(http://www.apachecorp.com/pumper.gif)__(http://members.lycos.co.uk/getc/getcrichlogo.jpg)
Geotec Thermal Generators, Inc
http://www.geo-tec.net/
Richcorp Inc.
"We are pleased to announce that we are now a division of Geotec, Inc. (a public company). We are pursuing the gasification of the asphaltite and the other business interests that we have developed in Argentina."
http://www.richcorp.net/
http://www.rich-labs.com/
(http://bigcharts.marketwatch.com/charts/big.chart?symb=getc&compidx=aaaaa%3A0&ma=0&maval=9&uf=8&lf=268435456&lf2=32&lf3=4&type=4&size=1&state=11&sid=160381&style=370&time=6&freq=1&comp=NO%5FSYMBOL%5FCHOSEN&nosettings=1&rand=7682&mocktick=1)(http://bigcharts.marketwatch.com/charts/big.chart?symb=getc&compidx=aaaaa%3A0&ma=0&maval=9&uf=32&lf=1024&lf2=256&lf3=131072&type=4&size=1&state=11&sid=160381&style=370&time=6&freq=1&comp=NO%5FSYMBOL%5FCHOSEN&nosettings=1&rand=8311&mocktick=1)
========== Share Structure == Updated on 03/24/05 ================================================
1. Authorized Common shares: 250 Million
2. Authorized Preferred Shares: 10 Million
3. Outstanding shares: November 19, 2004 = 37,456,723
4. Addition shares issued with 8K filed on 02/28/05:
a. 82 Million common shares
b. 900,000 Preferred converting into 90 Million Common
5. Additional shares issued with 8K filed on 03/18/05
a. 21 Million Restricted shares for 3 Million tons of coal
6. 240 Million outstanding: 37,456,723 plus 82 Million plus 90 Million plus 21 Million plus 8 Million
7. Tradable float: 27,106,697 -- outstanding as of 11/19/04 were 37,456,723 shares less Rick's previous shares of 10,349,992 which are in lock up for five years.
8. Five year lock up and restricted shares: 82 Million plus 90 Million plus Rick's (CEO) previous shares of 10,349,992, equals 182,349,992 shares.
9. 10,000 Preferred issued with 8K of 03/23/05 (Convert into 1 Million common)
** Keep in mind that all but about 27 Million shares are either under a 5 year lock up or restricted.
===============================================================================
State the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date:
210,956,723 shares of common stock are issued and outstanding as of Marc 31, 2005
210,956,723 shares of Common Stock as of August 15, 2005.
===============================================================================
After the Telco Acquisiton was canceled, in August 2004, Geotec management has been moving the company in a new direction.
Some key points:
1. Expanding the management team, bringing in the expertise and talents needed for this new direction.
2. Acquired Kodiak Production, Inc.
3. Acquired assets in the form of millions of tons of coal.
4. Acquired Richcorp, Inc.
5. Shares issued for these acquisitions are in a five year lock up.
6. TecEnergy, Geotec's associated company.
7. Board of Directors approved share buybacks, (a) up to 10 million shares to fund ESOP program; (b)up to 10 million to repurchase and retire.
These seven points might yield a couple themes:
a. Acquire assets to produce income.
b. Limit the number of shares that can be traded.
8K dated July 26, 2005
"As the result of the execution of the Agreement by the parties, Geotec obtains 100% voting control over RICH and its ownership rights to reserves of coking coal in Argentina exceeding 200,000,000 tons, as represented by RICH. Accordingly, the effect of the Agreement is to provide Geotec with the ability to control of over 200,000,000 tons of coke quality coal (asphaltite) and generate revenue to RICH/Geotec from the commercial exploitation of such commodity. The quality of the mined material is represented to be approximate 21-22,000 BTU per ton of asphaltite."
Several pictures of the asphaltite in the area:
Double Veins: These veins of asphaltite are around 29 meters wide and 50 meters in depth.
(http://www.rich-labs.com/ChosMalal/DSC01149.JPG)
Impressive amount of asphaltite.
(http://www.rich-labs.com/ChosMalal/DSC01157.JPG)
A Vein of Asphaltite exposed by exploratory mining.
(http://www.richcorp.net/images/Vein.jpg)
For 2005 GETC has been locked between a trading range of Support area at .12-.13 and Resistance area at .18-.20 with most days of small volume, a few zero volume, and some days of nice volume.
Thursday, Aug 29 had volume of 105,600 shares. The MMs took the Bid down to .12 before the market opened and Ask to .15. Trading was on the Bid all day. The Ask was at .15 and then late in the day the Ask moved to .13 and a little while later two trades on the Ask for 6,000 shares. About 95,000 shares traded between 2:51pm - 2:54pm on the Bid. Did the MMs know there was a big seller so they took the quote down?
Closed the day quoted at .13 x .16.
Rec. Time Action Price Volume
3:51:08 PM Ask 0.16 5000
3:50:42 PM Ask 0.17 5000
3:50:38 PM Bid 0.13 5000
3:50:38 PM Ask 0.18 5000
3:50:38 PM Trade 0.13 5000
3:50:20 PM Bid 0.12 5000
3:46:16 PM Trade 0.13 1000
3:38:18 PM Bid 0.125 5000
3:09:02 PM Bid 0.12 5000
2:54:40 PM Trade 0.12 40000
2:54:18 PM Bid 0.11 5000
2:54:18 PM Trade 0.12 10000
2:53:14 PM Trade 0.125 10000
2:53:10 PM Trade 0.12 10000
2:52:38 PM Trade 0.12 5000
2:51:50 PM Trade 0.12 3300
2:51:50 PM Trade 0.12 13000
2:51:50 PM Trade 0.12 4800
2:51:44 PM Ask 0.13 5000
1:26:44 PM Trade 0.12 1000
12:12:38 PM Bid 0.12 10000
12:09:24 PM Trade 0.12 500
11:19:48 AM Trade 0.12 1000
9:13:36 AM Bid 0.12 5000
9:13:34 AM Ask 0.15 5000
9:13:28 AM Ask 0.18 5000
Great info posts. ;D Have you traded the range at all...is it easy to get in and out w/low volume? Coal is currently yet another good energy play...I'll check this one out. ;D
Quote from: runforthedoor on September 30, 2005, 09:00:49 AM
Great info posts. ;D Have you traded the range at all...is it easy to get in and out w/low volume? Coal is currently yet another good energy play...I'll check this one out. ;D
I have not traded GETC. The MMs normally keep a wide spread. During 2005 there were a couple times when the Bid briefly moved to the .16-.175 area.
I have been accumulating shares and recently bought more at .15.
Geotec has always had big plans or expectations but they have faced many challenges and were not able to deliver. I will list some of the major ones:
1. In 2000 announced an equity funding which was canceled a couple months later without taking any funds or issuing shares. Geotec learned their stock was being naked shorted. The shares issued with this equity funding could have been used to cover at a much lower price.
2. Geotec issued a couple PRs related to the naked short in their stock.
3. Lawsuit by UltraDiamond. Claimed they had a right to Geotec's technology but the courts ruled completely in Dan Pepe's favor, president of Geotec. Geotec was on hold during this lawsuit since it is difficult to get customers when you may not have rights to the technology.
4. Geotec with no funding, depressed share price tries to form joint ventures with small or start up companies and they would be funding Geotec. None of the joint ventures got their needed funding and none moved forwards with their plans.
5. Geotec went with a plan to acquire TelcoEnergy and Telco needed to get funding to complete the acquisition. Telco did not get their funding as required and the acquisition was terminated.
Geotec is now on the plan I mentioned above in my post of what I consider to be key points.
GETC shareholder gets answers to questions about coal.
You may have read on several boards posts by "Landlord", also goes by "Special-K100" on RB, and his charges concerning Geotec and their Illinois coal. Roatan2 did a wonderful job in getting information and answers.
Read: 1. Letter from Geotec
2. Attachment 1: Bergmann Letter
3. Attachment 2: State of Illinois Tax returns (You will need to follow the link.)
roatan2
Veteran Member
*****
Posts: 7166
Re: GETC-
I had communication with Geotec management to follow up on some false and misleading statements that have been posted on other Internet message boards about the company and its current deals. Below is the response I received to my query from Geotec along with the two related attachments:
=======
Dear xxxxx,
Thank you for your comments and for bringing to our attention the issues of ownership as stated on the Internet.
First, the attached letter from Mr. Joe Bergmann, dated May 9, 2005, clearly states the ownership in the name of Lancaster International. The process is also clearly stated in Mr. Bergmann's letter.
Second, the ownership is certainly confirmed by the attached tax returns for the State of Illinois.
We see no irregularity. We believe this communication verifies the information in our filings with the SEC and any press releases that Geotec has made.
Sincerely yours,
Geotec Thermal Generators, Inc.
======
Attachment 1: Bergmann Letter
Consolidated Resources Group, Inc.
_____________________________________________________________________
5858 W. Atlantic Avenue / Delray Beach, Fl 33484 / 561-265-2382 / Fax: 561-265-1880
May 9, 2005
Mr. W. Richard Lueck, CEO
GeoTec, Inc.
110 E. Atlantic Avenue, Suite 2000
Delray Beach, Fl 33444
Dear Rick:
This letter is in response to our recent telephone conversation as to the ownership of the Fiatt Illinois coal site.
1.) On November 12, 2003. Lancaster International Corporation acquired the Fiatt coal site (approximately 500 acres) in Fulton, Illinois via Quit Claim Deed #34845. On March 19, 2004, a corrected Quit Claim Deed #37808 was recorded with the County. The Quit Claim Deeds give Lancaster International ownership of the property, and all mineral rights and assets thereon. As further proof of ownership of the property, attached are the real estate tax bills issued by Fulton County, State of Illinois to Lancaster International for all eleven parcels into which the site is divided.
2.) The property is currently in receivership by the State of Illinois , which it has been for some time. This gives the State control over what happens on the property, not ownership of the property. Once the permit application is filed and the Reclamation Bond is posted, the State releases control of what is done on the property, because it will have approved the permit application.
3.) The process that is going to be used by the corporation processing the coal will be detailed in the application for the permit and, as previously noted, we are very confident that this process, which requires no water, will be approved by the State and County. The original estimation on the Reclamation Bond was between $12-$15 million dollars. Therefore, the $4 million bond that was communicated by Al Claybourne, is well within the estimate.
It appears that the confusion is between ownership and receivership, and until permit application is filed, with the bond posted, the State of Illinois would technically be in receivership of the property. Hopefully, this clears up any confusion that came about in conversation with Al Claybourne.
Sincerely,
Joseph R. Bergmann
President & CEO
Enc. (Real Estate Tax Bills)
CC: Raymond Lancaster, Lancaster International Corporation
=======================
Attachment 2: State of Illinois Tax returns
http://www.hotstockmarket.com/board/cgi-bin/yabb/YaBB.pl?board=Stockstips;action=display;num=1098497986;start=255
(scroll near the bottom of page 18 to read "Attachment 2"!)
My next post will be highlights from the Moss and Johnson report titled "Appraisal" filed as a Document/exhibit with the 8K filed on 02/28/05.
Take special note that the price of the coal, in the report is $20 per ton. This was the spot price of this coal, at the time of the report. Spot price has recently varied between $35 and $39 per ton. Geotec's order for this coal is at $36 spot price. Check the filings, saying it can cost about half that to move the coal.
The government says that it will take $millions to move and reclaim the site in which the coal sits. Geotec will have costs and what might be the net coal prices, as it has to be washed and cleaned before delivery.
The report says that things have to be done to the property...No surprise.
The analysis and engineering work has been done. The value is stated and speaks for itself. The issues are also addressed.
The Illinois government wants the coal moved and the site cleaned. What do you think 18-20 million tons of coal is worth, at $30+ per ton? Is this enough to pay for the cost?
Waste coal, laid up, not worth much?
Is that what it says in the Moss and Johnson report?
EX-99 "Appraisal" of Form 8-K as of 02/28/05 filed 01/03/05
http://www.secinfo.com/d13eFe.z5c.8.htm
Coal Property Appraisal for
Lancaster International Corporation
of properties located in
Fulton County, Illinois, USA
December 15, 2003
Prepared By:
MOSS, JOHNSON & ASSOCIATED, LTD
Consulting Engineers
P.O. Box 3296
Springfield, Illinois 32708-3296
(217) 529-5534
(****** some highlights of the coal value from the Moss, Johnson report *****)
The four Tracks noted earlier in this report and shown in Figure 3 are listed below to identify the volumes of reserves available:
Valuation: Total Tonnage (80%) Recoverable) @$20.00/ton
Track 1:
127 acres, more of less, of surface area
Thickness – 45 feet average
Using 2000#/sht tn
************ Total tonnage - 6,224,635 tons -------------------- $99,594,160
Track 2:
70 acres, more or less, of surface area
Thickness – 70 feet average
Using 2000#/sht tn
************ Total tonnage - 5,336,100 tons--------------------- $85,377,600
Track 3:
130 acres, more or less, of surface area
Thickness – 50 feet average
Using 2000#/sht tn
************ Total tonnage – 7,078,500 tons ------------------- $113,256,000
Track 4:
100 acres, more or less, of surface area
Thickness – 50 feet average
Using 2000#/sht tn
************ Total tonnage – 4,356,000 ------------------------ $69,696,000
*********** TOTAL OF FOUR TRACKS -------------------- 22,995,235 tons
*********** @80% recoverability ------------------------------ 18,396,188 tons
****** Total Dollar Value of Recoverable Reserves ----------- $367,923,760
The ability of the recoverable fines to be used as an acceptable high quality fuel is substantiated by the results of the physical testing conducted on the coal. As received, conditions of the tested coal revealed an ash content of 9 percent to 24 percent. Sulfur ranged from 1.5 percent to 2.97 percent. BTU value range ranged 7910 to 10500. Samples also were tested for volatiles and carbon content. The test showed that this material was capable of producing 33 percent to 38 percent volatiles and 37 percent to 43 percent carbon. Average fusion temperature was 2270 degrees F.
Studies conducted of the processed material prior to burning by the City of Springfield revealed even higher quality results due to the reduction of ash content prior to burning. Therefore, in order to utilize the resources located on the Lancaster International Corporation properties to their highest potential, portable washers, dryers, and/or palletizing equipment are to be used, improving the marketability of the product.
MARKETING:
In reviewing the reports conducted by other firms and the data collected during our investigation, we find that the coal reserves located on the Lancaster International Corporation properties have two principal advantages:
A. All of the properties lay in the heart of the Western Illinois coal fields where medium quality, average sulfur coal is predominant.
B. Extensive road networks and river systems provide competitive sophisticated, and dependable modes of transportation to market areas.
APPRAISED VALUE:
The appraised value of the properties owned by Lancaster International Corporation of Maitland, Florida is based on all of the considered factors pertaining to this evaluation.
1, Current value of Land and Improvements:
500 acres of land, more of less
One two-story dwelling & one mobile home
Four large metal buildings
1. 1. 100 ft x 200 ft
2. 2. 40 ft x 80 ft
3. 3. 100 ft x 300 ft
4. 4. 80 ft x 80 ft
Present Market Value ------------------- $500.000.00
2. Surface Reserves Valuation:
Using the present market value of $20.00 per ton times the estimated recoverable tonnage of eighteen million three hundred and sixty-nine thousand one hundred and eighty-eight tons (18,369,188 ) as defined herein, the present market value is determined to be:
Present Market Value ------------------ $367,995,760.00
This appraisal, placing the greatest amount of validity on the Surface Reserves Valuation shown above, determines the market value of the mineral assets, the land and the improvements of Lancaster International Corporation of Maitland, Florida to be Three Hundred and Sixty-eight Million, Four Hundred and Ninety-five Thousand Seven Hundred and Sixty and 00/100 Dollars ($368,495,760.00).
US Govt Sponsored Peak Oil Report Draws Disturbing Conclusions
By Michael J. DesLauriers
29 Jul 2005 at 10:46 PM EDT
TORONTO (ResourceInvestor.com) -- A 67-page report released earlier this year on the subject of Peak Oil and sponsored by the U.S. Department of Energy drew several conclusions:
1. World Oil Peaking is Going to Happen
2. Oil Peaking Could Cost the U.S. Economy Dearly
3. Oil Peaking Presents a Unique Challenge ("it will be abrupt and revolutionary")
4. The Problem is Liquid Fuels (growth in demand mainly from transportation sector)
5. Mitigation Efforts Will Require Substantial Time
6. Both Supply and Demand Will Require Attention
7. It Is a Matter of Risk Management (mitigating action must come before the peak)
8. Government Intervention Will be Required
9. Economic Upheaval is Not Inevitable ("given enough lead-time, the problems are soluble with existing technologies.")
10. More Information is Needed
Based on the report (Peaking of World Oil Production: Impacts, Mitigation, & Risk Management) we are probably in quite a bit of trouble if, as some analysts suggest, peak oil is already upon us. The study was led by Dr. Robert Hirsch who is a Senior Energy Program Advisor at SAIC (Science Applications International Corporation), and who has had a long career in Energy milieu in a variety of important positions.
3 Scenarios
The study envisions three scenarios for dealing with a peak oil reality: scenario one involves action not taken until peaking occurs, and scenarios two and three deal with action taken ten and twenty years prior thereto. The conclusions follow:
Waiting until world oil production peaks before taking crash program action leaves the world with a significant liquid fuel deficit for more than two decades.
Initiating a mitigation crash program 10 years before world oil peaking helps considerably but still leaves a liquid fuels shortfall roughly a decade after the time that oil would have peaked.
Initiating a mitigation crash program 20 years before peaking appears to offer the possibility of avoiding a world liquid fuels shortfall for the forecast period.
"The obvious conclusion from this analysis is that with adequate, timely mitigation, the costs of peaking can be minimized. If mitigation were to be too little, too late, world supply/demand balance will be achieved through massive demand destruction (shortages), which would translate to significant economic hardship, as discussed earlier."
Based on these conclusions, the global economy could stand to suffer incalculable consequences if peak oil is already upon us. Apparently, the world seems to need at least twenty years notice and a serious coordinated effort in order to truly avoid sever economic pain.
According to Hirsch, "The world has never confronted a problem like this, and the failure to act on a timely basis could have debilitating impacts on the world economy. Risk minimization requires the implementation of mitigation measures well prior to peaking. Since it is uncertain when peaking will occur, the challenge is indeed significant."
Oil Sands
Like many of the other experts whose opinions have been aired through Resource Investor, Hirsch would appear to find the much-vaunted Canadian oil sands inadequate, though admittedly they have the potential make a positive dent in the problem.
The report states, "In addition to needing a substitute for natural gas for processing oil sands, there are a number of other major challenges facing the expansion of Canadian oil sands production, including water81 and diluent availability, financial capital, and environmental issues, such as SOX and NOX emissions, waste water cleanup, and brine, coke, and sulfur disposition. In addition, because Canada is a signatory to the Kyoto Protocol and because oil sands production results in significant CO2 emissions per barrel, there may be related constraints yet to be fully evaluated."
"The current Canadian vision is to produce a total of about 5 MM bpd of products from oil sands by 2030. This is to include about 3 MM bpd of synthetic crude oil from which refined fuels can be produced, with the remainder being poorer quality bitumen that could be used for energy, power, and/or hydrogen and petrochemicals production. 5 MM bpd would represent a five-fold increase from current levels of production. Another estimate of future production states that if all proposed oil sands projects proceed on schedule, industry could produce 3.5 MM bpd by 2017, representing 2 MM bpd of synthetic crude and 1.5 MM bpd of unprocessed lower-grade bitumen."
"It is also worth noting that the bitumen yield from oil sands surface mining operations is about 0.6 barrels per ton of mined material, excluding overburden removal. This is similar to the yield from a good quality oil shale, but is less than Fisher-Tropsch liquid yields from coal, which is about 2.6 barrels per ton of coal."
Conclusion
Readers of Resource Investor are far more aware of the energy related challenges ahead than the average man in the street who believes that high oil and gas prices are the result of Iraq, OPEC, and some underhanded, self-serving conspiracy involving Bush, Cheney and Halliburton. Unfortunately, a sound knowledge and understanding of the situation makes us no less vulnerable.
While the specific implications of peak oil remain unclear, there can be no mistaking that any period between involving a lapse in adequate energy supply will be met with economic hardship for the global economy. If peak oil is not upon us already, the chances of minimizing future damage are fair and it is certainly encouraging to know that government authorities are taking the threat seriously. Any way you slice it however, the economy and the consumer are unlikely to escape unscathed through the transition period into other energy sources as the world comes to grips with a new evolving paradigm in satisfying its needs for energy consumption.
http://www.resourceinvestor.com/pebble.asp?relid=11748
The New York Times today reports that Bush officials, supposedly "furious over Saudi Arabia's handling of the investigations after 9/11," nonetheless continue to say that "the alternatives to Saudi Arabian [oil] are fewer today than seemed to be the case just three years ago." But if you look at how the Bush administration is ignoring major domestic oil potential at home, it seems more like the White House is trying to justify its all-too-close relationship with the Saudis.
As the Billings Gazette reported last week, there is a huge potential to turn Montana's massive parcel of coal into oil, using decades old coal gasification technology proven to work. Right now, "Montana has 120 billion tons of state and federal coal reserves under its surface" and "115 billion tons of that coal is recoverable." Using the technology, "one ton of coal would produce 1.5 barrels of diesel fuel." In other words, that is one helluva lot of fuel.
Before you start raising environmental concerns, consider this: the fuels created from gasification "are also clean - no sulfur, mercury or arsenic." Sure, it isn't perfect, but to get us off foreign oil we can't afford to only be pie-in-the-sky - and this is pretty good. Because while coal gasification still produces a gas-based fuel, it is far cleaner than any fuel used today, and the gasification process itself does not create emissions either.
Up until now, America hasn't explored using coal gasification because it is not profitable unless oil is above $35 a barrel. But now oil is at around $60 a barrel, and at that level to stay. Combining coal gasification, with solar, wind, ethanol energy and hybrid technology really means we can get our country off foreign oil. But it is up to our leaders to take the initiative to make it happen.
Saturday, August 06, 2005
On Tuesday, July 26, 2005, the Company executed a Share Exchange Agreement with
Richcorp, Inc., a Florida corporation, and Mr. William Richardson, President of
Richcorp. Pursuant to the Agreement, Mr. Richardson agreed, as owner and/or
proxy holder for other Richcorp shareholders, to convey and transfer to Geotec,
those shares of Richcorp common stock (referred to as the "Purchased Shares")
representing the majority voting and all of the equity interest in Richcorp.
Accordingly, Geotec is acquiring the equity ownership of Richcorp. The Agreement
contains further provisions for the acquisition of all issued and outstanding
equity interests of Richcorp from remaining Richcorp shareholders. The Agreement
has an effective date of August 1, 2005 and provides that the Purchased Shares
shall be delivered to Geotec on August 1, 2005.
As consideration for the Purchased Shares, Geotec is tendering ten thousand
(10,000) shares of its preferred stock (the "Geotec Preferred Stock") to
Richcorp shareholders. The Geotec Preferred Stock will be distributed on a pro
rata basis to Mr. Richardson, those shareholders for which Mr. Richardson serves
as a proxy, and all other shareholders of Richcorp that elect to exchange their
equity interest in Richcorp for Geotec Preferred Stock. The Geotec Preferred
Stock will be issued and held in escrow pending the share exchange scheduled for
August 1, 2006, August 1, 2007 and August 1, 2008.
The Geotec Preferred Stock will contain preferences that entitle the holders of
the Geotec Preferred Stock to a pro rata interest in a minimum of 2,100,000
shares of Geotec common stock, at a minimum, and up to 10,500,000 shares of
Geotec common stock, based upon a formula for sales and resulting profits of the
Richcorp Division of Geotec. This formula is scaled from $20,000,000 to
$80,000,000 in annual profits for the maximum shares to be earned.
The Agreement provides that Richardson and Richcorp shall indemnify and hold
harmless Geotec for various matters that may arise after execution of the
Agreement and which relate to conduct occurring prior to execution of the
Agreement.
As the result of the execution of the Agreement by the parties, Geotec obtains
100% voting control over Richcorp and its ownership rights to reserves of coking
coal in Argentina exceeding 200,000,000 tons, as represented by Richcorp.
Accordingly, the effect of the Agreement is to provide Geotec with the ability
to control of over 200,000,000 tons of coke quality coal (asphaltite) and
generate revenue to Richcorp/Geotec from the commercial exploitation of such
commodity. The quality of the mined material is represented to be approximate
21-22,000 BTU per ton of asphaltite, with some deposits exceeding 31,000 BTU per
ton.
In addition, Richcorp, Inc. has been pilot the capabilities of Dr. Richardson's
other enzyme based processes for the washing and high grading of Asphaltite The
material is a very rich source of hydrocarbons and has provided excellent
results in the laboratory with regard to the types of hydrocarbons and the range
of products that can be derived from these hydrocarbons. Testing using formula
RLP-22, an enzyme formulation has proven that the hydrocarbons can not only be
extracted, but the resulting products can be virtually metal free, due to
RLP-22's ability to extract the metals and minerals from the diesel fuel
produced and the fixed carbons that result from the process.
Richcorp, Inc. holds the rights to the enzyme formulations. These formulations
are produced from industrial fermentations specifically designed to induce or
inhibit the release of specific types of enzymes into an aqueous solution. These
processes are an Intellectual Property and are protected as a Trade Secret. The
enzyme processes and the supporting mechanical designs work in tandem to produce
a desired result. The desired result may be the accelerated germination and
growth of plants, the degradation of clays to alter soil structure for a
properly developed root mass by the subject vegetation, the removal of
hydrocarbons from soil or the removal of organo-metallic compounds in a fuel
targeted for the consumer market. Richcorp will provide its technology to the
commercial market through licensing of the technology for a particular purpose
and the development of processes for the treatment, remediation or other
applications that these formulations can be used to correct or change for a
particular purpose.
These enzyme formulations are designed to produce enzymes that specifically
attack the desired molecular bonds to detach the target contaminate. This
process is realized by the interaction of several enzyme groups known as
decombinanase, transferase and recombinase.
Further, the Company has studied the gasification capability of the Asphaltite
and has determined that up to 7.5 Barrels of Oil Equivalent, in gas, may be able
to be produced per ton of Asphaltite. The Company believes that TecEnergy's
gasification equipment and processes can process about 10 tons per hour of
Asphaltite, with a 20 hour a day operation. Richcorp's web site is
www.richcorp.net.
Very nice 8K!
Effective date is August 1, 2005
1. Richcorp, Inc. becomes a wholly owned subsidiary of Geotec. Check out the potential Richcorp brings to Geotec.
http://www.richcorp.net/
2. 200 Million tons of coal.....this coal needs to be mined.
"As the result of the execution of the Agreement by the parties, Geotec obtains 100% voting control over RICH and its ownership rights to reserves of coking coal in Argentina exceeding 200,000,000 tons, as represented by RICH. Accordingly, the effect of the Agreement is to provide Geotec with the ability to control of over 200,000,000 tons of coke quality coal (asphaltite) and generate revenue to RICH/Geotec from the commercial exploitation of such commodity. The quality of the mined material is represented to be approximate 21-22,000 BTU per ton of asphaltite."
3. Richcorp shareholders willing to lock up their GETC shares. Confidence in the performance by Richcorp and Geotec over the next five years.
"Notwithstanding the above, all of the shares earned shall be subject to the same terms and conditions of the Buyer's share lock up agreement, which extends for 5 years, until February, 2010, which has been filed with the EDGAR service, for the Securities and Exchange Commission."
4. The amount of shares isssued to richcorp depends on the profit scale from $20 million to $80 million per year. Richcorp must believe they can reach the high end of the profit targets, thus earning near the max shares possible. Sure gives them an incentive.
"The Geotec Preferred Stock will contain preferences that entitle the holders of the Geotec Preferred Stock to a pro rata interest in a minimum of 2,100,000 shares of Geotec common stock, at a minimum, and up to 10,500,000 shares of Geotec common stock, based upon a formula for sales and resulting profits of RICH. (Scaled from $20,000,000 to $80,000,000 in annual profits for the maximum shares to be earned.)"
Lets look at the coal in Argentina, the high quality, then look at China, the coking coal in Australia, and Montana coal.
Geotec/Richcorp's asphaltite in Argentina is of higher quality...less sulfur, less ash and higher percent burnable, big difference.
(The following comparison of equivalent barrels output are taken from information in my previous posts)
What are the possible oil equivalents?
1. Canadian Oil Sands and Shale yields = about .6 barrel of oil per ton[/u].
2. Coal = will yield about 2.6 barrels of oil per ton[/u].
3. Asphaltite = the Company has studied the gasification capability of the Asphaltite and has determined that up to 7.5 Barrels of Oil Equivalent, in gas, may be able to be produced per ton of Asphaltite.
4. Montana coal = one ton of coal would produce 1.5 barrels of diesel fuel[/u].
"the effect of the Agreement is to provide Geotec with the ability
to control of over 200,000,000 tons of coke quality coal (asphaltite) and
generate revenue to Richcorp/Geotec from the commercial exploitation of such
commodity. The quality of the mined material is represented to be approximate
21-22,000 BTU per ton of asphaltite, with some deposits exceeding 31,000 BTU per
ton."
"Further, the Company has studied the gasification capability of the Asphaltite
and has determined that up to 7.5 Barrels of Oil Equivalent, in gas, may be able
to be produced per ton of Asphaltite. The Company believes that TecEnergy's
gasification equipment and processes can process about 10 tons per hour of
Asphaltite, with a 20 hour a day operation. Richcorp's web site is
www.richcorp.net."
"Richcorp must compete with a limited number of asphaltite mines in Argentina and
with coking coal from Brazil, China and other locations worldwide. The key and
leading factor of the Richcorp material is the 97% carboneous concentration, and
zero ash concentration, which is unique, worldwide."
Look at the assays and geologist's report - Asphaltite Laboratory Analysis:
http://www.secinfo.com/d13eFe.zxz.d.htm
You have to look at the amount of bitumin in the material:
"The material is a solid bituminous hydrocarbon with high caloric content (8700 Cal) with a fusion point of 175° C, an ignition point of 340 ° and an initial boiling point of 350 ° to 360 °. 0.28 percent ash 38 percent fixed carbon and 61.5 percent volatiles. 99% soluble in Carbon Disulfide. 98% soluble in Toluene."
"As the Billings Gazette reported last week, there is a huge potential to turn Montana's massive parcel of coal into oil, using decades old coal gasification technology proven to work. Right now, "Montana has 120 billion tons of state and federal coal reserves under its surface" and "115 billion tons of that coal is recoverable." Using the technology, "one ton of coal would produce 1.5 barrels of diesel fuel." In other words, that is one helluva lot of fuel."
China does import coking coal, but mostly from Australia which has a high ash content. Most coking coal is of poor quality, and 13 percent ash as with the Chinese material is the better quality. Australia is higher, and not with as much Btu content.
Look at the ash content of Geotec/Richcorp's asphaltite...whoops, there isn't any!.
"Richcorp must compete with a limited number of asphaltite mines in Argentina and
with coking coal from Brazil, China and other locations worldwide. The key and
leading factor of the Richcorp material is the 97% carboneous concentration, and
zero ash concentration, which is unique, worldwide."
Nice work on this greatday, but I sure would like to see someone else weigh in on this too.
This is a surprise and great news...terminate an acquisition if it cannot perform as required in the acquisition agreement. TelcoEnergy acquisition was terminated because they did not perform as required.
That is history and now to watch for what is working, making progress. Dump the weak links and keep focused on the strong links.
=============================================
Geotec Thermal Generators Inc · 8-K · For 10/3/5
Filed On 10/4/5 2:49pm ET · SEC File 0-26315 · Accession Number 1161697-5-1078
ITEM 1.02
TERMINATION OF A MATERIAL DEFINITIVE AGREEMENT
On October 3, 2005, Geotec Thermal Generators, Inc. ("Geotec" or the "Company") terminated its agreement to acquire Kodiak Productions, Inc. ("Kodiak"), a Wyoming corporation, based upon Kodiak's failure to deliver agreed upon consideration for the transaction. The Company's board of directors has authorized the Company to commence litigation to recover $4,206,000.00 in damages that it has sustained from the transaction and to pursue other remedies.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
GEOTEC THERMAL GENERATORS, INC.
By: /s/ Bradley T. Ray
Bradley T. Ray
Chairman of the Board of Directors
Date of Report: September 30, 2005
URBAN TELEVISION NETWORK CORPORATION
--------------------------------------------------------------------------------
(Exact Name of registrant as specified in its Charter)
Nevada 33-58972 22-2800078
--------------------------------------------------------------------------------
(State of Incorporation) Commission File No. IRS Employer Identification No.)
2707 South Cooper St. Suite 119 Arlington, TX 76015
--------------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, ( 817 ) 303 - 7449
----------- ------------- ---------------
--------------------------------------------------------------------------------
(Registrant's former name and address)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Item 1.01 Entry into a Material Definitive Agreement.
On September 30, 2005, we entered into a Stock/Commodity Exchange Agreement with Geotec Thermal Generators, Inc., a Florida corporation that maintains its principal place of business at 110 East Atlantic Avenue, Suite 200, Delray Beach, FL 33444.
The Company acquired two hundred thousand tons of mined coal with a minimum appraisal of $4.6 million in exchange for one hundred thousand preferred shares of URBT (the "Preferred Shares" or "Securities") with a stated value, and convertible to $4.6 million worth of common stock of the Company (the "Common Shares").
URBT principal and CEO and Miles Investment Group, LLC, President and General Manager, Jacob R. Miles, III, has advised the Parties that Miles Investment Group, LLC will be providing URBT with a sufficient number of Common Shares to facilitate fulfillment of the conversion obligation of URBT set forth herein.
The proposed use of proceeds raised from the Company's exchange of the Shares for the coal is for the Company to build URBT's working capital and asset value.
Item 9.01 Financial Statements and Exhibits
(c) Exhibits
Exhibit No. Description
--------------------------------------------------------------------------------
http://yahoo.brand.edgar-online.com/doctrans/finSys_main.asp?formfilename=0001010549-05-000695&nad=
Geotec \ Richcorp new web site!
Welcome to Geotec\Richcorp
Geotec and Richcorp have re-organized and are focusing their efforts as a team to effect a synergistic redirection of the two companies.
Both companies became heavily involved in the research and acquisition of alternative fuel sources that relate specifically to heavy hydrocarbons and their conversion to lighter more useable forms. This synergy and symbiotic sense of purpose has resulted in both companies reconsidering their short term objectives. The long term objectives remain the same for both entities;
Geotec and Richcorp has become synonymous with the true definition of "GREEN ENERGY", as this is exactly what we want to do as suppliers of alternative energy sources, renewable energy sources and technologies and a provider of services to remediate the remnants of their short-sighted operations.
Our methods and ideologies have evolved by careful study of what the well known energy and mining companies do to extract resources, how they handle them and what they have left behind for someone else to deal with. We have also examined their lack of responsible action with the residues and waste products that are both left behind and created through the inefficient use of a precious commodities.
We will also augment conventional energy in a way that provides a positive impact to the conventional extraction of natural resources, the processing of conventional fossil fuels of all types and the conventional methods of producing electricity.
We have established synergistic strategic alliances with well documented and thoroughly researched technology providers and are establishing relationships with other companies with similar or symbiotic objectives.
Please peruse our website and become informed as to what is going on with energy and mining to comment and give us ideas that we can use to reform old methods and avail new methodologies to a commodity necessary to our everyday life and the lives of those to come.
http://www.richcorp.net/
(http://members.lycos.co.uk/getc/getcrichlogo.jpg)
GETC has been moving down on light selling and an absense of buying. A few days have seen all or most of the volume on the Bid, and the price moved down. Shareholders might be impatient waiting for the next news from Geotec, seeing the price move down, joining the selling before the price goes lower.
Investors may also be waiting, not buying, for solid information that things are moving in a forward direction. But I bought once last week and once this week. I believe things are in progress but no to the point of releasing information.
The closing quote for Tuesday, 11/01/05 is .08 x .09
greatday8
Geotec filed an 8K on November 09,2005
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On Friday, November 4, 2005, Geotec Thermal Generators, Inc. ("Geotec" or the "Company") executed a Technology Purchase (the "Agreement") with Richcorp, Inc. ("Richcorp"), a Florida corporation, wholly owned by Geotec. The prior acquisition of Richcorp included all Richcorp operations, however the recombinant engineered enzyme/protein technology to modify or remove many different types of hydrocarbons was specifically excluded to be the subject of this Agreement.
Richcorp's technology comprises the high volume, recombinant engineered manufacturing of numerous proteins/enzymes that can selectively react with specific hydrocarbons to decrease ash (overburden including clays, dolomites, etc.) sulfur or metal concentrations and thereby improving the coal quality and market value. This market value increase directly relates to the BTU or thermal value increase in the coal resulting from the protein/enzyme treatment. There are literally hundreds of millions of tons of coal that have been mined and deposited on open lands that do not meet the specifications of the electric power (Coal is utilized in producing about 55% of the electric power produced in the United States) generation companies. The Company has identified a significant portion of this coal in the Appalachian Basins where the Richcorp technology could increase the quality and market value of the laid up coal, meeting the electric power plant requirements. The Richcorp technology has been utilized and approved by the EPA, (Environmental Protection Agency) whereby the remaining protein effluent can be returned into the environment without risk to plants, animals or ground water. Other washing methods have included chemicals and detergents at a high cost and environmental risk.
Richcorp also has prior experience with at least one major oil company and the demonstration of this technology in oil applications. Heavy crude oil has been improved to yield "lighter" oils ("API shifting") with reduced sulfur and metals in upstream and downstream oil processing.
The technology is also described on www.richcorp.net and www.rich-labs.com
A copy of the Agreement is attached as an exhibit hereto.
As consideration for the Purchased Shares, Geotec is tendering ten thousand (10,000) shares of its preferred stock (the "Geotec Preferred Stock") to Richcorp shareholders. The Geotec Preferred Stock will be distributed on a pro rata basis to Mr. Richardson, those shareholders for which Mr. Bergman serves as a proxy, and all other shareholders of Richcorp. The Geotec Preferred Stock will be issued and held in escrow pending the share delivery scheduled for November 1, 2006, 2007 and 2008. The Geotec stock may be converted, based upon profit contribution for up to 21,000,000 common shares, over the multi-year delivery time frames.
ITEM 3.02 UNREGISTERED SALES OF EQUITY SECURITIES
As previously described, Geotec is issuing ten thousand (10,000) shares of its restricted Preferred Stock in exchange for the purchased technology. Mr. Richardson, and those individuals and entities for which he is acting as a proxy, as well as other shareholders of Richcorp, are sophisticated investors who have access to financial and related information of Geotec and agreed to acquire the Geotec Preferred Stock for investment purposes. Accordingly, the offer and sale of the Shares have occurred and will occur in transactions exempt from registration under Section 4(2) of the Securities Act of 1933 and Section 517.061(9) of the Florida Statutes.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(c)
Exhibits
99.7
Technology Purchase Agreement.
http://freerealtime.brand.edgar-online.com/EFX_dll/EDGARpro.dll?FetchFilingHTML1?SessionID=z1JbIgomAhDkDWh&ID=4003336#EX_99-7_HTM_EX_99-7
Possible oil equivalents comparison:
Update - Lets look at the coal in Argentina, the high quality, then look at China, the coking coal in Australia, and Montana coal.
Geotec/Richcorp's asphaltite in Argentina is of higher quality...less sulfur, less ash and higher percent burnable, big difference.
What are the possible oil equivalents?
1. Canadian Oil Sands and Shale yields = about .6 barrel of oil per ton[/u].
2. Coal = will yield about 2.6 barrels of oil per ton[/u].
"It is also worth noting that the bitumen yield from oil sands surface mining operations is about 0.6 barrels per ton of mined material, excluding overburden removal. This is similar to the yield from a good quality oil shale, but is less than Fisher-Tropsch liquid yields from coal, which is about 2.6 barrels per ton of coal."
3. Montana coal = one ton of coal would produce 1.5 barrels of diesel fuel[/u].
"As the Billings Gazette reported, "there is a huge potential to turn Montana's massive parcel of coal into oil[/u], using decades old" coal gasification technology proven to work[/u]. Right now, "Montana has 120 billion tons of state and federal coal reserves under its surface" and "115 billion tons of that coal is recoverable." Using the technology," one ton of coal would produce 1.5 barrels of diesel fuel." In other words, that is one helluva lot of fuel."
4. Asphaltite = the Company has studied the gasification capability of the Asphaltite and has determined that up to 7.5 Barrels of Oil Equivalent, in gas, may be able to be produced per ton of Asphaltite.
"the effect of the Agreement is to provide Geotec with the ability to control of over 200,000,000 tons of coke quality coal (asphaltite) and generate revenue to Richcorp/Geotec from the commercial exploitation of such commodity. The quality of the mined material is represented to be approximate 21-22,000 BTU per ton of asphaltite, with some deposits exceeding 31,000 BTU per ton."
"Further, the Company has studied the gasification capability of the Asphaltite and has determined that up to 7.5 Barrels of Oil Equivalent, in gas, may be able to be produced per ton of Asphaltite. The Company believes that TecEnergy's gasification equipment and processes can process about 10 tons per hour of Asphaltite, with a 20 hour a day operation. Richcorp's web site is www.richcorp.net." (http://www.richcorp.net.")
"Richcorp must compete with a limited number of asphaltite mines in Argentina and with coking coal from Brazil, China and other locations worldwide. The key and leading factor of the Richcorp material is the 97% carboneous concentration, and zero ash concentration, which is unique, worldwide."
Look at the assays and geologist's report - Asphaltite Laboratory Analysis:
http://www.secinfo.com/d13eFe.zxz.d.htm
You have to look at the amount of bitumin in the material:
"The material is a solid bituminous hydrocarbon with high caloric content (8700 Cal) with a fusion point of 175° C, an ignition point of 340 ° and an initial boiling point of 350 ° to 360 °. 0.28 percent ash 38 percent fixed carbon and 61.5 percent volatiles. 99% soluble in Carbon Disulfide. 98% soluble in Toluene."
Lets do a review of some events during 2005. I did a copy/paste of information from the filings in support of the topics.
======================================================
Web sites:
http://www.geo-tec.net/
http://www.richcorp.net/
http://www.rich-labs.com/
1. Outstanding shares: November 19, 2004 = 37,456,723 ------
212,840,058 shares of Common Stock as of November 15, 2005
2. Shares issued to bring assets into the company and grow the company are in a five year lock up till April 2010. The shares Rick Lueck owned prior to 2005 were also put into the five year lock up, about 10 million shares.
"Messrs. Lueck, Herman, Ray and Norris have entered into a Custodial and Shareholder's Agreement and have agreed to a lock up of their shares for a period of five years. Mr. Lueck has also agreed to lock up all of the shares he has previously owned, which is approximately 10 million shares of common stock."
3. The tradable float is about 27 million, since the shares issued during 2005 and Rick's 10 Million are in a 5 year lock up.
4. Owns and/or have options on Million of tons of laid up coal.
"Geotec acquired 3,000,000 tons of laid up coal from Consolidated in exchange for 21,000,000 shares of the company's common stock."
"The Company also has approximately 5 million tons of coal that is laid up, and an option through CRB to an additional 16 million tons"
"In February 2005, the company announced that it had entered into a series of agreements, commitments and understandings pursuant to which we have acquired 700,000 tons of coal located on certain land described as 14221 East Arrow Road, Cuba, Illinois"
5. Commodity Exchange Agreement with F T Leasing:
On June 10, 2005, Geotec Thermal Generators, Inc. ("Geotec" or the "Company") entered into a Commodity Purchase Agreement (the "Agreement") with F T Leasing & Financial, Inc. ("F T Leasing"), a Colorado corporation that maintains its principal office at 1216 Columbia Drive, Longmont, Colorado 80503. Pursuant to the Agreement, Geotec has agreed to sell F T Leasing up to six million (6,000,000) tons of mined coal (the "Coal") over the next three years.
6. Issued a PR in support of new Illinois law in support of coal gasification.
"DELRAY BEACH, Fla., Jun 24, 2005 (BUSINESS WIRE) -- Geotec Thermal Generators, Inc. (OTCBB:GETC) welcomed its sought after support for the new Illinois State Law which opens up as many as 48 coal mines, with high sulfur content, to be gasified with technology developed by Geotec's associated company, TecEnergy. http://www.tecenergylimited.com/index1.htmlTecEnergy'sgasification units process up to 11 tons of coal per hour, are portable, and cost less than $5 million for a complete operation. In addition, the BTU output of the gas is also significantly increased. This technology also eliminates sulfur from being released into the atmosphere, which permits the company to receive carbon credits for the environmentally friendly disposal of coal. Carbon credits have increased, in past months, to over $35 per ton of coal that is gasified."
7. Acquisition of Richcorp.
"On Tuesday, July 26, 2005, the Company executed a Share Exchange Agreement with Richcorp, Inc., a Florida corporation, and Mr. William Richardson, President of Richcorp. Geotec is acquiring the equity ownership of Richcorp."
"Said distribution shall occur after the August 1, 2006, August 1, 2007, and August 1, 2008, equal to one-third of the total exchange of shares, date thereof. Notwithstanding the above, all of the shares earned shall be subject to the same terms and conditions of the Buyer's share lock up agreement, which extends for 5 years, until February, 2010, which has been filed with the EDGAR service, for the Securities and Exchange Commission."
"Richcorp also has prior experience with at least one major oil company and the demonstration of this technology in oil applications. Heavy crude oil has been improved to yield "lighter" oils ("API shifting") with reduced sulfur and metals in upstream and downstream oil processing."
8. Richcorp has over 200 million of tons of Asphaltite in Argentina.
"Accordingly, the effect of the Agreement is to provide Geotec with the ability to control of over 200,000,000 tons of coke quality coal (asphaltite) and generate revenue to Richcorp/Geotec from the commercial exploitation of such commodity. The quality of the mined material is represented to be approximate 17,000 BTU per ton of asphaltite."
"In addition, Richcorp, Inc. has the capabilities of Dr. Richardson's other enzyme based processes for the washing and high grading of Asphaltite The material is a very rich source of hydrocarbons and has provided excellent results in the laboratory with regard to the types of hydrocarbons and the range of products that can be derived from these hydrocarbons. Testing using formula RLP-22, an enzyme formulation has proven that the hydrocarbons can not only be extracted, but the resulting products can be virtually metal free, due to RLP 22's ability to extract the metals and minerals from the diesel fuel produced and the fixed carbons that result from the process."
"Further, the Company has studied the gasification capability of the Asphaltite and has determined that up to 7.5 Barrels of Oil Equivalent, in gas, may be able to be produced per ton of Asphaltite. The Company believes that TecEnergy's gasification equipment and processes can process about 10 tons per hour of Asphaltite, with a 20 hour a day operation."
"the Company intends to receive carbon credits for coal or asphaltite (in Argentina) that is produced into fertilizer. In addition, high sulfur coal that is of little value to most users may be used for this process. Carbon credits are currently priced at about $38 per ton of coal. Sulfur credits, which could apply to gasification or production of fertilizer from coal, are prices at near $900 per ton of sulfur. If a ton of coal has 5% sulfur, then one ton of coal would generate 1/20th the sulfur credit or approximately $45 per ton of coal, if gasified or produced into fertilizer."
9. Richcorp may have other metals and mineral in Argentina.
See Richcorp' s website: http://www.richcorp.net/minerals.htm
10. TecEnergy was referred to as an associate.
Read the two PRs issued by TecEnergy on November 7,2005 of plans to acquire funding. Also the PRs in Dec and Jan. Symbol is CGGE.
"DELRAY BEACH, Fla., Jun 24, 2005 (BUSINESS WIRE) -- Geotec Thermal Generators, Inc. (OTCBB:GETC) welcomed its sought after support for the new Illinois State Law which opens up as many as 48 coal mines, with high sulfur content, to be gasified with technology developed by Geotec's associated company, TecEnergy. http://www.tecenergylimited.com/index1.htmlTecEnergy'sgasification units process up to 11 tons of coal per hour, are portable, and cost less than $5 million for a complete operation. In addition, the BTU output of the gas is also significantly increased. This technology also eliminates sulfur from being released into the atmosphere, which permits the company to receive carbon credits for the environmentally friendly disposal of coal. Carbon credits have increased, in past months, to over $35 per ton of coal that is gasified."
"the Company has studied the gasification capability of the Asphaltite and has determined that up to 7.5 Barrels of Oil Equivalent, in gas, may be able to be produced per ton of Asphaltite. The Company believes that TecEnergy's gasification equipment and processes can process about 10 tons per hour of Asphaltite, with a 20 hour a day operation."
"TecEnergy, Ltd, which is a producer of gasification equipment that, as of the publication of this report, is just now producing commercial units for sale in Europe, with one unit also in the oil/gas fields of Oklahoma. It is anticipated by Management that these gasification units, which are also micro-power generators, will be able to utilize the Company's coal to produce a high output form of methane gas. This gas, when sold could produce a higher profit stream for the Company than just the sale of coal. Results from this gasification method indicate a production of hydrocarbons and power equivalent to over $80 per ton of coal."
11. Equity/coal exchange with Urban Television.
"On September 30, 2005, the Company sold 200,000 tons of coal to URBAN TELEVISION NETWORK CORPORATION located at 2707 South Cooper St. Suite 119 Arlington, TX 76015 through a Commodity Exchange Agreement, with a minimum appraisal of $4.6 million in exchange for one hundred thousand preferred shares of Urban Television with a stated value, and convertible to $4.6 million worth of common stock of the Urban Television."
12. Enzyme/protein technology.
"1.04 Pro Rata Distribution of the Preferred Shares. The Preferred Shares shall be distributed on a pro rata basis to (a) Seller; (b) those shareholders for which Seller is acting as a proxy (Note: Seller and those shareholders for which Seller is acting as a proxy shall be referred to collectively herein as (Seller(); and (c) all other shareholders of the Company that elect to exchange their common stock in the Company for preferred stock issued by Buyer. Said distribution shall occur on the anniversaries of this agreement defined as the dates of November 1, 2006, November 1, 2007, and November 1, 2008, equal to one-third of the total exchange of shares, date thereof. Notwithstanding the above, all of the shares earned shall be subject to the same terms and conditions of the Buyer's share lock up agreement, which extends for 5 years, until April, 2010, which has been filed with the EDGAR service, for the Securities and Exchange Commission."
"Richcorp's technology comprises the high volume, recombinant engineered manufacturing of numerous proteins/enzymes that can selectively react with specific hydrocarbons to decrease ash (overburden including clays, dolomites, etc.) sulfur or metal concentrations and thereby improving the coal quality and market value. This market value increase directly relates to the BTU or thermal value increase in the coal resulting from the protein/enzyme treatment. There are literally hundreds of millions of tons of coal that have been mined and deposited on open lands that do not meet the specifications of the electric power generation companies. The Company has identified a significant portion of this coal in the Appalachian Basins where the Richcorp technology could increase the quality and market value of the laid up coal, meeting the electric power plant requirements. The Richcorp technology has been utilized and approved by the EPA, (Environmental Protection Agency) whereby the remaining protein effluent can be returned into the environment without risk to plants, animals or ground water. Other washing methods have included chemicals and detergents at a high cost and environmental risk."
A lot has been accomplished during 2005. Now, what are some of the areas Geotec might explore?
1. Washing coal.
2. Selling coal.
3. Coal gasification...synfuel...fertilizer....etc...
4. Clean up contaminated sites .... Enzyme/protein technology.
5. Selling generated products....gasification....Enzyme/protein technology.
6. Be in more than the US...expanded into Argentina.
7. Selling carbon credits earned through gasification.
============================================================
Snipit from a statement from Geotec in August 2004 after they terminated the acquisition of TelcoEnergy:
"Over the last 6-7 months Geotec Management has concentrated on the business opportunities of TelcoEnergy, as directed by TelcoEnergy Management. However, over the next thirty days, and beyond we will focus on Geotec's opportunities, and we will report to our shareholders on a timely basis, regarding this new directed effort."
From the Richcorp website, "Welcome to Geotec'Richcorp" page:
"Geotec and Richcorp have re-organized and are focusing their efforts as a team to effect a synergistic redirection of the two companies. Both companies became heavily involved in the research and acquisition of alternative fuel sources that relate specifically to heavy hydrocarbons and their conversion to lighter more useable forms. This synergy and symbiotic sense of purpose has resulted in both companies reconsidering their short term objectives. The long term objectives remain the same for both entities;"
http://www.geo-tec.net/
http://www.richcorp.net/
http://www.rich-labs.com/
Watch next two weeks or so
--------------------------------------------------------------------------------
This was to me on my GETC board on Ihub. Take it for whatever its worth.
Posted by: LORTAP MACS
In reply to: greatday88 who wrote msg# 411 Date:1/14/2006 11:37:02 PM
Post #of 413
I think I can confirm that they are working on a nice deal, the next two weeks should be when you'll get all the details...
LorTap Macs called it Saturday 01/14 11:37pm -- $0.07
LorTap Macs' original call which I posted here, gave an opportunity to buy at the $0.07 area.
"I think I can confirm that they are working on a nice deal, the next two weeks should be when you'll get all the details..."
LorTap Macs made a follow-up post on Thursday 01/19 11:16 am:
"I'm thinking big run starting in the next week....
to many things been brewing at the office..."
LorTap Macs' original call was very good. Are you on board in case his second call is also pretty good?
LorTap Macs posted these on my GETC board on Ihub.
j.p.morganson called it at $0.09 on 01/19 1:42pm
Posted on another site.
" GETC ** GEOTECH THERMAL GENERATORS ** BREAKOUT ALERT
---------------------------------------------------------------- ----------------
Alerting here at .09 as this is just about to explode imo.. Still relatively undiscovered and PROFITABLE.."
Got in lightly at .155 this AM despite no support on the BID side. How that changed quickly. Fresh MM's joining in on BIDs. This bitch is HOT. No sellers just buyers. Good pick!
Out @ .36. Thanks again for the DD and pick. Will be back after profit taking is over though ;)
This is hot !!! Found a good trade after a long time. Expecting it to move further today. Maybe the forum guy post was true after all, could expect news afterhours. Hope I am not wrong on this one.
This was posted on another board....
Posted 01/19:
"there are two other companies involved with GETC, as far as I can tell it's a multi-billion dollar international deal....
however since I don't have direct access to any of the CEO's involved nor company employees....
I can only say what I think I know based on connecting the dots from doing some serious probing and DD..."
Think I will stock profits from it back in once this retraces from that run. Risk/reward is worth it.
Well..i as usual bought in a late, missed the run...and thought this would make an eod run...so i bought in at .30.
Does anyone think this stick will continue its run next week? don't want to hold this forever and hope for a comeback. Any thoughts?
Chart experts...any advice would be appreciated as well.
thanks very much,
glta
julia
Well L2 looks shifty to me. It looks well propped to tank on Monday. Although intense buying pressure will get this moving in a second. I would say you will know within the first 5-10 minutes of open whether or not to hold. I would ride the first five watching L2 and make MY decision. Support @ .20 and mild resistance @ .30. That is an ugly spread if you ask me.
I believe there is more to this then what appears on the surface. We know the news which has been released. It is the upcoming news that many think will be very big, and it may take several releases to get it all out.
I think 2006 will GETC trading above $2 and moving higher. Don't hold me to this, it is just my opinion.
THanks for your comments Wax...appreciate your thoughts and advice ;D ;D..i will definitely be watching the first few minutes of open to see what direction GETC appears to be headed.
Greatday, I will still keep my eye on GETC and perhaps rebuy on a pullback and catch the next wave up. ;D
thanks guys,
glta
julia
Looks risky for this guy.
RSI : 90.4 risky area.
Volume is HUGE! But closed far from the top!
Gotta be carefull.
missed this one, very nice run, but i also agree it's in very overbought territor - tread with extreme caution
I don't have L2 , so monday morning will be a bit of a guessing game with me...and will have to react quickly i guess if i see it plummeting. But, then i wonder...yes..there probably will be a pullback..after all it did rise over 300% in a couple of days. But, could it eventually surpass its high and continue its rise later on...should i be selling at a loss tomorrow if price falls...or hold on the stock could eventually go higher? I have done that so many times before...sold at a loss becasue a stock is pulling back then a short while later....watch it move to new highs?
Confused again?
all these stocks going up this month...and i keep buying them at the wrong time..lol...got to get it right...lol
glta
julia
"Confused again?
all these stocks going up this month...and i keep buying them at the wrong time..lol...got to get it right...lol"
True or false depends on your strategy. How many times have we bought stocks and they go up right after buying and not down? These past couple months I have been buying GETC at .115 down to .06, about 200,000 shares. I kept thinking GETC was close to news and price moving higher....WRONG....but I believed I had the story right and felt confident buying as it kept going lower. I own GETC from $4.56 to $0.06 with an average of $0.20.
I own GETC for the long term potential I believe exits for the company and me as a shareholder. I also plan to trade some of my shares, aiming for some of the price swings.
GETC has made a big move up, how much more is left before a consolidation and/or correction. Uptrends have corrections while the major move is up. Where is GETC at in this cycle?
Has a change in trend happened or happening? Will news support this change of last week, establishing a major uptrend?
I do not know but these are some thoughts going through my mind.
I could kick myself...i asked around for L2's on open for GETC...and it didn't look very good..so, as it appeared that the pps wasnt going up..i thought it was going to tumble...so just decided to sell before it went lower,that didn't happen....sold at .27 the low of the day...the next trade was buy that moved the pps up, so i took a loss instead of making a good profit today....dang.
hope everybody else did well :)
julia
glta
Had an interesting day, that's for sure. sorry to hear you couldn't get a good L2 read on it.
Congrats greatday, i know you waited many years for this
way to go ;D ;D ;D
The Geotec and Richcorp websites display the messages coming soon and under construction...must be some major events happening with both companies.
Is it possible they want to have their websites current with information soon to be released through filings and PRs?
http://www.geo-tec.net/
http://www.richcorp.net/
http://www.rich-labs.com/
GETC quote is .23 x .24
GETC and URBT have commodity/share exchange agreement. Notice the volume breakout on URBT today. GETC broke out last week and URBT today. Tells us there is something in the works. Will we get news this week or next week?
Strong connection between GETC and URBT...both stocks should do well.
==========================================
MaxStockPro.com Goes One on One With CEO, Mr. Jacob V.O. Mullins
UATV recently had a new CEO take over the company about four months ago (10/05) by the name of Jacob R. Miles III. With a few goals in mind that we believe are getting ready to start rolling out in the near term. Last week MaxStockPro.com did a feature company overview on Urban Television Network Corporation, now we have an exclusive interview with the CEO of the company. We had the chance to touch on topics that the investment community or future investors can learn about the company. With many mile stones coming this year we asked the CEO of Urban Television Network Corporation the following questions.
Overview of Company ---
Talking Points
Urban Consumer - African-Americans/English Speaking Hispanics/Other - 80 million - $1.5 Trillion
Broadcast Network -- Full Power Stations with long term goal similar to ABC, NBC, CBS, FOX
Distribution -- Growth to 60 million households
Nielsen Ratings
Content - Black College Football, Latin Eyes, Neo Soul, Sports
New Media - IP Streaming, Podcasting, Video OnDemand
Network Launch starting in mid 2006
Latest News for UATV:
Urban Television Network Corporation (OTC Bulletin Board: URBT) CEO and Chairman, Jacob Miles, will be a featured speaker at the MultiCultural Media Expo being held at the Los Angeles Convention Center from February 22-24, 2006. Expecting national attendees from all segments of the media industry, the Expo will integrate the business conference and floor expo formats into an interactive media event focusing on the multicultural markets.
During his appearance at the MultiCultural Media Expo, Jacob Miles will remark on the current tendencies of media to separate the diverse cultures of America, while also highlighting UATV's focus on bringing minorities together through their unifying interests. The current and future state of Urban America Television will also be discussed, including: its move from low to full power affiliates, expanded programming (short form and long form), interactivity and mobile media, Central and South American expansion and the impact of UATV's groundbreaking agreement with Nielsen Media Research.
Question & Answers
MaxStockPro.com Staff : What is the status on updating the filings to possible move to a bigger exchange?
Mr. Jacob R. Miles III CEO : As we increase assets and revenue, we will begin the process of moving to a larger Board.
MaxStockPro.com Staff : What can the investment community expect this year from Urban Television Network Corporation?
Mr. Jacob R. Miles III CEO : Consistency and execution of the business plan Acquisition of new assets and attention to increasing revenue
MaxStockPro.com Staff : Can investors expect any acquiring of any companies in Q1 from the company?
Mr. Jacob R. Miles III CEO : We are always looking for acquisitions that match our core strategy and that will enhance shareholder value, particularly those that add assets and revenue.
MaxStockPro.com Staff : We notice the OnDemand platform is starting to take off. Can investors see Urban Television Network Corporation deliver any of its content in this format?
Mr. Jacob R. Miles III CEO : We are working very diligently in this area to create an integrated message that enhances our broadcast platform. We see IPTV specifically, as well as other on-demand platforms, growing exponentially over the next few years, and we see the lines between traditional television and Internet becoming very blurred.
Today, technology is significantly impacting the lifestyle of the average consumer: TIVO has created a market of consumers accustomed to the convenience of time-shifting television programs, Apple is leading in the rapidly evolving consumer expectation of mobile multimedia content and it seems everyone has a cell phone. As Video OnDemand, mobile content and increased cellular bandwidth mature and blend - you can bet UATV will be right in the middle of it.
Thank you Mr. Miles III for giving MaxStockPro.com staff this interview. MaxStockPro.com will began coverage of URBT throughout the year as we stated in our "Feature Company Section" about URBT. We will keep the investment community updated and give facts about URBT.
Urban Television Network Corporation
2707 S. Cooper, Ste. 119
Arlington, Texas 76015
817-303-7449
817-459-2942 FAX
This story is courtesy of MaxStockPro.com Staff, and the CEO of Urban Television Network, Inc. Mr. Jacob R. Miles III.
search
http://www.maxstockpro.com/Interview2.html
I think this URBT is a great one to enter, looks like it could see move to .20s-.30's
after .12 break
This is from another site...
======= by DarkTranquillity ==================================
Big deal with a large oil company is supposed to be announced next week, i'm going in large.
======== by greatday8 ==================================
DTQ, I have seen comments posted about this type of announcement, but do you have any solid reasons to think it might happen, happen next week? I would love to see it.
This is from the filings:
"Richcorp also has prior experience with at least one major oil company and the demonstration of this technology in oil applications. Heavy crude oil has been improved to yield "lighter" oils ("API shifting") with reduced sulfur and metals in upstream and downstream oil processing."
Geotec has the coal and Richcorp has the technology. I am looking for an announcement along the line of the millions of tons of coal will be washed with Richcorp's enzyme/protein technology. I think this will be very big.
This also from the filings:
"Richcorp's technology comprises the high volume, recombinant engineered manufacturing of numerous proteins/enzymes that can selectively react with specific hydrocarbons to decrease ash (overburden including clays, dolomites, etc.) sulfur or metal concentrations and thereby improving the coal quality and market value. This market value increase directly relates to the BTU or thermal value increase in the coal resulting from the protein/enzyme treatment. There are literally hundreds of millions of tons of coal that have been mined and deposited on open lands that do not meet the specifications of the electric power generation companies. The Company has identified a significant portion of this coal in the Appalachian Basins where the Richcorp technology could increase the quality and market value of the laid up coal, meeting the electric power plant requirements. The Richcorp technology has been utilized and approved by the EPA, (Environmental Protection Agency) whereby the remaining protein effluent can be returned into the environment without risk to plants, animals or ground water. Other washing methods have included chemicals and detergents at a high cost and environmental risk."
======= by DarkTranquillity ==================================
All I can say right now is that the announcement will be made this week for sure in a PR and on there website.
I honestly cannont disclose any more information than that.
I do know that I will be very happy next week and I cannot wait for the news to hit the wires.
Happy Trading!
=========== by greatday8 =============================
DTQ, fair enough and thanks.
==============================================
The right source with your questions
This phone number was posted on RB (813) 244-9843.
I checked with Geotec about this number and this is the reply. Now everyone has a number if they wish to call. A number to call about information you see posted on a message board, information in the filings, in PRs, etc.... or any questions you may have.
==================================================
Dear Frank,
Dan does speak for Geotec, as you have seen.
I, on the other hand, cannot comment about anything. Those were decisions made, that I honor.
It seems that you are getting information from the right source.
I am glad you are speaking with Dan, the information officer.
Best Regards,
================================================== ====
I believe the above about GETC in talks with a large oil company is RUMOR.
Sorry for posting a rumor but a call to Dan learns this:
At present time are doing coal deals. That rumor cannot be confirmed.
8K - completed the acquisition of the mineral rights for 4 additional Asphaltite mines
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On January 31, 2006, Geotec Thermal Generators, Inc. ("Geotec" or the "Company"), through its wholly owned subsidiary, Richcorp, Inc., made the initial payments that completed the acquisition of the mineral rights for 4 additional Asphaltite mines (containing high volatile resource materials) in the Neuquen Province of Argentina. The Company obtained two Asphaltite mines from its acquisition of Richcorp, Inc., in 2005. The estimated reserves from the 2005 Richcorp acquisition were 200 Million tons. The total estimated reserves inclusive of these four additional mines bring the Company's estimated reserves to 1.5 Billion tons. Engineering for these estimates and mining was evidenced to the Company in December, 2005 comprising about 7000 acres.
Interesting... That number is Tampa based. I believe it is a cell phone block. I live in Tampa and am not famliliar at all with this company. Is that a rep for this place?
huge break out this morning,yet, and a small pullback.....
Quote from: Wax on February 01, 2006, 07:48:06 AM
Interesting... That number is Tampa based. I believe it is a cell phone block. I live in Tampa and am not famliliar at all with this company. Is that a rep for this place?
Dan is the president of AACS, check the SEC filings. Check PRs issued by AACS to see the contact is Dan and the same number as I posted above.
The talk is there are negoitations going on between GETC, AACS, URBT and CGGE, maybe others. With the president of AACS speaking for GETC, as the information officer, that would have to speak pretty highly that a deal will be forth coming.
http://www.geo-tec.net/
http://www.richcorp.net/
http://www.rich-labs.com/
Look at the Richcorp websites, lot of information on the new direction of Geotec and Richcorp. There are also links to external websites, and they are not there to take up space. IMO, those links are there to help investors with DD on the new direction, pointing us in a direction of relevant information.
DD helps to form opinions, which should help make intelligent investment decisions.
Let me jump up on my soapbox and shout some of my thoughts and opinions:
Have you taken some time to read Richcorp's web site and follow the links?
Over the years Geotec's management has worked hard to bring Geotec to a position of realizing a great potential. All along the way there have been diversions that have prevented the targeted success. The ups and downs have been stepping stones to the future and I believe that now is the time when the hard work and sacrifice made by all, including shareholders, will start to show results.
It has been posted that several companies, (GETC - AACS - URBT - CGGE) may be in negotiations. If there is a four company combo, a strategy and implementation of the business plan would require sophistication and patience. I have said I believe 2005 to be the foundation building year. I believe that 2006 will demonstrate the strength of Geotec management and the validity and viability of the business plan.
Richcorp has a staff of people in Argentina, and I also believe progress will be made in 2006 to develop the opportunites in Argentina.
Geotec owns technology for well and coal treatment, mineral assets, equity acquired in other entities, etc.... The directors and management will need to find effective ways to make these technologies and assets perform.
Lets think of Geotec as a living entity. It will change and respond to the opportunities found or made.
Good luck with your investments, whether GETC is one of them or not.
Thanks for your time and I will step down off my soapbox :)
Geotec's business direction is moving towards coal and gasification. What is happening in these areas. A lot of information available at:
http://www.gasification.org/
**********************************************
Burns I McDonnell Awarded Contract by ERORA Group for Next-Generation Coal Gasification Project.
http://www.burnsmcd.com/news/erora.html
This is an interesting paragraph from that release:
"The $1.1 billion Taylorville Energy Center recently was awarded a total of $5 million in funding support by Illinois Gov. Rod R. Blagojevich. Under the grant, $2.5 million will be awarded by the Illinois Department of Commerce and Economic Opportunity for front-end engineering and design and an additional $2.5 million will be awarded by the Illinois Clean Coal Review Board."
***** Then we have Geotec Endorsing the new law enabling the above funding
http://geo-tec.net/pr06-24-05.html ***********
Geotec Thermal Generators, Inc. Endorses New Illinois Law Funding and Guarantying Coal Gasification Purchases
June 24, 2005 02:24 PM US Eastern Timezone
DELRAY BEACH, Fla.--(BUSINESS WIRE)--June 24, 2005--Geotec Thermal Generators, Inc. (OTCBB:GETC) welcomed its sought after support for the new Illinois State Law which opens up as many as 48 coal mines, with high sulfur content, to be gasified with technology developed by Geotec's associated company, TecEnergy.
http://www.tecenergylimited.com/
TecEnergy's gasification units process up to 11 tons of coal per hour, are portable, and cost less than $5 million for a complete operation. In addition, the BTU output of the gas is also significantly increased. This technology also eliminates sulfur from being released into the atmosphere, which permits the company to receive carbon credits for the environmentally friendly disposal of coal. Carbon credits have increased, in past months, to over $35 per ton of coal that is gasified.
The following press release, issued by the Governor's office in the State of Illinois on June 21, 2005, provides a complete description of the law:
Gov. Blagojevich continues to develop new markets for clean-burning Illinois coal and the creation of new jobs across the state
MT. VERNON - In another important step towards revitalizing the Illinois coal industry and creating more jobs for Illinois families, Gov. Rod R. Blagojevich today signed legislation which will help increase the use of Illinois-mined coal by supporting the use of clean-coal technology, providing energy security and promoting economic development throughout the state.
"Legislation such as this allows us to take a national leadership role in clean-coal technology. In doing so, we're seizing a tremendous opportunity to demonstrate to the world that there are innovative and environmentally-friendly ways to use more Illinois coal, which will give this critical industry an important economic boost. By continuing to support the use of clean-burning Illinois coal, we continue to support the creation of more good jobs throughout this state," Gov. Blagojevich said.
State Senator James Clayborne (D-East St. Louis) and State Rep. Kurt Granberg (D- Centralia) sponsored Senate Bill 90.
"Gov. Blagojevich and I believe that Illinois coal can play an important role in a comprehensive, sustainable energy plan for this state. This legislation will continue to develop the market for clean coal technology, allowing us to mine more Illinois coal that not only reduces our dependence on foreign energy sources and creates good jobs, but does so in an environmentally responsible way," Sen. Clayborne said.
"The slumbering Illinois coal industry has a better chance of bursting back into business with this initiative by reopening mines and creating an estimated 1,400 new jobs," Rep. Granberg said. "This innovative legislation has the potential to relieve shortages and high pricing by creating natural synthetic gas, thereby resulting in lower, more stable prices for consumers."
SB 90 supports production of ultra-clean, high-efficiency coal gasification facilities that will produce synthesis natural gas (SNG). The legislation sets a price for SNG that is typically between 18-30 percent cheaper than that of conventional natural gas, potentially offering significant cost savings to consumers.
The legislation permits gas utilities to enter into 20-year supply contracts with any SNG producer using Illinois coal, provided that the Illinois Commerce Commission does not determine that the cost of natural gas is unreasonable or imprudent.
This guarantee is designed to permit developers of new SNG facilities to secure sales contracts to obtain project financing. This will allow developers to move forward on these kinds of environmentally-friendly projects creating new markets and jobs in the Illinois coal industry.
The legislation, along with other initiatives spearheaded by Gov. Blagojevich, puts Illinois in the lead nationally in the deployment of ultra-clean technology known as Integrated Gasification-Combined Cycle (IGCC). It is fast-emerging IGCC technology that allows Illinois coal to be used as a feedstock for important energy products such as SNG, electric power and low-sulfur diesel fuel.
Using coal in such value-added circumstances creates jobs and investment in Illinois and, at the same time, reduces U.S. reliance on imported, price-volatile products like crude oil, natural gas and nitrogen fertilizer.
SB 90 is effective immediately.
I was trying to work up some numbers of the possible shares available for trading and then compare to the volume during the run in January. This is what I came up with.
I think there were many traders trading multiple times during the January run. If so, one share might have been traded 5-10 times, if a trader made five or more round trades, which I think is possible.
1. 212,840,058 outstanding shares of Common Stock as of November 15, 2005
2. Shares issued during 2005 are in a lock up till April 2010 including Rick's original shares and Dr Art Gottmann's.
3. Outstanding shares: November 19, 2004 = 37,456,723
4. Tradable float: 27,106,697 -- outstanding shares as of 11/19/04 were 37,456,723 shares less Rick's original shares of 10,349,992 which are in a five year lock up till April 2010.
5. Dan Pepe holds 8,932,732. (Geotec's previous president)
6. Dr. Art Gottmann, who has agreed to invest $2,200,000 in exchange for 16.5 million shares of our common stock which coupled with his existing ownership of 3.3 million shares of our common stock. (These 19.8 million are in the lock up.)
7. What do we have:
a. 27,106,697 -- tradable (point-4)
b. 8,932,732 -- Dan Pepe (most likely not selling at these low prices)
c. 3,300,000 -- Dr. Art Gottmann's existing shares (In lock up)
d. 14,873,965 -- a minus b minus c = tradable float
e. 4,000,000 -- Shares held by me and others I know, all holding for higher prices
f. 10,873,964 -- d minus e = Tradable float after subtracting tightly held shares.
g. 3,000,000 -- Wild guess at an additional number held for higher prices
h. 7,873,964 -- f minus g = Tradable float after subtracting an additional unknow possibly tightly held shares.
i. _________ -- Do we add in a number for the naked short position? If there is a naked short, those shares are out there and available for trading.
The January run and topping was four days and traded = 8,014,718 shares. Look at this number, then look at F and H above. All of the shares in F and H did not trade as many traders flipped the shares several times. The volume continued heavy a few days after the high and has been declining. After the high, I think we seen a lot of people exiting to cut their loss. Large number of shares moving from OLD shareholders to NEW.
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
(a) Coal Sales Agreement. On March 3, 2006, Geotec Thermal Generators, Inc. ("Geotec" or the "Company"), executed a purchase order agreement with Island Sales Limited ("Island Sales") (a copy of which is attached hereto) whereby the Company agreed to sell 500,000 tons of Pennsylvania processed clean coal to Island Sales between April and December, 2006, at the price of $47.10 per ton, subject to processing and delivery specifications. The coal is part of the 20,000,000 tons of Pennsylvania processed clean coal sold to Geotec by Ecotec Coal, LLC, a Florida limited liability company in December, 2005.
(b) Coal Processing Test Results. On January 27, 2006 the Company received coal washing test results from SGS Commercial Testing & Engineering Co. of Denver, Colorado, which provided independent verification and validation that chemical modification of the Pennsylvania coal utilizing the Company's proprietary recombinant protein/enzyme technology increased the commercial value of such coal. The test results from the chemically processed coal demonstrate that the processed coal qualifies as "Refined Coal" as such term is defined in Section 45 of the Internal Revenue Code of 1986, as amended.
(c) Technical Testing Data. The results showed a 15.6 % increase in Btu per lb to 13,209 Btu; a decrease in Ash of 58% to 7.33% and a 20.2% decrease in lb. S02/mm Btu.
212,840,058 shares of Common Stock outstanding as of November 15, 2005
What might be the value of the Pennsylvania processed clean coal and value per outstanding share:
500,000 tons times $47.10 per ton = $23,550,000 and using 212,840,058 outstanding shares = $0.111 per share.
19,500,000 tons times $47.10 per ton = $918,450,000 and using 212,840,058 outstanding shares = $4.315 per share.
20,000,000 tons times $47.10 per ton = $942,000,000 and using 212,840,058 outstanding shares = $4.426 per share.
Coal Washing Results
The analysis of the coal tailings before being processed (the certificate dated January 27, 2006), showed that the coal not only had an inordinate amount of ash (17.6%), severely de-valuing the coal, the coal also had a low BTU, a value used to evaluate the heat produced by 1 U.S. pound of the material. The raw coal produced 11,419 BTU's per pound (in the 'as sampled', 'as received' state). A minimum of 12,000 BTU's is required for NYMEX traded coal, for example, with the maximum allowable ash value on NYMEX traded coal is (by weight) 13.5%.
The proximate analysis of the coal prior to washing
__________________As Received____Dry
% Moisture___________3.52 ________ ---
% Ash ______________17.60 _______18.24
% Volatile ___________29.48 _______30.56
% Fixed Carbon_______49.40_______ 51.20
Calorific Value (BTU's)__11,419______ 11,836
The percentage of volatiles relates directly to the BTU value. The 'after processing' certificate dated January 15, 2006 show the marked decrease in the ash content of the material (7.33), a reduction of approximately 59% enhancing the value considerably. The rise in BTU's to 13,209 not only increasing the value as a NYMEX traded coal, but establishing a higher value in that it can be mixed or blended with a cheaper coal to meet the NYMEX standards.
The proximate analysis of the coal after washing
____________________As Received____Dry
% Moisture______________ 3.10 ______ ---
% Ash__________________ 7.33 ______ 7.56
% Volatile ______________ 33.23 _____ 33.26
% Fixed Carbon__________ 57.34 _____ 59.18
Calorific Value (BTU's)_____13,209_____13,632
These results were achieved by utilizing a single stage wash system in Bartow, Florida. A complete multi-stage system similar to previous wash plants built by Richcorp, Inc. for applying their enzyme technology is being assembled for maximizing these results for the process for application on the Geotec coal washing project in Pennsylvania.
http://www.richcorp.net/coal_results.htm
I am rereading the 8K a little closer and a few things jumped out at me that I passed over before.
(a) Geotec bought 20 Million tons of "processed clean coal".
(b) Test results are from coal washed with Geotec's enzyme/protein technology validating the technology.
(c) Test results of coal wash with the enzyme/protein technology.
I read the 8K to say Geotec bought processed cleaned coal and it was washed with Geotec's technology, all 20 Million tons. Am I reading this correctly?
************************************************** ***************************************
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
(a) Coal Sales Agreement. On March 3, 2006, Geotec Thermal Generators, Inc. ("Geotec" or the "Company"), executed a purchase order agreement with Island Sales Limited ("Island Sales") (a copy of which is attached hereto) whereby the Company agreed to sell 500,000 tons of Pennsylvania processed clean coal to Island Sales between April and December, 2006, at the price of $47.10 per ton, subject to processing and delivery specifications. The coal is part of the 20,000,000 tons of Pennsylvania processed clean coal sold to Geotec by Ecotec Coal, LLC, a Florida limited liability company in December, 2005.
(b) Coal Processing Test Results. On January 27, 2006 the Company received coal washing test results from SGS Commercial Testing & Engineering Co. of Denver, Colorado, which provided independent verification and validation that chemical modification of the Pennsylvania coal utilizing the Company's proprietary recombinant protein/enzyme technology increased the commercial value of such coal. The test results from the chemically processed coal demonstrate that the processed coal qualifies as "Refined Coal" as such term is defined in Section 45 of the Internal Revenue Code of 1986, as amended.
(c) Technical Testing Data. The results showed a 15.6 % increase in Btu per lb to 13,209 Btu; a decrease in Ash of 58% to 7.33% and a 20.2% decrease in lb. S02/mm Btu.
************************************************** *************************
Spending more time reading the Richcorp website.
Lets talk Green Gold: http://www.richcorp.net/greengold.htm
The case is made that fertilizer from coal using Geotec/Richcorp technology is cheaper and much better than what is being used today.
I read it to say the preliminary planning, designing of the plant, who will do the training and who overseas the ongoing operations has been done. All that is needed is $10 million to build the plant.
Each plant will be able to produce 490,000 metric tons of fertilizer annually.
SO, how many tons of coal are needed to produce one metric ton of fertilizer?
***********************************************************************************************
"C. the Company intends to receive carbon credits for coal or asphaltite (in Argentina) that is produced into fertilizer. In addition, high sulfur coal that is of little value to most users may be used for this process. Carbon credits are currently priced at about $38 per ton of coal. Sulfur credits, which could apply to gasification or production of fertilizer from coal, are prices at near $900 per ton of sulfur. If a ton of coal has 5% sulfur, then one ton of coal would generate 1/20th the sulfur credit or approximately $45 per ton of coal, if gasified or produced into fertilizer."
Using the two statements I have in bold and lets use 20 tons of coal produced in to fertilizer to form a possible credits Geotec could sell for cash.
Carbon = 20 tons of coal times $38 per ton = $760
Sulfur = 20 tons of coal = $900
Can Geotec capture both credits for a total fo $1,660 which is $83 dollars per ton of coal?
******************************************************************
"The Company is reviewing a technology that has been favorably tested at two major United States Agricultural Universities. Fertilizer is currently being sold for $250-450 per ton."
Besides the credits Geotec will also sell the fertilizer for $250-450 per ton of fertilizer.
**********************************************************
From the President's Letter to AACS shareholders:
http://www.aacssymbol.com/presidents_letter.asp
"The testing of the technology will take place at the Bartow, Florida home of American Commerce Solutions, Inc. and IMW. Materials have been delivered to the site, the laboratories are prepared to supervise and the machinery is being prepared for delivery at this writing. The testing is projected to be concluded by the end of next week, if Hurricane Wilma does not interfere. Success of the testing is anticipated, since similar tests have been successful in the past."
From "Coal Washing Results" page:
http://www.richcorp.net/coal_results.htm
"These results were achieved by utilizing a single stage wash system in Bartow, Florida. A complete multi-stage system similar to previous wash plants built by Richcorp, Inc. for applying their enzyme technology is being assembled for maximizing these results for the process for application on the Geotec coal washing project in Pennsylvania."
If Bartow, Florida does not connect a couple dots, I don't what does.
Well, that says the first multi-stage unit is being built or assembled at this time, probably ready to go into production in April. 500,000 tons of coal to be delivered as specified over nine months, starting April 2006. I think we need more than one unit for 500,000 tons or make that 20 Million tons!
This is getting exciting.
There is a lot of interesting information on the Richcorp website.
500,000 Tons of coal to be shipped April '06 - December '06.
Geotec announced 20 Million tons.
I was searching for information to help form a visual of the magnitude of shipping 500,000 and 20 Million tons of coal.
What is ash?
Geotec tested their technology and the Ash went from 17.60% to 7.33%. This was done with a single-stage system but Geotec is assembling a multi-stage system. A multi-stage system will decrease the Ash content more? The coal trains moving across the country may have 100 or more coal cars. Ash is dirt and clay. The coal Geotec tested went from 17.60% down to 7.33 % ash. On a hundred car coal train, that is 17 or 7 cars of dirt and clay. Expensive! Moving coal, why not spend a little more to remove more of the ash and save much more on the shipping?
Using the information from the train board to make assumptions:
500,000 tons of coal and an average of 120 tons per coal car equals 4,166 loaded cars. Using an average of 110 cars per train it would take 38 coal trains to move that coal. That is 4.22 coal trains per month.
Check out the train board:
http://www.trainboard.com/ultimatebb.php/ubb/get_topic/f/108/t/000005/p/1.html
A couple posts from the train board:
"for the tonnage per car, it would depend on the type of car.
Different coal cars would have different capacities, however, each one would be in the 100-150 ton per car range, based on the tonnage charts I've seen on our coal trains.
So, at 150 tons a car, a 113 car train would weigh in at close to 17,000 tons.
The lower the capacity of the car, the more cars to reach 17,000 tons.
When looking at a certain car, to see how much it can carry, look at the reporting marks.
LT WT is the 'Light Weight' of the car. Thats the cars weight empty.
CAPY is the 'Capacity' it is designed to carry.
LD LMT is the 'Load Limit' it can carry safely.
These numbers are in pounds.
Remembering 2000lbs is a ton, a car with a 100,000 lb CAPY would be able to carry 50tons, and so on."
"I love to rehash old topics, lol.
At the begin of this of this topic HemiAdda2d wanted to know about coal train tonnage. Out of the Powder River Basin (PRB) in Wyoming the mines can load each coal car to 143(x) tons (gross car weight). The (x) allows for a one ton overage or 144 tons per car, but most of the time call it 143 tons per car. (This is a track weight restriction). Lightweight cars (aluminum cars) have any empty weight of around 20 - 23 tons, steel cars have any empty weight of 40 - 43 tons. So you are talking around 120 tons of coal per car for aluminum cars and 100 tons of coal per steel car (more or less).
Okay a real life example, this morning I pulled a BNSF train out of Rawhide mine. 135 loads 3 locos, total weight about 19200 tons., was over 7300 feet long, with 12800 Hp. The sad thing is that this only gives you 0.7 Hp/Ton.
Coal train out of the PRB vary from about 85 cars up to 135 cars. Most trains are in the 110 to 135 car range."
Some pictures of Foundation Coal, Central Appalachia Operations:
http://www.foundationcoal.com/operations/cAppalachia.cfm
8K 03/31-engaged Pender Newkirk & Company LLP, Certified Public Accountants
ITEM 4.01 CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.
Effective March 30, 2006, Geotec Thermal Generators, Inc. (the "Company") engaged Pender Newkirk & Company LLP, Certified Public Accountants, as its new principal independent accountant for the fiscal year ended December 31, 2005. Pender Newkirk & Company LLP is succeeding Sherb & Co. LLP ("Sherb & Co.") who resigned by letter dated April 22, 2005. Sherb & Co. had been the independent registered public accounting firm for and audited the financial statements of the Company as of December 31, 2004 and for the two years then ended.
The reports of Sherb & Co. on the financial statements of the Company for the past two fiscal years contained no adverse opinion or disclaimer of opinion, and were not qualified or modified as to uncertainty, audit scope or accounting principles.
In connection with the audit for the two most recent fiscal years and in connection with Sherb & Co.'s review of the subsequent interim periods preceding their resignation, there were no disagreements between the Company and Sherb & Co. on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which, if not resolved to the satisfaction of Sherb & Co., would have caused Sherb & Co. to make reference thereto in their report on the Company's financial statements for these fiscal years. During the two most recent fiscal years and prior to the date hereof, the Company had no reportable events (as defined in Item 304(a)(1) of Regulation S-B).
The Company did not previously consult with Pender Newkirk & Company LLP regarding either (i) the application of accounting principles to a specified transaction, either completed or proposed; or (ii) the type of audit opinion that might be rendered on the Company's financial statements; or (iii) any matter that was either the subject matter of a disagreement (as defined in Item 304(a)(1)(iv)(A) of Regulation S-B) between the Company and Sherb & Co. Neither has the Company received any written or oral advice concluding there was an important factor to be considered by the Company in reaching a decision as to an accounting, auditing, or financial reporting issue.
Pender Newkirk & Company LLP has reviewed the disclosure in this report before it was filed with the Commission and has been provided an opportunity to furnish the Company with a letter addressed to the Commission containing any new information, clarification of the Company's expression of its views, or the respects in which it does not agree with the statements made by the Company in response to Item 304 of Regulation S-B. Pender Newkirk & Company LLP did not furnish a letter to the Commission.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
GEOTEC THERMAL GENERATORS, INC.
By:/s/ Bradley T. Ray
Bradley T. Ray, Chief Executive Officer
DATED: March 30, 2006
Coal - Synthetic Fuel Breakthrough
The end of oil? Breakthrough turns coal into clean diesel
The synthetic diesel "is much cleaner burning than conventional diesel, even cleaner burning than gasoline," said Rutgers University chemist Alan Goldman.
Goldman co-developed the process with Maurice Brookhart, a chemistry professor at the University of North Carolina at Chapel Hill.
HOUSTON. April 19, 2006. KAZINFORM - With the price of oil topping a wallet-busting U.S. $70 a barrel yesterday, the search for alternative fuels keeps heating up. Last week, scientists announced what may be a new end-run around the oil problem: producing diesel fuel from coal, natural gas, and organic material.
Reporting in the current issue of the Journal Science, researchers say they have developed a way to shuffle the carbon atoms derived from cheap fuel sources like coal to form more desirable combinations, such as ethane gas and diesel fuel.
In their study, scientists scrambled the makeup of hydrocarbons—organic compounds found in fossil fuels—using two chemical processes, one of which earned last year's Nobel Prize in chemistry; KAZINFORM quotes Sean Markey for National Geographic News.
The reaction produced ethane gas and diesel fuel.
The synthetic diesel "is much cleaner burning than conventional diesel, even cleaner burning than gasoline," said Rutgers University chemist Alan Goldman.
Goldman co-developed the process with Maurice Brookhart, a chemistry professor at the University of North Carolina at Chapel Hill.
"It's a very clever idea," Robert Bergman, a chemist at the University of California, Berkeley, told Science in an accompanying news report.
"I don't think this will be an industrial process tomorrow. But conceptually, it is important."
Nazi Germany
The technology might one day wring more diesel fuel and ethane gas from hydrocarbon byproducts produced by oil refineries.
But the new chemistry's greatest potential may be as a follow-up to an 80-year-old technology known as Fischer Trospch (FT) synthesis.
Developed by German scientists Franz Fischer and Hans Tropsch in the 1920s, FT synthesis converts carbon from coal, natural gas, or wood into hydrocarbons, including propane-like gas and diesel fuel.
Nazi Germany used the technique during World War II to manufacture synthetic fuel from coal, churning out 124,000 barrels a day by 1944.
Today oil-poor South Africa uses FT synthesis to distill most of the nation's diesel from its extensive coal deposits.
One downside to the process, however, is the output of so-called mid-size hydrocarbons—molecules with 4 to 8 carbon atoms—which can't be used as fuel.
Hydrocarbons consist of hydrogen and carbon atoms. The number of carbon atoms (anywhere from 1 to, say, 99) determines whether a particular hydrocarbon is a gas, liquid, or solid and whether it's the proper weight to burn as fuel.
Goldman says his new method can convert the otherwise low-value byproducts of the FT process into high-value fuels.
He says, for example, that two mid-size hydrocarbons with six carbon atoms each could be broken up and reassembled into a two-carbon molecule (ethane gas) and a ten-carbon molecule (diesel fuel).
The chemist thinks the breakthrough could deliver U.S. energy independence.
"The United States, for example, has 40 times as much energy in coal than we do in oil, and we have even more than that in oil shale," Goldman said.
"So I think Fischer-Tropsch chemistry is really the key to energy independence for the U.S., China, [and] India."
Key to Energy Independence?
In the U.S. the governors of Pennsylvania and Montana, both coal-rich states, have touted FT technology as a future source of homegrown diesel fuel.
Last September, Pennsylvania governor Edward Rendell said his state's government would buy fuel from a planned FT plant in the state designed to convert waste coal from mining operations into low-sulfur diesel.
Montana governor Brian Schweitzer has expressed even more ambitious plans. He believes Montana's 120 billion tons (109 billion metric tons) of coal could supply the nation's gas, diesel, and jet fuel needs for the next 40 years.
Because FT plants are expensive to build and maintain (an entry-level plant falls in the range of 1.5 billion U.S. dollars), the higher cost of FT synthetic fuels have made them too pricey for U.S. markets in the past.
"When oil was $20 a barrel, it really wasn't considered economical," Goldman, the Rutgers University chemist, said.
But today's high oil prices are now tipping the scales in favor of alternative fuels.
"Our hope is that what we've discovered will lead to something a little bit more economical [and] efficient," Goldman said.
Environmental Impact
One thorny issue is the net environmental impact of coal-based synthetic fuels.
According to the U.S. Environmental Protection Agency, FT fuels are cleaner burning than petroleum-derived products, producing fewer particulates and less dangerous nitrogen oxide.
But as FT fuels burn, they also release carbon dioxide and other greenhouse gases.
According to the U.S. Department of Energy's National Renewable Energy Laboratory, coal-based synthetic fuels may produce twice the greenhouse gas emissions of petroleum-based fuels.
Experts say one alternative may be the use of carbon collectors derived from animal waste, plants, and other organic material, which trap carbon from the atmosphere.
Coal Synfuel Tax - Worth $26 a Ton - Progress Energy
Synfuel Winning Favors and Scrutiny
To be sure, there are worthy projects. "Syngas" -- the gasifying of coal -- to generate electricity is getting increasing attention. Coal waste, meantime, can be transformed from an ecological nightmare to a low-cost way to produce electricity. Along those lines, Progress Energy vehemently defends its synfuel services, noting that it takes an otherwise environmental hazard -- coal waste -- and makes it usable.
April 19, 2006
Despite being in the heat of lobbying scandals, a few lawmakers in Congress are still doling out billions in tax breaks to the well-connected. The focus is now on synthetic fuels that are coal based. They receive billions in federal tax credits each year, which critics claim amount to insignificant chemical alternations just to get the tax benefits.
A recent expose in Time magazine points out that buried deep inside the pending 324-page budget is one provision that might otherwise go unnoticed. Specifically, it points to an obscure passage that would allow "synfuel" makers the right to base their tax credits as if the price of a barrel of oil were at 2004 levels. While that sounds sort of bland -- it's meant to be just that -- the reality is that it will put billions into the pockets of a very few.
"Last November the (synfuel) lobby scored a remarkable coup," says Time, in a piece dated March 6. "Buried deep in a bill called the Tax Relief Act of 2005, passed by the Senate on Nov. 18, was Section 559, titled Modification of Credit for Producing Fuel from a Nonconventional Source."
It's all worth $9 billion, says Time -- federal taxes saved between 2003 and 2005. The controversial tax credit is worth $1 billion to $3 billion annually and is allowed under "Section 29" of the tax code. That break is set to expire for all facilities in 2007.
In 1980, U.S. lawmakers envisioned the synthetic fuel tax credit as helping the country ease its dependence on foreign energy sources. Certainly, many companies have tried to create new fuel sources from coal. But, others have merely sprayed already marketable coal with pine tars and diesel fuels just so that they could argue it has been chemically altered. While there was no discernable difference in the coal, the tax credits had at certain points actually exceeded the cost of a ton of coal. In 2002, the Charleston (WV) Gazette reports that coal synfuel tax credits were worth $26 a ton, which was higher than the price of a ton of coal in the state.
The pending tax provision is now awaiting reconciliation by a House and Senate conference committee. Here's how it would affect the synfuel industry: Under the law as written, if oil prices stay below $50 a barrel, synfuel companies can take the full tax credit for every ton of synthetic coal they produce. Oil prices, of course, have risen to at least $60 a barrel and that means some of those credits can't be taken.
When the law was written, the rationale was that if oil prices rose, the market would then have the incentive to develop alternatives to crude. If the new provision sails through Congress, the synfuel makers could assume oil is well below today's price and at a level that they could qualify for the full tax deduction.
"The program remains controversial, in part because of the significant investment in plants and associated tax benefits by the owners," says Standard & Poor's credit analyst Jodi Hecht, in a previous report.
IRS Attention
In essence, the synfuel tax credits could reduce a corporation's effective tax bracket. Since 1995, the IRS has suspended the issuance of private letter rulings for synfuel plants at least four times. Companies that own, operate and benefit from tax credits are still at risk for audits of past tax years, Hecht adds. Furthermore, the potential liability grows over time as the production and current tax credits are used. Most of the nation's 56 synfuel plants are located east of the Mississippi River, with many of those in West Virginia and Kentucky.
The Time story reports that the synthetic fuel industry has formed a group called the Council for Energy Independence, which has spent $2 million lobbying Congress to preserve the tax credit. The price tag is apparently a good deal: It was able to revoke efforts by the IRS to recalculate just how the credits are calculated and helped kill bills in Congress that would wipe out the benefit.
The IRS, for its part, "continues to recognize that many taxpayers and their investors have relied on its long-standing ruling practice to make investments. Therefore, the [IRS] will continue to issue rulings on significant chemical change but only under" closer scrutiny. The agency acknowledged certain processes do not produce the "level of chemical change" and that those methods would get reviewed.
Lots of utilities are in the synfuel business: Cinergy Corp., Constellation Energy, Duquesne Light, DTE Energy, Dominion Resources, PacifiCorp, PPL Corp., SCANA Corp., Southern Co., Sempra Energy, TECO, Vectren Corp. and WPS Resources.
Progress Energy is also a synfuel maker. In filings with the U.S. Securities and Exchange Commission, it said that its losses tied to the fuel source between 2002 and 2004 were $400 million. But, it was able to take about $850 in tax credits. Basically, taxpayers subsidized a company profit in this endeavor of $450 million.
In its latest annual report, Utah-based Headwaters that makes synfuel-related products says, "Headwaters does not believe that production of synthetic fuel will be profitable absent the tax credits." TECO adds that the pending legislation to allow companies to peg their tax breaks to the price of oil in cheaper days is "very fair legislation."
To be sure, there are worthy projects. "Syngas" -- the gasifying of coal -- to generate electricity is getting increasing attention. Coal waste, meantime, can be transformed from an ecological nightmare to a low-cost way to produce electricity. Along those lines, Progress Energy vehemently defends its synfuel services, noting that it takes an otherwise environmental hazard -- coal waste -- and makes it usable.
Synfuel was a well-intentioned federal undertaking. And, in some cases, it remains a viable program. In others, however, it has been abused. The goal now before lawmakers is to narrow the scope of the law so as to weed out the legitimate projects from those that are merely shams.
Project Gob Pile from Pennsylvania
This is a must read for the informed fossil fuel groupie!!!!!
The report is in a Microsoft Word Document.
[bProject Gob Pile
Final Project Report
November 30, 2001
Western Pennsylvania Coalition for Abandoned Mine Reclamation[/b
http://www.amrclearinghouse.org/Sub/GOBpiles/ProjectGobPile/Project%20Gob%20Pile.doc
8K of 05/09 - cancel the 57,200,000 shares
ITEM 8.01 OTHER EVENTS.
On May 2, 2006, a court order (the "Order") affecting Geotec Thermal Generators, Inc. ("Geotec" or the "Company") was rendered in the marital dissolution matter styled: Susan Norris v. O'Brian P. Norris, No. 05-4981 FMCE 3890 (Cty. Ct. Broward Cty.) (hereinafter referred to as the "Norris Litigation"). In the Norris Litigation, Geotec sought to vacate portions of a divorce decree (the "Divorce Decree") that resulted in the issuance of 57,200,000 shares of Geotec common stock to Susan Norris' designee, Equities First Holdings, LLC. Geotec contended that Susan Norris (or any other person or entity) has never tendered any money or services (i.e., consideration) for the shares of Geotec common stock that she sought to obtain as a "marital asset" in the Norris Litigation. In the May 2, 2006 Order, the court stated that the Divorce Decree "does not bind Geotec." Accordingly, the Company instructed its transfer agent to cancel the 57,200,000 shares of its common stock issued to Susan Norris' designee, Equities First Holdings, LLC and such shares have been cancelled.
Quote from: greatday8 on May 09, 2006, 12:24:34 PM
8K of 05/09 - cancel the 57,200,000 shares
ITEM 8.01 OTHER EVENTS.
On May 2, 2006, a court order (the "Order") affecting Geotec Thermal Generators, Inc. ("Geotec" or the "Company") was rendered in the marital dissolution matter styled: Susan Norris v. O'Brian P. Norris, No. 05-4981 FMCE 3890 (Cty. Ct. Broward Cty.) (hereinafter referred to as the "Norris Litigation"). In the Norris Litigation, Geotec sought to vacate portions of a divorce decree (the "Divorce Decree") that resulted in the issuance of 57,200,000 shares of Geotec common stock to Susan Norris' designee, Equities First Holdings, LLC. Geotec contended that Susan Norris (or any other person or entity) has never tendered any money or services (i.e., consideration) for the shares of Geotec common stock that she sought to obtain as a "marital asset" in the Norris Litigation. In the May 2, 2006 Order, the court stated that the Divorce Decree "does not bind Geotec." Accordingly, the Company instructed its transfer agent to cancel the 57,200,000 shares of its common stock issued to Susan Norris' designee, Equities First Holdings, LLC and such shares have been cancelled.
so, just curious, but if i owned any shares of this company, i have now lost them, due to the fact that a judge sided w/ the Susan Norris and all the shares of the company are now hers, or just the shares of Brian Norris? just curious how this works...
Quote from: rv on May 09, 2006, 02:46:33 PM
Quote from: greatday8 on May 09, 2006, 12:24:34 PM
8K of 05/09 - cancel the 57,200,000 shares
ITEM 8.01 OTHER EVENTS.
On May 2, 2006, a court order (the "Order") affecting Geotec Thermal Generators, Inc. ("Geotec" or the "Company") was rendered in the marital dissolution matter styled: Susan Norris v. O'Brian P. Norris, No. 05-4981 FMCE 3890 (Cty. Ct. Broward Cty.) (hereinafter referred to as the "Norris Litigation"). In the Norris Litigation, Geotec sought to vacate portions of a divorce decree (the "Divorce Decree") that resulted in the issuance of 57,200,000 shares of Geotec common stock to Susan Norris' designee, Equities First Holdings, LLC. Geotec contended that Susan Norris (or any other person or entity) has never tendered any money or services (i.e., consideration) for the shares of Geotec common stock that she sought to obtain as a "marital asset" in the Norris Litigation. In the May 2, 2006 Order, the court stated that the Divorce Decree "does not bind Geotec." Accordingly, the Company instructed its transfer agent to cancel the 57,200,000 shares of its common stock issued to Susan Norris' designee, Equities First Holdings, LLC and such shares have been cancelled.
so, just curious, but if i owned any shares of this company, i have now lost them, due to the fact that a judge sided w/ the Susan Norris and all the shares of the company are now hers, or just the shares of Brian Norris? just curious how this works...
RV, reread the 8K!
Geotec prevailed!
The 57.2 million shares were canceled!
If Susan and Equities First had prevailed, they probably would have tried to make them free trading and sold them into the market. Now it becomes moot, since the shares were canceled.
Waste coal / discarded coal
I did a Google search on "Waste Coal" and found some interesting articles. I will post the links to a few.
These two are a 1st and 2nd article on building a power plant next to a 600 acre waste coal site with 38-40 million tons.
http://www.post-gazette.com/pg/06123/686805-114.stm
http://www.post-gazette.com/pg/06127/687511-58.stm
Plans to build a $612 million plant 50 miles northeast of Harrisburg PA to turn waste coal into diesel fuel. This article says 285 million tons of waste coal on 8,500 acres northeast and southwest Pennsylvania.
http://www.pittsburghlive.com/x/pittsburghtrib/s_379376.html
8K of 05/15/06 Amended and Restated Asset/Technology purchase agreements.
Item 1.01 Entry into a Material Definitive Agreement.
On May 12, 2006, Geotec Thermal Generators, Inc. ("Geotec" or the "Company") entered into an Amended and Restated Asset Purchase Agreement (the "Asset Agreement") with William D. Richardson, RichCorp, Inc. ("RichCorp"), RichCorp SRL ("Richcorp SRL"), an Argentine corporation and Rich Labs, Inc. ("Rich Labs") to obtain contractual rights and/or mineral rights held by RichCorp and/or Richcorp SRL regarding coal and coal by-products derived from several coal mines in Argentina and to facilitate acquisition of additional coal rights throughout South America and elsewhere in the world, (all of such rights and interests, including after acquired coal rights and interests are hereinafter referred to as the "Coal Interests") and, to obtain other assets from RichCorp and Rich Labs. The Asset Agreement follows completion of due diligence by the parties and their collective determination not to complete certain executory provisions of an agreement dated August 1, 2005.
In exchange for the Company's acquisition of the Coal Interests, the Company has tendered 10,000 shares of its convertible preferred stock (the "Preferred Shares") to RichCorp. The preferences relating to the Preferred Shares are summarized on each certificate representing such shares and entitle RichCorp to convert the Preferred Shares to 10.5 million (10,500,000) restricted shares of the Company's common stock (the "Minimum Shares") up to a maximum of 21 million (21,000,000) restricted shares of the Company's common stock (the "Maximum Shares") based upon certain EBITDA criteria. Conversion of the Preferred Shares may be deferred at the option of the RichCorp until August 1, 2007 or August 1, 2008. As of the execution of this Agreement, 3,500,000 restricted shares of the Geotec's common stock (⅓ of the Minimum Shares) shall be deemed "earned" and may be issued and delivered to RichCorp. The balance (7,000,000 shares of Geotec's common stock) of the Minimum Shares shall be deemed earned when EBITDA for RichCorp equals twenty million dollars ($20,000,000.00) per year. On a pro rata basis, shares of Geotec's common stock above the Minimum Shares and up to the Maximum Shares shall be deemed earned when EBITDA for RichCorp exceeds twenty million dollars ($20,000,000.00) per year. The Maximum Shares shall be deemed earned when EBITDA for RichCorp equals forty million dollars ($40,000,000.00) per year. The total number of shares of Geotec's common stock shall not exceed 21,000,000 under the conversion terms of this paragraph or the preferences of the convertible Preferred Shares.
Also, on May 12, 2006, the Company entered into an Amended and Restated Technology Purchase Agreement (the "Technology Agreement") with William D. Richardson and RichCorp to acquire RichCorp's technology for the treatment of hydrocarbons and that is suitable for washing and processing coal, among other things
(the "Enzyme Technology"). Specifically, the Company purchased all of the Enzyme Technology which consists of rights to the proprietary technology related to the production, sale, use and management of said technology to cleave and bind specific molecules in the following arenas of application which include crude oil, blended oil, coal, refined oil and its products and sub-products, removal of sulfur and metals from hydrocarbons base materials including coal, renewable energy applications, environmental remediation, environmental applications for abatement and reduction, and other materials (with the express exception of the agricultural applications, metals extraction applications, mineral extraction applications and medical applications). The Technology Agreement amends, restates and clarifies an earlier agreement between the parties dated November 1, 2005.
In exchange for the Company's acquisition of the Enzyme Technology, the Company has tendered to RichCorp as complete consideration for the Enzyme Technology purchase, a total of ten thousand (10,000) shares of the Company's convertible preferred stock (the "Preferred Shares") with stock conversion exchange dates of November 1, 2006, 2007 and 2008. The preferences relating to the Preferred Shares are summarized on each certificate representing such shares and entitle RichCorp to convert the Preferred Shares to 10.5 million (10,500,000) restricted shares of Geotec's common stock (the "Minimum Shares") up to a maximum of 21 million (21,000,000) restricted shares of Geotec's common stock (the "Maximum Shares") based upon certain EBITDA criteria. Conversion of the Preferred Shares may be deferred at the option of RichCorp until November 1, 2007 or November 1, 2008. As of the execution of this Agreement, 3,500,000 restricted shares of Geotec's common stock (⅓ of the Minimum Shares) shall be deemed "earned" and may be issued and delivered to RichCorp, as referenced above. The balance (7,000,000 shares of Geotec's common stock) of the Minimum Shares shall be deemed earned when EBITDA for RichCorp equals twenty million dollars ($20,000,000.00) per year. On a pro rata basis, shares of Geotec's common stock above the Minimum Shares and up to the Maximum Shares shall be deemed earned when EBITDA for RichCorp exceeds twenty million dollars ($20,000,000.00) per year. The Maximum Shares shall be deemed earned when EBITDA for RichCorp equals forty million dollars ($40,000,000.00) per year. The total number of shares of Geotec's common stock shall not exceed 21,000,000 under the conversion terms of this paragraph or the preferences of the Preferred Shares.
The parties to the Asset Agreement and the Technology Agreement have agreed that all of the Preferred Shares and restricted common stock of the Company earned and obtained upon conversion under the two agreements shall be subject to the same restrictive transfer terms and conditions of Geotec's share lock up agreement, which extends for 5 years, until April 30, 2010, as filed with the United States Securities and Exchange Commission via the EDGAR system. The parties agreed that the share lock up agreement and provisions of the Asset Agreement and the Technology Agreement prohibit transfer of the Preferred Shares and the restricted common stock of the Company earned and obtained upon conversion for a period of five years until April 30, 2010.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
GEOTEC THERMAL GENERATORS, INC.
By:/s/
Bradley T. Ray
Bradley T. Ray, Chief Executive Officer
DATED: May 15, 2006
Current Report · Form 8-K
Filing Table of Contents
Document/Exhibit Description Pages Size
1: 8-K Current Report HTML 16K
2: EX-10.1 Material Contract HTML 34K
3: EX-10.2 Material Contract HTML 35K
Friday, July 07 GETC edged higher will all trades on the ASK except for one. Friday afternoon the Bid was changing to .066 and .067 without any trades. After day orders expired after market close, the Bid went to .06.
Strong buying at the open with the first trade for 50,000 shares.
Rec. Time Action Price Volume
3:47:52 PM Trade 0.07 11930
10:45:32 AM Trade 0.065 1800 (after this trade on ASK, the ask went to .07 and Bid .065)
10:28:58 AM Trade 0.06 6500 (trade on Bid)
9:43:02 AM Trade 0.065 10000
9:42:20 AM Trade 0.065 5000
9:37:42 AM Trade 0.06 5000
9:37:36 AM Trade 0.06 5000
9:37:28 AM Trade 0.06 50000
TecEnergy Pennsylvania, Inc. was formed to recover "alternative" energy by the reclamation and mining of waste coal piles in Pennsylvania. There are many millions of tons of waste coal materials deposited throughout the State which currently pose an environmental problem and yet offer the opportunity to provide un-captured and much needed energy.
TecEnergy will process this waste material in an efficient and environmentally acceptable manner to recover valuable energy and in doing so will provide an environmental solution to the surrounding area.
(http://www.tecenergypa.com/graf/homepic1%20copy.gif)
What we do
TecEnergy Pennsylvania, Inc. will approach the remediation and recovery of energy from waste coal piles in three different stages.
1. We will recover the lower BTU value material from the waste piles for provision to local power generating stations that can use and mix the material to create a satisfactory fuel.
2. We will recover the more valuable material from the piles using screening systems that allow us to select particular sizes of higher BTU material that can be used as fuel.
3. Subject to appropriate permits and regulatory approvals we will use technology to maximise the value that can be generated from waste coal. Technology will be used to create a valuable fuel or to generate "green" electricity in an environmentally friendly and acceptable manner. It is envisaged that the provision and implementation of such solutions will allow the Company to generate valuable tax credits that have been created by Government.
(http://www.tecenergypa.com/graf/homepic2%20copy.gif)
TecEnergy PA (http://www.tecenergypa.com/index.php)
The License!!!
TecEnergy pa (http://www.tecenergypa.com/license.php)
(http://www.tecenergypa.com/nh/license2.gif)
I talked with Bradley once, in April 2006. Early July I tried several time to catch Bradley, but he was out of the office in meetings and traveling. When the CEO is traveling a lot, it has to be good.
Bradley said if shareholders read the filings they should expect the company to be working on several things and find some answers.
Highlights:
1. It will take time to put the deal together.
2. They have identified coal sites. 4 sites at the time. Did not clarify if they have the rights to or own the coal.
3. They have a target of number of sites they plan to have coal rights and own.
4. Agreements call for a starting number of tons per day and growing to a much larger number.
5. Each site can have several revenue streams from the same pile of coal:
a. coal
b. crushed coal
c. gasified coal
d. fertilizer
e. dirt from the washing of coal
f. ground - sell the land after cleaned up
g. Coal that is too small or not usable for other purposes can be made into powdered coal
Brown fields is the current coal system. Geotec wants to make them Green Fields. There are 1.6 million people living near the waste coal piles and facilities. Geotec will take each of its sites, remove the coal and clean it up.
Shares issued and outstanding:
210,956,723 shares of common stock as of March 21, 2005
210,956,723 shares of Common Stock as of August 15, 2005
212,840,058 shares of Common Stock as of November 15, 2005
Posted by Woodschoo on my GETC board on ****:
Investors Hub - GETC - Geotec Thermal Generators, Inc.**(GETC) (http://www.investorshub.com/boards/board.asp?board_id=1412)
See post 551 - "called ta 161,696,725 is os"
We miss so much, due to lack of an update... :(
Do your own DD and invest based on your DD, not mine ! ;)
Technicals
Percentage Gainer
Last Price Quote is:
71.73%above 13-day MA
161.07%above 50-day MA
RS Rating: N/A
Fundamentals
Key Data:
Market Cap (M): N/A
P/E Ratio: N/A
PEG Ratio: N/A
Next Earnings: N/A
Last Analyst Rating: N/A
http://gettopstocks.blogspot.com/2008/04/why-coal-could-spike-in-10-days.html
Why Coal Could Spike in 10 Days
By Ian Cooper | Saturday, April 26th, 2008
China coal inventories are down to a 10-day supply.
For a country burning through more coal than the U.S., the E.U. and Japan combined, that's bad news.
With country reserves at 46 million tons, as of Thursday, it only enough supply to last maybe two weeks. Some regions, like Hebei only have enough reserve to last a week.
We're talking about a country where 70% of its energy is generated by coal-fired power plants. Lucky for China there aren't any big events coming up that'd attract millions and put extra strain on the country's power grid.
Phew! That would've been a disaster.
Oh... wait.
According to China officials, the country "is likely to be short of 10 gigawatts of electricity generating capacity by this summer," meaning that brown-outs and severe power shortages could be commonplace for millions watching the Summer Olympics.
But this shouldn't come as a shock. The once abundant and reliable source of energy is in short supply and under high demand. And if you think the 50% rise in coal prices over the last five months was bad, just wait. It'll get worse.
More than 40 ships are waiting in Australian port waiting for coal deliveries, slowed by rain. China and Vietnam banned coal exports. India demand is up. Blackouts are common in South Africa and the Indonesia island of Java.
But while it's bad for China, it's great news for U.S. coal companies, which are predicting that global coal demand, will outstrip supply by 25 to 35 million metric tons. Coal consumption could rise 74% by 2030. India alone is expecting for its current annual demand of 460 million metric tons to quadruple by 2031.
That's great news for coal company earnings potential.
Digest that and we'd recommend keeping an eye on Arch Coal (ACI:NYSE), which just raised its dividend, and the Market Vectors Coal ETF (KOL), which tracks the performance of a Stowe Coal Index that includes 60 global coal production and transportation companies.
Sure, not every one is thrilled with coal. Eco-friendly friends worry that increased carbon emissions will put Earth one step closer to the grave. But we're investors. We're trying to make you as much money as possible in the shortest time possible.
Ian L. Cooper
Apr 27th, 2008, 08:39 AM #1310
Chris123
==================================================
That's a tough question because it depends what the end users specs are. At each power plants the specs may differ according to the need of that particular boiler.
Here's a sample spec from here: http://www.globalcoal.com/standard/seaspecs.cfm (May have to register to see?)
Shipments must conform entirely to the quality specifications shown below:
For Shipments originating from: RB AUS COL POL RUSS
Calorific Value (kcal/kg NCV) 6,000 6,000 6,000 6,000 6,000
Total Moisture (as received basis) 12% (max) 15% (max) 14% (max) 14% (max) 14% (max)
Volatile Matter (as received basis) 22% (min) 24% - 35% 31% - 37% 26% - 35% 26% - 35%
Ash (as received basis) 15% (max) 15% (max) 11% (max) 15% (max) 15% (max)
Sulphur (as received basis) 1% (max) 0.75% (max) 0.85% (max) 1% (max) 0.75% (max)
HGI 45 � 70 45 � 70 45 � 70 45 � 70 45 � 70
Nominal Topsize 50 mm 50 mm 50 mm 50 mm 50 mm
IDT (degrees celsius) 1,250 (min) 1,250 (min) 1,250 (min) 1,150 (min) 1,250 (min)
Calcium Oxide in ash (dry basis) 12% (max) 7% (max)
Remember, Geotec can pretty much tailor make the coal to meet the desired specifications needed. Some coal may be 75.00 coal while some Ultra high specialty may be 300.00 or more.
Custom coal can be traded as shown below:
http://www.globalcoal.com/custom/customcoal.cfm
CUSTOM COAL: SUMMARY
27 April 2008 02:34 PM London Time
Producers and consumers can run true real-time, quality-adjusted auctions and reverse auctions. Unlike many other systems of this nature, globalCOAL's Custom Coal System has been designed specifically with the coal industry in mind.
A typical reverse-auction might proceed as follows:
The consumer prepares suitable tender / RFP documents and invites its preferred or pre-screened suppliers (either known or identified through an online pre-qualification process) to participate.
The selected suppliers download the documentation (quality and delivery specs, contractual terms etc.) from globalCOAL's secure web servers.
Each supplier submits requested information (typically quality and an opening price) via the www.globalcoal.com website
During the anonymous and live onscreen bidding, the suppliers are ranked according to their relative competitiveness on a quality-adjusted basis. In addition to their pricing, suppliers can tweak their submitted quality specifications during live bidding and this will be evaluated in real time according to the buyer's evaluation formulae.
The consumer awards the contract to the lowest evaluated bid when the pre-defined event duration expires.
globalCOAL's Custom Coal System is highly customisable to meet the specific needs of the client. Specific features of the Custom Coal System include:
Real-time quality adjustment for calculation of evaluated prices.
"True" real-time transmission of incoming bids/offers (i.e. if a supplier in Australia types in a price, a competing supplier in Colombia would see the Australian supplier's (evaluated) price appear automatically on their screen within seconds.
Detailed records are compiled during bidding to ensure a fair and transparent market.
What I have learned on my visit to the sites is that during the cleaning process the bio-refinery seperates the coal coal even down to the highly desired "Coal fines".
Apr 29th, 2008, 05:24 PM #1346
Chris123
==================================================
Geotec and TTI are NOT wasting any time getting this monster up and running. Here are a few pictures of the last couple days, on my trip to some coal sites.......These pictures are from the Birmingham, ALabama TTI and Geotec sites. I never knew there were so many sites scattered around this country. IMO.......this is much bigger than I imagined.
(http://i133.photobucket.com/albums/q59/tabbi123/TTI%20Birmingham%20April%2028%20and%2029th%202008/DSC02378-1.jpg)
(http://i133.photobucket.com/albums/q59/tabbi123/TTI%20Birmingham%20April%2028%20and%2029th%202008/DSC02379.jpg)
(http://i133.photobucket.com/albums/q59/tabbi123/TTI%20Birmingham%20April%2028%20and%2029th%202008/DSC02380.jpg)
(http://i133.photobucket.com/albums/q59/tabbi123/TTI%20Birmingham%20April%2028%20and%2029th%202008/DSC02399.jpg)
Lots of coal everywere!!!
(http://i133.photobucket.com/albums/q59/tabbi123/TTI%20Birmingham%20April%2028%20and%2029th%202008/DSC02405.jpg)
Apr 29th, 2008, 10:11 PM #1353
Chris123
===============================================================
You're right.....that is Rick Lueck in the picture also the president of TTI and you also see the backside of the guy who probably made more money controlling the old "29 tax credit" machines before it ended 12/31/07. Information on TTI as many of you know is not very easy to find. TTI is a private company but ran about 1/3 of all the 29 tax credit machines....making Billions of dollars in revenue. Riding around for 2 days with these guys was mind boggling to put it mildly. They were not there to do the usual negotiation type meetings I'm use to hearing or being a part of. The deal is done! Now, the money has come to the table so to speak and some of the coal sites were picked out and Geotec management is telling them what is needed. To give a quick example of what went on.........Geotec arrives at a clean coal site that has recently been shut down and tells them what they can use and what they can't use. Then tells them what is needed and the phones are picked up calls are made and the equipment is on its way. Some equipment is coming from other sites in other states, while some equipment is ordered new.
I can tell you this! This contract is for 10 site but IMO this is just the tip of the iceberg with TTI. The new 45 tax credit paying 6.00 a ton is somewhat an incentive for these guys and they all believe it will be extended next year but they are already talking many more sites down the road, as this is just the start. Let me clarify here: The 45 tax credits will run for 10 years (that's why the 10 year contracts) but the facilities have to be placed in service (Producing and selling coal) before the end of this year. One of my questions was "How long will it take to get each site up and running?) There response was around 5 or 6 weeks.......that is why they were on the phone immediately ordering equipment to bring in for the fast set up.
Something else I want to stir up here before I fall a sleep.........We or at least I thought the coal to diesel (that is mentioned on the web-site) was something WAY WAY down the road...WRONG!
Bradley is advancing on ALL fronts and in ALL directions at the same time!!!
This is what I drove to the site.
(http://i133.photobucket.com/albums/q59/tabbi123/TTI%20Birmingham%20April%2028%20and%2029th%202008/DSC02385.jpg)
(http://i133.photobucket.com/albums/q59/tabbi123/TTI%20Birmingham%20April%2028%20and%2029th%202008/DSC02393.jpg)
A lot of this equipment will be removed (NOT NEEDED) and measurements were done making sure all Geotecs Mix tanks, biorefineries........will fit.
(http://i133.photobucket.com/albums/q59/tabbi123/TTI%20Birmingham%20April%2028%20and%2029th%202008/DSC02399.jpg)
Lots of slurry that NO one knows what to do with........ ::)
(http://i133.photobucket.com/albums/q59/tabbi123/TTI%20Birmingham%20April%2028%20and%2029th%202008/DSC02403.jpg)
(http://i133.photobucket.com/albums/q59/tabbi123/TTI%20Birmingham%20April%2028%20and%2029th%202008/DSC02404.jpg)
(http://i133.photobucket.com/albums/q59/tabbi123/TTI%20Birmingham%20April%2028%20and%2029th%202008/DSC02407.jpg)
(http://i133.photobucket.com/albums/q59/tabbi123/TTI%20Birmingham%20April%2028%20and%2029th%202008/DSC02406.jpg)
Apr 29th, 2008, 10:13 PM #1354
Chris123
==========================================================
Just another quick note.........there are 1000's of these old type wash plants scattered around........most have shut down or do just enough production to keep the permits up and current. Guess who can come in and get them up and running?
Apr 30th, 2008, 12:52 PM #1396
Chris123
=============================================================
Since I mentioned earnings and revenue...........If TTI and Geotec produce and sell coal in the 5 or 6 week projection I was hearing, do you all realize we have instant revenue in the hundreds of millions this quarter.....in tax credits alone? Then you can add the sell of coal or other products to those numbers.
There many people out there that know as much or more than I do about Geotecs contracts and the meaning of them.........and I'm sure those that know are buying this up "slowly" to gain as many shares as they can from those that just don't understand.
May 1st, 2008, 08:04 AM #1415
Chris123
=======================================================
Let me start off by saying this, trying to calculate the earnings and revenue Geotec will make this year is crazy at best. But, we can take a guess using ONLY the 10 TTI sites.....but that leaves more revenue OFF the table IMO than on it.
The coal to Diesel I will leave out because their are to many unknowns...but we do know 1 ton of coal will produce 4.5 barrels of diesel (42 gallons per barrel) that is 189 gallons per ton.....at about 4.00 retail per gallon.
Equals LOT OF REVENUE!
The 45 Tax credits (refined coal) are something we can learn and understand.
1. A facility as defined in the contract is 20 million tons of coal.
2. Tax credits are a little more than 6.00 a ton.
3. Tax credits are paid out at about 75% upfront for 10 year period.
4. Tax credits are paid when first ton of coal is sold.
So, ONE facility = 20,000,000 tons of coal and getting 6.00 per ton upfront.......
20,000,000 X 6 = 120,000,000 X 75% upfront = 90,000,000 per facility X 10 facilities =900,000,000 in revenue in tax credits alone.
Also, my 6 week projection may be wrong.......things may progress faster for the small facility you saw the pictures of. May be up and running in as little as 15 to 25 days. This facility is somewhat limited as to space and is projected to produce 125 tons in and netting 100 tons an hour out........this particular coal is 80% recoverable. The PA site as an example is 1/3 recoverable i.e. 3 tons processed nets 1 ton of coal. Also, the coal being cleaned at the Birmingham small site has a value of 105.00 per ton.
There is a much bigger site I toured the following day but I used a different camera...I thought I was driving but ended up riding with others and forgot my camera and haven't received the pictures yet.
The 2nd site and most others will process from 400 tons an hour to 1000 tons an hour.
Back to calculations of coal.
100 tons net an hour running (lowball) 10 hours a day......giving a total process and shipping cost of 18.00 a ton selling coal for (lowball) 80.00 a ton.
100 X's 10hours = 1000 tons daily X's 62.00 net = 62,000 per day revenue X's 5 days = 310,000 X's 4.33 weeks a month = 1,342,300.00 of annual coal revenue. (1 small site)
400 tons net an hour machine at other site = 1,342,300.00 X's 4 = 5,369,200.00 annual revenue.
If we use an average of a 400 ton net machine at 10 sites only (TTI ONLY) 53,692,000.00
Subtotal
TTI 10 sites 400 ton an hour machine: 53,000,000.00
45 Refine coal tax credits 10 sites: 900,000,000.00
Total 953,000,000.00 X's Geotec 20% =190,600,000.00
Geotec 20% TTI 80% (Since TTI insisted on funding this deal).
Net revenue 190,600,000
Shares Outstanding 255,000,000
Earnings per share .75
X's a PE of 15 = $11.25 per share
Now, do I think this will happen? NO
TTI will want to do many more sites, probably a 100. And we can't forget Geotec will have sites of there own and the splits will be reversed where Geotec gets 80% and TTI gets 20%.
And don't forget TecEnergy, and I'm sure many others we'll hear about shortly.
May 1st, 2008, 05:32 PM #1464
Chris123
=========================================================
A PR is very unlikely.......we received one around April 9th after the last 8K, some here have brought that up comparing Geotec Inc. (2005 new business model) to the Old Geo-thermal Generator company that they invested in prior to that. The last PR before the April 9th 2008 was back in March 2007 so some of the old disgruntled shareholders now see their chance to sell and move on. This is a positive development for all concerned IMO.....most have not done any DD on the new business plan and have the unusual opportunity to break even or make some profits from old investments, that they considered themselves perhaps bagholders!!!
What I believe we are seeing are the shorts trying to cover as the price gets pushed up from investors that know what is going on. For those that read charts they were saying to sell back in the teens.....and 99.9% of the time they would have been correct. Maybe once in a lifetime there comes along a real company that can break out of the penny world and IMO this one is that company........Well, maybe a few more did it like TASR if memory serves me.
Anyone thinking about buying in should read through the thread and do some DD.
I never answered your question........I think it all depends on the short term share holders.........Most of the shares the Longs have will not be sold anywhere near these levels. But, for those that bought in not really knowing what is going on will sell.........but in the end the PPS is heading NORTH for a while. IMO
May 1st, 2008, 09:48 PM #1470
Chris123
========================================================
JMHO but I believe we will see more 8K's concerning additional contracts first, then followed by a PR the same day so the guys in Europe will know it.
As for the hundreds of millions "tied to the tax credits" it is very likely that the time frame will be more like 15 to 25 days and then an interview would be my guess.
As for the sale of any additional coal assets.......Geotec is in the coal business and that is not PR or 8k worthy as that is expected in the coarse of business. (But, I'm not talking about "Refined Coal" here but just coal assets).
May 2nd, 2008, 08:00 AM #1477
Chris123
===========================================================
You have missed my point and that's what I had intended the reader(s), that were nervous about the gains this week. If you would have copied my entire post it would have made more since. There are shareholders here that apparently have not done much, if any DD on Geotec Inc. Some post as if this is another momentum play or PR pump and dump play they are use to playing in the penny world. I would rather those short term players take their quick profits and move on while the naked shorts are buying back shares they can't resale later, thus putting the shares in long term investors hands at soon to be very cheap prices. We read once in a great while about stocks that have 10000% gains but how many investors made those type gains? Most would have sold out at 100% or less and a few at higher levels. How many Geotec shareholders sold out in the teens making quick profits and now are waiting for it to fall back to re-enter, only watching it climb to higher highs?
We had 2 weeks of consolidation before this pop up and yesterday for a moment the ASK hit .505 before sellers or MM's came in to filled the gap. The best scenario for this now is to consolidate again making the weak hands sell as the "haves" take from the "have nots" or maybe better put the investors that "Knows" takes from the ones that "don't know".
And if you don't think there are many that NEED SHARES then stay tuned as this unfolds. GL
May 2nd, 2008, 08:18 AM #1478
Chris123
====================================================
Let me respond this way..........
If you had a technology that would impact the energy sector, had a huge short position, could not raise money by selling shares, what would you do?
You may go silent file only what you had to file and embed in the filings information that you know there is a good chance readers won't read. In the mean time you could develop your technology, buy back shares and offer demo's to your shareholders expecting them to see in the filings the information others will skim over. This would allow you to take a lemon and make lemonade.......Right? The last move may be to get contracts signed which would force you to file an 8K but by that time you would probably have your finances worked out and the plan set in place to make your lemonade.
If you are in the coal business, you do NOT have to file or PR when you sell coal. In fact you do not have to PR period! The long quiet period has been for a reason.........the reason is for us, the long term shareholders. There is still some maneuvering going on IMO but not for much longer.
May 03, 2008, 06:30 AM #1523
Chris123
===========================================
On my visit last week I had left my camera in my truck and road in the convoy with some others. I took some pictures the second day with my phone and pulled them off last night to upload.
The second site was shut down about 6 months ago (like so many were) when the old 29 Tax credits expired 12/31/2007 but will be up and running very shortly. As you can see or imagine the protein/enzyme and bio-refinery will plug into the existing wash plant with very little modifications to be made. You will see a couple conveyors and of coarse the coal will be separated as to size and use even down to 400 mesh or so which has the consistency of face powder. There are coal resources in the hundreds of millions that surround this site and in case
anyone is wondering YES there is room to put a building to house the protein / enzyme mix for temperatures below 40 degrees.
REMEMBER THESE WERE TAKEN WITH MY PHONE....BUT AT LEAST YOU CAN GET AN IDEA!
(http://i133.photobucket.com/albums/q59/tabbi123/TTI%20Birmingham%20April%2028%20and%2029th%202008/042908_09141.jpg)
(http://i133.photobucket.com/albums/q59/tabbi123/TTI%20Birmingham%20April%2028%20and%2029th%202008/042908_09152.jpg)
(http://i133.photobucket.com/albums/q59/tabbi123/TTI%20Birmingham%20April%2028%20and%2029th%202008/042908_09161.jpg)
(http://i133.photobucket.com/albums/q59/tabbi123/TTI%20Birmingham%20April%2028%20and%2029th%202008/042908_09162.jpg)
(http://i133.photobucket.com/albums/q59/tabbi123/TTI%20Birmingham%20April%2028%20and%2029th%202008/042908_09172.jpg)
(http://i133.photobucket.com/albums/q59/tabbi123/TTI%20Birmingham%20April%2028%20and%2029th%202008/042908_09173.jpg)
(http://i133.photobucket.com/albums/q59/tabbi123/TTI%20Birmingham%20April%2028%20and%2029th%202008/042908_09183.jpg)
(http://i133.photobucket.com/albums/q59/tabbi123/TTI%20Birmingham%20April%2028%20and%2029th%202008/042908_09182.jpg)
(http://i133.photobucket.com/albums/q59/tabbi123/TTI%20Birmingham%20April%2028%20and%2029th%202008/042908_09142.jpg)
May 03, 2008, 12:22 PM #1528
Chris123
==========================================================
Much of what I have learned over the last 3 years has been by reading and asking questions of Geotec management. Although, I do have family in the coal business in Eastern Kentucky I grew up and became familiar with the language or lingo if you will.
As you may or may not know Geotec offered very little, if any information through PR's so reading through the filings became a necessity to gain insight. If you read the filings closely you will find topics mentioned or as I put it (embedded) with very little expanding information. So, a couple years ago I picked up the phone and some of my questions got answered, mostly scientific and the rest did not. When Geotec offered a demonstration to shareholders I got an airline ticket, and off I went. Geotec has made demo's available to anyone that would like to go including at least one basher on another board just to shut him up (he did NOT go). And NO I do not have a majority stake in shares, I do have a few hundred thousand, but Bradley Ray has that title.
Applaud the work ! ;) ;D The thread..... ;D
Quote from: setravis on May 03, 2008, 03:04:04 PM
We miss so much, due to lack of an update... :(
Do your own DD and invest based on your DD, not mine ! ;)
Setravis... did members of this site miss much? There was very little interest in GETC when I was updating this thread. After I stopped updating, the thread died. I have this thread flagged to send me an email when a post is made and I received one Saturday....so, I stopped by.
Chris123 has done extensive DD and toured several sites with managment. I have updated this thread with recent information he has posted from his DD.
Now we will see if there is any interest from regular members of 3SOF, if anything was missed. Watching the posts and view count to see the amount of interest.
Everyone, good luck with your investments.
greatday8
Quote from: greatday8 on May 04, 2008, 06:16:44 PM
Quote from: setravis on May 03, 2008, 03:04:04 PM
We miss so much, due to lack of an update... :(
Do your own DD and invest based on your DD, not mine ! ;)
Setravis... did members of this site miss much? There was very little interest in GETC when I was updating this thread. After I stopped updating, the thread died. I have this thread flagged to send me an email when a post is made and I received one Saturday....so, I stopped by.
Chris123 has done extensive DD and toured several sites with managment. I have updated this thread with recent information he has posted from his DD.
Now we will see if there is any interest from regular members of 3SOF, if anything was missed. Watching the posts and view count to see the amount of interest.
Everyone, good luck with your investments.
greatday8
There is so much to keep track of here at 3SOF,
That we all do miss moves in a stock by not being able to track everything,
but we can not buy everything !
Reading the threads, posting to them...it can get to be a time consuming job, then we still have to take care of the old Portfolio.
Hang in there, I'm sure your post and threads do get attention ! ;)