Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Feeling a little negative today - the biggest thing I fear in this bio biz is IF the Oil companies decide collectively BIO is a threat and try stop bio fuel in its tracks...how do they do that ? They dump the price of crude and flood the market for "awhile" with cheap fuel putting all the struggling bio producers out of business. Somewhere along the line here someone on the board mentioned they thought big oil was buying up a ton of agri futures contracts....now thats dirty pool and what I fear the most . If prices at the pump mysteriously start to fall off the cliff we are all in big trouble. I am watching all types of fuel and pump prices intently over the next few months. I also believe IF the gov. drops that .50 a gallon perk we are sunk. When that International paper scandal starts to get prime time airtime the general public may swing negatively - WRONGLY on bio fuel too - so that MAY be another hurdle for us. This is going to be a tough first quarter 2010 coming up I think for bio in general. J
Hog thanks for the info as always....guys as passionate and knowing as hog is and has been about this company I cant help but accumulate more......anyone who takes stock options rather than a dime has to believe its a big winner...........J
The GENX plant where the fire happened was only producing 25k gallons a week according to this article....so 100k gallons a month - we sold 950k gallons last month alone ....hmmmm ?
Biofuel plant plans to rebuild after arson fire
By MATTHEW WEAVER
Capital Press
A biodiesel production facility in Burbank, Wash., put off its plans to tap into growing biodiesel use in Oregon after arson stopped production.
Scott Johnson, president of GEN-X Energy Group, Inc., said his company has temporarily relocated to Pasco, Wash., after a fire in a portable toilet outside the Burbank facility July 4 damaged the plant.
The arson investigation is still ongoing, Johnson said.
Manufacturing at the plant has ceased entirely until insurance issues are addressed, Johnson said. He expected to remain with the Port of Walla Walla, which owns the property where the company began operating in June 2007.
The company had planned to tap into a growing market with the state of Oregon's mandate that requires B2-blend biodiesel, or fuel that is at least 2 percent biodiesel, in all gas stations, Johnson said. That would have led to the company approaching more oilseed producers.
"We intended to be one of the key suppliers for that mandate," he said. "That would have increased the demand for our locally grown feedstock."
The company made biodiesel from used cooking oils, soy, canola, camelina, beef tallow and fish oil. Johnson said it was bringing in camelina from a crusher in Sunnyside, Wash.
"We do our share in providing a demand for oil," he said. "We will continue to work with local growers to build the biofuels industry."
"Any time you lose part of a production line process, it leaves people scrambling to fill that void," said Bill Riley, a board member for the Big Bend Economic Development Council and longtime supporter of regional biodiesel efforts.
The tallow and oil used by GEN-X can be transported somewhere else, Riley said, but that adds transportation costs and reduces the supply of biodiesel locally.
It's important for the suppliers of the biofuel materials to have an outlet, said Moses Lake, Wash.-based engineer John Ousterhout, who has made biodiesel from used cooking oil for years.
Companies have come to rely on the sale of used cooking oil, once considered a waste product, he said. If people like Johnson are not available to take it, the oil becomes a liability for the suppliers, with disposal very expensive.
Johnson said there are plans to rebuild the facility.
"It's too soon to tell where and when," he said, noting the company plans to pursue grants, although its plans and designs are in place and already prepared to begin the permitting process.
The company recently secured additional storage for operations in Moses Lake, Wash.
The facility was rated to produce about 5 million gallons of biodiesel per year, and had reached the point where it was producing more than 1 million gallons per year, about 25,000 gallons per week, Johnson said.
Matthew Weaver is based in Spokane. E-mail: mweaver@capitalpress.com.
More online
Access the GEN-X website at www.genxenergies.com
From the January 2008 Issue same BIODIESEL MAGAZINE
Generating Momentum in the Pacific Northwest
By Doug Cumpston
Like many biodiesel industry pioneers, Scott Johnson began making biodiesel with some basic equipment and know-how. In 2005, Johnson and his wife Kathy commuted a combined 440 miles per day and faced diesel fuel bills that totaled more than $900 per month. Out of necessity, Johnson set up a small-scale biodiesel production facility and quickly dropped his fuel bills to only $350 per month.
Even though the money savings was beneficial to his family, Johnson still had to endure skepticism by others in his community. “I had people laughing at me,” he says. “The guy that was delivering the methanol … was laughing at me, calling me the crazy guy trying to make his own fuel.”
However, after friends and neighbors heard how much the Johnsons were saving on their monthly fuel bills, the skepticism quickly turned into intrigue. “In a short time, I had more and more people ask me if I could make it for them,” Johnson says. “… It came to the point where a few of us began discussing a full-fledged biodiesel production facility.”
Johnson and four other owners sat down during the second half of 2005 and began mapping out their plan for what is now one of the largest biodiesel plants in the state of Washington. Just two short years after his first batch of biodiesel, Johnson, now president of Burbank, Wash.-based GEN-X Energy Group Inc., operates a large-scale biodiesel production plant strategically positioned in the southeastern part of Washington state.
The GEN-X plant is permitted for 5 MMgy of biodiesel, but Johnson estimates the plant could produce 15 MMgy without any modifications. The plant could easily go to 40 MMgy with a couple more reactors and centrifuges, he says.
Equipment Needs
Since the Gen-X project wasn’t going to be just another small-scale biodiesel operation, the newly formed company turned to its local equipment distributor, Spokane, Wash.-based Northwest Pump & Equipment Co., for advice on the proper equipment needed for each application within the plant. Rick Fuqua, Northwest Pump’s resident biodiesel expert, consulted with Johnson and immediately began discussing the company’s pump options since pumps are one of the key components within a biodiesel production plant. Fuqua suggested to GEN-X the use of Blackmer ProVane motor speed sliding vane pumps for their methanol recovery, caustic (potassium phosphate), Magnesol and multiple oil feedstock-transfer applications. Johnson agreed and installed Blackmer pumps throughout the facility.
“Blackmer pumps are known for their reliability,” Johnson says. “You can use them in all different kinds of applications and we certainly do just that in this plant. Another nice thing about Blackmer pumps is that they will benefit us financially. Since they’re simple to work on—it’s easy to change the vanes and easy to maintain—we don’t have to worry about downtime.”
GEN-X also uses the Blackmer XL Series of sliding vane pumps for high-speed truck loading and transfer rate applications throughout the plant. Both series of pumps are designed for reliable continuous duty in biodiesel production operations. The sliding vane technology provides biodiesel producers with superior self-priming and suction capabilities. This suction capability can benefit biodiesel operators by stripping lines of residual product in order to improve production yields and avoid contamination issues.
The sliding vane technology principles ensure proper sealing and volumetric output performance, even after significant time in service. This eliminates the efficiency-robbing “slip” that shortens the life of lobe and gear pump technologies. The ProVane and XL Series provide smooth, sliding vane action without metal-to-metal contact, which reduces pump friction, eliminates galling and minimizes agitation of fluids.
Introduced in 2005 by Grand Rapids, Mich.-based Blackmer, the ProVane provides added benefits to GEN-X and other biodiesel producers due to its many “designed in” features such as the hydrodynamic journal bearing—a unique, fluid-boundary-forming principle—that eliminates shaft-to-bearing contact. The shaft hydroplanes above the bearing surface on a cushion of liquid. In this hydrodynamic condition there is no metal-to-metal contact or wear, and bearing life can be significantly extended. It also maintains optimum bearing characteristics even under a wide range of operating conditions, such as the ones found in the GEN-X biodiesel production plant. Reduced shaft/bearing contact minimizes friction and results in higher mechanical efficiency and smart energy cost savings.
Besides the typical hiccups that plague nearly every new plant, GEN-X has had a promising first few months of operation. In part, their success can be attributed to the proper selection of equipment throughout the plant and Johnson’s prior production experience.
Feedstock Partnerships
At press time, the GEN-X biodiesel plant was on track to produce a modest three million gallons of B100 in 2007, but Johnson says he plans on quickly hitting its long-term goal of 40 MMgy. With a Tyson Foods rendering facility 12 miles away, GEN-X has the groundwork in place to acquire enough tallow oil to become a significant producer of biodiesel in the northwestern United States.
“Our feedstock backbone is tallow oil from the Tyson Foods rendering plant just down the road,” Johnson says. “They could supply us with between 5 million and 8 million gallons of tallow per year. There are also a lot of other oil sources around that could be used for another million gallons per year, but Tyson is a key partner for us moving forward.”
In April 2007, ConocoPhillips and Tyson Foods announced a strategic alliance that would allow the major oil company to use beef, pork and poultry by-product fat (tallow oil) to create a transportation fuel, according to a Tyson press release. After that news hit the streets, Johnson and the rest of GEN-X wanted to know what that meant for their long-term plans with the local Tyson plant.
“When the ConocoPhillips/Tyson Foods partnership on tallow was announced, I called my contact at Tyson and asked him about the situation,” Johnson says. “He assured me that it won’t impact our agreement.”
In addition to Tyson, GEN-X is working with farmers and crushers in the area to bring local seed oil into the plant. Johnson says he also sees a large opportunity to partner with some of the restaurants in the area for second-use oil that would supply about 10,000 gallons of feedstock per month. It’s not a significant amount, but Johnson says he is more than happy to work with anyone with the same mindset.
“Another partner that we’ve signed an agreement with is Westway Feed Products Inc.,” Johnson says as he walks out the back door of the GEN-X facility and points to the adjacent Westway operation. “They provide feed to livestock industries in the area. Westway can use our glycerin, which is a byproduct of our biodiesel production process, as a feedsource. Therefore, we are closing that loop between the feed, tallow and biodiesel.”
Many other opportunities will likely be presented to Johnson in the coming months, but GEN-X is certainly positioned for a significant growth spurt in the future.
Future Plans
With a new 18,000-square-foot facility, 11 employees and a brand new company, Johnson and the other owners at GEN-X are already thinking about the next chapter in their story. “All of us are very excited about how far we can take this,” Johnson says. “Fernando Moreno, our vice president, Ray Benavides, our vice president of sales and marketing, Joe Stanton, our director of plant operations, Brian Moreno, a stockholder, and I are happy to come to work and finally be doing something that actually helps make a difference.”
Johnson mentions that GEN-X would like to open or partner with a crushing plant and crush locally grown seeds. They are working with several farmers in the area to reach that goal. Two crushers that work with GEN-X recently started operation and are already at 100 percent capacity because the price of canola peaked at the same time they opened.
“We are also creating an engineering firm that would be located here,” Johnson says. “We’re going to bring an engineer on board, John Forrest, who has a tremendous amount of experience in the oil industry. That way, he can focus on engineering projects and we can focus on creating biodiesel.”
GEN-X continues to refine its process along with growing its base of solid partnerships. When the company first discussed the idea of opening a biodiesel plant, Johnson and the other owners were nervous about the potential customer base in the northwest United States. Today, GEN-X is bursting at the seams and is a true testament to the “build it and they will come” mentality.
J
Responses - my opinion on how management is handling things .....
I think that we are getting monthly updates and figures presented which I think if someone was playing games with the books or trying to hide something they wouldnt do. BOOKS TRANSPARENCY.
I think that sales are consistently upward moving from what we are being told. SALES FORCE GAINING MARKET SHARE.
I think that losing GENX refinery capability in the fire but still being able to provide fuel to the growing needs of the XPGH product channel showed good contingency planning was in place by PARSONS.... FORWARD LOOKING MANAGEMENT - HOPE FOR THE BEST PREPARED FOR THE WORST.
Buying GENX makes sense " IF " we get their 1B in contracts they SUPPOSEDLY had secured according to spokesman Benvides (sp?) . Otherwise I am against the purchase....lets stay the course and get some cash under our belts instead. MIKE SEIZING AN OPPORTUNITY IN THE FACE OF APPARENT ADVERSITY.
Moving to OTC I would imagine a company with shenannigans going on wouldnt do that - your house needs to be in order, a business plan in place and your books open for scrutiny. RELATIVELY CONFIDENT WHAT YOU SEE IS WHAT YOU GET WITH MR. PARSONS
maybe I am nieve but it all looks good to me ...a growing business, books open, moving to a more legitimate stock exchange.
PS I AM NOT A CHEERLEADER , I AM NOT RICH OFF STOCK TRADING - I WORK FOR A LIVING .....I HAVE GOTTEN LUCKY ON A FEW STOCKS AND LOST AT EVEN MORE...I am only 13% up for 2009 on my picks -probably not too good this year considering the market recovery has been rallying...... but I keep learning ... J
This chart deserves revisiting ....As I understand it you get .50 cents back for each gallon of biodiesel you purchase..using your cost sheet and B20 at 2.69 - .50 from uncle sam that = 2.19 a gallon vs 2.54 for regular diesel. So B20 IS CHEAPER ( thanks to uncle sam ) than conventional straight diesel by 35 cents a gallon for a company to use. This must be why industry is buying it .
I like hearing both sides of any discussion or when it turns into a full fledged argument like this to help me make my personal investing decisions. ITS ALL GOOD PEOPLE. We obviously have some very passionate people investing in and out of this company. But lets not lose focus -we are all here to make money, offer our opinions and inevitably help each other out and talk about both sides of this coin. It may look like cheerleading or poo pooing sometimes but who cares. Read , comment, move on, buy or sell. This is directed at no one -Dont attack anyone for having a passionate opposite opinion - its not worth it. We are just here discussing issues and observations trying to help each other ....in the end everyones perspective and input counts...........PEACE TO ALL ......
Agreed ! All I can say is the monthly results are being published (transparency) , it takes spending money to build a Nationwide business and dealing with regulatory agencies takes spending alot of time / money too. Look at the big future -picture. I am not a cheerleader normally for ANY stock but I like what I see the last few months and TO ME it appears no one is trying to hide anything - if anything they are being totally -overly open and showing us all the books.
I know but the audited financials should prove no one is trying to hide anything...alot of times last minute flights are ridiculously expensive , if 2-3 of you are traveling at a time for a meeting that easily adds up to some pretty big bucks quick ...sometimes you have to travel unplanned to put out business fires or to get things moving asap etc ....I am not making excuses for them but there are alot of things supposedly going on ...didnt someone say there were meetings in New York to secure some financing, some meetings to aquire GENX, permitting processes going on in different states - test burns etc ? All I am saying is from personal business experience sometimes you have to spend money to make things happen quickly or put out fires in the beginning .....if they were spending that amount and no growth was evident at all then my flag goes up...we are still in the cradle stage here of this growing Nationwide business ...maybe Hog can share some historic info on travel or normal expenses incurred in the Bio business since he was involved in the past with xpgh.
Why I am staying in ...
From zero to exponential growth the last few months even though selling in less than 10 states so far .....test burns always go well - viable products. I would imagine more states opening up = increased sales.
Should get a small price spike once on the OTC board and solicited stock sales can begin as I understand it ....
Willingness to open the books for public scrutiny -auditing
If they do indeed purchase GENX we own the fuel contracts GENX secured before the refinery fire I would imagine....personally it would be nice to keep things going as they are and get some more cash under our belts and NOT purchase GENX but I think the real value in GENX they see is in those those fuel contracts.
As far as I know we do not own a producing refinery BUT I would imagine once we do own a producing refinery the cost of goods should go down - how much not a clue .....so in the meantime we contract out - reducing profits.
Parsons has made a tremendous turnaround - progress so far
Bio fuel as proven here is finally getting used out there in the real world / mainstream industry....you do not sell 950,000 gallons of snake oil in a month.
What I see happening is within a year if sales keep growing like this we are bought out quickly and owned by an entirely different company .....
Source for refining / blending ...one of the old press releases I found said they were using this company in Georgia....they have 2 refineries .....
http://www.alterrabioenergy.com/gordon.html
CORRECTION - "the" Soctt Johnson mentioned in the military fuel article IS NOT the same Scott Johnson of GEN X .......I emailed and he replied. So there is no connection.
Hog thank you very much for sharing ...good news for us all for sure..... J
Thanks for posing the questions for us.......I just didnt want people getting scared off this stock because they think we can only get product out of that ONE burned down refinery .....I figured there were contingency refining plans - multi sourced - which further boosts my gut feelings on this management team...they are on the ball and thinking of everything .......thanks Hog and what % of glyclean sales contribute to the numbers that are being reported recently ? I guess we should all thank you personally for these great financials recently.... J
Yes ask him how we will get fuel until the new GENX plant goes online.......are we contracting refinery time or selling reserves J
WOW IT JUST KEEPS GETTING BETTER - .......I uncovered this story on the net ...it looks like the largest bio fuel maritime study mentioned in one of the articles out there is / was possibly with THE NAVY !!! Scott Johnson of GENX is quoted in the story !
http://www.scientificamerican.com/article.cfm?id=navy-investigates-biofuels-to-power-ships-airplanes
“Particularly, the Navy is trying to be meticulous about the sources of its alternative fuels, mandating those that do not compete with food, like ethanol from corn does. Algae, although used in the nutraceutical industry, is not considered a food crop and camelina can be used as a rotation crop with wheat. "What we're doing is giving [the farmer] an economic alternative to having the ground sit fallow," says
Scott Johnson, president and general manager of Sustainable Oils, the camelina biofuel supplier.
Sustainable Oils, which also breeds the camelina seeds it then contracts with the farmer to grow, planted about 8,000 acres this year, the bulk in Montana, which should yield roughly 400,000 gallons of the unrefined oil, Johnson says. That camelina oil was then trucked to a pilot refinery run by UOP, LLC, in Bayport, Tex., which turned it into the jet biofuel or other petroleum-based product required. The first jet biofuel will be delivered on September 15 and a UOP-sponsored assessment shows that camelina jet biofuel reduces carbon emissions by 80 percent compared with conventional kerosene.
The U.S. government will pay $2.7 million for the 40,000 gallons of jet biofuel from camelina, or $67.50 per gallon, although that price includes some research and development, DESC cautions. "The Navy is asking for quantities that are not commercial quantities," Johnson explains. "So the process involved is a batch process and some of the costs that are involved are very expensive to set up."
The company also sells the meal left over after crushing the camelina oil seeds as a U.S. Food and Drug Administration–approved feed for broiler chickens. "We expect to grow close to 50,000 acres in Montana next year," Johnson says, as well as add more approved uses of the leftover meal.”
Thanks, John
Anybody got a status on where they are with the new plant coming online ? ETA to completion ? J
To see more of the Tri-City Herald, or to subscribe to the newspaper, go to http://www.tri-cityherald.com .
About 1/2 way down the page ....
Burbank biodiesel plant wants to get back to business
By Paula Horton Tri-City Herald, Kennewick, Wash.
Publication: Tri-City Herald (Kennewick, Washington)
Date: Monday, July 6 2009
You are viewing page 1
Jul. 6--BURBANK -- A suspicious fire that "heavily damaged" a Burbank biodiesel manufacturing plant won't prevent the facility from operating for long if company officials have their way.
The Gen-X Energy Group's 18,000-square-foot warehouse at the Port of Walla Walla's Burbank Industrial Facility
is not structurally stable after a fire believed to have started outside spread throughout the building, officials said.
The plant will now be idle, but company officials "are making plans to select a new site for production at the Port of Walla Walla in the next 48 hours," said Ramon Benavides, vice president of business development for Gen-X Energy Group.
Meanwhile, the Mid-Columbia Regional Arson Investigation Team and the Walla Walla County Sheriff's Office's Crime Investigation Unit are looking into what started the blaze early Saturday, Benavides said.
When Walla Walla Fire District 5 crews arrived at the fire at 3:15 a.m., flames were seen coming out of the roof and sides of the building and vegetable oil was linking inside. Benavides said he was told the fire started in a portable toilet on the northwest corner of the facility.
The plant was not operating at the time and the fire was not related to any operational aspect of the facility, said Benavides.
Walla Walla Fire District 5 Chief Bryan Bauer "stated the initial fire is suspicious and may be related to fireworks due to recent witnessed activity in the area," Benavides said.
The biodiesel plant, which opened in May 2007, was running at about half capacity, producing about 7,200 gallons a day, he said. The company had just received a three-year contract to produce over 1 billion gallons of biodiesel, he said.
"We were going to make that announcement this week," Benavides said.
Company officials were able to isolate tanks and keep them from getting damaged in the blaze. Floor drains were able to catch and contain the oil that did spill.
"The system performed just as it was supposed to," he said.
The state Department of Ecology sent a Spill Response Team to the site after learning about the fire and determined about 30,000 gallons of vegetable oil had spilled, said spokesman Dan Partridge.
None of the oil, however, made it to the Snake River and no fines will be levied against the company, Partridge said.
Benavides said the 30,000-gallon figure is misleading because it's actually a combination of the oil and water from the fire suppression. He also said it was fish oil and glycerin that combined with the water.
"We want to reiterate the community is not at environmental risk from this event," Benavides said. "This fire is not in any way associated with production practices of this facility. In fact, we just completed the field audit of the BQ9000 production compliance program and achieved what is considered a gold standard for biodiesel production practices in the U.S., and 12 hours later a potential malicious person burns down our plant."
To see more of the Tri-City Herald, or to subscribe to the newspaper, go to http://www.tri-cityherald.com . Copyright (c) 2009, Tri-City Herald, Kennewick, Wash. Distributed by McClatchy-Tribune Information Services. For reprints, email tmsreprints@permissionsgroup.com , call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.
I just thought of something....if you buy xcel then you now own " Benavides said the company had just received a three-year contract to produce over 1 billion gallons of biodiesel......" ..
Maybe that is where the true value lies for XPGH - in XCEL -signed fuel sales contracts NOT really the refinery or burned out refinery per se ...I guess you could contract with just about any bio refinery out there to use your specific processes or specific chemicals and produce until YOUR plant gets back up running...I also think I read they only had 800k in that plant as it was constructed with recycled components I think I read ...can anyone shed light on this ? Anyone agree ? Maybe those xcel signed contracts are the result of this .........
"GEN-X recently participated in the largest maritime biodiesel study in the
United States. Ramon Benavides, vice president of business development for the
company, has addressed the U.S. Departments of Energy and Agricultural about the
country's biodiesel infrastructure. He stated, "Biodiesel has been identified as
a viable alternative for maritime fuel, and the worldwide shipping market holds
tremendous potential for us."
Makes sense.....I thought they were just the refinery - but I now understand all the other functions they provide - worth .......since the Genx plant burned - where are we getting our bio fuel from in the interim ? Thanks.
Agreed Parsons has done a great job so far...
I guess I am old school and conservative.....if we are just now making money and in the black why not just keep growing the business volume, stay the current course, tuck that money under the mattress to grow xpgh cash reserves then look at acquiring things down the road...why the rush into acquiring a plant or burned remnants of a plant ?
Ok now I really dont understand the value in Genx...read the comments by Genx's Scott Johnson
http://www.exopolitics.org.uk/index2.php?option=com_content&do_pdf=1&id=379
Dug up some stories regarding the fire at the plant etc. see links below ... I am confused too...if a plant burns down, is now moving locations, and now a railroad company is going to help rebuild it what exactly are we buying in Genx ? Is there a genx plant in existence currently running and producing fuel for xpgh ? What kind of capital outlay and time frame are we looking at to get it up and running again in the new location (ALL NEW PERMITTING RED TAPE ETC ) ? Like I said I am lost and dont see the apparent value in Gen x .
http://www.tri-cityherald.com/business/story/728495.html
http://www.kndu.com/global/story.asp?s=10652539&ClientType=Printable
http://www.spokesman.com/stories/2009/jul/07/fire-at-biodiesel-plant-under-investigation/
http://www.tri-cityherald.com/kennewick_pasco_richland/story/637322.html
http://www.biodieselinvesting.com/biodiesel-archives/2009/09/29/railroad-company-gen-x-energy-to-build-biofuel-plant/
http://www.energydigital.com/GEN-X-Energies_5567.aspx
http://www.nebc.org/documents/mreph%2008/5-Benavides.pdf
http://www.exopolitics.org.uk/index2.php?option=com_content&do_pdf=1&id=379
Thats good they closed the loophole...I think they should make Int. paper give it back personally......just because you found a tax loophole especially on this scale doesnt mean you should take advantage of it.....its corporate stealing in my opinion....
If you guys want to know how lucrative the bio blending can be to a company chase the story around of International paper using blended black liquor (paper processing bio mass which it uses for bio fuel) they cleverly blended it with diesel -qualified for the bio tax credit and in ONE MONTH got a check for 71 million dollars from uncle sam for 15 plants useage of the stuff ..thats 1 month !....Washington is up in arms because it goes against the spirit of the law so expect them to tighten these loopholes and respond fairly quick with a policy change ....xpgh is definitely on the right side of this issue however and should do well no matter what ....J
Laura your talking way over my head ...can you explain what your post means to a newbie - novice -thanks ......
Skylight financial and US bank issues the actual cards ..they ALREADY have a similar product up and running...sounds like Sovereign is just simply rebranding and not really inventing anything new here but targeting it into a few specific markets that arent penetrated very well.........
http://www.skylight.net/retaildnn/Home/tabid/36/Default.aspx
Pinky I THINK any VISA atm terminal can be used via the Sovereign card right ? So getting the atm hardware out there isnt an issue if I am not mistaken ....somebody correct me if I am wrong .....
The little yellow lock that appears on your screen in the lower right corner of windows indicating encryption is being used on web pages etc fillling out personal info....
I went on the sovereign site and went through the motions of filing for a card ....to my dismay they ask you for your ssn and tell you the site is protected and encrypted....you see no lock symbol on the page I can see and I see no further encryption cues on the page....I aborted filling out the application for a card ....anybody here - cheerleaders included ACTUALLY own one of these cards...someone needs to alert Sovereign their encryption doesnt appear to be working ....go try it yourselves and tell me if you see the encryption lock symbol come on during that process or was it just my computer ..... who has one of these cards and has used it ?
Tracker every pr out there mentioned the green energy conversion so they keep mentioning it in articles even today (misleading) - when he is in fact gone from the company ...Monfort has filed for a provisional patent on teh shaft and I think you have to submit a working prototype for USPTO in order to evaluate it. He said he had one but needed another 50k to get the project wrapped up and installed in another car he has and was looking for an investor....that being said he has left and taken his driveshaft (marbles) with him ....So who cares right ! What we are invested in is what is left and what this company will be in the future. I just want to know what we have now and want to see a business plan, some progress reports and know who the principles are running the show NOW. One of the most valuable things I have read is the PVD chroming process and who owns the rights to that is it GTLA or Flores and Monfort who left ? PVD chroming should be huge once embraced by industry - no Hexchr pollutants , 10 times stronger than traditional chrome - thats a big deal. The chrome business is huge beyond just shiny parts - it is used in industry, medical and many marine applications ...his coldfire process is used on "Rigid" brand drill bits you buy at Home depot for instance...look for the logo on the package. There is some value there.
READ THIS - paper on the international remittance market to better understand what we bought .....
http://content.knowledgeplex.org/kp2/cache/documents/65853.doc
lets try to get some more fact finding going and less cheerleading !
Monfort walked away from the company with the driveshaft and its provisional patent ...so apparently that biz segment is gone....to understand international remittances I found an extensive paper on the net looking at all the industry players and angles of the business.....
http://content.knowledgeplex.org/kp2/cache/documents/65853.doc
lets just deal in new found facts and quit regurgitating press releases for the sake of getting the post counts up :( ...... ps I decided not to sell out......I am still in
Guys not to poo poo your theories but the bulk of those transactions numbers -outbound remittances are going to be business to business transactions via traditional bank to bank transfers ...for instance I dont think a corporation or government entity is going to pay suppliers or service providers with a Sovereign card. This is going for a "sliver" of the market and "irregular" people who do not have a traditional bank account or use a banks normally provided bank card services. How many working people do you personally know without a bank account ? Just the other side of the coin for discussion.
Im all out tomorrow ...good luck to you all -hope it picks up .......
Laura I am with you but I was just curious what words did Flores have about gtla and has he in fact officially departed ? I cant find anything out there on his current involvement and want to know.......this stock is doomed unless something "credible" breaks soon and a clear path is defined..........
Found this on the net re: Monfort driveshaft ....
http://speedzzter.blogspot.com/2008/10/is-monoceros-hybrid-mustang-car-ford.html
"Monfort has many crooked vultures lurking over him trying to make a quick criminal buck off of his technology and contacts so beware and contact Monfort directly. Please do your due diligence before doing business with anyone!! Ask for documents, pictures and phone numbers and call everyone on the list. Listen to both sides and make an educated decision.
Monfort is not affiliated with GT Legend Automotive and has resigned from anything to do with that company. Beware to investors and or buyers. Please contact Monfort directly. The Electric Drive shaft supercharger is solely owned by Edward Monfort. Monfort does not want to be affiliated with GT legend Automotive or thier tactics or business ethics.
Electric Mustang, Ronaele Mustang, Ronaele, Eleanor, Shelby, GT 500, Ford, Hybrid Mustang, Electric Mustang, saleen, Roush, Jack Roush,HST auto, HST automotive, Joe Flores, Joe Florez, Mike Bacon, Michael Bacon, GT Legend Automotive, GT Legend."
AGREED ...I dont get it....with a multitude of projects going on in different business lines what gives ? Why no releases ? This company does not take pr seriously at all. Its an important part of doing business and helps build shareholders value. How are we progressing GTLA ? What are the recent milestones reached you can communicate ? Enough of the cheerleading - lets get some facts from the horses mouth ......
I dont get this stock or its management .....I did some digging and Monfort apparently has walked away with his driveshaft so the green part of the business is possibly gone as he was the sole patent holder...so now they are getting into international card transactions...ok great it always pays to diversify but all I hear is fluff on all the boards about what this stock may do ...What exactly do they do and what is their business plan moving forward and who now is left within the companys management and ownership structure .....I am a vested shareholder as you all are.... I just would like to know what the hexx I bought here and who I am dealing with. This companies pr is non existant . No wonder people are selling. What exactly is GTLA as of Oct 2009 ?