Trying to watch my investments
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Coming up a little from under the Radar.
http://virtualmoneyhoney.tumblr.com/post/114420925122/radmax-rotary-engine-twice-the-power-with-half-the
Steamman, I'm glad it looks good, I think after learning all the features we all will like it, a lot more than the RB Board.
Bobby_JS
I'm also in and on board, That makes three so far over from
the RGUS RB Board looks like we may bring this board back from the dead.
Now all we need is some more good news, expecting a little up date from Williams & White latter this week.
Bobby_JS
"Wow, someone paid a 40% premium to Friday's close".
We need to know what Brokerage House that person used, so we can
avoid doing any business with them.
Looks like this is the END
No News, PPS way Down, No posts.
Well this is the 17th.
What happened to the Reverse Split that was to occurre on the 16th??
solarguy; Could it be due to the Chippies still leaving us?????
Quality Stocks Link
Try this (www.qualitystocks.net)
I hope this works for everyone, it did for me.
Bobby
Here is another pump
Feb 25, 2011 5:40 PM
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New Energy Technologies, Inc. is focused on researching, developing and eventually commercializing emerging next-generation alternative and renewable energy technologies. The company is currently developing a novel MotionPower technology which generates electricity from the motion of vehicles, and the first-of-its-kind SolarWindow technology capable of generating electricity on see-thru glass windows.
To-date, New Energy has filed nine new patent applications with the United States Patent and Trademark Office (USPTO) and two international patent applications to its MotionPower technologies. As millions of vehicles slow or come to a stop at toll plazas, rest areas, drive-thrus and countless other roadway points, their motion energy, derived from the burning of fossil fuels, is dissipated in brakes and lost as heat to the environment. New Energy’s MotionPower devices use this lost energy to generate electricity.
New Energy’s SolarWindow technology makes use of the world’s smallest functional solar cells. These cells can generate electricity from both natural and artificial light sources. Once scaled-up for use in commercial-scale production, New Energy anticipates the ability to spray solar coatings directly onto New Energy’s first-of-its-kind see-thru SolarWindow, providing significant commercial production advantages over today’s thin-films.
Last month, New Energy announced that researchers have successfully developed a 12”x12” working prototype of the Company’s SolarWindow technology. The prototype marks a 300% increase in size over its predecessor and brings the SolarWindow technology another step closer to the residential and commercial end-user.
Please see disclaimer on QualityStocks website: disclaimer.qualitystocks.net
I sure will, as I had planed on doing so any way.
I will just state, That I have advised to bail or sell and the readers of this board should know by whom.
NO, Just good news time to BUY
NEWS!!!!!!
Ms. Briana L. Erickson
New Energy Technologies, Inc.
9192 Red Branch Rd., Suite 110
Columbia, MD 21045
Email: Briana@NewEnergyTechnologiesInc.com
News Release
New Energy Announces Appointment of Solar-PV and Energy Harvesting Experts to Scientific Advisory Board
Company bolsters Advisory Board in ongoing efforts to advance development of: SolarWindow™, able to generate electricity on see-thru glass; and MotionPower™, for generating electricity from the movement of cars, trucks, and heavy vehicles.
Columbia, MD - January 26, 2011 - New Energy Technologies, Inc. (OTCBB: NENE), a developer of next-generation alternative and renewable energy technologies, today announced the appointments of widely-published expert and authority in solar photovoltaics, Dr. Steven Hegedus; and engineering and energy harvesting expert, Mr. Jerry Lynch, PE to the Company's Scientific Advisory Board.
"We are pleased to welcome Dr. Steven Hegedus, and Mr. Jerry Lynch, PE to our team," stated John A. Conklin, President and CEO of New Energy Technologies, Inc. "As we advance SolarWindow™ and MotionPower™ in the clean-tech space, we can significantly benefit from utilizing the expertise these individuals bring to our technology and development, business expansion, and path towards commercialization."
Today's appointments follow New Energy's recent announcements regarding efforts to advance the Company's novel MotionPower™ and SolarWindow™ technologies towards commercialization.
Earlier this month, New Energy announced that its engineering teams are continuing the development of the Company's first-of-its-kind MotionPower™ systems for generating electricity by capturing otherwise wasted kinetic energy of decelerating cars and trucks, such as at toll-booths, drive-thrus, stops signs, and truck weigh stations.
Additionally, scientists developing the Company's novel SolarWindow™ technology, capable of generating electricity on see-thru glass windows, have achieved an important research breakthrough which could lead to improved efficiency, lower production costs and enhanced future commercial manufacturability of SolarWindow™.
Among important next steps in the development of SolarWindow™, is the methodology and techniques of applying the electricity-generating coatings, optimization of power output, and durability. The Company has also validated its power production output model, necessary for providing potential customers with a performance and economic model for calculating cost-savings associated with the application of SolarWindow™ to building facades; Dr. Steven Hegedus recently validated this SolarWindow™ early power production model.
Today, New Energy announced the appointment of Dr. Steven Hegedus and Mr. Jerry Lynch, PE to its Scientific Advisory Board.
Dr. Steven S. Hegedus, Research Scientist, Renowned Photovoltaics Expert
Dr. Steven Hegedus
Dr. Steven S. Hegedus, renowned expert in photovoltaics.
Dr. Hegedus is a Research Scientist at the Institute of Energy Conversion (IEC) at the University of Delaware (UD), the world's oldest photovoltaic research laboratory.
Dr. Hegedus is credited with more than 90 scientific publications related to thin film solar cell fabrication, characterization, manufacturing methods and reliability studies, and has played an active role in the development of numerous solar cell technologies, which have subsequently been commercialized.
Important to the ongoing development of SolarWindow™,
Dr. Hegedus has specific expertise related to optical enhancement, textured transparent conducive oxides (TCO), thin film device analysis and characterization, heterojunctions, and stability under accelerated degradation conditions.
Dr. Hegedus also serves as Principal Investigator of industry-funded programs targeting improved power output of solar cells through chemical processes. Working through commercial partnerships, Dr. Steven S. Hegedus has developed technologies to help characterize the stability of organic photovoltaic modules under varying environmental conditions, an important hurdle in ensuring long-term performance. He is the co-editor of the Handbook of Photovoltaic Science and Engineering.
Dr. Hegedus received a Bachelors in Electrical Engineering from Case Western Reserve University in 1977, a Masters in Electrical Engineering from Cornell University, and Ph.D. in Electrical Engineering from UD.
Mr. Jerry Lynch, PE, Energy Harvesting and Engineering Expert
Jerry Lynch
Mr. Jerry Lynch, PE, Lead Engineer, MotionPowerTM-Express Photographer: Joe Gigli
Mr. Jerry Lynch, P.E. is the principle engineer at Sigma Design Company located in Springfield New Jersey, and is currently serving as Lead Engineer in the development of New Energy's MotionPower™-Express technology for generating electricity from the motion of cars and light trucks. Mr. Lynch is credited with developing early prototypes of the MotionPower™ system, and has worked to achieve significant performance and durability milestones.
Mr. Lynch has 25+ years of experience creating innovative designs, implementing process improvement and solving business problems. As a senior level manager, he has been responsible for all phases of new product development. He has significant experience in technology acquisitions and has assisted in launching 6 new manufacturing business ventures. He has been responsible for the design and successful launches of 100's of innovative technical new products. Mr. Lynch has significant international experience on major projects in Abu Dhabi, UAE, France, The Philippines, Singapore, Indonesia and Spain. Over the past 7 years he has personally been involved in four pilot projects in the renewable energy sector, specifically in solar and hydrokinetic power generation.
Mr. Lynch is a licensed professional engineer in NY and NJ, and has authored numerous articles on design and industrial manufacturing. Jerry has been certified by NIST as a LEAN Manufacturing Expert and has helped over 20 firms develop smart manufacturing methods and approaches. He holds 4 US patents with two patents pending. He is a member of the American Filtration & Separation Society and served as the AFS National Chairman 2006-2007, other affiliations include Society of Manufacturing Engineers, ASME, and SNAME. Mr. Lynch serves on the Middlesex College Engineering Advisory Board and is on the Technical Advisory Board of "Filtration News", an industrial trade magazine.
Mr. Lynch has a BS in Engineering from the State University of New York at Stony Brook, a MS in Business Management from Stevens Institute of Technology, NJ.
Mr. Lynch is the Lead Research and Development Engineer of the Company's MotionPower™-Express system, designed for roadway installations where vehicles are required to decelerate or stop, and in the process, assists vehicles in slowing down. MotionPower™ captures the slowing vehicle's motion (kinetic) energy before it is lost as brake heat and friction, and creatively converts this energy into 'clean', green electricity.
New Energy Logo
About New Energy Technologies, Inc.
New Energy Technologies, Inc., together with its wholly owned subsidiaries, is a developer of next generation alternative and renewable energy technologies. Among the Company's technologies under development are:
* MotionPower Logo (MotionPower™) roadway systems for generating electricity by capturing the kinetic energy produced by moving vehicles - a patent-pending technology, the subject of nine patent applications in the United States and two international patent filings. An estimated 250 million registered vehicles drive more than six billion miles on America's roadways, every day; and
* SolarWindow Logo(SolarWindow™) technologies which enable see-thru windows to generate electricity by 'spraying' their glass surfaces with New Energy's electricity-generating coatings. These solar coatings are less than 1/10th the thickness of 'thin' films and make use of the world's smallest functional solar cells, shown to successfully produce electricity in a published peer-reviewed study in the Journal of Renewable and Sustainable Energy of the American Institute of Physics.
Through established relationships with universities, research institutions, and commercial partners, we strive to identify technologies and business opportunities on the leading edge of renewable energy innovation. Unique to our business model is the use of established research infrastructure owned by the various institutions we deal with, saving us significant capital which would otherwise be required for such costs as land and building acquisition, equipment and capital equipment purchases, and other start up expenses. As a result, we are able to benefit from leading edge research while employing significantly less capital than conventional organizations.
For additional information, please call Ms. Briana L. Erickson toll-free at 1-800-213-0689 or visit: www.newenergytechnologiesinc.com
.
To receive future press releases via email, please visit:
http://www.newenergytechnologiesinc.com/investor_alert
To view the full HTML text of this release, please visit:
http://www.newenergytechnologiesinc.com/NENE20110126
For media inquiries please contact Mr. Jerry Schranz at jschranz@beckermanpr.com, or visit our Media Relations page for additional contact information:
http://www.newenergytechnologiesinc.com/media_relations
Legal Notice Regarding Forward-Looking Statements
No statement herein should be considered an offer or a solicitation of an offer for the purchase or sale of any securities. This release contains forward-looking statements that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although New Energy Technologies, Inc. (the "Company" or "New Energy Technologies") believes that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, it can give no assurance that such expectations and assumptions will prove to have been correct. Forward-looking statements, which involve assumptions and describe our future plans, strategies, and expectations, are generally identifiable by use of the words "may," "will," "should," "could," "expect," "anticipate," "estimate," "believe," "intend," or "project" or the negative of these words or other variations on these words or comparable terminology. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including but not limited to adverse economic conditions, intense competition, lack of meaningful research results, entry of new competitors and products, adverse federal, state and local government regulation, inadequate capital, unexpected costs and operating deficits, increases in general and administrative costs, termination of contracts or agreements, technological obsolescence of the Company's products, technical problems with the Company's research and products, price increases for supplies and components, litigation and administrative proceedings involving the Company, the possible acquisition of new businesses or technologies that result in operating losses or that do not perform as anticipated, unanticipated losses, the possible fluctuation and volatility of the Company's operating results, financial condition and stock price, losses incurred in litigating and settling cases, dilution in the Company's ownership of its business, adverse publicity and news coverage, inability to carry out research, development and commercialization plans, loss or retirement of key executives and research scientists, changes in interest rates, inflationary factors, and other specific risks. There can be no assurance that further research and development will validate and support the results of our preliminary research and studies. Further, there can be no assurance that the necessary regulatory approvals will be obtained or that New Energy Technologies, Inc. will be able to develop commercially viable products on the basis of its technologies. In addition, other factors that could cause actual results to differ materially are discussed in the Company's most recent Form 10-Q and Form 10-K filings with the Securities and Exchange Commission. These reports and filings may be inspected and copied at the Public Reference Room maintained by the U.S. Securities & Exchange Commission at 100 F Street, N.E., Washington, D.C. 20549. You can obtain information about operation of the Public Reference Room by calling the U.S. Securities & Exchange Commission at 1-800-SEC-0330. The U.S. Securities & Exchange Commission also maintains an Internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the U.S. Securities & Exchange Commission at http://www.sec.gov
. The Company undertakes no obligation to publicly release the results of any revisions to these forward looking statements that may be made to reflect the events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
NEWS: Press Release Source: New Energy Technologies, Inc. On Tuesday January 18, 2011, 9:30 am
COLUMBIA, Md.--(BUSINESS WIRE)-- New Energy Technologies, Inc. (OTCBB:NENE.ob - News), a developer of next-generation alternative and renewable energy technologies, is pleased to report that its engineering teams are continuing the development of the Company’s first-of-its-kind MotionPower™ systems for generating electricity by capturing otherwise wasted kinetic energy of decelerating cars and trucks, such as at toll-booths, drive-thrus, stops signs, and truck weigh stations.
Designed as a roadway-based system for installations where vehicles are required to decelerate or stop, New Energy’s MotionPower™ technology assists vehicles in slowing down. In the process of doing so, MotionPower™ captures the slowing vehicle’s motion (kinetic) energy before it is lost as brake heat and friction, and creatively converts this energy into ‘clean’, green electricity.
“In 2010, we concentrated much of our efforts on prototyping our MotionPower™ technologies, and refining their designs in preparation for field testing,” explained Mr. John A. Conklin, President and CEO of New Energy Technologies, Inc.
“This year, we look forward to advancing these roadway systems towards commercialization, just as we’re currently doing with our SolarWindow™ technology. Our priorities include conducting field tests under varying conditions, securing third-party validation for the power production of our MotionPower™ systems, and working to engineer maximum power output. These future initiatives build on our recent engineering achievements.”
Over the last several quarters, engineers have worked to achieve important advancements with the Company’s MotionPower™-Heavy system for generating electricity from the movement of heavy trucks, and its MotionPower™-Express system designed to generate electricity from the motion of cars and light trucks. Specifically, New Energy’s engineers have:
* Improved power output through important engineering refinements to hydraulic and mechanical systems;
* Achieved an enhanced driver experience by integrating new driving surfaces which reduce the driver’s sensation of transitioning from the roadway to the MotionPower™ systems; and
* Prepared the Company’s MotionPower™ systems for national demonstrations by addressing important ‘real world’ factors such as traffic management, safety, setup, and operations -- all important considerations to conducting successful future field tests.
Previously, such field tests have proved valuable in gathering usable data to achieve advancements of the Company’s MotionPower™ system, and have also served to demonstrate the commercial potential of the technology.
Prior tests of the MotionPower™ systems in 2009 for cars and light trucks include several successful demonstrations at a Burger King® drive-thru over a busy Labor Day long weekend, the Four Seasons Hotel Washington, DC on Columbus Day, and the Holiday Inn® Express in Baltimore, MD.
Upcoming field tests of the MotionPower™-Heavy system for buses, long-haul trucks and big rigs are slated to take place at a high-traffic 8.7 million square foot industrial park, servicing the largest maritime cargo center on the East Coast and located on America’s fifth busiest toll-road.
These new field tests make use of New Energy’s MotionPower™-Heavy system, a non-disruptive energy harvesting technology made possible through the novel application of fluid-driven systems. The Company’s unique approach capitalizes on the smooth flow of pressurized fluids and avoids the use of moving mechanical parts, which can be financially expensive, prone to mechanical failure, and inefficient as a consequence of mechanical friction.
New Energy’s flush-mounted MotionPower™ systems are designed to capture the unused kinetic energy of slowing heavy commercial vehicles only at points where they are required to slow down or come to a stop, thus ensuring that moving vehicles are not ‘robbed’ of energy otherwise required to accelerate. Once captured, the Company’s MotionPower™ technology creatively converts this excess kinetic energy into sustainable electricity.
According to the US Department of Transportation, there are nearly 10 million heavy trucks, big rigs, and buses in America, driving almost 240 million miles each year. Engineers envision installation of MotionPower™-Heavy systems across the nation, at active warehousing-distribution centers, cargo loading areas, ports of entry, border crossings, toll booths, weigh scales, rest stops, and other sites where large commercial trucks, big rigs, and buses are required to slow down or come to a stop.
About New Energy Technologies, Inc.
New Energy Technologies, Inc., together with its wholly owned subsidiaries, is a developer of next generation alternative and renewable energy technologies. Among the Company’s technologies under development are:
* MotionPower™ roadway systems for generating electricity by capturing the kinetic energy produced by moving vehicles – a patent-pending technology, the subject of nine patent applications in the United States and two international patent filings. An estimated 250 million registered vehicles drive more than six billion miles on America’s roadways, every day; and
* SolarWindow™ technologies which enable see-thru windows to generate electricity by ‘spraying’ their glass surfaces with New Energy’s electricity-generating coatings. These solar coatings are less than 1/10th the thickness of ‘thin’ films and make use of the world’s smallest functional solar cells, shown to successfully produce electricity in a published peer-reviewed study in the Journal of Renewable and Sustainable Energy of the American Institute of Physics.
Through established relationships with universities, research institutions, and commercial partners, we strive to identify technologies and business opportunities on the leading edge of renewable energy innovation. Unique to our business model is the use of established research infrastructure owned by the various institutions we deal with, saving us significant capital which would otherwise be required for such costs as land and building acquisition, equipment and capital equipment purchases, and other start up expenses. As a result, we are able to benefit from leading edge research while employing significantly less capital than conventional organizations.
For additional information, please call Ms. Briana L. Erickson toll-free at 1-800-213-0689 or visit: www.newenergytechnologiesinc.com.
To receive future press releases via email, please visit: http://www.newenergytechnologiesinc.com/investor_alert
To view the full HTML text of this release, please visit: http://www.newenergytechnologiesinc.com/NENE20110118
For media inquiries please contact Mr. Jerry Schranz at jschranz@beckermanpr.com, or visit our Media Relations page for additional contact information: http://www.newenergytechnologiesinc.com/media_relations
Legal Notice Regarding Forward-Looking Statements
No statement herein should be considered an offer or a solicitation of an offer for the purchase or sale of any securities. This release contains forward-looking statements that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although New Energy Technologies, Inc. (the “Company” or “New Energy Technologies”) believes that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, it can give no assurance that such expectations and assumptions will prove to have been correct. Forward-looking statements, which involve assumptions and describe our future plans, strategies, and expectations, are generally identifiable by use of the words “may,” “will,” “should,” “could,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” or “project” or the negative of these words or other variations on these words or comparable terminology. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including but not limited to adverse economic conditions, intense competition, lack of meaningful research results, entry of new competitors and products, adverse federal, state and local government regulation, inadequate capital, unexpected costs and operating deficits, increases in general and administrative costs, termination of contracts or agreements, technological obsolescence of the Company's products, technical problems with the Company's research and products, price increases for supplies and components, litigation and administrative proceedings involving the Company, the possible acquisition of new businesses or technologies that result in operating losses or that do not perform as anticipated, unanticipated losses, the possible fluctuation and volatility of the Company's operating results, financial condition and stock price, losses incurred in litigating and settling cases, dilution in the Company's ownership of its business, adverse publicity and news coverage, inability to carry out research, development and commercialization plans, loss or retirement of key executives and research scientists, changes in interest rates, inflationary factors, and other specific risks. There can be no assurance that further research and development will validate and support the results of our preliminary research and studies. Further, there can be no assurance that the necessary regulatory approvals will be obtained or that New Energy Technologies, Inc. will be able to develop commercially viable products on the basis of its technologies. In addition, other factors that could cause actual results to differ materially are discussed in the Company's most recent Form 10-Q and Form 10-K filings with the Securities and Exchange Commission. These reports and filings may be inspected and copied at the Public Reference Room maintained by the U.S. Securities & Exchange Commission at 100 F Street, N.E., Washington, D.C. 20549. You can obtain information about operation of the Public Reference Room by calling the U.S. Securities & Exchange Commission at 1-800-SEC-0330. The U.S. Securities & Exchange Commission also maintains an Internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the U.S. Securities & Exchange Commission at http://www.sec.gov. The Company undertakes no obligation to publicly release the results of any revisions to these forward looking statements that may be made to reflect the events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
The way I see it ,
the Vehicles running over the ramps are in the process of slowing down thus using their brakes. If the ramps are stealing energy as you state, than the vehicles should be paying NENE for less wear and tare on their Brake Components and As you stated "there is no free lunch", so NENE should get paid two ways, RIGHT?????????
Boy we are going to make a lot of MONEY.
GO NENE
Here It Is:
Form 10-Q for NEW ENERGY TECHNOLOGIES, INC.
14-Jan-2011
Quarterly Report
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Forward-Looking Statements
This Report on Form 10-Q contains forward-looking statements which involve assumptions and describe our future plans, strategies, and expectations, and are generally identifiable by use of words such as "may," "will," "should," "expect," "anticipate," "estimate," "believe," "intend," or "project" or the negative of these words or other variations on these words or comparable terminology. These statements are expressed in good faith and based upon a reasonable basis when made, but there can be no assurance that these expectations will be achieved or accomplished.
Such forward-looking statements include statements regarding, among other things, (a) the potential markets for our technologies, our potential profitability, and cash flows, (b) our growth strategies, (c) expectations from our ongoing research and development activities, (d) anticipated trends in the technology industry, (e) our future financing plans, and (f) our anticipated needs for working capital. This information may involve known and unknown risks, uncertainties, and other factors that may cause our actual results, performance, or achievements to be materially different from the future results, performance, or achievements expressed or implied by any forward-looking statements. These statements may be found under "Management's Discussion and Analysis of Financial Condition and Results of Operations" as well as in this Form 10-Q generally. Actual events or results may differ materially from those discussed in forward-looking statements as a result of various factors, including, without limitation, the matters described in this Form 10-Q generally. In light of these risks and uncertainties, there can be no assurance that the forward-looking statements contained in this filing will in fact occur. In addition to the information expressly required to be included in this filing, we will provide such further material information, if any, as may be necessary to make the required statements, in light of the circumstances under which they are made, not misleading.
Although forward-looking statements in this report reflect the good faith judgment of our management, forward-looking statements are inherently subject to known and unknown risks, business, economic and other risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this report. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this report, other than as may be required by applicable law or regulation. Readers are urged to carefully review and consider the various disclosures made by us in our reports filed with the Securities and Exchange Commission which attempt to advise interested parties of the risks and factors that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect our actual results may vary materially from those expected or projected.
Overview
The following Management's Discussion and Analysis ("MD&A") is intended to help the reader understand our results of operations and financial condition. The MD&A is provided as a supplement to, and should be read in conjunction with our consolidated financial statements and the accompanying notes to the consolidated financial statements included in this Form 10-Q.
The MD&A is based on our consolidated financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States of America. The preparation of these financial statements requires us to make estimates and judgments that affect the reported amounts of assets, liabilities and expenses and related disclosure of contingent assets and liabilities. Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.
Table of Contents
Background
We were incorporated in the State of Nevada on May 5, 1998, under the name "Octillion Corp." On December 2, 2008, we amended our Articles of Incorporation to effect a change of name to New Energy Technologies, Inc. The accompanying consolidated financial statements include the accounts of New Energy Technologies, Inc. and our wholly-owned subsidiaries, Sungen Energy, Inc. ("Sungen"), Kinetic Energy Corporation ("KEC"), Octillion Technologies Limited ("Octillion Technologies") and New Energy Solar Corporation ("New Energy Solar").
Sungen was incorporated on July 11, 2006 in the State of Nevada and has no assets and no liabilities.
KEC was incorporated on June 19, 2008 in the State of Nevada and has no assets and no liabilities.
Octillion Technologies was incorporated on April 11, 2007 in the Province of British Columbia, Canada for providing administrative services to the Canadian office. We ceased to conduct business in Canada on August 31, 2008 and closed this office. As a result, we dissolved Octillion Technologies and eliminated all intercompany balances, effective December 1, 2008.
New Energy Solar was incorporated on February 9, 2009 in the State of Florida and has no assets and no liabilities.
Our research and development activities are currently focused on the development of:
? MotionPower? Technology for capturing and converting the kinetic energy of moving vehicles to generate electricity; and
? SolarWindow? Technology which enables see-thru glass windows to generate electricity by applying electricity-generating coatings to their glass surfaces.
Ultimately, we plan to market MotionPower? Technology and/or SolarWindow? Technology products, if any, subject to receiving any requisite regulatory approvals, through co-marketing, co-promotion, licensing and distribution arrangements with third party collaborators. The decision as to which method or methods of commercialization we will pursue will depend on various factors including, but not limited to, our financial resources at the time, manufacturing costs, market acceptance of the product(s), and competing technologies or products at the time.
We believe that this approach could provide immediate access to pre-existing distribution channels, therefore potentially increasing market penetration and commercial acceptance of our products and enabling us to avoid expending significant funds for development of a large sales and marketing organization. Currently no such products or arrangements exist, nor can we currently project with any degree of accuracy when, if ever, such products or arrangements may exist. If we do not ultimately commercialize products derived from our MotionPower? Technology and/or SolarWindow? Technology we will not generate revenues from our operations as currently conducted.
Our success will be dependent upon our ability to develop products that are superior to existing products and products introduced in the future, and which are cost effective. In addition, we may be required to continually enhance any products that are developed as well as introduce new products that keep pace with technological change and address the increasingly sophisticated needs of the marketplace. There can be no assurance that we will be able to keep pace with the technological demands of the marketplace or successfully develop products that will succeed in the marketplace.
We cannot currently estimate with any accuracy the amount of either the additional funds or time required to successfully commercialize either technology, because the actual cost and time may vary significantly depending on results of current basic research and development and product testing, cost of acquiring an exclusive license, changes in the focus and direction of our research and development programs, competitive and technological advances, the cost of filing, prosecuting, defending and enforcing patent claims, the regulatory approval process, manufacturing, marketing and other costs associated with commercialization of products following receipt of regulatory approvals and other factors.
Table of Contents
SolarWindow? Technology
Current Research Agreements
USF Sponsored Research Agreement, Option Agreement, and License Agreement
On May 20, 2009, our wholly-owned subsidiary, New Energy Solar, entered into the USF Sponsored Research Agreement with USF, for support to the project entitled "Semitransparent Flexible Power Foil (SFPF)" relating to the development of a prototype flexible semi-transparent organic power foil (1ft by 1ft dimension) for use as an energy-generating window glass in building-integrated photovoltaic products (the "SolarWindow? Technology"). Pursuant to Rule 24b-2 we submitted a request to the SEC for confidential treatment of certain portions of the USF Sponsored Research Agreement, relating to the payment terms and scope of work under the USF Sponsored Research Agreement. Our request was granted by the SEC on June 11, 2009. Accordingly, the terms of the USF Sponsored Research Agreement have not been disclosed.
On May 20, 2009, our wholly-owned subsidiary, New Energy Solar, also entered into an Option Agreement (the "USF Option Agreement") with the University of South Florida Research Foundation, Inc., a not for profit corporation under Chapter 617 Florida Statutes, and a direct support organization of USF, pursuant to which New Energy Solar has the right to an exclusive option to obtain an exclusive worldwide commercial license under certain patents relating to the SolarWindow? Technology. Pursuant to Rule 24b-2 we submitted a request to the SEC for confidential treatment of certain portions of the USF Option Agreement, relating to the payment terms and scope of work under the USF Option Agreement. Our request was granted by the SEC on June 11, 2009. Accordingly, the terms of the USF Option Agreement have not been disclosed.
On June 21, 2010, our wholly-owned subsidiary, New Energy Solar, entered into a license agreement (the "USF License Agreement") with the University of South Florida Research Foundation. The USF License Agreement is related to our continuing development of a prototype flexible semi-transparent organic power foil (1ft by 1ft dimension) for an energy-generating window glass in building-integrated photovoltaic products. Pursuant to Rule 24b-2 we submitted a request to the SEC for confidential treatment of certain portions of the USF License Agreement, relating to the payment terms under the USF License Agreement. Our request was granted by the SEC on July 7, 2010. Accordingly, the terms of the USF License Agreement have not been disclosed.
Effective November 30, 2010, we entered into an addendum to the USF License Agreement, with USF expanding the scope of the USF License Agreement (the "Addendum"). On December 3, 2010 we filed a confidential treatment request with the SEC regarding certain terms and provisions of the Addendum. The SEC has requested that we modify our confidential treatment request to more specifically identify those terms as to which we seek confidential treatment. We are in the process of responding to the SEC's request.
Terminated Research Agreements
UIUC Sponsored Research Agreement
On August 25, 2006, through our wholly owned subsidiary, Sungen, we entered into a Sponsored Research Agreement ("UIUC Sponsored Research Agreement") with the University of Illinois at Urbana-Champaign ("UIUC") for the development of a new patent-pending technology to integrate films of silicon nanoparticle material on glass substrates, acting as photovoltaic solar cells that have the potential to convert normal home and office glass windows into ones capable of converting solar energy into electricity, with limited loss of transparency and minimal changes in manufacturing infrastructure (the "UIUC Silicon Nanoparticle Energy Technology"). On July 23, 2007, Sungen, amended its Sponsored Research Agreement with UIUC. Pursuant to this amended Sponsored Research Agreement, we agreed to provide an additional $203,617 to the previously awarded amount of $219,201 for a total of $422,818, to the University of Illinois in order to accelerate the development of films of silicon nanoparticle material composed of nanosilicon photovoltaic solar cells that have the potential to convert solar radiation to electrical energy.
The UIUC Sponsored Research Agreement expired on August 22, 2008. As of this date, we had advanced a total of $266,709 to the University of Illinois pursuant to the terms of the UIUC Sponsored Research Agreement. Pursuant to the terms of the UIUC Sponsored Research Agreement, we were to advance an additional $156,109 to the University of Illinois, which is included in accrued liabilities at November 30, 2010 and August 31, 2010. However, we have not made the advance pending determination as to whether funds previously paid to UIUC under the terms of the UIUC Sponsored Research Agreement have been fully expended. We are of the opinion that to the extent these funds were not expended they are refundable to us.
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We did not record any research and development expense pursuant to the UIUC Sponsored Research Agreement during either of the three month periods ended November 30, 2010 and 2009. During the period from inception (May 5, 1998) to November 30, 2010, we recorded $422,818 as research and development expense pursuant to the UIUC Sponsored Research Agreement.
Oakland Sponsored Research Agreement
On August 18, 2008, we entered into a two-year Sponsored Research Agreement ("Oakland Sponsored Research Agreement") with scientists at Oakland University to further the development of our photovoltaic technology for generating electricity on transparent glass windows.
Pursuant to the terms of the Oakland Sponsored Research Agreement we agreed to advance a total of $348,066 to fund the research and development activities of which $140,519 was payable on or before September 1, 2008, $127,547 was payable on or before October 1, 2009 and $80,000 was payable on demand during the contract period for reimbursement of materials provided by Oakland University. In August 2008, we advanced $140,519 to Oakland University pursuant to the Oakland Sponsored Research Agreement. In February 2009, in order to preserve our working capital, we decided that it was in our best interest not to proceed forward with the Oakland Sponsored Research Agreement and exercised our termination right by providing written notice to Oakland University of our election to terminate the Oakland Sponsored Research Agreement. As of the termination date of the Oakland Sponsored Research Agreement, $20,220 of the $140,519 initially advanced to Oakland University had been expended, all during the quarter ended February 28, 2009. The remaining $120,299 was refunded to us in April 2009.
MotionPower? Technology
Veryst Agreement
On November 4, 2008, our wholly-owned subsidiary, KEC, entered into an agreement (the "Veryst Agreement") with Veryst Engineering LLC ("Veryst") relating to the development of a car and truck energy harvester. The Veryst Agreement continues until terminated by either Veryst Engineering LLC or KEC. Pursuant to Rule 24b-2 we submitted a request for confidential treatment of certain portions of the Veryst Agreement, relating to the payment terms, scope of work and the milestone terms of the license agreement under the Veryst Agreement. Our request was granted on November 25, 2008. Accordingly, the terms of the Veryst Agreement have not been disclosed.
On September 9, 2009, we entered into two additional agreements with Veryst whereby Veryst performed additional testing of our vehicle energy harvester and advanced prototyping as well as continued development of a commercial scale truck energy harvester.
During the three months ended November 30, 2010 and 2009, we recorded $10,565 and $123,640, respectively, as research and development expense pursuant to the agreements with Veryst entered into on September 9, 2009. During the period from inception (May 5, 1998) to November 30, 2010, we recorded $313,657 as research and development expense pursuant to these same agreements.
On July 6, 2010, we entered into another agreement with Veryst whereby Veryst performed services associated with improving system energy capture and conversion, and enhancing electrical power production.
During both of the three months ended November 30, 2010 and 2009, we did not record any research and development expense pursuant to the agreement with Veryst entered into on July 6, 2010. During the period from inception (May 5, 1998) to November 30, 2010, we recorded $48,000 as research and development expense pursuant to the same agreement.
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We continue to utilize Veryst, on a consulting basis, to further test, calibrate, and develop our MotionPower? Technology.
Sigma Design Agreement
On May 1, 2009, KEC entered into a consulting agreement with Sigma Design Company ("Sigma Design") whereby Sigma Design provided ongoing engineering and product development services relating to the development of our MotionPower? Technology. On August 25, 2009, KEC entered into an additional consulting agreement with Sigma Design whereby Sigma Design continued to provide engineering services relating to the development of our MotionPower? Technology. On June 25, 2010, KEC entered into another consulting agreement with Sigma Design whereby Sigma Design will develop a modified prototype for the MotionPower? Technology, which will deliver more output than the original prototype. The agreements between KEC and Sigma Design are collectively referred to herein as the "Sigma Design Agreements"). Each of the Sigma Design Agreements may be terminated by either Sigma Design or us upon 30 days written notice to the other party. We have also engaged Sigma Design to conduct durability field tests of our MotionPower? Technology.
During the three months ended November 30, 2010 and 2009, we recorded $26,423 and $120,778 as research and development expense pursuant to the Sigma Design Agreements and services provided for the durability field tests. During the period from inception (May 5, 1998) to November 30, 2010, we recorded $292,694 as research and development expense pursuant to the Sigma Design Agreements and services provided for the durability field tests.
We continue to utilize Sigma Design, on a consulting basis, to further test, calibrate, and develop our MotionPower? Technology.
Nerve Regeneration Technology
On August 22, 2007, we spun off our wholly-owned biotechnology subsidiary, MicroChannel Technologies Corporation ("MicroChannel") with our shareholders. The net assets and results of operations of MicroChannel of the prior period have been reclassified as discontinued operations.
Results of Operations
Operating Expenses
A summary of our operating expense for the three months ended November 30, 2010
and 2009 was as follows:
Three Months Ended
November 30, Increase / Percentage
2010 2009 (Decrease) Change
Operating expense
Marketing and investor relations $ 37,055 $ 241,593 $ (204,538 ) (85 ) %
Wages and benefits 279,486 225,360 54,126 24
Professional fees 89,947 92,568 (2,621 ) (3 )
Research and development 57,122 274,314 (217,192 ) (79 )
Travel and entertainment 6,187 6,706 (519 ) (8 )
Other operating expenses 37,065 61,755 (24,690 ) (40 )
Total operating expense $ 506,862 $ 902,296 $ (395,434 ) (44 ) %
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Marketing and Investor Relations
Marketing and investor relations costs represent fees paid to publicize our technology within the industry and investor community with the purpose of increasing company recognition.
We utilize various third parties to manage our investor relations and facilitate our marketing programs, to increase company recognition and branding, and to provide shareholder communications.
The decrease in marketing and investor relations expense during the three months ended November 30, 2010 compared to the same period in 2009 is substantially due to us undertaking a targeted marketing program during the fourth quarter of fiscal year 2009, which continued into the first quarter of fiscal year 2010. We incurred $210,000 more during the prior year quarter than the current quarter as a result of our targeted marketing program designed to establish our brand name recognition early on in our corporate development. During that time, our marketing efforts, in addition to keeping our shareholders apprised of the advances to our technologies, generated more than 70 news media stories, including online, radio, television, and print media coverage in leading mainstream media in the United States.
We intend to continue to further develop and market our brand name and increase our brand recognition. Subject to the receipt of any requisite regulatory approvals, we believe our marketing strategy ultimately will facilitate the distribution, sale and public acceptance of our MotionPower? Technology and SolarWindow? Technology products.
Wages and Benefits
During the three months ended November 30, 2010, we incurred $43,664 in wages and benefits expense for services rendered by John A. Conklin, who was appointed to serve as our President, Chief Executive Officer ("CEO") and Chief Financial Officer ("CFO"), effective August 9, 2010, and $235,822 in stock compensation expense for the amortization of the fair value of the stock option granted to Mr. Conklin on August 9, 2010 to purchase up to 2,000,000 shares of our common stock at an exercise price of $0.55 per share, expiring on August 9, 2020.
During the three months ended November 30, 2010, we incurred $42,065 in wages and benefits expense for services rendered by Meetesh Patel, our former President, CEO, and CFO, and $182,729 in stock compensation expense for the amortization of the fair value of the stock option granted to Mr. Patel on June 24, 2009 to purchase up to 2,000,000 shares of our common stock at an exercise price of $0.52 per share. The stock option granted to Mr. Patel was subsequently forfeited upon his resignation from all executive officer positions held with us and as one of our directors on August 9, 2010 and the related stock compensation previously recogonized was reversed.
Professional Fees
Professional fees primarily consist of accounting, audit and tax fees, legal fees, non-employee Board fees, SEC related filing fees, and consulting services provided to advance our MotionPower? and SolarWindow? Technology products ("Energy Consulting Services").
Professional fees decreased $2,621 during the three months ended November 30, 2010 compared to the same period in 2009 primarily as a result of a decrease in legal fees of approximately $16,900 directly related to the preparation and filing of our Form S-1 and amendments thereto during the prior year. Offsetting the decrease in legal fees are increases in accounting and audit related fees of approximately $5,000 and Energy Consulting Services of approximately $7,300. Accounting and audit related fees increased due to the timing of when audit field work was performed by the independent registered public accounting firm for our August 31 fiscal year end. Energy Consulting Services consists of consulting fees paid to third parties to provide technical advice, guidance, and business planning and modeling to help advance the commercial development of our technologies, including but not necessarily limited to our SolarWindow? and MotionPower? technologies.
Research and Development
Research and development costs represent costs incurred to develop our SolarWindow? and MotionPower? technologies and are incurred pursuant to our sponsored research agreements with USF, development agreements with Veryst, consulting agreements with Sigma Design, and agreements with other third party providers. These agreements include salaries and benefits for research and development personnel, allocated overhead and facility occupancy costs, contract services and other costs. Research and development costs are expensed when incurred, except for nonrefundable advance payments for future research and development activities which are capitalized and recognized as expense as the related services are performed.
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Please refer to the appropriate sections above for disclosure of the specific terms and amounts incurred for each research and development agreement.
Other Operating Expenses
Other operating expenses includes rent, patent filing costs, utilities, insurance, press releases, information technology related fees, printing costs, and other administrative costs.
Other operating expenses decreased $24,690 during the three months ended November 30, 2010 as compared to the same period of the prior year substantially due to decreases in press release expense of approximately $19,600 and patent expenses of approximately $5,300. During the quarter ended November 30, 2010, we announced the unveiling of our SolarWindow? Technology at USF as well as other significant advancements in the technology. During the quarter ended November 30, 2009, we made several announcements regarding the advancement of our MotionPower? Technology and the testing of such at Burger King and the Four Seasons Hotel. As we continue to advance our MotionPower? and SolarWindow? technologies we will continue to make announcements by way of press releases, resulting in additional fees for press releases. During the quarter ended November 30, 2009, we filed United States and international patent applications for our MotionPower? Technology and SolarWindow? Technology, resulting in higher expense in the prior year than in the current year.
Other Income (Expense)
A summary of our other income (expense) for the three months ended November 30,
2010 and 2009 was as follows:
Three Months Ended
November 30,
2010 2009 Change
Other income (expense)
Interest expense $ (251 ) $ - $ (251 )
Foreign exchange gain (loss) (497 ) 16 (513 )
10 Q is out, check it out.
Thanks, JEM165 don't apologize for windy posts as they are the way I and some others get to learn.
Imcat, Thanks for the reply, that makes sense. sounds good to me.
No posts in over 60 hrs. Where did everybody go??
I had bought into NENE before I found that the Green Chippies were pumping it.
I joined them in order to know when they start to bail out. I figure with them having, as I understand 4 or 5 thousand members, that when they start bailing there may be quit a drop in PPS and that alone should be worth the
$99.00 fee to join.
Hope that I'm right it my thinking
bobby-js
Stock Price going down, I see it as an opportunity to BUY
Buy low and sell high.
I knew that would do it. I'm a LT investor, thought I would try trading so I put in a bid for 1.50 GTC when it was bouncing around 1.70.
Looks like it may be slowly rising up out of the ASHES
Don't overlook the fact that the Green Chippies are in here pumping.
Hope you are going back to your Chiropractor on Monday. That may insure another GREAT DAY