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I emailed Gene Hunt at Beacon Power a few weeks ago and he said the funds raised will last them until near the end of the year. they will need more money then. instead of sell more shares they might try to get a loan. either way, the pps could take a hit. the key will be orders being made and maybe some money flow from that. like I said before, I am in long and may add some more down the road. if this thing does fly, it could be a 10 bagger.
Dear Paul *****:
Thank you very much for your email. We appreciate hearing from all investors and your questions are good ones.
1) The $10.6 million we raised last month is sufficient to complete the two projects you listed, and fund ongoing operations (which includes preparing for production of more flywheels after the prototype is finished,). It is enough cash to get us into the 4th quarter of this year. We have said that we need to raise additional capital this year in order to build the first full size frequency regulation plant in early 2008. That amount will likely come from the shelf registration we filed last year. The alternative to issuing more shares is debt, and to date we’ve avoided that route. We have said that as we get closer to putting the first commercial system into service -- and with the expectation that we will have one or more contracts in place for those services -- we would likely opt for project financing (rather than issue more shares) to raise the needed capital.
2) Regarding “pending sales” I can only say that we’re pursuing sales opportunities in various places. When we have something to announce there we certainly will. Gaining ISO certification in California as we did, along with the recent approval in New York, have certainly helped the cause in that regard.
3) Assuming building permits and grid interconnect agreements are in place, we believe we can build and connect a 20-MW frequency regulation plant in one year or less. Looking further ahead, this process is scalable in that we could subcontract much of the work to building firms and construct multiple plants each year.
4) You are correct in the total number of outstanding shares, approximately 71 million.
5) In fall 2006 we were on schedule to start construction of the first frequency regulation plant in second half 2007. That changed when our flywheel prototype malfunctioned in December and needed certain components redesigned. The schedule was effectively moved out by four months. We now plan to have the first megawatt in service in April 2008. The expected completion date for installing 10-20 megawatts of commercial regulation service did not change, however. That’s expected by the end of 2008.
A site for the first plant has not yet been selected. We are evaluating multiple possibilities and will choose the location that offers the best return on investment and long-term shareholder value.
6) The next newsletter will be Spring 2007 and it will be published in April – hopefully sooner than the Hannover Fair event.
Thank you for your support of Beacon Power. Please feel free to contact me at any time.
Kind regards,
Gene Hunt
************************
Director of Corporate Communications
Beacon Power Corporation
office: 978-661-2825
fax: 978-694-9127
email: hunt@beaconpower.com
************************
have a great weekend! -P
need to hit and hold $1.00 for 10 trading days over the next 170+ days or be delisted. I think BCON can do it, just need some action on sales and no more diluting. I added more earlier in the week and last while here in the low .80's and just sitting on it.
well, my order at .83 if filled. not sure if it was a good move or not. I am long on this one and really feel like we will trade sideways for a while. we need to see the pps get over and hold $1.00 10 days before the 180 day delisting rule is in affect. now that the testing in NY and CA was a success, hope we will get some news on sales.
cheers! -P
Beacon Power Announces Fourth-Quarter, Fiscal Year 2006 Results
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Last Update: 6:15 PM ET Mar 30, 2007
WILMINGTON, Mass., Mar 30, 2007 (BUSINESS WIRE) -- Beacon Power Corporation (BCON : beacon power corp com
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Last: 0.87-0.03-3.29%
3:58pm 03/30/2007
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BCON0.87, -0.03, -3.3%) , a company that designs and develops advanced products and services to support more stable, reliable and efficient electricity grid operation, announced its financial results for the fourth quarter and fiscal year ended December 31, 2006.
For the fiscal year ended December 31, 2006, Beacon Power reported a net loss of $12.3 million, or ($0.21) per share, compared with a net loss in 2005 of $9.3 million, or ($0.20) per share. The higher loss is primarily attributable to a non-cash charge of $2.3 million for stock compensation expense recorded upon the adoption of Statement of Financial Accounting Standards No. 123R (SFAS 123R) during 2006. SFAS 123R requires the expensing of share-based awards. The Company recorded a non-cash charge of $2,333,000 for the year ended December 31, 2006, and $646,000 for the year ended December 31, 2005, for share-based compensation expense, which is reflected in research and development expense and selling, general and administrative expenses. In addition, in 2006 we increased our spending on research and development of the Company's Smart Energy 25 flywheel.
Despite the increased expenses associated with the development of the Smart Energy 25 flywheel, net cash used in operating activities was actually reduced year over year, from $8.9 million in 2005 to $8.4 million in 2006.
For the fourth quarter of 2006, the Company reported a net loss of $2.9 million, or ($0.04) per share, compared to a net loss of $3.2 million, or ($0.07) per share, for the fourth quarter of 2005. The higher loss during the fourth quarter of 2005 was due to nonrecurring expenses of $1.3 million relating to a proposed acquisition that was terminated, partially offset by increases in stock compensation expense and research and development spending in 2006.
During the fourth quarter of 2006, Beacon Power incurred costs of $1,235,000 in selling, general and administrative expense, compared to $2,204,000 in the fourth quarter of 2005. Research and development expense was $1,285,000 during the fourth quarter of 2006, compared to $414,000 in the fourth quarter of 2005. Total operating expenses for the three months ended December 31, 2006, were $3,031,000 compared to $3,117,000 for the same period in 2005, which is a net decrease of $86,000.
At December 31, 2006, the Company had $5.3 million in cash and cash equivalents, with working capital of $3.3 million. On February 15, 2007, the Company raised an additional $10.6 million by selling approximately 11.8 million shares of common stock and warrants to purchase 5.9 million shares at an exercise price of $1.33 per share. Beacon will use these funds to complete the development of the Smart Energy 25 flywheel and Smart Energy Matrix(TM). The Company anticipates having its first commercial megawatt of frequency regulation in service in April 2008. The company will need to raise additional equity to execute its business plan and continue as a going concern. Because of the continued uncertainty of successfully completing the required financing, the Company's independent registered public accounting firm has maintained an explanatory paragraph related to a going concern uncertainty in their Audit Report on the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2006. The Company's key milestones achieved during 2006 included the following:
-- Built, installed and began formal field trial of flywheel frequency regulation demonstration system in New York State (with successful outcome in March 2007)
-- Began formal field trial of flywheel frequency regulation demonstration system in California (successfully completed in January 2007)
-- Awarded a $752,000 contract from the U.S. Department of Energy to design a 20-megawatt flywheel frequency regulation plant
-- Achieved full speed during development testing of next-generation Smart Energy 25 flywheel
-- Finalized an analysis highlighting the dramatic reduction in greenhouse gas emissions made possible by flywheel frequency regulation as compared to conventional methods
-- Received certification from the California ISO for the use of Beacon flywheel technology to provide regulation services in the state.
"In 2006 we made significant progress toward our goal of providing commercial frequency regulation services to the nation's electricity grid," said Bill Capp, Beacon President and CEO. "In 2007, we expect to complete development of our next-generation flywheel, the Smart Energy 25, which will be the core component of our commercial systems. We also expect to begin ramping up our manufacturing capacity on the Company's Smart Energy 25 flywheel, in addition completing the design of our 20-megawatt frequency regulation plant and choosing where to build the first facility. In 2008 we expect to begin providing commercial frequency regulation services to the grid."
maybe this will get them motivated to find ways to raise the pps.
Beacon Power Notified by Nasdaq of Possible Delisting of the Company's Common Stock
Company Has a Minimum of 180 Days to Meet Requirement
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Last Update: 6:00 PM ET Mar 30, 2007
WILMINGTON, Mass., Mar 30, 2007 (BUSINESS WIRE) -- Beacon Power Corporation (BCON : beacon power corp com
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Last: 0.87-0.03-3.29%
3:58pm 03/30/2007
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BCON0.87, -0.03, -3.3%) , a company that designs and develops advanced products and services to support more stable, reliable and efficient electricity grid operation, today announced that it has received a letter from the Nasdaq Stock Market dated March 27, 2007, indicating that for the last 30 consecutive business days, the bid price of the Company's common stock has closed below the minimum $1.00 per share requirement for continued inclusion on the Nasdaq Stock Market based on Marketplace Rule 4310(c)(4). In accordance with Marketplace Rule 4310(c)(8)(D), the Company has been provided 180 calendar days, or until September 24, 2007, to regain compliance. If at any time before September 24, 2007 the Company's common stock has a closing bid price of $1.00 or more for a minimum of 10 consecutive business days the Nasdaq Stock Market Staff will notify the Company that it complies with Rule 4310(c)(4).
If the Company has not met the requirements of Rule 4310(c)(4) by September 24, 2007 but meets any one of the three criteria as set forth in Marketplace Rule 4310(c) the Company will be granted an additional 180 calendar day compliance period to March 21, 2008.
About Beacon Power
Beacon Power Corporation designs and develops advanced products and services to support stable, reliable and efficient electricity grid operation. The Company's primary business strategy is to commercialize its patented flywheel energy storage technology to perform frequency regulation services on the grid. Beacon's Smart Energy Matrix, now in development following the successful conclusion of scale-power demonstrations in two states, is a prototype for a non-polluting, megawatt-level, utility-grade flywheel-based solution that would provide sustainable frequency regulation services. Beacon is a publicly traded company with its research, development and manufacturing facility in the U.S. For more information, visit www.beaconpower.com.
mine have been for sale for 6 months and no takers
waiting for the dip down to .80 to load up for more.
Hey Doc! Played any golf lately? My clubs have been put away for about 3 years now (egads). Our second child was born last year and just no time to play. Surely since your winter has been mild, you have played a few rounds.
Do you have any stocks you have been playing lately? BCON Beacon Power and TUTR Plato Learning are my new holdings. Staying away from holding pinkies long. Been in and out of a few (some up, some down). nevertheless, hope all is going well.
Wish the best for you and family, P
is this where we painfully watch it slowly go down to the 80's or might I say... the 70's (hope not)? I am in long on this one.
wonder how sales are going to be or when they will even start their sale pitch to power companies. NY and CA are great places to start (maybe thats why they did the testings there). does anyone know how long it takes to install one of these Flywheels? things should be clearer by this summer.
Have a great weekend. -P
mm's are slowly bringing BCON down. this is sad in one way but great for buying more. waiting for the dust to settle then I will add more.
MM's are bringing it down. @ .91.... will add more in the mid .80's. mm's can help you get more shares cheaply but hurt the one's you are holding.
BCON - is going to run today!
chart - http://stockcharts.com/h-sc/ui?s=BCON&p=D&b=5&g=0&id=p88009214248
pr - http://www.marketwatch.com/news/story/beacon-power-announces-successful-outcome/story.aspx?guid=%7BD...
Beacon Power Announces Successful Outcome of Flywheel Frequency Regulation Testing in New York
New York Independent System Operator (ISO) Says Beacon's Flywheel Technology is Viable for Use in the State's Power Grid
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Last Update: 1:57 PM ET Mar 22, 2007
WILMINGTON, Mass., Mar 22, 2007 (BUSINESS WIRE) -- Beacon Power Corporation (BCON : beacon power corp com
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Last: 0.94+0.11+13.25%
8:45am 03/23/2007
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BCON0.94, +0.11, +13.3%) , a company that designs and develops advanced products and services to support more stable, reliable and efficient electricity grid operation, today announced that the New York State Energy Research and Development Authority (NYSERDA) and the U.S. Department of Energy (DOE) have confirmed the successful outcome of field trial testing of Beacon's scale-power flywheel frequency regulation system in New York. In addition, the New York ISO, which operates the power grid, determined that Beacon's technology is viable for connection to the grid.
These milestones follow the January announcement that Beacon's first flywheel frequency regulation demonstration system had received certification from the California ISO after successfully completing its field trial in that state.
"After evaluating the test results and discussing Beacon's performance with representatives of the California ISO, we find the Beacon flywheel technology to be acceptable and viable for use in the New York ISO grid," said Michael Calimano, vice president of operations, New York ISO. "We are currently determining how the service would be integrated into our tariff structure, and we look forward to working with Beacon Power to implement this important new technology."
"NYSERDA is pleased with the successful outcome of Beacon's frequency regulation field trial that was performed in New York, in cooperation with our partners at the U.S. Department of Energy," said Peter R. Smith, president and CEO of NYSERDA. "We look forward to continuing our role in facilitating the commercial deployment of this innovative technology within New York's electricity grid."
Beacon's New York-based flywheel system field trial reached this milestone after the U.S. DOE (through Sandia National Laboratories, which co-monitored the demonstration with NYSERDA) concluded that the unit's performance had been successfully demonstrated and that additional testing was not required. The flywheel system will remain in place in Amsterdam, New York, to respond to any additional control methodology demonstration that may be requested by the New York ISO.
"This is another significant achievement for Beacon Power and a major step towards our goal of becoming the nation's first independent provider of frequency regulation services using our flywheel technology," said Bill Capp. "With both Smart Energy Matrix system field trials successfully concluded we can now focus on commercial implementation of this technology in our targeted grid operating regions."
Beacon's New York-based flywheel demonstration system was installed in March 2006 and began its formal field trial in June. The goal was to determine its ability to provide fast-response frequency regulation, as well as another ancillary service called reactive power. In comparison to California, where Beacon's system was controlled by a signal sent every four seconds by the grid operator, the New York system consistently responded to frequency variations it sensed through its direct grid connection. In addition, in cooperation with the New York ISO and a major international utility, the system also successfully demonstrated its ability to provide reactive power, a secondary service that the grid requires to maintain stability.
Beacon is now evaluating potential operation in California, New York, New England and the Mid-Atlantic regions for its commercial-sized frequency regulation plants, the first of which Beacon plans to build in 2008.
About NYSERDA
The New York State Energy Research and Development Authority (NYSERDA) was established by law in l975 as a public benefits corporation. NYSERDA provides energy-related technical and financial packaging assistance to businesses and institutions to promote energy efficiency and economic development, as well as providing energy research and development programs that promote safe and economical energy production efficiency technologies in New York State. NYSERDA also analyzes the effect of New York's energy, regulatory and environmental policies on the State's business, institutional, and residential energy consumers.
About the New York ISO
The New York Independent System Operator (NYISO) is a federally regulated, 501(c) 3 nonprofit corporation established in 1999 to facilitate the restructuring of New York's electric industry. The NYISO operates the state's high-voltage electric transmission system and administers the state's wholesale energy markets. The NYISO's market volume was $8.6 billion in 2006. For more information, visit www.nyiso.com.
About Beacon Power
Beacon Power Corporation designs and develops advanced products and services to support stable, reliable and efficient electricity grid operation. The Company's primary business strategy is to commercialize its patented flywheel energy storage technology to perform frequency regulation services on the grid. Beacon's Smart Energy Matrix, now being demonstrated on a scale-power level in two states, is a prototype for a non-polluting, megawatt-level, utility-grade flywheel-based solution that would provide sustainable frequency regulation services. Beacon is a publicly traded company with its research, development and manufacturing facility in the U.S. For more information, visit www.beaconpower.com.
Safe Harbor Statements under the Private Securities Litigation Reform Act of 1995: Material contained in this press release may include statements that are not historical facts and are considered "forward-looking" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect Beacon Power Corporation's current views about future events and financial performances. These forward-looking statements are identified by the use of terms and phrases such as "believe," "expect," "plan," "anticipate," and similar expressions identifying forward-looking statements. Investors should not rely on forward-looking statements because they are subject to a variety of risks, uncertainties, and other factors that could cause actual results to differ materially from Beacon Power Corporation's expectation. These factors include: a short operating history; a history of losses and anticipated continued losses from operations; a need to raise additional capital combined with a questionable ability to do so; conditions in target markets; no experience manufacturing any product or supplying frequency regulation services on a commercial basis; limited commercial contracts for sales to date; the dependence of sales on the achievement of product development and commercialization milestones, including design modifications that may be needed following a recent malfunction that occurred while testing a prototype flywheel; the uncertainty of the political and economic climate, and the different electrical grid characteristics and requirements of any foreign countries into which Beacon hopes to sell or operate, including the uncertainty of enforcing contracts, the different market structures, and the potential substantial fluctuation in currency exchange rates in those countries; significant technological challenges to successfully complete product development; dependence on third-party suppliers; intense competition from companies with greater financial resources, especially from companies that are already in the frequency regulation market; possible government regulation that would impede the ability to market products or services or affect market size; the complexity and other challenges of arranging project finance and resources for one or more frequency regulation power plants; possible product liability claims and the negative publicity which could result; any failure to protect intellectual property; retaining key executives and the possible need in the future to hire and retain key executives; the recent volatility in the stock price of companies operating in the same sector. These factors are elaborated upon and other factors may be disclosed from time to time in Beacon Power Corporation's filings with the Securities and Exchange Commission. Beacon Power Corporation expressly does not undertake any duty to update forward-looking statements.
SOURCE: Beacon Power Corporation
Beacon Power Corporation James Spiezio, 978-694-9121 spiezio@beaconpower.com or Gene Hunt, 978-694-9121 hunt@beaconpower.com Copyright Business Wire 2007 ********************************************************************** As of Sunday, 03-18-2007 23:59, the latest Comtex SmarTrend(SM) Alert, an automated pattern recognition system, indicated an UPTREND on 08-02-2006 for BCON @ $1.53. For more information on Comtex SmarTrend® Alert, contact your market data provider or go to www.CSTADirect.com SmarTrend is a registered trademark of Comtex News Network, Inc. Copyright © 2004-2007 Comtex News Network, Inc. All rights reserved.
BCON - view this promo of the Beacon Flywheel and see how this company could be a 10+ bagger.
http://www.beaconpower.com/flywheelspresentation.htm
3-22-07 pr- http://phx.corporate-ir.net/phoenix.zhtml?c=123367&p=irol-newsArticle&ID=977050&highligh....
http://stockcharts.com/h-sc/ui?s=BCON&p=D&b=5&g=0&id=p88009214248
web site - http://www.beaconpower.com/
BCON - here is another great play.. http://www.investorshub.com/boards/read_msg.asp?message_id=18128172
BCON - view this promo of the Beacon Flywheel and see how this company could be a 10+ bagger.
http://www.beaconpower.com/flywheelspresentation.htm
todays pr- http://phx.corporate-ir.net/phoenix.zhtml?c=123367&p=irol-newsArticle&ID=977050&highligh...
web site - http://www.beaconpower.com/
BCON - view this promo of the Beacon Flywheel and see how this company could be a 10+ bagger.
http://www.beaconpower.com/flywheelspresentation.htm
todays pr- http://phx.corporate-ir.net/phoenix.zhtml?c=123367&p=irol-newsArticle&ID=977050&highligh...
web site - http://www.beaconpower.com/
run Forest, run! .99
if it does.... my wife might hunt you down for jinking it. I added 10,000 more shares and my avg per share is now .865.
added alot more at .92
BCON - may see a buck by end of day! http://www.marketwatch.com/news/story/beacon-power-announces-successful-outcome/story.aspx?guid=%7BD...
nice pop to .92... is there news or since the .83 wall is down we can run a little?
I sent some money in to my account which will be available in the morning. will buy my shares back and maybe more. not much volume (yet) so will place an order in the low to mid .70's and should be filled.
I put in a sell order in at .80 for a quick flip from .67 when I bought... was going to cancel it last week an forgot it.. oh well, maybe I can rebuy on a dip.
all the sellers are out on TUTR and it is ready to run. chart looks prime!
http://stockcharts.com/h-sc/ui?s=TUTR&p=D&b=5&g=0&id=p99575107050
TUTR- chart has set-up nicely. the MACD and RSI are both rising from there lows and is way over sold. I see a good gain on this one.
http://stockcharts.com/h-sc/ui?s=TUTR&p=D&b=5&g=0&id=p22533299306
TUTR- this one is starting to make its approch to take-off. MACD and RSI is on the rise and is bouncing from it low. see chart.... http://stockcharts.com/h-sc/ui?s=TUTR&p=D&b=5&g=0&id=p
TUTR chart is perfect for a run.. http://stockcharts.com/h-sc/ui?s=TUTR&p=D&b=5&g=0&id=p52292712330
BCON needs to break .83 for some running room
IAG- looks like a bottom here. chart shows some signs of a rally.
http://stockcharts.com/h-sc/ui?s=IAG&p=D&b=5&g=0&id=p68601185951
thanks for the picks.. will check them out.
El Nino effect has upped the chances of hurricanes. being that I live in Florida, no hurricanes are nice. was brushed by both Charlie and Wilma and is sucks that I lost 2 large oak tree. atleast niether one hit the house. cleaning up the mess took weeks but I will not run out of fire wood for sometime.
June 1st is the beginning of hurricane season. does anyone have and good picks?
TUTR - chart looks perfect for a nice run.
http://stockcharts.com/h-sc/ui?s=TUTR&p=D&b=5&g=0&id=p55949680423
LEND- out at 11.44... glta holders
LEND- will mostlikely be a replay of yesterday.. opens high and trickles down all day. my sell order is already in!
happy trading, P
LEND- Accredited Home Lenders (LEND : accredited home lendrs hldg com
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Last: 8.95-1.95-17.89%
8:23am 03/20/2007
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LEND8.95, -1.95, -17.9%) said it received a $200 million term loan from Farallon Capital Management. In exchange, the San Diego mortgage company said it would issue to Farallon 3.3 million warrants to buy shares at $10 each, and will also be given the right to buy additional shares. Accredited Home Lenders will use the proceeds of the loan for funding mortgage loans and for general working capital. The stock closed Monday down $1.95 at $8.95.
I saw this clip on Good Morning America or something on Sunday. I bought in at the end of day at 8.93. If the samething happens tomorrow morning as it did today (large open then trickled down all day), I will sell in morning if the pullback is there and rebuy on the dip or just hold long and add more when the dust settles in a few more days or weeks.
Happy trading folks! -P