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Scion, thanks for the continued posts. There was supposed to be a sentencing on Nov 8th for one of the defendants. I think Steinberg? Was curious if you had the results from that sentencing? I think he was the first person to be sentenced according to the past posts.
Scion, great job posting all the updates as they come in. It will be very interesting to see what happens here. Since most of them took the guilty plea, I suspect they were looking at being hit with all the charges and double the time. My guess is they will receive half the time for accepting guilty plea. Keep the posts coming- thanks.
I think this group may get 5-10 years at the minimum. That's why they took the plea deal. They were probably looking at 10+ years otherwise with mounting legal costs. I believe each charge carried 10-20 yrs. I'd have to go back and look at what each charge carried, but I remember seeing these #'s. It's possible they get more than 5 years as we're talking about some serious looking crimes. I wouldn't be surprised to see them get 10yrs and maybe that's why they were trying to battle this until they couldn't anymore as the evidence was probably too overwhelming. A jury would NOT be sympathetic towards these types of behavior. A judge may give them some relief like half of what they were facing. Just guessing as I have no idea what to expect other than what the charges carry. You have to figure they were and are looking at some pretty hefty time either way.
Thanks scion for the updates. It looks like they're all going for guilty plea in hopes of a lighter sentence and/or less attorney fees. I guess they're nailed with no way to get out of it. I wonder how many years they are all looking at? Any guesses?
They DID get revenue from that and it was more of a pilot program. That pilot program was what enabled them to land the $100M Bosnia deal!!!!!There is a GOOD reason why they pulled the trailer from that African site. That deal was profitable and worked to perfection with great success btw. They were forced to abandon the program which had to do with political pressures. That was not a contract, it was a pilot program and egtk learned that doing business in Northern/western Africa may not be for them. It was never part of their plans to set up shop there so no harm done. Those Governments are corrupt and it's not a pleasant place to do business for most companies. Just like that pilot program showcased what egtk's tech can do, the large Bosnia contract will secure these $100M 10yr contracts going forward. The reason why they are in Bosnia is because the Gov't WANTS them there so it is a totally different situation! They have the support there. What's your email?
Well, I have been a shareholder for 3 years. And, like I've said before, the company was set back years when they lost their funding during the financial crisis, credit freeze (great recession or whatever you want to call it). So I know more than anyone that they have taken a while to get these things materialized. It's important to realize that they had to change their plans and work around the financial crisis and they succeeded. Also, they wanted to go after the most efficient and profitable deals instead of other projects that would've been more costly and generally more labor intensive as well as more political issues. That's why I say once the deal goes into operation that's when we are guaranteed a major jump in price and that's when people will start valuing the company on a forward basis. The thing that's different now is the fact that they have started production on the fueling station in Bosnia and have the gas there. They have a bank that is supporting the deal and have purchased equipment/infrastructure. So again, this is a major difference from the past. Of course any investments made in the oil and gas facet is a major development and the stock would react well to it. It just all comes down to $$ and how much they have to work on several deals at once. Eventually, $$ won't matter as much because the company will be generating their own through the deals which will allow them to fuel other deals. All in all, they have moved fairly quickly in Bosnia and that's a plus. Now it's just a waiting game while we wait to see what else they are able to achieve while we wait for Bosnia to go into operation. There are lot's of things going on as we know that can make this move up quickly while we wait. One more thing that is worth noting. There are so many company's/individuals who have tried to make partnerships with this company and they are all trying to take too much! They want to get their hands on this company and get a piece of the action everywhere and it's not right. You give a little and a fair deal and they want more because they see the potential for a gorilla of a company. Just look what's going on this industry. What's your email?
which partner are you referring to? That was the old dimri deal that fell through.
An oil partner is a must considering egtk is not in the oil business. That doesn't mean they won't accept $$ from a non oil partner/company. The important thing is to get some initial backers to push it further to the point where a major player can come right in and start drilling without having to do the prep work etc..I am not an expert in drilling but I'd imagine there will be some things to do before we start drilling.
should be hearing something by end of month in my opinion.
There are so many catalysts that can move this to a buck overnight. Meanwhile, the only thing we can do is be patient while management continues to orchestrate this. I'm not in this to see a dollar/share; I know we can see better than $5.00. And that's NOT just wishful thinking. Bosnia and Croatia alone would place this in the multiple dollars range if they get the deals done there that I think they will. Let's say they have 4 deals (in operation) going on there within the next year. That's going to be $300-$400 Million right there. Now add in the LICENSING fees that they are going to get into in other parts of the world which should happen in the not so distant future. Add in the Israel operations and perhaps the OIL and GAS there which could be Billions (even if it's a 10% find like in my previous post it's still another $400M)!!!!! Now add in the 2-3 wheel vehicle market that some day will be back on the table and now add in the rest of the world projects that will take place- including in America. This is all just the tip of the iceberg...
How the stock trades for a $13M market cap is truly illogical. If this company was coming to market through a major IB nowadays, the market cap would be over a Billion easy. It would be impossible for it not to - even with the same amount of shares outstanding. With unlimited $$ they would be able to bring in Billions.
If the stock is under a buck in a year it would be ridiculous.
Drilling money is coming and so are numerous deals in Balkans. Getting off the pink sheets and back to the NASD BB will happen. News on some drilling $$ coming by the end of the month in my opinion.
If you want to really have fun with the math think about this: EGTK may have up to 26 Million barrels of oil. If you took just 10% of that #, it comes to 2.6 Million barrels. Now figure a Barrel has about 42 gallons (not sure what % of a barrel is actually refined in the end) and multiply by $3.50 (price/gallon in America but is way more in other countries and $4.00/gallon in America is on the way). In this example we'll use $3.50 to be conservative. So we have $3.50 x 42 = 147. 147 X 2.6M (The 2.6 is the 10% of the 26 Million barrels ) = $382,200,000!!!!!!! THAT'S JUST BASED ON 10% OF WHAT IS STATED IN THE U.S. DEPT OF ENERGY'S GEOLOGICAL STUDY! $382 Million at just 10% and at only $3.50/gallon. Double it for 20%, triple it for 30% and so on and so forth...
Multiply by 10 if the the study is 100% accurate and we're at almost $4 Billion.
This doesn't even take into account the gas that is there and that will be used for the Israeli projects. Our own gas...
And, this has nothing to do with the main operations that will have Hundreds of Millions in booked business soon following the first contract that was announced already for $100 Million. Pretty funny that there are actually shares that get sold under a Dollar/share.
The main bank was Caris & Co.. There were several hedge funds also who were coming in. In total about $50 Million in Equity. At that time there were 75M shares total and the market cap was over $150 Million. EGTK had about $400-$500 Million in deals that were waiting to get started and the loss of funding at the time was a major blow. They also had $50M in JV deals. Someone with deep pockets is going to make a bundle here over the next several years. At that time, there was NO oil and gas news either. Well, all that's in the past and were now going to have a major operation in the Balkans as you know. We got the $100M deal and that's just the start and we have the possible oil and gas along with the gas projects eventually in Israel and hopefully OIL! $$$ coming in for OIL and GAS drilling in my opinion. Financing in place for Bosnia deal as you know.
Investor hub and other message boards should have requirements for posting. Some of the people who put messages on boards are ridiculous and you know they have no idea what they are talking about. egtk staff doesn't even take salary! That's how confident they are in the company and most importantly the stock!! As a shareholder, that should be the most comforting news you can get. On a another note, if these posters knew what was good for them, they would NOT look at past financials/reports because they offer no benefit since the main operations are set to begin in October. The time to invest is NOW and the entire financial landscape of the company is going to change going forward. There is absolutely no relevance in past reports since the company is no set to go into commercialization stage. If someone is looking at past reports they are doing more harm then good for themselves. We have potentially hundreds of millions in business coming live starting in October. The company has no debt or very little and a platform to create Billions in revenue over the next 10 years with handsome profit margins. First contract was $100 Million on a 10 year contract. The Balkans present deals like that plenty of times over again. Israel projects is a whole other ball game and then look at the possible oil and gas discoveries in Southern Israel which are estimated to be worth (if the reports are accurate) $2-$4 Billion. Filings won't matter until they have 1 full Quarter of operations from the First contract(s) and outlooks. By that time they will be back on the NASD BB listing. Believe me when I say this, there's possible deals in most parts of this world and that includes the US. Large $$$ will be pouring into the stock shortly as there is absolutely NOTHING priced into this stock. It's rare to find a stock like this and people will begin to see what longs here already understand which is that the party is about to get started and looking at past information when the company was still in development stage is ridiculous. The financial crisis set the company back a couple of years and if you don't understand what happened here then you should really study that. Understand why the stock was trading almost $2.00/share and was considered cheap even at those prices.
All those traders who came in really messed up the stock lately. "Traders" trade stock; they don't own stock as an investment. They messed it up from the beginning. Anyone watching Level II trading at the time can easily see they were trading it. They were buying and selling at like $.171, $.172, $.173 and even taking it a step further like $.1734 making the market so tight. When they didn't let the stock move like it should've, they made it very difficult for themselves to make it work and since then have clearly been clearing out their positions from whatever was leftover. There are no "investors" selling stock. We'll be fine- don't let the movement of the stock - especially a few thousand shares here and there- dictate your investment approach. Frustrating to see how the stock didn't react better to what is really significant news but what can we do. Anyone who bashes the stock is obviously trying to get the stock price lower so they can buy in for less. Why else would they waste their time hanging around a message board. Let the traders and few weak hands move out and get a clean start. While it has been a long wait, we see the great things happening as you know from following the company closely and regardless of what the stock is doing, the company is signing $100M deals and creating partnerships. On a side note, when they didn't get the Dimri deal done, I think that set us back. So I believe a lot of people are waiting to see what happens with the Israel Stuff. For now though, it looks like they are creating a potential monster in Bosnia.
The news we are waiting for is the partner they are bringing on for the Israeli projects (oil & Gas). That partner is going to have the resources to start drilling. In the meantime, they are bringing in large contracts for the transport and storage business in Serbia and Bosnia. This is just the start. There will be multiple revenue streams. If the company didn't pull the chord on the Dimri deal then the stock would've most likely been trading over $.50 by now since they were the ones who were bringing in capital for O&G (E&P) operations in Israel. The other thing that may take place is a straight up IPO on the TASE but I doubt that will happen since it will be a lot more effective to partner up with a E&P company. We're probably better off with a partner rather than raising funds. I'd rather give 49% of the Israel projects to another company who specializes in E & P and has deep pockets. Makes much more sense for us imo. Once the partner is in place (imo anyday now) they can raise additional capital if needed at higher prices for transport and storage business. They don't need much there because revenues and profits are flowing and will be exponentially growing throughout the year. Of course they need some but not much at this time and they won't give a lot of stock away at low prices.
scion, the last update you posted didn't really give any new info. Am I missing something? Any new updates? I am surprised there is no trial date yet. How long do these things usually take? Thank you for your work.
scion, when do you think there will be an update on this case? Thanks.
Here's what's happening.
I think it's quite obvious what's going on. You see, what we have here is a rare opportunity. There are some major buyers of the stock who are trying to accumulate as much stock as possible at these current levels. They are doing so by moving the stock up on news just enough to create sellers. They are even playing both sides just to create the illusion that there are sellers so they can suppress the stock. When they feel they have enough stock, they will let the stock move and support/drive it up it along the way. They are simply waiting for the Israel news and the new stock that will trade in Israel very soon. When they feel there is going to be a huge move with no way to stop it, that's when they will stop holding up the stock. I am telling you, I have seen this many times before with companies that are in position to substantially move. A $100 Million Dollar contract as the 2nd deal announced is huge. You will not find another company out there with the potential that this has. Someone knows this and they are playing with the stock. A major breakout will occur at $.21 or so and they are holding it beneath there.
There is absolutely no way there can be a real seller on the ask except an artificial seller that is really a buyer in the stock and some people who get sucked into selling based on the price action they see.
There is no way there is a real seller in there as all the stock is locked up in long term investors' hands and a huge story is unfolding day after day.
The other variable is that the MM's and the Pink Sheets. They are playing a huge game with this but that won't be for too much longer. Pink sheets is history this month- next month at latest.
Bottom line- there are people holding this down so they can accumulate shares before the big move. They can get away with it, along with the MM's because it trades on the pink sheets and they can sway the stock very easily since they can dictate price action. Notice how volume was low for most of last week. They sit there low waiting for a seller to give them stock. Then they gently move it up when no one hits them. When there's news, they know no one is going to sell them stock in the morning at the low price so they start buying it up and then add offers on the sell side to create an illusion. They are good at what they do. When they feel there is no way to hold it back anymore, they will support the rally. We all know that this stock doesn't belong on the pink sheets and that the pps should be way higher. I personally think we should be $2.00 or higher with no problem.
$100 MILLION DOLLAR CONTRACT!!!!!!!!!
WOW...the most undervalued stock that publicly trades.
It's extraordinary what's going on here. With the 2 sides of the business, we can have literally BILLIONS in revenue- this is factual information as you all know.
The stock traded close to $2.00 on the BB for good reasons AND that was well BEFORE the $3 Billion in possible oil and gas!
$5.00/share is so realistic at this point, it's scary.
Strong Buy.
There are listing requirements that would need to be met in order for a NASDAQ, AMEX or NYSE listing. One requirement that a lot of small companies don't meet is the minimum share price requirement. If you look it up you will see that. OTCBB is fine while they grow into a monster. OTCBB is a full, transparent listing where a company is fully reporting. Many, many companies start out on the BB and successfully trade there.
From the BB, companies successfully move onto the AMEX or NASDAQ all the time once the share price minimum is met along with other criteria. This happens everyday...
There are ways for the company to go right to NASDAQ but it would not exactly be in our best interest.
WE have to remember that it has not been imperative to be on another exchange yet; however, as of this month or here in after, it will be. I believe we will be back on the BB where this stock can successfully trade.
The BB is a good place to be listed. $3 Billion in oil & Gas with the technology to move it and store it more efficiently and with the markets to sell it to in order to meet the energy needs of these Governments and their consumers won't go un-noticed!
The stock will trade for multiple Dollars.
Getting the security off the Pinks is a must. I can tell you that it will happen but it has not been a priority for the company. With all they have going on, it just hasn't been high on the priority list. It is an added cost as well. You see, for us who live in the States, we know the pinks is a crappy place to be listed. On the other hand, the people who manage the company are in Israel and perhaps have a different perspective. Hopefully they get the idea after all this good news and little help to the stock. Long term investors want transparency and now that the stock has much more exposure and the company is going to start ringing the cash register, the move to the BB is a must. It didn't make sense for them to move until cash was flowing. NOW is the time.
The company was on the BB when the stock was $1.75. They delisted themselves when the credit crisis happened.
Anyway, I am 100% sure they are moving back to the BB within the next 2 months. Hopefully next month. I am also certain that when they announce the partnership deal, that will also force them to list on the BB as they will have the subsidiary trading on the TASE.
any updates this week on this case? When is the trial to take place?
New Partnership coming very soon. As we know, Dimri negotiations were cancelled by energtek. Dimri wanted too much & energtek was smart to pull away from the table as they are protecting themselves and the shareholders from having anyone take advantage of us. Much better deal for us coming soon imo.
The fact that they are going to start drilling within the next few months means they are pretty confident that a new deal will be in place with a new partner who is supplying capital and other resources for drilling and exploration in general.
I think what has held the stock back is the delay in the Dimri deal that egtk terminated; they have a better deal...
This is the news people are waiting for.
Once the deal is in place in Israel, the stock will be taken off the pinks and the stock will soar.
Good luck to all.
The point is that to build a pipeline, it would cost $50 BILLION! That's a huge reason why EGTK's pipeless technology is so appealing to many countries. There is no need for costly infrastructure in many parts of the world, however, there will always be the need for energy obviously.
There's a ton of benefits to EGTK's technology. This is just one of many. You can extrapolate further many different ways.
The cost of decompressing gas is huge; EGTK can transport and store for a lot cheaper due to the fraction of decompressing cost that it takes under their technology.