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New PR today.
Solar Wind Energy Tower, Inc. Updates Business Activities
May 02, 2017
Since Release
ANNAPOLIS, MD--(Marketwired - May 2, 2017) - Solar Wind Energy Tower, Inc. (OTC PINK: SWET) (the "Company"), the innovator and creator behind the Solar Wind Downdraft Tower structures capable of producing abundant, inexpensive electricity to meet the world's increasing demand, announced today the following business update.
The Company has received an equity infusion of $220,000 from eleven existing shareholders. Engineering and Tower/ Tunnel modeling by our expert consultants continues on a daily basis as we decide on the final height of the Tower and the number and length of the tunnels. Any reduction in the height/number of tunnels/length of tunnels can significantly lower the total cost of the project.
The Company owns proprietary software programs it developed to compute the output data of the Tower but it takes time to evaluate any changes. For example: data points in the 2,250' tall Tower that ranges up to 1,500' in diameter are located every 2 meters apart vertically and 4 meters apart horizontally. A full tower analysis runs over 150,000 iterations. That translates into nearly 100 hours of non-stop computing on the dedicated computer. As we near the final design it is imperative that the conclusions reached will be verifiable to support the due diligence that will be required to close financing for the project.
The potential licensee for our Tower solution in Kenya, Africa is aggressively pursuing his project. The Company is now in contact with them several times a week. In order for the Kenya Tower Project to move forward with Company support it will be necessary for the developer to execute a definitive agreement for a Kenya license and pay the Company a license fee. Our business model includes a one-time license fee for a territory (in this case Kenya), development fees for support during construction, and an annual royalty fee for 20-25 years based on the number of kilowatt hours produced.
On March 27 we announced that SWET had established a new company, Solar RePurposing Systems LLC, to pursue using our downdraft Tower energy solution to retrofit existing abandoned smoke stacks and that an industry consultant had been engaged to direct us into the market. At this time we can report that initial discussions have been received very positively and we are pursuing meetings regarding a targeted site for a potential first project.
The Company prepared the three 10Q's due for 2016 and submitted them to our auditors two weeks ago for review. The company plans to file each 10Q as soon as the auditor completes its review.
About Solar Wind Energy Tower, Inc.
Founded in 2010, Solar Wind Energy Tower, Inc., and its wholly owned commercializing subsidiary, Solar Wind Energy, Inc., is the inventor of the patented Solar Wind Downdraft Tower, which uses state of the art technologies and construction systems to produce abundant, inexpensive electricity, 24 hours a day, 7 days a week.
The Company's core objective and focus is to become a leading enabler of clean, efficient renewable energy to world communities, at a reasonable cost, without the destructive residuals of fossil fuels, while continuing to generate innovative technological solutions to meet tomorrow's electrical power needs.
For more information, please visit:
http://www.solarwindenergytower.com, and https://www.facebook.com/solarwindenergytower and https://twitter.com/SWETower and https://www.arizonagreenpower.com
Cautionary Note Regarding Forward-Looking Statements
Statements included in this release may constitute "forward-looking statements". Actual results may differ materially from those projected in forward-looking statements. Such statements involve a number of risks and uncertainties such as competitive factors, technological development, market demand and the Company's ability to obtain new contracts and accurately estimate revenues, if any, due to variability in size, scope and duration of projects, and internal issues in the sponsoring client. Further information on potential factors that could affect the Company's financial results, can be found in the Company's various filings with the Securities and Exchange Commission (SEC).
Contact:
Solar Wind Energy Tower, Inc.
Phone: 410-972-4713
E-mail: info@SWETower.com
News powered by iR Direct — Copyright © 2017 Issuer Direct Corporation.
All Rights Reserved.
CONVERTIBLE NOTES
Pickett is too sneaky to sell shares through the insiders. That's just too obvious. Every idiot on the planet would see what's going on if he did that.
Like I said, he's been motivated to do something since he's been getting warning letters.
He's probably been living the high life enjoying all the money he's swindled from the SWET investors.
He doesn't want to lose his gravy train.
Yeah, I think that this is intended to be used in a timely manner. It's supposed to be an actual notification that it's going to be late.
We already figured that out a long time ago.
I totally agree with you on that. The SEC, like many other Government bureaucracies, is running on antiquated and cumbersome systems and rules. Plus, they only have so much they can do with the manpower they have.
The OTC is basically the Wild Wild West of stocks. It's basically doing business in the back alley and in the dark. You REALLY have to do something to get the SEC to take notice.
With RIVT they didn't act right away and when they did they just shut it down. The ones who were hurt the most by the shutdown were the shorts. They had to pay interest and a good chunk of their accounts were tied up with the margin requirements. I followed it for a while. Eventually, I lost interest. Last I was people were trying to set up off market transactions to GTFO of their positions. I don't know how it ended or whether it ever did.
What a flipping disaster.
Literally....
Things are pretty computerized in today's World. Isn't it possible that a letter would be sent out automatically? Kinda like when you are late on a payment? They usually go through several letters of warning with increased emphasis as time goes by.
Yeah, I knew that I might be wrong about that. I've seen a few zombie tickers that should have been shut down long ago still making the line of the chart wiggle.
The most memorable was RIVT. That one just blew up out of nowhere. Rumors were spread that they were going to be supplying Tesla. Millions were made on that one and millions were lost as well. It was a one in a Trillion thing.
I was wondering about the time frame for being further downgraded or delisted. One full year of not filing sounds reasonable for a company to attract the attention of the SEC.
I'm totally sure that it is just a coincidence that ol Ronnie decided to drop the Q he'd been delinquent at just about the one year mark.
I would guess that they send out letters warning that action is being planned and that a company has a deadline for providing the paperwork or face consequences.
At least we know when we can expect to see the 2016 paperwork. Should be sometime early in 2018.
Solar truly is the way of the future.
This looks like a better play than SWET. At least they have a prototype.
https://motherboard.vice.com/en_us/article/this-fiber-optic-toilet-burns-poop-with-the-power-of-the-sun
How many penny stocks are trying to sell PPAs? My guess is somewhere very very close to 0.
How many penny stocks have signed PPAs with a buyer of electricity? I'm 99.9999% sure that number is exactly 0.
Care to refute that with some fundamentals?
Funny thing about PPAs they're binding. So far Ron has avoided signing anything remotely binding.
A binding contract in this case would guarantee that one company is going to be buying electricity and the other is going to provide it.
There isn't room for an experimental design in a binding contract. Especially when the company is a penny stock with no income and no assets.
If SWET doesn't deliver they would be liable for damages.
If the tower design is unproven and the company cannot pay damages there isn't much incentive for a buyer of electricity to take the risk.
So a power plant that runs on water that by design must be built in extreme desert conditions sounds like the future?
Isn't a desert extremely dry?
That's the definition of a desert, right?
Wouldn't a better solution be a solar power station that doesn't consume precious water?
Something like this maybe?
https://en.m.wikipedia.org/wiki/Ivanpah_Solar_Power_Facility
How can this possibly be a good idea?
That's a whole lot of convertible notes.
Probably about a year away.
Ron probably got the letter that the SEC was going to push them further down the ranks if he didn't file.
It's hard enough selling pink.
Gray is too sketchy even for most of the degenerate gamblers in the OTC.
Only place the company ever got cash was through convertible notes.
We the investors have been paying for their salary since the company began.
I made a general post on the board sharing my thoughts and knowledge about SWET. It wasn't directed to you. You're the one trying to turn it into an argument.
Isn't dark pool trading basically what I said? They are trading amongst their own associates.
ISN'T THAT SUSPICIOUS?
You seem a little emotional over my pessimistic posts lately. It's obvious that I have you a little rattled and that you'd rather I go away. I been here for years. I've seen many of your kind come and go.
If you are a true believer, as you say you are, what does anything I say matter?
Rising prices should be validating your opinion. You should be getting more confident in the long term success of the company.
Why is it so important to keep up the appearance of enthusiasm on the board? What does the short term price really matter to someone who is in it for the long haul?
Sometimes you just gotta read between the lines. The truth isn't always what it seems.
You're obviously just flipping shares like the rest of these enthusiasts.
It's been proven on previous transactions that there was not enough volume in the market for the days they claimed.
That's common knowledge to those who have followed this for years.
I don't think that Ron is in the habit of giving refunds to those who want to get out. Money only flows one direction around here.
Did you miss the astronomically high shareholders deficit in no the 10K?
Why would they be adding at 4?
First off no money was exchanged. It was a trade on paper. It was not a open market transaction. Ron's never are.
That should have been obvious.
I guess the rest isn't obvious either...
Because it gives the appearance that the insiders think that they'll eventually get their money out of the shares. That implies that the project is actually moving forward and, most importantly, GETS THE GULLIBLE TO BUY SHARES.
Shares sold by the note holders whomever they might be.
It's a well known fact that Ron has written convertible notes that are below the threshold of reporting.
Pretty easy to do when there are so many shares floating around.
Just because the insiders are accumulating shares doesn't mean that they're not selling company shares through nefarious pathways.
Those who were paying attention to the details that mattered would have noticed that Ron started writing convertible notes that were just below the threshold of having to report any transactions.
Isn't that suspicious?
That's the sign of a real master pump. Don't drop all of your cards at the same time. Subtle but noticeable...
You guys are making Ron SO HAPPY.
The new shares are on the shelf. They just did an offering recently which is shown in the sharp drop. They are just replacing the shelf.
IMO, when they are planning to use the shelf is to ramp up production once they're approved.
Make sure you look at the 10 year chart as well. WAY more informative as to what the company has done for its investors.
Getting kinda hard to throw cold water on this.
I suppose it was kind of a dick move to steal their thunder by posting the PR that came out this morning before any of the optimists.
I get an email when SWET releases a PR. I think I subscribed to it on their website.
Don't you think that it's weird that Whiting Turner never bothered to put the Solar Wind Energy Tower on their website? Being contracted to build a 1.5 billion dollar cutting edge solar energy project would be something that most companies would be proud of.
Things that make you go hmmm
Today's PR was pretty pitiful.
Those of us who have followed this ticker for a while have seen several PRs about how the company is talking to some group in a far away country about licensing. These "potential" deals haven't ever provided enough details for verification.
So they're still working on the design of the tower? I saw someone else mention that they've been working on this for 7 years. They haven't done all that already?
How can they license technology that they themselves haven't gotten figured out yet?
As for repurposing an existing tower it doesn't sound like it would be a very good idea. Seems like the company has already made it painfully clear. In order to function effectively it must be very tall and very large. This inability to be scaled down is the reason they gave for not building a prototype. Ron said that a small one wouldn't work.
New PR 3/27
ANNAPOLIS, MD--(Marketwired - Mar 27, 2017) - Solar Wind Energy Tower, Inc. (OTC: SWET) (the "Company"), the innovator and creator behind the Solar Wind Downdraft Tower structures capable of producing abundant, inexpensive electricity to meet the world's increasing demand, announced today that SWET has issued the following business update.
The Downdraft Tower project in San Luis, AZ is being managed and developed by Arizona Green Power LLC (AGP) which is owned and controlled by SWET for the benefit of SWET shareholders.
There are a few minority interest holders in AGP currently owning less than 8% of AGP. AGP is working with SWET's expert consultants and engineers finalizing the convergence of downdraft winds into the tunnels surrounding the base of the Tower. Optimizing this design is an important engineering and design task. The number of tunnels, their diameter and the length of the tunnels necessary to maximize the efficiency of the multiple turbine energy extraction system directly impacts the total project capital cost.
Management has always used conservative assumptions, (tallest Tower height, longest tunnels, and maximum number of tunnels). Maximizing the conditions predicted the highest construction and highest maintenance cost projections. As these studies near completion, management is now confident that our original estimates were in fact very conservative. As we complete the due diligence process we will continue to provide updates on the projects.
SWET has been supporting the development efforts of a company in Kenya pursuing the exclusive license rights from SWET to develop two downdraft Towers in Kenya, Africa. The SWET business model is to license our technology to developers, utilities, sovereign nations to bring our solution to market. The model includes a license fee, development fees during construction and an ongoing annual Royalty fee based on kWh output from the project for 20-25 years. The development group in Kenya has agreed to the fees and structure and is diligently pursuing site approval and the required Power Purchase Agreement and documents necessary to move forward. Although SWET's management is working with and supporting this effort on a weekly basis, the success of the project is in the hands of the Kenya developer. Activation of the license agreement requires the upfront license fee payment from the developer. We will continue to provide updates on the Kenya Tower(s) project.
SWET has pursued a project in Mexico just across the border from the AGP project in Arizona. The owner of the site on which SWET had an option to purchase has died and that site is no longer available. Our CEO has made a number of trips to Mexico in support of this project and remains in contact with the local development authority. We have received assurances that the local authorities still support the Tower project and will again assist in locating a new site, extend the previous commitments for a water supply agreement and provide the needed entitlements to support a new site. Management has informed the Mexican authorities that as soon as the final design and pricing comes in on the Arizona project we will again revisit San Luis Rio Colorado, Sonora, Mexico in pursuit of a Tower solution for them.
Finally, one of our Teaming Partners is seeking possible ways to repurpose abandoned tall chimneys and stacks rather than tear them down. They have explored solutions such as mounting solar panels on the chimneys and stacks which proved not to be feasible. We were posed the question of whether or not our Tower solution could possibly serve as a retrofit solution to repurpose abandoned stacks. Our consultants have been working with us since late last fall and we have decided to pursue the possible benefit of applying our technology to this potential repurposing opportunity. SWET has formed a new affiliated company, Solar RePurposing Systems LLC, to offer this retrofit solution and potentially benefit our shareholders. SWET owns 90% of this new company and the new company has retained the expertise of an industry consultant to advise and direct us into this market and introduce us to potential Teaming Members. We will continue to provide updates on this potential market opportunity.
About Solar Wind Energy Tower, Inc.
Founded in 2010, Solar Wind Energy Tower, Inc., and its wholly owned commercializing subsidiary, Solar Wind Energy, Inc., is the inventor of the patented Solar Wind Downdraft Tower, which uses state of the art technologies and construction systems to produce abundant, inexpensive electricity, 24 hours a day, 7 days a week.
The Company's core objective and focus is to become a leading enabler of clean, efficient renewable energy to world communities, at a reasonable cost, without the destructive residuals of fossil fuels, while continuing to generate innovative technological solutions to meet tomorrow's electrical power needs.
For more information, please visit:
http://www.solarwindenergytower.com,
https://www.facebook.com/solarwindenergytower
https://twitter.com/SWETower
https://www.arizonagreenpower.com
Cautionary Note Regarding Forward-Looking Statements
Statements included in this release may constitute "forward-looking statements". Actual results may differ materially from those projected in forward-looking statements. Such statements involve a number of risks and uncertainties such as competitive factors, technological development, market demand and the Company's ability to obtain new contracts and accurately estimate revenues, if any, due to variability in size, scope and duration of projects, and internal issues in the sponsoring client. Further information on potential factors that could affect the Company's financial results, can be found in the Company's various filings with the Securities and Exchange Commission (SEC).
Contact:
Solar Wind Energy Tower, Inc.
Phone: 410-972-4713
E-mail: info@SWETower.com
http://irdirect.net/prviewer/release/id/2405892
If China doesn't have any dry climates. they eventually will eventually. Global Warming...
I'm investing in Siberian real estate. My children's children will be rich.
My goal is to get 700 miles per day.
It took me about 3 months to get conditioned to doing it consistently. Even after being out here for 5 years I'm pretty tired at the end of the day.
When I first started I was running teams. Sleeping in a moving semi truck was a challenge all its own.
It's already been bumping around for years. The monthly chart is absolutely horrible.
I like Utah and Colorado for the outdoor beauty.
The East side is nice too. I like trees. Driving through miles and miles of trees is kinda cool. You don't see much of that in New Mexico.
I've purposely went through the heaviest mountains in Colorado during the summer going between California and Denver. Wouldn't want to do it in the Winter though. It's way too much up hill and down hill for my liking. Max speed on warm dry pavement in some places is only like 35 MPH for us.
We may have 18 wheels but one 4 of them have power. Doesn't take much for the load to get away from you. I've seen my share of truck wrecks. In Nebraska they'll just leave some of them until it warms up.
It's got its ups and downs.
You gotta try to take advantage of the time you have when it's there. I've been to lots of places and done lots of things that I never had the opportunity to.
I've walked all over the Las Vegas strip and Manhattan more times than I can count. I did Times Square on New Years eve, Macy's Fireworks and Thanksgiving day parade. I've been to all of the tourist spots in Manhattan. Been to the top of Rockefeller Center, Empire State Building and the new WTC building.
I've been to Coral Castle, Miami Beach, Kennedy Space Center and the everglades in Florida. I've also been to 5 different 6 Flags parks a Bush Gardens park and Cedar Point. I even managed to get out of the truck in Washington DC once to see the White House and Washington monument. I did Atlanta downtown area once too.
I'm pretty happy with the choice.
Unfortunately, I'm getting to the point of been there done that. I haven't done much except walk around Manhattan lately.
They built a new transit building that is kinda like an updated Grand Central Station. It's like a 1.6 BILLION dollar building. It's called the Oculus. They only recently completed construction. It was the highlight of my recent trip to Manhattan.
http://m.nydailynews.com/news/oculus-structure-wtc-hub-gallery-1.2263405?pmSlide=1.2263394
BTW, you can choose whether you want to see the header on the page if the siren is annoying.
Apparently, so can Presidents.
It's a crazy world we live in.
I see em occasionally. I guess they're not as common as they once were. Most truck stops try to discourage the activity.
I saw one fat bottomed black girl walking across the parking lot in Pennsylvania one night as I was going to get a shower. She walked in the door and went straight to the game room. No biggie... I've seen other fat bottomed black girls who drove trucks.
Then a few minutes later when I was buying my shower I saw her walk out the front door. Didn't take me long to figure out what she'd been doing.
Their usual MO is to sneak around the parking lot knocking on doors and slithering into and out of their customers trucks.
I did see a pretty one once in Las Vegas. BTW, prostitution is legal in the state but apparently not in the city limits of Vegas. She was selling perfume in the truck stop parking lot. I wasn't buying and only figured out that she might have actually been using the perfume as a cover story later on. Course, she might have been a cop too. Hard to tell...
Na, pets don't sleep at the same weird times I'd want to sleep.
All I need is a virtual girlfriend...
I had a lot lizard knocking on my door in Knoxville. I just ain't into that...
Oh, I got lots of issues. That's one thing about driving OTR as a solo driver. I got lots of time to contemplate my issues. I got issues I hadn't realized.
My stock issues are at least manageable. I subscribe to StockTwits and keep an eye on Finviz and, of course, iHub.