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I wonder how they will fund this? $2.7 M/year in wages with a $50k tax credit per year over 10 years, with NXT investing $914k. The last thing NXT needs today is a tax credit, so they will need to be making some quick profits to make any use of this.
The value of the credit is just $20k / year, (=40% of $50k / year) assuming a 40% tax rate, so this investment is not being driven by the tax credits. I have no idea what the NY tax rate is but even if it was 80%, it doesn't get much money back to NXT.
Natcore Technology Receives $500K Jobs Tax Credit from NY State
Lease Renewal Signals Intent to Grow Solar Industry in Rochester
RED BANK, N.J., May 17, 2013 /CNW/ - Governor Andrew M. Cuomo today announced that Natcore Technology of Red Bank, NJ, will expand its footprint, and add 27 new jobs as part of an expansion project in Greece, New York, at Eastman Business Park. Lt. Gov. Robert Duffy was on hand for the announcement in Rochester, NY.
The expansion is being driven by a $914,000 company investment, supported by $500,000 over 10 years in Excelsior Jobs Program tax credits. The average wage for the jobs created will be $98,000 per year, with the entire project expected to result in $40,000,000 in wages over the 10 years of the agreement.
Governor Cuomo says, "Too many times, our country has let technology slip away. Entire industries—for example, television sets and digital photography-- followed. Now Natcore's technology gives us an opportunity for the global solar industry to be centered right here in Rochester. The Finger Lakes Regional Economic Development Council has worked hard to make that happen."
"Governor Cuomo is committed to creating jobs and rebuilding the economy in Western New York, and today it is clear that Natcore Technology is contributing to this goal," Lieutenant Governor Robert J. Duffy said. "Today's announcement reveals more high-tech jobs and yet another economic boost at the Eastman Business Park, which will have a great impact in Rochester and the entire region."
Natcore also today extended its lease at Eastman Business Park, the large industrial park formerly known as Kodak Park. The lease extension expands Natcore's footprint to 20,000 sq. ft. The additional space is required to accommodate new equipment that will be used to perfect the company's black silicon and selective emitter technology.
Chuck Provini, Natcore President and CEO, says "The Empire State Development incentive will help us to expedite the move of our technology from the lab to the factory floor. But more important was the cooperation and the persistence of the state and local officials, and of Congresswoman Louise Slaughter, in getting us where we are today. We already have our eye on the first new lab hire afforded by this program, with more to come. We are making major equipment investments. We are moving from university-based research into the real world."
And Natcore announced that it will move its lab administration function from Red Bank, NJ, to office space in downtown Rochester. "We already have our eye on the first employee for this office," says Provini.
It is obsessive-compulsive to think big volume means something is up every time there is no news. NXT has to NR any news when it happens.
150k shares is nothing anyway.
After all these years you still haven't caught on that bankrupt Kodak doesn't do solar R&D? They even nr'ed that once I believe.
NXT said it has no effect on them a year or so ago. Look at their focus that you just posted.
I have never even seen big board moves have an effect even when you are big and selling product. I worked for a $7B oil company that used to preach about the virtues of having both NYSE and TSX listings, then one day the emperor's clothes fell off when they dropped the NYSE listing.
I know the chief of BCM on Venture who has sold 2 companies for more than 1 billion dollars and is working their third. They said they don't see any value in "graduating" and have done well as an undergraduate, lol.
There is no upgraded listing potential. I have seen a few companies dream/think NASDAQ is the answer and get zero for all the $ they pay to go there. Not to mention the higher share price that a listing there requires, that can only be obtained by a share consolidation.
A move to the Toronto Exchange is a similar dud event. I am much more familiar with this event and have watched a bunch announce they have "graduated" which is the term they all use. Unfortunately for the dreamer investors, the sp does not graduate at all. Stockhouse and iHub posters go wild about what the prospects will be after their graduation, but nothing happens.
Think about it. No more solar panels occur with graduation.
cosmic rambler - Agreed, we never heard about a furnace before. It seems every breakthrough they make involves something we didn't know was a roadblock before. Unfortunately there aren't any real (or at least credible) analysts covering this company so we are at the mercy of Provini news and have to make our own leap of faith or sell.
They won't be going into the biz of selling cells though. It would take billions in capital and there are already factories built, so why build when you can provide an essential element instead? That has always been their plan, razor, blades, right to shave etc.
There are virtually no shorties in the below list on NXT. Lots of times when people exercise warrants or options they shortsell to lock the price and deliver the paper 3 days later after settlement. That is what I will do when I exercise my warrants, should the opportunity arise. Those transactions (which are just financial instruments and not true shorts) would be included in the below list, so the actual # of true shorts is even smaller, if it even exists.
There are no MM on the Venture, although anything is possible on the Pink but it doesn't have much of the total NXT volume, so the chance a Pink MM could be influential in the sp is unlikely too. Shorts and MM are favorite bogeymen of the paranoids when their stock doesn't behave the way they want it to, because paranoids don't PROVE this really happens just allude to it.
2013-03-31 4,000 -13,500 0.01
V : NXT 2013-03-15 17,500 -15,100 0.05
V : NXT 2013-02-28 32,600 28,100 0.08
V : NXT 2013-02-15 4,500 -8,913 0.01
V : NXT 2013-01-31 13,413 -11,055 0.03
V : NXT 2013-01-15 24,468 -32 0.06
V : NXT 2012-12-31 24,500 7,028 0.06
V : NXT 2012-12-15 17,472 12,850 0.05
V : NXT 2012-11-30 4,622 -13,878 0.01
V : NXT 2012-11-15 18,500 14,500 0.05
V : NXT 2012-10-31 4,000 -100 0.01
V : NXT 2012-10-15 4,100 98 0.01
V : NXT 2012-09-30 4,002 -25 0.01
V : NXT 2012-09-15 4,027 -34,973 0.01
V : NXT 2012-08-31 39,000 -5,136 0.10
V : NXT 2012-08-15 44,136 14,830 0.11
V : NXT 2012-07-31 29,306 -59,894 0.08
V : NXT 2012-07-15 89,200 83,764 0.26
V : NXT 2012-06-30 5,436 -262,812 0.02
V : NXT 2012-06-15 268,248 259,748 0.79
V : NXT 2012-05-31 8,500 8,500 0.03
V : NXT 2012-05-15 0 -159 0.00
V : NXT 2012-04-30 159 -90 0.00
V : NXT 2012-04-15 249 249 0.00
V : NXT 2012-03-31 0 -500 0.00
V : NXT 2012-03-15 500 500 0.00
V : NXT 2012-02-15 0 -17,961 0.00
V : NXT 2012-01-31 17,961 17,961 0.05
V : NXT 2011-12-15 0 -6,511 0.00
V : NXT 2011-11-30 6,511 6,511 0.02
V : NXT 2011-11-15 0 -19,711 0.00
V : NXT 2011-10-31 19,711 18,211 0.06
V : NXT 2011-10-15 1,500 1,500 0.00
V : NXT 2011-08-15 0 -9,500 0.00
V : NXT 2011-07-31 9,500 6,500 0.03
V : NXT 2011-07-15 3,000 3,000 0.01
V : NXT 2011-06-30 0 -29,500 0.00
V : NXT 2011-06-15 29,500 -5,500 0.09
V : NXT 2011-05-31 35,000 -4,000 0.10
V : NXT 2011-05-15 39,000 -8,726 0.12
V : NXT 2011-04-30 47,726 34,826 0.15
V : NXT 2011-04-15 12,900 12,587 0.04
V : NXT 2011-03-31 313 211 0.00
V : NXT 2011-03-15 102 102 0.00
V : NXT 2011-02-15 0 -1,000 0.00
V : NXT 2011-01-31 1,000 1,000
V : NXT 2011-01-15 0 -3,153
V : NXT 2010-12-31 3,153 -97
V : NXT 2010-12-15 3,250 250
V : NXT 2010-11-30 3,000 -1,500
V : NXT 2010-11-15 4,500 1,500
V : NXT 2010-10-31 3,000 0
V : NXT 2010-10-15 3,000 0
V : NXT 2010-09-30 3,000 -2,340
V : NXT 2010-09-15 5,340 -47,660
V : NXT 2010-08-31 53,000 -14,600
V : NXT 2010-08-15 67,600 62,400
V : NXT 2010-07-31 5,200 -1,000
V : NXT 2010-07-15 6,200 4,200
V : NXT 2010-06-30 2,000 500
V : NXT 2010-06-15 1,500 0
V : NXT 2010-05-31 1,500 -41,500
V : NXT 2010-05-15 43,000 -133,100
V : NXT 2010-04-30 176,100 160,940
V : NXT 2010-04-15 15,160 15,160
V : NXT 2010-01-15 0 -500
V : NXT 2009-12-31 500 500
V : NXT 2009-12-15 0 -4,600
V : NXT 2009-11-30 4,600 -500
V : NXT 2009-11-15 5,100 -41,900
V : NXT 2009-10-31 47,000 47,000
V : NXT 2009-06-15 0 -500
V : NXT 2009-05-31 500 500
V : NXT 2007-03-31 0 -107
V : NXT 2007-03-15 107 0
V : NXT 2007-02-28 107 0
V : NXT 2007-02-15 107 0
V : NXT 2007-01-31 107 107
V : NXT 2005-12-31 0 -140,520
V : NXT 2005-12-15 140,520 140,520
Paranoid posters with baseless claims from outer space information sources are to be found on any board. There is no IQ test to post, so I leave it to the reader to reason in his own mind (assuming he has one) who is correct.
The paranoids believe big guys control the markets, ergo the bulk of the investing profits to be made, yet the paranoids continue to invest in what they claim is a rigged market which obviously would not have much if any profit left for the tiny paranoid player to participate in. Go figure.
Kungfu - Really, power groups shutting down the regulated Venture Exchange. Where in the world (or was the news broadcast from outer space) did you find a reliable source for that news? Or is it still a secret as they build their axis of evil while pushing (secretly of course) down the prices of all companies there? And exactly how would they push the prices all down - by buying the companies controlling blocks of shares up at high prices and selling enough down at losses so the rest of the shareholders sit back and don't take advantage of the bargains?
To everyone else. The Venture is not controlled by special interest groups anymore than the NYSE is.
Go here for all info.
http://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00026055
The Venture is a regulated exchange, not like the pinks where I know one guy from Saskatchewan issued 1 B shares to himself and sold them off for $.02 / share to unsuspecting investors who didn't realize the company had so many shares out and there was no way ot find out.
Their message board is clogged with people looking for 15 minutes of fame, either shouting what the bid ask is or what they think the price will be. If there was a way to filter them out I might be able to see if anyone has anything interesting to say.
http://www.hypersolar.com/news_detail.php?id=46
The Calgary company makes electricity without solar, so keeps the power on when the sun or wind doesn't cooperate. I didn't read much of your article but perhaps it has its advantages too.
Rust never sleeps, Neil Young famously observed. Now a team of researchers based at the University of Calgary has discovered that rust, along with a few other choice ingredients, may be the key to turning sporadic sources of renewable energy into a round-the-clock power supply.
Reporting in Friday’s edition of the journal Science, the team has developed a type of cheap chemical catalyst – a material that can speed up the breakdown of water to produce hydrogen gas. The hydrogen represents stored energy that can be converted back to electricity when needed.
If it can be made to operate at a commercial scale, the new catalyst would offer a way to capture excess energy from solar panels and wind turbines for later use and make renewable energy a more practical proposition for consumers.
“That would make us a lot less reliant on carbon emitting fuels because we could run our houses almost entirely on renewable energy,” said Simon Trudel, a chemist who is part of the Calgary team.
The classic challenge for renewable energy is that available supply does not always correlate with demand. The wind may be blowing at 2 a.m., but there is little need for the energy generated at that moment – hence the interest in catalysts that can facilitate renewable energy storage and smooth out the supply problem.
Catalysts that can do this are typically made with rare metals such as iridium and rubidium which are prohibitively expensive for commercial purposes. The Calgary team found they could replace such pricey ingredients with iron oxide – rust – among other materials, to create an effective electrolyzer that can be applied onto a surface in the form of an amorphous film.
“We’re able to get a performance that matches or even exceeds that of more expensive metals,” said Curtis Berlinguette, a chemist and director of the university’s Centre for Advanced Solar Materials.
The scientists have launched a spinoff company to develop the material for commercial use. They envision household storage units that can soak up extra energy from renewable sources such as wind and solar at times when that energy isn’t being used.
In addition to being relatively cheap, the catalyst is non-toxic and operates under conditions that make it suitable for a home appliance.
“Because this is done in air, and at room temperature, it’s a very nice and scalable method,” said Dr. Trudel, who together with Dr. Berlinguette hit upon an approach to creating the catalyst three years ago during an impromptu pub night discussion.
Outside experts caution that the amorphous material produced by the Calgary team has a way to go to prove itself. In addition to low cost, the material must be chemically durable for long term use and efficient at converting electrical energy in hydrogen.
“Efficiency is very important,” said Chris Ainscough, a senior engineer at the National Renewable Energy Laboratory in Golden, Colorado. Because hydrogen production must be paired with a fuel cell that can turn the energy back into electricity, there is a loss of efficiency at both stages of the round trip cycle.
Last year, the US Department of Energy set a target efficiency for electrolyzers at 82 per cent. Rodney Smith, a postdoctoral fellow at the Calgary lab and lead author on the Science paper, said the group had measured the efficiency of its material at between 85 and 90 per cent at low output but noted, “As with all systems, efficiency will decrease as we increase the output rate.”
Dr. Smith said the next phase of the work would involve building a complete system around the new material.
“The work has promise to provide a lower cost solution,” said Jack Brouwer, Associate Director of the National Fuel Cell Research Centre at the University of California, Irvine, who was not involved in the research.
The notion of hydrogen as an alternative fuel has a history of passing in and out of fashion. One barrier is the effort needed to drive the complex chemical reaction that ultimately splits hydrogen off from water.
“Nature works against us,” said Dr. Brouwer. Under normal conditions at Earth’s surface, “the natural state that hydrogen wants to be in is in the form water.”
Nevertheless, he added, when there is an available supply of electricity that would otherwise be wasted, hydrogen offers an energy storage medium with many advantages. “In context, this type of technology makes perfect sense,” Dr. Brouwer said.
Dr. Berlinguette noted that the catalyst work is an example of the kind of basic science that could use more support in Canada. Following the release of its 2013 budget the federal government has been criticized for emphasizing a more short-term and targeted approach to research with industrial partners.
“This is not a project that would have been sponsored by any company,” said Dr. Berlinguette, “Even though that’s where the funding has shifted to in Canada.”
kungfu
You are basically saying the same thing. He meant because so few Venture have more than prospects most of the Venture was dead. For sure no one will avoid NXT if they can bridge the chasm so I don't think the article was disagreeing with that.
This valueless award goes to every tech company on Venture that I own. Big deal. Venture companies that are noticed have sales, not awards.
http://www.jimletourneau.com/ Scroll about halfway down this site and find this article.
TSX Venture Mostly Dead
When I see a tweet with @jimletourneau in it that says "TSX.V has a computer trader suppressing the stock. Help blow up the algorithm!" (I'm not going to name any names here), I'm intrigued. The stock in question trades for 6.5 cents.
I feel the urge to make the point that the shares have doubled in the last month meaning they've been as low as 3 cents. Then I get another twitter message "new shareholders everyday for TSX.V. 2013 will be fun."
Then I get an email "We have real traction. The 5 year chart indicates that this is the best time to invest. No brokers or institutions following yet. Just real people."
The real people can't afford to waste their capital, dare I say retirement capital, because the demographics at the conferences I go to are skewed heavily towards almost/semi/completely retired white males.
The next tweet "being public has been a detriment. Too many bad IPOs, investors spread thin."
The TSX Venture is mostly dead. Every nano drop of mom and pop risk capital has been harvested and somewhere along the way evaporated. What is left?
More importantly, what have we learned?
The poison pill is a non event, just an administrative kind of thing. I have never seen one invoked. It just gives mgmt. a few extra weeks to find a competing bid. If, as, and when needed which is not now since the only takeover bids are what is being dreamed up and posted on IH.
The job is part time chair of an advisory board. The NR wouldn't list his MX job in the present tense if he quit. The BOD isn't a full time job either.
Anyone can tell their broker to make trade listed as anonymous. I have done it myself when my broker wanted to make the CEO (who my broker hated) at a company with illiquid stock think something big might be happening in the investment community. We sold stock from my rsp to my wife's margin account so nothing even happened.
Sure enough, when I called the chief about something else that day, he mentioned that a large trade went through as anon, and said someone is interested in what we are doing.
Tell us how long it is as we would like to understand.
"I would like to assure everyone, however, that even though we are being introduced to many opportunities, we remain totally focused on the solar arena, particularly the tandem solar cell. The other applications, which are closer to commercialization, help pay the bills and reduce the amount of dilution that might arise through financing."
I have 2 questions while I wonder exactly what he means if they are closer to commercialization but will only "help" pay the bills. Are they just tiny revenue generators and if they are closer will news come earlier?
"Complete a second-generation AR-Box™. This solar cell processing station will be designed to produce black silicon solar cell wafers in a pilot line role in existing solar cell manufacturing facilities. Pending a successful testing outcome, we then hope to sell the machine to a Chinese cell manufacturer who has been sending us their cells to coat, test and optimize"
Anyone have any idea how long the testing will take?
Focus on a specific complaint please. Don't generalize.
"If I was into conspiracy theories I would suggest the big boys have been playing us all along and are using the staged drama of the "fiscal cliff" to get prices even lower so they can make staggering profits and control entire sectors of the economy. "
Please never post this stupid crap again. Even if you are a non mortal capable of reading minds I don't want to know about it and if you can't then why post it as if it had value......
NXT doesn't need most firms to buy their product, because just one or 2 sales will do for now. Any sale will be the beginning of a massive launch so generalizing about the state of the economy does not create doom for NXT.
The world has not stopped moving yet.
".. as most industrial's are putting off capital expenditures until next year."
Waste of time following those items unless you are writing a history book.
I already posted a few days ago the pp holding times in answer to oddone's question. It could get driven down to $.60 now that the restriction is off, but no one knows the holder's intentions so speculation is only useful after the trades have occurred and then only if you are writing a history book. I am in for the long haul on the shares I own because any news could be big news, it could happen any day and I don't want to be chasing it upward.
"to get a time series record of Restricted Shares vs. Public Shares"
Your second point is a waste of time, adding up the number of free trading share statistics unless you would like to write a history book. You can't speak to anyone who owns shares so you can't poll them every day to see what they will do.
If you insist on your stats, go study the short sales because those waiting for Nov 20 could already be shorting to deliver the paper on Nov 20. That is what I did whenever I blew out a pp, but who knows what they will do especially since Scarpa said the subscribers were guys who wanted to get a bigger position for a while.
Guess, guess, guess, then compile stats, then write a useless report.
It is always 4 months from closing date of the pp before the shares and warrants come free trading. PP are only available to accredited investors with $1M in financial assets or $5M in total assets or $250k per year earnings or close friends of the board. All these safeguards are to make sure if it is a scam that it won't work out well for those attempting to pull it off. Since no brokerage is involved to perform dd, the safeguards are put in place.
If it was a full blown prospectus, which it wasn't, it would be immediate free trading and open to anyone.
fwiw - Louise Slaughter, D-Fairport, handily defeated Monroe County Executive Maggie Brooks, R-Webster. Slaughter received 57 percent of the votes while Brooks received 43 percent, according to unofficial election results from the Monroe County Board of Elections.
I can save everyone the trouble of reading his speech. He says nothing about Natcore's future product timing and just mentions he doubled his money. "This company knows solar doesn't work without subsidies — and its technology promises to change that by doubling the efficiency and power output and cutting the cost in half while securing an ongoing revenue stream from companies across the globe.
It's up over 200% since March, when I toured their R&D facility in Upstate New York. There is much more ahead."
"..the design of the prototype black silicon machine that we hope to sell shortly."
If anyone knew what this word shortly really means in his sentence, then the readers of this board would vote them in on Nov 6th.
He makes $250k per year and you wonder on this board why he isn't answering your questions fast enough. Maybe he also has a corporation to run and prioritizes his duties.
Naterey have they stated they have been offered low ball jv offers? Al least that would put a floor on this thing.
So he is still fixated on US manufacturing. We pay him $250k/yr to make money for us, not rebuild America.
Not sure you have the right idea, but it is the one I have gone with too because the info just isn't there as this is R&D after all, although at any moment I may cut and run, lol.
No one will tell you the date for a deal or MX or revenue and it is immaterial whether NREL takes this forward or NXT.
The steps you complain about are indeed maddening but seem to be the way it will unfold for us unless some technical guys are able to show up on this board and fill us in. That is where a Nick Hodge or more likely the Lux Research guys could POSSIBLY get a complete strategy for us but only if NXT wishes to fill them in.
The main reason NXT goes alone is they want to serve the entire solar market and not be limited to what one company like GE can build. Why limit yourself by partnering the R&D?
Lots voted for her, so lots want to listen to her. It isn't as if she is the only speaker.