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The problem is that it's not "news", its just a BS fluff PR, no substance at all to it. Not only that, but they released it at the complete wrong time of the day, on a day where it was one massive sell off. The "news" is meaningless, the timing was horrible, they did everything wrong with this.... Glad I got out in the .17s...
Why would it, it's complete fluff..... Nothing of any importance in there.... I am sure down the road they got some great stuff, but this isn't one of them...
Ok please just stop trying to put pennystockpayd.com and other sites like them with APS. You are simply grasping at straws now and pretty much just out right lying to people. They have NOTHING to do with APS. 10000% Nothing to do with them. They don't "work" with APS, they are known as a "piggy back" group, when APS or another one of the big groups alerts a play, they jump on and alert it after them and try to act like they are the ones running the play. They don't run anything, they don't get paid by anyone to alert the play, all they do is still to ride APS's coat tails for their own personal gains.
The fact that these guys "announced" it means nothing, whether APS ever actually does alert this or not is a completely different story, but it sure as heck doesn't some how become more likely just because these guys alerted it, in fact, it actually becomes less likely now.
I really do not believe APS will alert this stock, as I said yesterday I think they got paid to do a quick 1 day play, and they put out that retractment email to make it look like a "mistake" so it wouldn't scare people off their next play and so they would get blamed for anything.
But this is still a gamble and it still could be their play, I don't believe it is, but it could be so its always worth a shot.
Tomorrow is going to be a good day, saw this same exact set up with ATRN when it broke the .20s, and the .30s, then it went all the way back to .14s before going right back up to the .30s 2 days later. These stocks tend to have their biggest runs after a good pull back day. And I do believe that is what will be coming tomorrow!
Please stop trying to "scare" people, and please get some of you "facts" straight, as nothing you have said is actually correct...
If this stock jumps up big in the pps, the SEC isn't going to do anything about it.... Why? Because that's NOT ILLEGAL. There is not a single law that states a stock can't "go up big"... Further more, there are 1000s of scam stocks on the otcs that the SEC does NOTHING about. And that is not going to change any time soon. AWSR is a completely real company, If you want to meet me in Utah I will be glad to drive you right up to their front door.
Paying a company to "promote" your stock and to "increase the pps" is not illegal either, nor is dumping shares into the volume that the promo makes..
So I really suggest you start studying a bit more, and stop tossing around the "sec" name falsely. There is not one single thing that this company is doing that is the least bit illegal, nor anything that would warrant the SEC to do ANYTHING.
Now I personally don't believe this will be APS's play. I think that they did a quick 1 day play for some nice coin, and made it look like it was a "mistake" so people wouldn't get scared and think their next play will only be for one day, or that they might start doing really short term plays. I think the whole "2nd week of march" is for them to get ready for a completely new play. But it's still a 50/50.
But that being said, the SEC isn't going to have anything to do with this stock, and all the OTC markets can do is slap a little CE sticker on it, which means NOTHING if this company gets big news or a big promo.
NSRS was kicked out of the DTCC when it will still in the .50s, THE 50'S...... That means 90 percent of the brokers wouldnt even let you trade it, and it still ran from the .50s to 1.70s.... That is 1000 times more damaging than a stupid "CE" rating that has not physical impact on the stock. Anyone who uses the CE as a tout to why this wont go up has no idea what they are talking about, those have never stopped any stock from running 100s and 1000s of percents when some big news drops or a good paid promo is run on it...
Why would they..... NHSH owns them.... they are a subsidiary of NHSH, NHSH is going to be changing its name to reflect it's new business model, etc..... I mean really.... MS is the company, NHSH are just the owners of them, they don't actually do anything as far as operations go...
It's kind of hard to point you to links about future events that have not occurred yet... Sorry can't find my keys to my Delorean right now....
Hard to say, due to how they "alerted" this, could go any way. We have no clue if they will even run it or not. Just because they alerted it, doesn't mean they will run it this month, this might be their play for april or may for all we know. Assuming it's their play, they might take it way back down to the .20s or .30s then alert it. Or it might get close to a dollar before they alert it, and then run like hell....
It's a huge risk right now just due to those facts, if they reannounce it, then it's a no brainier, until then its risky.
The company "didn't" hire them, this is common with promos. They pay a 3rd party, and sign a contract with a 3rd party and then the 3rd party goes out and hires APS. This is what most companies do as it keeps it from directly leading back to the company it self. AKA they will hire a "3rd party" to do "marketing" aka a stock p and d, and then the 3rd party will hire APS. Weclome to stock promos 101....
2nd, a company can technically tell anyone anything if they want to. There is nothing illegal about that what so ever.... If the company tells you this is insider info, and makes it clear that what they are telling you is not public, and you act upon it, THEN it becomes illegal and "insider trading".
People, mostly on I hub.... make this mistake all the time. It's only illegal and insider trading if you ACT upon the privet info given to you. Companies have to tell people all the time certain things that may not be known to the public for one reason or another.... The act of sharing private insider infomation with someone isn't a crime nor is it illegal, it's only if the party receiving this info uses it before it's made public to gain an advantage on others, then it becomes illegal and a big crime....
Go do a little DD buddy.... They got 6 FDA approved products in the market, they are debt free, cash flow positive, and a very very healthy company....
This company is worth at least aroudn 1.50 to 1.75 right now, regardless if this does or doesn't get approved, so needless to say it's very undervalued and should, at some point, get back to trading around those levels or higher. I would recomend getting in if this gets approved right away, as you should be able to ride it up for good gains regardless if you get in a bit behind the rest here.
The chances of them releasing the news on a sunday, good or bad was slim at best. I would expect it tomorrow or tuesday....
You are completely incorrect on EVERYTHING your talking about, heres how they alerted NSRS back on the 27th of dec... It's the EXACT same way they alerted AWSR...........
this came out on Dec 27th....
TITLE:
We are announcing our brand new pick on January 2nd!
100 percent true, it's going to get squeezed all the way to $5 to $10 easy! LEXG anyone?
NSRS was also kicked out of the DTCC when it was in the .50s which ment only about 2 or 3 brokers would even allow you to trade it lol. As you can see, that totally had a huge impact on it hitting the 1.70s.... APS controls these stocks from start to finish, CEs, getting kicked out of the DTCC, etc, has NO impact on their plays....
Again please learn how to do proper dd before trying to scare people on here with false info...
exactly.....
they all go up big, either hold and sell in a few weeks, or flip it, either way you will do well...
No one "mistakenly" writes and then sends out a mass email to 100000s of of people.... Give me a break and get with the program.. This is how they alert ALL of their picks, NSRS was the EXACT same way...
Its a real company, and they have done promos on real companies before, so it's really not all that different...
Its exactly like all of their other picks.... Instead of it going from .07 to 1.72, its going to go from .27 to probably 4 or 5 easy... Same thing, just different numbers...
There is no such this as "too fast" for a stock, it moved fast because its thin, which means these guys can easily control the float and make it do what ever....
This is EXACTLY how they release ALL of their picks. NSRS was the EXACT same way. They post the ticker for NSRS in the email, and talk about it, but then they said their next pick will be announced "after the new year" and this was the first email sent for NSRS on dec 27th....
The only people this fooled were amateurs on i hub that have no clue how these people run plays....
Never said they wouldn't come back..... you want a cookie? This the first time you ever read a chart right?
Looks like its about to start trading again, got level 2 on it now... Good luck everyone!
Let me help you out because its clear you cant read, that story is for ESLR, aka Evergreen solar, a COMPLETELY different company....
Shouldn't be long, they usually just halt it to let the news get out to everyone then release it. Doesn't matter if they found a buyer or not, in cases like this the share holders usually get whipped out, hard to say for sure until we see what happens, but shareholders usually don't get anything from this, sounds like the company is just going to liquidate everything.
Think your about 20 min late on that one there...
Yea but the bigger problem is they are basically saying their bio diesel can't compete due to the tax system in the country where they make it, and that people can find cheaper bio diesel, so that is what worries me more than them losing 14 million from that contract...
http://missionnewenergy.com/files/1077089.pdf
And yes, its pretty bad news... Like legit bad news, not like the bs crazytrain was trying to push...
Energy Conversion Devices Files Chapter 11; Seeks Sale of Businesses GlobeNewswire "Press Releases"
Operations Will Continue During Sale Process Ovonic Battery Company Sold to BASF Corporation
AUBURN HILLS, Mich. , Feb. 14, 2012 (GLOBE NEWSWIRE) -- Energy Conversion Devices, Inc. ("ECD" or the "Company") (Nasdaq:ENER), a pioneer in materials science and renewable energy technologies, today voluntarily filed a petition for relief under Chapter 11 in the U.S. Bankruptcy Court for the Eastern District of Michigan ("Court"). As part of its bankruptcy plan, ECD intends to sell through separate sales its wholly owned operating subsidiary United Solar Ovonic LLC ("USO") and other assets, including its minority stake in Ovonyx, Inc. The Company has received support for its operating and divestiture plan pursuant to a formal Plan Support Agreement executed by the Company with holders of approximately 70% of the Company's $263.2 million in outstanding 3% Convertible Senior Notes due 2013.
Sale of United Solar
USO , which will continue to operate during the sale process, has also voluntarily filed a petition for relief under Chapter 11 in the U.S. Bankruptcy Court for the Eastern District of Michigan . USO is the global leader in manufacturing flexible, lightweight thin-film photovoltaic ("PV") products for use in the commercial rooftop and building-integrated markets. USO's Open Solar initiative has begun to show traction with new partnerships resulting in an integrated roofing product with Marcegaglia in Italy , and consumer products including the award-winning SolarKindle cover for the Kindle e-reader.
"We firmly believe there is a strong and sustainable commercial market for UNI-SOLAR products. USO's next-generation, 12% efficient, flexible PV products build upon 25 years of PV experience and enable highly competitive production costs with a fundamentally differentiated product. However, our current capital structure and legacy costs are preventing USO from making the investments necessary for the future of the business without restructuring through the bankruptcy process," said Julian Hawkins , ECD's President and Chief Executive Officer. "The processes we initiated today will afford greater opportunity for ECD to maximize value for its stakeholders and conduct an orderly sale of USO to ensure it is viable and successful for the long-run."
The Company has retained the investment banking firm Quarton Partners, LLC to manage the sale process, which is expected to be completed in 90 days. To participate in the USO sale process, please contact Andre A. Augier at +1 (248) 594-0400 or aaugier@quartonpartners.com. For general questions about USO or its restructuring, please contact the Company at the numbers below.
Sale of OBC and Other Businesses and Assets
On February 13 , ECD sold its majority owned subsidiary, Ovonic Battery Company, Inc. ("OBC"), to BASF Corporation for the gross purchase price of $58 million in cash before transaction fees, minority participations, and working capital and other adjustments. OBC is the inventor and worldwide licensor of nickel-metal hydride ("NiMH") rechargeable battery technology and is pursuing advanced battery technologies, including cathode materials for lithium-ion chemistry batteries. 35 OBC employees have been hired by BASF as part of this transaction. ECD's financial advisors on the transaction were Quarton Partners, LLC and legal advisors were Honigman, Miller, Schwartz and Cohn LLP .
ECD maintains a portfolio of other assets including intellectual property, miscellaneous fixed assets, and an approximately 39% stake in its Ovonyx, Inc. joint venture. Ovonyx holds the patents in, and is pursuing the commercialization of, phase-change random access memory ("PCM" or "PRAM"), also known as Ovonic Universal Memory ("OUM"). Ovonyx is a joint venture with its co-founder Tyler Lowrey and its shareholders include Intel Corporation. Ovonyx's licensees include Micron, Samsung , Hynix, and ST Microelectronics, among others. Quarton Partners, LLC will also manage the sale of these additional assets.
Disposition of Solar Integrated Technologies
Solar Integrated Technologies, Inc. ("SIT"), a U.S.-based wholly owned subsidiary of ECD, has voluntarily filed a petition for relief under Chapter 7 in the U.S. Bankruptcy Court for the Eastern District of Michigan in a separate proceeding. SIT is an engineering, procurement and construction management company with solar installations in the U.S. and Western Europe . As a result of this filing, SIT and its European subsidiary, Solar Integrated Technologies GmbH , will continue to operate, though separately from ECD and USO , during the disposition of the SIT proceeding.
Abbreviated Financial Results
For the quarter ended December 31, 2011 , the Company generated consolidated revenues of approximately $20 million and shipped approximately 11 megawatts. The Company continued to operate at unsustainable levels, resulting in substantial losses and a continued decline in cash balances. With the proceeds from the OBC transaction (which closed after quarter-end), ECD presently has approximately $145 million in unrestricted cash and short-term investments.The Company has determined that its current financial position is insufficient to sustain the current operating environment and make the necessary investments for the future of the business, without restructuring through the bankruptcy process. However, current cash is anticipated to be sufficient for expected operations during the Chapter 11 proceeding, and therefore the Company is not expected to require third-party debtor-in-possession financing.
ECD will file with the Securities Exchange Commission a Form 12b-25 today that notifies investors that the Company will not be able to file its quarterly report on Form 10-Q for the quarter ended December 31 , 2011.The Company has devoted its limited available financial and accounting resources to prepare for the bankruptcy filing and sale process.The Company intends to make such disclosures as are required in the bankruptcy process, including monthly reports.
Case Information
Information about the ECD and USO cases as well as relevant information for customers, suppliers and partners can be found in the "Restructuring" section of the Company's website at
www.energyconversiondevices.com. Media inquiries should be directed to the Company at the contacts listed below. Parties interested in acquiring USO or other ECD assets should contact Andre A. Augier at Quarton Partners, LLC at +1 (248) 594-0400 or aaugier@quartonpartners.com.
ECD has retained Honigman Miller Schwartz and Cohn LLP as legal counsel and AlixPartners as financial advisors to assist the company in the Chapter 11 process.
Based upon the estimated value of the Company's assets and forecasted costs and operating losses during the Chapter 11 process, the Company does not expect to generate proceeds sufficient to satisfy all of the Company's pre-existing obligations to its creditors. Accordingly, unless the Company realizes greater-than-expected value from the sales process, the Company expects that no distributions will be made to holders of common stock and the common stock will be extinguished upon confirmation of the Chapter 11 plan.
About Energy Conversion Devices
Energy Conversion Devices ("ECD") (Nasdaq:ENER) has a renowned 51 year history since its formation in Detroit, Michigan and has been a pioneer in materials science and renewable energy technology development. The company has been awarded over 500 U.S. patents and international counterparts for its achievements. ECD's United Solar wholly owned subsidiary has been a global leader in building-integrated and rooftop photovoltaics for over 25 years. The company manufactures, sells and installs thin-film solar laminates that convert sunlight to clean, renewable energy using proprietary technology. UNI-SOLAR brand products are unique because of their flexibility, light weight, ease of installation, durability, and real-world energy production. ECD's Ovonyx joint venture is the worldwide licensor of phase change memory ("PCM") technology. For more information, please visit ECD on the web at energyconversiondevices.com and on Facebook , and follow ECD on Twitter @ECD_ENER.
Safe Harbor Statement
This release contains forward-looking statements within the meaning of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements do not constitute guarantees of future performance. Forward-looking statements include statements concerning our plans, objectives, goals, strategies, future events, future net sales or performance, capital expenditures, financing needs, restructuring, plans or intentions relating to expansions, business trends and other information that is not historical information.For example, forward-looking statements included above are:"We firmly believe there is a strong and sustainable commercial market for UNI-SOLAR products"; " USO's next-generation, 12% efficient, flexible PV products build upon 25 years of PV experience and enable highly competitive production costs with a fundamentally differentiated product"; and, "The processes we initiated today will afford greater opportunity for ECD to maximize value for its stakeholders and conduct an orderly sale of USO to ensure it is viable and successful for the long-run". All forward-looking statements are based upon information available to us on the date of this release and are subject to risks, uncertainties and other factors, many of which are outside of our control, that could cause actual results to differ materially from the results discussed in the forward-looking statements.Risks that could cause such results to differ include, but are not limited to:
the potential adverse impact of the bankruptcy proceedings on our businesses and therefore the value of our assets;
our ability to obtain court approval with respect to motions we make in the bankruptcy proceedings from time to time;
our ability to maintain our customer relationships and establish new relationships;
our ability to identify a buyer that is interested in acquiring USO on an on-going basis at a price that will be supported by our creditors;
the worldwide market for solar energy systems;
changes to government incentives related to solar energy;
our customers' ability to access capital to finance the purchase of our products;
our ability to achieve expense reductions and levels of one-time costs, including restructuring charges;
our ability to meet all the terms and conditions of our debt obligations;
our ability through technology improvements to reduce cost and improve the conversion efficiency of our solar products.
The risks and uncertainties and the terms of any reorganization or liquidation plan ultimately confirmed by the Court can affect the value of our various pre-petition liabilities, common stock and other securities. No assurance can be given as to what values, if any, will be ascribed in the bankruptcy proceedings to each of these constituencies. A plan of reorganization or liquidation could result in holders of our liabilities and securities receiving no value for their interests. Because of such possibilities, the value of these liabilities and securities is highly speculative. Accordingly, we urge caution be exercised with respect to existing and future investments in any of these liabilities and securities.
The risk factors identified in the ECD filings with the Securities and Exchange Commission , including the company's most recent Annual Report on Form 10-K and most recent Quarterly Report on Form 10-Q, could impact any forward-looking statements contained in this release.Energy Conversion Devices, Inc. assumes no responsibility to update any forward-looking statements contained herein, except as required by law.
CONTACT: Michael E. Schostak Director of Business Development & Communications Energy Conversion Devices, Inc. +1 (248) 299-6063 investor.relations@energyconversiondevices.com Steven Blow Eisbrenner Public Relations +1 (248) 303-1067 sblow@eisbrenner.com
Source: Energy Conversion Devices, Inc.
Just came across, they Filed Chapter 11.....
Saw it on etrade a second ago, still haven't got it on my EF yet...
Sell then... To me, it sounds like it might take a dive today due to that pretty bad news about the 40 million dollar contract. The issue isn't with the contract it self, but with the fact that they state they can't compete with bio diesel companies in other countries due to the tax system in the one where they make it.
They eliminated a ton of debt, which yes, increased profits, which is a fantastic thing. One might be worried, but they also tripled revenue for the quarter, which shows they have plenty of income. On top of that, NONE of the 40 million dollar, 6 month contract revenue and profit is even included in this...
The other PR how ever is not so good....
Not only that, but this is for the period ending Dec 2011.... So this isn't even including any of the revenue from the 40 million dollar 6 month contract, which they just started receiving in Jan.
So trippling the revenue and going from a 14 million dollar loss to a 3.8 million dollar profit is "underwhelming" ? Man what world do you live in......
One simple and small sell AH isn't "some one manipulating" it..... There are FAR better and more effective ways to manipulate a stock AHs then a single sell.....
Look buddy, you need to learn some of the very basic things of trading. Its a simple sell, EVERYONE can see that on the AH trades..... There were only 800 shares on the bid in the 80s, so when the guy sold 6k, it knocked out those market makers. If you only have someone buying 800 shares at 1.80 and 1.83, and someone puts a market sell order in got 6,000 shares, guess what, their is obviously not enough shares to fill that, so it drops the price.
Please go google trading 101 and get a clue...
If you think that then you have a LOT to learn about trading. There were very few shares on level 2, someone sold 6k, there were far less than that in the 1.80s so it knocked out a few of the market makers until the whole order was completely filled. It was a simple sell.... Nothing more....
You can see it clear as day on level 2 and via the trade window. There is really no such thing as "market maker manipulation", traders control the MMs, I can go and place buy orders with 10 different market makers at the same price right now if I wanted to. Maket makers don't play games, people can play games with the MM and control them, but market makers them selfs are nothing more than automated programs that match buy and sell orders.
In this case it was just someone who put in a market sell order for a large block that caused it to down tick, simple as that...
It has nothing to do with market maker "manipulation", some one sold a bunch of shares, around 6k from the looks of it. It's very thin during AH, so if anyone sells a decent amount of shares it knocks out the market makers and drops the price a lot, same thing if anyone buys a large block....
It has nothing to do with any type of manipulation, this is just simply how buying and selling works after hours on a thin stock such as this....
Burn Shorts Burn!!!!!!!!!!
pps going up premarket, bid support upticking, wouldn't want to wait on this one either. Could be pretty explosive out of the gate.