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Good News on WNDT!
WindTamer Corporation Receives First Order from New European Distributor
ROCHESTER, N.Y., April 6, 2011 /PRNewswire/ -- WindTamer Corporation ("WindTamer" or "the Company") (OTCBB:WNDT.ob - News), a developer and manufacturer of wind turbines and renewable energy power storage and management systems and a supplier of solar energy systems, announced today that it has entered into an agreement with UAB WindTamer Europe ("UAB WindTamer" or "the Distributor") for the exclusive distribution of WindTamer turbines and other products manufactured by the Company in Lithuania, Latvia, Denmark, Sweden and The Netherlands.
(Logo: https://photos.prnewswire.com/prnh/20101115/NY01642LOGO )
WindTamer Corporation said it has received an initial order together with payment for two WindTamer 8.0GT and one WindTamer 4.5GT wind turbines from the Distributor.
Under the terms of the agreement UAB WindTamer Europe, a newly-formed entity which is not an affiliate of WindTamer Corporation, has the right to purchase, market, re-sell, assemble, install and otherwise distribute the Company's products within the exclusive territories.
"WindTamer Europe is located in Lithuania's seaport city of Klaipeda on the edge of the Baltic Sea," said Mindaugas Mazonas, Director of Sales of UAB WindTamer Europe, "making it a convenient location for shipping via both sea and land. More importantly, the territories in which we will market WindTamer Corporation's products are all located on or near the Baltic Sea, which means the wind resources are very favorable and conducive to wind energy generation and, we believe, to the marketing of WindTamer's products."
"We chose WindTamer Corporation after extensive due diligence because their turbines meet European standards and we concluded that it's the best and most efficient system in the market," Mr. Mazonas said. "Our company is planning to be the biggest WindTamer distributor in Europe."
"Power generation and the cost and availability of electricity are major issues in Lithuania," Mr. Mazonas continued. "Lithuania was one of the most nuclear-dependent countries before closing its last Soviet-made reactor in 2010." Lithuania currently produces no nuclear power and must purchase electricity in the free market.
Although there have been plans to build a new nuclear facility in Lithuania, a recent poll indicated that 88% of Lithuanians oppose the project and recent reports indicate that investor interest in building the plant has waned, said William A. Schmitz, WindTamer Corporation's Chief Executive Officer.
"In our discussions with potential European partners we are receiving indications that the recent moratoriums and re-thinking of nuclear power production may well result in rising electricity prices in Europe," Mr. Schmitz said. "This prospect makes the value proposition of our wind turbines and other products, especially our Power on Demand system, even more compelling."
Mr. Schmitz said he anticipates a minimum of $1.5 million in orders over the next 12 months from UAB WindTamer Europe.
That is a great point and was thinking along those same lines. Go PSPW, can't wait.
Hi wakl, I have a substantial amount of the other and I thank you for turning me onto it. I still believe WNDT has tremendous potential and hold substantial amount of it also. IMO they seem to have worked out the kinks, they raised more capital in March albeit by dilution but never the less it provided working capital. I may be wrong but I believe they may surprise us this year and I would rather be in low then chase later.
Isn't that what we want? The share price to increase in value.
If your trying to get cheaper shares, your not getting mine, There can't be a delay when there is no date to delay from.
Can't be a delay if there is no set date to begin with.
WEEEEEEEEEEE finally something to cheer about, let's hope it lasts and something is up! GO WNDT!
maybe patience will finally get paid off. Definately nice to see green for a change. Go WNDT!
How can there be a delay when a specific date hasn't been given in the first place?
nice to see green for a change, maybe that govt. contract is getting close. fingers crossed for a better year.
I use schwab, they told me simply a name change, I can buy or sell if I want under the ticker PSPW
I trade with schwab, I was told, the reason for the symbol not showing on my account is because of the name change, when they receive the new shares everything will show as normal and the company will still be trading under PSPW today.
So the loan was paid using their own personal bank accounts, positive news?
I have an idea, lets sell 10,000,000 more shares to some rich folks for a nickel, stay in business another year, they have immediate profit and we can talk about why were still at 15 cents at next years meeting.
BTW thanks wakl for PSPW!
IMO, Companies with a high YOY growth potential would get a higher multiple. Say after all is said and done, the projected EPS for 2011 is 20 cents per share, with potential YOY growth of 100%. I would guess .20 eps x 30 PE( which is low IMO) would equal a share price of $6.00 per share. All these numbers are unknown at this point but IMO on the conservative side.
On January 24, 2011, Prime Sun Power Inc. (the "Company") entered into a Term Sheet with Seawind International Ltd., ("Seawind"), (the Company together with Seawind, the "Parties"). The Parties initially targeted to close the acquisition of Seawind by the Company on February 25, 2011, however the Parties have agreed to allow the transaction the necessary time to comply with the statutory and regulatory requirements of their respective jurisdictions in a more economic and efficient manner. The Parties have therefore mutually agreed to defer the closing of the acquisition until after completion of the UK Tax year end of April 5th, 2011. On this basis, the Parties are working upon a revised timeline for closing to be announced very shortly.
Further, the Company has made significant progress with respect to its funds raising negotiations with an institutional investment group and the parties are currently discussing the final terms of the financing closing.
The Company intends to change its name to 3Power Energy Group Inc. as soon as reasonably possible.
In addition, the Parties have agreed that for purposes of consummating the acquisition, the Company has revised the increase of its authorized share capital to 300,000,000 shares prior to issuing shares in exchange for the acquisition of Seawind.
Following the closing of the acquisition, the Board of Directors of 3Power Energy Group Inc. shall consist of five directors, with two Directors to be nominated by each of Rudana and Seawind, and a fifth director to be nominated by Rudana subject to acceptance by Seawind. The Company anticipates that the directors nominated by Rudana will commence their services prior to the closing of the Seawind acquisition.
Most stocks in the OTCBB would have a hard time getting 1 million financing, that is HUGE!
On March 10, 2011, Prime Sun Power Inc. (the "Company"), recently rebranded as 3Power Energy Group, entered into a Financing and Security Agreement with CR&P Holding S.p.A., an Italian investment group, for a $50 million secured loan. The Company intends to use the facility to finance photovoltaic, wind and hydro power plant development projects and prospective acquisitions in Italy, France Turkey, Albania and Chile. The proceeds of the loan will principally be utilized to finance the equity portion of the first projects from the Company's existing pipeline as well as to cover some of the Company's operational expenses and predevelopment costs.
The loan is being made available to the Company at a fixed rate of 5% per annum for a period of 10 years. In addition, the lender will also receive 20% of the annual net profits derived from each project for the duration of the loan. The loan will be secured by the assets of each special purpose project subsidiary holding company. Each draw of the loan amount by the Company will be subject to customary due diligence by the lender. 3Power management is coordinating with CR&P in regard to the selected projects details and use of loan proceeds information in order to finalize the loan proceeds disbursement plans.
New to the board and long PSPW.
I found a small amount of info on CR&P Holding S.p.A.
CR&P Holding S.p.A.
Viale Bruno Buozzi 83
Roma, Roma
00197
Italy
Amministratore Delegato PIERANGELO GALLO E-mail
President Titolare ANTONIO CONTE E-mail
Consigliere GIUSEPPE ROSCIOLI E-mail
http://www.hoovers.com/company/CRP_HOLDING_SPA/cyrfjjjhk-1.html
http://maps.google.com/maps?f=q&source=s_q&hl=en&geocode=&z=7&iwloc=A&q=+Viale+Bruno+Buozzi+83+Roma,+Roma
Here is a copy of the email I received from the company.
To help answer some of your questions and concerns, I've included below a copy of an email of my reply to another shareholder. I deleted out the person's email/name.
In addition, to answer your specific questions:
1) We cannot release any information on Q1 until it has been released to all, publicly, via sec.gov. The 10Q will be out after our 10k. We are hoping to have the 10k out around mid-March. The 10Q should be around mid-May, our goal is before the Annual meeting. As a shareholder, you should get the 10k and the Proxy in the mail some time in April, but it will be posted on sec.gov and our website before that.
2) The company is not selling shares in the market. The company has completed private placements, which have been filed on sec.gov; in order to limit dilution, we will only go back to the placements if we absolutely need to.
Please see below my response to some of the other shareholders. I am a shareholder as well, and a lot of friends and acquaintances that I know have also invested, so I also am rooting hard for WindTamer.
Feel free to share this response to others that you know are concerned. Or direct them to me at cmahon@windtamerturbines.com And thank you for your continued support!
Cherrie Mahon
We’re working with limited bandwidth, but from what I’ve been informed of the Power On Demand system is up and running and a major feather in the engineers’ caps. It is a system that will move the company away from being reliant on just one product. We now offer a variety of energy solutions, and by combining them, offer customers a better payback. These systems are the current main push for sales.
The engineers are also happy with the wind turbine testing status, but we must continue with our third party verification through Intertek to get certified and gain credibility. That takes months, or until they are satisfied. The military testing is still going, and I hear they are continuing testing. The DOD is under pressure, waiting for budget funds to be released, so it’s up to politics. The government, as we all know, can be slow – but we haven’t been informed anything else than what has already been press released.
Most of the management team, including myself, is taking stock instead of cash for pay in order to save cash for the company and essential expenditures. I’m pushing hard on several grant funding opportunities, but the grant funds are limited and the programs very specific, all in a competitive environment. The research, paperwork, and meetings to pull these are enormously time consuming. We are also working on the administrative functions of composing filings, including the Annual Report and Proxy Statement. Those materials will be posted on the website when complete, sometime the end of March – and mailed to shareholders by the end of April. The Annual Meeting is going to be around mid-May –and we will prepare a presentation, as well as get the proxy voting tabulations complete, for shareholders.
I too am disappointed in our stock price. The management team believes enough in WNDT to be taking stock instead of cash for pay; all have left solid reliable well-paying jobs and turned down other offers to be at WindTamer – we have shown significant confidence by taking these steps. This industry, wind/solar/alternative energy, has great potential – and our goal to have a clean earth and reduce our reliance on dirty energy, can do nothing but produce more opportunities. I’m disappointed in our current limited bandwidth and resources; BUT, the opportunities are out there; Sales has sent out many many quotes and proposals, but the sales process for these products can be slow. We have booked revenue, as you can see from our Q3, and the 10k will be out near the end of March – which will reflect revenue booked for 2010.
When we gain additional traction with more sales, which Bill Schmitz publicly announced he was expecting this year, we are still here and supporting the company as best we can; many of us are working long hours, weekends, and doing tasks that are out of our normal realm. I apologize for your feeling of lack of ‘news’, but my hands are tied to when management and counsel feels an event has occurred that is ‘significant or material’. When we have signed deals, material events, and permission, WNDT will surely spend time and money resources to compose and send out a press release.
Thank you for your support and interest in WindTamer.
Cherrie Mahon
WindTamer Corporation
1999 Mt. Read Blvd.
Rochester, NY 14615
585-243-4040
Obviously not happy about the 8-K. Schmitz, Hedges and Hughes own money is on the line.
The borrowings under the Loan Agreement are secured by limited guarantees (the "Guarantees") provided by two of the Company's officers, Chief Executive Officer William Schmitz and Acting Chief Financial Officer Molly Hedges, and one shareholder, Michael Hughes (collectively, the "Guarantors"). The Guarantors have established cash-collateral accounts with the Lender in an aggregate amount of $1,000,000.
I would expect something to happen soon, IF it is going to.
very profound, let there be light!
Nice one. lol
Its like buying a new car, taking a sledgehammer to it, then putting it back on the market for resale. Just makes no sense to me. I really hope this company does what they said they were going to do and all the naysayers can eat crow.
If the posters on this board are shareholders. You all have a funny way of promoting your investment. I would like to believe that management is working on closing contracts. If they are taking stock in lieu of compensation, why not just shut the place down and call it a day two months ago.
I don't recall reading anything about a shutdown, where did you read that wakl?
ROCHESTER, N.Y., Dec. 15, 2010 /PRNewswire-FirstCall/ -- WindTamer Corporation ("WindTamer" or the "Company") (OTC Bulletin Board:WNDT.ob - News) announced today that it has undertaken temporary cost-reduction measures designed to reduce expenses during a period of approximately 6 to 12 weeks. WindTamer said it has been finalizing discussions involving several significant orders that are expected to close in the first quarter of 2011.
(Logo: http://photos.prnewswire.com/prnh/20101115/NY01642LOGO )
WindTamer has furloughed several production employees with the expectation that they will be recalled early in the first quarter of 2011. In addition, some production employees have elected to accept restricted WindTamer common stock in lieu of some or all of their cash compensation over the 12 weeks.
All of WindTamer's executive officers have also elected to receive restricted WindTamer common stock in lieu of some or all of their cash compensation over the next 12 weeks.
WindTamer Chief Executive Officer William A. Schmitz said that, "The executive officers of WindTamer have chosen to accept WindTamer common stock for some or all of their compensation for the next several weeks as a means of bridging a financing gap to several significant orders that we anticipate will be closed in the first quarter of 2011. Some of these orders involve large entities, including government agencies, where the negotiation and contracting process has taken longer than anticipated due in part to end-of-year factors. However, management's willingness to accept WindTamer shares for all or part of its compensation should be viewed as a signal of our confidence in the Company's outlook. Furthermore, I would like to stress that we stand by our recent projection of 2011 booked orders in the range of $15 to $25 million, in large part relating to our new 'Power on Demand' renewable energy storage and management system." WindTamer's first 'Power on Demand' system is scheduled to be installed by the end of December 2010.
Mr. Schmitz added that, "We are extremely appreciative of the understanding and cooperation of our furloughed production employees and we will make every effort to recall them at the earliest possible date that business conditions permit."
for every sale, there is a buyer, it just means he purchased at the bid price and not the ask.
ROCHESTER, NY--(Marketwire - 10/19/10) - WindTamer Corporation ("WindTamer" or the "Company") (OTC.BB:WNDT - News) Chief Executive Officer William A. Schmitz said today that he expects the Company to book orders of approximately $15 million to $25 million in 2011. Mr. Schmitz said that WindTamer had recently surpassed the $1 million threshold in booked orders.
WindTamer Corporation Joins EDGE® Innovation Network
Rochester, NY — February 23rd, 2011 — WindTamer Corporation (”WindTamer” or the “Company”) (OTCBB:WNDT.OB — News), a developer and manufacturer of renewable energy systems, announced today that it has joined the EDGE Innovation Network, a collaborative, open-environment initiative enabling industry and academia, with government input, to work together to enhance the delivery cycle of new technologies and innovative capabilities to warfighters and first responders.
“By joining the EDGE Innovation Network WindTamer is able to access the latest end user feedback and field requirements to ensure that the needs of the warfighter are met through our continuing product development. The real-time information from the users and collaboration with like-minded, customer centric companies provides WindTamer with a fast track for product development and renewable energy system fielding” said Mark Matthews, Vice President of Sales for WindTamer.
Pete Palmer, EDGE Innovation Network director, said, “The EDGE provides a new military and government acquisition paradigm by using both physical and virtual environments where EDGE members and users can collaborate and innovate together to deliver gap-filling capabilities in months rather than years.”
In the quest to provide improved and enhanced soldier capability, access to reliable renewable power is a critical operational requirement. The demand for renewable energy solutions in tactical environments and operations will continue to increase. WindTamer can provide enhanced energy system solutions through the leveraging its capabilities in wind, solar, power distribution and energy storage.
“We are excited to be part of the EDGE network and look forward to working with other members to identify opportunities where our micro grid systems can be applied to both defense and non-defense applications where overall operational effectiveness can be enhanced through improved renewable energy solutions,” said Adeeb Saba, Vice President of Operations for WindTamer.
About EDGE Innovation Network
Sponsored by General Dynamics C4 Systems, the EDGE Innovation Network currently has six Innovation Centers and over 170 members, including renowned academic institutions and dozens of domestic and international businesses like Cisco Systems, L3 Communications-West, Microsoft Federal and Adobe Systems, Inc. For more information, visit Edge Innovation Network.
About WindTamer
WindTamer Corporation is a developer, manufacturer and supplier of wind turbines, solar energy systems and custom-designed renewable energy storage and power management systems. The WindTamer diffuser-augmented wind turbine utilizes a patented technology for the production of electrical power. The WindTamer Power on Demand system utilizes inputs from multiple energy sources including wind, solar, fuel cells and the grid itself in conjunction with a custom-designed battery storage system and a proprietary smart monitoring technology that releases energy at optimal times to reduce peak power demand, thereby lowering electricity costs for large energy users who deal with peak usage pricing. WindTamer also manufactures a mobile trailer-mounted Renewable Energy Trailer that generates wind and solar energy to an onboard storage unit for military and other applications.
Forward-Looking Statements
This press release may contain forward-looking statements based on current expectations that involve a number of risks and uncertainties. WindTamer Corporation cautions investors not to place undue reliance on forward-looking statements, which reflect WindTamer’s analysis only as of today’s date. There can be no assurance that such forward-looking statements will prove to be correct, and actual results could differ materially. WindTamer undertakes no obligation to publicly update forward-looking statements. Further information on these factors, and other factors that could affect WindTamer’s financial results, is included in WindTamer’s Securities and Exchange Commission filings, including the latest Annual Report on Form 10-K.
Contact
WindTamer Corporation
Investor Relations
Cherrie Mahon
(585) 243-4040
ircontact@windtamerturbines.com
we are losing sight of the objective, as investors ,we are hoping the stock increases in value. wndt still has the mobile army unit and pod systems and individual units being sold. we have a company with potential to prosper. if mr. brock adds to the success, all the better, if not , I think the company has a management team that is focused on success. GLTA
I don't think is considered worthy of a news release unless something actually came of it. Wakl I appreciate you mentioning PSPW on the sight, sounds very interesting and took a position in the stock.
This is part of a response I received from Windtamer IR. I have to agree, if MR. Brock has what he is claiming, take the final step in the process and get it verified by a qualified company that does that type of work and prove it to world once and for all.
In response to your recent e-mail and your question regarding whether WindTamer and Mr. Brock are in "negotiations": As you may be aware, Mr. Brock remains a Director of WindTamer Corporation and as such he has an open channel of communication with Company management. Management is aware of Mr. Brock's claims regarding the performance of his blades and Mr. Brock has been invited on more than one occasion to provide the Company with performance data that has been verified by a qualified third party. To this point, Mr. Brock has been either unwilling or unable to do so. Management's position is that until it receives objective and qualified third party validation of the purported performance of Mr. Block's new design, it will focus its time only on matters that it believes are the best opportunities to create meaningful value for our shareholders.
Knowhow, you seem to know Mr. Brock pretty well. My question as a shareholder, what are the negotiations between Mr. Brock and current management. I don't understand why the current management team would not want the best technology available to sell, being substantial shareholders themselves. Mr. Brock also owns a large amount of WNDT shares. It just doesn't make any sense that if Mr. Brock is achieving those kind of results at Bigdogs, the two sides can't come to some sort of agreement. The object of the game is to make money. What could possibly stop a negotiated agreement.
Nice to see a positive post sweetwop. Wait till the military contract is announced, you will some scrambling to get on board then before the ship leaves port.
The question is, can the current management team and Mr. Brock put their differences aside and work together in the best interest of the shareholders and put this company on the map? I still believe Windtamer can be something special. The success of the company has to be first priority though.
Nice find Jersey, I hope that military contract comes soon.
Jersey, I never said Mr.Brock's new blades are only saving $30 per month. knowhow said he has seen the machine in action and it generated 220 KWH for the month of December. I may take him up on his offer that lildog will let anyone interested on the property to see for themselves. I said that it would be in the best interest of all shareholders for Mr. Brock to have the data verified by an unbiased third party and prove to the world the machine is performing that well, current management's obligation to do whats in the best interest of the shareholders would have to use Mr. Brock's new blades.
what happens when your wrong
she didn't say they all have been upgraded yet, they plan to upgrade all that need to be.We all would like things to be moving alot faster but like I stated earlier, I think 2011 will be a year to remember for Windtamer.
Your right govt contracts are a great supplement to commercial contracts, which I stated in my earlier post, I was informed the company is receiving great interest in the POD system from commercial players.