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If the shares keep falling, I am going to grab more at $2 and under. I did this once before(many moons ago) and kicked myself for selling for a measly 400%. It won't happen again. Good luck to all longs, pops is still invested in SUF and not going anywhere. I truly believe this will be a great interim technology to upgrade the increasing amounts of heavy and sour crudes. If their numbers are even close, well, you saw Trosh's numbers and they really will be fantastic. I think this is a 3-5 year hold to get maximum profits, as short termers may make some money but the real money will be made by those with money in at these low levels. Good investing to all and good to see the board active again!
Popsmenke
My Schwab listing of SUF says there is a report that SUF may be getting a contract soon. Only a general notice, no specifics. Anyone else have any more news?
Good investing
Pops
Futrcash, I show an increase to 11.9 million shares short. I too hope the shorts are sweating and getting ready to pull the trigger. If they do, the stock price will be very reactive toward the high $ end. I am looking forward to the first income statements, hopefully by the end of the year. That'll nail the short coffin shut and then let the good action begin for all the patient sufferers of this stock. Right moves are being made, pray that they continue!
Good investing!
I think it does address it: here is more;
Press Release Source: Electro Energy Inc.
Electro Energy Receives Notice From NASDAQ Related to Certain Marketplace Rules and Interpretive Material
Thursday January 10, 4:30 pm ET
DANBURY, CT--(MARKET WIRE)--Jan 10, 2008 -- Electro Energy Inc. (NasdaqCM:EEEI - News), a leading provider of advanced battery technologies and associated systems (the "Company"), announced today that it received a letter from The NASDAQ Stock Market stating that it has regained compliance with the nominating committee and shareholder approval requirements contained in Sections 4350 of the Marketplace Rules and Interpretive Material 4350-2 (the "Letter"), and that both matters have been closed.
ADVERTISEMENT
The Letter stated that the Company regained compliance with Marketplace Rule 4350(c)(4), which requires Director nominees to be selected, or recommended for the Board's selection, by a nominations committee that is comprised solely of independent directors, upon the December 10, 2007 resignation of Martin Klein from the Company's nominating committee.
The Letter also stated that the Company regained compliance with Marketplace Rule 4350(i)(1)(D) and Interpretive Material 4350-2, in connection with its recent issuance of $18 Million 10% Convertible Debenture and Warrants (the "Transaction"). The Company regained compliance by amending the Transaction documents on December 14, 2007 whereby the Company would not issue any shares of common stock until the Company obtained shareholder approval of the total potential issuance of common stock in the Transaction. Previously, the Transaction documents had provided for a prohibition of issuances of common stock exceeding 19.8% of the Company's total outstanding number of shares until shareholder approval was obtained
It looks like it took $18 Million to buy themselves out of trouble but they appear to be okay now. I might have too simple of read on it though. What do you think?
Good investing!
Downriver, the matter has been taken care of:
Form 8-K for ELECTRO ENERGY INC
--------------------------------------------------------------------------------
10-Jan-2008
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard
Item 3.02. Notice of Failure to Satisfy a Continued Listing Rule or Standard
On January 4, 2008, Electro Energy, Inc. (the "Company") received a notice from the NASDAQ Stock Market (the "Letter") stating that the Company has regained compliance, following noncompliance, with the nominating committee and shareholder approval requirements contained in Sections 4350 of the Marketplace Rules and Interpretive Material 4350-2. The Letter stated that both matters have been closed.
The Letter stated that the Company regained compliance with Marketplace Rule 4350(c)(4), which requires Director nominees to be selected, or recommended for the Board's selection, by a nominations committee that is comprised solely of independent directors, on December 10, 2007, when Martin Klein resigned from the nominating committee.
The Letter also stated that the Company regained compliance with Marketplace Rule 4350(i)(1)(D) and Interpretive Material 4350-2, in connection with its recent issuance of $18 Million 10% Convertible Debenture and Warrants (the "Transaction"). The Company regained compliance by amending the Transaction documents on December 14, 2007 whereby the Company would not issue any shares of common stock until the Company obtained shareholder approval of the total potential issuance of common stock in the Transaction. Previously, the Transaction documents had provided for a prohibition of issuances of common stock exceeding 19.8% of the Company's total outstanding number of shares until shareholder approval was obtained.
The Letter is furnished as Exhibit 99.1 to this Form 8-K.
Item 7.01. Regulation FD Disclosure
On January 4, 2008, the Company received a notice from the NASDAQ Stock Market that is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
On January 10, 2008, the Company issued the press release that is furnished as Exhibit 99.2 to this Current Report on Form 8-K.
Item 9.01 Financial Statements and Exhibits
(c) Exhibits.
Exhibit
Number Description
99.1 Notification Issued by the NASDQ Stock Market on January 4, 2008.
99.2 Press Release dated January 10, 2008.
No problemo now.
Good investing!
I'm not Coin but from what I read that you posted, the final part of the letter says it all. It looks like they will be around for awhile in my opinion. You should probably read the whole letter before posting the link, it kind of makes you look like a crumbling cracker. I think the company has some good forward investing opportunities for those who are patient. If you are wanting a quick buck, you should probably go elsewhere.
Good investing!
As we carry forward in 2008, there are three central elements to our strategy by which we should be judged:
Leveraging what we and Bechtel have learned at Fort Union to move forward on full-scale K-Fuel® refineries, both domestically and internationally;
Working aggressively to build our project pipeline by demonstrating and marketing effectively the clear environmental and energy benefits of our K-Fuel® product; and,
Driving continued operating and capital efficiencies to support the company’s long-term growth objectives.
Thank you for your interest in and support of Evergreen, and I look forward to keeping all of you updated on our progress throughout 2008 and the following years.
Sincerely,
Kevin R. Collins - President and CEO
Excellent summary to forward Terry, which is what I have been saying about the company for a long time. There are those who are trying to manipulate the share price, but in time, a real product with real value will ultimately lift this share price and reward those of us who have held on thru the turbulence. I look forward to the days and weeks to come to see how the new management will approach the inevitable "bad news bears" info that will be passed along by Barron's or some other source. The mgmt. team now at Sulphco I think will be up to the job.
Good investing!
Stockman, in answer to your insider question, a few months back, Rudy Gunnerman (RG). was given the OK to sell up to 2 million of his shares in SUF over I believe the next year. He has been slowly selling of since then, but understand, he still owns 27 million shares and is most likely just getting some "spare change." He is still the largest stockholder and I believe his kids/spouse etc. will inherit what's left if he dies. The agreement was made so that too many SUF shares being sold would not hit the market at one time. I myself think it was a good deal for the company and protects them from any price run down. I also believe RG knows he is still sitting on a gold mine and if the shares did top $40 per, he would with present shares owned be a billionaire. I think both he and his son are in it for the long run and as far as I can see, there is not much other insider selling going on.
Good investing and go SUF!
BTW, SulphCo. has updated their Fujairah site information. Too bad the pictures are gone. I had one question about this latest deal with the Indonesian conglomerate. The info. says the Sonocracker is being shipped from the Fujairah site. Does this mean they are dismantling part of the original 180,000 bpd Fujairah unit to send? Hopefully someone might have a little more info. I am long and strong and hope to pick up some more shares on any notable drop. Sending one of the units does however, make sense from a shipping standpoint as they are already assembled and ready to go. Any other clues?
Good investing!
Let the orders begin! Finally, the company gets on with some real business. I hope those who had lost faith come back or it will be too expensive to purchase soon. Love the movement on this beast.. what a ride.
Good investing to all!
Terry and all,
I have been saying for awhile that they should be updating their website so we can see some of the progress. I would really like to see the Fujairah project and what it looks like now. All in all, I think people are also responding to their COO choice also. Again, it seems that the right person is being put into position, to hopefully further the company's overall "oil" knowledge on several levels. I am waiting and hoping for some results to come out and with any positive vibe to them, we will be in for a good run. Thanks to all for hanging in with this company thru the trials and travails. Hopefully, there is a pot of gold at the end of the rainbow.
Good investing!
Recession or not, if SUF has the goods, this will be a stock to own during the recession, if it happens. We all need a few recession proof/resistant stocks to help our accounts in these downturns. Let us hope SUF is one of the "good" stocks to own.
Good investing!
Terry, I wish they would update their website with some of the latest photos from the Fujairah site. When Gunnerman was there, they at least kept up the web site better. I know a lot if it was "hype" but I would like to see what is going on in a visual way. I still think the Fujairah site is ideally located for a process such as SUF's. Lets hope the higher sulfur oil processing results are good so the stock can really start to go up as it should. I know we the faithful are hoping for this. I am sure Rudy is also hoping as he has a scosh over 27 million shares still!
Good investing to all!
The real money is in high sulfur crude. If SUF's process can show positively that is can significantly reduce sulfur along with upgrading the "heavy" crude status to a lighter grade than watch out. I hope we see those next test results within 2 months or the stock price may plummet farther. Still hangin in there.
Good investing!
Terry, the share price has really dogged but it could be an ideal time to buy. The price was down earlier last year also, so things do go up and down. Does the process work? I would say definitely yes or they wouldn't have decided to have an outside vendor make the probes. I think like you said the info seems to be lacking in substance or has bad timing thus setting up a stockholder's bad dream sequence. Let's hope the boat gets uprighted and the news gets flowing. I have a lot invested here and may even invest more as disgruntled shareholders get rid of their share. I have seen it more than once, so who knows. Let's hope the management gets onboard with the stockholders and gets the comapany and results going in a positive direction.
Good investing to all!
Terry, I have to agree with you. I also am tired of the poor communication this company seems to have. I am hanging in, but my doubt is growing. It would be nice to see the website updated to current activities, etc. Time will tell, and I still am a believer in the process, we just need more competent management.
Good investing!
Terry, some folks go to the casino to gamble, some go to the stock market. There is always a "percentage shot" at making it big at either place and to some extent, the gamble we make is that a company will either fall or go up. I like to think of my long term money in stock as investing, with the reality that there really is a gamble with a lot of these companies. My hope is to have a couple of winners and they will cover the losers.
Good day and good investing!
Well Terry, ya gotta do what you gotta do! I added some more on yesterdays drop. I will probably buy more if it drops down into the three's, but my gut feeling is that it won't stay there too long, but it is all a guessing game. You never know with SUF. Keeps it exciting, whether I want it or not! Today I am up overall compared to the market so I will press on without complaint. Can't retire for a few more years anyways, so any and all big breaks will be welcome.
Good investing!
SUF isn't your normal stock from what I have experience over the last 2+ years. Charts will not necessarily predict how this stock will go (up or down). I say the best plan is to try and buy at the lowest price you can or think it will go (careful!) and then hold on(hope) for the good news to follow in the months to come. If the management can keep the company on the right track, I still think we have a winner. Maybe by the end of this year, we will even see income. Don't try and outguess SUF or you may get burnt. I am in for the long haul and awaiting their next big project plans.
Good investing!
Terry, I will join you on the I-express. I think that RG will need some cash for an upcoming court case that I saw posted somewhere. Either way, he still owns a huge portion of the shares and has until now been unwilling to sell any. This sale in my eyes, should not hurt the long term price of the stock, and may in some opinions, strengthen the management as some of the previous management shares are being "released." This is only my idiot opinion, but the company remains a strong long term candidate.
Good investing!
Anybody happy about the recent price rise? I hope we continue going up until the bigger guys take notice and give rise to even higher prices??.. I am glad I picked this up so cheap back in the .20's to .40's. A few more contracts and this company will be going strong.
Good investing to all!
I know the meeting was not great from a speaker view. In fact, I think the one guy, Brian?, was more like Robbie the Robot with his delivery. Stiff or wooden would be understating it. But the reality is, these guys are lot better than who use to run the announcements. In the old days, we would have heard something about being cash positive in 90-120 days with many deals on board to keep up the hype. Yes, their delivery and overall meeting wasn't great, but they didn't hype anything either. I'll take reality with a dash of boredom to straight out fiction. Let's all hope it climbs in the long run. I have a lot more shares now riding on that. I think this is more of a viable product now than ever.
Good investing to all!
The only thing I can say is no one would "rush out" to proclaim bad news. I am thinking this is the shorts worse nightmare come true. I think I may invest some more and see what happens. Could this finally be the straw that broke the unbelieving camel's back?
Let's hope so and looking forward to a price launch.
Good investing to all the patient ones!
I wished I would have waited just a little while longer before I sold half my shares. Oh well, live and learn. EEEI seems destined to go up and I still have enough shares to be happy. Hope all are encouraged.
Good investing!
Conserv, this probe move seems to have come out of nowhere, as far as I know. I thought that SUF had a "patented" probe and was using that design when they then contracted the German company (NTG? - have to check) to make the probe and make it more reliable. That seemed to have happened and I thought it was a great first move by the new execs at SUF. Now we have this patented "Russian" probe and will owe money(royalty) for it's use. I really am in a quandry on this one. As far as SUF's process, I think RG locked away the design/process with several patents so no one else will be able to use is unless SUF allows someone to make the systems and gets their own "royalty" for making/using the system. I think this concretes the ultrasonics process as truly viable and I hope the management will make sound decisions concerning the process and have the shareholder's in mind. Time will tell, but I am still a true believer in this company's potential. Let's hope they don't throw out the baby with the bathwater, so to speak. If anyone hears anything, please let our board know.
Good investing!
I hope the new probes perform considering what they cost. You have probably seen the agreement but this section stood out:
On November 15, 2007, SulphCo, Inc. (the "Company") issued a press release announcing that it had entered into a license agreement (the "License Agreement"), effective as of November 9, 2007, with Industrial Sonomechanics, LLC ("ISM"). Prior to the execution of the License Agreement, there were no material relationships between the Company and ISM. Pursuant to the terms of the License Agreement, ISM granted the Company a world-wide, exclusive license to utilize certain ISM technology. The initial term of the License Agreement will be for a period of one year and the Company may, in its sole discretion, at any time during the initial term elect to extend the initial term for a period equal to the remaining patent life of the related ISM technology. In return, the Company agreed to make royalty payments to ISM ranging from $500 to $2,500 for each ultrasonic horn and each ultrasound system produced, respectively. The Company further agreed that the royalty paid to ISM shall not be less than a minimum of $12,500 per calendar quarter. In addition to the royalty, the Company agreed to grant ISM warrants granting ISM the right to purchase up to 50,000 shares of the Company's common stock at an exercise price of $6.025 per warrant. In the event that the Company, in its sole discretion, elects to extend the initial term of the License Agreement, it has agreed to issue ISM 50,000 restricted shares of the Company's common stock. In connection with the shares of the Company's common stock issuable pursuant to the License Agreement, the Company granted ISM piggyback registration rights.
This is the first I have seen about these probes and this company. Seems like the royalty payments are somewhat stiff, so will they enable the price received per barrel grow also? How do the economics work here? Enquiring minds want to know!
Good investing!
Terry, I think the board had chosen to drop the old ultrasonic head (SUF) because it didn't work well or long enough. The newer heads were manufactured by the German company and were much better. Apparently, the latest ultrasonic heads are by this new company, but still fabricated by the German company. SUF's process still remains the same but is using much better ultrasonic heads with a Russian design and German manufacturing. Good diversity, eh? But some of the details are a little confusing, but overall I hope this enhances the SUF ultrasonic process and makes it more bulletproof in the long run. Let me know if you hear any differently.
Good investing!
LA, looks like my 'Yotes' on your picture. Not sure if their season is going to be too good since they can't seem to win at home. How about the Kings? I think for some stupid reason, I am going to hang on to TKO a little while longer. I got some back when it dropped in below $1.50, but I agree with Walrus, that RP is going to have to go. The "betrayal" is sized according to the amount a shareholder owns. Those with a sizable amount have not been stabbed with a knife but rather run through with a 3 foot sword. The hurt is palpable and only some serious management moves will contain the bleeding of this company and possibly show that they are considering the shareholders feelings as being important to them. I will ride a little while longer and see if a good "share price wave" comes that I can surf on.
Good investing!
Dilution is the solution? I just got in this announcement for the upcoming EEEI Annual meeting. One thing noted is an increase of authorized shares from 50 million to 250 million! I don't think this is in the best interest how about the board?
Below is the wording I got.
Good investing!
30 Shelter Rock Road
Danbury, Connecticut 06810
NOTICE OF ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON DECEMBER 14, 2007
Dear Shareholder:
NOTICE IS HEREBY GIVEN that the Annual Meeting of Shareholders of Electro Energy Inc. (the “Company”) will be held at The Marriott Courtyard, 3 Eagle Road, Danbury, Connecticut 06810, on December 14, 2007, at 10:00 a.m., local time. The accompanying Information Statement is being delivered in connection with:
1. The election of the named nominees to our Board of Directors for the terms indicated;
2. The approval of a proposed amendment to the Company’s 2005 Stock Option and Incentive Plan. to allow for the granting of restricted stock to key employees and certain other changes;
3. The approval of an amendment to our Articles of Incorporation to increase our authorized shares of Common Stock from 50,000,000 to 250,000,000 shares;
4. The approval of an amendment to the Company’s By-Laws to (i) permit the Board of Directors to schedule the date of its meetings and the Company’s Annual Meetings at its discretion, (ii) increase the number of days from which the Company can select a record date in order to be consistent with the existing terms of the By-Laws, (iii) allow for the use of paperless stock certificates in accordance with the new guidelines of the Securities and Exchange Commission and (iv) change the name appearing in the By-Laws from the Company’s predecessor, “MCG Diversified Inc.”, to “Electro Energy, Inc.”
5. The ratification of the appointment of Marcum & Kliegman, LLP as our independent registered public auditors for the fiscal year ending December 31, 2007, and
6. The transaction of such other business as may properly come before the meeting.
Included with this mailing is the Company’s Annual Report on Form 10-KSB for fiscal year ended December 31, 2006, which includes Financial Statements and the Management’s Discussion and Analysis of Financial Conditions and Results of Operations for fiscal year ended December 31, 2006. For a copies of the Company’s updated financial statements on Form 10-QSB, please visit our website at www.electroenergyinc.com, or the Securities and Exchange website at www.sec.gov. The Board of Directors has fixed the close of business on November 7, 2007, as the record date (the “Record Date”) for the meeting, and only holders of the Company’s Common Stock of record at such time will be entitled to vote at the meeting or any adjournment thereof.
By Order of the Board of Directors,
/s/ Michael E. Reed
--------------------------------------------------------------------------------
November 8, 2007 Michael E. Reed
President and Chief Executive Officer
IT IS IMPORTANT THAT YOUR SHARES BE REPRESENTED AT THE MEETING. WHETHER OR NOT YOU PLAN TO ATTEND THE MEETING, PLEASE MARK, SIGN, DATE, AND RETURN THE ACCOMPANYING PROXY IN THE ENCLOSED ENVELOPE. IF YOU DO ATTEND THE MEETING, YOU MAY WITHDRAW YOUR PROXY AND VOTE IN PERSON.
The truth is that most oil companies have "heavy or sour crude" at some level. The Middle East is getting more heavy oil percentage wise each passing year. Venezuela is almost all considered heavy crude. Truthfully, the days of abundant extracted light crude are nearing an end. There is still a lot of oil to be processed, but here is where SUF will make the difference. That is why I am long term too, and $6 floor is better than the previous $3's. I am trying to buy some more at $6 even, but I don't know if I'll make it. Sure looking forward to those large scale results. If anywhere near as positive as I think they will be, there are no shorts that will keep the price down.
Good investing!
Krup, don't want to seem too anxious. I hope we go up around 5 cents a day for a month. Now that will be exciting, yet not too noticeable, so the quicksellers can destroy the profit. We all hope for an upward pace during November.
Good investing!
Terry, it is good to dream. Whether $200 a share or split 4 times, the net worth will be the same. I am getting more excited as time goes on. I am sure there are a few shorts that want to go long pretty soon. Go SUF go!
Good investing to all, especially in SUF!
My bad on the action, it is in Europe not Korea apparently. Looks like the testing will be at a full 15,000 bpd on a heavy crude for the test run and results should be obtained in less than two weeks. When they report results is up for guessing, but if positive, they will be out quick I am sure.
Good investing!
Lab, I don't know what cheap means in your book, but if SUF ever goes well under $6 again, I am going to buy some, otherwise I will hold on for some good pr watch my increases. BTW, I heard they turned on the "machine" in Korea, I believe. I am not sure how verifiable the info. is, but if true, more results will be generated over the next few months.
Good investing!
Thanks Philly, I was going to post the link but you have done the work. Again, this is real world type of reporting with no pie in the sky promises, just a want and need to dig in and really see where the process is at in regard to sulfur reduction. Let's hope the next "few months" prove fruitful.
Good investing!
Yes, I am feeling fine, in fact, I just was able to look online and have posted a buy for $.29 per share. Don't know if I will get it, but I will attempt to buy more shares if they go under $.30. Call me crazy, but I have not seen any news that would substantiate a drop like this, so I leave it to nervous "investors." The company is still the same as yesterday so why not buy on someone else's anxiety selling.
Good investing Krup! Maybe next week will start the turnaround, who knows?
Krup, I agree with your statement, but I have seen huge turnarounds happen in no time at all. I don't want to have to depend on that miracle big turnaround, I am merely saying that the price rise to get to $1 is not really that far off. With the market so fickle right now, everyone is looking for that "undiscovered" treasure that they can invest in. With some good news from EEEI mgmt. at the right time, EEEI could go way up. Hard part is waiting, so in the meantime, I will try and be of some encouragement to those of us at this board who truly believe that this is a great stock. I do know that if it does go down again to below $0.30, I will stock up some more.
Good investing and to a great Friday coming up!
Good news would be great, but I can't see pr for pr's sake. If it isn't substantial, it shouldn't be announced. I don't like "fluff" announcements, as I am sure you guys don't also. It seems like an existing collaboration that comes up with some great results or a new work started with a large well known company would be the kind of news to take this stock on a ride upwards. Hopefully, we'll hear something soon, but as it was pointed out, we still have until March 2008, so I won't be too bothered until the beginning of 2008. If nothing is happening by then, we may have some problems. Love the discussions and info. and do belief this is a real sleeper of a stock.
Hmm.. what if Toyota started using EEEI batteries for a performance type hybrid? That would be cool! EEEI needs some open thinking.
Good investing!
Apparently, many like the news that just came out. I like the price increase and was able to pick some up yesterday in the mid $6's, ya I missed the high $5's but still made money in one day. Good ol SUF, you just never know, it is a ride you have to take to believe. I hope no one out in SUF land gave up their shares yesterday, better yet, I hope you got some more.
Good investing!
I think ouch is an appropriate statement. I think I said if it goes below $6 I would be buying more. Looks like I may have to scratch around and get some more. Hopefully, the price will go back up, but as Trosh said, corrections happen. I think that if the price goes much lower, those who have been waiting for this kind of drop will buy in. Time will tell and I still believe the product/process sells itself, especially in light of crude prices now. I for one will remain patiently optimistic.
Good investing to all!