB Capital Group, visit: http://www.mdb.com.
Really!!!!???
Sounds like you over looked the 5 million dollars they borrowed from sharks about 6 months ago, that is about to be converted to another 100 million shares right now (which is why they needed the AS raised to 500 million, before the $5 million dollar debt is converted?
How did you get a $40 million dollar loss for Oppenheimer out of 17.5 million?
Looks to me like Oppenheimer needs .50/share average to break even and bail out. COINS sales year to year for May were flat on Fertilizer sales (Nice sales in March, but April was flat, which is NOT good!!). No new sales on Terra since the merger, 8 months now, and they take over a Terra license in NJ(IIRC? the location), that failed to pay up? Waster water division needs funding to lease new WW plants, which it does not seem to be able to get per last CC.
Only good news I see is the immediate R/S saves them from a NASDAQ delisting right away, but rest assured shorts will push it hard down to $1, which is .10/share today. I just do not see any hope here. I had high hopes in November last year, but the $5 million in shark loans, and 90% dilution (not counting Oppenheimer) that came with it, and poor sales and ongoing losses, "the never ending story", has me wishing I sold a year ago and never looked back.
Now there are so many shares out there, even after a R/S, and no real signs of turn around, I don't see how the stock can ever rally? Only single news I can see that push it up would be something Walmart buying 2-3 Terra plants for millions of dollars. I see no signs of that happening either.
Are you suggesting that Oppenheimer also let the stock price crash to maximize the number of common shares they get for each preferred share? Do you have info (links, or cut and paste the exact data), showing there was a variable conversion rate for Oppenheimer preferred shares based on the common price at conversion time? I do not recall seeing it, but if it is true, I would like see it. It might give us all some glimmer of hope, that Oppenheimer might do a pump and dump this year, instead of just a dump?
I know that is what the last loan sharks were doing to COIN, driving the price down (I don't know that we were ever told who the loans sharks were?), to get 10 shares instead of 1 or 2 for the last money they loaned COIN (convertable debt).
What worries me now is the last two 5 million dollar loans that are getting converted to common next at .15/share, that the new people will want to dump, and then all the old Terra share holders, now COIN share holders from the Terra merger, their shares become unrestricted any day now, IIRC.
If any of them start selling (assuming they did not already do so and cause the recent sell off), in any quantity, we could reach .01/share this year (or .10/share R/S on the 10:1 R/S).
This is now the biggest Cr*p shoot I have ever seen!!!
Converted Organics Inc. (Nasdaq:COIN) announced the results of its Annual Meeting of Shareholders held yesterday at the Millennium Bostonian Hotel in Boston, MA. Shareholders at the meeting considered and approved all matters as recommended by the Board of Directors as follows:
* Reelected John DeVillars and Marshall Sterman to the Board of Directors.
* Ratified the appointment of CCR LLP as its independent public accountant.
* Increased the number of authorized shares of common stock to 500,000,000.
* Authorized the Board to consider a reverse stock split.
* Approved the issuance of common stock and matters related to previously announced April 1, 2011 financing.
* Approved future adjustments of the exercise prices of certain of the Company's currently outstanding Warrants
John DeVillars and Marshall Sterman have served as members of Converted Organics' Board of Directors since June of 2006, and July of 2010, respectively. CCR LLP has served as Converted Organics' independent public accountant since 2005.
"The Company is pleased with the results of today's Annual Meeting of Shareholders," said Edward J. Gildea, President and CEO of Converted Organics. "We appreciate the support shown by our shareholders and look forward to the remainder of the year as we continue to develop our existing lines of clean technology businesses and pursue available growth opportunities."
Following the Annual Meeting of Shareholders, the Board of Directors held a meeting at which they voted in favor of a 1-for-10 reverse split of the Company's stock. The Company has notified NASDAQ and expects the split to be effective June 28, 2011.