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Maybe someone with a bit more experience in this area can provide some further input, but the way I see it is this....since the CTO is linked to the 10Q filed on 08/15/2016, and it is related to the Master Supply Agrrement with Cosma S.p.A. - most likely concealing the costs associated with Metoclopramideh Hydrochloride Monohydrate USP - it would be listed in the 10Q as a R&D cost. When you look under R&D in the 10Q, there is this reference...
The Company does not own or operate manufacturing facilities for the production of Gimoti, nor does it plan to develop its own manufacturing operations in the foreseeable future. The Company currently depends on third-party contract manufacturers for all of its required raw materials, drug substance and finished product for its preclinical research and clinical trials. Other than an agreement with Cosma S.p.A. to supply metoclopramide for the manufacture of Gimoti, the Company does not have any other contractual relationships for the manufacture of commercial supplies of Gimoti. If Gimoti is approved by any regulatory agency, the Company intends to enter into agreements with third-party contract manufacturers for the commercial production at that time. The Company currently utilizes a third-party consultant, which it engages on an as-needed, hourly basis, to manage its manufacturing contractors.
I suspect because it's a contractual obligation, they may want to conceal how much they're actually paying for this product because they may be renegotiating the price in preparation of their NDA submission, and the eventual (or hopeful) approval by the FDA. This isn't looking good for the shorts! It's not a matter of IF this drug will be granted FDA approval, but WHEN. Hang onto your shorts! All IMVHO of course! GLTA!
In looking at the SEC document, the way I see it is that this Confidential Treatment Order is defined here....
https://www.sec.gov/Archives/edgar/data/1403708/999999999716025950/filename1.pdf
As stated in the CTO filing on 09/23/2016, it refers specifically to Exhibit 10.3 noted in the 10Q filed on 08/15/2016. In researching this, exhibit 10.3 refers to a Master Supply Agreement filed back on May 19, 2016. Here is the gist of that filing...
This Supply Agreement (this "Agreement”), dated as of May 11, 2016 (“Effective Date”), is entered into by and between Cosma S.p.A., an active pharmaceutical ingredient manufacture corporation having a place of business at via B. Colleaoni 15/17, 24040 Ciserano, Italy (“Seller”), and Evoke Pharma, Inc., having a place of business at 505 Lomas Santa Fe Drive, Suite 270, San Diego, CA 92075 (“Buyer”). Seller and Buyer may each be referred to herein as a “Party” or, together, as the “Parties”.
Link: https://www.lawinsider.com/contracts/4KTsczceGhXcwICmMaCtoB/evoke-pharma-inc/1403708/2016-08-15 (Just click outside the register box to read this article - then scroll to the bottom)
Now, the CTO is highlighted here....at the top of this supply agreement, it reads...
CERTAIN MATERIAL (INDICATED BY AN ASTERISK) HAS BEEN OMITTED FROM THIS DOCUMENT PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT. THE OMITTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.
The asterisk they mention (I believe) is related to the cost of:
Product(s): Metoclopramide Hydrochloride Monohydrate USP
1.Product will be sold by Seller to Buyer at a cost of $[***] during the Initial Term of the Agreement.
To sum up the CTO, it appears that they have concealed the cost associated with this product. I am up for anyone wanting to fact-check this. This conclusion is only my opinion, based on my own due diligence.
I got in early this am after I looked at the media schedule of the infomercial on their website. This will be seen nationally...on FitTV too. I watched the infomercial on their website. I thought it was a decent quality video. It matches the quality of some of the more popular infomercial brands. Vist their website and click on the tab that shows where to find the product. If you click the company's home state, it's sold in major supermarkets, 7-11's, etc. The design cap is unique and interesting. I can see people buying this product. I expect some anticipation heading into the national infomercial launch on 11/11/11. GLTA!
http://www.hardnutrition.com/
TV Infomercial Schedule
http://www.hardnutrition.com/tv/media-schedule.html
Final Infomercial
http://www.hardnutrition.com/tv
Where it's sold in Colorado
http://www.hardnutrition.com/retail-locator/colorado-locations.html
They're working on the site as we speak. It should be launched relatively soon...IMO.
I was referring to the address in Nevada he posted. I meant relatively new as a publicly traded company. Alot of these publicly traded companies choose Nevada for the reasons stated in the link I previously posted.
I sell on ebay and I know for certain this market is extremely popular. Ebay's fees have become rediculous. If done right, this could be a popular website. The site will be up and running relatively soon, too!
That is not very unusual....why?
Read this article and you'll see that it's a very common thing to do for start-up companies like this.......
http://www.qwoter.com/college/going-public/how-to-incorporate-in-nevada.html
A great explanation........
Future trades will be trade-for-trade
http://www.dtcc.com/downloads/legal/imp_notices/2011/nscc/a7238.pdf
Here's a great explanation....
http://www.justanswer.com/finance/4olnl-hello-i-question-relating-securites-trading.html
I think it'sd trading as usual for us on Tuesday. Just no shorts playing the game because they'll need to have the shares!
I called TDAmeritrade, too....and all if OK. Clearly an issue with ScottTrade, not SFIO. No worries here.
Investors....not shareholders. I don't think this affects us whatsoever. At least that's how I am reading it. There was a similiar headline in April and it tied the article into a small group of investors?
Well said! But I am not sure all of that volume EOD friday was related to that? It's possible, but I think there is more to it? It seems to me that the evidence is stacking up against them, and the pressure is on to settle....or the truth will be revealed. They do not want the truth coming out, so I still think we will see some sort of offer in the very near future?
Who knows if it will happen, but it just seems to me that with the recent ruling out of DC, the stance Aurelius is now taking by laying the foundation for "an innocent victim" approach, the talks breaking down, and the depos being rescheduled...there seems to be alot of evidence going in our favor?
I think things are going to get VERY interesting this week....
IMVHO of course!
Not sure if this link has been posted yet....a lot of posts this afternoon, so my apologies if it has been...VERY INTERESTING though :) The HEAT is on! IMVHO of course!
Click the link and then click on American National Insurance Company.
http://www.cadc.uscourts.gov/internet/opinions.nsf/OpinionsByMonday?OpenView&StartKey=2011062011062024&Count=4&scode=0
It sounds like they are finally throwing up the white flag realizing that the walls are crumbling around them.
In this June 20th article, I find these comments interesting....
Aurelius Balks At Renewed Probe In Washington Mutual Bankruptcy
...Aurelius Capital Management, one of the big hedge funds accused of benefiting from insider trading in the bankruptcy case of Washington Mutual Inc., says it's the victim of a "shakedown" by the committee representing aggrieved investors.
...The $2.5 billion hedge fund, led by former bankruptcy lawyer Mark Brodsky, says a shareholder-driven investigation into the possibility that it engaged in insider trading is a "malicious witch hunt" designed to force a settlement with the shareholders committee.
..."The motion to compel would multiply the millions of dollars in unfair expense and burden already placed upon Aurelius to date by this groundless shakedown operation and is calculated only to create an excuse to delay confirmation proceedings indefinitely until a ransom is extorted," Aurelius's lawyers said in a bankruptcy-court filing.
LMFAO!
Click below to read the entire article.....
https://www.fis.dowjones.com/WebBlogs.aspx?aid=DJFDBR0020110620e76k000b7&ProductIDFromApplication=&r=wsjblog&s=djfdbr
In today's article, they are quoted saying...
...it [Aurelius] "received material non-public information...only in limited circumstances while taking appropriate precautions to avoid improper trading."
Hmmmm? Fist you're the victim of a shakedown by the EC, then it's extortion, and now you admitting that you were provided with "...material non-public information" OHHHH wait "only in limited circumstances..." What a bunch of jacka**es these guys are!
I find it coincidental that Aurelius is becoming so vocal just days prior to the other three depos? It seems very suspicious to me? Anyway, this story is finally starting to heat up! I think that jail is becoming all-to-much of a reality for them, and they're gonna start pointing fingers. Aurelius is just the first to start.
As I said, I want the depos done...regardless! I want every little detail of how corrupt these guys really are! WAMU has been touted as the largest bank ever to fail in the US, so when this fraud is finally exposed....hopefully the healdines will be just as big!
Unfortunately, I think the writing is on the wall and we'll see some some of deal struck before the truth is told. Maybe I'm wrong, but I just don't see them allowing the truth to come out. In the end, like always....money talks!
All IMVHO of course! Good luck fellow WAMUuuERS!
I like this one better....
Project Manager....just posted yesterday.
http://jobsearch.monster.com/Sunvalley-Solar-Inc__2e_6
http://greenjobs.greenjobsearch.org/a/jobs/find-jobs/q-sunvalley/l-Irvine%2C+CA
Wow, that was tough to read. Yea, SSOL is mm's favorite stock? That's is the funniest thing I have read on IHUB? The funniest thing is I think you really believe yourself? I bet they're making a killing on this one?
You can delete my post so it's not misleading. I missed those. Thanks guys.
There's gonna be a lot of finger pointing the next week or so! Can't wait....lol! IMO
hmmmmmmmmmmm? Wasn't he the same author who broke with the Nate Thoma article last friday? I thought it was first published in the WSJ? They seem to be bringing some attention to WAMU.
Let the hammer drop on these criminals!!!!
I am actually glad they will finally be deposed. The truth needs to be exposed in the case! These guys are all criminals and hopefully they will be going to jail when the truth comes out. I suspect this may sweeten the deal a bit...and force tougher negotiations.
As like many here, I don't care what happens short term.....these depositions NEED to be done, to make sure the HEDGIES are held accountable! Personally, I can't wait to hear what's exposed in these depos.
Maybe this will be our headline someday??????
http://www.startribune.com/business/123787484.html
Insider trading case jury convicts 3
Zvi Goffer, a trader nicknamed "Octopussy" because his arms reached into so many sources of information, was found guilty of insider trading Monday as part of a government crackdown on insider trading at hedge funds. A jury convicted Goffer and two accused co-conspirators, Michael A. Kimelman and Goffer's brother Emanuel Goffer, in U.S. District Court in New York. Each faces up to 25 years in prison.
Welcome aboard!
Look at his post history....every stock is always falling according to him.
It's only a matter of time before people realize that this penny is legit! The contracts are gonna keep coming.....IMO! I still feel the CHINA connection will be a big factor in SSOL! Just my opinion, though!
Good point......great time for a reminder of that!
Proof that they're making good on the PR's. They said they're hiring, which seems to be true. They are also sub-contracting some work out, which means that they have more work than they can handle. I am assuming the contracts are coming in quicker than anticipated.
I like their emphasis on 100% customer satisfaction in their ad!
http://jobs.homeofsolarenergy.com/a/jobs/find-jobs/q-Sunvalley+Solar
They are really advertising these jobs! There are many different solar websites they're advertising on!
Electrician
Sunvalley Solar Inc.
(Walnut, California) Posted:May 23, 2011
Address:398 Lemon Creek Drive # A WalnutWalnut, CA 91789Occu:
Technical Type:Full-time Description:
Sunvalley Solar Inc. is currently looking for exceptional electrician to work in the field and in office to support the engineering staff. The ideal candidate should thrive in creativity, teamwork and have a positive attitude.
The responsibilities for the electrician include:
Organize, lead and train crews to complete projects on time;
Ensure the quality of work and reinforce safety on job site;
Work with the engineer and city officials to resolve issues on the job site;
Relate to customer and ensure 100% customer satisfaction;
Submit & pickup permit packages at building departments;
Assist engineering department with the design of the PV system.
Sunvalley Solar Inc. will provide a great working environment and expose the candidate to full range of experiences in the solar industry. We also emphasize on personal growth within the company and encourage a creative and fun working environment. The compensation includes health benefit, base salary, plus hourly rate in the field.
Job Requirement:
Certified California Journeyman Electrician;
Five years of experience;
Knowledge of the solar industry is a plus;
Have full range of mobility in upper and lower body;
Be able to work in various position including, but not limited to stooping, standing, bending over, sitting, kneeling and squatting for extended period of time;
Be able to lift, pull and push materials and equipment to complete assigned job tasks;
Experience with electrical work involving wiring up to 600 VDC & 480 VAC;
Clean driving record;
Ability to read plans and electrical diagram;
Creative, enthusiastic, and great personality.
Send your resume via E-mail, no phone calls please !!!
Electrical Engineer
Sunvalley Solar Inc.
(Walnut, California) Posted:May 23, 2011
Address:398 Lemon Creek Drive # A, WalnutWalnut, CA
91789Occu:Technical Type:Full-time Description:
Sunvalley Solar Inc. is currently looking for exceptional electrical engineer who is thrive in creativity, teamwork and have a positive attitude.
The responsibilities for the electrical engineer include:
Design and create electrical drawings for solar system for commercial & residential;
Respond to customer inquiries and job site visits;
Follow up with the project from beginning to end;
Provide field support to electrician and installer;
Research for any solar related topics;
Sunvalley Solar Inc. will provide a great working environment and expose the candidate to full range of experiences in the solar industry. We also emphasize on personal growth within the company and encourage a creative and fun working environment. The compensation includes health benefit, salary, and bonus based on performance and experience.
Job Requirement:
Bachelors Degree from reputable University;
Five years of experience in electrical engineering;
Knowledge of the solar industry and construction background is a plus;
Great writing and oral communication skills;
Ability to work under stress and able to meet the deadline;
Ability to work with minimal supervision;
Clean driving record;
Proficient with AutoCAD, Microsoft office and PC operating system;
Creativities, enthusiastic, and great personality.
Send your resume via E-mail or fax, no phone calls please !!!
Contact:James Zhang
"...potential value of approximately $2.85M" NICE!!!! This company is legit! These contracts are going to become very common for SSOL....IMO! This is just the beginning of what's to come. That's why they recently hired the PR firm.
IMVHO!
BIG NEWS!!!!!!!!!!!!!!!
Sunvalley Solar Receives Letters of Interest for Over 600 Kilowatts of Solar Installation Projects
Sunvalley Solar, Inc. (OTC QB: SSOL), a leading provider of solar power technology and solar integration systems, announced that it received new non-binding Letters of Interest for 604.84 kilowatts of solar installation projects for 2012 from three Southern California customers.
Sunvalley Solar continues to aggressively promote its thin film technology solar system solutions by leveraging the incentives from the Federal Government (30% of the project cost as a Federal Tax Cash Grant) and solar rebate programs from the utility company, and by capitalizing on Sunvalley's own client-financing plan. On June 7th, Sunvalley received new non-binding Letters of Interest for over 600 kilowatts of solar installation projects with a potential value of approximately $2.85M from CGM Development, PGI Pacific Graphics, and PTP Inc. in the Los Angeles area. Definitive contracts are under negotiation.
About Sunvalley Solar, Inc.
Sunvalley Solar, Inc. is a leading solar system solution provider that offers comprehensive solar energy technology, system design, installation, equipments, and technical support for electrical contractors, builders, homeowners, businesses/commercial buildings, and government entities that assist them in lowering of utility bills, reducing environmental impacts, and increasing energy reliability and independence through solar energy. Located in Los Angeles, California, Sunvalley Solar, Inc. is committed to reducing the world's carbon foot print from traditional energy sources to make renewable sources such as solar the nation's mainstream source of power.
To learn more, visit www.sunvalleysolarinc.com.
Forward-Looking Statement: The statements in the press release that relate to the Company's expectations with regard to the future impact on the Company's results from acquisitions or actions in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements in this document may also contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those contained in such statements. Such risks, uncertainties, and factors include, but are not limited to, future capital needs, changes, and delays in product development plans and schedules, or market acceptance.
Wow, I was away the past few days and I just read the WSJ article. Great News! This exposure should make for a very interesting Monday. We all know how fast it moved up a few weeks ago on the run to .23. I think we may see a similiar spike upwards tomorrow....just not sure we'll see .23?
Should be a very exciting opening bell for WAMU! Get your shares early!
ALL IMVHO, of course! Good luck to all!
Where do you see large "huge" sell orders between .014 and .016 today? I use IHUB trades and I do not see it? If you search SSOL in IHUB and the at the top of the page click "trades"....you can see the buy vs sell. The buy vs sell was split almost 50/50? In fact, I see a lot of buys between .014 and .0154 because we never hit .016? The highest bid I can find with a sell order is .0142? And that was for 10,000 shares? Anything else above .014 is a buy order...according to the data I am reviewing?
Please post where you see a HUGE number of sell orders and I will look to see if I can explain.
Remember, we had a big day on Monday....100 million plus. I have found that "flippers" like myself follow these big volume penny stocks looking to make a 10-20% quick. It's possible that some were still holding hoping for a quick buck, but today the volume was not there. There were only 119 trades all day from what I can see. Flippers may have bought on yesterday's PR, but nothing happened the to the pps, so they may have exited today?
IMO....today's buy vs sell was spot on. Sure, I would like to see all buys...but it doesn't always work that way.
If you do thorough DD, you may be able to make a decision to stay or sell. Never rely in IHUB because most of us here are flippers, and many will post anything to make someone buy or sell a stock....depenidng on what will benefit them!
Good Luck!
All IMHO of course!
Proof that they're making good on the PR's. They said they're hiring, which seems to be true. They are alos sub-contracting some work out, which means that they have more work than they can handle. I am assuming the contracts are coming in quicker than anticipated.
I like their emphasis on 100% customer satisfaction in their ad!
http://jobs.homeofsolarenergy.com/a/jobs/find-jobs/q-Sunvalley+Solar
They are really advertising these jobs! There are many different solar websites they're advertising on!
Electrician
Sunvalley Solar Inc.
(Walnut, California) Posted:May 23, 2011
Address:398 Lemon Creek Drive # A WalnutWalnut, CA 91789Occu:
Technical Type:Full-time Description:
Sunvalley Solar Inc. is currently looking for exceptional electrician to work in the field and in office to support the engineering staff. The ideal candidate should thrive in creativity, teamwork and have a positive attitude.
The responsibilities for the electrician include:
Organize, lead and train crews to complete projects on time;
Ensure the quality of work and reinforce safety on job site;
Work with the engineer and city officials to resolve issues on the job site;
Relate to customer and ensure 100% customer satisfaction;
Submit & pickup permit packages at building departments;
Assist engineering department with the design of the PV system.
Sunvalley Solar Inc. will provide a great working environment and expose the candidate to full range of experiences in the solar industry. We also emphasize on personal growth within the company and encourage a creative and fun working environment. The compensation includes health benefit, base salary, plus hourly rate in the field.
Job Requirement:
Certified California Journeyman Electrician;
Five years of experience;
Knowledge of the solar industry is a plus;
Have full range of mobility in upper and lower body;
Be able to work in various position including, but not limited to stooping, standing, bending over, sitting, kneeling and squatting for extended period of time;
Be able to lift, pull and push materials and equipment to complete assigned job tasks;
Experience with electrical work involving wiring up to 600 VDC & 480 VAC;
Clean driving record;
Ability to read plans and electrical diagram;
Creative, enthusiastic, and great personality.
Send your resume via E-mail, no phone calls please !!!
Electrical Engineer
Sunvalley Solar Inc.
(Walnut, California) Posted:May 23, 2011
Address:398 Lemon Creek Drive # A, WalnutWalnut, CA
91789Occu:Technical Type:Full-time Description:
Sunvalley Solar Inc. is currently looking for exceptional electrical engineer who is thrive in creativity, teamwork and have a positive attitude.
The responsibilities for the electrical engineer include:
Design and create electrical drawings for solar system for commercial & residential;
Respond to customer inquiries and job site visits;
Follow up with the project from beginning to end;
Provide field support to electrician and installer;
Research for any solar related topics;
Sunvalley Solar Inc. will provide a great working environment and expose the candidate to full range of experiences in the solar industry. We also emphasize on personal growth within the company and encourage a creative and fun working environment. The compensation includes health benefit, salary, and bonus based on performance and experience.
Job Requirement:
Bachelors Degree from reputable University;
Five years of experience in electrical engineering;
Knowledge of the solar industry and construction background is a plus;
Great writing and oral communication skills;
Ability to work under stress and able to meet the deadline;
Ability to work with minimal supervision;
Clean driving record;
Proficient with AutoCAD, Microsoft office and PC operating system;
Creativities, enthusiastic, and great personality.
Send your resume via E-mail or fax, no phone calls please !!!
Contact:James Zhang
Very true! I have been around penny's for a long time. I have made a lot of money on some, as well as lost a lot of money on others. I bought in on Monday and I've been adding on the dips all week. This is one of the few penny stocks that continues to PR big contracts, for a smaller company.
I read the bio's on the staff and I am convinced that there will be a China connection here in the future. SSOL has some experienced and reputable staff (from China) running the show. Also, I think that the pending patent technology will play a big part in bringing us some of that China connection!
Entered as a flipper, but my DD tells me to hold strong. They did not hire a PR firm just to burn cash! They have something up their sleeve and I want to be around to find out what it is. The future of solar energy is huge!!!!!!
As Journie posted...$1.5M contract on Monday, and now over $6.6 Million in contracts YTD.
We're only in June! At this pace, we could see over $10M in contracts just this year! And then we await the patent pending technology? I am not sure when it's expected we'll hear on that, but maybe one of the mods can provide that information?
This quote from a previous PR announcing the technology is exciting...
"This innovative design is based on Sunvalley Solar's patent pending technology. With further development, this technology could be commercialized in panel manufacturing and improve the efficiency of solar cells. The development of this technology continues to attract interest from manufacturers in China, like CEEG under China Sunergy (Nasdaq: CSUN) and Tianwei Solarfilms."
http://www.sunvalleysolarinc.com/index.php?option=com_content&view=article&id=156:sunvalley-solar-gains-manufacturer-support-to-further-patented-technology-&catid=1:company-news&Itemid=149
ALL IMVHO!
China will expand solar power
By Ben Yue (chinadaily.com.cn)
Updated: 2011-06-03 15:55
The report said the draft for the 12th Five-Year Plan period (2011-2015) has been submitted to the State Council for approval. The goal for solar power capacity generation is double that submitted in an earlier version.
Industry insiders said the plan also will promote the related industries such as polycrystalline silicon and PV component sectors, the newspaper reported.
The insiders also said China should give support to its PV industry and expand the domestic market, because it relies heavily on exports and will lose competitiveness when the importing country gives subsidies to its domestic PV sector.
http://www.chinadaily.com.cn/business/2011-06/03/content_12638846.htm
I'll defer to Journie, or MOD, but am I missing something? Add up these contracts....and there's over 7 million in contracts in just the past 8 months. I'm new, so I may be wrong?
1) Sunvalley Solar awarded another $1.375M solar contract in Thermal, CA
Sunvalley Solar announced that it has signed a commercial solar installation contract with Aqua Farming Tech, Inc. in the city of Thermal, California. The system size of this contract is 294.88 kilowatts and is comprised of 3140 solar panels from Tianwei Solarfilms and two 100KW and two 35KW solar inverters from PV Powered. The total contracted value is approximately $1.375M.
2) 15 September 2010 Sunvalley Solar awarded $3m solar installation contract
3) WALNUT, Calif., June 6, 2011 /PRNewswire/ — Sunvalley Solar, Inc. (OTCQB: SSOL), a leading provider of solar power technology and solar integration systems, announced that it has signed a 336 Kilowatt commercial solar installation contract with Diamond Wipes International Inc. in Chino, California.
The 336 Kilowatt solar power system is comprised of 3360 solar panels from Tianwei Solarfilms and two solar inverters from PV Powered. The total contracted value is approximately $1.5M.
4) January 14, 2011 12:28 PM EST
Sunvalley Sola said that Prime Time Produce, also known as Sun & Sand Enterprises, LLC, will pay $1.3 million for a solar system consisting of 285 Kilowatts of power. The system will comprise 3000 solar panels and a solar inverter. Both the solar panels and the inverter will be purchased from third party vendors.
January 11, 2011
Tianwei SolarFilms has signed a contract to supply 1.2MW of silicon thin-film modules to Sunvalley Solar for its future projects in southeastern California. The contract will not only help Sunvalley complete the US$5 million worth of installations it has lined up in Palm Springs, but also allow TianWei to increase its presence in the U.S. market.
I like all the China connections here. If this merger were to come to reality.....hold on!
Sunvalley Research & Development Team (China Connections...)
http://www.sunvalleysolarinc.com/index.php?option=com_content&view=article&id=80&Itemid=95
Blue Future, Inc (New PR Firm brought on board a week ago)
International reach
Many of our clients come to us from abroad, and we've developed many fertile relationships with people outside the United States that are friendly to entrepreneurial business. In the current climate, many of these areas are more energized than our neighbors here in the States. Thus, over the last year, we've been expanding our network of connections abroad, especially in China and the Pacific Rim; and we're establishing a presence in London, perceiving it as a gateway to the practiced and sophisticated financial markets in Europe.
http://www.bluefutureinc.com/international-reach.html
China will expand solar power
Updated: 2011-06-03 15:55
China will issue a five-year proposal to guide the country's renewable energy development, in which the goal for installed generating capacity of photovoltaic (PV) power is set at 10 gigawatts, China Securities Journal reported on Friday.
The report said the draft for the 12th Five-Year Plan period (2011-2015) has been submitted to the State Council for approval. The goal for solar power capacity generation is double that submitted in an earlier version.
Industry insiders said the plan also will promote the related industries such as polycrystalline silicon and PV component sectors, the newspaper reported.
The insiders also said China should give support to its PV industry and expand the domestic market, because it relies heavily on exports and will lose competitiveness when the importing country gives subsidies to its domestic PV sector.
I took a small position in this today because of how quickly this thing seemed to move. If the MM's wanna let this thing run, and we get the volume like we did today, this thing will fly IMO.
Exactly! It seems that BR knew he would have no need for the Confirmation Hearing dates back on May 24th.
1 THE COURT: Well, we have a hearing the 6th of June.
2 Will it be on file, do you think, by that date?
3 MR. ROSEN: That is our hope, Your Honor, yes.
If the dates (June 6th and 7th) were given up by BR on May 24th, then it seems to me that the term sheet (or at least the details) will be released by June 6th. Otherwise, he would have wanted to keep the Confirmation Hearings just in case????
The Judge asked him if it would be on file by June 6th? By cancelling those two dates, he must have felt pretty confident it would be?????
I think we'll get some details after-hours? JMHO of course!
I agree, Chaarles. I think we may see a nice run into the close in anticipation of news AH though. One would think BR would want the details to be made public before Monday's hearing. I guess we'll have to wait and see! No worries here.
Based on the fine DD of a few here, I am excited about what may be coming our way!!!!!!!!
IMVHO.
Off-Topic - sorry MODS, but I was sent this email by a friend. Lengthy, but worth reading! Thank you to all the men and women who serve this great county.....Please take a moment to remember!
MAY GOD BLESS THIS AIRLINE CAPTAIN:
He writes:
My lead flight attendant came to me and said, "We have an H.R. on this flight." (H.R. stands for human remains.) "Are they military?" I asked. 'Yes', she said. 'Is there an escort?' I asked. 'Yes, I already assigned him a seat'. 'Would you please tell him to come to the flight deck. You can board him early," I said..
A short while later, a young army sergeant entered the flight deck. He was the image of the perfectly dressed soldier. He introduced himself and I asked him about his soldier. The escorts of these fallen soldiers talk about them as if they are still alive and still with us.
'My soldier is on his way back to Virginia,' he said. He proceeded to answer my questions, but offered no words.
I asked him if there was anything I could do for him and he said no. I told him that he had the toughest job in the military and that I appreciated the work that he does for the families of our fallen soldiers. The first officer and I got up out of our seats to shake his hand. He left the flight deck to find his seat.
We completed our preflight checks, pushed back and performed an uneventful departure. About 30 minutes into our flight I received a call from the lead flight attendant in the cabin. 'I just found out the family of the soldier we are carrying, is on board', she said. She then proceeded to tell me that the father, mother, wife and 2-year old daughter were escorting their son, husband, and father home. The family was upset because they were unable to see the container that the
soldier was in before we left. We were on our way to a major hub at which the family was going to wait four hours for the connecting flight home to Virginia .
The father of the soldier told the flight attendant that knowing his son was below him in the cargo compartment and being unable to see him was too much for him and the family to bear. He had asked the flight attendant if there was anything that could be done to allow them to see him upon our arrival. The family wanted to be outside by the cargo door to watch the soldier being taken off the airplane.. I could hear the desperation in the flight attendants voice when she asked me if there was anything I could do.. 'I'm on it', I said. I told her that I would get back to her.
Airborne communication with my company normally occurs in the form of e-mail like messages. I decided to bypass this system and contact my flight dispatcher directly on a secondary radio. There is a radio operator in the operations control center who connects you to the telephone of the dispatcher. I was in direct contact with the dispatcher.. I explained the situation I had on board with the family and what it was the family wanted. He said he understood and that he would get back to me.
Two hours went by and I had not heard from the dispatcher. We were going to get busy soon and I needed to know what to tell the family. I sent a text message asking for an update. I saved the return message from the dispatcher and the following is the text: 'Captain, sorry it has taken so long to get back to you. There is policy on this now and I had to check on a few things. Upon your arrival a dedicated escort team will meet the aircraft. The team will escort the family to the ramp and plane side. A van will be used to load the remains with a secondary van for the family. The family will be taken to their departure area and escorted into the terminal where the remains can be seen on the ramp. It is a private area for the family only. When the connecting aircraft arrives, the family will be escorted
onto the ramp and plane side to watch the remains being loaded for the final leg home. Captain, most of us here in flight control are veterans. Please pass our condolences on to the family. Thanks.'
I sent a message back telling flight control thanks for a good job. I printed out the message and gave it to the lead flight attendant to pass on to the father. The lead flight attendant was very thankful and told me, 'You have no idea how much this will mean to them.'
Things started getting busy for the descent, approach and landing. After landing, we cleared the runway and taxied to the ramp area. The ramp is huge with 15 gates on either side of the alleyway. It is always a busy area with aircraft maneuvering every which way to enter and exit. When we entered the ramp and checked in with the ramp controller, we were told that all traffic was being held for us.
'There is a team in place to meet the aircraft', we were told. It looked like it was all coming together, then I realized that once we turned the seat belt sign off, everyone would stand up at once and delay the family from getting off the airplane. As we approached our gate, I asked the copilot to tell the ramp controller we were going to stop short of the gate to make an announcement to the passengers. He did that and the ramp controller said, 'Take your time.'
I stopped the aircraft and set the parking brake. I pushed the public address button and said, 'Ladies and gentleman, this is your Captain speaking I have stopped short of our gate to make a special announcement. We have a passenger on board who deserves our honor and respect. His Name is Private XXXXXX, a soldier who recently lost his life. Private XXXXXX is under your feet in the cargo hold. Escorting him today is Army Sergeant XXXXXXX. Also, on board are his father, mother, wife, and daughter. Your entire flight crew is asking for all
passengers to remain in their seats to allow the family to exit the aircraft first. Thank you.'
We continued the turn to the gate, came to a stop and started our shutdown procedures. A couple of minutes later I opened the cockpit door. I found the two forward flight attendants crying, something you just do not see. I was told that after we came to a stop, every passenger on the aircraft stayed in their seats, waiting for the family to exit the aircraft.
When the family got up and gathered their things, a passenger slowly started to clap his hands. Moments later more passengers joined in and soon the entire aircraft was clapping. Words of 'God Bless You', I'm sorry, thank you, be proud, and other kind words were uttered to the family as they made their way down the aisle and out of the airplane. They were escorted down to the ramp to finally be with their loved one.
Many of the passengers disembarking thanked me for the announcement I had made. They were just words, I told them, I could say them over and over again, but nothing I say will bring back that brave soldier.
I respectfully ask that all of you reflect on this event and the sacrifices that millions of our men and women have made to ensure our freedom and safety in these United States of AMERICA .
Prayer for our Military...
They die for me and mine and you and yours and deserve our honor and respect.
Prayer: 'Lord, hold our troops in your loving hands. Protect them as they protect us. Bless them and their families for the selfless acts they perform for us in our time of need. Amen.'
Prayer Request: When you receive this, please stop for a moment and say a prayer for our troops around the world.
GOD BLESS YOU!!!
What is the Absolute Priority Rule?
First, a word of warning: the absolute priority rule only applies in Chapter 11 bankruptcy cases and so has little consequence for the average consumer debtor. Individuals usually file Chapter 13 or Chapter 7 bankruptcy cases. However, individuals, as well a businesses, can file Chapter 11 cases and sometimes have to, such as when they want to reorganize and are over the debt limits for Chapter 13. Like in Chapter 13, a Chapter 11 debtor usually proposes a plan. The absolute priority rule comes into play when a class of similar situated creditors do not agree with the plan. The Court will only confirm a plan over the objections of this dissenting group of creditors if:
1. The dissenting creditors will be paid in full, see 11 U.S.C. ? 1129(b)(2)(B)(i), or
2. No one with a claim or interest that is junior to the claims of the dissenting creditor will get or retain anything under the plan, see 11 U.S.C. ? 1129(b)(2)(B)(ii) (called a “cramdown”).
There are controversial exceptions to this rule (such as the so-called “new value” exception which I may blog about later). However, this is the basic rule. Often the owners of a company want to retain an ownership interest in the reorganized company. In the context of a confirmation battle, the absolute priority rule prevents the retention of an equity interest by the owners if a cramdown is being proposed because the stockholders are junior to the interests of the unsecured creditors. The rule has even been applied to the exempt property of an individual in Chapter 11. This is very controversial and many believe that despite the absolute priority rule the exemption provisions of the Bankruptcy Code, 11 U.S.C. ? 522, should be interpreted to allow individuals to keep exempt property even in Chapter 11 cramdown plans.
http://www.bankruptcylawnetwork.com/what-is-the-absolute-priority-rule/
The million dollar question is whether they release the terms today, after hours. That way, BR can come back to work next tuesday hoping that everyone forgot all about it...LOL!
The anticipation should continue to build....IMVHO.
What's your logic behind that? Just curious? I would expect the anticipation to build into next friday, the closer we get to BR's timeline?
Watching L2 and there's something strange about today's trading pattern? I too have witnessed a greater number of the 200 share trades? It's quite obvious this will run if they would just allow it too? When it does, it will be quick...IMO.
Good read on Bankruptcy Tax Refunds, and it mentions WAMU as an example.
Turning Losses Into Gains: Bankruptcy Battles Over Tax Refunds
May 25, 2011
Michael DeBaecke and Tori Guilfoyle
Delaware Business Court Insider
The severe economic turmoil of recent years has resulted in a significant increase in both the number of domestic banks seized by the Office of Thrift Supervision (OTS) and the number of parent bank holding companies filing bankruptcy petitions under Title 11 of the U.S. Bankruptcy Code. These bankruptcy cases can involve hotly contested battles over the ownership of tax refunds generated from an extended carryback period now available for net operating losses (NOLs).
The Worker, Homeownership and Business Assistance Act of 2009 extended the NOL carryback period from two years to five years for taxpayers incurring losses in either 2008 or 2009. These disputes over tax refunds in bankruptcy proceedings can include the added complexity of involving the Federal Deposit Insurance Corp. (FDIC), which is normally appointed by the OTS to serve as the receiver (FDIC-receiver) for failed banking institutions.
A debtor’s bankruptcy estate is composed of, at least in part, "all legal and equitable interests of the debtor in property as of the commencement of the case," according to 11 U.S.C. § 541(a)(1). As reflected in this expansive language, Congress intended a broad range of property to be included in property of the estate, as seen in United States v. Whiting Pools Inc.
Not surprisingly, bankruptcy courts may be called upon to determine who is permitted to claim available tax refunds resulting from the extended carryback period for NOLs. Depending on the facts of a particular case, the available tax refunds at issue may range from tens of millions to billions of dollars.
The extended period for NOL carrybacks affords creditors a golden opportunity to obtain a recovery in the form of a substantial tax refund. The availability of such a valuable asset has not been lost on FDIC-receivers, which are with apparent increasing frequency trying to assert ownership over some or all of the available tax refunds resulting from NOL carrybacks. In recent cases, FDIC-receivers have sought to file competing tax returns on behalf of the seized non-debtor bank — that utilize NOLs to offset gains of the seized bank in prior tax years.
To simplify the tax reporting process and perhaps take advantage of certain tax benefits afforded by the Internal Revenue Code, parent companies may elect to file consolidated tax returns for themselves and their subsidiary/affiliate companies. In doing so, the parent company and affiliates may enter into a tax sharing agreement (TSA). Under some TSAs, the parent company maintains the sole discretion to, among other things, determine the manner in which tax returns are prepared and filed. These TSAs may require subsidiaries to calculate any tax owed and pay the corresponding amounts to the parent companies, which, in turn, make tax payments to the IRS. Likewise, with respect to refunds, some TSAs can create contractual obligations on the part of the parent corporations to pay affiliated group members a share of tax refunds received from the IRS.
Absent settlement agreements between the FDIC-receiver, debtors or bankruptcy trustees, and other parties-in-interest such as official committees of unsecured creditors, bankruptcy courts may be called upon to analyze under state law whether a TSA creates a debtor-creditor relationship or a fiduciary (trustee-beneficiary) relationship between the debtor/parent and its failed subsidiary bank.
The distinction can be meaningful. If the TSA creates a trustee-beneficiary relationship, such as when tax payments and refunds are to be held in escrow by the parent for the benefit of its subsidiary, FDIC-receivers have argued the available tax refund should be deemed property of the seized bank and not property of the bankruptcy estate. Conversely, if the TSA does not contain language creating a trustee-beneficiary relationship, it is argued on behalf of the bankrupt parent’s estate that the TSA creates a debtor-creditor relationship and, therefore, any tax refunds received by the debtor parent company constitute property of the estate under Section 541(a)(1) of the Bankruptcy Code. See Zucker v. FDIC (In re Netbank Inc.), granting summary judgment in favor of debtor bank holding company because subject TSA provisions established debtor-creditor relationship. The court also concluded that the FDIC-receiver violated the automatic stay in attempting to secure the tax refund for itself.
Far from being an academic argument, the battles over NOLs, TSAs and the right to receive and distribute available tax refunds are shaping up as a central question to be answered in some bankruptcy cases. Several bankruptcy cases currently pending in the Delaware Bankruptcy Court involve substantial tax refunds generated in large part by NOLs.
For example, Judge Mary F. Walrath presides over In re Washington Mutual Inc, et al., where it is estimated that tax refunds will exceed $5.5 billion, largely as a result of the expanded NOL carryback period. In Washington Mutual, the debtors, the FDIC as receiver for Washington Mutual Bank, and JP Morgan Chase Bank, N.A. (JPMC) as the purchaser of assets out of the receivership, have entered into a global settlement allocating the tax refunds and other assets amongst the debtors, JPMC and other creditors. The debtors’ proposed Modified Sixth Amended Joint Plan, which incorporates the proposed global settlement and provides that many creditors will be paid in full with postpetition interest, currently is scheduled for a contested confirmation hearing on June 29.
http://www.blankrome.com/index.cfm?contentID=37&itemID=2470