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@CEE-IT" - "So Question: Where should they get the money to pay for the programs?"
Answer: How about PE or VC? Subordinated debt could work with a convertible option. A straight-up loan backed by the plethora of patents could also work. Harry either believes in his technology or he does not. If he does, he should be willing to take the risk.
In short, there are many options that are less damaging to the stock price that CYPW could explore.
The stock price says it all.
Agreed. Harry should concentrate on producing a deliverable product. Further, the extreme dilution must cease. The entire capital structure of CYPW is flawed and that also needs to be addressed. Chris Nelson needs to work a lot harder to establish credibility for the common stock holders.
I remain unimpressed. I became a multimillionaire by being industrious, creative, working all weekends, holidays and taking no pay for years. I also produced, patented and sold products that actually work. I did NOT do so by screwing over shareholders as is happening now. Harry has a lot of work to do before he can claim any success.
The stock price and its history tell the story.
This has been mismanaged from the start. Harry's entire business background has been as a tinkerer and it's really showing now. Sad, really.
I've run three companies and became a multimillionaire in my mid-thirties. I sold one, did an IPO and now a large computer company is looking to buy me. So I can state with confidence that I have accumulated a lot of experience here.
Harry is a tinkerer - and a darn good one. He understands little about business. That's been proven for some time.
Why is there a lawsuit between Chuk Williams and CYPW? That will have to be revealed in the next quarterly report. The handling of that situation is appalling. The last thing CYPW needs is a non-productive legal battle.
It's all in the quarterly reports. The dilution is easily calculable by looking at how many shares were issued, to whom and for what consideration.
This $250k note under such Draconian conditions can only mean that CYPW is very desperate for cash right now. Quite scary.
Where is the BoD on this? They should be protecting shareholders and it appears that they are shirking their fiduciary responsibility.
That new note is terrible for us shareholders. It has a 9% coupon, a 12-month life and a 5-year tail @$0.20. It proves that Harry and Frankie cannot run a company. I have called Harry Schoell stubborn before but now I will add stupid to the list of adjectives. The dilution will get even worse.
If CYPW goes under $0.10 before 2012 is out, I will not be surprised.
Cute, but how many sales did CYPW get as a result of that letter?
Agreed. Sales and a functioning product are everything. Currently, CYPW lacks both.
Piecemaker, you have that right to disagree.
As I have posted before, I have spoken with Harry and he is a very creative individual. I really respect his abilities in that space.
Harry does, unfortunately, lack an in-depth understanding of the importance of real achievement, public perception and capital structure on the investment community. I have been hoping that the BoD and Chris Nelson could guide the "CYPW Ship of State" in the right direction, but the jury is still out on that.
The stock price and buy/sell patterns speak volumes. CYPW ignores that at its continued peril.
The shares have been spent years ago to compensate employees and directors. They are liquidating as they can to get cash for themselves. Until and unless Harry actually produces and sells something that really works, the decline will continue. As I have posted many times before, Harry is not a smart businessman in any way, shape or form.
I remain curious as to the details of the lawsuit between CYPW and Chuk Williams regarding the steam car (version 1). Harry is a hot head and that may be the source of CYPW's problems. Harry is also very stubborn which can be harmful if not tempered with discipline.
CYPW needs revenue and a working engine that is actually in the field. The should also seek external investment through either PE or VC or both. The problem is that CYPW's capital structure is FUBAR and no decent VC/PE outfit would touch that. Such firms would insist on Harry & Frankie giving up control which Harry would not do. So here we sit.
All shareholders should read the reports.
Those reports are there for a reason and they should be read. Until and unless real product gets into the market and actually functions, the dilution will continue which will keep the share price depressed.
Those of us who read the reports can reliably predict both the volume and likely price, based upon the shares issue to management and employees in lieu of salary.
Harry has paid staff with stock in lieu of salary. So, these employees are now liquidating because they need cash. Expect more of this behavior in the future. I agree that Harry is very paranoid because I have spoken with him and that came out loud and clear.
Wake me up when the stock gets about 40 or 50 cents.
I was there and heard it directly. So, you may doubt all you want but Harry is a bit of a hot head. If he keeps that up, it will be his (and our) undoing.
Few investors read the quarterly and annual reports which is a big problem.
Having spoken with Harry some time ago, he is that kind of guy - which is exactly why he makes a very poor CEO. He once stated that "I'm a big dog and I bite and I have very rich friends". What a silly thing to say. Harry makes mindless threats without any means to back them up and that diverts energy and resources away from making CYPW profitable.
The last thing that CYPW needs right now is another money-absorbing distraction. I can only hope that sanity will prevail and Harry will stop this silly nonsense. Here is where the Board of Directors needs to step in and assert control to protect shareholders.
The stock price speaks more loudly than any PR.
Q2 ended on June 30, 2012. It is now August 13, 2012. Has Raytheon received those engines? Do we have any proof of that?
Here are some CYPW Competitors:
1) http://www.greensteamengine.com/
2) http://www.newsteamengine.com/
3) http://abrahamsays.blogspot.com/2011/05/secret-steam-powered-car.html
There are many others. You just have to do your own DD.
In today's PD, Lockheed Martin just got a contract for portable power units for the US Marines that are fuel-cell and solar-cell based. The Marines needed something very quiet that they could put in a tent and that would not give away their position. CYPW lacks that capability of quietness.
A simple Google search will come up with over a half-dozen companies competing in this space,many with patents already awarded and they are located overseas. Many are also institutionally funded and with some government assistance.
Harry and his team had better wake up and get moving - rapidly.
Again, CYPW's competition is growing rapidly and globally. They are also better-funded. HArry and crew had better get moving or the marketplace will render them irrelevant quickly.
Harry and crew had better speed things up. Here's a link to a biotech company that is competing directly with CYPW: http://www.bioliquids-chp.eu/index.php?id=35&rid=12&r=&PHPSESSID=gbspfi0k8b5hjmd4tk8a9lucv3
There are many other examples. "Slow and steady" will LOSE this race. It's all about getting it to market quickly.
CYPW's capital structure is a big problem. The current structure regarding share classe4s and voting rights makes it nearly impossible to attract decent institutional investors. Further, since key personnel were compensated with stock that's now free trading,share price will continue to be depressed.
I'll be impressed with Chris and Frankie only when they get this under control and we see significant upward movement in the share price. Until then, they remain in the "rank amateur" category business-wise.
At the end of the day, CYPW still does not have a fully-operational engine in the field. They need to get there - and soon. As I have posted before, Harry is a "good tinkerer" but he is not a smart businessman at all.
Haven spoken with Harry, he is a good "tinkerer". As a business CEO, he lacks fundamental skills. Invest at your own risk.
If you read the reports, you will be aware of the O/S. Those were given to employees in lieu of cash compensation. So after the 144/145 rule time limits expire (different for everyone), those employees are liquidating. It's not rocket science. This process will continue until those shares are liquidated.
Faith is nice, but reality is better.
I disagree. The company needs real performance. It's that simple.
The stock is going down due to liquidations by CYPW personnel who need to do that for compensation. CYPW has been paying key employees with stock since 2008. Why can't you read and comprehend the quarterly reports? It's not rocket science.
We have a saying in the VC world: "Dumb money always cashes out smart money". Happens every time.
Forgive the repetition but here we go:
The share price is depressed because so many shares have been given to employees in lieu of cash compensation. Now that Rule 144 (and 145k) limitations are expiring, these individuals are divesting some shares in order to get cash (= salary). That's understandable.
What's really amazing to me is that so many iHUB posters simply do not read (or possibly do not comprehend) the quarterly reports. The required data is all there - you simply have to read & understand it.
"Dumbing this down" (for those who need it): If you count the number of first graders, that's a pretty good indication of the number of second graders that you'll have in your class next year. It's not rocket science.
Hmmmmm. I have spoken with Harry Schoell and he is a good "tinkerer". That has not translated into significant revenue yet but it has a chance. I wish him the best.
As a businessman, his ability is limited. At his current age it may not be feasible for him to learn. That's OK because Chris Nelson is involved as well and I have spoken with him.
Time will tell.
Agreed. Harry Schoell is a very good "tinckerer". However, as a businessman, he is quite sub-par. That was also obvious in my verbal communication with him.
Good for you! Rock on!
Hi Lortap - Sorry to repeat a post but it is needed.
The capital structure of CYPW is messed up through two mechanisms:
First, CYPW accepted a highly-tainted public shell years ago and thus inherited all of the obligations pertaining thereto. Those obligations included a very generous stock conversion promised to a few people, including the two "perps" James C. DiPrima (currently doing another pink-sheet scam called "Rising India" RSII ticker along with Arthur Taylor) and Robin D. Moody (whereabouts unknown). That was stupid.
The second thing is that nearly all CYPW people have been compensated via stock which many of them can now liquidate due to expiration of Rule 144 or 145 as applicable.
Third, a lot of stock has been sold to fund CYPW that can now be liquidated due to expiration of Rule 144/145 as applicable. So, the downward pressure on the stock price is obvious and will continue.
The good news are the contracts that are starting to get into the pipeline. I have spoke with Raytheon folks as well to verify certain things. That will cause upward pressure because it is very real. That is important.
I have also personally spoken with Harry Schoell. He's passionate and creative. He is also definitely not a businessman which explains why Chris Nelson is now president. We will see how this all plays out, but I remain optimistic, long-term.
I pretty much agree. As I have posted before, the capital structure of CYPW is messed up through two mechanisms. First, CYPW accepted a highly-tainted public shell years ago (it's all in the reports) and thus inherited all of the obligations pertaining thereto.
Based upon reading the reports, the two people involved in flipping the public shell were James DiPrima (Omaha, NE) and a "Robin Moody" who's whereabouts are unknown. So you have that and the fact that a group of shareholders who retained had conversion rights - which have been exercised.
The second thing is that nearly all CYPW people have been compensated via stock which many of them can now liquidate due to expiration of Rule 144 or 145.
Third, a lot of stock has been sold that can now be liquidated due to expiration of Rule 144/145 as applicable.
So, the downward pressure on the stock price is obvious and will continue.
I have personally spoken with Harry Schoell and he is a passionate and creative guy. He is not a businessman which explains why Chris Nelson is now president. We will see how this all plays out, but I remain optimistic.
Fellow posters - I own quite a bit of CYPW stock. The reason the price is stagnating is because most folks working there were (and still are) paid in shares of stock. Further, the Rule 144 restrictions have mostly gone away (due to time period expiration) and those folks are liquidating to "get paid" via the public capital markets. There's your downward pressure on the price.
Everyone here should read the quarterly reports in VERY carefully. They are published for a good reason. From CYPW website, as of June 15, 2011, there were 216,371,789 common shares which included the conversion of all Series A Preferred Shares. Also, there were 1,000 shares of Series B Preferred.
So, the dilution over the past few years has been extreme, to say the least. That's how this biz works. You shouldn't play the game if you do not understand it.
I am confident that the technology can be successful. I am also happier that Chris Nelson is President because Harry might be a decent mechanical guy but he sure cannot run a company. I have spoken directly with him and that conversation convinced me.
Long-term, we should be OK.
Last year, I held about 1.6 million shares @$0.12. Nice.