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Warning here!!
TMEN--Thermoenergy
This company is out of business!!
The website is expired.
Letters have gone out to all creditors.
How can anyone say to buy this?
Do a little research and you will see.
This company does not exist any more.
My guess is some still own shares and are trying to stick them on someone else. Much like a "pump and dump"
Don't buy this unless you want to lose your money. IMO.
It doesn't mean they didn't either.
"cease operations"
This is like a big jigsaw puzzle.
You look at one piece and it is hard to see the picture.
But then you put the pieces together.
They borrowed huge sums at high interest
They went in default of that debt and loans
They stopped filing any SEC reports
They stopped any PRs
They reduced their workforce
The headquarters has a for lease or for rent sign
The phone does not ring
The Website is down
Key personnel have left, ones who would be the last
It seems that there are enough pieces falling together to figure this out.
I guess it can be debated here for months because we may never know much for absolute. They just seemed to have "cease operations" with not enough assets to warrant filing bankruptcy.
Message boards can say anything too.
The Linkdyn page has the backing of...
1) website a blank white page
2) The phone number does not work
3) The e-mail is not answered
That all seems to back up the fact that The man is looking for work because Thermoenergy has ceased operations.
They cut personnel months ago to save money, but the money ran out.
Can anyone name one concrete thing that shows Thermoenergy is in business in any way?
Those things shown are what TMEN was trying to do. They were unsuccessful. Those are old ads...call and see.
This is the current situation as best can be worked out...
TMEN ran out of money. The stock price is so low they could no longer offer shares and warrants to investors to fund the operation as they did in the past.
Then they had two investors loan them money. They defaulted on the loans and owe over $9 million dollars and it is growing at a rate of 18% a year.
After that money ran out they could no longer even pay salaries or keep up the website. They laid everyone off.
The COO/CFO Landegger left the company. The HR/IT man posted that TMEN ceased operation on his Linkdyn page.
If you call their phone number it doesn't ring.
If you e-mail them, there is no response.
Their website is a blank page.
What has been updated?...
on the ITEA site?
The latest news is dated in 2012 and the results of the tests that failed last year are not mentioned. That would be proof of an update.
The phone number is TMEN's and there is a dead dial tone when you call it.
My e-mail requests have gone unanswered, both to there and to TMEN.
I believe the site administrator maintains the site and shows the current date for copy righting...that does not mean any information on it is updated.
What do you see on it as updated? You stated that as an argument that they are doing something.
"with successgful completion...
In reference to post #1005 about successful completion of the testing and the possible $10-$20 million dollars to further the project for OXYIfuel project...
Unfortunately they stated in the 10Q report in May 2014 that the test failed and there will be no continuation.
____________________________________________________________
Itea commissioned the equipment in the first quarter of 2014 and commenced testing. The equipment was unable to complete all scheduled tests satisfactorily and was shut down after two brief tests on one type of coal. Neither of the tests were conducted using our technology. We expect the final test results from Georgia Tech in the second quarter of 2014. Once received, Itea will review the test results and, pending their analysis and response, a determination will be made on the future of UPA.
_____________________________________________________________
Also, The Thermonenegy website has shut down and they seem to have ceased operation.
How can anything else happen?
There are no workers, management, etc.
Sorry to give the bad news, but they did not even update their website about the failure of the testing, so few even seem to know that it failed.
Thermoenergy website suspended
They probably didn't pay the annual fee required to host the website.
You could read it much cheaper here.
Sign up and then chose a plan, such as $1/day for access.
http://www.studymode.com/essays/Global-Produced-Water-Treatment-Systems-Market-67733278.html
I saw the filing of the major holder on February 15th. Did you see that it was an amended filing? Originally filed several years ago.
That is very important for comparison. You stated that as a positive reason to buy. You better check again. That is a rookie mistake. You thought it was a new position.
I may not have posted much here but I have done a lot of stock investing. I am no greenhorn to this rodeo. I would never call buying a company like this investing.
As far as the hiring goes...How does a company that is closed for business hire?
The HR, accountant, and IT guy said "ceased operation"
That is a real, first-hand report from an ex-employee.
Thanks for responding. Good luck
I hope you can trade this successfully.
I have be doing due diligence for the last several weeks.
All I can find is that the company workers are gone and they seem to be out of business.
The only thing is a "help wanted" ad for an engineer. Who placed it, as there is no one to hire anyone and no money available to pay.
Again I ask...what are you seeing.
Even when they were filing quarterly they had no contracts for a year or so.
How can you call this a company? How can you call this an investment?
What would be the catalyst...
for increased demand and/or share price?
You posters who seem to be trading this, don't you need a driver for the stock?
Don't you need a quarterly report, or press release, or even one of those glossy pamphlets that comes in the mail?
Don't people have to hear about a company and see some positive event to want to buy it?
What will make this stock go up on Monday as one of you said?
I am probably wasting my time asking as no one seems to have any answers here about this company, that really seems to be out of business.
This is not a pump and dump, as there is no "pump"
Why are you saying those things?
I didn't know institutions bought shares in the sub pennies
What are you basing this statement on?
I did notice the volume up the last 9 days.
It appears to be seller driven due to the price action. Of course, all transactions have a buyer and a seller.
Sometimes the market maker buys at the bid and sells at the ask to make a little money.
Are you trying to day trade this?
I found this in the SEC filing on 5-15-2014
Management and our Board of Directors continue to evaluate options for funding to continue operations under our existing structure. To date, efforts to secure financing from new investors have been unsuccessful, and the likelihood that funding will be available from sources outside of those who have provided financing in previous rounds is low. We continue to fulfill customer orders and to develop our sales pipeline to generate future growth opportunities. We also continue to explore further reductions in our operating costs through the elimination of certain non-essential expenses. There can be no assurance that we will be able to book additional orders or to obtain the funding necessary to continue our operations and development activities.
_______________________________
So, based on what I have read, Thermoenergy was not able to find other investors to fund operations. Does Arthur Reynolds have money to try and start back? Does he have to file with the SEC if he loans Thermoenergy money? How can the stockholders know what is going on?
How do you know it was Arthur Reynolds
who is trying to hire someone for Thermoenergy?
Where can you contact him? Maybe he knows what is going on.
Maybe he can put out a Press Release.
Arthur Reynolds was on the board of directors
Does that give him authority to hire people? Can he sign contracts or do business?
Thermoenergy has debt in default
They have between $7 and $9 million dollars in default and accruing interest at 12% a year. How will they ever dig out of that hole?
Who is running this company?
It seems that everyone in leadership is gone. The CEO Wood left.
Then Landegger the COO and CFO left
There is a Linkdyn page that has Robert Seymour saying; "Thermoenergy ceased operations"
He listed 9 years there with service as IT,HR and accounting. He came over in the CASTion acquisition.
I am still seeing this company as out of business.
There are no bosses. The board members are not day to day workers, so they would not be at the headquarters.
Anybody know anything?
out of business?
There was a post yesterday on the Yahoo board they say someone went by and checked the TMEN office and it is closed up like they are out of business.
I am thinking it is true, so I won't be buying any stock.Plus no one even posts when you ask a question.
here is what it said by a poster called Seachange...
You may just be on to something, Wiz. After reading your post I decided to check up. here is latest news in a nut shell. According to a couple of TMEN exemployes who live in Worcester area heard that Landigger quit and went home to New York sometime in past 2 - 3 weeks. One of the guys W-2 was messed up so he tried calling the company several times to get it straightened out but no one ever answered and mailbox was full. He decided to go by in person but the building locked up. He peeked in thewindow. All furniture still there but papers scattered on floor in front office and conference room. I decided to check myself so I called Thermoenergy's office telephone numbr 10 -11 times since yesterday afternoon but always only get busy signal. So your guess is as good as any.
What is the deal with this company?
() Looking at them, they have stopped giving out any information.
Last filing was in September of 2014.
Are they out of money to operate?
I read on the Yahoo message board some things that said that this company is out of business.
Does anyone here know what business they do?
Thanks for any information.
rodeofan