-------------------- Please DON'T invest on JMO. Do YOUR research. Invest UR money the way YOU would like to! Thanks! ;) Posts: 936 | From: Virginia | Registered: Aug 2007
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-------------------- Please DON'T invest on JMO. Do YOUR research. Invest UR money the way YOU would like to! Thanks! ;) Posts: 936 | From: Virginia | Registered: Aug 2007
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posted
PENNINGTON, N.J., Oct 03, 2007 (BUSINESS WIRE) -- WorldWater & Solar Technologies Corp. (WWAT.OB), developer and marketer of proprietary high-power solar systems, today announced that, on September 28, 2007, the Company entered into a Stock and Warrant Purchase Agreement with the Quercus Trust, whereby the Quercus Trust purchased 7.5 million shares of WorldWater's common stock at a price of $1.782 per share, for total proceeds of $13,365,000. The Agreement also provides for the issuance of warrants to the Quercus Trust for the purchase of 9.0 million additional shares of WorldWater's common stock at an exercise price of $1.815, subject to certain adjustments. The complete terms of the Agreement are detailed in a Form 8-K to be filed with the Securities and Exchange Commission today.
Prior to September 28, 2007, the Quercus Trust and its affiliates owned approximately 21.6 million shares of WorldWater common stock, representing approximately 12.2% of the equity ownership in the Company, or 8.2% on a fully diluted basis. With this Agreement, the Quercus Trust and its affiliates own approximately 16.4% of the equity ownership in WorldWater, or 10.6% on a fully diluted basis.
"We are extremely pleased that the Quercus Trust continues to see the value of our patented technologies and integrated solar applications," said Quentin T. Kelly, Chairman of WorldWater & Solar Technologies Corp. "Quercus focuses on environmental investments in next-generation sustainable energy companies, and their commitment to our Company reflects their belief in our product and business plan. The funds raised will serve to bolster our growth going forward, as we extend our production capabilities, particularly for construction of Entech CPV modules for our projects in Spain and the US, and with Emcore Solar for the purchase and implementation of their 500X and 1000X concentrator cells and systems that are being developed. All of this positions WorldWater for business expansion in 2008. We continue to see strong demand for our unique, large solar systems that are leading the way in providing clean, renewable energy."
-------------------- What can i say??I'm a greedy B*stard Posts: 312 | Registered: Mar 2006
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-------------------- Please DON'T invest on JMO. Do YOUR research. Invest UR money the way YOU would like to! Thanks! ;) Posts: 936 | From: Virginia | Registered: Aug 2007
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posted
ullnvr...you follow this closer than most, Do you think that having this guy step up means they will not be doing the share increase? I never saw a filing on the end result of that...do you happen to know?
quote:Originally posted by ullnvrknw: Gelbaum does financing at 1.782!!!! Up Up and away
posted
thanks Ullnvr...i've been wondering if they are already doing a little...slowly, so as to not kill the pps...But today looks like it is attempting a small move up...
-------------------- #1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards! Posts: 8890 | Registered: Jan 2006
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WorldWater & Solar Technologies Corp. and ENTECH, Inc. Sign Extension of LOI Pending Final Signatures for Merger WorldWater & Solar Technologies Corp. (OTC BB: WWAT), developer and marketer of proprietary high-power solar systems, and ENTECH, Inc. of Keller, Texas, a high tech supplier of solar technology to NASA for space operations, announced today that they have signed an extension of their Letter of Intent (LOI) to merge from October 15, 2007 to November 30, 2007 pending final signatures of the Merger Agreement.
The companies are jointly preparing the construction line for the ENTECH 20 X concentrator solar systems for volume production and installation in the second quarter of 2008.
About WorldWater & Solar Technologies Corp:
WorldWater & Solar Technologies Corporation is a full-service, international solar electric engineering and water management company with unique, high-powered and patented solar technology that can not only generate and distribute electricity, but can drive 1000 horsepower motors and pumps from sunshine independently or in conjunction with the electric grid, providing solutions to a broad spectrum of the world's electricity and water supply problems. For more information about WorldWater & Solar Technologies Corp., visit the website at www.worldwater.com.
About ENTECH, Inc:
ENTECH provides advanced solar energy technology for a variety of applications, ranging from day lighting systems for commercial buildings to solar power arrays for spacecraft. The company's patented solar power systems produce electricity from sunlight for applications on Earth (terrestrial power) and in space (spacecraft power). ENTECH's Fresnel lenses capture sunlight and focus it onto small solar cells, thereby reducing electricity costs compared to conventional flat-plate (planar) solar energy approaches. Additional information can be found at http://www.entechsolar.com.
-------------------- #1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards! Posts: 8890 | Registered: Jan 2006
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posted
TDa wont let me buy in to this one..what the hell...i have funds and it says something about nonmarginal security..
-------------------- If your not on the edge of ur seat, sell it! Everything posted is my opinion! Posts: 992 | From: H-town | Registered: Nov 2006
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posted
i dont have a margin balance..its all cash...
it reads funds not available for this transaction of a nonmarginal security...guess i should call
-------------------- If your not on the edge of ur seat, sell it! Everything posted is my opinion! Posts: 992 | From: H-town | Registered: Nov 2006
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posted
Heya. Looks like the last down-swing is over.. there's resistance at 1.87, for now. Supposing the seller is bought all out, next ceiling would be around 2.07 or so..
-------------------- the market is not your mother Posts: 1282 | From: Montreal | Registered: Mar 2006
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