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Cool thanks, I was about to ask if you had received any correspondence, as I have not.
Bill
I called E-trade to ask about the CUSIP and any information that they may have received on XNRGI/NPWZ.
He spoke to one of the transaction managers.
It looks like eventually the stock will disappear from our accounts as they will not be holding it at the brokerage.
At this point in time, they are not holding the XNRGI shares and when the communication comes in from Broadridge it will give more detail on where the shares are being held and what election choices we have to make on those shares.
Bill
That should have happened by now.
Check with your broker to see whether they have any correspondence about XNRGI or NPWZ transactions.
You can also check with the transfer agent. They may be able to put you in touch with the other company working the process.
Corporate Stock Transfer, Inc.
3200 Cherry Creek Drive South, #430 Denver, CO 80209
Phone: 303-282-4800 Toll Free: 877-309-2764 Fax: 303-282-5800
Bill
It does not look like XNRGI will be at the International Battery Seminar.
Have they secured financing and are no longer looking for exposure for their technology or are they so cash strapped that they cannot afford to attend ?
Questions abound.
Bill
Low Float ?
1.5 billion share AS
1.393 billion OS
Those are as of end of Feb 2019.
The float number is low, but that's because it was last updated in 2016.
The only thing to look forward to here is a big reverse split when management decides to start milking this again.
Jmho
Bill
Unfortunately the management has showed us their mettle with the 3 month escapade which we just endured in order to get a lower stock valuation then we ever dreamed of.
They never gave us the information that they themselves decided to claim they would provide.
They never gave us any premium over the last trading day stock price.
We can assume that gives us a $1.80 per share valuation. The whole of the company valued at 15 million class A shares at $1.80 per share is $27,000,000 dollars.
In three years when they IPO at a multiple of that total valuation we will really know how much they have stolen from us by what share valuation they finally give us at that time.
Would it be better to sue them now or wait 3 years till they are worth something ?
They think that by providing us no information they can jig the numbers in whatever direction they want. Instead it will show the intent to defraud investors of their fair share.
When they want to go public again to reap the rewards of their hard work in " the dark" is when they will be most vulnerable.
Their valuation by then and the fact that they will have to provide audited information which can be used to track the size of the graft may be in our favor.
JMHO
Bill
Good find, that begs the question of where they could be sourcing the main component of those batteries, which is the Silicon Wafer.
http://www.sames.co.za
"For more than 25 years SAMES was the only commercial semiconductor manufacturing facility in Africa. When the SAMES Waferfab operation became outdated and could no longer meet more advanced semiconductor manufacturing requirements, ICDC needed to find alternative options to enable it to remain world leaders in the field of energy measurement and ASIC development."
They seem to meet the classification of wafer manufacturer that XNRGI wants to utilize for Battery Material. Outdated Fabs who need customers that want older tech, 200mm wafers.
Who knows ? XNRGI tells us nothing. I never received any letter from XNRGI or Corporate Stock Transfer.
jmho
Bill
I don't think this is a publicly traded entity.
I ran Google searches and that company came up but I do not think it is related.
I am not sure what they have done, but it may be related to the acquisition of funding.
Since we do not know and they will not tell us I guess we are in the dark until they decide to tell us.
jmho
Bill
I has asked before if there was a merger, as there was verbiage in my ETrade account transactions describing such a thing.
Now that I looked deeper in my Fidelity account I see the same reference to a "merger" .
So it does not look as if we were given XNRGI Class A shares in the exchange.
Did we quietly get the boot from XNRGI ? or did XNRGI merge with another entity to create XTRA Energy Corp ?
Sure would be nice to get a letter explaining what is going on.
jmho
Bill
Does anybody see anything like this ?
My Fidelity Account shows the XNRGI Cusip 984CNT014 and my shares in that account. However instead of showing XNRGI its shows the name as " XTRA Energy Corp SHS "
Is this a glitch ? Before it was showing " XNRGI INC COMMON STOCK CONTRA "
Bill
If that is indicating your cost basis, it would mean your average NEAH share cost was at .0003.
Everyones cost basis will be different.
The current value being 0 is the main problem here, in that I would think that the value should as least be equal to what was paid for the fractional shares.
That value would be a split adjusted $1.80/share.
Bill
Every couple of days I see more complete information in my Etrade account.
Currently it now shows the new forward exchanged shares numbers and as of this weekend it now has my cost basis included in my portfolio.
I was at an average of .00056/share pre-split and now showing a post split/forward exchange price adjust of $2.24 but the value of the shares shows as $0.00 so I show a 100% loss.
I have not received any letter about anything. We received the e-mail explaining " in a week or so " about 2 weeks ago.
They started the touting of the " two weeks " story on Jan 2 and here we are 2 months later with some of the process complete and much not complete.
It appears that the management of XNRGI are not capable or interested in telling the truth.
If they have a problem with the truth on something as simple as a letter, how much truth can we expect from them on their " Technology Platform " ?
JMHO
Bill
Its all in the letter. Didn't you get the letter ?
Neither did I.
I am not even sure what stock they gave us in the exchange. It does not say it is XNRGI Class A its XNRGI INC CONTRA.
I am pretty much done with this company. It's a pretty good assumption that this last whizbang chango at the last minute is another less than legal thing they pulled on us shareholders.
JMHO
Bill
How do you get $2.05/share based on $900/XNRGI share which was equivalent of 2,000,000 NEAH shares ?
900/500 = 1.8 per new XNRGI Inc Contra.
$2.05 X 500 = $1,025.00 per XNRGI post split share which is higher than what was paid for fractional.
BTW has anybody received any letter from XNRGI or the Transfer Agent ?
Bill
Thats what I have as a description on the first line of the reorganization. Now we just have to see what they say in the letter about a merger.
In the NV SOS registered Corporation they just changed the name.
Did they merge this with the New Jersey LLC ?
As they say in the farm belt. I AM CORNFUSED :(
JMHO
Bill
Interesting description for the mandatory exchange of shares.
This is not listed in my portfolio but is shown in the transactions page.
"Amount: $0.00
Description: XNRGI INC COMMON STOCK CONTRA SHRS RECEIVED THRU MERGER"
There was a merger ?
Works out to thousands of shares at ZERO value.
Bill
This is just the completion of their Corporate Action started on Nov 8, 2018.
I don't think it has anything to do with coming out of the dark.
Maybe we will get some insight from the "letter" supposedly coming out this week.
jmho
Bill
Nothing with my Fidelity or E-Trade accounts.
The math is right for the forward exchange of Class A. You can usually hover your cursor over the new CUSIP # and a window with a name will pop up.
Did they put a value on your shares ?
Bill
These guys at XNRGI cannot even write a letter without taking a full business quarter of a year.
And we expect them to develop a battery better than the rest of the industry ?
I'm starting to believe XNRGI is not exponential energy, but is instead exponential innuendo.
They started the process Nov 8. Barely paid the fractional more than 3 months later.
Somehow, they cannot let their grubby paws complete the share exchange to the class A.
Jmho
Bill
The big question after all of this, do they have funding to move forward ?
I hope these extra 3 months that they took gave them a chance to get some large funding, after all, the stock structure is no longer an issue and hopefully there are no problems with the battery.
Hopefully there is something more in the letter than the vague things we have always heard from D'Couto in the past. I am not holding my breath.
This company does a very good and consistent job of disappointing.
jmho
Bill
I never saw anything in the filings that showed DCouto had any class A shares.
He had less than 400,000,000 shares of NEAH so calculating a little high gives DCouto about 200 XNRGI at 900 a share.
So $180,000. This is a great jump off point if you plan to raise your value per share, not so good if this is where it ends.
The 1 for 2 million allowed them to drop the number of shareholders significantly. I dont think they will allow new shareholders to the stock that are not significant funders.
I think 1.80 will be the bottom for the class A shares. 2 of DCoutos most important shareholders who kept them alive in 2017 and 2018 hold millions of class A shares. I don't think he will try to screew them over.
Jmho
Bill
These $900 shares are supposed to forward exchange to 500 Class A shares so it will bring the cost per share to $1.80.
Will we be allowed to buy more ? Who knows.
We appear to be private now. So who knows .
Jmho
Bill
They did not put a value on the XNRGI shares. They just paid the fractional.
Although from the transaction description we know it will be 900/ sh
Bill
Did you go look at transactions ?
Bill
I can't wait to read " The Letter " I guess we will get that when shock #1 wears off.
I have not seen a valuation on the XNRGI Class A shares but the math suggests the $1.80/share.
Bill
That is what it looks like.
It appears that they took the difference between the bid and the ask on the last day.
Looks like the class A will be valued at $1.80/sh. No premium here.
Typical NEAH behavior.
I guess we will have to wait for the other shoe to drop. Lets hope they don't take another 3 months for the next step.
jmho
Bill
The 0. 39043 is the fractional. They divided your total stock by 2,000,000 and that is the remainder. They then multiply it by the $900/sh price for a whole share of XNRGI.
Nothing on the forward exchange of the post split XNRGI shares.
Bill
I am seeing some activity in my E-trade accts.
Looks like they paid the Fractional at .00045/sh. They seem to be valuing a XNRGI post split share at $900.00 instead of $1,000.00.
Bill
It is also possible that if they follow the way of the NEAH. We may not get anything again.
With these guys you have to set your expectations very low, then re-evaluate and drop them again, give up hope and then drop them some more.
Jmho
Bill
Who knows ? Let's see if we hear from them this week.
Bill
Thanks Oscar,
Pretty soon we will be on track for the Huge Announcement on April 1st.
Seriously though, thanks for forwarding the message.
Bill
But they were doing so well screwing investors with a home grown US company for over a decade.
Maybe they can Outsource the screwing and get it done cheaper in India.
JMHO
Bill
It sure does seem like it.
Who knows ? D'Couto is not the most honest guy in the world and the new investors may have figured it out.
Its interesting that Amobi Capital is now touting that they are in the Oil Dilling business. Maybe that was a payoff for hamstringing XNRGI so that they do not move forward with Lithium Metal Air battery development any time soon.
Those offshore Jack Up Drill Ships don't come cheap.
JMHO
Bill
I have not.
I think the stock would have to be surrendered in order to use as a tax loss.
The fractional shares disappeared with no remuneration, that may be able to be considered a loss just like stolen property.
That may be something worth pursuing
Plus maybe it will get XNRGI looked at closely by the IRS. Those dudes don't give up till they get paid.
Jmho
Bill
They have re-updated their annual List of Officers and Business Entity Filing status so they intend to be around for another year.
JMHO
Bill
Seriously while you own a few shares of post XNRGI which should be converted at some point to Class A. Your portion is miniscule compared to DCoutos.
DCouto was one of the largest shareholders of NEAH. I trust he will take care of himself. By proxy he will have to drag us along. Do you think he would give away or sacrifice 10 plus years of CEO stock compensation awards ?
It does not matter what he grants himself in the future . He will hurt his own and the boards of directors, and his tech advisors stock positions more than us if he cuts and runs.
Jmho
Bill
I agree completely.
They have essentially compressed everything down to the point where they have a low float stock structure like a new startup.
If believed, they have products ready to manufacture and start earning revenue.
The old way of doing things was directly tied to the death spiral financing.
Hopefully this long waiting period will result in proper financing , production and ultimately growth.
Jmho
Bill
Is this a sad attempt at distraction from the state of limbo that this stock has been forced into by the fiduciary failures of the CEO and Board of directors at XNRGI ?
This is a stock forum, please post your philosophical views on a forum created for that purpose.
Bill
I do not know for sure that they do have a relationship.
Amobi is a Private Equity company. So if there is a relationship, it would be to provide equity either through direct investment or through organizing the investment through another entity such as Helios Royal Energy.
Amobi Capital and Helios Royal Energy were incorporated by the same person.
I do not know whether these are dummy shells or valid corporations.
NEAH / XNRGI initiates fragile relationships with some very questionable partners and in the past these relationships have failed to fully materialize, grow and even be sustained.
Not sure of anything with this company.
jmho
Bill