Whatever the company is trying to do to get the price higher for listing will not work until they get the oil flowing at 1,000 bpd and show the money is flowing into the company. Whatever information they keep putting out is BS.
Alternative Energy Development Incentive. Tax incentive 1,000bpd. When will that happen???
The 11 arms would like to see the price over $1.00 after the 4 month holding period so they can sell, make their money and start over again growing another arm.
Maybe if the stock price drifts lower we could buy at the same prices or lower than the arms and sell before the arms matures reaches into our pockets and takes our profits.
Big mistake saying the company has APPLIED for Alternative Energy Development Incentive should have said they have received an approval from the AEDI. Need to have the plant producing 1.000 bpd
Information about AEDI from Utah government website.
Alternative Energy Development Incentive
Incentive Overview
A fixed post-performance tax credit for 75% of new state tax revenue (in- cludes state corporate, sales, and withholding taxes) for 20 years or the life of the project, whichever is less. The incentive is available to companies developing alternative energy resources in the state of Utah.
Qualifying Resources
• Solar
• Wind
• Geothermal • Biomass
Requirements
• Hydroelectric • Oil Sands
• Oil Shale
• Nuclear
• Petroleum Coke
• Waste Heat
(from industrial facilities or power stations utilizing steam turbines)
Available to new or expanding facilities that do one of the following:
• Generate at least 2MW of electricity
• Extract at least 1,000 barrels per day (bpd) of crude oil alternative fuels • Produce at least 250 bpd of biomass oil derived equivalents
Projects shall generate:
• New state revenue
• New incremental jobs
Entities shall:
• Show significant capital investment or the creation of high paying jobs • Provide a Certificate of Good Standing
• Implement site control
• Possess one of the following:
– One or more permits
– Financing sufficient to initiate development activities – An advanced position in the interconnection queue
Application
energy.utah.gov/tax-incentives
