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SGW, the position papers have covered a lot of information on the Jatropha.
This is a pretty rugged plant:
"Feedstocks such as Jatropha are reported to add nutrients
back to the soil, reduce the need for irrigation, and help curtail soil erosion."
We have government backing:
"Production of biofuels is heavily dependent upon government support: from policies supporting decentralized production or local use, to those encouraging the organization of cooperatives. Subsidies have often benefited agribusiness firms, rather than small farmers or landless workers."
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Also, the Blue Diamond website has a sugar cane logo. Ethanol will be part of production. There are now 9000 independent sugar cane farmers under the Belize Farmers Association in Belize. BLDV will probably look to secure product from the farmers association for ethanol production, unless they grow the sugar cane themselves.
Quixopixs, I don't believe there's any connection with BLDV.
I came across this name a couple of weeks ago. The original company in New York is Blue Diamond Construction Management, Inc. and their information didn't match with BLDV.
The original article link of 05/18/2007:
http://caps.fool.com/Blogs/ViewPost.aspx?bpid=8213&t=01007468826027738866
It's common for construction companies to use the "Venture" name when partnering with other contractors and/or sub-contractors on a construction project.
Unless there's some other form of information, it doesn't appear to match with our gem, Blue Diamond Ventures, Inc.
Very good information in this article concerning the reduction of global crude oil and the U.S. displacement of 20 million barrels of petroleum imports with job creation in the biodiesel sector.
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I'm looking into a related area of concerning the Kyoto Protocol, the Clean Development Mechanism (CDM) and carbon credits.
It appears to me that not only does Belize benefit from the Kyoto Protocol, but companies, like BLDV, in the renewable energies sector.
I'm checking into Chevron's role in the Kyoto Protocol. Located a Chevron statement in 2006, "Chevron's commitment to managing and reducing greenhouse gas emissions began in 2001, when we began executing our Fourfold Plan of Action on Climate Change. Under this plan, we established a systematic protocol for estimating GHG emissions, and we now require our major capital projects to include a review of these emissions, including the impact of carbon-associated costs. We have continued to improve our own energy efficiency as well as help our customers do the same. At the same time, we are investing in the development of advanced energy technologies and deploying commercially proven renewable energy technologies around the world."
Georgia Callahan, General Manager - Global Policy and Strategy, Chevron Health, Environment and Safety.
I'll see if I can come up with something more definitive and include all links.
"Feedstock Frenzy"
http://biodieselmagazine.com/article.jsp?article_id=1959
I'll add in the Jatropha plant to the mix for BLDV in Belize.
"Emergence of Jatropha
Jatropha may be an alternative to using high-priced virgin vegetable oil to make biodiesel. It is a high oil-yielding perennial that grows where many food crops don’t, and could be an economic development engine in poverty-stricken regions. Moreover, it appears to be a sustainable alternative to using food crops for biofuels. Jatropha shows potential as a new biofuels crop, with big new development projects and plantations involving thousands and hundreds of thousands of acres announced almost weekly in the last quarter of 2007..."
mgland, your last 3 posts got it all on the Jatropha plant. Extreme oil production, I think.
I see where you got the information on the Cohune and the Jatropha. It was from the Blue Diamond video.
In case you didn't locate the PDF on the EEP link, I found an easier way to the PDF from Google:
http://www.sica.int/busqueda/busqueda_archivo.aspx?Archivo=dpro_14281_1_17042007.pdf
Lot of information here regarding Belize moving towards renewable engergies because currently imported energies are draining their economy.
Quixopixs, good analysis on the Cohune Palm Tree and link.
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I found out that Belize is part of the Energy and Environment Partnership with Central America (EEP). This Partner ship has other affiliates in Central America, Austria and Finland.
After clicking on the link, you can go to the "Projects" link and view the areas of renewable energy that is being developed in Belize. It's much more than just biofuels.
http://www.sica.int/energia/index_en.aspx?IdEnt=117&Idm=2&IdmStyle=2
One of the "Project" PDF's is titled Jatropha and has an interesting item regarding the Jatropha plant.
Check the oil yield of the Jatropha using the improved seed material:
"Species; Jatropha curcas (JC) or Physic nut
Oil production (liter/hectare); 100-800 natural production systems 3000- 4000 commercial management systems Using improved seed material"
"To meet the increasing demand of raw materials, biodiesel makers have a wide range of options. But the cultivation of the JC plant, a tropical shrub that grows in near absence of water, is starting to catch the interests of researchers, policy makers, and the energy industry. Although many labs
in India and elsewhere have been working with about a half -dozen edible oilseeds for the production of biodiesel, the inherent properties of JC as – a durable tree that can produce oilbearing, non-edible seeds over a 30-year lifespan – appear to have some clear advantages. Soybeans for example, tire the land and require expensive crop rotation and fossil -based fertilizers. In contrast, JC plants control erosion and improve soil. Also, high -quality biodiesel made from JC oil can be produced to meet stringent European emission norms."
There's a big movement towards biofuels as indicated in many articles from worldenergy.net:
Airbus to Develop Biofuel for Jets
05.20.08
European aircraft maker Airbus has teamed up with several companies to develop a biofuel that could meet a third of all commercial aviation fuel demand by 2030 without affecting food resources, the company announced.
Airbus will work with Honeywell Aerospace, UOP (a Honeywell Company),International Aero Engines and JetBlue Airways to convert non-food crops and algae-based oils into jet fuel.
http://www.worldenergy.net/public_information/show_news.php?nid=461
Sterling, I have a question for you. Wouldn't the possibility of a forward split of BLDV shares be non-existent since Nexgen Biofuels recently filed their 10-Q stating there were 42,720,998 shares as of 05/09/2008? Just wondering?
Also, I noticed that the recent 13D for Mac Bioventures & Raca (wife of CEO is beneficiary) included a copy to attorney, Brian Brodrick; of Phillips Nizer. It appears to me that Mr. Brodrick probably represents NexGen Biofuels. A copy to this attorney appears to legally notify NexGen Biofuels of the transaction. I point this out because Mr. Broderick is experienced in Securities, Reporting and Mergers & Acquistions (?).
http://www.phillipsnizer.com/attorneys/brodrickbri_bio.cfm
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=5666006
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=5677524
BTW, I'm not sure how I found BLDV, but your DD kept me highly interested in this company. Thank you.
Thanks for the last two in-depth postings.
BTW, something I noticed on NXGNF.OB yesterday. Only 100 shares traded for an .05 increase to .30.
Today, no shares traded so far. Don't know if there's any connection to what's happening here?
True. Hopefully, they only gave the MM's 1 hour to get it together since there's has basically been no movement. Then, it's off to the races.
Stuck at .008. Looks like no volume for over 1/2 hour at .009. Now they dropped to .008 on 37,000 shares ??
Thanks for the link to businessjive. Informative.
There's been some discussion regarding what feedstock BLDV will be using to produce biofuel. My understanding is that second generation crops would be used for biofuel production and technical assistance would be provided by Texas A&M.
Texas A&M has a website dedicated to AG News and Public Affairs. I linked to their "Biofuels" section. AG News is basically their press release section.
There's a new website for AG News from October 10, 2007:
http://agnews.tamu.edu/dailynews/storylisting.php?listby=topic&page=0&id=19
Also, there's an older AG News website for news prior to October 10, 2007:
http://newagnews.tamu.edu/dailynews/stories/FUEL/index.html
Located an amazing video webcast of Chevron VP & Chief Technology Officer, Donald Paul, who spoke at the Dow Jones VentureWire Alternative Energy Conference on October 23, 2007 in Redwood City, CA.
Yes. He has had conversations with Start-ups regarding Biofuels. Chevron is not interested in acquiring companies. A student in the audience ask him about what Chevron will do regarding carbon emmission reductions. One of a few points included diversification of the portfolio to include things like biofuels.
This is a 29 minute video, so enjoy when you have the time to listen.
http://video.energypolicytv.com/displaypage.php?vkey=d56c7edf3365fea7520f&channel=Sustainability
The picture is certainly becoming clearer...
(jmo)
It is mentioned in other articles that only "second generation energy feedstocks for cellulose and bio-oils" would be used.
For one, the Texas A&M article of 07/02/2007:
http://biz.yahoo.com/iw/070702/0273049.html
http://en.wikipedia.org/wiki/Second_generation_biofuels
Thanks Salty, just adding to the huge amount of DD already here.
Followed up on NexGen's CEO, J. Ram Ajjarapu. He does not have a biography on NexGen's website, so I located an article from Forbes:
http://www.forbes.com/finance/mktguideapps/personinfo/FromPersonIdPersonTearsheet.jhtml?passedPersonId=1139731
I found that his brother Surendra K. Ajjarapu is President of American Ethanol Biofuels Inc. (AEBF.OB). Both brothers are former owners in Wahoo Ethanol, LLC and Sutton Ethanol, LLC. and both attended and received MBA's at University of South Florida.
http://www.aebiofuels.com/management.php
Information obtain from AE Biofuels 8-K dated 12/13/2007:
"Suren and Ram Ajjarapu, former owners of Wahoo and Sutton, sold their interests in these companies to American in February 2006 and they became officers of American Ethanol. Both became significant founding shareholders of American, each owning 8.1 million shares of Common stock. On February 23, 2007 Ram Ajjarapu sold his interest in the Company to Siva Limited in accordance with agreements wherein E85 and Siva Limited purchased the Wahoo LLC and a one half interest in the Sutton LLC and American and Mr. Ajjarapu settled a legal action between the parties and Geneva Capital."
An even more interesting read on this 8-K involves a reverse merger of AE Biofuels Inc. into Marwich II, Ltd.
"On December 7, 2007, we completed the Reincorporation and the Reverse Merger and issued to the former shareholders of American Ethanol 84,114,998 shares of our common stock in exchange for all of the outstanding shares of American Ethanol common stock and 6,487,491 shares of our Series B Preferred Stock in exchange for all of the issued and outstanding shares of American Ethanol Series B Preferred Stock. As a result, American Ethanol became our wholly-owned subsidiary and the former stockholders of American Ethanol became the controlling stockholders of the Company. On December 7, 2007, we amended our Articles of Incorporation to change our name from Marwich II, Ltd. to AE Biofuels, Inc."
http://www.secinfo.com/d12TC3.u21nj.htm
Looks like I'm done looking into NexGen and related companies.
(jmo)
Interesting observation. I'm not sure if anything that happens with BLDV or NXGNF can be coincidental at this point.
For me, there are two recent developments at NXGNF; the 34M shares moved from a Belize entity to a U.S. entity with the NexGen CEO's wife as beneficiary of the shares. And, NexGen recently sold off the Biotechnology & Medical Devices portion of the business to Gamida for life B.V.
Thanks for the link that clears it up. So Aruna's RACA Partnership & ICP, LLC are based in Florida as is NexGen Biofuels Inc.
Thanks for your postings and others that post here with good information. I'm learning a few things as this situation developes.
Mike, I've been looking at the Schedule 13D today.
MAC Biofventures Inc. is a Belize Corporation with the sole stockholder & sole director as Aruna Raj Ajjarapu (wife of NexGen CEO).
RACA is a Florida Investors limited Partnership with a general partner of International Capital Partners, LLC. Aruna is listed as sole member of ICP, LLC. The limited information that I have on ICP, LLC is that it may be a limited liability company organized under the laws of Delaware. Please note: Delaware's corporation law is written to protect the rights of shareholders of the public corporations.
J. Ram Ajjarapu is CEO of NexGen Biofuels Ltd. base in Florida. He disclaims beneficial ownership of the shares owned by his spouse, Aruna, who is manager of the two holding companies, MAC & RACA.
The purpose of the transaction effective 03/24/2008 is for MAC to distribute 33,151,242 shares to Aruna as a dividend and Aruna contributed the shares to RACA in exchange for a 99% limited partnership interest in RACA (with general partner, ICP, LLC).
Here's my take on this transaction; most or some of it may be true. I believe the schedule 13D was performed to transfer the common shares from MAC, a Belize Corporation, which may not be protected by U.S. Law in any future business transactions. By transferring the shares to RACA, a Florida Company with a general partner, ICP, LLC (which may be organized under Delaware law) it appears that said shares will be protected.
Is this the prelude to the reverse merger? Possibly.
Link for information on mergers:
http://www.ukincorp.co.uk/s-9E-public-companies-formation-america.html
(jmo)
I have considered your "owned by a minority" point regarding a possible connection between Mr. Moaning and big oil.
I understand that local, state and federal government will always consider economic programs to help minority business interest. I think that many major corporations are cognizant of problems that can develop in the communities where they do business. These large corporations have diversity programs for employees within their companies. They also have small company programs in their business agenda.
So I wondered why would Chevron reach out to this small minority owned company (BLDV) based in Texas?
In 1997, it appears that Chevron had an environmental pollution problem with the black community regarding abandoned oil pits in the Kennedy Heights neighborhood of Houston. This problem was inherited by Chevron after they acquired Gulf Oil.
http://query.nytimes.com/gst/fullpage.html?res=9C04EEDA1E30F934A3575AC0A961958260
http://www.chevron.com/productsservices/supplierdiversity/
At this point, I believe it is possible to consider a probable connection between Chevron & BLDV.
Just below the overview section under "General", it appears that Nexgen sold off the Biotechnology & Medical Devices and assets in this field to Gamida for Life B.V. It also indicates here the plan was treated as a reverse merger of the Company for financial accounting purposes (?).
GENERAL
In accordance with that the Purchase Agreement, on December 31, 2007, the
Company completed the Plan pursuant to which the Company transferred
substantially all of its existing business and assets in the field of
biotechnology and medical devices to Gamida For Life B.V. and acquired NexGen
Bio's principal assets in the field of ethanol and bio-diesel fuel production.
The Plan was treated as a reverse merger of the Company for financial accounting
purposes. Accordingly, the historical financial statements of the Company before
the Plan will be replaced with the historical financial statements of NexGen Bio
before the Plan in all future filings that the Company makes with the SEC,
including this Report.
Link: http://www.gamidaforlife.com/
Thanks for the suggestion to read the 03/26 news. I've just recently looked into this company and still trying to figure out a few things.
I went over statements in the article regarding having made offers to three biodiesel plants in the United States and that soybean prices having halted a number of plants in the U.S. It mentions the higher production costs associated with soybean oil.
There's also the statement, " We have known all along that controlling our feedstock production would be the key to our profitability and sustainability. For this reason, we have worked tirelessly to establish ourselves in Belize and to implement cooperative agreements." Therefore, it makes sense to me that BLDV could be buying a closed biodiesel plant in Oklahoma.
Here's just one possibility in this bankrupt company where the money owed appears to be low:
http://newsok.com/article/3166812/1194577536
http://www.biodieselmagazine.com/article.jsp?article_id=1978
Barron's article: Hard Times for Medical-Equipment Stocks
Interesting read concerning hospitals reluctance to sign off on big ticket medical equipment. This looks good for Imaging3 based on the Dominion's lower pricing. Now, if we could only get that FDA clearance.
http://www.marketwatch.com/news/story/hard-times-medical-equipment-stocks/story.aspx?guid=%7BE680350E-55D3-47CF-B58B-6C5F48CE2AD4%7D
Dean, I'm sure you've probably given this idea some thought and this appears as a possibility in coming years. Is's my understanding that the Dominion's 3D in real-time imaging is produced on a flat panel screen (I think 2D construct?).
In the future, can your real-time 3D images be produced in a 3D virtual construct (hologram) as indicated in this article from BMW? With an interactive touch-screen Doctors would be able to manipulate the hologram to view various angles. It may be out there, but just an idea.
http://www.theautochannel.com/news/2008/04/28/085386.html
I agree with the description having people lined up prior to FDA approval. It would seem that if I were the buyer for any hospital there should be no problem placing 25% - 30% deposit on that order.
The other item that I was considering is that of the NDA's. I wanted to get an idea of what's involved so I check for the actual definition. I like the 2nd paragraph of this Wikipedia answer:
"A non-disclosure agreement (NDA) (often known outside of the United States as a confidentiality agreement; occasionally called a confidential disclosure agreement or CDA, or secrecy agreement), is a legal contract between at least two parties that outlines confidential materials or knowledge the parties wish to share with one another for certain purposes, but wish to restrict from generalized use. In other words, it is a contract through which the parties agree not to disclose information covered by the agreement. An NDA creates a confidential relationship between the parties to protect any type of trade secret. As such, an NDA can protect non-public business information.
NDAs are commonly signed when two companies or individuals are considering doing business and need to understand the processes used in each others business solely for the purpose of evaluating the potential business relationship. NDAs can be "mutual", meaning both parties are restricted in their use of the materials provided, or they can only restrict a single party."
The link also has a "Vote" button. One can vote this week for the Dominion for the "Technology of the Week Award".
The main page will have a small section dedicated to the weekly winner.
Ed, the competition comes closer between the major CT makers.
Earlier, I came across an imaging article that included the Toshiba Aquilion One CT along with 3 others from GE, Philips & Siemens. None of these CT’s has real-time 3D imaging. I posted a couple of questions to Dean about these 4 CT scanners (#1692). Check out the link on the 4 CT's:
http://www.healthimaging.com/content/view/9225/68/
Toshiba's website shows good photos of the Aquilion One CT that weren't included in the article. The products page has some very nice images. However, this scanner is huge as compared to the people in the photo. Also, I believe Dean mentioned these newer scanners use some serious computing to get the speed, less radiation and high definition images, which means this machine is costly.
I’m going to keep reading between the lines…
I’m definitely linking any recent statements or inferences regarding the FDA’s approval to distribute under IDE. The FDA appears to have no problem with radiation levels or else there would probably be no Investigational Device Exemption (IDE). It’s my understanding that the IDE was expected. This leads me to believe Dean & Company have been working behind the scenes with this in mind.
The FDA’s Center for Devices and Radiological Health (CDRH) spent 9 months evaluating the Dominion before classifying it an IDE and handing it off to the Office of Device Evaluation (ODE). It looks to me that the ODE is the investigative liaison between the CDRH and the device sponsor. Under the IDE, the additional information and documentation that is needed can be freely discussed and exchanged, respectively. This IDE procedure appears to shorten the approval time. In an open dialogue format with the ODE, Dean will know exactly what information is needed by the FDA; probably certain images and radiation data in various real life settings.
There is no substantial equivalent to a predicate device regarding the Dominion. There are many other diagnostic devices that come close, but not entirely. I sense that the FDA needs to establish precise documentation in a real life setting with respect to the main feature of the Dominion, which is the Real-Time 3D Imaging.
My original apprehension regarding IDE revolved around my perceptions of a process that probably resembles the FDA’s Investigational New Drug (IND). I am now viewing the IDE with a shorter time span regarding additional images and radiological data versus the extensive studies related to IND.
Any comments or corrections are welcomed.
In the meantime, I’m going to keep reading between the lines…
Link for FDA - CDRH: Guidance on IDE Policies and Procedures.
http://www.fda.gov/cdrh/ode/idepolcy.html
Lots of information here regarding the process. I took a good look at the area of 'Interactive IDE Review'. It appears to me that this process involves a continuous contact with the Office of Device Evaluation (ODE), "rather than only at the completion of the review, deficient information can be addressed within fewer review cycles."
If I'm reading this right, I think this stock is way under valued! This interactive process appears to be a big advantage to Dean & Company towards getting the Dominion to market, sooner rather than later... (jmo)
Thanks for your insight, which is very much appreciated.
Thanks for your description of the IDE.
I'm wondering if Dean is able to offer some insight on this recent development?
One question that I have pertains to the progress that was made towards satisfying the FDA during their 9 month evaluation? Are they 80% to 90% satisfied? How much additional documentation is needed to completely satisfy the FDA, and the time factor involved?
Can the I3 team, along with the IDE studies, provide this data regarding "clinical imagery and functionality" to the IDE investigator in an expedited manner? Also, how many IDE sites will be involved and does I3 have Dominions available for the submission of this additional documentation to the FDA?
I'm long IMGG and have complete confidence in Dean & Company. However, I think it's good for everyone to have a better understanding in this uncharted terrority.
Thanks,
I came across a newer high tech website called 'Jump into Tomorrow'. I don't believe anyone's mentioned it before, but it covers various categories with breakthrough technologies.
I clicked on the Health/Medical page and found the Dominion listed as "Best in Class". You can click on the photo of the Dominion for the nice write-up...
http://jumpintotomorrow.com/template/listing.php?category=13
Congratulations to the Imaging3 Team and every company that contributed in the completion of the Dominion VI Scanner towards this FDA Approval to Distribute. We now have great expectations for full FDA Clearance. GLTA
BTW, vtwebb's got my vote for "IMGG Fan of the Month" award.
You may want to take another look at the postings here from 1604 to 1606 and 1454 to 1457 regarding the correlation between the Dominion and CT.
It doesn't seem that the Dominion will replace CT, but it will make a big dent in the imaging device space.
Hawkeyes, I have just one thought at the moment...
which has to do with this guy's statement, "I saw the demonstration images provided by the company at their booth at the recent Red Chip conference in Scottsdale. The imaging of bone might be useful in the ER or OR. Imaging of soft tissue, requiring greater sensitivity of the imager, was almost non-existent. Given what they showed me, there is no way this will come close to replacing CT."
Apparently, he is attempting to equate actual CT images with some "demonstration images" provided at the Red Chip. I'm sure Dean did not have the Dominion plugged in at the Red Chip. So I'm thinking any images available to him would've been simulated and should not be used for comparisons with actual CT images.
Chevyman, the last paragraph of the 8k of 02/04/2008 states:
"The shareholders of the Company will experience dilution as a result of the arrangement, up to 20 million additional shares of the Company's common stock. Mr. Janes will have the same number of shares of common stock in the Company as he had before the arrangement, but will be diluted to the extent that up to an additional 20 million shares of the Company's common stock are issued and outstanding as a result of the private placement. There is no assurance as to the amount or timing of any sales or purchases of shares that may be made under the arrangement, if any."
My perception was that it would be a gradual dilution in order to minimize the effects of applying 20M shares at once. I also thought that if FDA clearance were to come sooner, a rise in pps would benefit I3 by Dean selling shares at a higher rate, thus, more working capital. (?)