Perception is everything.
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I saw some ugly videos the last 2 days due to bad weather conditions in Texas, amongst other states and areas. I hope it didn't effect the Recom facility or delayed the DGU-project development.
And of course I hope it didn't harm people's well-being for those hit by the stormy weather.
Anyone of you living in the Texas / Midland area?
I encourage you to read the whole "Revised Proxy Statement Pursuant to Section 14(a)" dated 23-04-2015.
With regards to your question, see page 15.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10642316
Extract
PROPOSAL NO. 3:
APPROVAL OF THE AMENDMENT TO OUR
ARTICLES OF INCORPORATION TO INCREASE OUR AUTHORIZED CAPITAL STOCK
The Board of Directors has adopted resolutions approving an amendment to the Articles (the “Subsequent Increase”) to further increase the Company’s authorized shares of common stock to provide for 900,000,000 shares of common stock by filing an amendment to its Articles with the Florida Secretary of State. No increase in the number of authorized preferred stock is being contemplated by the Board of Directors at this time.
The Board of Directors believes that the increase in our authorized common stock will provide us with greater flexibility with respect to our capital structure for purposes including additional equity financings and stock-based acquisitions.
Effects of the Increase in Authorized Common Stock
The additional shares of common stock will have the same rights as the presently authorized shares, including the right to cast one vote per share of common stock. Although the authorization of additional shares will not, in itself, have any effect on the rights of any holder of our common stock, the future issuance of additional shares of common stock (other than by way of a stock split or dividend) would have the effect of diluting the voting rights of existing
stockholders. At present, the Board of Directors has no plans to issue the additional shares of common stock authorized by the Subsequent Increase other than the following:
• To be able to issue the 43,359,487 shares of common stock constituting the Acquisition Consideration and an additional 43,859,487 such shares in the event that the shares of common stock shall have traded for an average of $.50 per share for 10 days;
• To be able to provide for the conversion of outstanding convertible debt instruments, which the Company presently expects may require the issuance of up to 300,000,000 shares of common stock;
• To be able to reserve approximately 60,000,000 shares of common stock for issuance under an incentive plan that the Company expects to implement within the foreseeable future; and
• To be able to provide for the issuance of shares of common stock for the future growth of the Company. As the Company disclosed in its Current Report on Form 8-K on March 10, 2015: “So as to accelerate Cirque’s entry into the waste-to-energy market, the Company is actively exploring acquisition opportunities – alone and with strategic financial partners – and is currently bidding on 150 megawatts (MW) of biomass power plant acquisitions.” Such acquisitions, even if completed with financial leverage, will likely require the Company to provide an equity component. However, it is possible that some of these additional shares could be used in the future for various other purposes without further stockholder approval, except as such approval may be required in particular cases by our charter documents, applicable law or the rules of any stock exchange or other quotation system on which our securities may then be listed. These purposes may include: raising capital, providing equity incentives to employees, officers or
directors, establishing strategic relationships with other companies, and expanding our business or product lines through the acquisition of other businesses or products.
It seems like you know mr. Rogers... I bet this deal was in the making long before he came on board 30 April but if you say so... I´m fine with it. If you talk to him again please tell him to contact some of the people mentioned in the articles below! They are in dire need for a DGU!
http://www.becomegorgeous.com/entertainment/celebrity_gossip/celebrities-who-own-islands-A13395
http://www.dailymail.co.uk/travel/travel_news/article-2795628/johnny-depp-s-bahamas-hideaway-leo-dicaprio-s-belize-bolt-hole-mel-gibson-s-fijian-escape-private-islands-rich-famous.html
http://www.hgchristie.com/blog/a-private-island-in-the-bahamas/
http://www.huffingtonpost.com/2012/12/26/private-islands_n_2365359.html
http://www.cat-island-real-estate.com/2011/07/celebrities-and-ceos-buying-bahamas.html
http://www.therichest.com/luxury/12-crazy-beautiful-private-islands-owned-by-celebs/?view=all
http://www.departures.com/travel/travel/david-copperfields-caribbean-island
0.0004? Must be another stock my friend. 0.0041 was the bottom during the last downtrend.
$EWRL (Cirque Energy Inc.) http://www.cirque-energy.com/home.html
Thanks, informative article with very useful links.
REEGLE Country Energy Profiles
http://www.reegle.info/policy-and-regulatory-overviews/BS
Ministry of the Environment (MOTE)
http://bit.ly/1HDqs7S
Bahamas Environment, Science & Technology Commission (BEST)
http://www.best.bs/index.html
Utilities Regulation and Competition Authority (URCA)
http://www.urcabahamas.bs/index.php
1.2.11 Preparing to Regulate New Sectors of the
Econom y
URCA was set up with the intent to regulate sectors other than the
ECS. The Government of The Bahamas recently published an Energy
Policy and is making preparations to reform the energy sector. In
connection with the stated Government policy positions, URCA
is readying itself to regulate the energy sector in The Bahamas.
It is anticipated that the Government will have legislation passed
in 2015 and that URCA will be given the authority to regulate the
energy sector. Likewise the Government is also working on the
reform of the water and sewerage sector in the country and has
engaged consultants to assist. URCA continues to work with the
Government and the consultants with a view of URCA becoming the
regulator for that sector in due course.
Electricity Act, the Out Island Electricity Act and the Out Island Utilities Act
http://laws.bahamas.gov.bs/cms/en/legislation/laws/by-title.html?view=acts_alpha
Capita selecta
17-10-2014
http://www.thenassauguardian.com/bahamas-business/40-bahamas-business/51042-energy-sector-stalled
04-12-2014
http://www.thenassauguardian.com/bahamas-business/40-bahamas-business/52220-electricity-act-amended-to-legalize-grid-tie-connection-net-billing
25-03-2015
The Electricity (Renewable Energy) Regulations, 2015
http://www.thebahamasweekly.com/publish/bis-news-updates/Deputy_Prime_Minister_of_Works_Communication_on_Electricity_printer.shtml
http://www.reeep.org/bahamas-2012
Make it 50K ... Already zipping on your weekend long drinks eh? Cheers mate!
Not necessarily...CIRQUE BIOMASS HOLDINGS, LLC
Newly formed subsidiaries can be put into this one as a "daughter". Not saying that this is the case in this particular case but it could.
http://www.investopedia.com/terms/h/holdingcompany.asp
I think he meant Saudi Arabia. LOL
Would you think NOC is already pitching the DGU?
I could imagine we still have some contacts in Puerto Rico. Remember?
Bingo! First of many to come! Those PPA's are cashcows.
Matthew Morris has been a long time affiliate / stockholder / financier. He proved to be pretty loyal to the company in the past as shown in the filings.
On November 7, 2013, Matthew Morris entered into an assignment agreement for $124,000 in cash with Asher Enterprises, Inc. for the purpose of assuming the right, title, and interest in and to three (3) 8% Convertible Promissory Notes (Asher Enterprise Promissory Note VI May 8, 2013, Asher Enterprise Promissory Note VII June 11, 2013, Asher Enterprise Promissory Note VIII July 3, 2013). Matthew Morris released the Company from holding 88,361,191 shares of common stock of the Company in reserve for these three (3) 8% Convertible Promissory Notes.
The last time he converted some debt was last April. Wether he sold those (partially) into the market or not is anyone's guess but if he did he's certainly not an aggressive seller although the conversion price of those were only 0.00252.
On April 9, 2015, Matthew Morris converted $12,600 of the amount owing him under the Note dated November 8, 2013 into 5,000,000 shares of the Company’s common stock.
Thank you, no problem. I'm glad I could have been of help.
Come again? Send al link to the PPS? I'm happy to help you but then you have to be a bit more specific. I have a feeling you're jumping from one subject to another.
So now you're worrying about a reserve of 25 mil. shares which won't be sold before at least July 15? There are other companies out there selling shares with 100's of millions at a time. I'm sure you are quite familiar with those. So with all due respect, if 25 mil. is too much, with currently an O/S of 250 mil., I advice you to trade only big board stocks. I think it's better for your health cause I have a feeling this is becomming too much for you. Take care!
First, let me be clear that I also don't like the terms. That being said, I'm cautiously optimistic that no immediate conversion of these notes will take place after July 15. Then again, I don't have a crystal ball so we all have to wait and see what will happen between now and July 15.
Second, I understand that you're not quite familiar with general accounting principles. So here's a link for free to an article which explanes in short a debt/ equite swap and why this is reducing debt.
Debt to Equity Swaps
http://www.steptoe.com/publications-6418.html
Enjoy
So it is likely to assume that the date of the special meeting of stockholders will not be announced before management is absolute sure of having the majority votes. That has always been the plan imo. As per your post and my own calculations, we're close to that point. We will see in the next few weeks.
Why always that negative look? If you've read the whole 8K, you'll notice they're actually eliminating debt. It's quite funny that you're not mentioning this because you made some pretty bald statements a few months back about the subject.
http://investorshub.advfn.com/boards/replies.aspx?msg=111446294
On May 13, 2015, the Board of Directors of the Company adopted a resolution to issue 17,210 Class B Shares to Roger W. Silverthorn (the Company’s President and Chief Executive Officer), 17,210 Class B Shares to Richard L. Fosgitt (the Company’s Executive Vice President), 4,529 Class B Shares to David W. Morgan (the Company’s Chief Financial Officer) and 906 Class B Shares to Thomas G. Coté (a member of the Company’s Board of Directors) in consideration for accrued, but previously unpaid compensation. The Class B Shares were issued in reliance upon the exemption provided by Section 4(a)(2) of the Securities Act of 1933, as amended.
What? Don´t want to spoil your enthusiasm but that's the 2014 list....
2014 Companies in Attendance
Lawmakers debate our energy future as Michigan coal plants go offline
http://michiganradio.org/post/lawmakers-debate-our-energy-future-michigan-coal-plants-go-offline
In a broader perspective...for general educational purposes here's a 50 min.+ radio interview with, among others, Paul Gilman (senior vp and chief sustainability officer of Covanta). It has been recorded 30-04-2015 (Warning, the interviewer is speaking....a....little....bit...slowly..)
http://thedianerehmshow.org/shows/2015-04-30/the-pros-and-cons-of-waste-to-energy-incinerators
Here's another article (although from early last year) outlining some of the problems discussed in the above radio interview):
http://www.tulsaworld.com/business/businessviewpoint/john-matheson-tulsa-waste-to-energy-disposal-more-green-than/article_0d5e6915-0fdb-542f-b358-2f397ad71e6f.html
And lastly, another recent one about the current California issue:
http://hanfordsentinel.com/news/in_focus/california_drought/decline-of-valley-biomass-plants-a-threat-to-ag/article_df7d7afc-fb0a-5ca0-a640-72a81a5be9b3.html
Have a good weekend all!
Those technical details are very hard to comprehend...at least for me
Just to compare...here's an example of a downdraft gasification plant:
http://www.rewmag.com/phg-energy-signs-contract-lebanon-tennessee-gasification.aspx
"obtained five new patents on the company's downdraft gasification technology."
Old news for us but I guess a little bit exposure can't harm us . Posted 30-04-2015 on rewmag... A little sloppy though if you ask me to post an article quoting a CEO who has just passed away...
http://www.rewmag.com/cirque-energy-updated-business-strategy.aspx
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of
Certain Officers
On August 01, 2011 Gerry Shirren, President and Chief Financial Officer of E World Interactive, and Mr. Patrick Rogers resigned their positions from the
Board of Directors effective immediately. Mr. Shirren and Mr. Rogers have confirmed that there is no disagreement between them and the Board or the
Company. Also on August 01, 2011, Mr. Frank O Donnell, Mr. Joe DuRant and Mr. Dan Garman were appointed to the Board of Directors of E World
Interactive, effective immediately.
Sharp! Thanks!
For sure interesting...with his background...
I assume now we know at least one of the reasons Joe was in Vegas this month.
I'm not 100% sure but I think it's this company although no mentioning of his name on it...so I could be wrong..
http://thelagunagroup.org/
On Linkedin it mentions also CEO of Global New Media, Inc....haven't searched for that one yet..
https://www.linkedin.com/pub/patrick-rogers/19/708/993
With Cirque's ESCO services in mind.... don't you think this one could have been on his agenda?
CxEnergy 2015 Premier Conference & Exposition for Commissioning and Energy Management
April 27-30, 2015
Green Valley Ranch Resort & Spa, Las Vegas, NV
http://energymeetings.com/event.aspx?EventID=695
Presentation:
http://www.google.nl/url?sa=t&rct=j&q=&esrc=s&source=web&cd=5&cad=rja&uact=8&ved=0CDgQjBAwBA&url=http%3A%2F%2Fwww.cxenergy.com%2Fwp-content%2Fuploads%2F2015%2F01%2FCx-Energy-presentations-confirmed-as-of-1-9-15-Letterhead.doc.pdf&ei=sh9BVcvZNciPPbLcgNAC&usg=AFQjCNFpsxw7ZPSGEurLQ8lMRHUJx8SjBg&bvm=bv.91665533,d.ZWU
(sorry for the large link but apparently I currently can't open CXenergy's website...)
Michigan Democrats propose doubling clean-energy standards 23-04-2015
http://www.midwestenergynews.com/2015/04/23/michigan-democrats-propose-doubling-clean-energy-standards/
I just read DuRant was there.... RIP
For those interested: for general and detailed information about Cali forestry / wood biomass research (legislative, environmental, biomass plants etc.) the best place to start is UC's website. View youtube-vid's, download reports and presentations, links to other sites, it's all there.
http://ucanr.edu/sites/forestry/
http://ucanr.edu/sites/WoodyBiomass/
http://ucanr.edu/sites/forestry/?blogasset=56962&start=1
Enjoy your weekend!
Have to disagree with that statement. Although I'm just a "stupid" foreigner but the last PR is not a rehash of the blog posts from the last 2 years. I really have no clue how you come up with that.
I probably read things with a different angle I guess...
On a side note, if you are of the opinion that they didn't make any progress in the last 2 years what exactly is it that keeps you interested in this company? Feels like self-flagellation to me.
That is how you interpret "old". The PR is 6 weeks old. In my book that's pretty current, and certainly for this company!
Name one big-board company that's updating it's stakeholders on projectdevelopment every 6 weeks, that is, publicly? I don't know on of them.
And they have no reason or duty for it too.
not the possibility of 900,000,000 injected into our SS
And how exactly do you come up with that number if I may ask?
And yes, the A/S increase was expected. That is, at least by some who take the time to study financials and filings.
Man, take a deep breath and enjoy your weekend!
Hey, I don't have a crystal ball. My opinion is based on the filings, the notes mentioned therein and the numbers from the TA. Since 14-04-2015 no increase in O/S.
I agree. Since 02-02-2015 give or take 50 mil. shares have been distributed untill 14-04-2015.
If you study the notes and their timelines, the dilution is over for now.
Looking at the shareprice right now, someone thinks alike!
Yes sir....games...and retail bailing. I don't mind, all my bids have been filled again for today. Looking forward to tomorrow for a fresh new day of fishing!
The game of speculation is the most uniformly fascinating game in the world. But it is not a
game for the stupid, the mentally lazy, the person of inferior emotional balance, or the get rich-quick adventurer. They will die poor. ~ Jesse Livermore
Very informative stuff...look for biomass...and project size...(DGU in mind)
SB 1122: Bioenergy Feed-in Tariff
http://www.cpuc.ca.gov/PUC/energy/Renewables/hot/SB_1122_Bioenergy_Feed-in_Tariff.htm
http://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=201120120SB1122&search_keywords=
http://www.pge.com/en/b2b/energysupply/wholesaleelectricsuppliersolicitation/standardcontractsforpurchase/index.page?WT.mc_id=Vanity_feedintariffs
http://www.pge.com/en/b2b/energysupply/wholesaleelectricsuppliersolicitation/ReMAT/index.page
http://energy.gov/savings/feed-tariff
Nice device!