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Synthetic Fuel Could End US Reliance On Crude Oil
Princeton professor reports on synthetic fuel from coal and non-food crops.
Here's the link:
http://www.redorbit.com/news/science/1112743168/synthetic-fuel-replace-crude-oil-120612/
Here's the story:
Synthetic Fuel Could End US Reliance On Crude Oil
December 6, 2012
The United States has been relying on crude oil for more than a century. While it has played a vital role in driving modern innovation—transportation, plastics, detergents and even clothing—crude oil has also contributed to dangerous global warming. With the burgeoning threat of climate change, researchers from Princeton have outlined how the US could end reliance on petroleum and move to synthetic fuels.
The US could use a combination of coal, natural gas and non-food crops to produce synthetic fuel, the Princeton team explained. Besides the economic and national security benefits such a move could herald, the move could also be environmentally advantageous. Because plants absorb carbon dioxide to grow, the US could cut automotive greenhouse gas emissions by as much as 50 percent by the 2080s using non-food crops to create fuel.
The synthetic fuel idea comes from professor Christodoulos Floudas and graduate students Josephine Elia and Richard Baliban. The trio developed a comprehensive system for optimizing the production of synthetic liquid fuels as an economical replacement for petroleum-based fuels. These synthetic fuels would be an easy replacement in the transportation sector because they can replace modern fuel without any special modifications to engines as they are nearly identical to refined crude oil.
Such a development is a smarter option than biofuels, the team said, as these organic fuels still need to be mixed with gas or require specially modified engines to work.
Floudas and his colleagues spent the better part of the last year evaluating scenarios in which US vehicles are run using synthetic, rather than petroleum-based fuels. Producing a series of scholarly articles, the team analyzed the impacts that synthetic fuel plants were likely to have on local regions and also identified locations that would not overload electric grids and water supplies.
“The goal is to produce sufficient fuel and also to cut CO2 emissions, or the equivalent, by 50 percent,” said Floudas in a statement. “The question was not only can it be done, but also can it be done in an economically attractive way. The answer is affirmative in both cases.”
But accomplishing this feat is no easy task, nor is it a quick one, said Floudas. He said a realistic approach would call for a gradual implementation of synthetic fuel technology, estimating it would take up to 40 years for the US to fully adopt such a fuel system. And while it could be a savior for the environment, it won’t be easy on our wallets. He said such a system could cost upwards of $1.1 trillion to implement.
But if the cost is a driving factor in keeping the technology from taking off, it should be noted that the costs of coping with climate change could be far greater. As it stands, it would be likely that such a system would not curb climate change in the near term, but would present a positive trend for future generations, potentially saving the world from climatic catastrophe.
Princeton’s research has been an important part of another paper produced by the American Institute of Chemical Engineers (AIChE), the nation’s largest chemical engineering association. In their paper, the engineers call for a greater integration of energy sources and urge lawmakers to consider chemical conversion processes as a potential method to produce cleaner energy.
“Right now we are going down so many energy paths,” said June Wispelwey, the institute’s director and a 1981 Princeton alumna. “There are ways for the system to be more integrated and much more efficient.”
Vern Weekman, one of Floudas’ co-researchers, and author of the AIChE paper, said the main reason the industry has not embraced synthetic fuels has been cost. But with crude oil prices continuously rising, a move to synthetic fuel production could be far more viable than before.
Weekman, a Princeton lecturer and former director of the Mobil Research Laboratories and past AIChE president, said: “The main reason we wrote the paper was to get the planning agencies — the national academies, the Department of Energy, the Environmental Protection Agency, the Defense Department — thinking about this.”
He added that it was important that the agencies consider “this key link of using chemical processes to produce conventional fuels.”
In the Princeton research, Floudas and his colleagues found that synthetic fuel plants could produce gasoline, diesel and jet fuels at competitive prices, depending on prices of crude oil and feedstock used for synthetic fuel production.
“Even including the capital costs, synthetic fuels can still be profitable,” said Baliban, a chemical and biological engineering graduate student from Princeton. “As long as crude oil is between $60 and $100 per barrel, these processes are competitive depending on the feedstock,” he said.
The technique would implement the use of heat and chemistry to create gasoline and other liquid fuels from high-carbon feedstock ranging from coal to switchgrass, a native North American grass common in the Great Plains. This technique, called the Fischer-Tropsch process, is a 1920s German-developed method that converts coal to liquid fuels.
The process takes carbon and hydrogen from feedstock and reassembles them into complex chains that make up fuels like gasoline and diesel. The feedstock is super-heated to temperatures over 1,800 degrees Fahrenheit and converted to gas, and through the Fischer-Tropsch process, the gas is converted to chains of hydrocarbon molecules. These hydrocarbon chains are then processed over catalysts such as nickel and iron. The end product includes fuel, wax and lubricants normally made from crude oil.
Floudas and his colleagues added an extra step to recycle CO2 through the process to reduce the amount of emissions produced by the plants. Baliban said there is a limit to how much CO2 can be economically recycled, although such plants could also trap unused CO2 emissions for later storage.
Over the years, the Fischer-Tropsch process hadn’t gained much attention due to low crude oil prices and the high cost of building new synthetic plants, making synthetic fuels too expensive to gain widespread acceptance. But as crude oil prices increase, the synthetic fuel prospect is becoming a more practical approach.
With skyrocketing crude oil prices, the US government has recently looked into a number of projects involving the process to see how feasible the synthetic approach would be.
In a July paper, published in the AIChE Journal, the Princeton researchers said the US could meet its entire demand for transportation fuel by building 130 synthetic fuel plants around the country. Elia, that paper’s lead author, said the country should build 9 small, 74 medium and 47 large plants producing 1 percent, 28 percent and 71 percent of the fuel, respectively.
The researchers found that the largest contributor to the price of synthetic fuel will be the cost of building these plants, followed by the purchase of biomass and electricity. They estimate that the nationwide average cost of producing the synthetic equivalent of a barrel of crude oil would be $95.11. However, the cost would vary regionally, with some areas of the country paying more, and others less. Kansas, where the researchers believe the most production would occur, would average $83.58 for the equivalent of a barrel of crude oil.
The cost could be much lower if plants used coal and natural gas rather than biomass, said Floudas, but that would also eliminate most of the environmental benefit.
“If you want to have a 50 percent reduction in emissions, you need to have the biomass,” he said.
The team noted that synthetic fuels are a much greener option than petroleum-based fuels. The heavy metal and sulfur contaminants of petroleum fuels can be captured in synthetic plants before the fuel is even shipped out. Synthetic fuels can also be used in both gasoline and diesel engines with no modifications needed. Synthetic fuels would also greatly reduce transportation’s carbon footprint.
Even if the entire country were to switch to zero-emitting electric or fuel cell vehicles immediately, millions of internal combustion vehicles would still be on the road, emitting carbon into the atmosphere. By switching to synthetic fuels, Floudas said the country could drastically reduce emissions, at least from the transportation point-of-view.
“This is an opportunity to create a new economy,” Floudas said. “The amount of petroleum the U.S. imports is very high. What is the price of that? What other resources to do we have? And what can we do about it?”
Source: Lawrence LeBlond for redOrbit.com - Your Universe Online
Who is G&A Capital Development, LLC?
Whatever happened to Boris? Did he sell his shares and take the money? Wasn't he supposed to get about 20 million shares?
Waiting to buy in at $0.005 in January.
APRAD, I think their plan was to only go to 400,000,000, but it looks to me like they screwed up the paperwork and didn't check it before they submitted it. The easiest way to correct the error was to go up to 800,000,000.
I'm guessing that they're going to start using the 50,000,000 preferred shares to finance their dealings from now on.
So, would you call it dilution when you go from a share structure of 100,000,000 and 10,000,000 and increase it to 800,000,000 and 50,000,000?
I think it's cute the way they switched the par values on June 11 and their total authorized capital became 410,000 instead of 90,000. I wouldn't be surprised if they did the second split to bring down the authorized capital from $410,000 to $130,000.
I really wonder if these guys check their work before they submit it. there's a continuing pattern of missed mistakes.
Do you think the price will go drop tomorrow when the world discovers this dilution?
I checked for US Fuel Corp too, but couldn't find it. Curiously, Stockwatchman is still on the list (as revoked).
But I just checked for U.S. Fuel and found some really interesting stuff.
On June 11, 2011 they did a stock split
Previous Stock Value: Par Value Shares: 100,000,000 Value: $ 0.0001 Par Value Shares: 10,000,000 Value: $ 0.001 No Par Value Shares: 0 ----------------------------------------------------------------- Total Authorized Capital: $ 20,000.00 New Stock Value: Par Value Shares: 400,000,000 Value: $ 0.001 Par Value Shares: 100,000,000 Value: $ 0.0001 No Par Value Shares: 0 ----------------------------------------------------------------- Total Authorized Capital: $ 410,000.00
Then on June 14, 2011 they did another stock split.
Previous Stock Value: Par Value Shares: 400,000,000 Value: $ 0.001 Par Value Shares: 100,000,000 Value: $ 0.0001 No Par Value Shares: 0 ----------------------------------------------------------------- Total Authorized Capital: $ 410,000.00 New Stock Value: Par Value Shares: 800,000,000 Value: $ 0.0001 Par Value Shares: 50,000,000 Value: $ 0.001 No Par Value Shares: 0 ----------------------------------------------------------------- Total Authorized Capital: $ 130,000.00
Also, there's something from May 20, 2011 about Series A Preferred shares.
So there's now 800,000,000 common shares and 50,000,000 preferred.
Doesn't something like this deserve a filing?
Why has NSOL disappeared from the Nevada Secretary of State Business Entity Search?
there is nothing like good timely reporting....
That looks like the address for our old friend Mr Drinkwater
http://www.lawyers.com/New-Jersey/Atco/Stanley-N-Drinkwater-III-1079335-a.html
cytrxman, I find the date on that certificate interesting. Isn't it after Brown's accident?
Nice volume. 3,000 at 0.0066. Is that $20?
Ferrari uses cellulosic ethanol for F1 victory.
Here's a company (iogen) that actually has a product, a plant, and an alliance with a major player (Shell).
http://green.autoblog.com/2010/03/17/ferrari-wins-first-formula-one-race-with-cellulosic-ethanol-blen/
I get it and have for years. To somebody with a solid background in science or engineering and who was willing to do a little digging on-line, in my opinion it should have been obvious that the company's claims did not stand up to close examination.
When you combined the non-viable technical claims with the clues to management ineffectiveness such as errors in filings, missing patent payments, the company rent-an-office and rent-a-mailbox, and chasing the flavor of the day in technologies, for me there was only one conclusion that satisfied Occam's razor.
I often thought to myself that Herda must have a real day job somewhere else, because with the lack of progress it seemed to me he couldn't possibly be working full-time for NSOL.
Although I hope the perpetrators get what they deserve, I can't help but admire them for how they ran the "operation".
doc, it sounds like you're finally starting to get it.
Any changes in the last 4 months?
Is this dead cat coming back down to earth?
Doc, NSOL Bylaws are copied in post 20425 along with a link to the SEC where I got them.
I'm not sure if they are up to date.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=34536919
Walker,
see post 20425
SECTION 1. The annual meeting of the stockholders of the Company shall be
held at its office in Las Vegas, Clark County, Nevada, at 2:00 o'clock in the
afternoon on the second day of March in each year, if not a legal holiday, and
if a legal holiday, then on the next succeeding day not a legal holiday, for
the purpose of electing directors of the company to serve during the ensuing
year for the transaction of such other business as may be brought before the
meeting.
No worries, rear. I'm not so sure I'm particularly enlightened after watching my portfolio plummet last year, but I agree with you that the SEC isn't going to save anybody on this one.
Even so, it would be nice to think that the perpetrators of shady deals eventually get caught and aren't allowed to profit from their misdeeds - even though we know this is rarely the case.
Here's hoping for a better 2009.
rear,
Are you sure you meant to direct that at me?
If you check back years ago, you'll see I was giving warnings and asking questions about this company back on RB before there was an NSOL board on Ihub - even before robnjr appeared at RB. Ask MLM, he'll confirm.
The Company Bylaws could be helpful if somebody wanted to force a stockholders meeting:
source:
http://sec.gov/Archives/edgar/data/1116112/000111611200500001/0001116112-00-500001-0003.txt
They may have been amended once: to change the name and to increase the authorized shares.
<DOCUMENT>
<TYPE>EX-3.(II)
<SEQUENCE>3
<FILENAME>0003.txt
<DESCRIPTION>BY-LAWS
<TEXT>
EXHIBIT 3 (b)
BY-LAWS OF
Stock Watch Man, Inc.
ARTICLE I
MEETING OF STOCKHOLDERS
SECTION 1. The annual meeting of the stockholders of the Company shall be
held at its office in Las Vegas, Clark County, Nevada, at 2:00 o'clock in the
afternoon on the second day of March in each year, if not a legal holiday, and
if a legal holiday, then on the next succeeding day not a legal holiday, for
the purpose of electing directors of the company to serve during the ensuing
year for the transaction of such other business as may be brought before the
meeting.
At least five day's written notice specifying the time and place, when and
where, the annual meeting shall be convened, shall be mailed in a United
States Post Office addressed to each of the stockholders of record at the time
of issuing the notices at his or her, or its address last known, as the same
appears on the books of the company.
SECTION 2. Special meetings of the stockholders may be held at the office
of the company in the State of Nevada, or elsewhere, whenever called by the
President, or by the Board of Directors, or by vote of, or by an instrument in
writing signed by the holders of 50% of the issued and outstanding capital
stock of the company. At least ten days' written notice of such meeting,
specifying the day and hour and place, when and where such meeting shall be
convened, and objects for called the same, shall be mailed in a United States
Post Office, addressed to each of the stockholders of record at the time of
issuing the notice, at his or her or its address last known, as the same
appears on the books of the company.
SECTION 3. If 51% of the stockholders of the company shall waive notice of
a meeting, no notice of such meeting shall be required, and whenever all of
the stockholders shall meet in person or by proxy, such meeting shall be valid
for all purposes without call or notice, and at such meeting any corporate
action may be taken.
The written certificate of the officer or officers calling any meeting setting
forth the substance of the notice, and the time and place of the mailing of the
same to the several stockholders, and the respective addresses to which the
same were mailed, shall be prima evidence of the manner and fact of the calling
and giving such notice.
If the address of any stockholder does not appear upon the books of the company,
it will be sufficient to address any notice to such stockholder at the principal
office of the corporation.
SECTION 4. All business lawful to be transacted by the stockholders of the
company, may be transacted at any special meeting or at any adjournment
thereof. Only such business, however, shall be acted upon at special meeting
of the stockholders as shall have been referred to in the notice calling such
meetings, but at any stockholders' meeting at which all of the outstanding
capital stock of the company is represented, either in person or by proxy,
any lawful business may be transacted, and such meeting shall be valid for all
purposes.
SECTION 5. At the stockholders' meetings the holders of Fifty percent (50.00%)
in amount of the entire issued and outstanding capital stock of the company,
shall constitute a quorum for all purposes of such meetings.
If the holders of the amount of stock necessary to constitute a quorum shall
fail to attend, in person or by proxy, at the time and place fixed by these by-
laws for any annual meeting, or fixed by a notice as above provided for a
special meeting, a majority in interest of the stockholders present in person
or by proxy may adjourn from time to time without notice other than by
announcement at the meeting, until holders of the amount of stock requisite
to constitute a quorum shall attend. At any such adjourned meeting at which
a quorum shall be present, any business may be transacted which might have
been transacted as originally called.
SECTION 6. At each meeting of the stockholders every stockholder shall be
entitled to vote in person or by his duly authorized proxy appointed by
instrument in writing subscribed by suck stockholder or by his duly authorized
attorney. Each stockholder shall have one vote for each share of stock
standing registered in his or her or its name on the books of the corporation,
ten days preceding the day of such meeting. The votes for directors, and upon
demand by any stockholder, the votes upon any question before the meeting,
shall be viva voces.
1
<PAGE>
At each meeting of the stockholders, a full, true complete list, in
alphabetical order, of all the stockholders entitled to vote at such meeting,
and indicating the number of shares held by each, certified by the Secretary
of the Company, shall be furnished, which list shall be prepared at least ten
days before such meeting, and shall be open to the inspection of the
stockholders, or their agents or proxies, at the place where such meeting is
to be held, and for ten days prior thereto. Only the persons in whose name
shares of stock are registered on the books of the company for ten days
preceding the date of such meeting, as evidenced by the list of stockholders,
shall be entitled to vote at such meeting. Proxies and powers of Attorney to
vote must be filed with the Secretary of the Company before an election or a
meeting of the stockholders, or they cannot be used at such election or
meeting.
SECTION 7. At each meeting of the stockholders the polls shall be opened and
closed; the proxies and ballots issued, received, and be taken in charge of,
for the purpose of the meeting, and all questions touching the qualifications
of voters and the validity of proxies, and the acceptance or rejection of
votes, shall be decided by two inspectors. Such inspectors shall be appointed
at the meeting the by the presiding officer of the meeting.
SECTION 8. At the stockholders' meeting, the regular order of business shall
be as follows:
1. Reading and approval of the Minutes of previous meeting or meetings;
2. Reports of the Board of Directors, the President, Treasurer and
Secretary of the Company in the order named;
3. Reports of Committee;
4. Election of Directors;
5. Unfinished Business;
6. New Business;
7. Adjournment;
ARTICLE II
DIRECTORS AND THEIR MEETINGS
SECTION 1. The Board of Directors of the Company shall consist of at least
one and up to seven persons who shall be chosen by the stockholders annually,
at the annual meeting of the Company, and who shall hold office for one year,
and until their successors are elected and qualify.
SECTION 2. When any vacancy occurs among the Directors by death, resignation,
disqualification or other cause, the stockholders, at any regular or special
meeting, or at any adjourned meeting thereof, or the remaining Directors, by
the affirmative vote of a majority thereof, shall elect a successor to hold
office for the unexpired portion of the term of the Director whose place shall
have become vacant and until successor shall have been elected and shall
qualify.
SECTION 3. Meeting of the Directors may be held at the principal office of
the company in the state of Nevada, or elsewhere, at such place or places as
the Board of Directors may, from time to time, determine.
SECTION 4. Without notice or call, the Board of Directors shall hold its
first annual meeting for the year immediately after the annual meeting of the
stockholders or immediately after the election of Directors at such annual
meeting.
Regular meetings of the Board of Directors shall be held at the office of the
company in the City of Las Vegas, State of Nevada, on the second day of March
immediately following the annual shareholders meeting as stated in Section 1
of Article I. Notice of such regular meetings shall be mailed to each Director
by the Secretary at least three days previous to the day fixed for such
meetings, but no regular meeting shall be held void or invalid if such notice
is not given, provided the meeting is held at the time and place fixed by these
by-laws for holding such regular meetings.
Special meetings of the Board of Directors may be held on the call of the
President or Secretary on at least three days notice by mail or telegraph.
Any meeting of the Board, no matter where held, at which all of the members
shall be present, even though without or of which notice shall have been waived
by all absentees, provided a quorum shall be present, shall be valid for all
purposes unless otherwise indicated in the notice calling the meeting or in the
waiver or notice.
2
<PAGE>
Any and all business may be transacted by any meeting of the Board of Directors,
either regular or special.
SECTION 5. A majority of the Board of Directors in office shall constitute a
quorum for the transaction of business, but if at any meeting of the Board
there be less than quorum present, a majority of those present may adjourn from
time to time, until a quorum shall be present, and no notice of such
adjournment shall be required. The Board of Directors may prescribe rules not
in conflict with these By-laws for the conduct of its business; provided,
however, that in the fixing of salaries of the officers of the corporation,
the unanimous action of all of the Directors shall be required.
SECTION 6. A Director need not be a stockholder of the corporation.
SECTION 7. The Directors shall be allowed and paid all necessary expenses
incurred in attending any meeting of the Board, but shall not receive any
compensation for their services as Directors until such time as the company is
able to declare and pay dividends on its capital stock.
SECTION 8. The Board of Directors shall make a report to the stockholders at
annual meetings of the stockholders of the condition of the company, and shall,
at request, furnish each of the stockholders with a true copy thereof.
The Board of Directors in its discretion may submit any contract or act for
approval or ratification at any annual meeting of the stockholders called for
the purpose of considering any such contract or act, which, if approved, or
ratified by the vote of the holders of a majority of the capital stock of the
company represented in person or by proxy, shall be valid and binding upon the
corporation and upon all the stockholders thereof, as if it had been approved
or ratified by every stockholder of the corporation.
SECTION 9. The Board of Directors shall have the power from time to time to
provide for the management of the offices of the company in such manner as they
see fit, and in particular from time to time to delegate any of the powers of
the Board in the course of the current business of the company to any standing
or special committee or to any officer or agent and to appoint any persons to
be agents of the company with such powers (including the power to sub-delegate),
and upon such terms as may be deemed fit.
SECTION 10. The Board of Directors is vested with the complete and
unrestrained authority in the management of all the affairs of the company,
and is authorized to exercise for such purpose as the General Agent of the
Company, its entire corporate authority.
SECTION 11. The regular order of business at meetings of the Board of
Directors shall be as follows:
1. Reading and approval of the minutes of any previous meeting or meetings;
2. Reports of officers and committeemen;
3. Election of officers;
4. Unfinished business;
5. New Business;
6. Adjournment.
ARTICLE III
OFFICERS AND THEIR DUTIES
SECTION 1. The Board of Directors, at its first and after each meeting after
the annual meeting of stockholders, shall elect a President, a Vice-President,
a Secretary and a Treasurer, to hold office for one year next coming, and until
their successors are elected and qualify. The officers of the Secretary and
Treasurer may be held by one person.
Any vacancy in any of said offices may be filled by the Board of Directors.
The Board of Directors may from time to time, by resolution, appoint such
additional Vice Presidents and additional Assistant Secretaries, Assistant
Treasurer and Transfer Agents of the company as it may deem advisable,
prescribe their duties, and fix their compensation, and all such appointed
officers shall be subject to removal at any time by the Board of Directors.
All officers, agents, and factors of the company shall be chosen and appointed
in such manner and shall hold their office for such terms as the Board of
Directors may by resolution prescribe.
3
<PAGE>
SECTION 2. The President shall be the executive officer of the company and
shall have the supervision and subject to the control of the Board of
Directors, the direction of the Company's affairs, with full power to execute
all resolutions and orders of the Board of Directors not especially entrusted
to some other officer of the company. He shall be a member of the Executive
Committee, and the Chairman thereof; he shall preside at all meetings of the
Board of Directors, and at all meetings of the stockholders, and shall sign
the Certificates of Stock issued by the company, and shall perform such other
duties as shall be prescribed by the Board of Directors.
SECTION 3. The Vice President shall be vested with all the powers and perform
all the duties of the President in his absence or inability to act, including
the signing of the Certificates of Stock issued by the Company, and he shall so
perform such other duties as shall be prescribed by the Board of Directors.
SECTION 4. The Treasurer shall have the custody of all the funds and
securities of the company. When necessary or proper he shall endorse on behalf
of the company for collection checks, notes, and other obligations; he shall
deposit all monies to the credit of the company in such bank or banks or other
depository as the Board of Directors may designate; he shall sign all receipts
and vouchers for payments made by the company, except as herein otherwise
provided. he shall sign with the President all bills of exchange and promissory
notes of the company; he shall also have the care and custody of the stock,
bonds, certificate, vouchers, evidence of debts, securities, and such otter
property belonging to the company as the Board of Directors shall designate; he
shall sign all papers required by law or by those by-laws or the Board of
Directors to be signed by the Treasurer. Whenever required by the Board of
Directors, he shall render a statement of his cash account; he shall enter
regularly in the books of the company to be kept by him for the purpose, full
and accurate accounts of all monies received and paid by him on account of the
company. He shall at all reasonable times exhibit the books of account to any
Directors o the company during business hours, and he shall perform all acts
incident to the position of Treasurer subject to the control of the Board of
Directors.
The Treasurer shall, if required by the Board of Directors, give bond to the
company conditioned for the faithful performance of all his duties as Treasurer
in such sum, and with such surety as shall be approved by the Board of
Directors, with expense of such bond to be borne by the company.
SECTION 5. The Board of Directors may appoint an Assistant Treasurer who
shall have such powers and perform such duties as may be prescribed for him by
the Treasurer of the company or by the Board of Directors, and the Board of
Directors shall require the Assistant Treasurer to give a bond to the company
in such sum and with such security as it shall approve, as conditioned for the
faithful performance of his duties as Assistant Treasurer, the expense of such
bond to be borne by the company.
SECTION 6. The Secretary shall keep the Minutes of all meetings of the Board
of Directors and the Minutes of all meetings of the stockholders and of the
Executive Committee in books provided for that purpose. He shall attend to the
giving and serving of all notices of the company; he may sign with the
President or Vice-President, in the name of the company, all contracts
authorized by the Board of Directors or Executive committee; he shall affix
the corporate seal of the company thereto when so authorized by the Board of
Directors or Executive Committee; he shall have custody of the corporate seal
of the company; he shall affix the corporate seal to all certificates of
stock duly issued by the company; he shall have charge of Stock Certificate
Books, Transfer books and Stock Ledgers, and such other books and papers as
the Board of Directors or the Executive Committee may direct, all of which
shall at all reasonable times be open to the examination of any Director upon
application at the office of the company during business hours, and he shall,
in general, perform all duties incident to the office of Secretary.
SECTION 7. The Board of Directors may appoint an Assistant Secretary who
shall have such powers and perform such duties as may be prescribed for him by
the Secretary of the company or by the Board of Directors.
4
<PAGE>
SECTION 8. Unless otherwise ordered by the Board of Directors, the President
shall have full power and authority on behalf of the company to attend and to
act and to vote at any meetings of the stockholders of any corporation in which
the company may hold stock, and at any such meetings, shall possess and may
exercise any and all rights and powers incident to the ownership of such stock,
and which as the new owner thereof, the company might have possessed and
exercised if present. The Board of Directors, by resolution, from time to
time, may confer like powers on any person or persons in place of the President
to represent the company for the purpose in this section mentioned.
ARTICLE IV
INDEMNIFICATION
SECTION 1. Every person who was or is a party or is threatened to be made a
party to or is involved in any action, suit or proceeding, whether civil,
criminal, administrative or investigative, by reason of the fact that he or a
person of whom he is the legal representative is or was a director or officer
of the corporation or is or was serving at the request of the corporation or
for its benefit as a director or officer of another corporation, or as its
representative in a partnership, joint venture, trust or other enterprise,
shall be indemnified and held harmless to the fullest extent legally
permissible under the General Corporation Law of the State of Nevada from
time to time against all expenses, liability and loss (including attorneys'
fees, judgments, fines and amounts paid or to be paid in settlement)
reasonably incurred or suffered by him in connection therewith. The expenses
of officers and directors incurred in defending a civil or criminal action,
suit or proceeding must be paid by the corporation as they are incurred and
in advance of the final disposition of the action, suit or proceeding upon
receipt of an undertaking by or on behalf of the director or officer to repay
the amount if it is ultimately determined by a court of competent jurisdiction
that he is not entitled to be indemnified by the corporation. Such right of
indemnification shall be a contract right which may be enforced in any manner
desired by such person. Such right of indemnification shall not be exclusive
of any other right which such directors, officers or representatives may have
or hereafter acquire and, without limiting the generality of such statement,
they shall be entitled to their respective rights of indemnification under any
bylaw, agreement, vote of stockholders, provision of law or otherwise, as
well as their rights under this Article.
SECTION 2. The Board of Directors may cause the corporation to purchase and
maintain insurance on behalf of any person who is or was a director or officer
of the corporation, or is or was serving at the request of the corporation as
a director or officer of another corporation, or as its representative in a
partnership, joint venture, trust or other enterprise against any liability
asserted against such person and incurred in any such capacity or arising out
of such status, whether or not the corporation would have the power to I
ndemnify such person.
SECTION 3. The Board of Directors may from time to time adopt further Bylaws
with respect to indemnification and may amend these and such Bylaws to provide
at all times the fullest indemnification permitted by the General Corporation
Law of the State of Nevada.
ARTICLE V
CAPITAL STOCK
SECTION 1. The capital stock of the company shall be issued in such manner
and at such times and upon such conditions as shall be prescribed by the Board
of Directors.
SECTION 2. Ownership of stock in the company shall be evidenced by
certificates of stock in such forms as shall be prescribed by the Board of
Directors, and shall be under the seal of the company and signed by the
President or Vice-President and also by the Secretary or by an Assistant
Secretary.
All certificates shall be consecutively numbered; the name of the person
owning the shares represented thereby with the number of such shares and the
date of issue shall be entered on the company's books.
No certificates shall be valid unless it is signed by the President or Vice-
President and by the Secretary or Assistant Secretary.
5
<PAGE>
All certificates surrendered to the company shall be canceled and no new
certificate shall be issued until the former certificate for the same number
of shares shall have been surrendered or canceled.
SECTION 3. No transfer of stock shall be valid as against the company
except on surrender and cancellation of the certificate therefor, accompanied
by an assignment or transfer by the owner therefor, made either in person or
under assignment, a new certificate shall be issued therefor.
Whenever any transfer shall be expressed as made for collateral security and
not absolutely, the same shall be so expressed in the entry of said transfer
on the books of the company.
SECTION 4. The Board of Directors shall have power and authority to make all
such rules and regulations not inconsistent herewith as it may deem expedient
concerning the issue, transfer and registration of certificates for shares of
the capital stock of the company.
The Board of Directors may appoint a transfer agent and a registrar of
transfers and may require all stock certificates to bear the signature of
such transfer agent and such registrar of transfer.
SECTION 5. The Stock Transfer Books shall be closed for all meetings of the
stockholders for the period of ten days prior to such meetings and shall be
closed for the payment of dividends during such periods as from time to time
may be fixed by the Board of Directors, and during such periods no stock shall
be transferable.
SECTION 6. Any person or persons applying for a certificate of stock in lieu
of one alleged to have been lost or destroyed, shall make affidavit or
affirmation of the fact, and shall deposit with the company an affidavit.
Whereupon, at the end of six months after the deposit of said affidavit and
upon such person or persons giving Bond of Indemnity to the company with surety
to be approved by the Board of Directors in double the current value of stock
against any damage, loss or inconvenience to the company, which may or can arise
in consequence of a new or duplicate certificate being issued in lieu of the
one lost or missing, the Board of Directors may cause to be issued to such
person or persons a new certificate, or a duplicate of the certificate, so
lost or destroyed. The Board of Directors may, in its discretion refuse to
issue such new or duplicate certificate save upon the order of some court
having jurisdiction in such matter, anything herein to the contrary
notwithstanding.
ARTICLE VI
OFFICES AND BOOKS
SECTION 1. The principal office of the corporation, in Nevada shall be at
1016 Howard, Las Vegas, Nevada, 89104 and the company may have a principal
office in any other state or territory or change the location of this office as
the Board of Directors may designate.
SECTION 2. The Stock and Transfer Books and a copy of the by-laws and
Articles of Incorporation of the company shall be kept at its principal office
in the County of Clark, State of Nevada, for the inspection of all who are
authorize or have the right to see the same, and for the transfer of stock.
All other books of company shall be kept at such places as may be prescribed
by the Board of Directors.
ARTICLE VII
MISCELLANEOUS
SECTION 1. The Board of Directors shall have power to reserve over and above
the capital stock paid in, such an amount in its discretion as it may deem
advisable to fix as a reserve fund, and may, from time to time, declare
dividends from the accumulated profits of the company in excess of the amounts
so reserved, and pay the same to the stockholders of the company, and may also,
if it deems the same advisable, declare stock dividends of the unissued capital
stock of the company.
6
<PAGE>
SECTION 2. No agreement, contract or obligation (other than checks in
payment of indebtedness incurred by authority of the Board of Directors)
involving the payment of monies or the credit of the company for more than
Five Thousand dollars, shall be made without the authority of the Board of
Directors, or of the Executive Committee acting as such.
SECTION 3. Unless otherwise ordered by the Board of Directors, all
agreements and contracts shall be signed by the President and the Secretary
in the name and on behalf of the company, and shall have the corporate seal
thereto affixed.
SECTION 4. All monies of the corporation shall be deposited when and as
received by the Treasurer in such bank or banks or other depository as may
from time to time be designated by the Board of Directors, and such deposits
shall be made in the name of the company.
SECTION 5. No note, draft, acceptance, endorsement or other evidence or
indebtedness shall be valid or against the company unless the same shall be
signed by the President or Vice-President, and attested by the Secretary or
an Assistant Secretary, or signed by the Treasurer, and countersigned by the
President, Vice-President, or Secretary, except that the Treasurer or an
Assistant Treasurer may, without countersignature, make endorsements for
deposit to the credit of the company in all its duly authorized depositories.
SECTION 6. No loan or advance of money shall be made by the company to any
stockholder or officer therein, unless the Board of Directors shall otherwise
authorize.
SECTION 7. No director nor executive officer of the company shall be
entitled to any salary or compensation for any services performed for the
company, unless such salary or compensation shall be fixed by resolution of
the Board of Directors, adopted by the unanimous vote of all the Directors
voting in favor thereof.
SECTION 8. The company may take, acquire, hold, mortgage, sell, or
otherwise deal in stocks or bonds or securities of any other corporation,
if and as often as the Board of Directors shall so elect.
SECTION 9. The Directors shall have power to authorize and cause to be
executed, mortgages, and liens without limit as to amount upon the property
and franchise of this corporation, and pursuant to the affirmative vote,
either in person or by proxy, of the holders of a majority of the capital
stock issued and outstanding; the Directors shall have the authority to
dispose in any manner of the whole property of this corporation.
ARTICLE VIII
AMENDMENT OF BY-LAWS
SECTION 1. Amendments and changes of these by-laws may be made at any
regular or special meeting of the Board of Directors by a vote of not less
than all of the entire Board, or may be made by a vote of, or a consent in
writing signed by the holders of fifty one (51%) of the issued and
outstanding capital stock.
KNOW ALL MEN BY THESE PRESENTS: That we, the undersigned, being the directors
of the above named corporation, do hereby consent to the foregoing by-laws
and adopt the same as and for the by-laws of said corporation.
IN WITNESS WHEREOF, we have hereunto set our hands this 1st day of March 1997.
/s/ Steven Yeich
----------------
Steven Yeich
President
7
<PAGE>
</TEXT>
</DOCUMENT>
MLM, Is the 1.8M shares in addition to the following reported in the lasted 10Q? (actually, this is 2.6M shares):
On August 28, 2008, we issued 1,400,000 common shares to Brian Ettinger for consulting services valued at $140,000.
On August 28, 2008, we issued 400,000 common shares to Lincoln Jones for advisory board services valued at $28,000.
On August 28, 2008, we issued 400,000 common shares to James McCoulloch for advisory board services services valued at $28,000.
On August 28, 2008, we issued 400,000 common shares to Richard Westfahl for advisory board services services valued at $28,000.
Has anybody else checked how many more shares they can issue before they exceed the currently authorized 100,000,000?
In the 10-Q they report that as of Nov 17 they have issued 97,490,981 shares. The 10-Q also reports 1,054,940 potentially dilutive shares. These sum to 98,545,121, which means that there are only 1,454,879 left to issue before they reach 100,000,000.
At the latest close of 0.025, this would fetch a whopping $36,371.97.
It's time to do a reverse split or else close up shop.
Another all time low close and intraday.
Management requires additional time to consult with its accountants concerning the proper method of income recognition.
That's the reason given in the notification of late filing.
I guess we'll have to wait until later this week to know how may shares are left.
The 10Q is late again. Surprised?
The 10Q is due Friday so we'll soon know everything. right?
How many times can a dead cat bounce?
Ouch. All time low close ($0.059) Friday. Also an all time mid-day low ($0.050).
What are the predictions for the close next week?
10-Q is out. 93,665,981 shares issued as of June 30.
QBIT did a 1:20000 reverse split, decrease their authorized shares from 3 billion to 2.5 billion, changed their symbol to QBII, is trading between 2 and 3 (dollars) and just had two major PRs (see below).
pretty cool stuff.
Quantum Bit Announces Technology Transfer
HOUSTON, TX -- (MARKET WIRE) -- 07/15/08 -- Quantum Bit Induction Technology, Inc. (PINKSHEETS: QBII) announced today the technology transfer of a proprietary Nuclear Hydrogen Generation Device to Mustang Performance HQ, Inc. (PINKSHEETS: MPFH) for refinement and commercialization.
The Nuclear Fusion Electrolysis Device (NFED) is an affordable and efficient automotive aftermarket product that increases horsepower and reduces fuel consumption in internal combustion engines, both gasoline and diesel.
The NFED fits under the hood of the vehicle and utilizes the engine heat and available DC current to initiate low energy nuclear reactions and break to break the molecular bond between Hydrogen and Oxygen, freeing each to be injected in to the combustion chamber along with the petroleum to increase power and reduce engine heat resulting in reduced fuel consumption and a smoother running longer lasting engine. The device promises to be economical to purchase, simple to install and has no moving parts to wear out. The consumable component is water.
Mustang Performance HQ, Inc. (PINKSHEETS: MPFH) is an after market automobile performance and appearance facility specializing in the Ford Mustang and similar "muscle car" enthusiast market. With the emphasis on "performance," the client base is growing for cars of all makes and vintages.
Mike Clifton has established a well deserved reputation for quality work and fair prices in a business sector not famous for garnering positive accolades. The company estimates that 83.5% of their new business comes from satisfied customer referrals. Clifton reports, "We have been more than doubling our production yearly and an end to that production curve is not yet in sight. We thrive on restoring and returning cars to the road that others gave up on, but 'Performance' is our middle name. That said, the NFED is the most exciting, practical and economical device we have seen to date."
MPH, Inc (PINKSHEETS: MPFH) has established an equity relationship with Quantum Bit Induction Technologies, Inc. (PINKSHEETS: QBII), a technology development company focused on practical innovative applications of quantum technologies including power and propulsion.
Investors are cautioned that the company is small and is working in highly speculative and very technical areas. Investors should become informed about our company, philosophy, and mission before investing. The statements made in this release are based on the information available to the company at the time of release. Any forward-looking statement or opinion contained in this release is accurate to the best of our knowledge.
Contact:
Quantum Bit Induction Technology, Inc.
Pete McCain
Secretary
281-360-6336
............
Quantum Bit to Offer Gas-Saving Nuclear Devices
HOUSTON, TX -- (MARKET WIRE) -- 05/23/08 -- Quantum Bit Induction Technology, Inc. (OTC: QBII) (OTC: QBITB) announces plans to offer to the public nuclear-powered automotive fuel-saving devices. The company plans to introduce its first fuel-saving product for vehicles in coming days. The product is being developed in cooperation with Michael McDonnough of Remington Ventures, Inc. The company plans to sell the product in cooperation with Mustang Performance Headquarters, Inc.
Following years of investigation, the company possesses a logical and tenable physics model that explains the performance of "hydrogen generators" that claim to reduce fuel consumption dramatically. Company president, Mike Skillern, summarized, "There are many devices that claim more gas (HHO) production than electricity input. We believe the gas production surplus is nuclear in origin, fusion specifically. Everyone knows that you will produce more gas from steam than cold water for fixed electrical input. Low-level nuclear reactions in water would produce steam were it not for the electric field that is present. Since the electric field is present, the ions separate, the water cools rather than heats, and the gas production is large enough to defy high school physics. Of course, I suppose that's why college physics exists."
The company is working to amplify gas production by focusing on the suspected nuclear reactions. Said Skillern, "We believe tailored electric signals, higher operating voltages, resonance, and other effects can be inexpensively incorporated into a device which will result in much more gas production for fixed electrical input. With work and attention the gas production could be adequate to entirely power a vehicle without burning hydrocarbons. Until then, we will simply strive to lower gasoline dependence of vehicles."
Anyone interested in joining our effort to power existing vehicles with nuclear energy in a safe, clean, electrically controlled way should contact the Company. We invite inquiries from all interested parties and we appreciate any offers to assist with our work. We are driven to end any reliance on non-domestic oil and more specifically to end the hydrocarbon era of vehicle power. Concluded Skillern, "Americans love their large, comfortable, safe automobiles, SUVs, and trucks. We want to keep that love alive."
Investors are cautioned that the company is small and is working in highly speculative and very technical areas. Investors should become informed about our company, philosophy, and mission before investing. The statements made in this release are based on the information available to the company at the time of release. Any forward-looking statement or opinion contained in this release is accurate to the best of our knowledge.
Please visit: http://www.quantumbit.com/html/mobilepowersystems.html
Please contact:
Mike Skillern
President
mikes@quantumbit.com
or
Pete McCain
Corporate Secretary
pmccain@quantumbit.com
MLM, what's the current NSOL:EFTI ratio?
MLM, is that a photo of Castle Mountain in the i-box, once known as Mount Eisenhower?
Are you planning to focus on Canadian stocks?
this week for sure
The difference in the amended 10Q is that the new one includes the section from "Results of Operations" until the start of "Item 4 Controls and Procedures" (about page 9 or 10 of the 10-Q)
which includes such startling info as:
"As of March 31, 2008, we had cash and cash equivalents aggregated $11,134"
"As a result of our operating losses for the three month period ended March 31, 2008, we generated a cash flow deficit of $239,847 from operating activities. "
": The Company incurred a net loss of ($1,257,579) for the three months ended March 31, 2008, compared with a net loss of ($1,017,119) for the three months ended March 31, 2007, which reflects a year-to-year increase in the amount of loss for the period of $240,460. "
"Interest expense increased from $40,559 for the three months ended March 31, 2007 to $252,599 for the three months ended March 31, 2008. "
"The Company reported revenues of $0 from our existing technology licence agreement, for the three months ended March 31, 2008"
Is this the current transfer agent? It's different that what is in the I-box.
Transfer Agent and Registrar
The Transfer Agent for the shares of common voting stock of the Company is:
Standard Transfer & Trust Company, Inc.,
9030 W. Sahara, #529,
Las Vegas, NV 89117,
(702) 869-5757.
source:
http://secfilings.nasdaq.com/filingFrameset.asp?FileName=0001116112%2D00%2D500001%2Etxt&FilePath=%5C2000%5C11%5C16%5C08%5C&CoName=STOCK+WATCHMAN+INC&FormType=10SB12G&RcvdDate=11%2F16%2F2000&pdf=
11/16/2000 SEC filing by stockwatchman - form 10SB12G
2/27/2001 SEC filing by stockwatchman - form 10SB12G/A
3/15/2001 SEC filing by stockwatchman - form 10SB12G/A
(update - this might be more recent address and phone)
Standard Transfer & Trust Co., Inc.
2980 S. Rainbow Blvd., #220 H
Las Vegas, NV 89146
Telephone: 702-212-3493.
Facsimile: 702-212-3694
docshazam,
Go to NV secretary of state corporate search site
https://esos.state.nv.us/SOSServices/AnonymousAccess/CorpSearch/CorpSearch.aspx
do an Entity search for "inter americas"
pick the first one on the list.
that should take you here
https://esos.state.nv.us/SOSServices/AnonymousAccess/CorpSearch/CorpDetails.aspx?lx8nvq=MjIOWH27MI6g5JkdoonaSg%253d%253d
gator
answer to 2) is Nevada
lowtax, the reason the filing of 4/29 is 222 pages is likely because the Resident Agent has over 18000 clients and they probably all are listed.