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There has been absolutely no activity at the Swanton Vermont plant construction site. It looks to be abandoned. I was told by the IR guy that construction would resume in early June. Nope.
New Permit Information can be found at
https://anrweb.vt.gov/ANR/ANR/Act250SearchResults.aspx?Num=6F0633-2
I'll make sure to post some of the contruction photos as they start breaking ground at the Swanton site. I drive by there every day.
Energtek's idea in Vermont is a great idea and continues to move forward. Don't ask me how I know except that I live in the area of the new construction. Energteks business is based on the price of natural gas which is also associated with other petroleum products. If you have been paying attention to the price of a barrel of oil and the national average for a gallon of gas, this might have an impact on all energy related stock prices. When the price of a barrel of oil has stabilized then we should see relatively good gains with this stock as demand based volume increases. Keep in mind that this business will be successful as long as natural gas is the less expensive energy source.
Paragraph 18 does indicate that if a number of changes occur to the structure of the business plan components, ie contemplate residential service, the terms of the memorandum of understanding will have to be revisited. This is no guarantee that it will be unregulated.
Yes, they are not regulated for industrial and commercial, however, the biggest consumer of NG will be residential. When home delivery is planned, I think that it will be regulated because the public service board will recognize that the Energteks special storage tanks can only be filled by Energteks delivery trucks and that constitutes a monopoly and that's what the PSB regulates.
I thought something was up. I drove by the industrial park in Swanton and saw the utility company performing digsafes in the Energtek building lot. Must be construction is about to begin.
It's close !
More news from the Vermont Public Service Board.
http://psb.vermont.gov/sites/psb/files/orders/2014/2014-08/8303%20ORDreMotionToIntervene.pdf
The results of the Vermont public service board hearing on August 4th is at the following link. It just looks like more time to allow for project scrutiny.
http://psb.vermont.gov/sites/psb/files/orders/2014/2014-08/PHCandSchedulinOrder.pdf
The difference is that Energtek was not introducing a new patented method of containing and transporting one of the least expensive and least polluting fuels in an environmentally conscious period in the United States at that time, and now they are.
They could probably use this technology providing that they purchase a license from Energtek to use their patented material and method.
Here's something to keep an eye on,
http://psb.vermont.gov/node/1602
The Swanton industrial park land has passed Vermont's act 250 permitting process and all that Energtek USA is waiting for to get started with construction is their plan approval from the Vermont Public Service Board.
Nasdaq
When it hits .50, I think that you will see EGTK uplisted to the NASDAC, and then there will be numbers to the left of the decimal point.
Here's some interesting reading from the area's local newspaper.
http://www.samessenger.com/swanton-trucks-may-deliver-natural-gas-locally/
This pr seems to say it all.
http://www.otcmarkets.com/stock/EGTK/news?id=80200
It sounds like Energtek is going to provide an alternative fuel source to compete with liquid propane for those residential, commercial, and industrial customers who do not have access to the NG pipeline but could have one of Energtek's patented storage tanks at the customer's location and could be filled by scheduled deliveries like propane is. It should drive the price of propane down with that additional competition.
Vermont environmental rules run very parallel with the epa except when it comes to protecting Lake Champlain. If there is any opposition to the use of the land by Energtek, presently, the clock is ticking down for any petitions generated in opposition and must be submitted to the Town of Swanton by May 8th. I can tell you, first hand, that site testing is underway for the construction preparation. To this point, there does not seem to be a glimmer of opposition to the plan. Swanton and Vermont want the jobs. Anything that is associated with natural gas is accepted with open arms in this area. This industrial park just happens to be located next to a 40 MW dual fuel (diesel/NG) peaking generation facility. There are locations in Vermont that are looked closely by the "tree huggers", but this is not one of them.
Here's where Energtek stands with the land in Swanton.
http://townofswantonvermont.weebly.com/uploads/1/2/0/3/12032471/public_notice_park_d_land_sale.pdf
Good for Energtek and great for Swanton. LP users will have the opportunity to enjoy the lower energy costs of NG and new jobs will be available to area residence. It's win-win
The location is a stone throw away from an NG sub, Interstate, robust electrical distribution infrastructure, and LP customers who will never see an NG pipeline.
Looks like Energtek has signed a letter of intent to purchase 5 industrial park lots in a Northern Vermont Town.
The only bright side is that I'll have a couple of years worth of capital losses that I can show.
Yea, But it's just around the corner!!!! IMO
Now, this makes sense. The pps is now down to 0.0006, I have plenty of Benjamins in my reserve, but TD Ameritrade won't let me place a buy. The forces of nature's got my number!!!!!!!
A Little more on TDA buy restriction.
TD Ameritrade has made the business decision to not allow opening transactions on this security online. While we cannot go into the specific reasons for this restriction, we strongly believe it's in the best interests of our clients and our firm. You can still place closing transactions online and with a broker at the number below. The broker will be able to give you the online rate.
When an issue is designated as DTC chill at DTCC it is not eligible for physical deposit or delivery through the DTC. This restrictions prohibits a clearing firm¿s ability to settle trades once their book entry holdings are depleted.
At this time, there is not a set timeline for if/when the restriction will be removed. However, once the industry wide "DTC Chill" restriction is lifted TD Ameritrade will re-evaluate whether the issue will be allowed to be traded again.
Response from Ameritrade:
Thank you for your inquiry regarding MAMMOTH ENERGY GROUP INC COM (MMTE). TD Ameritrade has chosen not to allow trading of MMTE. We feel this serves the best interests of both our company and our clients.
Per our Terms and Conditions, TD AMERITRADE and TD AMERITRADE Clearing reserve the right to restrict trading in any security for any reason, including but not limited to, bankruptcy, reorganization or any other event.
You may view our Terms and Conditions at the following link:
http://www.tdameritrade.com/termsconditions.html
If there is anything else we can do for you, please reply to this e-mail. Your business is appreciated and we want to make sure we address all of your questions and concerns.
So, it sounds like the key phrase of the buying restriction is "unregistered securities". If and when this is no longer an issue, buying and selling will be unrestricted ?
I've been along for the MMTE ride since 0.0003 pps and have only went into a panic one time at which time, I sold 2M shares and then bought them back when I realized the error of my ways. That panic cost me only $9.99 X 2, whewwwwww close one !
My point is I'm in for the long haul with hopes that when it's time to sell, some other investor will be able to buy without restriction. By the way,
How does a company successfully register it's security, what are the qualifications to do so, and at what point will MMTE become registered ?
I must have been a Baaaaaaad Boy !
I just tried to buy 300K shares of MMTE on TD Ameritrade and this is the message that pops up.
Only closing transactions are being accepted on this security at this time.
What does this mean??
No, I've already figured it out. It's your turn!
I suppose that if you're not here for the long haul and looking to make a quick buck on this stock, you could be in the wrong place.
I don't know how reliable Capital IQ is but......
Mammoth Energy Group, Inc. expected to report Q2 2011 results on August 3, 2011. This event was calculated by Capital IQ (Created on July 28, 2011).
07/28/2011
Compania Lithium Investments Limitada of Chile is owned by Mammoth who is owned by the shareholders.
Line 71 of that complaint really caught my attention.