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May be they're turning the lights back on with this release and more substance to come?
GLOBAL CLEAN ENERGY, INC. UPDATES PYROLYSIS & OTHER PROJECTS
HOUSTON, June 27, 2023 /PRNewswire/ -- Global Clean Energy, Inc. (OTC PINK: GCEI) is a developer of Green Technology projects that will provide clean energy in various forms without negative carbon emissions or footprints. The Company takes seriously its responsibility to its Shareholders to only complete profitable projects, without the requirement of government subsidies, which can change at any time.
Over the last two years, GCEI has done extensive due diligence on multiple opportunities in the clean energy fields including having signed a letter of intent to purchase a pyrolysis project in Indiana out of bankruptcy court. Despite having been closed for some time, the facility was in excellent condition and in a turnkey state of operations. After an extensive detailed due diligence including multiple facility visits, management concluded that the project was not financially viable and would not be able to operate at an acceptable profit margin. More recently, GCEI had negotiated a project for plastics recycling, a major environmental issue. Again, when management applied analysis to the project, it chose not to proceed due to the low profitability.
The Company is currently working on a number of exciting projects that meet our criteria of projected revenue flow and profitability, while at all times creating a cleaner global environment. The Board of Directors of GCEI has selected Black & Veatch as our Engineering, Procurement, Consulting and Construction (EPC) partner. GCEI has been working closely with B&V for over a year. Black and Veatch is a world leading engineering firm with offices throughout the world. The work B&V has done for GCEI is of the highest quality, and management has developed a strong relationship with them.
Two of GCEI's projects that have been in development the longest are in the spaces of Pyrolysis and Algae.
Our Pyrolysis division has selected 10 domestic locations and 3 European locations where pyrolysis facilities can be built on a profitable basis, to assist with the circular economy of taking waste tires and converting them back to their essential elements of oil, recovered carbon black and steel. All these products are in huge demand on a world wide basis.
GCEI will only commence a project if the costs, revenues and potential profit margins meet their requirements on an individual site basis. As soon as management is able to release its financing commitment, that information will be shared. The financing package was completed with the assistance of Black & Veatch and Niutech, our pyrolysis technology provider. Every location will be established as a Special Purpose Vehicle with liability limited to each specific site. Each location will be a singular profit center, and all sites shall be owned or controlled by GCEI. The project cost per site shall vary between $40,000,000- $50,000,000 depending on availability of feedstock and number of pyrolysis lines being installed. The revenues projected per site shall be between $18,000,000- $28,000,000 per site with an anticipated EBIDTA of 27%.
GCEI has entered into binding Letter of Intent that is subject to ongoing due diligence and negotiations with a North American technology provider to develop a Joint Venture using patented sonication technologies for oil sands sulfur reduction process, oils sands sonication and the development of a technology for pyrolysis recovered Carbon Black sonication.
The Algae division is being established as an Algae REIT. It is in the final negotiations of a public offering. GCEI will be the managing general partner and retain 20% of the REIT. The Offering is projected to raise $34,000,000 net after an Underwriting fee of 8.5%. The company has selected three locations in the southern United States of what will be multiple additional locations.
Management is optimistic with its four pronged approach and certain that they will be updating shareholders and the investment community shortly as the projects and financings materialize.
Statements in this release may be regarded, in certain instances, as "forward-looking statements" pursuant to certain sections of the Securities Act 1933 and the Securities Exchange Act 1934, respectively. "Forward-looking statements" are based on expectations, estimates and projections at the time the statements are made, and involve risks and uncertainties, which could cause actual results or events to differ materially from those currently anticipated, including, but not limited to delays, difficulties, changed strategies, or unanticipated factors or circumstances affecting Global Clean Energy Inc. and its business. There can be no assurance that such forward-looking statements will ever prove to be accurate, and readers should not place undue reliance on any such forward-looking statements contained herein. Global Clean Energy Inc. will not republish revised forward-looking statements to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events.
View original content:https://www.prnewswire.com/news-releases/global-clean-energy-inc-updates-pyrolysis--other-projects-301864871.html
SOURCE Global Clean Energy, Inc.
All this paid SM promotion and chatter and it still goes nowhere
Looks like the share printing press has been turned back on and working quietly through the night. S-1 filing in July has I/O at 33.4M shares. New Transfer Agent update on OTC Markets platform has I/O at 36.8M
Crab, even a broken clock is right twice a day. Maybe this time will be the time and he'll be right? Time will tell!
so implied valuation for $LGIQ set at $114 million? With 34 million shares out that's +$3 per share. Holding thumbs
Heard, per the news release and follow up, that the $GOLQ share distributions to the old $LGIQ Registered Holders is in process by the Transfer Agent (book entry shares) and that Brokerage Firm ReOrg departments will have shares to chop up and deliver to holders in brokerage accounts for those due the shares.
Anyone else smell small funding?
GoLogiq Unveils Strategic Plan to Drive Long-Term Growth in Vietnam with Hybrid Model Merging FinTech and Brick & Mortar Retail Convenience Stores
Full July 14 press release
Well, seeing as $GOLQ and their IR guy don't appear to want to put out news or update shareholders, let's see if anyone can do a fair market value assessment with the limited transparency from this group.
Trailing quarter revs were approx $3.3. If we annualize they're running at about $13.2 million.
Companies in this business have been hammered and trade about 1 to 2 times revs. So with 35 million shares out FMV could only be about $0.30 to $0.60 per share.
Is this why they've clammed up?
So when the $LGIQ spinout shares for $GOLQ happen - targeted this month, do the $GOLQ shares get deposited as restricted shares into our brokerage accounts where we're shareholders of record for $LGIQ spinout, or do they open accounts at the $GOLQ Transfer Agent on our behalf of the $LGIQ share distribution?
OK, so now FINRA has approved name change and ticker symbol change. Let's get a corporate update so we know what's going on. More board appointments, business updates, contracts?
seems some pretty big companies identified on the review list. Agency documentation suggests there's a 3 year cure period, or review to rectify, and when it comes to $LGIQ one would think the Baker Tilly USA engagement has made need for review moot. TWT.
$LGIQ constant selling pressure is
A). Former Board Members & Management that left in $LOVA AppLogiq spin out and have zero faith in future companies.
B). IR Award stock to Emerging Markets Report, Chris L, Agoracom, WallStreetReporter, Research Capital and I'm sure numerous others
C). There's a real problem internally yet to be disclosed
D). All of the above
Any guesses?
Granger Whitelaw joins the BOD of the Lovarra $LOVA the $LGIQ spinout.
Is this the same Granger Whitelaw that is the Entrepreneur, Investor and player now focused on SE Asia and Vietnam?
Granger's passion is to see a vision executed and dreams fulfilled. Having raised over $3.4 BN for independent projects over his career and completing many mergers https://www.linkedin.com/in/grangerwhitelaw/details/experience/
Interesting Granger Whitelaw joins the BOD for the Lovarra $LOVA $LGIQ spinout.
Is this the same Granger Whitelaw that is the Entrepreneur, Investor and player now focused on SE Asia and Vietnam?
Granger's passion is to see a vision executed and dreams fulfilled. Having raised over $3.4 BN for independent projects over his career and completing many mergers https://www.linkedin.com/in/grangerwhitelaw/details/experience/
Coldspringharbor1 (Chris), $SOPA is not such a great example. They hit a high of $77.34 NOT $100. They went public only a few short months ago and they're already down 73% from their IPO price. Investors are frustrated there too!
ColdSpringharbor1, the $LOVA value is "notional"! There's no liquidity at this time and unless they show meaningful results there will be a mass exodus once share distribution and restrictions off.
Holding thumbs that this finally works out for us beleaguered shareholders
Gnarly, to date this guy Hussein Anani has been a disappointment since he took over. Said there'd be transparency and updates and we see and hear nothing.
However, they did file their quarterly today and wrote: On October 14, 2021, with the consent of the majority of Common shareholders, the Board of Directors authorized a resolution of the Corporation for the officers to effectuate a 1 for 24 reverse stock split, while the authorized shares of common stock shall be 500,000,000 with a record date of October 24, 2021. Filings with FINRA were completed on 11/3/2021. Additionally, the Corporation simultaneously filed for a name change to DrazCanna, Inc. to reflect the organization’s intentions to enter the US legal Cannabis industry.
I wonder if Hussein Anani has any plans for this shell in 2022 or if he'll do exactly what he's done since taking control - - NOTHING!
in reading the Offering Memorandum, they don't own anything yet. Based on news this week they signed a letter of intent to possibly buy something next year assuming liabilities and probably conditional on raising money. They filed the Offering memorandum in August and have not yet filed any successful closing and yesterday's filing was even more confusing on whether their entire offering was pulled due to errors or just missteps
$95,000 in cash.
$500,000 in debt coming due and convertible at 65% of market price.
45,000,000 shares outstanding
working on another 8.3 million share offering
Commitments to buy assets and take on liabilities in a real estate project
Terms? Dilution? 8k?
Money come from the Reg A Offering the company has undertaken to raise between $9,900 and $25 million?
Looks like the paid promoters increasing their posts - Leonite must be close to starting their Debt conversion into equity - 65% discount conversion to market price with a 21 day look back - puts it around $1.85 conversion. Turn on the pumps.
When will Leonite start their Debt conversion into equity or will the company pay them off with cash? 65% discount conversion to market price with a 21 day look back is appetizing for the Convertible Note Holder, but there's no liquidity in the $CRDV shares yet
If we don't see news on a successful closing of the $2.50 Reg A offering, should we expect the offering price to be lowered or will they move to convertible debt? Just asking for a friend.
As of Nov 15, 2021
45.9 million shares outstanding
Total cash $225,000
Market Cap $137 million
Revenues $0
Net Loss $4.8 million
Need to get the $2.50 Reg A share offering closed soon
Lotsa chatter while they try to place a $2.50 private placement
Ongoing $2.50 private placement memorandum
Public company officer posting in chatrooms?
Have they closed any money from the $2.50 offering in August? I read they did a convertible mote earlier this year but used most of that already? How much dilution coming? All other people's money or will insiders put any up?
The crappy Company website was taken down and a new landing page "launching soon" has been connected - https://siblinggroupholdings.com/
Also there's a chatbot that connects directly to Dynamic Glazing Systems, Inc
Supposed to have Court Hearing Friday October 29 to Discharge Court Obligations.
Now their new website has been taken down
Hmmmmmmmmmm
yawn. trading activity says nothing going on. maybe hussein anani is out of his league and not getting anything done or had no real plan.
Tru Dat Dusty, pathetic website.
back to sleep mode
OTC Pink Current
Slowly doing what's necessary
Looking forward to merger/acquisition news soon
very encouraging indeed. Maybe the curtains will open soon and we'll know the new business
Hussein A. Anani listed out on OTC site as new $SIBE President. That name corresponds to the microbiologist working on genome sequencing.
Agreed Gnarly, very positive step that Hussein Anani cleaned off the old directors and added himself as ceo and director onto the SIBE OTC regulatory site
a positive sign!
Gnarly, what email did you send to? I sent to sibeholdings@gmail.com and got NO response.
Also, since Ben's tweet in mid August that he'd turned the SIBE file over to Hussein Anani for OTC and other, there's been no changes made to the OTC Markets SIBE page. The last change was adding Ben as ceo and director. It's a pretty easy to update and nothing has been done since the tweet about Anani given the reigns.
Either they're not ready to visibly show plans, or they're inept and public company management and regulatory matters - I hope not the latter.