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If they can sell to a bankrupt utility there’s no reason with a little effort they couldn’t sell more....... other than the fact the CEO is a blind squirrel and seems to happen upon a nut every 2 years or so.
They didn’t even PR the earnings release.
Having a good product has never been their problem.
Slide deck from April 16 presentation shows:
2020 production 75% hedged @ $58/bbl
2021 production up 5% to 55% hedged @ $55/bbl
70%+ hedged through 2021
Slide deck from the JP Morgan conference on 02/24
ONGOING POLICY OF RISK MANAGEMENT - Northern continues to execute a strategy built around the safeguard of returns during a commodity down-cycle, while retaining flexibility to capture the opportunistic upside
About 75% of 2020 and 50% of 2021 production hedged
Update Hedges:
2020
Q1 2,664,356(barrels) @$57.93
Q2 2,568,278(barrels) @$57.67
Q3 2,501,348(barrels)@$58.47
Q4 2,372,362(Barrels)@$58.03
10,106,344 (Bbls) @58.02
Earnings release would have been the logical time to add this new wrinkle to the PR. However, you get what you pay for in a CEO........ wait - never mind.
Here’s the problem with management in a nut shell. They just posted a Qtr and year in which they actually had earnings. Not a single PR around that event ......... which would also have been a great time to mention- oh by the way we’re also making face shields.
Great! I’m now invested in a company that makes face shields at $16 a pop. Gotta sell a bunch of those so the CEO can trouser his back pay of $600k
http://www.evtn.com/index.html
Nice earnings release. Not even noted on Yahoo. ??
And we still owe him $610,965 in “unpaid accrued” salary!! Wow!
For 2019 and 2018, the Company paid Mr. DiBella $412,796 and $586,000, respectively, including accrued salary which was owed to him from prior years.
This is awesome!!!
How Mr. DiBella’s Compensation is Determined
We are not a party to an employment agreement with Mr. DiBella. His compensation is determined by the Board of Directors of which he is one of the two members. Effective January 1, 2018, the board of directors of the Company reduced Mr. DiBella’s annual compensation to $210,000 from his 2017 level of $305,000. In May 2018 the board of directors issued Mr. DiBella 1,000,000 shares of the Company’s common stock valued at $50,000 as bonus compensation for his efforts in connection with the closing of the Technology Purchase Agreement, and in November, 2018, the board of directors also approved the health insurance benefit for Mr. DiBella. For 2019 and 2018, the Company incurred salary expenses for Mr. DiBella of $210,000 and $210,000, respectively. For 2019
and 2018, the Company paid Mr. DiBella $412,796 and $586,000, respectively, including accrued salary which was owed to him from prior years. The unpaid accrued salary balances as of December 31, 2019 and 2018, are $610,965 and $831,761, respectively. The timing of the payment of any of the accrued but unpaid compensation due Mr. DiBella may be determined by the board of directors at any time. In addition, Mr. DiBella’s compensation may be changed at anytime by the board of directors.
10k up
Looks like even a CA school is 3D printing face shields.
https://www.google.com/amp/s/abc7news.com/amp/coronavirus-pandemic-ppe-shortage-personal-protective-equipment/6081994/
CEO just looking for more cash to trouser.
These guys haven’t sold a darn thing in over a year and now they’re going to make face shields? Everyone is making face shields and just giving them to hospitals. Apple is making shields. Boeing is making shields, MIT, NYU..... even our local high school is 3D printing shields for the hospitals.
Stimulus part 4. What are the chances these blind squirrels can find themselves some drinking water system $’s?
The plan, based on a five-year, $760 billion framework unveiled in January, includes money for community health centers, improvements to drinking water systems, expanded access to broadband, and upgrades to roads, bridges, railroads and public transit agencies.
And yet they’ve filed NT 10-k. Not many moving parts to that balance sheet so I’m sure they’ll use Coronavirus as an excuse...... even though they’re late every year.
I hope I’m wrong but I’d be surprised if they have anything in the pipeline. I expect to see more of the already pointed out “trousering” of the company cash by the CEO. He’ll continue to do nothing and bleed the cash off the balance sheet quarter by quarter.
More pockets for trousering the cash.
Any guesses on how much cash the CEO “trousered” for Q4?
Less than 10k shares traded so nothing
Will the blind squirrel find another nut?
These guys really haven’t sold squat in a year or so.
That sale to the utility has been in the pipeline for over a year. What do we have to look forward to?
This is fantastic!! CEO is robbing the shareholders blind. At least his unpaid balance is down to $571,261 as of September 30, 2019.
September 30, 2018 it was $1,181,261 or about the total market cap of the company.
NOTE D - RELATED PARTY TRANSACTIONS
On January 4, 2018, the Company’s board of directors reduced the annual compensation of the Company’s chief executive officer from $305,000 to $210,000, effective as of January 1, 2018. For the three and nine months ended September 30, 2019, the Company incurred salary expenses from the Chief Executive Officer of the Company of $52,500 and $157,500, respectively. During the nine months ended September 30, 2019, a total of $400,000 of salary and accrued salary have been paid. The total unpaid balance as of September 30, 2019 is $571,261 and is included in accrued expenses – related party. In November 2018, the Board of Directors also approved the health insurance benefit for our CEO. For the three and nine months ended September 30, 2018, the Company incurred salary expenses from the Chief Executive Officer of the Company of $52,500 and $157,500, respectively. Of these amounts, $157,500 had been paid for the nine months ended September 30, 2018. The total unpaid balance as of September 30, 2018 is $1,181,261 and is included in accrued expenses – related party.
He’s paying down debt. Lol!!!
Agreed. Q3 will be highlighted by more trousering of cash by CEO ....with the possibility of a decent Q4.
Getting this up and running should add some needed credibility.
Yes -
FORT LAUDERDALE, Fla., Nov. 14, 2019 (GLOBE NEWSWIRE) -- Enviro Technologies, Inc. (EVTN) announced today that it has shipped a multi-stage wastewater system to a utility customer for the separation of oil and solids from water at a rate of 120 gallons per minute prior. The clean water will be discharged into the environment.
The EVTN V-Inline separator was chosen as a solution for its many unique benefits, including low maintenance, no pressure drop requirement and an ability to perform efficient separation with varying flow characteristics. This multi-stage wastewater system is constructed out of SuperDuplex 2507 and Teflon due to the high fluctuation in pH levels and engineered to meet stringent seismic codes and limited available space. The wastewater system was fabricated in three separate skids, which was shipped disassembled and will be reassembled at site.
The wastewater system includes different technologies with the heart of the system comprised of 2 V-Inline Separators working in parallel doing the bulk of the separation with a 3rd, smaller V-Inline Separator utilized to dewater the reject lines from the System.
“The V-Inline Separator is a good solution that can be used in many different industries outside of the oil and gas markets. We are evaluating other projects in different industries and are looking to develop relationships with companies that can increase our sales opportunities,” stated John DiBella, CEO of EVTN.
Makes the purchases on 11/6 and 11/7 all the more interesting........the thing hadn’t traded for almost a month
Well...... there ya go
Are we going to make it a full month without a single trade?
2 months left
Considering these guys haven’t sold anything since I think it’s just prolonging the inevitable
The chart as well as the company have flatlined
Can’t seem to get the website up today ??
Here we are in Q4. Let’s see if the bankrupt utility takes delivery.
Looks like someone knows the trousering of the company cash has accelerated.
Someone was desperate for their $1,100