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CRTG recieves $2.5 million in financing to commerialize new materials , new chemical manufacturer deal to be announced soon ! Low float low share count
https://ir.thecoretecgroup.com/press-releases/detail/1337/the-coretec-group-completes-financing-agreement-with
CRTG recieves $2.5 million in financing to commerialize new materials , new chemical manufacturer deal to be announced soon ! Low float low share count !
https://ir.thecoretecgroup.com/press-releases/detail/1337/the-coretec-group-completes-financing-agreement-with
From the news release :
Funding to Accelerate Commercialization of Coretec's Proprietary CHS Technology
TULSA, OK / ACCESSWIRE / October 16, 2019 / The Coretec Group, Inc., (OTC PINK:CRTG) (the "Company"), a Company developing a portfolio of silicon-based materials ("CHS") to pursue commercial development of products in energy-focused verticals, and the Diversified Alpha Fund, LLP ("DAF"), a Cayman based regulated mutual fund, announced today they signed an Investment Agreement for a $2.5 million investment in The Coretec Group. The funding will take place over the next 15 months, beginning with the first advance received by the Company in October 2019. The instrument is interest only for 12 months with monthly principal and interest repayment over 36 months thereafter.
A CHS supplier has been identified and an agreement is expected in the near term. A number of parties have expressed non-binding interest in acquiring CHS once a source of supply is established.
Coretec CEO Michael Kraft said: "We're very pleased with the DAF investment. It allows us to build momentum in market adoption and commercialization activities. I thank Coretec shareholders for their continued confidence in Coretec and our technology portfolio."
Have you read through the agreement ? They pay off Golden State with the funds they recieve.You need to read through the entire agreement of the 2.5 million dollar loan and todays news release will help you understand it Heres what it says about Golden State.
Page 5
3.6 Golden State Investors. Prior to the initial Advance hereunder, the Borrower shall have entered into a written agreement with Golden State Investors
(“GSI”) to repay its Indebtedness to GSI immediately after the initial Advance in an amount not greater than Ninety Thousand and 00/100
th Dollars ($90,000.00).
Todays news release from the company
https://finance.yahoo.com/news/coretec-group-completes-financing-agreement-100000615.html
The Coretec Group Completes Financing Agreement with Diversified [/u]Alpha Fund
Funding to Accelerate Commercialization of Coretec's Proprietary CHS Technology
TULSA, OK / ACCESSWIRE / October 16, 2019 / The Coretec Group, Inc., (OTC PINK:CRTG) (the "Company"), a Company developing a portfolio of silicon-based materials ("CHS") to pursue commercial development of products in energy-focused verticals, and the Diversified Alpha Fund, LLP ("DAF"), a Cayman based regulated mutual fund, announced today they signed an Investment Agreement for a $2.5 million investment in The Coretec Group. The funding will take place over the next 15 months, beginning with the first advance received by the Company in October 2019. The instrument is interest only for 12 months with monthly principal and interest repayment over 36 months thereafter.
A CHS supplier has been identified and an agreement is expected in the near term. A number of parties have expressed non-binding interest in acquiring CHS once a source of supply is established.
Coretec CEO Michael Kraft said: "We're very pleased with the DAF investment. It allows us to build momentum in market adoption and commercialization activities. I thank Coretec shareholders for their continued confidence in Coretec and our technology portfolio."
The DAF funding will accelerate the commercialization of Coretec's proprietary CHS technology that could be targeted at enhancing performance in the following significant global markets: Li Ion Battery/Energy Storage Materials ($20B), Solar ($148B), LED ($22B), Semiconductor Materials ($50B), Medical QDots ($5B), and 3D Displays ($100B).
Simon Johnson, Fund Manager, said, "working with The Coretec Group and their associates has been an encouraging and enlightening process when we see what the future plans hold and the commercial potential of this business. The Fund is delighted to be working with the company and building on its previous successes."
Released October 16, 2019
New 8K filing , company raises 2.5 million in a loan that is associated with one of the companies board members C. Simon whos company Calton James was the inactor of the loan. Calton James Diversified Alpha Fund of Navigator Global Fund Manager Platform. Terms of the loan call for the paying off of all the companies debt namely Golden State $ 90,000 loan and advancements up to 175,000 a month if needed for the companies business plan needs.You can read through it yourself at the company website SEC fillings
On October 15, 2019, The Coretec Group, Inc. (the “Company”) received the first advance of financing under a credit agreement (the “Credit Agreement”) and related convertible promissory note (the “Note”) that the Company entered into, on October 11, 2019, with Diversified Alpha Fund of Navigator Global Fund Manager Platform SPC, a Grand Cayman entity (the “Lender”).
The Credit Agreement and Note, among other things, provide for borrowings by the Company from the Lender in an aggregate principal amount of up to $2,500,000, to be issued in advances from time to time in aggregate amounts not to exceed $175,000 in any thirty day period. Interest and fees payable under the Agreement shall be determined pursuant to the terms set forth in the Credit Agreement and Note.
I have never owned this stock but it was brought to my attention a while back so i follwed it just to see if this company could be successful on the US stock market . With the latest news that Washington DC is bringing serious sanctions to Turkeys economy how will investor sentiment be effected. The company as you have stated needs to release updated financials as well . How will the new sanctions and Trumps statement he could obliterate Turkeys economy effect investor confidence . Also , one whould have to decide if they wanted to invest in a companys stock whos country is at this moment are committing human rights violations and the US has stopped negotiations with respect to a 100 billion dollar trade deal with Turkey. These are real issues as well as many others this company has to overcome. Maybe they make it through but it appears to be a major uphill climb.
Victor and Simons ( company ) did loan more money THE LAST 2 QUARTERS ! Coretec said they were in confidential converstions in the Feb 25th update so maybe that has moved forward and they are still in a time where by law they cant say anything.I get it that you want someone to just at least say hello but that wouldn't do any good if they are in a situation were they cant talk about any possible developments in ongoing conversations .If that were the case the SEC has LAWS the company wouldn't break just for one shareholder who is impatient. If someone doesn't like an investment they are always free to get out of that investment.Im patient and not worried about it and feel in time we will get our update .
https://ir.thecoretecgroup.com/all-sec-filings/content/0001144204-17-016610/0001144204-17-016610.pdf
https://ir.thecoretecgroup.com/all-sec-filings/content/0001437749-19-018490/0001437749-19-018490.pdf
Transition code A on Form 4 meaning the CEO recieved an option that is defined , Rule 16b-3 Transaction Codes
A ,Grant, award or other acquisition pursuant to Rule 16b-3(d)
20.4% of all transactions •
Pegs Read "explanation of responces" at the bottom of form 3 and the latest filing form 4 [url][/url][tag]insert-text-here[/tag] if you wish to get a better understanding of the agreement the agreement here in form 3 is that the CEO will be given a right to purchase shares at a set price when company milestones were met.This agreement says up to 50,000 dollars worth of stock and a bonus .The price was set at 0.041 which is the price the option to purchase was authorized on Aug 7, 2019. That would put the number of shares at about 1.2 million not including the bonus shares agreement .But the CEO was given a right to purchase 10,000,000 shares which far exceeds the original number.We dont know what the milestones accomplished were but i would think it would lead to some kind of an event that would be made public when they have completed whatever it is they are doing. It must be good though or the CEO wouldnt get an option to buy 10 million shares .
Under Table II on Form 4 we can see what Transaction code A stands for
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
4. Transaction Code
(Instr. 8)
Code
A
Rule 16b-3 Transaction Codes
A - Grant, award or other acquisition pursuant to Rule 16b-3(d)
20.4% of all transactions • 47k transactions
In section .5 (A) stands for Acquired
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5
And below that it shows the number of shares acquired which was 10,000,000. The CEO must be doing something good for the company tho recieve a stock Option Grant.
At the bottom of the filing form 4 we can see last entry made :
Explanation of Responses:
*
(1) Although the Issuer authorized the option grant on August 7, 2019, the option agreement was executed and issued on September 13, 2019.
We can see this was an Option Grant as pointed out in the filing .
Form 4 transaction codes
Rule 16b-3 Transaction Codes
( A ) Grant, award or other acquisition pursuant to Rule 16b-3(d)
20.4% of all transactions • 47k transactions
Below : from the Form 4 filing for Companys CEO :
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5
(A)
10,000,000
From the Form 4 filing :
(1) Although the Issuer authorized the option grant on August 7, 2019, the option agreement was executed and issued on September 13, 2019.
The Option Grant was issued by the company to the CEO and the CFO Conversion or [/b]exercise price is 0.041 cents . Not sure the" Vesting period "for it wasn't listed as part of the Form 4
OPTION GRANT
An option grant is a right to acquire a set number of shares of stock of a company at a set price. Typically an option grant can be awarded to an employee, advisor or other individual who performs a service for the company, and the option can be exercised during the term of service to the company or for a finite period of time following cessation of services.
There are several terms that are important when considering whether to grant options including the per share exercise price, number of shares, vesting schedule (meaning, the schedule the defines when shares underlying the option may first be acquired), and the period of time in which the option can be exercised.
Stock Grants Vs. Stock Options
Stock Options
Stock options work by a company granting its employees a certain number of stock options at a set price, time-limited; the employee can purchase a set amount of stocks at a set price within a specified time frame. Generally, the amount the employees pay is less than the current market price. This gives the employees a bonus in the amount equal to the difference between the market value of the stock and the price they paid.
Stock Grants
Stock grants are designed to keep employees working for the company for a set period of time. For example, a company might grant a new employee 100 shares of stock vested over two years. This means that the employee will retain the stock only after two years of working there. If he leaves prior to vesting, he loses his stock in the company. This can be a powerful motivator in employee retention.
Stock Option Advantages
Stock options can bring greater value to the employee. For example, if an employee has an option to buy a stock at $6 per share and the stock rises sharply, the employee can purchase more stock for the option price, increasing his profit. Stock options are also more flexible, because, unlike grants, they frequently have an early exercise option, so an employee intending to leave the company can exercise his options before the end of the vesting period and garner some of the benefit without having to stay at the company.
Stock Grants Advantages
Stock grants have the benefit of being equitable property; that is, they have some intrinsic value. During times of stock market volatility, stock options can be valued less than the employee cost, making them worthless. Stock grants always retain at least some value because the employee did not purchase them outright. Additionally, some employees are not aware that they must take action to receive stock using a stock options, and they fail to exercise their options as a result. Stock grants remove that mishap by granting the stock to the employee outright.
Form 4 filed by CEO and CFO of the company > grant options
Many good things are happening for the Coretec The CEO said he has not lost FAITH and i have not either but am strong in Faith as well about Coretec and i believe the company will be successful as we can see many good things transpiring that i have listed 1) The company plan is outlined on thier website May 3, 2018 under shareholder letter CEO Update :
https://ir.thecoretecgroup.com/ceo-updates. I believe they are going to successfully complete thier mission. 2) The CEO shows through the Feb 25th 2019 update that the company is making good progress on that mission as they said they are in talks with an International Manufacturer and distribution company for a POTENTIAL PARTNERSHIP 3)The last 2 10 Qs show two board members , Keen and S. Caltons company CJNDL continue to advance money into the company 4) The last 10 Q shows that the company did a feasibility study ," $20,000 in cost incurred for a feasibility study " which i see as a good sign. 5) Ramez Ahmed Elgammal spoke at 2 conferances , An ECS meeting May 29th 2019 in Dallas for Coretec and an ECEE ( ECS ) meeting in Glasgow Scotland july 23rd 2019 for Coretec which i see as a very positive sign the company is doing good things to accomplish thier business plan.
From the CEO Feb 25th , 2019 update
We have surveyed the other options existing and are currently in detailed and confidential discussions with a major international supplier and potential distribution partner for our CHS. I wish to emphasize“our CHS” as we are focused on building unique Coretec CHS IP. We’re also working on funding, which is the lifeblood of early stage companies and there are two or possibly three options. The Coretec staff has worked diligently staying on task even with these many technology and financial issues. Shareholders, I am pleased to inform you that no one has left the team. We, the Coretec Team, remain steadfast in our belief that CHS (Si6H12) will be a valuable silicon precursor in the very near future to several significant applications and the only question remains is who will be supplying the CHS. We expect that supplier to be Coretec, and although the hurdles we have encountered have been more than expected, we have not lost faith and we hope that you have not as well.
Pegs , I believe its VERY CLEAR the business plan from the MAY 3RD 2018 SHAREHOLDER LETTER is the business plan that is still being worked on today !!! https://ir.thecoretecgroup.com/ceo-updates
Do you not believe that update from may 23rd 2018 is the companies business plan just because it was given to shareholders over a year ago ? I believe that is is clearly the business plan that Cortetec is still following today , if you choose to believe its not then thats your choice. What makes you believe that is not the companys business plan they are still following today ? Who told you it wasnt ? The company never announced that it wasnt still working on that plan, i just checked thier web site and there nothing to confirm your statement that they are not still today working on that plan,so where did you see this new info that its not ? It takes time to work through a business plan like that and patience i have and a hope and belief that Coretec will accomplish what they stated in the May 3rd 2018 shareholder update letter. Have a good day !
Tuesday at 10:40 , 18 ( AO1 ) Page 32 Ramez Ahmed Elgammal is listed as a speaker at the ECEE (ECS ) Bioelectrochemistry and Energy Storage Meeting in Glasgow Scotland July 23rd 2019 from the meeting July 21- 26 , 2019 .You can find it in the ECEE magazine. He is also listed in the Author Index with thier member names.
https://issuu.com/ecs1902/docs/2019-ecs-ecee-glasgow-mp
As i mentioned before i came across the ECS Abstracts involving Cycohexasilane when i was studying Cyclohexasilane and notice they were abstracts by Coretecs CTO and that he was listed as a speaker this summer :
Coretec Group CTO spoke at @ recent ECS ( Electrochemical Society )meeting this one on May 29th 2019 and the other July 23rd 2019 session 3 at 8:20 am at another session .
https://ecs.confex.com/ecs/235/meetingapp.cgi/Session/18805
The other can be seen from a list of " ECS MEETING ABSTRACTS " Coretec Groups CTO has listed at the ECS website for Coretec Group entries as well as others he has done if you wish to take the time to search it out .
The other was titled :
Tunable Syntheses of Advanced Silicon Anodes Using Cyclohexasilane
Lithium-ion Batteries: From the Design of New Electrode Materials and Electrolytes to the Performance and Recycling of Industrial Systems - Session 3 - Jul 23 2019 8:20AM
Ramez Ahmed Elgammal
.Ramez Elgammal was listed on both with The Coretec Group name with the enties .
http://ma.ecsdl.org/search?fulltext=ramez+elgammal+chs+&submit=yes&x=13&y=6
If you scroll down on this last one you can see 2 entries ( abstract titles ) showing Coretecs CTO spoke at the ECS meetings FOR THE CORETEC GROUP and you can read
the abstracts as well . This was also ecouraging to see !
Again in the Feb 25th 2019 update Coretec shows they are making
progress :
From Coretecs CEO :
It has been a long time since an update. I want to assure our shareholders we are still diligently working on Coretec’s major programs to create a successful company. You know we have challenges, as all early stage companies have, and on these we remain focused. We had to make a change in the source of our CHS and we severed our ties with NDSU because in many areas value was not being realized. We have surveyed the other options existing and are currently in detailed and confidential discussions with a major international supplier and potential distribution partner for our CHS. I wish to emphasize “our CHS” as we are focused on building unique Coretec CHS IP. We’re also working on funding, which is the lifeblood of early stage companies and there are two or possibly three options. The Coretec staff has worked diligently staying on task even with these many technology and financial issues. Shareholders, I am pleased to inform you that no one has left the team. We, the Coretec Team, remain steadfast in our belief that CHS (Si6H12) will be a valuable silicon precursor in the very near future to several significant applications and the only question remains is who will be supplying the CHS. We expect that supplier to be Coretec, and although the hurdles we have encountered have been more than expected, we have not lost faith and we hope that you have not as well.
We can clearly see the confidence Coretec has based on this update based on several positive statements made here in this update !! And since this update we have had Quarterly reports out showing positve signs as well in how to company is funding itself and only a very small amount of stock
dilution and the feasibility study that Coretec paid 20,000 dollars for i take as a good sign ! Choose for yourself what you believe i believe the Best is Yet to Come !!
I believe it is a great idea to devour the 10 Q and every document and update the company puts out and read it through including WHERE
THE MONEY IS COMING FROM ,how much was spent, how it was spent ,how many shares are outstanding from quarter to quarter , read it all and understand just what the company is doing. I fully understand that new Start Up companys take time to develop and with Coretec its ONLY BEEN 1 YEAR AND 3 MONTHS SINCE THE MAY 3RD 2018 PLAN WAS ANNOUNCED. I CONTINUE TO BELIEVE CORETEC WILL HAVE A GOOD OUTCOME ! I BELIEVE THE BEST IS YET TO COME ! I WILL NEVER DRAW BACK NEVER GIVE UP THIS BELIEF THAT CORETEC WILL BE SUCCESSFUL, NEVER !!!
From the May 3rd 2018 plan found on Coretecs web-site we can see
Coretec said they have a new Chemical Manufacturer :
Coretec’s new supplier of CHS is a major, highly respected chemical manufacturer. Terms of
that partnership will soon be announced, and Coretec is confident our new CHS suppler will
provide us with high quality, high purity CHS quickly, and we will attain superior application
results in our customer partnering efforts.
From the Feb 25th update : " We have surveyed the other options existing and are currently in detailed and confidential discussions with a major international supplier and potential distribution partner for our CHS."
THE COMPANY UPDATES AN QUARTERLY REPORTS SPEAK FOR THEMSELVES AND I LIKE WHAT I SEE AND CONTINUE TO BELIEVE !!
Pegs , The company plan was laid out May 3rd , 2018.
https://ir.thecoretecgroup.com/ceo-updates
The Feb 25th update reads as follows and i am VERY PLEASED AND EXCITED THAT THE CORETEC TEAM IS MAKING PROGRESS ACCORDING TO THIS UPDATE !
Update
Feb 25, 2019
It has been a long time since an update. I want to assure our shareholders we are still diligently working on Coretec’s major programs to create a successful company. You know we have challenges, as all early stage companies have, and on these we remain focused. We had to make a change in the source of our CHS and we severed our ties with NDSU because in many areas value was not being realized. We have surveyed the other options existing and are currently in detailed and confidential discussions with a major international supplier and potential distribution partner for our CHS. I wish to emphasize “our CHS” as we are focused on building unique Coretec CHS IP. We’re also working on funding, which is the lifeblood of early stage companies and there are two or possibly three options. The Coretec staff has worked diligently staying on task even with these many technology and financial issues. Shareholders, I am pleased to inform you that no one has left the team. We, the Coretec Team, remain steadfast in our belief that CHS (Si6H12) will be a valuable silicon precursor in the very near future to several significant applications and the only question remains is who will be supplying the CHS. We expect that supplier to be Coretec, and although the hurdles we have encountered have been more than expected, we have not lost faith and we hope that you have not as well.
Investing in any start up company requires PATIENCE especially with the change of company plans only a year and 3 months ago . Coretec started on a new plan May 3rd , 2018 and the update Feb 25th looks very promising to me and im VERY EXCITED ABOUT THE POSSIBILITIES HERE !!! [/u
As we can see from the last 2 Quaterly reports, the notes ( loans ) by Mr. Keen and Simon Caltons company CJNDL were drawn on and money was advanced by both parties. Some advances done during the quarter and some listed in subsequent events.( THE LAST 2 10 Qs )
https://ir.thecoretecgroup.com/all-sec-filings#document-22158-0001437749-19-016699
I like the fact that insiders are continuing to advance money in the LATEST PLAN CORETEC ANNOUNCED A LITTLE OVER A YEAR AGO AND THE FEB. UPDATE LOOKED VERY PROMISING . I CONTINUE TO CHOOSE TO BELIEVE IN THE CORETEC TEAM AND I WILL CONTINUE TO BELIEVE THEY WILL BE SUCCESSFUL IN THIER WORK TO COMPLETE THIER MISSION. ALL GREAT THINGS START SMALL AND BECOME SUCCESSFUL ONLY THROUGH PERSERVERANCE AND DEDICATION TO THE CAUSE AT HAND . I BELIEVE THE CORETEC TEAM IS DOING JUST THAT. THEY HAVE SHOWED GREAT COURAGE IN NOT GIVING UP AND MOVING FORWARD WITH THIER NEW PLAN OUTLINED MAY3RD 2018. THEY COUILD HAVE TROWN IN THE TOWEL AND GAVE UP BUT THEY DIDINT AND IM NEVER GOING TO BELIEVE ANYTHING BUT SUCCESS WILL BE CORETECS OUTCOME , NEVER !!!!!!!!!!!!!!!!
Pegs , I am very excited and very pleased with the path Coretec has taken which was laid out in the May 3rd , 2018 shareholder letter . The update Feb. 25th 2019 looked very promising as Mr.Kraft said they were in detailed confidential conversations with a International Manufacturer and potential distribution partner. I have NO COMPLAINTS at all! NONE ! I believe in the CEO and the team he has assembled and i believe they must have some good things going on if Mr.Keen and Simon Caltons company continue to invest in the Coretec . That speaks VERY LOUDLY to say the least . I have nothing but praise for the work the Coretec team has done as they work to move the ball forward and i believe they will get the job done and accomplish thier plan. !! Patience is needed by shareholders while the team works to move forward with thier plan !!
Notice : From the Design of New Electrode Materials and Electrolytes
This is the abstract heading from the July 23rd ,2019 ECS meeting
Tunable Syntheses of Advanced Silicon Anodes Using Cyclohexasilane
Lithium-ion Batteries: From the Design of New Electrode Materials and Electrolytes to the Performance and Recycling of Industrial Systems - Session 3 - Jul 23 2019 8:20AM
Ramez Ahmed Elgammal
Abstract 18
Elgammal Ramez Ahmed a a The Coretec Group 30 06 2019 25 6 2019 25 6 2019 MA2019-04 MA2019-04 MA2019-04 1 ;MA2019-04/1 1 MA2019-04/1 A01-Lithium-ion Batteries: From the Design of New Electrode Materials and Electrolytes to the Performance and Recycling of Industrial ...
I wouldn't know but its great to see ! I stumbled onto this ECS conference Coretec spoke at as i was studying CyclohexasiIane , Si6H12. I completely trust Mr. Kraft and believe he know what he's doing .There must be good reason they are in what looks like having " gone Quiet " which is probably a good sign. They can't just tell all during times described in the Feb 25th update while they are in what he called Detailed and confidential discussions with companies with ,more that likely ,non disclosure agreements in place during those talks. It does take time ,sometimes months to complete the work involved in completing a deal of some sort . There are legal rules and SEC rules to follow as some types of possible affiliations are trying to be worked through . I have no problem waiting for Mr.Kraft to be address shareholders . It looks to me he's on top of things.As we know from the 10Q Mr Keen and Mr. Calton ,both board members, put more money in the Coretec program and the manufacturer Mr. Kraft said last summer Coretec was working with must be doing Good things in their work with Coretec as we have proof the CTO is out presenting CHS at major conferences. I think the CEO must be doing a great job !!!!
Coretec Group CTO spoke at @ recent ECS ( Electrochemical Society )meeting this one on May 29th 2019 and the other July 23rd 2019 session 3 at 8:20 am at another session .
https://ecs.confex.com/ecs/235/meetingapp.cgi/Session/18805
The other can be seen from a list of " ECS MEETING ABSTRACTS " Coretec Groups CTO has listed at the ECS website for Coretec Group entries as well as others he has done if you wish to take the time to search it out .
The other was titled :
Tunable Syntheses of Advanced Silicon Anodes Using Cyclohexasilane
Lithium-ion Batteries: From the Design of New Electrode Materials and Electrolytes to the Performance and Recycling of Industrial Systems - Session 3 - Jul 23 2019 8:20AM
Ramez Ahmed Elgammal
.Ramez Elgammal was listed on both with The Coretec Group name with the enties .
http://ma.ecsdl.org/search?fulltext=ramez+elgammal+chs+&submit=yes&x=13&y=6
Pegs ,Coretec said they are creating thier own IP , thier own CHS and with that they would have to file patents once thats done to own thier newly developed IP . If they have filed any patents those patents cant be published for 12 months but they could use the technology and market it, so you couldnt view the patents yet so we dont know if they completed any of that work or not.They should let shareholders know if any new patents are filied i would think. They are making thier own IP and they would own that IP. Im not sure how that whole process works in developing new CHS IP that they can market and "OWN" but it doesnt go thru NDSU, they said they are working with a new Major Chemical Manufacturer last summer :
From the May 3rd 2018 CEO update letter " Coretec’s new supplier of CHS is a major, highly respected chemical manufacturer. Terms of
that partnership will soon be announced, and Coretec is confident our new CHS suppler will
provide us with high quality, high purity CHS quickly, and we will attain superior application
results in our customer partnering efforts".
Two insiders putting money into the company the last 2 quarters would lead one to believe that Coretec must be making positive progress towards thier goals .The 20,000 dollar cost toward a feasibility study that was in the last 10Q was interesting as well. If they are in detailed conversations with companies they wish to possibly work with then i would think they have non- disclosure agreements with those companies and Coretec would have to be quiet about any on going talks they are having so shareholders will just have to wait to see how all of that turns out. Time will tell.
From the Feb 25th 2019 CEO Update : " We have surveyed the other options existing and are currently in detailed and confidential discussions with a major international supplier and potential distribution partner for our CHS."
From the CEOs Feb 25th, 2019 Blog
We have surveyed the other options existing and are currently in detailed and confidential discussions with a major international supplier and potential distribution partner for our CHS.
"I wish to emphasize “our CHS” as we are focused on building unique Coretec CHS IP." Michael Kraft
From the May 3rd ,2018 CEO company plan :
Coretec’s strategy, that of creating value in the application space listed above thru the use of
CHS, remains unchanged. We are confident that we can provide advantageous cost, industrial
scalability, and high quality CHS in the applications we have identified and others we anticipate
developing. Many applications where Coretec is focused can achieve superior cost and
performance by using CHS, and we are committed to developing additional IP in these
application areas through use of, for example, National Labs, government grants, and jointly
developed IP with our customers and partners.
https://d1io3yog0oux5.cloudfront.net/_0b61ae24f4d5c7cdf24503f60053e486/thecoretecgroup/db/216/1355/pdf/CEO+Letter+FINAL+for+distribution+2018+05+03.pdf
Pegs ,i believe they are still working on that plan and only time will tell how successful Coretec will be . AS i mentioned before and you can see in the 10 Q 2 insiders in the company have put money into the plan this last 2 quarters. The best is yet to come !
Victor as well as Simon Caltons company invested money last quarter . One of Victors notes show a $100,000 increase in loans last quarter plus about $11,260 on another note. and Simons company put $75,000 more in , 60,000 under significant events from quarter 1 and $15,000 under significant event the 2nd quarter. They show $40,000 in research and development cost , $20,000 in cost for a feasibility study.
From the update Feb. 25th CEO update
We had to make a change in the source of our CHS and we severed our ties with NDSU because in many areas value was not being realized. We have surveyed the other options existing and are currently in detailed and confidential discussions with a major international supplier and potential distribution partner for our CHS. I wish to emphasize “our CHS” as we are focused on building unique Coretec CHS IP.
Pegs its obvious Coretec can create thier own chemicals and thier "OWN CHS" without NDSU and thats exactly what Mr. Kraft said in May of last summer they were doing with the new chemical manufacturer.This takes time but it looks as if they have made progress based on the update Feb 25th ,2019
From the May 3rd 2018
CEO UPDATE :
Recently it became clear to us that our relationship with NDSU does not fit the Coretec business
strategy of effectively commercializing CHS. We are now developing other manufacturing
processes, ones which we believe can be utilized more quickly, not have any exclusivity liability
or infringement risk, and with potentially better results. Accordingly, we have permitted the
NDSU optioned technologies to expire this past December as they were deemed unnecessary to
our business model and we are presently in discussions with NDSU regarding the NDSU License
Agreement.
Coretec’s strategy, that of creating value in the application space listed above thru the use of
CHS, remains unchanged. We are confident that we can provide advantageous cost, industrial
scalability, and high quality CHS in the applications we have identified and others we anticipate
developing. Many applications where Coretec is focused can achieve superior cost and
performance by using CHS, and we are committed to developing additional IP in these
application areas through use of, for example, National Labs, government grants, and jointly
developed IP with our customers and partners.
Coretecs new supplier of CHS is a major, highly respected chemical manufacturer. Terms of
that partnership will soon be announced, and Coretec is confident our new CHS suppler will
provide us with high quality, high purity CHS quickly, and we will attain superior application
results in our customer partnering efforts.
Pegs , thats been the plan all along and those things , developing new 'CHS IP " doesnt happen in a month or two , yes its been a year but i thought the Feb.25th update was good and insiders are still investing money in the plan according to the last quarterly report
Obviously they are ramping up spending for some reason to fund thier on-going plans. Michael was clear they were in talks from the Feb update with 2 companies and the $20,000 dollar feasibility study doesnt happen unless you have the prospect and doing something on a fairly large scale .Who knows exactly what Coretec is attempting to do but they are clearly working on a plan that is fairly large it seems to me based on paying 20,000 dollars for the report .
From a study on feasibility reports :
The price of a market feasibility study depends on variety of factors, such as regulations (highly regulated or unregulated), competition (high or low), market trends (positive or negative), project scope (narrow or broad), or politics (a new school is usually a highly charged political issue, whereas a new computer technology might be politically neutral). A few examples illustrate the range of possibilities: feasibility study pricing for a $5 million national technology roll-out might range from $15,000 to $30,000; feasibility study pricing for a $20 million school might range from $30,000 to $60,000; feasibility study pricing for a $500 million real estate development project might range from $35,000 to $70,000. Note that these are “typical” numbers; actual prices could be above or below these ranges.
Pegs , Coretec has been getting financing for one through thier existing relationships with CJNDL , Coretecs Board member Simon Caltons Company. You can take a look and see how much from more than one note they have with them Coretec has with CJNDL from the finacials if you look at the last 2 quarterly reports and the numbers , its all there , you can see they have been getting funding to move forward with thier plans.
During the six months ended June 30, 2019, there was $218,352 of net cash provided by financing activities, an increase of $215,910 or 8,842% compared to the six months ended June 30, 2018. The increase was a result of $245,000 increase in proceeds from note advances from related parties, offset by a $5,325 increase in payments on our insurance premium financing and a decrease of $23,765 in proceeds from exercise of warrants.
We expect to fund the ongoing operations through the existing financing in place and through raising additional funds as permitted by the terms of Golden State financing.
At least the 4 weeks before the 10Q was filed the company has to follow SEC rules . It involves public companies rules of operation
and IPOs though an IPO doesnt effect Coretec
During the four weeks prior to the close of the business quarter, which is known as "the quiet period." company executives are forbidden to speak to the public about the business in order to avoid giving analysts, journalists, certain registered investment advisors, private investors, and portfolio managers an unfair advantage - details that would amount to insider information.
RESULTS OF OPERATIONS FOR THE THREE MONTHS ENDED JUNE 30, 2019 COMPARED TO THE THREE MONTHS ENDED JUNE 30, 2018.
General and Administrative Expenses
Our general and administrative expenses were $170,359 for the three months ended June 30, 2019, as compared to $211,829 for the three months ended June 30, 2018. The approximately $41,000 net decrease is due primarily to a decrease in marketing cost of approximately $34,000, approximately $21,000 decrease in consulting fees, approximately $10,000 decrease in patent fees and approximately $5,000 in legal fees. These decreases were offset by increases of $3,000 in filing fees, $20,000 in cost incurred for a feasibility study and $2,000 in other expenses.
It looks to be the case where some business decisions require a feasibility study though im not sure if thats the case for Cortetec in thier decision to pay 20,000 dollars for a feasibility study
Why and when are feasibility studies called for :
Feasibility Studies
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When you have an idea or a location for a business venture that needs further exploration
When you lack all the information you need to make a sound business decision
When you are weighing alternatives among several projects or ideas
When you are considering expanding your business
When you wish to minimize your risk
When you are seeking financing for your project
Feasibility Study Components
Market Assessment including industry overview and target market demand
Competitor Assessment – both direct and indirect
Financial Assessment including start-up costs, revenue and income projections and sources of financing
Financial Projections including best case, most likely case and worst case scenarios
SWOT Analysis including Strengths, Weaknesses, Opportunities and Threats
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https://www.investopedia.com/terms/f/feasibility-study.asp Coretec invests $ 20,000 dollars into a feasibility study in the last quarter according to new 10Q report , has 33,840 cash as of June 30th 2019 and recieved $15,000 from Board member Simon Caltons company CJNDL and $ 218,32 in loans. Spending up ," feasibility study " analysis is still underway or been completed which looks to be at least one of the determining factors on Coretecs next step forward ! Look forward to hearing from Coretecs CEO with the next update !
Debts not that much for a start up company .Also the company had about 4000 dollars at the end of the year but as you noticed in the 10Q that Coretec spent 75,605 in operating activities in the first 3 months of the year .Also the 10Q shows that that money came from Victor Keen and CJNDL which is Simon Caltons company as you know both these guys are on the board of Coretec and the fact that they they continue financing the Company is a very good sign that the talks Michael Kraft talked of in the Feb 25th update must be going well. Yes Coretec can market CHS and get CHS through another source as NDSUs Process to scale CHS did not work but a process to scale CHS can and possibly has been created through the Chemical manufacturer Coretec mentioned in the May 3rd 2018 letter to shareholders . Go back and read that it was a basic blueprint of the new plan they have been obviously working through .!!
Feb 25th update From Michael Kraft : We had to make a change in the source of our CHS and we severed our ties with NDSU because in many areas value was not being realized. We have surveyed the other options existing and are currently in detailed and confidential discussions with a major international supplier and potential distribution partner for our CHS. I wish to emphasize “our CHS” as we are focused on building unique Coretec CHS IP.
Below are 2 recent Loans so the yes they did get loans regardless of having some debt.
From the 10Q May 15 : Net cash used in operating activities (75,605)
Subsequent to March 31, 2019, CJNDL advanced an additional $60,000 on the $500,000 14% Term loan due June 30, 2019, bringing the total borrowings on the note to
$520,941. CJNDL agreed that the excess amount funded and any future funding under the loan will be done on the same terms and conditions as the original note.
Subsequent to March 31, 2019, Victor Keen advanced an additional $15,000 on the $300,000 14% Term loan due June 30, 2019, bringing the total borrowings on the note
to $661,500. Keen previously agreed that the excess amount funded and any future funding under the loan will be done on the same terms and conditions as the original
note.
The May 3rd , 2018 letter shared the plan about going a different direction from working with NDSU and creating a new process with their new chemical manufacturer. They have been working on this for a year and are now in detailed confidential discussions with companies about partnerships and have located the funding options . Takes time and they have had only a small amount of shares added to the OS count . They said in the May letter they were moving forward without NDSU and that became official later on as we know which was no big surprise since they said they were doing that in the letter. CHS is available to commercialize with a process being developed first . As we know NDSUs process didn't work so they dropped that agreement and will develop IP from CHS with others is the plan laid out in the letter .You can read the plan in the letter . We will see how these talks come out hopefully soon they talked about in the Feb 25th update . We had to make a change in the source of our CHS and we severed our ties with NDSU because in many areas value was not being realized. We have surveyed the other options existing and are currently in detailed and confidential discussions with a major international supplier and potential distribution partner for our CHS. I wish to emphasize “our CHS” as we are focused on building unique Coretec CHS IP. We’re also working on funding, which is the lifeblood of early stage companies and there are two or possibly three options
May 3rd, 2018
Coretec Shareholders:
This is an update on recent activities of The Coretec Group, Inc. (“Coretec”) and to outline our plans for the near term as we pursue commercialization opportunities in Cyclohexasilane (“CHS”) technology and CSpace (volumetric 3D display).
In prior communications we have explained that CHS and other Silicon derivatives are at the forefront of promising current developments in applications such as medical use/drug delivery and monitoring, semiconductor processing, Si anode energy storage, and solar and LED efficiency. Coretec believes CHS is the premier Si derivative and is committed to CHS commercialization. We see continued interest in using CHS as the premier silicon-based precursor in this space. We plan to develop Intellectual Property (IP) in the applications space, both independently and in partnership with our customers; and in these cases and others we will strive to be the sole supplier of CHS.
As you know, our introduction to the opportunities inherent in CHS began with a licensee from North Dakota State University (“NDSU”) of its CHS technology. Our goal with licensing CHS technology was to secure a process for manufacturing CHS and then partner with our CHS volume manufacturer Gelest (“Gelest”) to make CHS for Coretec to sell to users in the applications described above. As application traction occurred, the goal was that Gelest would serve as our volume CHS supplier.
Recently it became clear to us that our relationship with NDSU does not fit the Coretec business strategy of effectively commercializing CHS. We are now developing other manufacturing processes, ones which we believe can be utilized more quickly, not have any exclusivity liability or infringement risk, and with potentially better results. Accordingly, we have permitted the NDSU optioned technologies to expire this past December as they were deemed unnecessary to our business model and we are presently in discussions with NDSU regarding the NDSU License Agreement.
Coretec’s strategy, that of creating value in the application space listed above thru the use of CHS, remains unchanged. We are confident that we can provide advantageous cost, industrial scalability, and high quality CHS in the applications we have identified and others we anticipate developing. Many applications where Coretec is focused can achieve superior cost and performance by using CHS, and we are committed to developing additional IP in these application areas through use of, for example, National Labs, government grants, and jointly developed IP with our customers and partners.
To accommodate the refinement of our strategy described above, our relationship with Gelest has been modified. Coretec and Gelest have mutually agreed to convert the CHS Supply Agreement, now cancelled, to an agreement under which Gelest will provide CHS storage and handling, website and catalog listing of CHS produced by or for Coretec for sale to its customers, and customer service including trans-fill of customer cylinders.
The Coretec Group, Inc. 6804 Canton Ave, STE 150 Tulsa, OK 74136-3419
Coretec’s new supplier of CHS is a major, highly respected chemical manufacturer. Terms of that partnership will soon be announced, and Coretec is confident our new CHS suppler will provide us with high quality, high purity CHS quickly, and we will attain superior application results in our customer partnering efforts.
As projected earlier, we anticipated revenues from CHS efforts by this quarter. Due to delays in the efforts with NDSU we did not hit those targets, however, with the ability to secure high level CHS from our new CHS manufacturing partner we are aggressively continuing our efforts to achieve revenue and secure partnerships in the near term. CHS remains a highly desirable advanced material that can provide superior cost and performance to many applications and we remain committed to working with potential partners to secure that value for our shareholders.
We are also continuing our efforts to move our development of CSpace (volumetric 3D display) forward through discussions with Adelaide University in Australia. The goal is to test a new image space material in partnership with the university and we are exploring options including a grant from the Australian government. Adelaide University is a renowned research facility in the area of glass and polymer doped image spaces. We are working to provide substantive updates in the next weeks and months on developing doped polymer capabilities in the CSpace product line.
We are committed to commercializing CHS and the tasks that make this happen. We are confident that once customers have a quality, stable source of CHS for evaluation use in their applications, we will be on our way to forging the best path forward for Coretec.
Sincerely,
Michael Kraft
CEO – The Coretec Group Inc.
The Coretec Group, Inc. 6804 Canton Ave, STE 150 Tulsa, OK 74136-3419
Michael Kraft has used several ways to make clear what he says in updates. For example he has said Coretec was in " initial discussions " , "continued discussions " or " advancing discussions " with companies Coretec has spoken with and now in the Feb 25th update Coretecs CEO said they are in confidential and detailed discussions with companies which makes it clear Coretec could be moving things forward in a positive direction . How this works out we will see in time . As always the Best is yet to come !!
Coretec doesn't need a deal with NDSU to create its OWN PROCESS for CHS with a chemical manufacturer and scale and market CHS . Michael Kraft knows what Coretec can do and made it very clear when he said , "Our CHS " on Feb 25th . NDSUs patented process not working to scale CHS is obvious and delayed things but
CHS can be marketed by Coretec and Coretec can have a Process developed if it hasn't already completed that step. Coretec stated in the May 3rd 2018 shareholder CEO update they had a new Major Chemical manufacturer and in the letter they said they were working on " A new Process " . The CEO made it clear on Feb. 25th in the " Update " that things were still moving forward . Patience now as Coretec said Feb 25th they were in talks with a couple of companies and also had 2 and maybe 3 sources for funding . The quarterly report comes out around May 14 or 15th. Hopefully a complete update on those talks soon !!
Pegs ,BELIEVE IT , SPEAK IT AND HOLD FAST AND WATCH GREAT THINGS HAPPEN FOR THIS NEW START UP COMPANY CALLED THE CORETEC GROUP WHICH I BELIEVE HAS THE BEST MANAGEMENT IN THE WORLD !!! GREAT THING ARE HAPPENING AND NOTHING CAN STOP IT !!!
Pegs , You and i as shareholders and all shareholders who are patient i believe will see great things .As you know and i know as well Coretec is completely under the radar and know one knows about CRTG WHICH HAS BEEN GREAT for buying stock at these low prices. The low stock price has been great for shareholders who want to buy . Thats exciting with, I BELIEVE , GREAT UPDATES AND GREAT PROGESS COMING !! IM Expecting great updates from the best management around . Ive been 1000% percent excited as a shareholder, as everyone knows , since i realized quite a while back how important it is to have what the company believes is the BEST SILICON ATOM ,SILICON PRECURSOR, OUT THERE THAT WILL REPLACE CONVENTIONAL PRECURSORS THAT HAVE BEEN HUGE REVENUE GENERATORS. Coretec i believe will be VERY SUCCESSFUL! As you know i am completely 100% that Coretec will be successful and as a shareholder of this great company im see great things coming .THE FUTURE IS BRIGHT ! All the CEO Blogs have pointed towards Coretec doing very well. Its hard not to get excited about what Coretec is doing based on the blogs of our great CEO ! All one has to do is read and re-read the blogs and its all there ,its obvious things are looking very good .TALK POSITIVE ,SPEAK POSITIVE AND WATCH GREAT THING HAPPEN RIGHT BEFORE YOUR EYES !!!! BELIEVE IN WHAT YOU DO 1000% AND GREAT THINGS WILL HAPPEN !!
HOW CAN ANYONE NOT BE TOTALLY JACKED ABOUT THIS KIND OF INFORMATION WHICH I COMPLETELY BELIEVE WILL TRANSPIRE INTO GREAT THINGS
From Michael Kraft himself !!!
As we have mentioned, we have continued to host discussions with several Si anode customers in consumer electronics and EV and they agree that based on several unique and novel methods to impart Si into the graphite anode, the path to higher energy density is silicon. To that effect, we are confident CHS (Si6H12) is the superior silicon precursor and can form Si nanomaterials and thin films at lower energy/temperatures and with higher purity. CHS represents a far better precursor choice over ANY other material. New materials development requires patience to commercialize, but knowing that other methods are failing, we firmly believe the future for battery design is high energy density batteries with Silicon anodes that have replaced conventional precursors with CHS.
Great things ahead for The Coretec Group as i believe thier CoretecHexaSilane ( CHS )which has been derived from Si6H12 , Cyclohexasilane through studies at NDSU starting in 1995 in thier work on investigating Silanes will be greatly successful !! Great article on Silicon applications which involves Triclorosilane which Coretec says they believe CHS will replace the TCS silicon precursor !!
4 major uses for silicon in technology
There are a variety of uses for the 14th element of the Periodic Table
Silicon is a chemical component that makes up 27.7% of the Earth’s crust by mass, making it one of most abundant elements present on our planet. It’s also one of the fundamental constituents of the universe and comes with useful properties such as being heat-resistant, electrically conductive, shiny, and brittle. That being said, there are a variety of uses for the 14th element on the Periodic Table. Below are four ways silicon is helpful in the world of technology.
Electronics
High-purity silicon is created by thermally decomposing the ultra-pure trichlorosilane. This process is followed by silicon’s recrystallisation, which is used to create many types of electronics, including semiconductors, transistors, printed circuit boards, and integrated circuits. For transistors, the material is doped by adding a small impurity which enables the electrons to move around, conduct electricity, and create reliable semiconductors for voltage. When heated into a molten state, silicon can be formed into semi-conductive wafers to serve as the base for integrated circuits, or microchips.
Silicone
Silicon is used to create silicone, which chemically are silicon-oxygen polymers with methyl groups attached. Silicone oil is typically used as a lubricant added to create cosmetics, hair conditioners, and shampoos. Silicone can also be used to create rubber for waterproof sealants in washrooms and windows, pipes and roofs. Because it’s a good insulator, silicone is used to create casings for electrical appliances. In the medical industry, silicone is used in certain implants, catheters, contact lenses, and bandages.
Solar panels
For the most part, solar cells and solar panels are created using silicon wafers, simply because of their semiconducting properties, as well as their abundance. Silicon has a solar band efficiency of 1.1 eV, which makes it a reasonable option to be used.
High power lasers
Pegs , Things look GREAT to me and the best is yet to come !! You seem convinced that Coretec will be very successful . Your right !! The Best is yet to come !!! Coretec management is the best around , GREAT COMPANY DOING GREAT THINGS FOR SURE !! CANT WAIT FOR THE NEXT UPDATE !!