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i only know a little bit of french..
my heritage is french canadian, but really, I am just an american mutt...
French
Irish
English
German
and i married a...
Portuguese
Italian
woman...
which leave my child in a whole heap of a mess....lol
i know i know....
hey...good luck couch. the fact that this DID NOT TRADE is ok in my book. at least you don't have a mass exodus from the stock once the suspension ended. But, IMO, don't give anyone a chance to leave by NOT BUYING!!!! trades have to be matched.
so, let Larry work..doing....whatever he does...and perhaps this will be ironed out later....my opinion of course.
Dan
Thank you for posting this.
This point is what i was trying to say to my friend in my previous post. Bears are in control now, but I don't think it can continue for too long if the Fundamentals are in order.
Good luck
Dan
EDIT: Optionable, Inc
penny, sorry i am just catching up with your posts.
I will tell you that this tactic has been tried and tried. i promise you that it does not work. i repeat, it does not work. there are always shares available and a retail entry of GTC at 50 bucks will not do anything but keep you from making decisions about your investment. Do not try to trick or catch shorts because it does not work.
Now, i don't know ANYTHING about -OPBL-, but i do know about the message board tactics that everyone tries that do not work. i promise you.
now, lets look at a chart>>>>>
You see, the MACD has turned down under zero, but it is a healthy MACD line when indicates that it should follow its pattern and turn up in the coming weeks. Also, you can see that the Money Flow line is in the negative currently, which suggests to me, that you caught it when many were buying, and now that enough buys occured, and many want to sell for profit, they did. So, there are currently more sells than buys.
Just looking at the chart, and NOT trying to follow the storyline, the stock looks healthy, and just seems to be trading normally.....again, I do not know the story, and for your sake, being a friend of mine, I will try to understand what the company is all about and see if any Red Flags stand out. But again, chart only, doesn't seem fishy.
Understand, you bought it when everyone liked it, now those that liked it before you and those that caught the February rise in PPS are now selling. If this company is a "normal" company, it will rebound again....
EDIT: The fact that this DID close above the 50 day MA (6.25) is a good thing...close price at 6.31. Good luck my friend.
Dan
penny, did you catch the run mid february in...
opbl?
a bit off on that 5 cent PPS?
for the record, i think penny did exactly what he needed to do, but thanks for trying to guilt him for selling.
i think.....
next week will be interesting..
LoL
D
serf..one of my favs...PDC (pioneer drilling)
AP
SEC Settles With Hedge Fund Adviser
Monday March 19, 12:05 pm ET
Hedge Fund Adviser Settles With SEC for $120,000 to End Short-Selling Case
WASHINGTON (AP) -- Former hedge-fund manager Imperium Advisors LLC has agreed to pay almost $120,000 to settle charges that it violated securities rules when it used shares it had bought in three public offerings to cover short sales placed just days earlier.
The Securities and Exchange Commission said Friday that Imperium had bought Pioneer Drilling Co., Premcor Inc. and Houston Exploration Co. stock in 2004 in three separate offerings. Under securities laws, the hedge-fund adviser was restricted from using such stock to cover short sales made five days before the newly issued securities were priced.
Imperium funds made $41,328 through its Pioneer short sales and $33,864 on its Premcor short sales, the SEC said. The agency didn't say whether Imperium had profited on its Houston Exploration trades.
"Hedge-fund advisers must follow the rules concerning short sales, and if they don't, we will take appropriate action," said Bruce Karpati, assistant enforcement director at the SEC's Northeast regional office.
A phone number for Imperium's offices was out of order, and Imperium officers couldn't immediately be located.
Short selling involves selling borrowed shares in the hopes of buying back the securities when prices are lower, pocketing the difference. By engaging in short selling just before the price of new shares is set, an investor is sometimes able to sell at prices higher than what it would later pay for the newly offered shares.
SEC rules ban using stock sold through such public offerings to cover recently placed short sales, in an effort to prevent traders from lowering stock prices. The SEC says that such improper short sales may artificially lower the price for the securities being offered, harming the company offering the shares.
http://biz.yahoo.com/ap/070319/sec_hedge_fund.html?.v=1
lol...ok....
technicalities.....
i was just trying to find out what your definition of "is" is.(thanks mr. clinton)
lol...
take care, lets see what today brings.
Dan-Dan
tell larry to contact these people..lol
and can we stop saying that larry has to file form 211...it is the company's MARKET MAKER that has to file the form....geez....
http://www.goingpublicnow.com/15c211.html
Rule 15c2-11
Rule 15c-211 was designed to allow non-reporting public company's securities to be quoted on the National Association of Securities Dealers' ("NASD") Over-the-Counter Bulletin Board ("OTCBB") by filing some simple disclosures.
Now, companies seeking to obtain a quote on the NASD OTCBB must be required to file reports with the Securities and Exchange Commission ("SEC"). Under Section 15 of the Securities Exchange Act of 1934 (the "Act"), as amended, a company who has filed a registered offering with the SEC, such as an SB-1 or SB-2 registration statement is required to file reports for one year. A company which files a Form 10 or Form 10SB (for small business issuers) becomes a reporting company under Section 12g of the Act and must file reports. To be eligible for a quotation of its securities, the company's market maker must file a Form 211 with the NASD, the company must have sufficient free trading stock in its public float to allow Rule 15c2-11.
If you need assistance in having a Form 211 filed with the NASD so that your company can trade on the OTCBB, we can help prepare that paperwork and introduce you to a market maker. Contact us for more information.
oh the humanity!...
pop star is back!....
voip baby! all the way..
VOIP?!?!?...oh damn..
i just did not want to hear that again....
well, as long as we can grow our VOIP presence in CUBA....
Dan..Dan..
you know...like John John...
its all the rave...
try it!..
lol
i must have had a twitch....
here is a response i gave to someone about...
the smallcapengine piece...
(excerpt only)...and for my comment on hank, i think he can defend himself. Plus, it was more humorous than anything. if people have thin skin, i cannot help it.
They guy was a nervous wreck, and was sweating profusely!
man that day was funny.
Dan
you guys ever see my first few posts and responses?
on the CKYS board...i find them funny...should have been a red flag for me...lol
```````````````````````````````````````````````````````````
FIRST POST..
Posted by: CheezyTang
In reply to: madmax6 who wrote msg# 27942 Date:12/11/2006 7:54:25 PM
Post #27950 of 74837
mad.....
i cannot stop looking; now you have me googling "alba" images...
by the way, on my way to alba pics earlier, i bought 100K CKYS.....
lol
---------------------------------------------------------------
RESPONSE
Posted by: madmax6
In reply to: CheezyTang who wrote msg# 27950 Date: 12/11/2006 8:02:54 PM
Post #
lmfao...tell me about it, she's an addiction...
---------------------------------------------------------------
Second Post.. ok, i might have been wrong about the "great" part..lol
Posted by: CheezyTang
In reply to: seabiscuit who wrote msg# 32511 Date:12/20/2006 12:59:34 PM
Post #32583 of 74837
you have to admit....
the smallcapengine piece was great.....but
hank zemla needs some work....lol
---------------------------------------------------------------
Response
Posted by: scemotion
In reply to: CheezyTang who wrote msg# 32583 Date: 12/20/2006 1:33:38 PM
Post # 32607
Curious why Hank Zemla needs some work? I am Hank Zemla.lol
another response
Posted by: RedCloud
In reply to: CheezyTang who wrote msg# 32583 Date: 12/20/2006 2:05:23 PM
Post #
Kind of like your posting style, cheesy alias, and broken links? I just spoke with Hank this morning and he is good for very good for CyberKey from the impression I received from a one-on-one discussion with him. People who live in glass houses, should cast stones.
RedCloud
rebuttal to redcloud
Posted by: CheezyTang
In reply to: RedCloud who wrote msg# 32639 Date: 12/20/2006 2:39:19 PM
Post #
lol...great one...
and thanks for the tip on the broken links.....geocities is a horrible site.
and my cheesy alias....thanks, glad you like it.
posting style? what does that have to do anything? is yours better? lol.... you are a regular JD Salinger!
finally, go ckys! holding long currently.
good luck
personally....if i owned stock..
i would hope there would be no one trying to buy here, so there would be no sellers!
if you just hang tight and let the company do work to get this going again, this may be fine. just if the retailers don't try anything crazy and just sit and wait for the action, others, like insiders and other connected traders will have to act if they are holding stock. i bet you there are traders right now hoping that a retailer tries to buy, "to get cheapies". man...don't do anything crazy and DON"T PUT ON THE HERO SUIT and try to get the ball rolling. LET THE COMPANY DO THAT!!!!
Make the damn company at its CEO work!..and don't try to prop it up with buys! you will only damage your own position here in the greys.....it is too early to do anything at this time...
ALL in MY OPINION..
Dan
Dan
Foxwoods, MGM Grand to join in casino ventures
By Bruce Mohl, Globe Staff | April 26, 2006
http://www.boston.com/business/articles/2006/04/26/foxwoods_mgm_grand_to_join_in_casino_ventures/
Two of the biggest names in the casino business -- Foxwoods and MGM Grand -- joined forces yesterday to develop gambling ventures around the globe and market a $700 million hotel-casino complex under construction in Connecticut.
Sign up for: Globe Headlines e-mail | Breaking News Alerts The deal gives Las Vegas's MGM Grand access to the Northeast market and Indian gaming, and provides an experienced partner for the Mashantucket Pequot tribe as it tries to diversify its operations in the face of rising competition here in New England.
Under terms released yesterday, the Pequots will license the MGM Grand name for the new resort the tribe is building adjacent to its existing facility in Connecticut. The complex, expected to feature a hotel, casino, 5,000-seat concert theater, spa, and nightclubs, is expected to open in 2008 and be operated by the tribe.
MGM Grand and Foxwoods also said they expect to jointly develop gaming and nongaming operations and share data for marketing purposes on the millions of gamblers who visit their respective properties. MGM Grand said it would provide a loan of up to $200 million to finance the gambling projects.
Richard McGowan, associate professor at the Carroll School of Management at Boston College, said the deal is a reflection of the rapidly consolidating gambling business.
''It's exactly like the airlines forming alliances. You've got to build alliances to get customers to come to your casinos," McGowan said.
McGowan said Foxwoods already faces intense competition from the Mohegan Sun casino in Connecticut and may face a powerful new rival if Harrah's, the nation's leading casino operator, succeeds in winning approval for a casino it is trying to build in Rhode Island with the Narragansett Indian Tribe.
The Massachusetts House earlier this month rejected a bill to allow 2,000 slot machines at the state's dog and horse tracks.
McGowan said MGM Grand, the number two casino operator in the United States, traditionally has built and operated its own properties, but is starting to realize that it needs to partner with other players if it is to bring new gamblers to its casinos.
MGM Grand operates 23 casinos in Nevada, Mississippi, and Michigan, and has investments in three properties in Nevada, New Jersey, and Illinois. Its casinos include the Bellagio, the MGM Grand, and the Mirage in Las Vegas.
William Sherlock, chief executive at Foxwoods, said MGM Grand and Foxwoods would both have a first right of refusal to partner 50-50 on any development project moving forward.
Sherlock said the development arm of Foxwoods currently has an agreement in principle to demolish a casino operated by an Indian tribe in California and build a new facility. He said MGM Grand would be invited to participate in that venture.
MGM Grand in its annual report has said Indian casinos in California have had a negative impact on the company's casinos in Reno and Laughlin, Nev.
Foxwoods is also applying for a license to operate slot machines in the Philadelphia area and has a preliminary agreement to launch a non-Indian gambling operation somewhere in the southern United States, Sherlock said. The Mashantucket Pequot tribe also owns land in the US Virgin Islands that could possibly be developed for gambling, he said.
Sherlock said the Pequot tribe was looking to partner with a private casino operator to help expand its nongambling revenues. He said MGM Grand's expertise in booking entertainers and conventions should be especially useful as Foxwoods expands to cater to those markets.
Currently, Foxwoods generates 78 percent of its revenue from gambling and 22 percent from other activities, Sherlock said. He said the tribe would like to move toward a more balanced split between its operations.
''They don't want to put all their eggs in one casino in one location," said BC's McGowan.
Mitchell G. Etess, the chief executive of Mohegan Sun, declined to comment on his competitor's moves. ''Certainly this is an interesting development, and it pays tribute to the strength of this gaming market," he said.
The Associated Press reported that Connecticut officials have asked the Pequot tribe for more information on the deal with MGM Grand.
The state's gaming compact with the tribe requires the state to sign off on any casino expansion, Attorney General Richard Blumenthal said.
''The nature of their business relationship is a mystery," Blumenthal said. ''They have given us no details nor have they given details to any state agency, including the Department of Revenue Services."
i was going to mention that i have seen that symbol before...i just cannot remember where...
it happens every day...eom
max...just listened to the segment...
good job....
ya...that tourney was great!...i won 4.50.!
lost it in a sit and go though...quickly.
no...i meant...
DO NOT BUY MORE until you get some sort of information....otherwise, you may be buying worthless stock.
if you have shares, then hold..if it comes out clean, your shares will be safe, if it goes under, you didnt lose more money trying to catch a falling knife....imo
i would write MATT...eom
yep...it all depends on...
the interest people had in the security before the suspensions. for instance...the ckys trading immediately occured because there were many, many people that were interested in that stock and thought there was a great opportunity to buy cheapies after the suspension, no knowing that there were many, many "insiders" that were given shares by the company for payment to "spread the word", that apparently knew the hammer was going to drop...and sold into retailers' buys. it was bad...very bad......
IMO, the best thing to do is NOT BUY, but hold and just chill until the smoke clears....of course,,,,unless you NEED THE MONEY you have invested, then try to sell ASAP....all in my opinion..
RIGHTY..CURRENTLY
Pinksheets shows EQBM as an "Other OTC" stock.....ie..grey sheets.. the form has not been filed according to PinkSheets, and the stock is not currently suspended, according to the pinksheets website....
Larry is not the one that needs...
to fill out THAT form....by the way...it is the Form 211. MARKET MAKERS have to review the company's files, business practices, etc...whatever information that will convince them that taking a risk to make a market in the security is acceptable. It is ALL on Larry CONVINCING market makers to make the market for HIS company's stock. And for him to do that, he either has to have friends in high places that will do him a solid, or produce the relevant information to provide a level of comfort in making the market....
good luck.
we ar back now....off suspension...
at 11:59PM LAST NIGHT.
i use both ameritrade and scott...
both can trade, but you have to call in the order....
that is the story they tell me...
maybe some securities on the greys can be electronically entered via internet?
it may not sit well with them...
but i am betting that it will not drive many away either.
i want to hear you tell the story!
cannot wait to hear you tell it like it is....
good job max.....i will watch it on the website...
you the man
lol..yep...
that was stupid not to verify first....but sometimes i like something i see and go for it. if things check out, i will most likely double the postition....
ckys was impulse for me....i loved it....kind of how i was with EQBM.......i loved it....
ol skolnik.....lol
well, i fully admit now that i am just not cut out for the pinks! i don't have the time to verify everything....let alone the easy things like govt contracts!
has anyone seen my shares of microsoft or GE?
lol
yep..i think i am going to settle for 10-20% gains on those, or a small divvy on them...if i luck out. lol
Dan
EDIT: ya....i was in...
then out after about 3 weeks...maybe a whole month....i will have to check.
anyway....i got in on my "over night" scan, and reviewed all PR's and company files....and products.....
so i bought in...
then came the VERIFY part.((EDIT: I WILL REMEMBER TO VERIFY FIRST NEXT TIME!!!)) I could not find any place where I could find a contract. I could not get a call back from the Department of Homeland Security.....
then the price was dropping and i bailed....i could not verify anything....
well, although i bailed before the suspension, i was still very interested and excited about CKYS, but i just could not continue to hold....but i watched.
after seeing some of the good information on the "FACT-N-FICTION" board (which by the way, was created originally to be able to post real DD about CKYS because the mods were deleting every alternative post to theirs), i knew I made a good decision to sell..then 2 weeks later, the suspension hit.
and that was the story.
Dan
righty...i can tell you...
have experience with the grey matter.....that is good...
As for the ..don't panic....right...
there is no reason to panic. The last suspension i witnessed was tke Jim Plant fiasco....we all said, "if the company is legit, we will be ok....if it is not, we are screwed."
well, the company was not legit in their claim of 25 mill from the dept. of homeland security, and the damn thing sank from .02 down to .0001 (cellar baby!)..lol. That is what can happen with a POS company run by a POS CEO...
NOW is this the case here? i don't think we will know. what does your DD tell you? Well, we will know if the SEC and FBI brings charges against ol'Lehat!.....but he never claimed a multi million dollar contract with a US gov't agency!...lol
so, my feeling is that if you don't panic, and you do what is in the best interest of you and your family, you will be ok.
A friend of mine lost his whole savings on CKYS over that lying f-ck of a CEO....i am sick to my stomach over that!...but that case, Mr. Plant was a scumbag....AND THAT IS A FACT.
so, bottom line....don't panic and watch closely....do what is right for you and your family....
Dan......
I am pulling for you all in the coming weeks.....GL!
wow that is an ugly image...
you just painted..and i am not talking about your signature...
nice first post lefty...
and great first board to visit.
Where's the PR?
Fourth Quarter Earnings
Press Release Source: Hydrogenics Corporation
Hydrogenics Reports Fourth Quarter and Fiscal 2006 Results
Wednesday March 21, 6:30 am ET
Revenues of $9.5 million for the fourth quarter and $30.1 million for the fiscal year; $9.6 million of orders awarded in the fourth quarter
MISSISSAUGA, ONTARIO--(MARKET WIRE)--Mar 21, 2007 -- Hydrogenics Corporation (Toronto:HYG.TO - News)(NasdaqGM:HYGS - News), a leading developer and manufacturer of hydrogen and fuel cell products, is reporting fourth quarter and fiscal 2006 results. Results are reported in U.S. dollars and are prepared in accordance with Canadian generally accepted accounting principles.
ADVERTISEMENT
"Our year came to a close with positive signs, including the resumption of OnSite Generation deliveries following the production delays reported earlier in 2006," said Daryl Wilson, President and Chief Executive Officer. "Unfortunately, these production delays, caused by supply chain and component quality issues in this business unit, adversely impacted our results for the year."
"We plan to be a leader amongst our peers, bringing passion, focus and discipline to our business. Today we announce a streamlining of our organization and our plans for the company. With disciplined execution, we commit to deliver meaningfully improved financial performance. Our goal is to reduce our cash consumption by at least one third on an annualized basis. We will differentiate ourselves by delivering hydrogen products to world class customers at margin," added Wilson.
The Corporation has commenced a restructuring and streamlining of its operations to reduce its overall cost structure, the majority of which is anticipated to be effected by March 31, 2007. A significant component of this restructuring and streamlining involves the workforce reduction of approximately 50 full-time equivalent positions across all business units. In order to effect this workforce reduction, the Corporation will incur a one-time pre-tax charge of approximately $2.1 million primarily in the three months ended March 31, 2007. These workforce reductions, once completed, represent approximately $4.0 million of annualized cost savings.
Results for the fourth quarter of 2006 compared to the fourth quarter of 2005
Revenues were $9.5 million, a 4% increase over the fourth quarter of 2005. Gross profit, expressed as a percentage of revenues, was negative 1% (negative 4% in 2005) and reflects higher margin deliveries in our Power Systems business unit offset by lower revenues and gross margin in our OnSite Generation business unit. Within the OnSite Generation business unit, we accrued $1.6 million of production and inventory obsolescence reserves.
Cash operating costs, a non-GAAP measure, defined as selling, general and administrative, and research and product development expenses less stock-based compensation expenses, were $10.8 million, a 64% increase reflecting costs relating to Sarbanes-Oxley Act compliance, severance costs and higher research and product development, net of third party funding.
Net loss was $22.1 million compared to $9.1 million in 2005, an increase of $13.0 million, of which $10.9 million is attributed to an impairment of intangible assets and goodwill relating to our OnSite Generation business unit recognized in the fourth quarter of 2006.
Results for the fourth quarter of 2006 compared to the third quarter of 2006
Revenues were $9.5 million, a 6% increase attributable to the phased resumption of deliveries in our OnSite Generation business and a sequential increase in revenues in both our Power Systems and Test Systems business units. Gross profit, expressed as a percentage of revenues, was negative 1% (positive 6% in the third quarter of 2006) reflecting $1.6 million of production related charges incurred in the OnSite Generation business unit in the fourth quarter as noted above.
Cash operating costs were $10.8 million, an increase of 13% primarily related to increased research and product development, net of third party funding.
Net loss was $22.1 million, a decrease of 76%.
Results for 2006 compared to 2005
Revenues were $30.1 million, a 19% decrease, due primarily to production delays in our OnSite Generation group. Gross profit, expressed as a percentage of revenues, was 2%, a decrease from 9%.
Cash operating costs were $35.5 million, a 15% increase due to consulting costs related to business strategy matters, Sarbanes-Oxley Act compliance, severance, deferred compensation costs and increased research and product development costs.
Net loss was $130.8 million, an increase of $93.4 million, primarily as a result of $90.8 million of impairment charges relating to intangible assets and goodwill.
Liquidity
Cash and cash equivalents and short-term investments were $60.3 million as at December 31, 2006. The $6.3 million sequential quarterly decrease in cash and cash equivalents and short-term investments is attributable to: (i) $5.8 million net cash outflows from operations; (ii) $0.4 million of capital expenditures; and (iii) $0.1 million of other items.
Cash and cash equivalents and short-term investments decreased $25.5 million in 2006 and were attributable to: (i) $24.5 million net cash outflows from operations; (ii) $1.7 million of capital expenditures; partially offset by (iii) $0.7 million of other items.
Order backlog
Order backlog as at December 31, 2006 was $29.4 million, as follows (in $ millions):
Q3 Orders Orders Q4
Backlog Received Delivered Backlog
------------------------------------------------------------------
------------------------------------------------------------------
OnSite Generation $ 14.8 $ 3.4 $ 3.1 $ 15.1
Power Systems 8.9 2.3 2.9 8.3
Test Systems 5.7 3.9 3.5 6.1
------------------------------------------------------------------
Total $ 29.4 $ 9.6 $ 9.5 $ 29.5
------------------------------------------------------------------
------------------------------------------------------------------
We expect to deliver, and recognize as revenue in 2007 approximately three quarters of our total order backlog.
Fourth Quarter Highlights
Progress on markets:
OnSite Generation
- Delivered four hydrogen generation units for industrial applications
- Selected to provide a hydrogen fueling station for an urban demonstration in Brazil of fuel cell-powered transit buses, the first hydrogen fuel cell demonstration in South America
- Secured $3.4 million of new orders and exited the year with a $15.1 million order backlog
Power Systems
- Delivered seven fuel cell power modules (totaling 284 kW)
- Signed first distribution agreement for HyPX Power Pack products for forklift trucks with LiftOne (South Carolina)
- Signed distribution agreement with Heliocentris Fuel Cells AG for power module sales to education, scientific and demonstration markets
- Designated as fuel cell system supplier for two consortia-led bus projects selected to receive United States Federal Transit Administration (FTA) awards
- Received approved supplier status from Western States Contracting Alliance for fuel cell (backup) power systems in the 5- 30 kW power range
- Secured $2.3 million of new orders and exited the year with an $8.3 million order backlog
Test Systems
- Delivered 15 test stations including new direct methanol fuel cell test stations
- Delivered 40% of test stations to new customers, largely in Europe
- Secured $3.9 million of new orders and exited the year with a $6.0 million order backlog
Progress on products and technology:
- Released next generation HyPM products including zero-humidification HyPM XR module for backup power (optimized for reliability and cost reduction) and HyPM HD module for mobility power (optimized for durability/reliability and compactness)
- Commenced assembly of IMET Series 4000 alpha prototype electrolyzer which will represent a significant scale-up in our capacity range
Conference Call Details
Hydrogenics will hold a conference call to review results on March 21, 2007 at 10:30 a.m. (EDT). To participate in this conference call, please dial 416-695-9706 approximately ten minutes before the call. Alternatively, a live webcast of the conference call will be available on the company website at www.hydrogenics.com. Please visit the website at least ten minutes early to register and download any necessary software. Should you be unable to participate, a replay will be available on our website for two weeks.
About Hydrogenics
Hydrogenics Corporation (www.hydrogenics.com) is a globally recognized developer and provider of hydrogen generation and fuel cell products and services, serving the growing industrial and clean energy markets of today and tomorrow. Based in Mississauga, Ontario, Canada, Hydrogenics has operations in North America, Europe and Asia.
Caution Regarding Forward-Looking Statements
This release contains forward-looking statements within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Law of 1995. These statements are based on management's current expectations and actual results may differ from these forward-looking statements due to numerous factors, including changes in the competitive environment adversely affecting the products, markets, revenues or margins of Hydrogenics' business. Readers should not place undue reliance on Hydrogenics' forward-looking statements. Investors are encouraged to review the section captioned "Risk Factors" in Hydrogenics' regulatory filings with the Canadian securities regulatory authorities and the United States Securities and Exchange Commission for a more complete discussion of factors that could affect Hydrogenics' future performance. Furthermore, the forward-looking statements contained herein are made as of the date of this release, and Hydrogenics undertakes no obligations to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release. The forward-looking statements contained in this release are expressly qualified by this cautionary statement.
Hydrogenics Corporation
Consolidated Balance Sheets
As at December 31, 2006 and December 31, 2005
(in thousands of U.S. dollars)
(unaudited)
----------------------------------------------------------------------
----------------------------------------------------------------------
2006 2005
ASSETS
Current assets
Cash and cash equivalents $ 5,937 $ 5,394
Short-term investments 54,350 80,396
Accounts receivable 9,740 7,733
Grants receivable 1,901 1,909
Inventories 12,718 8,685
Prepaid expenses 1,539 2,353
----------- ------------
86,185 106,470
Property, plant and equipment 5,435 5,682
Intangible assets 500 33,972
Goodwill 5,025 68,505
Other non-current assets 28 28
----------- ------------
$ 97,173 $ 214,657
----------- ------------
----------- ------------
LIABILITIES
Current liabilities
Accounts payable and accrued liabilities $ 21,380 $ 14,918
Unearned revenue 8,809 3,772
----------- ------------
30,189 18,690
Long-term debt 94 325
Deferred research and development grants 133 135
----------- ------------
30,416 19,150
Shareholders' Equity
Share capital and other equity 321,094 318,804
Deficit (249,033) (118,274)
Foreign currency translation adjustment (5,304) (5,023)
----------- ------------
66,757 195,507
----------- ------------
$ 97,173 $ 214,657
----------- ------------
----------- ------------
Hydrogenics Corporation
Consolidated Statements of Operations
(in thousands of U.S. dollars)
(unaudited)
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Three months ended Twelve months ended
December 31 December 30
2006 2005 2006 2005
--------------------------------------------------
Revenues $ 9,547 $ 9,057 $ 30,059 $ 37,191
Cost of revenues 9,672 9,420 29,360 33,881
--------------------------------------------------
(125) (363) 699 3,310
--------------------------------------------------
Operating expenses
Selling, general and
administrative 7,544 5,276 27,891 24,616
Research and product
development 3,504 1,886 9,379 7,745
Amortization of property,
plant and equipment 358 271 1,285 1,365
Amortization of
intangible assets 785 2,125 7,139 8,429
Impairment of
intangible assets
and goodwill 10,938 - 90,834 -
Integration costs - 14 - 1,123
--------------------------------------------------
23,129 9,572 136,528 43,278
--------------------------------------------------
Loss from operations (23,254) (9,935) (135,829) (39,968)
--------------------------------------------------
Other income (expenses)
Sale of asset 477 - 477 -
Provincial capital tax
expense (recovery) 36 149 (42) (91)
Interest, net 731 1,091 3,551 2,936
Foreign currency gains (222) (555) 904 (251)
--------------------------------------------------
1,022 685 4,890 2,594
--------------------------------------------------
Loss before income taxes (22,232) (9,250) (130,939) (37,374)
Current income tax
expense (recovery) (163) (114) (180) 0
--------------------------------------------------
Net loss for the period $ (22,069) $ (9,136) $ (130,759) $ (37,374)
--------------------------------------------------
--------------------------------------------------
Net loss per share
Basic and diluted $ (0.24) $ (0.10) $ (1.42) $ (0.41)
Shares used in
calculating basic
and diluted net loss
per share 91,916,466 91,679,966 91,816,049 91,226,912
Hydrogenics Corporation
Interim Consolidated Statements of Cash Flows
(in thousands of U.S. dollars)
(unaudited)
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Three months ended Twelve months ended
December 31 December 31
2006 2005 2006 2005
----------------------------------------------
Cash and cash equivalents
provided by (used in)
Operating activities
Net loss for the period $ (22,069) $ (9,136) $ (130,759) $ (37,374)
Items not affecting cash
Amortization of property,
plant and equipment 539 498 1,948 2,267
Amortization of intangible
assets 785 2,125 7,139 8,429
Impairment of intangible
assets and goodwill 10,938 0 90,834 0
Unrealized foreign exchange
(gains) losses 20 193 (74) 210
Imputed interest on
long-term debt 0 2 1 21
Non-cash consulting fees 0 20 39 76
Stock-based compensation 294 469 1,832 2,262
Sale of asset (477) 0 (477) 0
Net change in non-cash
working capital 3,700 873 5,029 (5,012)
----------------------------------------------
(6,270) (4,956) (24,488) (29,121)
----------------------------------------------
Investing activities
Increase (decrease) in
short-term investments (828) 1,166 26,046 9,052
Purchase of property, plant
and equipment (379) (16) (1,701) (333)
Business acquisitions, net
of cash acquired 0 0 - (343)
Sale of asset 477 0 477 0
----------------------------------------------
(730) 1,150 24,822 8,376
----------------------------------------------
Financing activities
Repayment of long-term debt (73) (47) (193) (180)
Deferred research and
development grant (38) (24) (17) (39)
Common shares issued, net of
issuance costs 0 0 419 149
----------------------------------------------
(111) (71) 209 (70)
----------------------------------------------
Increase (decrease) in cash
and cash equivalents
during the period (7,111) (3,877) 543 (20,815)
Cash and cash equivalents -
Beginning of period 13,048 9,271 5,394 26,209
----------------------------------------------
Cash and cash equivalents -
End of period $ 5,937 $ 5,394 $ 5,937 $ 5,394
----------------------------------------------
----------------------------------------------
Contact:
Contacts:
Hydrogenics Corporation
Lawrence E. Davis
Chief Financial Officer
(905) 361-3633
Email: ldavis@hydrogenics.com
Website: http://www.hydrogenics.com
fyi...
Will trading automatically resume after ten days?
It depends on the market where the stock trades. Different rules apply in different markets.
For stocks that trade in the OTC or the over-the-counter market, trading does not automatically resume when a suspension ends. (The OTC market includes the Bulletin Board and the Pink Sheets.) Before trading can resume for OTC stocks, SEC regulations require a broker-dealer to review information about a company before publishing a quote. If a broker-dealer does not have confidence that a company's financial statements are current and accurate, especially in light of the questions raised by the SEC, then a broker-dealer may not publish a quote for the company's stock.
http://www.sec.gov/answers/tradingsuspension.htm
Pennies...yes, this will trade on the grey market..
someone bet another post one thousand dollars that CKYS will not trade on the greys, but the pinks instead, and lost. the trading suspension section of the SEC website clearly states that for OTC and pinksheet stocks, the MM's will need to refile the Form 211 to continue to trade this with proprietary Bid/Ask.....this does not happen in 10 days....
This will absolutely open on the grey market...ie. no market makers which means no Bid Ask.