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Last I saw that resembled an official document was 71 million outstanding, 51 million in the float and 100 million authorized. this of course does not reflect the latest authorization.
BTW, old website is up again, not that it matters, I looked around a bit and the most up to date info I could find was from march 2003.
This is a good thing because it slows the bloodletting that LB can do to a minimum. (The DSF has just taken a huge hit as well. It will be easier for us to see if someone else is flooding the market). LB can sell 500000 every 6 months (provided there are enough buyers too, keep in mind), how long will it take to get rid of 47million shares? My speculation is that BW has convinced LB that he can make PWTC a success and that LB will benefit more by holding on for the longterm. I dont see any other reason why LB would agree to this. Does LB deserve the extra 20million shares? Of course not. But if by some miracle they are able to make a go of it, LB can get as rich as he wants as far as Im concerned, as long as he takes the rest of us with him. All these steps are showing to be positive moves for PWTC.
I am also registered, and received nothing.
Excellent sites. Thankx.
You can get better quote and news info from this site.
http://host.wallstreetcity.com/wsc2/corporate_snapshot.html?DB=SQL&template=corpsnap.htm&Sym...
750000 bid, 5000 ask. Looks like buying to me.
Does any of us really care if they are only running a promotion on PWTC as long as the stock price goes up? Im thinking there will be lots of quiet when we all sell for $100 a share. Personally I dont care why it goes up, as long as it does.
I agree. Hasher can post what he wants but I would like to see the outright PWTC 'slamming' cut down (from everyone), it can only hurt the company and the many others who still believe this has a chance. All of us are entitled to our opinion but badmouthing most of us dont care to hear. I too think PWTC will succeed and that is just my opinion. Maybe thats just a pipe dream but I'll believe till the end.
I am getting a quote on 2 boards I watch but not on some others. Last trade 2:41 eastern time (just minutes ago). Bid .025 ask .03. I would expect a halt though.
Interesting article but I do see 2 problems when applying this to PWTC. 1. This article is from 2002, trading rules, especially short selling rules, have been changed dramatically since then. 2. Noting the example given in the article referencing a stock trading at $5/share, short selling could be applied to drive the price down and still leave room to convert the debenture and make money. However, with PWTC's stock at 2.5 cents/share, short selling ability is limited. No brokerage house in their right mind would loan the necessary stock to short at that price because they know they would never get it back. You would have to short millions of share in order to make any money at all. Buy a million at 1 cent and sell it for 2, you would only make $10,000 back, hardly worth the $5.5 million they initially invested. Also, the lending company in PWTC's case would have to be betting on the success of the company because at these prices the market will quickly dry up should the stock fall further. There is not a deep enough 'spiral' left in PWTC at this point. If they decide to convert their debenture into shares there will be no market to sell them into in order to get their money back. This is one area that we make be safe from due to the low price of PWTC.
Just my take on this.
One Ive been following. Not trying to link this to PWTC or anything but notice the reference to the Chinese market opprotunities.
http://biz.yahoo.com/iw/040809/071039.html
Vebco's site is under const, I wouldnt worry too much right now. PWTC - http://members.shaw.ca/lbalak/index2.html
Whats with Balak's name in the URL!
I hear ya. Sorry about that. I'll try to throw in some senless stuff in the future. Hey, wait, since when do stock markets make sense anyway?
The only relevant point to all the legal dribble is where did one buy the stock? If you paid $10, great, if you paid $100, not so great. Same key with PWTC. Some bought in at $2 and they will probably never see a positive return. Others are in at 1 or 2 cents and, are either doubling their money weekly or monthly by playing the stock, or holding on for the long term. And as long as this thing doesnt go bust, they will make some money, even with recapitalization. How much remains to be seen. For all of us shareholders, we have to make a decision at some point whether to hold or sell. It will be different for all of us depending on our financial tolerance and out right guts. This is what you get when you buy into a startup.
But Caesars isnt a startup is it. Heres some of my experiences with 'Blue Chips'.
Told by brokers NOT to buy bank stocks 6 years ago. Banks are up 100's of %'s since then. Told to buy Nortel at $60 (50% discount they said). Fortunatly I sold out at $45.
Point is, if anyone out there has the sure fire answer to investing in stocks, Im listening. You find out all you can about a company, put your money down, and hope like hell they havent lied to you. Not much else you can do.
What do you mean by 'interference'? There are 70 million outstanding shares. In order for this thing to move, the bid must dry up (people HOLDING onto their shares)and the buyers must hit the ask price consistently and move things up. Its nearly impossible to get a penny stock out of these levels. It will take consistant and valid action and developments by the company. If you think that those on this board are tainted in their opinions, guess how hard getting new shareholders will be. The first thing they will look at is the history. Even if all looks rosy now, they will still be hesitant because of the past. Management has it work cut out for them. If/when they do convince new money to come in, this stock will rise quickly. Remember, PWTC was consistently trading at below 1 cent 2 weeks ago. Now its hitting 4 cents. Thats a 400% rise. Little solace to those who bought at $2 but huge gains for the outsider to see considering the events that have occured. Sure the future looks positive but all that has happened is non material changes. If you looked in from the outside and saw a stock up 400% with no material change in status, would you buy? If management does its job, the gains will come.
1. AS can hold PWTC back. LB has no choice than to force AS to show his hand - which holds nothing. AS has a history of ending up in court.
2. True
3. This is a common pattern in a startup company.
4. We'll never know eh? Look to the future.
5. It was not LB's decision to disclose this info, it was a mistake on the newswire. This news will show again. Why doesnt someone call Princeton Research J. Michael King, 702-650-3000 and ask (although they wont tell you anything right now).
6. Speculation
7. True but yeah whatever.
8. Pioneers of technology are everywhere. It is a crapshoot to know who will get there first. History is full of 'also rans'. Most startups never make it big. If we knew who to follow it would be easier eh? Lay your money down and take a chance.
9. Looks that way. The right combination is hard to find, just ask Time-Warner and AOL for example. The good news is, there looks to be hope once again. Will it be there this time? Dont know.
10. What suggests he would stop it? Looks like he'll win.
11. This will be proven in time.
12. Shareholders can force an AGM. By law a company must have a vote once a year. We've counted share twice now (gets worse the longer we wait due to share issues). Someone make the call and lets vote. I'll bet even some of LB's consultants would rather be hugely rich than pennies at a time? I dont know how to do it but I'll bet one of you out there does. If youre not being fooled by LB stepping down voluntarily then lets put the nail in the coffin for him.
Probably a case of prematurely being released? Time will tell, but it will create another buying opprotunity. If you believe its coming, buy. If you dont, stay on the side.
I'll say this at least for the benefit of putting a bug in LB's ear. Has anyone given the least bit of consideration to the possibility that LB knows the jig is up as far as the free share glut is concerned and perhaps he has other plans. LB recently received 7 million shares for his 'services' and speculation is that he holds as many as 30 million total. Many have suggested that he is just dumping the shares on the market (for a yearly take of about $150,000). Selling these shares at 2 cents has certainly provided a living for LB but even he cannot be that stupid as to not see what he could rape from the success of this company. Should there actually be pending promise for this company, it would be no great feat for the share price to run up to $1 per share. At that point LB could easily sell out for $7 million instead of the paltry $150 thousand he has been getting. God forbid this company hits the $100 mark set out by some analysts and LB walks away with $700 million bucks! $3 billion if he has all the shares that some suggest he does!!! Imagine LB as the next billionaire:(
As for a share consolidation. Although the company is certainly in line for one, any consideration must first pass shareholder approval, and then SEC approval. Assuming LB and his consultant cohorts pass it by voting, the SEC will never approve it because the share price is too low. They will not even consider a consolidation than doesnt push a share price above $1, so LB, or whoever, will have to run the share price up to about 20 cents before they can even consider this option. It will come, but LB cannot just push one through on a whim and continue as he is now. It will have to be strategic. When it comes, be ready to sell your shares and run, if you can get out with a profit, 'cause if LB still has any control, and the promised rumours are not true, the share price will plummet to 2 cents again and all you nay sayers will have been right.
This is common for a startup company, especially in a realestate market like Vancouver's. I would be more interested in knowing if PWTC offices have recently 'changed' to a renting status?
Do you really want to sabotage something that could actually, possibly (yeah I know, in a million years) be potentially progressive for the company?
Hasher, I cant seem to send you privatly to your yahoo account (keeps bouncing back). Send me the info to seidi_test@hotmail.com. Im in contact with some other shareholders who will join in also.
Interesting candor about the shares being issued not only lately but over the years, paid to LB, consultants and whoever. I find it interesting in the last financials that LB has chosen to trade his debt in for more shares once again. Remember in all this that the shares paid out are worthless to the receivor of said shares until they sell them (and at 3 cents a share theyre pretty much worthless anyhow). Consider this: Shares paid to companies like Key Capital and BC Research means PWTC paid them nothing for their work. Either they did no work or they are counting on a rise in prices at some point to get their moneys worth. Much the same with LB converting. He doesnt really get much for the million shares he converted except to further dilute the company. He also cannot continue 'milking' this thing as the outstanding share are approaching 100 million at an alarming rate. If he continues one of 2 things will happen.
1. The company will become so diluted that even a consolidation wont help bring the attention it needs to attract new shareholders or major investors needed to make this thing fly.
2. The company will become so diluted that it will implode.
LB (if youre listenting). The time is almost up. Make it happen or your gravy train will be gone. Even you can see that?
You are correct on all accounts, I just prefer to look ahead and if its LB who will leads us, then just get it done already. Dont get me wrong, I dont really believe what is said until an actual event happens. Thats why I keep saying 'show me already'. China is still probably the best market to start in for many reasons (huge, cheap).
It was interesting to see 'LAB' making comments (whoever he was). Its just as likely to be someone just pulling our chain rather than LB himself. I dont know why he'd waste his time on a chat site (unless he's sitting on a beach with his $150000 laptop and nothing else to do).
Whatever happend to the share count and forcing an AGM? We now know that LB holds about 27 million shares. We could still vote him out.
Im not too concerned about who they are as long as they do the job. Remember that the battery has more than one potential application and i dont care what form it comes out in and who uses it as long as it finally makes money.
Remember why they are in China in the first place. In 2008, the Olympics are in Bejing. The Chinese government has already stated that any improvements to the existing infrastructure and any new infrastructure, as far as people moving is concerned, will be battery powered. This is why PWTC chose to go there. Big market.
As we all know, the years have passed and the company is now behind the 8 ball as far as production is concerned. If BC Research did any of their job then this new development company should have much of their work done already. Also remember they are dealing with a new patent which means the structure of the battery has changed and this will need testing.
1. At least the shares LB got were restricted and he cant just dump them all right away (although Im sure theyre structured to his benefit). I have no problem with LB getting rich as long as he takes me with him.
2. Ignore the comments made on the quarterly report regarding the status of the company (seems like were at the same place as 2 years ago). These statements are REQUIRED to be made by any company in PWTC's situation (a company with no actual saleable product) in order to remain listed on the exchange.
3. Good to see the patent news. Its these kind of news items that will drive the stock, not the jibberish contained in the quarterly reports. They need to continue with positive action and release statements on a monthly basis.
4. Future financing will be interesting as most banks wont even look at a company if their stock is under $1. Issuing more shares will push them into a 'share consolidation' position (Im assuming there are now over 60 million with the latest LB payment). The good news is that at 3 cents a share it doesnt make sense to consolidate. They will have to push/promote the stock up to about 20 cents a share bafore a 1 for 10 consolidation even makes sense, giving some of us some relief.
Excellent, its good to see someone making something off of this. It takes a lot of skill (and luck) to 'play' a stock at these levels, more power to ya. Im not too bad myself sitting on 40000 shares at an average cost of 25 cents a share so for the most part Im hangin on for the long run. Im sort of stuck in that I dont have a lot of spare change to play with so Im a little gun shy to go for it when it dives like it did the other day. Should be more opportunities like this in the future as this thing plays out but for anyone else thinking of trying to 'play' this stock, dont play with money you cant afford to flush! There's still a big chance this thing will go bust.
Hey Gamood, were ya able to make any $$ yesterday? I damn near bought when it went to .02.
You're probably right. But who cares as long as it goes up and they finally make something out of this mess. I also agree that there is something else up besides this hiring. They probably wouldnt waste their time and money unless there is somewhere to go with it all (I know, we've all heard that before). We need to see more developments before the next couple of months is up though. This news is enough to drive the stock but probably not enough to support it. Im intrigued that they have paid the patent maintenance costs. It is my understanding that if they did not own the patent then A) Why would they bother to keep up the payments and B)If they are not the owners then they probably would not be allowed to make the payments!
Its probably just LB selling to get some cash to bring the website up again? (Oh yeah, the website's down again).
But seriously, there is bound to be some speculation buying and selling due to the announcements of March 15. Let's hope it amounts to something real. Picks your spots carefully.
Whats with all the negetivity all of a sudden? I thought LB had things under control again? Sorry, just had to bang my head on the desk one more time to clear things up. But seriously, the delay in the trial is nothing new, I wouldnt be surprised if it gets moved back several times. Its just posturing by whatever side to try to throw the other side off and get an advantage. Normal events. (and lawyers getting rich). AS's track record of spending time in court is NOT going to help his cause. Too much wolf crying.
Im still kind of excited about this 'new patent' thing. If PWTC can get that, they can tell AS he can have his old technology and take a hike and any court case would be moot.
Time will tell.
I kinda like the idea of the China connection. I believe there is big money to be made there. The Chinese government has committed to 'green' power systems for the future and has a huge budget due to the Olympics coming up. The comments made were that any upgrades to the existing transportation infrastructure and any new systems would be battery powered. PWTC tried to capitalize on this by making contacts within China and showing commitment by actually opening an office there. But alas what happened? What seemed to be major inroads, in the end went nowhere. As far as this topic is concerned all we can do is sit back and hope that all is not lost. The latest announcements seem to indicate that there is still something ongoing. But hey LB - SHOW ME SOMETHING OFFICIAL THAT INDICATES PROGRESS IS BEING MADE!!!
Secondary hope is that due to the language barrier, maybe the Chinese dont fully understand what an *%#@ LB really is!
I hear ya. Lets not stop the push to get rid of him by any means. How's the vote count going? Who's got the tally?
Lets all keep our heads here. While this is exiting news, we've all seen these promises before. Some official confirmation of events would be nice. Lots of companies post whatever they want on their website (and twist it to look promising) and get away with it.
I'm wondering if the company has developed the battery technology beyond AS's original idea enough to warrant a new patent without infringing on the old one, which as we all know is in ownership rights dispute? If so, they could run with it and leave AS out in the cold. Naw, thats probably too optimistic.
If you're gonna start buying again, buy carefully!
Good one pegasus. Maybe we'll all get free coupons?
Sorry if Ive missed this being posted before. Website is up, again, caught this on the What's New tab.
-------------------------------
February 4, 2004
Letter of Intent signed with Zhejiang Huang Yan Hua Ri Group of Companies, Zhejiang, China.
Scheduling of meetings with principal of Zhejiang Huang Yan Hua Ri to further the development and manufacturing of the Power Technology battery.
Advisory board being formed.
New patent being prepared for filing.
-------------------------------------------------
Interesting about the patent filing, I wonder what they're plotting to do.
PS, if any of you have trouble getting to the website, you have to find a currently valid link or type the whole thing in again. If you try to use your old bookmark you may be redirected to an old host location. Try pasting this URL.
http://www.powerpwtc.com/index2.html
Unfortunatly the only copy I have of the articles is a bulk report on paper, and of course the internet links listed there do not work anymore. I contacted Business Wire services and they will source the articles for a $50 fee plus $7 per article that we want to retrieve!
Also keep in mind that I am up here in Canada. Will help in anyway I can, but I have no experience in filing a suit. I know the rules are different here and we would probably have to launch 2 suits. Whoever is contacting lawyers down there (Im making an assumption that most of you are in the US)may want to ask if we can combine the 2. Im wondering if companies like BC Research (who Im guessing would hold a consideralbe number of shares)would have to file in Canadian court as well. It will make our efforts more difficult at the least.
I think no matter what avenue we choose we should still try to take control of the company by voting. Its certainly cheaper and a law suit will probably get us nothing in the end as has been pointed out many times before. I agree with that.
I liked the comment about Lee Iacocca, it sounds absurd and Im sure he wouldnt be interested (haha)but the idea is solid. We need someone who knows how to run a business and market a product. You do not necessarily have to be a specialist in that product. Ive seen many a small cap company fail just because the people running it knew too little about being a businessperson.
I have an analysts report from The Investor Online(unfortunatly its a paper document and the link is invalid now) with headlines for PWTC.
Thursday August 23, 2001
Power Technology Inc Signs First Major Licensing Agreement For It's Power Battery-Business Wire-8;47am.
I also recall several headlines through the website (which is down again, imagine that)stating that Power Tech was in talks with Douglas Battery to produce and market the product and that they were close to an agreement with a group in Europe for a production facility.
Does anyone else have related info to confirm this?
2001 seemend to be the year they looked like they were putting it all together - many positive headlines. This is when i bought most of my shares. If this was all a farce we would have considerable ammo for a suit should all or some of this have been fabricated.
Oh yeah and dont forget we can also choose who to vote into the CEO and other positions (not just voting LB out).
Add my 28000 shares to the voting list.
Here's a few facts to consider to show that our chances of taking over are not irrelevant. Most companies are operated by a controlling shareholder who owns about 30 to 35 % of the outstanding shares. To have that person (group) ousted you must obviously out vote them. This is not as hard as it seem when you consider there are still 65% of the shares in what may be opposition hands. It also gets tricky when you consider the fact that most small time shareholders dont even bother to vote so you are not talking about a 100% total to count. I personaaly have held shares in about 100 different companies over the years and have only voted once, as usually I hold less than 1000 shares. The AGM I did attend was very 'rowdy' shall we say. Many angry shareholders were there to oust the board. The vote at the meeting was very close and the mail ins as well. The board managed to hang on by the skin of their teeth. Point is, it can be done. We cannot assume that LB or even AS hold most of the shares, and Im sure we would have no trouble convincing AS to vote LB out. Also it is probable that BC Reasearch and others were paid in at least some shares and it would probably be in their best interests to have something happen with this product. We can also probably assume that since there have been no public AGM's lately (that I know of) that LB knows this as well. A company can be forced to have an AGM but Im not sure on how to initiate that.
Some good points graeme. I dont think any of us wants to go there. One more thing we all must think of is that we really dont have much to stand on until a decision is made regarding the ownership of the rights. Then we have all kinds of opprotunites and grounds to move forward on. But as said previously - nothin from nothin is nothin and thats what PWTC is worth at the moment so Id hate to see anyone do a lot of work for - nothin.
A couple of ideas; has anyone though of pooling our shares to take control of the company? Im not sure if we would have enough to vote LB out, we'd all have to talk. This might be beneficial especially if PWTC win the case.
Also, even with the state PWTC is in, there are analyst reports coming through almost every 2 days. Somebody is still watching this thing although Im pretty sure about what they are saying. Remember analyst reports can be "STAY AWAY" too as well as buy recommendations. My question is, has anyone ever bought one of these lately to see what they are saying? If so are you interested in sharing? Check this link for some.
http://finance.yahoo.com/q/rr?s=PWTC.OB
As I said, works fine for me. Did you actually cut and paste that link? I checked again 5 mins ago and have no trouble getting on the site.