Where Will Clean Energy Fuels Be in 3 Years?

Maxx Chatsko, The Motley Fool
,
Motley Fool•May 10, 2018

Depending on how investors look at the situation, natural gas transportation fuels leader Clean Energy Fuels (NASDAQ: CLNE) is either oh-so-close to finally cashing in on its long-term potential or on the doorstep of a much worse fate. Considering shares have fallen almost 80% in the last three years, it may seem difficult to remain optimistic. But there are some rays of sunshine piercing through the dark clouds.

Management has made several difficult but necessary decisions to put the business on stable long-term footing. An important federal tax credit, although not currently active, is likely to be retroactively reinstated in future periods. And new commercial trucks utilizing cleaner-burning natural gas fuels are ready to hit the market. It could prove to be just the trifecta of catalysts Clean Energy Fuels needs to turn things around.

Or not.

It's not an easy question to answer, but investors want to know: Where will Clean Energy Fuels by in three years? Let's take a level-headed look at the path forward.


By the numbers

The full-year 2017 financial numbers weren't inspiring at first glance, but they require some further explanation. That's especially true of the enormous operating loss of $134 million -- more than the total from the three years spanning 2014 through 2016 combined. What happened?

Well, there were $61 million in asset impairments related to closing 42 fueling stations, repositioning its compressor business, and reducing headcount. Another $13.2 million charge was taken to adjust inventory, and yet another $7 million was spent settling disputes related to the company's low carbon fuel standard (LCFS) credits. The total charges were roughly $81 million.

That wasn't even all of it. Clean Energy Fuels went the entire year without generating any revenue from a federal tax credit on the sale of compressed natural gas (CNG) and liquefied natural gas (LNG), which expired on the last day of 2016. The absence wiped away about $26 million in cost-free revenue generated in the prior year.

With that context, here's how 2017 stacked up against 2016:


Metric


2017


2016


% Change



Total revenue

$341.6 million

$402.6 million

(15.2%)


Total volume sold, gasoline equivalent gallons

351.4 million

329.0 million

6.8%


Operating income

($134.5 million)

($17.6 million)

N/A


Net loss

($81.4 million)

($13.7 million)

N/A


Alternative fuels tax credit

$0

$26.6 million

(100%)


Source: SEC filing.

Now for some good news: Clean Energy Fuels should have put most of its asset impairments behind it. Since they were mostly related to the least profitable fueling stations in the company's network, that should result in an immediate improvement in margins for 2018.

Rising oil prices should also bode well for the natural gas transportation fuels supplier. In addition to higher selling prices, higher energy prices make CNG and LNG more cost competitive compared to diesel fuel, which could nudge more fleets to make the switch, thus increasing the customer pool. It's not the only potential catalyst capable of providing a much-needed boost to the business in the next several years.

Greener pastures ahead?

Management has worked to corral the factors within its control in recent years by focusing on the most profitable parts of the business and downsizing. However, much of Clean Energy Fuels' future might just depend on factors outside of the company's control -- and oil prices may not even the most significant factor for investors to consider.

The lowest hanging fruit for the business will come from the reinstatement of the federal alternative fuels tax credit (AFTC). While it wasn't active during 2017, it was retroactively reinstated in February 2018. As a result, Clean Energy Fuels expects to record an approximately $25 million gain in the first quarter of 2018 related to its fuel sales last year. But there's a catch: the AFTC isn't active right now, meaning fuel sales this year will miss out on the cost-free revenue provided by the tax credit.

The uncertainty isn't good for the business or investors, but it might not be so bad. Why not? The AFTC is now in the same situation as the biodiesel blender's tax credit, which was allowed to expire in 2010, 2012, 2014, 2015, and 2017. It was reinstated every single time. Investors can likely expect the same for the AFTC, while taking comfort in knowing Clean Energy Fuels isn't nearly as dependent on tax credits as biodiesel producers.

However, while a cool $25 million boost to the bottom line from the AFTC each year will help, the business will ultimately succeed or fail with the pace of expansion in key markets -- and the clock is ticking. If natural gas transportation fuels don't begin to gain significant market share in commercial trucking applications, then they may lose out to electric vehicles for good.

Once again, there's some potentially good news. The first commercially available class 8 on-highway trucks to receive near-zero emissions certification by the California Air Resources Board (CARB) are hitting the road right now. No company is better positioned to exploit the opportunity than Clean Energy Fuels, which has a big operational footprint in California. If the new trucks gain traction quickly -- before electric trucks become viable within the next five years or so -- then the alternative fuels supplier could get a new lease on life.

That's not only true for the near term, but the long-term as well, as having real-world customers relying on natural gas fuels would go a long way to proving the reliability and utility of the technology. The United States has no shortage of natural gas, after all, and it would be possible for both electric trucks and natural gas trucks to share the road on the path to a lower-carbon future.

All the pieces are in place, but...

On one hand, investors should be pleased with the steps taken by management in recent years. The alarming rates of stock dilution are now a thing of the past, while difficult decisions have refocused the business on the most profitable and fast-growing opportunities.

On the other hand, a handful of significant factors that will likely make or break Clean Energy Fuels' future -- oil prices, the reinstatement of tax credits, and market penetration of natural gas semi trucks -- remain outside of the company's control. That's not an envious position to be in.

Mr. Market has almost no faith in the stock, which trades at just 0.65 times book value. While that may be fair in the historical context, it doesn't seem to fairly value the potential for a turnaround if commercial trucks really do gain market traction beginning in 2018. Will this time really be different? The answer will reveal itself soon enough, although opportunistic investors may find reason to stake a position in Clean Energy Fuels stock at these lowly prices. If it works out, then it'll likely lead to handsome rewards for patient investors.

With all the hirings CRRVF really means business..

CVR Medical Adds Colonel Dallas Hack MD, MPH,MSS, FACMPH, FS, CPE
To Board of Directors

VANCOUVER, BC / May 10th, 2018 / CVR Medical Corp. (CVM.V) (TSXV: CVM) (FRANKFURT: B3BN) (OTCQB: CRRVF) ("CVR Medical”) announces Colonel Dallas C. Hack, MD, MPH,MSS, FACMPH, FS, CPE has been unanimously appointed to its Board of Directors, replacing Mr. Erwin Wong who is retiring. Colonel Hack is a brain injury expert and is board certified in Preventive Medicine with multiple degrees and certifications including a Master of Public Health and a Master of Strategic Studies. Colonel Hack will also serve on CVR’s Medical Advisory Board as the company moves toward market entry of its disruptive medical device, the “Carotid Stenotic Scan (CSS).

Colonel Hack has had a decorated medical and military career. Prior to his military career, Colonel Hack developed expertise in computer sciences and engineering, and served as Vice President for several biomedical companies. Dr. Hack directed the Combat Casualty Care Research Program (CCCRP) at the US Army Medical Research & Materiel Command (USAMRMC) from 2008 to 2014 where he led and coordinated over $2 billion in Trauma Research and Development funding (including traumatic brain injury) across all Department of Defense groups. The initiatives Dr. Hack developed have dramatically improved trauma care worldwide and have fundamentally changed the way the Food and Drug Administration regulates brain injury product development. Colonel Hack’s other appointments included (among others) Command Surgeon for the Multinational Force in Iraq, Faculty Instructor at the US Army War College in Carlisle, PA, and Commander of the SHAPE Healthcare Facility in Mons, Belgium. Colonel Hack is a recipient the Bronze Star and the Legion of Merit (twice) and was recognized as the 2015 Alumnus of the Year by his medical school, Loma Linda University.

Dr. Hack’s extensive experiences, both in clinical and administrative capacities, will provide CVR with another unique perspective on its diverse Board of Directors. “When I was first introduced to CVR and this technology, I understood the imaging market very well and quickly understood that what they had was unique, both in terms of technology as well as a very large, untapped market” he says. “When we spoke about a potential role with the company, it went from talking solely about technological aspects to getting more involved with the business as a whole. Having long had an interest in developing diagnostics and therapeutics with applications to trauma, it appealed as a way to make great progress with those in the near future.”

Colonel Hack’s extensive work with new products and familiarity with the FDA, NIH, DoD, and industry processes will assist CVR as it navigates its own strategy for the CSS. “One of my main areas of focus throughout my career has been strategic planning,” Hack continues. “We define a goal and put a program in place with all the elements needed to achieve that goal.”

“We are honored and excited to bring Colonel Hack onto our Board of Directors at such a pivotal time for our company,” says CVR CEO Peter Bakema. “As a leader and one of the most respected voices in the medical community at large, his commitment to helping us reach our great potential is invaluable. We look forward to his support and guidance as we continue to progress toward that goal.”

Colonel Hack further states, “As someone trained in preventive medicine, my interest is in keeping people healthy, especially when talking about avoiding medical catastrophes, which is what strokes are. Beyond that, I’ve always had an interest in technology and product development, including bringing those things to market. Ultimately, the aim is to improve medicine as a whole, and so I’m excited to be a part of a company whose goals align with these.”

For additional information on the organization, leadership, and current news please visit the company website www.CVRMed.com

About CVR Medical

CVR Medical is a company that is involved in an equal parts joint venture with CVR Global Inc. (the "Joint Venture"). The Joint Venture operates in the medical industry focused on the commercialization of a proprietary subsonic, infrasonic, and low frequency sound wave analysis technology and has patents to a diagnostic device designed to detect and measure carotid arterial stenosis. CVR Medical is managed by a proven technical team. CVR Medical trades on the TSX Venture Exchange under the symbol CVM.

ON BEHALF OF THE BOARD:

(signed) "Peter Bakema"

CEO, President & Director

For further information contact:

Peter Bakema, CEO, President and Director

Email: info@cvrmed.com

or

Marc S. Lubow.

Vice President Capital Markets, Investor Relations

marclubow@cvrmed.com

Telephone: (403) 262-9888

Or

Brisco Capital Partners Corp.

Scott Brisco, President

Telephone: (403) 262-9888

This press release contains forward-looking information that involves various risks and uncertainties regarding future events related to theJoint Venture. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements and are not guarantees of future performance of the Company. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed orimplied by the forward-looking statements, including: (1) a downturn in general economic conditions in North America and internationally, (2) the inherent uncertainties and speculative nature associated with commercialization of technology and the practice of medicine, (3) a change in health regulations, (4) any number of events or causes which may delay or cease commercialization and development of the Joint Venture, (5) the risk that the Company or the Joint Venture does not execute its business plan, (6) inability to retain key employees, (7) inability to finance operations and growth, and (8) other factors beyond the Company's control. These forward-looking statements are made as of the date of this news release and, except as required by law, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-lookingstatements.

THE TSX VENTURE EXCHANGE INC. HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE. NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Great timing on my adds here and CLNE.. Hope yours got filled yesterday..

France's Total to take 25 percent stake in Clean Energy Fuels Corp

Reuters•May 9, 2018


PARIS (Reuters) - French oil and gas major Total (TOTF.PA) said on Thursday that it has agreed to buy up to 50.8 million shares of Clean Energy Corp’s (CLNE.O) common stock for $83.4 million, to become its largest stockholder with a 25 percent stake.
Total said the two companies have entered into a broad strategic agreement to drive deployment of new natural gas heavy-duty trucks in the North American market.
It added that Total will provide a $100 million credit support for Clean Energy's plan to launch an innovative leasing programme to place thousands of new natural gas heavy-duty trucks on the road and fuelling at Clean Energy stations.

I effing timed it right both of my adds here and WPRT..

A truly good day..

No matter what the naysayers say that % will continue to grow because of the CVS deal and now the Cipla deal..

Affrezza sales up 184%

CVR & U.S. FDA: A Meeting of the Minds


Concludes De Novo Pathway Best Suited

VANCOUVER, BC / May 9, 2018 / CVR Medical Corp. (CVM.V) (TSXV: CVM) (FRANKFURT: B3BN) (OTCQB: CRRVF) ("CVR Medical”) announces the receipt of official meeting minutes for their Pre-Submission meeting on March 23, 2018 with the U.S. Food and Drug Administration (FDA) regarding the Carotid Stenotic Scan (CSS) device and it’s upcoming FDA submission for market release. Attendees of the meeting included CVR management, regulatory consultant’s Duval & Associates, and key reviewers from the FDA. The purpose of the meeting was to receive feedback and define the necessary regulatory pathway, clinical trial substantiation requirements, and device testing.

Based on prior communication with the FDA and input provided by key regulatory advisors, CVR had considered the potential for either a 510k, De Novo, or PMA submission; with the De Novo being the preferred pathway. During the meeting these topics were discussed and in follow-up communication the FDA team stated the CSS was sufficiently different from other devices on the market today to decide the De Novo pathway was best suited, which is designed for low to moderate risk novel devices.

CVR COO Tony Robinson states, “The pre-submission meeting went as expected. The CVR leadership team had quality dialog with the FDA reviewers, resulting in meaningful clarity and understanding of the project for both sides. We truly value the FDA’s input, alleviating much of the concern stemming from questions about the direction and pathway of the project. Upon further discussion, we understand the clinical trial requirements will fall within the previously expected range. Altogether, I believe we align with the FDA on this undertaking, and CVR is poised for our upcoming submission and subsequent approval.”

Mark DuVal, President of Duval & Associates, who was also present at the meeting stated, “Communications with FDA regarding the CSS device to date have been very collaborative and responsive. Our firm believes that the De Novo program will provide the most efficient pathway to US commercialization of the CSS device. We also believe the FDA has accepted our argument that the CSS represents a lower risk device than standard Doppler Ultrasound. This will reduce data requirements. Now we move into a phase of offering FDA proposed ‘special controls’ which are tests we propose to conduct to address these risks, albeit low risks, of using this device.”

CVR Chief Executive Officer, Peter Bakema, expands upon the FDA’s decision as it applies to the overall project, “While every member of our team and board are excited about the FDA’s observation that our CSS Device has no predicate, due to the continual evolution of this project, this exciting development does require us to extend our previously stated guidance regarding our targeted submission date. With the De Novo process and associated factors comes a much higher level of documentation and testing requirements. Due to these vital elements we feel it necessary to extend our projected submission timeline another 60 to 90 days. Both myself and team have already taken the actions to mitigate this addition to the timeline. We anticipate an end of Q3 submission, and will update our timeline as we move closer.”

For additional information on the organization, leadership, and current news please visit the company website www.CVRMed.com

About CVR Medical

CVR Medical is a company that is involved in an equal parts joint venture with CVR Global Inc. (the "Joint Venture"). The Joint Venture operates in the medical industry focused on the commercialization of a proprietary subsonic, infrasonic, and low frequency sound wave analysis technology and has patents to a diagnostic device designed to detect and measure carotid arterial stenosis. CVR Medical is managed by a proven technical team. CVR Medical trades on the TSX Venture Exchange under the symbol CVM.

ON BEHALF OF THE BOARD:
(signed) "Peter Bakema"
CEO, President & Director

For further information contact:
Peter Bakema, CEO, President and Director
Telephone: (734) 718-5115
Email: info@cvrmed.com
or
Marc S. Lubow.
Vice President Capital Markets, Investor Relations
marclubow@cvrmed.com
Telephone: (403) 262-9888
or
Brisco Capital Partners Corp.
Scott Brisco, President
Telephone: (403) 262-9888

This press release contains forward-looking information that involves various risks and uncertainties regarding future events related to theJoint Venture. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements and are not guarantees of future performance of the Company. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed orimplied by the forward-looking statements, including: (1) a downturn in general economic conditions in North America and internationally, (2) the inherent uncertainties and speculative nature associated with commercialization of technology and the practice of medicine, (3) a change in health regulations, (4) any number of events or causes which may delay or cease commercialization and development of the Joint Venture, (5) the risk that the Company or the Joint Venture does not execute its business plan, (6) inability to retain key employees, (7) inability to finance operations and growth, and (8) other factors beyond the Company's control. These forward-looking statements are made as of the date of this news release and, except as required by law, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-lookingstatements.

THE TSX VENTURE EXCHANGE INC. HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE. NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Hope you got the price you wanted..

Not an earth-shattering news but at least Castagna and company continue to have good news.. Any little bits that helps their cash situation is better than nothing..

Thinking it would be so gnarly (maybe 4-5yrs from now) if they can get affrezza rolling take on the diabetes world and be the leading diabetes meds.. That would be like giving the middle finger to SNY.. Unless they solved their cash situation that day might never come..

I also added 1370 shares today to my long position Kettleman .. I am hoping second half of the year CLNE will also the turning point just like WPRT..

Gotta believe!

I just added 1075 shares today to my long position Kettleman.. I cant believe I averaged up on my $1.40s long position.. I really believe the second half of the year is going to be turning point of WPRT..

Gotta believe!

I am hungry for some shares plz hand me a FORK :)

Tom J. Harris Former CFO At Time Warner Cable And Associated Press Appointed Chief Financial Officer Of CVR Medical


VANCOUVER, BC / May 3, 2018 / CVR Medical Corp. (CVM.V) (TSXV: CVM) (FRANKFURT: B3BN) (OTCQB: CRRVF) ("CVR Medical”) has appointed Mr. Tom J. Harris to the position of Chief Financial Officer effective May 1, 2018. As CVR transitions to a sales and marketing focused company, Mr. Erwin Wong retires from his position as CFO. Tom J. Harris will spearhead fiscal preparations while contributing to overall organizational expansions as CVR continues its shift from research and development to a sales and marketing focus for the upcoming launch of their flagship medical device, the Carotid Stenotic Scan (CSS)

Over a career spanning nearly 50 years, Mr. Harris has held various senior executive roles within both public and non-public companies, including Time Warner, Inc., the Associated Press, and several development stage and start-up entities within the biotech and medical device industries. Mr. Harris played a key role in the successful Initial Public Offering of American Television and Communications Corporation, predecessor to Time Warner Cable (TWC), as well as leading the effort to decentralize the TWC’s operations into several dozen autonomous operating units. While serving as CFO of TWC, Mr. Harris lead the efforts to structure, finance and complete several multi-billions dollar (and smaller) acquisitions, and successfully integrate the acquired businesses into TWC, and manage a financing and capital allocation process that resulted in $5 billion in capital investments to improve and increase TWC’s operating footprint.

Mr. Harris brings CVR extensive knowledge of managing acquisitions, restructurings, equity offerings and debt financings, as well as a focus on operational and corporate tax strategies. “After meeting with Peter [Bakema] and the team, and knowing what the market could be for the CSS, it’s been very easy to get excited about joining CVR,” Harris states. Regarding CVR’s transitory state towards high-growth and expansion, he draws from his experiences on the executive board of small, public and non-public companies like Stroma Medical. “I’ve been working with development stage companies for the past seven years, both in a CFO and consulting role. It entails a bit of everything, from the putting together the framework for resource management and international tax strategy to developing long-term business plans.” In addition to his varied achievements in the U.S., Mr. Harris has spent time working within the major foreign markets, bringing a comprehensive understanding of the path CVR intends to take upon both domestic and global market entries.

Mr. Erwin Wong stated, “Upon entering the medical device space in October of 2016, we as a team have made tremendous progress and is now rapidly preparing for market launch. I am pleased that someone of Mr. Harris’s caliber has taken on the role of CFO at CVR Medical as we scale for market launch.

CVR Medical’s CEO, Peter Bakema stated “An executive of Tom Harris’s pedigree joining our senior management team further demonstrates a level of confidence in our project and validation in our ability to execute with a focus on our near, intermediate and longer term plan.”

“There is a great opportunity with regards to financial potential here, but it’s so much more than that,” Mr. Harris elaborates. “This is truly a situation where once the product gets commercialized, it’s going to be a benefit to humanity. It will be my job to ensure we have the right management platform, operating systems, communication plans and economic strategies in place as we scale up to meet what we expect to be high demand.”

On behalf of the entire team and Board of Directors, we want to thank Mr. Wong for his significant contributions, we look forward to his continued involvement, as he will remain as a strategic financial consultant with the company.

For additional information on the organization, leadership, and current news please visit the company website www.CVRMed.com

About CVR Medical

CVR Medical is a company that is involved in an equal parts joint venture with CVR Global Inc. (the "Joint Venture"). The Joint Venture operates in the medical industry focused on the commercialization of a proprietary subsonic, infrasonic, and low frequency sound wave analysis technology and has patents to a diagnostic device designed to detect and measure carotid arterial stenosis. CVR Medical is managed by a proven technical team. CVR Medical trades on the TSX Venture Exchange under the symbol CVM.

ON BEHALF OF THE BOARD:
(signed) "Peter Bakema"
CEO, President & Director

For further information contact:
Peter Bakema, CEO, President and Director
Telephone: (734) 718-5115
Email: info@cvrmed.com
or
Brisco Capital Partners Corp.
Scott Koyich, President
Telephone: (403) 262-9888

This press release contains forward-looking information that involves various risks and uncertainties regarding future events related to theJoint Venture. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements and are not guarantees of future performance of the Company. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed orimplied by the forward-looking statements, including: (1) a downturn in general economic conditions in North America and internationally, (2) the inherent uncertainties and speculative nature associated with commercialization of technology and the practice of medicine, (3) a change in health regulations, (4) any number of events or causes which may delay or cease commercialization and development of the Joint Venture, (5) the risk that the Company or the Joint Venture does not execute its business plan, (6) inability to retain key employees, (7) inability to finance operations and growth, and (8) other factors beyond the Company's control. These forward-looking statements are made as of the date of this news release and, except as required by law, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-lookingstatements.

THE TSX VENTURE EXCHANGE INC. HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE. NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

10Q out..

The 17 Millionth Bitcoin Is About to Be Mined: What It Means and Why It Matters

David Floyd

Apr 26, 2018 at 03:31 UTC | Updated Apr 26, 2018 at 13:19 UTC

Bitcoin's limited supply is about to get a bit more limited.

Barring an unforeseen event, the 17 millionth bitcoin is likely to be mined in the coming day, data from Blockchain.info shows, a development that would mark yet another milestone for the world's first cryptocurrency. That's because as per bitcoin's current rules, only 21 million bitcoin can ever be created.

Stepping back, the milestone, the first million-bitcoin marker to be crossed since mid-2016, is perhaps noteworthy as yet another reminder of the technology's core computer science achievement - digital scarcity created and enabled by shared software.

In short, bitcoin's code, since cloned and adapted by scores of other upstart cryptocurrencies, ensures that only a set number of new bitcoins are introduced to its economy at intervals. Miners, or those who operate the hardware necessary to track bitcoin's transaction set, are rewarded with this scarce data every time they add new entries to the official record.


Still, there's a lot of variability in the process.

Of note is that it can't be precisely predicted when the 17 millionth bitcoin will be mined or who will mine it, due to the many minute variances that are created in keeping a common software in sync. That said, there's a relative predictability. Each bitcoin block produces 12.5 new bitcoin, and as bitcoin blocks occur roughly every 10 minutes, about 1,800 new bitcoin are created each day.

As such, it's perhaps best to view this event as a "psychological barrier," Tetras Capital founding partner Alex Sunnarborg told CoinDesk, one that is interpreted differently by different communities.

Sunnarborg, for example, sought to stress that another way to interpret the result is that 80 percent of all the bitcoin that will be ever created have now been mined. In other words, only about one-fifth of the eventual supply remains for miners and future buyers.

Others see the milestone as one that's ripe for appreciation of the technology and its achievements.


"I think it is awesome," Tim Draper, the venture capitalist who bought millions of dollars worth of bitcoin seized by the U.S. government at auction in 2014, said of the coming milestone.

He told CoinDesk:


"I would bet the founders wouldn't have imagined how important bitcoin would become in their wildest dreams."

Way with words

Others sought to suggest the milestone is one that should be considered as an opportunity for education about both the features of bitcoin, and those of cryptocurrencies broadly.

For example, unless all of the humans who operate the computers running the bitcoin software decide to make a change (a perhaps unlikely scenario today), there's really no way to ever introduce more new bitcoin. This achievement, a technical reality, has played a key role in bitcoin's association with money, economics and other scarce, naturally occurring assets.

In this way, the goldbugs and readers of Austrian economics who piled into bitcoin early on were quick to realize the value of the feature, perhaps giving rise to the term "cryptocurrency" itself.


Trace Mayer, one of this group's most vocal members, summed up the philosophy in a recent tweet, in which he argued governments might seek to prevent users from holding bitcoin in the future.

"Increasing money supply is a means to confiscate through inflation which is a form of taxation without representation or due process of law," he wrote.

Even the new way new bitcoins come into being, called "mining," is a nod to the gold analogy.

Rather than being issued by a central bank, bitcoin is created by a network through the work of maintaining the blockchain. When a miner finds a valid hash for recent transactions, solving the bitcoin protocol's puzzle, he or she is rewarded with a "coinbase transaction," bitcoin credited to her account.

A little bit of cryptocurrency is created and deducted from the final supply.

The bitcoin supply curve


How participants have been rewarded has, of course, changed over time.

When bitcoin's founder Satoshi Nakamoto mined the first bitcoin block on Jan. 3, 2009, he created the first 50 bitcoins. This reward stayed the same for another 209,999 blocks, when the first "halvening," or reduction in rewards, took place.

It didn't come as a surprise. Every 210,000 blocks, according to a hard-coded schedule, the network reduces the block reward by 50 percent. Following the most recent halvening, in July 2016, the reward is 12.5 bitcoin.

That means that while there are only 4 million bitcoin left to mine, the network will not reach its final supply in anything like the nine years it's taken to get this far. As the halvenings halven, the rate of monetary inflation - supply growth - slows.

BashCo, a pseudonymous moderator on the r/bitcoin subreddit, has plotted the trajectory of bitcoin's total supply (blue curve) against its rate of monetary inflation (orange line).

Source: BashCo.

Assuming the bitcoin protocol remains the same (a new block is mined every 10 minutes on average and the halving schedule and supply cap are unchanged), the last new bitcoin will not be mined until May 2140.

The next 120 years

With this in mind, the chart hints at another common talking point when acknowledging the milestone - that bitcoin is programmed to run for a very long time.

Jameson Lopp, lead infrastructure engineer at wallet provider Casa, was quick to remind CoinDesk that bitcoins are divisible, and that as such, the smallest parts of each bitcoin can hold seemingly infinite value.


He said:


"While 17 million BTC may sound like a lot, it's incredibly scarce - there won't even be enough for every current millionaire to own a whole bitcoin. Thankfully, each bitcoin is divisible into 100 million satoshis, thus there will always be plenty to go around!"

But there are other quirks to the software as well.

For one, bitcoin will never actually reach 21 million units, as barring a protocol change, the total supply will fall short by at least one satoshi. That's because on May 17, 2011, the miner "midnightmagic" - for reasons that remain unlear - claimed a 49.99999999 block reward, rather than an even 50.

Further, to be clear, bitcoin does not stop running when 21 million bitcoin are produced. At that point, the idea is that miners would be compensated purely through the fees, which they already collect. (Though some scientists have sought to project whether such a market would work in practice).

With so many questions left unanswered, if anything, the event serves as yet another reminder of how far bitcoin has come, and just how far it has to go.


In the words of long-time developer Adam Back:


"Another million down four more to go."

A more detailed explanation of the bitcoin's supply and digital scarcity can be found here.

https://www.coindesk.com/17-millionth-bitcoin-mined-means-matters/

The 17 Millionth Bitcoin Is About to Be Mined: What It Means and Why It Matters

David Floyd
?
Apr 26, 2018 at 03:31 UTC | Updated Apr 26, 2018 at 13:19 UTC

Bitcoin's limited supply is about to get a bit more limited.

Barring an unforeseen event, the 17 millionth bitcoin is likely to be mined in the coming day, data from Blockchain.info shows, a development that would mark yet another milestone for the world's first cryptocurrency. That's because as per bitcoin's current rules, only 21 million bitcoin can ever be created.

Stepping back, the milestone, the first million-bitcoin marker to be crossed since mid-2016, is perhaps noteworthy as yet another reminder of the technology's core computer science achievement - digital scarcity created and enabled by shared software.

In short, bitcoin's code, since cloned and adapted by scores of other upstart cryptocurrencies, ensures that only a set number of new bitcoins are introduced to its economy at intervals. Miners, or those who operate the hardware necessary to track bitcoin's transaction set, are rewarded with this scarce data every time they add new entries to the official record.




Still, there's a lot of variability in the process.

Of note is that it can't be precisely predicted when the 17 millionth bitcoin will be mined or who will mine it, due to the many minute variances that are created in keeping a common software in sync. That said, there's a relative predictability. Each bitcoin block produces 12.5 new bitcoin, and as bitcoin blocks occur roughly every 10 minutes, about 1,800 new bitcoin are created each day.

As such, it's perhaps best to view this event as a "psychological barrier," Tetras Capital founding partner Alex Sunnarborg told CoinDesk, one that is interpreted differently by different communities.

Sunnarborg, for example, sought to stress that another way to interpret the result is that 80 percent of all the bitcoin that will be ever created have now been mined. In other words, only about one-fifth of the eventual supply remains for miners and future buyers.

Others see the milestone as one that's ripe for appreciation of the technology and its achievements.


"I think it is awesome," Tim Draper, the venture capitalist who bought millions of dollars worth of bitcoin seized by the U.S. government at auction in 2014, said of the coming milestone.

He told CoinDesk:


"I would bet the founders wouldn't have imagined how important bitcoin would become in their wildest dreams."

Way with words

Others sought to suggest the milestone is one that should be considered as an opportunity for education about both the features of bitcoin, and those of cryptocurrencies broadly.

For example, unless all of the humans who operate the computers running the bitcoin software decide to make a change (a perhaps unlikely scenario today), there's really no way to ever introduce more new bitcoin. This achievement, a technical reality, has played a key role in bitcoin's association with money, economics and other scarce, naturally occurring assets.

In this way, the goldbugs and readers of Austrian economics who piled into bitcoin early on were quick to realize the value of the feature, perhaps giving rise to the term "cryptocurrency" itself.


Trace Mayer, one of this group's most vocal members, summed up the philosophy in a recent tweet, in which he argued governments might seek to prevent users from holding bitcoin in the future.

"Increasing money supply is a means to confiscate through inflation which is a form of taxation without representation or due process of law," he wrote.

Even the new way new bitcoins come into being, called "mining," is a nod to the gold analogy.

Rather than being issued by a central bank, bitcoin is created by a network through the work of maintaining the blockchain. When a miner finds a valid hash for recent transactions, solving the bitcoin protocol's puzzle, he or she is rewarded with a "coinbase transaction," bitcoin credited to her account.

A little bit of cryptocurrency is created and deducted from the final supply.

The bitcoin supply curve


How participants have been rewarded has, of course, changed over time.

When bitcoin's founder Satoshi Nakamoto mined the first bitcoin block on Jan. 3, 2009, he created the first 50 bitcoins. This reward stayed the same for another 209,999 blocks, when the first "halvening," or reduction in rewards, took place.

It didn't come as a surprise. Every 210,000 blocks, according to a hard-coded schedule, the network reduces the block reward by 50 percent. Following the most recent halvening, in July 2016, the reward is 12.5 bitcoin.

That means that while there are only 4 million bitcoin left to mine, the network will not reach its final supply in anything like the nine years it's taken to get this far. As the halvenings halven, the rate of monetary inflation - supply growth - slows.

BashCo, a pseudonymous moderator on the r/bitcoin subreddit, has plotted the trajectory of bitcoin's total supply (blue curve) against its rate of monetary inflation (orange line).




Source: BashCo.

Assuming the bitcoin protocol remains the same (a new block is mined every 10 minutes on average and the halving schedule and supply cap are unchanged), the last new bitcoin will not be mined until May 2140.

The next 120 years

With this in mind, the chart hints at another common talking point when acknowledging the milestone - that bitcoin is programmed to run for a very long time.

Jameson Lopp, lead infrastructure engineer at wallet provider Casa, was quick to remind CoinDesk that bitcoins are divisible, and that as such, the smallest parts of each bitcoin can hold seemingly infinite value.


He said:


"While 17 million BTC may sound like a lot, it's incredibly scarce - there won't even be enough for every current millionaire to own a whole bitcoin. Thankfully, each bitcoin is divisible into 100 million satoshis, thus there will always be plenty to go around!"

But there are other quirks to the software as well.

For one, bitcoin will never actually reach 21 million units, as barring a protocol change, the total supply will fall short by at least one satoshi. That's because on May 17, 2011, the miner "midnightmagic" - for reasons that remain unlear - claimed a 49.99999999 block reward, rather than an even 50.

Further, to be clear, bitcoin does not stop running when 21 million bitcoin are produced. At that point, the idea is that miners would be compensated purely through the fees, which they already collect. (Though some scientists have sought to project whether such a market would work in practice).

With so many questions left unanswered, if anything, the event serves as yet another reminder of how far bitcoin has come, and just how far it has to go.


In the words of long-time developer Adam Back:


"Another million down four more to go."

A more detailed explanation of the bitcoin's supply and digital scarcity can be found here.

https://www.coindesk.com/17-millionth-bitcoin-mined-means-matters/

You're not looking at the big picture.. Blockchain & cryptocurrencies are in their early stages.. Potential of BLKCF is huge.. The big funds are coming in this space.. Just hang tight we will be ok..

Nice volume too highest since Jan 10..

Good thing I bought some shares at $1.70

MannKind +8% as FDA clears risk hurdles for Afrezza

Apr. 24, 2018 5:37 PM ET|About: MannKind Corporation (MNKD)|By: Jason Aycock, SA News Editor



•MannKind (NASDAQ:MNKD) is up 8.1% after hours following a letter from the FDA saying that the company's Afrezza inhalation treatment no longer needs a Risk Evaluation and Mitigation Strategy.

•"We have determined that the communication plan is no longer necessary as an element of the REMS to ensure the benefits of Afrezza (insulin human) inhalation powder outweigh its risks because the communication plan has been completed and the most recent assessment demonstrated that the communication plan has met its goals," the FDA writes.

•With that, a REMS is no longer required for the powder, the FDA says.

Currently up 24% better than you were looking for..

Come on BLKCF one more day of green and I am back to even..

Oh my! look at the 101K on the bid.. I'd say raise the ask and make them chase :)

Almost 15% gain today not too shabby..

Albeit I am down a bit on my BLKCF I am feeling comfortable on my position along with my Bitcoin, Ethereum, NEO, XRP, TRX, & ETN..

Cryptocurrencies and Blockchain are here to stay.. BLKCF will give us a nice ROI just a matter of time...

I never quiet understood about DVAX we get good news the pps goes down.. Nothing new here big dogs continuously manipulate stocks like DVAX..I am SMH..One reason why in March I started taking most of my money out of the stock market and putting it into cryptocurrencies and blockchain stocks I now own Bitcoin, Ethereum, NEO, Ripple(XRP), Tron, & ETN..

I wrote this earlier and forgot to submit.. I just checked DVAX is now up :)

Will we see .50s before we get our FORK?

Let's hope we get it next week..

Did any of you seen this its called Metro?

https://sydney.edu.au/news-opinion/news/2017/10/05/_squirtable_-elastic-surgical-glue-seals-wounds-in-60-seconds.html

Our management are working hard to deliver their promise(s)...

Blockchain is the future.. Stay patience BLKCF is a sleeping giant in this space.. Huge potential

Good for you sassy11.. As good as the news yesterday I firmly believe it was pure manipulation from the big boys to brought down the price to $18.35 so they can cover their short..
Now look at the pps? I hope you got back in time..

Here it is SM..

Dynavax Technologies Corp. DVAX, +8.61% shares rose 14% in premarket trade Monday after the company released promising data in conjunction with the annual American Association for Cancer Research meeting, happening this week. New results for the company's immuno-oncology drug SD-101 "showed a promising 40% [overall response rate] indicative of potential activity in this difficult-to-treat setting" of head/neck cancers, said RBC Capital Markets analyst Brian Abrahams. Another abstract from the company showed "encouraging" durability of responses to SD-101 in melanoma, he noted. "Though the data do not necessarily answer the question as to whether these patients were somehow easier to treat than those in historical studies, the consistency over time is at least directionally encouraging, in our view," Abrahams said. Dynavax shares have surged 34.8% over the last three months but slumped 0.5% month-to-date, compared with a 4.3% decline in the S&P 500 SPX, +0.44% over the last three months and a 0.6% month-to-date rise.

According to Ameritrade it is up because of a promising cancer conference data.. Could be the result of SD101

Small company but a solid track record..

I am fairly new investor on QBAK and I am liking it..

N2Power, Inc., a Subsidiary of Qualstar Corporation, Receives a New Purchase Order for $1.1 Million

Thu April 12, 2018 9:00 AM|Business Wire|About: QBAK

SIMI VALLEY, Calif.--(BUSINESS WIRE)-- Qualstar Corporation (QBAK) (NASDAQ: QBAK) announced today that N2Power, Inc., a subsidiary of Qualstar and an industry leader in the design and manufacturing of compact and high efficiency power supplies, was recently awarded another $1.1 million order from an existing prestigious gaming customer. Shipments against this order are expected to occur over the next twelve months. N2Power provides standard, semi-custom and custom power solutions for OEMs in various markets worldwide.

“It is exciting to see the fruition of our engineering and other available resources being validated with new and continued orders from our gaming customers,” said Randy Johnson, N2Power’s Vice President of Sales.

“We are committed to growing our footprint in the gaming market by providing customer driven standard and custom power solutions,” said Steven N. Bronson, Qualstar’s Chief Executive Officer.

For additional information regarding N2Power power supplies, call Shelley Urbina at 805-583-7744 or refer to our website at www.n2power.com for authorized distribution partners.

About Qualstar Corporation

Qualstar, founded in 1984, is a diversified electronics manufacturer specializing in data storage and power supplies. Qualstar is a leading provider of high efficiency and high density power supplies marketed under the N2Power™ brand, and of data storage systems marketed under the Qualstar™ brand. Our N2Power power supply products provide compact and efficient power conversion for a wide variety of industries and applications including, but not limited to telecom, networking, broadcast, industrial, lighting, gaming and test equipment. Our Qualstar data storage products are used to provide highly scalable and reliable solutions to store and retrieve very large quantities of electronic data. Qualstar’s products are known throughout the world for high quality and Simply Reliable™ designs that provide years of trouble-free service. More information is available at www.qualstar.com or www.n2power.com or by phone at 805-583-7744. Connect with Qualstar on LinkedIn or Twitter.

Cautionary Statement Concerning Forward-Looking Statements

Statements used in this press release that relate to future plans, events, financial results, prospects or performance are forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995 and include statements relating to when shipments against orders are expected to occur. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements. These forward-looking statements are based upon the current expectations and beliefs of Qualstar's management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. For further information on these risks and uncertainties, please refer to the risk factors discussed in Qualstar’s filings with the U.S. Securities and Exchange Commission including, but not limited to, Qualstar’s Annual Report on Form 10-K for the fiscal year ended December 31, 2017, the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” section of such Form 10-K, and any subsequently filed reports. All of Qualstar’s filings are available without charge through the SEC’s website (www.sec.gov) or from Qualstar’s website (www.qualstar.com).The information contained in this press release is as of the date of this press release. Notwithstanding changes that may occur with respect to matters relating to any forward looking statements, Qualstar does not expect to, and disclaims any obligation to, publicly update any forward-looking statements whether as a result of new information, future events or otherwise. Qualstar, however, reserves the right to update such statements or any portion thereof at any time for any reason.



http://cts.businesswire.com/ct/CT?id=bwnews&sty=20180412005248r1&sid=acqr7&distro=nx&lang=en

View source version on businesswire.com: https://www.businesswire.com/news/home/20180412005248/en/

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Is that even possible? BLKCF is a start up company so it is too early for divys..

DVAX continue to climb.. Let's see if its green tomorrow too.. Love to see this on a 5 green days in a row..

Struggling to hold that $20 mark but no worries..

A year from now (or maybe sooner) depending on the sales of their Heps we could be in the $30s coupled that with a good result on their SD101..

Future is bright for DVAX.. Hang tight

We all know Blockchain is the future and patience is the key here..
Hoping for a good update..

Been a good last week and this week for DVAX.. I know its a few months away but I am looking forward to see how much they sold on their Heplisav in terms of the dollar figure..

Yes it is..I am down but not out in my long position..