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Hey guys, don't encourage him... Too many articles, too little time. :)
Possibly, but I believe there's more to it.
The DOE is having advanced discussions, personally visiting the pilot plant, and requesting two additional tests.
It's hard to believe that they take that kind of interest in every grant applicant... It must be for one hefty grant. :)
What is the nature of these "advanced discussions" with the DOE?
Below is an exerpt from a recent article... Read the bolded part carefully.
We've all assumed that DOE interest might lead to a government grant or loan... and it might; But, CCTI might not get the money.
It sounds to me like Eves wants the DOE to pick up part of capital costs for Pristine-M plants for US coal producers.
That actually makes sense... Pristine-M is patented, tested, and ready for commercialization, but the initial $30M-$50M investment for the processing plant poses a high bar for entry. If the government could help offset that with grants, loans, or tax credits it would be very helpful.
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Robin Eves, the company’s president and CEO, agreed that it is easy to dry coal. “Anyone can dry coal. You can put it in your oven to dry it,” he said. However, the process they have created also seals the coal so it creates less dust and absorbs less water during storage and transportation — a problem that nobody other than CCTI has solved, he said. With its process, the coal can be transported and even left around for months at a time without absorbing water or creating dust.
Eves told S&P Global Market Intelligence that the time is right for the Trump administration to take advantage of this technology.
“Right now it is the ideal technology for what the United States government has mandated to the DOE and to the EPA to do,” he said. He added that the company would prefer to work with U.S. companies in the initial licensing of its technology and scaling up of its Oklahoma pilot plant and is currently working with the U.S. Department of Energy over the possibility of the agency including stimulus money for coal producers for using the technology in future infrastructure investments. CCTI has also hosted interested parties from Asia and has signed a licensing request for the technology to Jindal Steel & Power Ltd. in India, he said.
For the next 60 days the company is conducting a couple more tests at the request of interested parties, he said, and then executives will decide whether to move the pilot plant to a new location in the PRB and whether to sell more licenses to interested parties. “Regarding the U.S. market itself, we will continue to work hand in hand with Washington,” he said.
Travis Deti, the executive director of the Wyoming Mining Association, said the group is always interested in technologies that add value to the state’s coal. “From what I’ve read, the technology developed by Clean Coal Technologies is very intriguing. It could certainly present some great opportunities and new markets for Wyoming PRB coal,” he told S&P Global Market Intelligence.
https://www.wyomingmining.org/company-that-cleans-coal-before-combustion-says-it-can-add-value-to-prb-product/
You're right... We don't know. Email Rick Perry and ask him. http://www.energy.gov/contact-us
This is from their last 10-K,
"Since January 2017 we have engaged in advanced discussions with the representatives from the US DOE and also key representatives from Wyoming. "
"Advanced discussions" with the DOE? It's one thing to be hyperbolic about potential licensees and the like, but to do so with a government agency in an SEC filing? If the SEC is dubious and suspects Eves/Neary are misleading investors, they can suspend trading or worse. Thus, we can assume it's true.
To be continued...
True, but the DOE didn't show any interest at all until the independently verified successful testing of the pilot plant in Q1 2016.
Since then, we are one of two US based pre-combustion coal upgrade technologies left standing, so the fact that they're showing interest is a big deal.
The DOE is certainly interested...
Excerpt from a March 26, 2017 article,
Aiden Neary, COO of Clean Coal, said the company sought Department of Energy support for years during the Obama years without gaining traction.
“From an interest perspective, it’s a 180-degree change,” he said. “There is a lot of focus on Capitol Hill and the Department of Energy for this technology.”
The gains made in the last few weeks for coal technology have been greater than those made in the previous six years, Neary said.
Coal entrepreneurs also see an opportunity in the pro-coal political environment to be the bridge between campaign promises and action.
“What we are offering is a solution to the problem. [President Donald] Trump talks a big story, a big story on everything, but so far they haven’t said ‘This is the solution,’” said Robin Eves, CEO of Clean Coal. “We firmly believe in the coming days this might be front and center in the current administration, being put forward as a solution, not the entire solution, but a solution to make U.S. coal more competitive.”
http://trib.com/business/energy/new-tech-would-make-prb-coal-more-valuable-but-cheap/article_6b9e8ff9-686b-57c9-874b-a2f0d18365c1.html
You're right... Pristine-SA is Biomass-Coal Technology.
The website has a brief description:
"Pristine-SA, is a development stage technology designed to eliminate 100% of the volatile material in feed coal. To achieve stable combustion, Pristine-SA would be co-fired with treated biomass or natural gas. The process would result in a clean fuel, eliminating the need for emissions scrubbers and the corollary production of toxic FGD sludge. Pristine-SA is a versatile product that can be used to produce numerous non-fuel products. "
I dug up some more info:
Pristine-SA is "Synthetic Anthracite" and "consists essentially of carbon and hydrogen, and burns as clean as natural gas."
"The concept of combining the treated coal of the invention (i.e., coal with near-zero volatiles) with a supplementary fuel such as natural gas in a coal-fired boiler is new. The present invention is ideally suited for use in combined cycle boilers, or multi-fuel boilers that are capable of burning more than one fuel separately or at the same time. While a large population of combined cycle or multi-fuel boilers is in existence, in common use, these boilers are designed to merely switch between one fuel and the other."
Besides co-firing with gas, this patent pending technology also covers the compacting of Pristine-SA fines with torrefied biomass to create briquettes that can be fed into existing coal burners. One would assume those Pristine-SA biomass-coal briquettes would be considered a "renewable" and qualify for additional tax credits, not to mention an excuse to keep those obsolete coal-fired power plants operational.
It has been Patent-Pending for 3 years, so we shouldn't have to wait too much longer under the new coal-friendly administration...
Then we can all say, Cha-Ching!
If Eves has Trump cut the ribbon for the first Clean Coal Pristine-M commercial plant in WY...
Then, we can talk about $10 or more. :)
$10 is a bit optimistic... Cartman is probably right about the full dilution... so let's shoot for $2 by the end of 2018 and $3-$4 by the end of Trumps first term. :)
I hope you guys are stocking up before the big news!
I've done a fair bit of research over the past few days, and I've been piecing together this puzzle... Some fact, some speculation, but it all fits. I'm honestly afraid to say too much... If I happen to be right, I don't want to jeopardize any pending deals. Let's just say, I don't care how low it drops, I'm not selling!
Good work… Very interesting... But, it seems to generate more questions and answers.
Ventrillion acquired 100M shares 12/2012 for $4M, which helped fund the pilot plant. It sounds like this did happen; the funds were received and shares issued. So, why isn't this reflected in the 10-K? I guess it's possible that they own 100M of the 113M outstanding shares, but that seems unlikely.
The purchase of 200M additional shares for $11M was due in two installments over 12 months, after certain milestones had been reached, such as the completion of the pilot plant and the commercialization of the technology.
We know the pilot plant wasn't finished for 3 years... So did Ventrillion ever pay the second installment?
It appears the third installment was due at commercialization, which couldn't begin until recently because CCTI didn't own the patent.
Could this have anything to do with the newly acquired funding? Or did the deal fall apart due to delays?
If so, has Ventrillion been slowly dumping shares, possibly over years, and depressing the PPS? If they averaged 100K per day, it would take 4 years to unload 100M shares. I have more questions, but too tired to think.
WC, I can only received PMs; Only paying members can reply to them.
I'm already maxed out, buckled in, and ready for liftoff. :)
Yeah, that would be nice! :)
Seriously though, honest to God, I believe this stock will see $0.50 this year, possibly this summer... and $2 when the first royalties roll in late 2018.
Some will say that I'm too optimistic. Maybe so, but those are my conservative estimates.
It's sad to see someone dump a half million dollars of stock for chump change.
Yes, they've been spinning their wheels for years...
But there's reason to be optimistic because two important things have changed.
1) Obama vowed to kill the coal industry... Trump vows to bring back "beautiful clean coal."
2) They have the Pristine-M patent! REPEAT... After 6 long years, they have the patent!!
Now things will really start moving. No one, not even Jindal, would commit to invest $50M in a Pristine-M processing plant unless CCTI actually owned the patent. When Jindal commits, I expect others will as well.
BTW, who is Jonas?
Links to Press Releases and Twitter Feed...
http://ir.cleancoaltechnologiesinc.com/press-releases
https://twitter.com/CCTCInc
WhiteCoal already quoted the press release I was referring to.
Yes, it is funding TO the construction of the first commercial module.
I thought that was obvious, since those modules cost $50M... If they had received that kind of money, it really would be BIG NEWS. :)
News? I really hope so. I'm beginning to think Eves doesn't worry too much about the PPS, especially now that it appears they are funded through the first commercial module. He might not say anything until the June convention, and even then, it might not be the big news we're hoping for. He might figure that until they've built a full-sized operational Pristine-M plant, that he's just wasting his breath.
Just because it was paid for doesn't make it invalid or untrue.
If CCTI bought a full page ad in Discover magazine touting the benefits of dust-free Pristine-M coal, we'd be discussing that too.
How is this advertorial any different? If you don't trust it, then how can you trust anything the company says?
If you don't believe the rosy figures, cut them in half, a third, a fourth... but you shouldn't discount them completely.
OK, you simply quoted the linked piece. Nothing more, nothing less...
Except when you added, "Nearly $1 million awarded to the Soffins, and the company could be on the hook for all of it," The article didn't say that.
BTW, who said anything about an Exxon buyout? I certainly didn't.
CM, I know you enjoy this jousting, but this is getting old.
We can agree CCTI owes $121.5K and were not guilty of fraud.
The lawsuit's over... Let's move on.
Soffin v. Clean Coal
Circuit Court of the 15th Judicial Circuit, Palm Beach County, Florida
4/28/17 Document# 502010CA028706XXXXMB_327 -- Count I Negligent Misrepresentation -- CCTI LIABLE for 30% of $405,153.36
4/28/17 Document# 502010CA028706XXXXMB_325 -- Count II FRAUD -- CCTI NOT LIABLE, no damages.
4/28/17 Document# 502010CA028706XXXXMB_326 -- Count III Statute Violation 687.4011 -- CCTI NOT LIABLE, no damages.
Agreed; they just want to pay their share, put it behind them, and move on.
It might be a good case for appeal, but they'd just end up giving that $121K to their lawyers.
As for transparency... I'd be happy with a weekly tweet from Eves to let us know the company isn't on autopilot.
The lawsuit was always in the SEC filings...
Look them for Case No. 50 2010CA 028706XXXX MB
You know CCTI is responsible for only $121.5K.
So, why inflate the figure to "nearly $1 million" and to suggest they may be "on the hook for all of it?"
Maybe you should refresh your memory...
https://applications.mypalmbeachclerk.com/eCaseView/
Login as Guest and search for case number: 2010CA028706
Read the verdicts, documents #325-327
So, you thought the 10Q was awesome too?
It honestly wasn't as bad as I expected. No further dilution beyond the 111M already reported, and zero loss per share.
At this rate, CCTI can tread water for quite some time.
Could be TOP firm in New York, Kentucky... population 10.
MotorCity, you're right... all signs point to winner!
I am confident there will be a big announcement at that June miners' convention, or in the days leading up to it.
Even if we're wrong, it's still Clean Coal's coming out party... Robin Eves gets to pitch Pristine-M and drop the mic before a room full of important coal industry tycoons. Just that exposure alone should be a big boost to this stock. Does anyone honesty believe we'll still be under a dime on June 16th? Time to stock up.
Stockton79, this is old news; been discussed before.
Unless the defendants appeal the verdict, the case is closed.
CCTI was found NOT LIABLE for fraud and also CLEARED of the breach of statutory duties claim.
However, they were found partially responsible for negligent misrepresentation and are on the hook for 30% of the $405K award, which is $121.5K.
http://blog.cvn.com/florida-investors-win-405k-on-stock-misrepresentation-suit
Gee-whiz, who knew "a top NY asset management firm" was run by one guy out of his basement in Denver...
Didn't he also keep Hillary's email server in his bathroom? :)
There's a good chance that it is BlackRock...
But the more important question is... Why is it a secret?
They should've released the 10Q without the PR...
After the stock settled a few days at its new low, then release the "good news."
IMHO, CCTC would've rebounded well over a dime, and the new buyers would see some healthy gains and be more likely to hold onto it for a while.
But they said it in the press release...
"This investment will be made through Black Diamond with all funds earmarked for test procedures at the plant near Tulsa, OK, AND the plant's move to a permanent location in Wyoming. The first tranche is being paid immediately."
It sounds like it will be paid in installments when they hit certain milestones; Probably a good idea.
You missed this line from the PR,
"Securing this investment will confidently carry us through to the construction of our first commercial module"
Well, the headline of the press release flat out says it...
"Top New York-Based Asset Management Firm to Finance Clean Coal Technologies, Inc's (CCTC) Pristine Coal Enhancement Process Through Commercialization"
http://ir.cleancoaltechnologiesinc.com/press-releases/detail/128/top-new-york-based-asset-management-firm-to-finance-clean
You're right... The next 10Q might show heavy dilution; 300M is possible.
Who knows? They might've given up half the company for enough cash to carry them through commercialization.
But, considering the alternative, half of $100M corporation is better than half of a bankrupt pink sheeter.
You know as well as I do, every single company uses language like that to cover their asses. You can't read anything else into it.
Cartman, you never answered my questions...
Are you surprised there was no further dilution beyond the 111M we already knew about?
What about the zero net loss per share?
Rest easy; CCTI is still alive and kicking... at least through commercialization, regardless of the PPS.
Many questions remain about the process and economics of it, ultimate stock dilution level, DOE interest/grant, how many licenses will be sold given the large capital costs required, foreign patent protection, and so on... But one thing appears certain... the first commercial module WILL GET BUILT.
Ask yourself this question... When it finally comes online, what will the PPS be then?
Yeah, they can be a bit difficult to wade through.
The 10Q isn't great, but I see it as an improvement over the 10K.
Cartman, I want your honest answer; No BS...
Didn't you expect significant dilution beyond the 111M we've known about for weeks?
130M-180M wouldn't have surprised me.
Are you surprised by the ZERO net loss per share? I was.
Do you deny that is one nugget of good news in the 10Q?
Yes, but only by 4-6 months.
The delay no doubt due to further DOE testing along with the change in construction contractor from Leidos to Kiewit.
Better than expected 10-Q; ZERO loss per share!!
I guessing some of you calling it "a disaster" either didn't bother reading it, or didn't read the last 10-K to put it in context.
Nothing was really new or unexpected...
No income... We didn't expect any until later this year from Jindal.
No grant... It certainly wouldn't have been announced in a 10Q.
The Soffin lawsuit is now closed after $121K settlement payment; We knew that.
111M shares outstanding, up from 101M... No surprise; We've been talking about that for weeks.
There was one bit of good news, ZERO net loss per share for Q1.
That's a marked improvement from the 0.09 loss per share reported in the 10K.
I was pleasantly surprised, given the doom and gloom expressed here after its release.
As far as the BIG NEWS today, they was only a brief mention... They are "currently working on commercial agreements which if we are successful we believe we will have sufficient funding to meet our operating costs in 2018."
Of course, they were successful!! :))
They have raised the funds to carry them through the construction of the first commercial module!!
It was a GOOD DAY... The drop to 0.095 is temporary. Many were unaware of the new commercialization funding... As of this evening, Google Finance still hasn't reported it. https://www.google.com/finance?cid=962019
No agenda there. ha.