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Walsh said news in 4th QTR. He is never right. Everything has always taken longer than planned. Probably won't hear anything till January.
Nov 6 PR said " unit being balanced today and reassembled tomorrow. We are excited to get the unit into the field and further testing asap. Since there are no more disposal sites in Alberta owned by LEXG maybe it doesn't have to be shipped there. I wonder where the testing will take place? Maybe in Texas. Could be well underway now!
I believe I read in the 10k that they do.
I think SonCav is delaying development/testing to force LEXG out and get Canada back!
Alex doesn't decide anything when it comes to the UCG. All LEXG HAS NOW IS EXCLUSIVE DISTRIBUTION RIGHTS IN SWAN HILLS REGION OF Alberta, CANADA And NON-exclusive rights in the rest of Canada. That's it. LEXG is not the inventor or developer or tester of the UCG (ultrasonic cavitation generator). LEXG is only a distributor....waiting for its first unit to be delivered for too fxxxking long! He was planning on using it on the disposal sites we bought but the delays have cost us those. SONCAV HAS NOT DELIVERED AND COST US DEARLY!!
I really am not trying to put lipstick on this pig, but, relatively minor debt prevails. We are 5.5 months into the new fiscal year. Since the last R/S shares outstanding have increased from 7.6 mil to 11.6 mil and like Transform said, still low! We will have some more dilution but nothing like earlier this year. I get your traders' point of view but for many of us it's too late for that. We have already paid the price. Debt decreased from 3.5 mil to .5 mil., that's where our dilution came from. Unfortunately both disposal sites are now gone, but SonCav is about to deliver its first unit to LEXG. The unit seals have been upgraded and we should have an update on its status soon. I believe there is a light at the end of this long tunnel. Once delivered, a unit can produce significant monthly income ($100-200k/mo) and the whole picture changes overnight. My DD says this technology is real. LEXG is still waiting to receive it. Some of us would be unwise twice over if we sold now. Recent price movement indicates that something good is in the air!
SHURLY? Unless you have personly seen the UCG or talked to the people developing it and are an engineer with knowledge of the physics etc involved in this technology.....you can't be sure. Do you and are you? If so, tell us some of the how's and whys? Personally I think you're a trader trying to manipulate the pps lower and trash talk is your preferred way of doing it.
The presentations this afternoon will be epic! They will answer the questions we all have. Dr. Langer will address the injectable polymer gel. Dr.Theodore will address the surgery. Info on all 5 patients will be released. Sales of NSS under HDE in 2017. Previous info from company or Napadano said the sale of 4000 NSS units is authorized under HDE. All this news couldn't be better. This is the start of a looong term uptrend!
Yo Co-Pilot, take note. See how this poster includes the how and why? I would appreciate your chart reading expertise if you would include a little more how and why, not just the what.
Oh yeah, I forgot ...you are the know it all about the company! This comment was nothing but trash talk to try and manipulate the price. You don't really know squat about the company and furthermore you don't care to. You are a trader. Keep on trying to manipulate it down but the upside potential is so great you won't have any success unless there is bad news about the UCG or SonCav. Then you can say I told you so. But it will be due to news, not your prognostications which have been surprisingly poor as of late.
Sorry Co-Pilot but your focus on the past is not bearing fruit this time. IMO the longer this base is formed the less likely your scenario is. Time to start looking forward. You've been mistaken a lot lately.
Some opinions are jaded by the long hard road LEXG has endured. Some people look to the future strengthened by their due diligence and the belief in a new, game changing technology. Some people are traders and just want to manipulate the price for a short term gain.
Why are ultra-longs excited about the UCG technology and LEXG distribution rights in Canada? I believe it has been stated by LEXG that the water unit can process 35 cubic yards of water an hour. That is 7086 gallons or 168 barrels. The avg amount of water needed to Frack a well is 3-8 million gallons. At 42 gallons/barrel, it takes about 100,000 barrels of water to frack a well. It costs about $7/bl to transport it and $3/bl to dispose of it after its used, (not to mention the cost of the water in the first place that is in the $millions). The tech could save oil and gas companies serious money ($2mil/ well or $20/barrel of water) therefore it will be in high demand and if LEXG places a minimum of 5 units/yr as contracted and gets, let's just say 20% of the savings,$4 per barrel of water per unit, we are talking serious income, One unit can recycle 100,000 barrels of water in 25 days or one month (with transportation and periodic maintenance). So income of $400,000/mo/unit and if a unit costs say, $250,000 (plus 10% of the savings in royalties to SonCav), LEXG should be able to easily place a minimum of 5 units per year and within one year be up to $2mil per month.Just a little informal analysis but the real numbers should be out in the next couple of months.
You have 20/20 vision in the rear view mirror and are blind to the front of this vehicle that is about to accelerate! You keep referring to LEXGs past. Let's look forward. Debt has been drastically reduced. The UCG technology is entering its final testing stage before monetization. LEXGs business plan is simple, executable with very little overhead at this point, with huge growth potential. Once SonCav gets the technology where it needs to be LEXG is off to the races! Bonneville Salt Flat races!
Risk/Reward baby! If I wanted safety and 5% a year I wouldn't be here. Maybe my balls are bigger than my brains but my DD substantiates this technology and when SonCav finally gets all the bugs ironed out LEXG will be off to the races! We will know for sure which way it goes by summer. I always said 2016 was going to be the year. Can't be in a hurry and won't give up.
And, oh yeah, I forgot to mention income from minerals, upgrading hydrocarbons, mining etc....if the machine tests out in the next couple of months as expected by Walsh and venture capitalists, who will look like a moron?
Some opinions are jaded by the long hard road LEXG has endured. Some people look to the future strengthened by their due diligence and the belief in a new, game changing technology. Some people are traders and just want to manipulate the price for a short term gain.
Why are ultra-longs excited about the UCG technology and LEXG distribution rights in Canada? I believe it has been stated by LEXG that the water unit can process 35 cubic yards of water an hour. That is 7086 gallons or 168 barrels. The avg amount of water needed to Frack a well is 3-8 million gallons. At 42 gallons/barrel, it takes about 100,000 barrels of water to frack a well. It costs about $7/bl to transport it and $3/bl to dispose of it after its used, (not to mention the cost of the water in the first place that is in the $millions). The tech could save oil and gas companies serious money ($2mil/ well or $20/barrel of water) therefore it will be in high demand and if LEXG places a minimum of 5 units/yr as contracted and gets, let's just say 20% of the savings,$4 per barrel of water per unit, we are talking serious income, One unit can recycle 100,000 barrels of water in 25 days or one month (with transportation and periodic maintenance). So income of $400,000/mo/unit and if a unit costs say, $250,000 (plus 10% of the savings in royalties to SonCav), LEXG should be able to easily place a minimum of 5 units per year and within one year be up to $2mil per month.Just a little informal analysis but the real numbers should be out in the next couple of months.
I hate defending the CEO because I think he has done a poor job, however, I see his problem as being dependent upon SonCav to supply him with the UCG. His statements haven't been truthful because SonCav hasn't delivered. Delays have caused unforeseen dilution, the sale of Tero and the loss of control of the company. Things have not gone the way Walsh invisioned they would. He must maintain a good working relationship with SonCav even though they have caused all the problems. Looking forward....
I've asked you several times in the past to disclose what you know and you never have because you don't know anything more than we do. Your guessing. Playing the odds. You can't assure squat!
Must be about their future plans; they have to get the manager before the the employees. Are they about to go after the acute international market? Are they about to move into the chronic market in earnest? I would say it indicates growth is planned for the future! A couple standout points in the PR for me were:".... most recently provided the HR leadership in establishing eight new global delivery Centers of Excellence located in India, China, Russia, Israel, Egypt, Ireland and the USA. Prior to that, Mr. Blackington held human resources leadership positions, located both in the USA and in Asia Pacific, at industry-leading global enterprises including State Street, Monsanto, First Data, and Honeywell." And: ... " His wealth of knowledge and ability to effectively attract, develop and maximize human capital will make him a valuable asset as we progress into the pivotal probable benefit study, commercialization, and beyond," said Mark Perrin, InVivo's Chief Executive Officer and Chairman.
THIS MOVE IS ALL ABOUT GROWTH. IMO significant plans about what the future holds may be revealed Dec 3rd!
You spend so much time and effort trying to convince the world of your views...why? We all know why. Drive it down, buy it, let it run up, sell, drive it down. This is the drive it down part of your cycle. Once you buy you are quiet while it runs up and the it all begins again....a constant tirade of negativity to get it to drop.
Why we are excited about the UCG technology and LEXG distribution rights in Canada? I believe it has been stated by LEXG that the water unit can process 35 cubic yards of water an hour. That is 7086 gallons or 168 barrels. The avg amount of water needed to Frack a well is 3-8 million gallons. At 42 gallons/barrel, it takes about 100,000 barrels of water to frack a well. It costs about $7/bl to transport it and $3/bl to dispose of it after its used, (not to mention the cost of the water in the first place) That's $1mil just for disposal! The tech could save oil and gas companies serious money and if LEXG places a minimum of 5 units/yr as contracted and gets, let's just say, $.75/bl per unit, we are talking serious income and I think this is very conservative. Just a little informal analysis but the real numbers should be out in the next few months.
Just because one person wants out the stock is going to dump? The sale could be for any reason not even associated with LEXG I think bottom feeders are looking for a good deal. Low volume, few buyers and few sellers. Waiting.....
Here's another thought! The next time it goes up......coach us then! If your so good....help us to realize when to get out when it's up! It sucks to hear you tell us how messed up we are because we didn't get out when you did! GOT IT,
You may be right. We are approaching crunch time. If the UCG tech turns out weak numbers you will be able to say."I told you so". If the numbers come out strong, the price will reflect the probable income. We shal see soon enough. But it gets so damn tiring listening to your constant comments about how everyone but you is making a mistake! Enough already! Your position is looking backwards and you believe history supports it. Ours is looking forward and we believe it's been a long hard road, the tech is real and we will be rewarded soon enough for our patience. Give us a break!
Well good for you , I'm happy for you. You are soooo smart! We all should just sell all the shares we have because you say so. How stupid of us to think anything other than what you say could be possible! You are the greatest stock picking Savant that has ever graced this earth! Now that your ego has been stroked sufficiently, will you just get lost!
Look Co Pilot, there is no volume and no action so you aren't going to get the trade you want. WTF are you still hanging around for? Mooove on to another stock that will work for you! You're wasting your time here! Quit trying to force this stock down so you can make a trade.
Why are we excited about UCG Technology and LEXG distribution rights in Canada? I believe it has been stated by LEXG that the water unit can process 35 cubic yards of water an hour. That is 7086 gallons or 168 barrels. The avg amount of water needed to Frack a well is 3-8 million gallons. At 42 gallons/barrel, it takes about 100,000 barrels of water to frack a well. It costs about $7/bl to transport it and $3/bl to dispose of it after its used, (not to mention the cost of the water in the first place) That's $1mil just for disposal! The tech could save oil and gas companies serious money and if LEXG places a minimum of 5 units/yr as contracted and gets, let's just say, $.75/bl per unit, we are talking serious income and I think this is very conservative. Just a little informal analysis but the real numbers should be out in the next few months.
As I recall, Glotec USA failed to deliver a UCG unit as contracted. LEXG sued them and won. Glotec Intl. stepped in and promised to deliver the unit. Walsh bought the first unit and the distribution rights in Canada. He then overextended the company by buying two disposal sites. The delivery of the unit was ultimately delayed, for various reasons, by over two years. Since the unit never arrived, revenue didn't either. The financing for the second disposal site was a note that converted to preferred stock if not paid off. No revenue to speak of so the note holder Blue Citi gained control of the company. Walsh, who is LEXG, has a simple business plan: a) get income from disposal site b) get income from mining minerals from disposal site c) place UCG units around Canada to receive income from oil refinement as well as recycling of fracking water. LEXG gets and must place 5 units per year for five years starting from the delivery of the first unit which still hadn't happened. He says he wants to obtain an oil and gas property. Let's hope he takes his time with that. No more overextending. Just get the first unit up to Alberta, place in on the first and only disposal site, Morrinville, have a third party verify its capabilities and efficiency, and start generating income while showcasing it to Canada and the world. Obtain more rights from SonCav.
Looks like Son Cav, the company LEXG is completely dependent upon with no control over has a large note coming due 30Nov15. This shows that Waste Conversion Solutions has a stake in SonCav and gets distribution rights in the USA! Another entity that believes in the technology!
Exhibit 10.6
Secured Convertible Bridge Loan Agreement
This Convertible Bridge Loan Agreement (the “Agreement”), dated October 6, 2014, is by and between ECO Waste Conversion Solutions Corporation (hereafter “Lender”), Sonic Cavitation Ltd. (“SCLtd”), a corporation registered under the Irish Companies Act, and Sonic Cavitation LLC, a Nevada Limited Liability Company (“SonCav”). The parties will be individually referred to as just noted, or as a “Party”, and collectively referred to as the “Parties”.
WHEREAS, SCLtd owns the patent and master global distribution rights concerning a new technology to treat liquids using ultrasonic cavitation (the “Technology”), and
WHEREAS, SonCav is an existing company, of which SCLtd is Member-Manager, formed for the purpose of distributing the Technology in the United States of America, and
WHEREAS, SonCav seeks additional short term capital to support ongoing operations, which capital will mutually benefit SCLtd as Member-Manager of SonCav, and Lender is in position to assist SonCav and, in turn, SCLtd; and,
WHEREAS, Lender is interested in the possibility of becoming a member of SonCav, doing so through making a capital contribution to the Company, in accordance with the terms contained herein, to which SCLtd has no objection.
NOW, THEREFORE, in consideration of the mutual undertakings and agreements set forth below and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties hereby agree as follows:
1. On or by October 6, 2014, Lender will loan to SonCav the sum of one hundred thousand United States dollars ($100,000), submitted via check, and on or by December 1, 2014, Lender will loan to SonCav the additional sum of one hundred thousand United States dollars ($100,000), collectively the “Loan”, this the total loan is for $200,000. The December 1, 2014, disbursement will be submitted via wire transfer to the following coordinates:
Bank Acct Name: Sonic Cavitation LLC Acct. #: 3853009242
Bank Name: Bank of America ABA #: 026009593
Client Address: Two Allen Center, 1200 Smith St., 16th Floor, Houston, TX 20007
2. The “Anniversary Date” of the Loan is November 30, 2015.
3. SonCav will pay Lender 110% of the Loan on the Anniversary Date (the “Loan Repayment”) in complete satisfaction of this Agreement.
4. Lender has the exclusive option to convert the Loan Repayment into a non-diluting three percent (3%) equity ownership in SonCav, and a non-diluting one-quarter per cent (¼%) equity participation in SCLtd, at any time during the term of this Agreement. Each of SonCav and SCLtd shall, promptly following the date hereof and continuing until the liquidation or sale of 100% ownership interest in SonCav and SCLtd, respectively, take such actions as shall be reasonably necessary to assure that the interest of Lender in each of SonCav and SCLtd, respectively, following conversion of the Loan Repayment is not diluted, which efforts may include, among other options, one or more of (a) creation and issuance on conversion of a class of securities with perpetual non-dilutable rights representing three percent (3%) equity ownership in SonCav and one-quarter per cent (1/4%) equity ownership in SCLtd; and/or (b) issuance of additional equity interests from time to time in the future, as other equity interests are issued, however the additional equity interests shall be issued within 30 days of the issuance of any other equity ownership, to assure that the equity ownership of Lender is not diluted from the referenced levels. For purposes hereof, the requisite equity ownership interest on
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conversion shall be based on proceeds payable in the event of liquidation reflecting all classes of equity securities.
5. SonCav agrees to grant Lender the following special pricing on the 1-time licensing fees for orders of SonCav Generator Units for the United States markets:
a. On up to five (5) SonCav Units in 2015, cost +30%;
b. On up to five (5) SonCav Units in 2016, cost +25%;
c. On up to five (5) SonCav Units in each of 2017, 2018, and 2019, cost +20%.
6. The Parties recognize significant mutual benefits in combining technologies, and agree to meet and negotiate in good faith as soon as possible to discuss possible strategic partnerships and / or joint ventures.
7. SonCav provides Lender an exclusive “first-look” towards the possibility of being SonCav’s primary Phase 2 investor, provided any possible offer made in this regard by Lender is done between now and within two (2) weeks from successfully turning on the first full SonCav Generator Unit for field use.
8. Should Lender need to enforce this Agreement in any court, or pursue collection action against SonCav for failure to pay the Loan Repayment, SonCav agrees to pay all costs related to such enforcement and/or collection.
9. The Parties affirm they have the requisite ability and permission to enter into this Agreement. The Parties further agree that they shall without hesitation supply to one another any and all documents that become necessary to effectuate any section of this Agreement.
10. This Agreement is to be interpreted under the laws of the State of Delaware. The Parties agree to Delaware courts as the exclusive forum for any action brought under this Agreement.
11. This Agreement contains all the terms contemplated by the Parties, supersedes any other agreement, written or oral, on the subject matter, may be signed in counterparts, and may only be modified in writing signed by each Party.
Agreed by ECO Waste Conversion Solutions Agreed by Sonic Cavitation Ltd.
/s/ Jess Rae Booth /s/ Peter Dizer
By Jess Rae Booth, CEO By Peter Dizer, Director
Agreed by Sonic Cavitation, LLC
/s/ Ron Swanson
By Ron Swanson, CEO
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even when you play the odds your right only 50% of the time. We know you favor the down side. It's the easier call based on the past but not necessarily correct going forward.
Of course though, if greed doesn't get people to sell by trying to drive the price up....there is always the play on fear by trying to drive the price down, which is generally more reliable and easier to achieve. The promise of a game changing technology finally being proven effective must be supporting this price and keeping the MM from buying low enough to make the spread they want.
Or..MM are bidding the price up to get interest in buying but it's not working because there are no sellers! Waiting for the next PR which, IMO, will be different than all the rest and actually drive the price up.
No sellers. Traders are reloading and ultra longs are waiting for news.
Big news about the FDA allowing the use of the first 5 patients' results in the next phase toward commercialization...the probable benefit study....should be out before the new year.
Some people read the charts and share pertinent information while some "co-pilots" just have a feeling based on history and call it by the odds.
As if you know anything!
Well, the dump didn't begin and it is a fact that those kind of events are never a fact. Higher probability but never a fact. The odds are that the stock will decline next week. It did however show good support here. We do not know what is being negotiated and with whom. Anything can happen. The odds are, that whatever happens,will be weak, are good. To expect more of the same is natural. Why would anything be different? But, so far the market shows support for over a 400% gain. Clearly something is going on that shows some promise or else the stock would be back down to .03! JMHO.
Support at this level would be a huge signal of confidence in what is going on behind the public eyes. A $2mil market cap means one machine has a good chance of producing income in the near term. When it actually does....we'll be off to the races.
I think the run up was due to a short term attitude of " buy on the rumor, sell on the news" but, in this case..... no news.
Predicting the price will be down is easy. The stocks' past is sketchy, fear is real, it's up huge in the last week and no good news....yet. So, is this all about you.....being right...an ego thing? Even if you are right, it's no big analytical accomplishment.