quote:Originally posted by ullnvrknw: Like i said, rookie traders. Going over $2 tomorrow
So, you're a prophet now?
WWAT went as low as 1.71 the day after I sold at 1.85.. and I called it going down, if I recall correctly..
What's rookie then -- getting your money out before a correction, or religious faith in a stock? Hmm...
I'm bullish on WWAT, I think it's a good long-term investment. But I play short term.. so I can sit there, watch it go down 5% and up another 10% -- or I can exit when I see it's gonna go down, and play my money elsewhere, for a better profit.
-------------------- the market is not your mother
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posted
Jeeze ullnvr...you just like to get under everyone's skin...donchya?!
I'm with you fourseven...I've been playing this for about 18 months or so...and swinging/flipping it is and/or was the best way to play it IMO... But hey...I'm just a "rookie"...LOL!
Oh...and the PPS is 1.94...and I don't think it has gone over 2 today...BUT I do think that when it goes over and holds above 2...it should have another small run...IMO
Hey Trade04...long time no see...hope all is well!
-------------------- #1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards!
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EWING, N.J., Oct 29, 2007 (BUSINESS WIRE) -- WorldWater & Solar Technologies Corp. (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 the execution of an Agreement and Plan of Merger pursuant to which ENTECH will merge with and into a wholly-owned subsidiary of WorldWater. Under the terms of the Agreement and Plan of Merger, WorldWater will pay the following consideration to ENTECH stockholders:
-- $5 million in cash;
-- Shares of common stock of WorldWater based on a formula which, assuming a $2.00 per share price of our common stock, would result in issuance to ENTECH stockholders of common stock valued at approximately $39,300,000; and
-- Earn-out consideration calculated as 5% of WorldWater's gross revenues determined in accordance with generally accepted accounting principles which will be paid until the accumulated total of such earn-out payments to the ENTECH stockholders equals $5,000,000.
In addition to the consideration to be paid to ENTECH's stockholders, WorldWater will pay $1.3 million of ENTECH's liabilities at closing and provide $5 million of working capital to commence the manufacture of the ENTECH 20x concentrator systems for a 50 MegaWatt plant in Spain. As a result of this transaction, it is anticipated that ENTECH's current stockholders will own approximately 6.6% of the fully-diluted post-transaction common stock of WorldWater upon completion of the merger, which is conditioned upon obtaining the requisite stockholder approval to increase WWAT authorized common stock.
As a WorldWater subsidiary, ENTECH will maintain its identity, location, and business operations in both terrestrial and space solar energy. The Company anticipates that ENTECH will continue to perform its contract work for NASA, the U.S. Department of Defense, and other customers, as well as its internal R&D programs.
Starting immediately, the company will begin construction of a 50 MegaWatt plant in Spain, which is expected to be in full production of the ENTECH 20x concentrator solar systems beginning in the second quarter of 2008. WorldWater has signed a Letter of Intent with the Spanish firm M & G Promociones for installation of ENTECH systems for 10 MW in 2008, 10 MW in 2009, 10 MW in 2010 and 50 MW in each of 2011 and 2012. WorldWater also has signed an agreement with Prime Solar Senergy S.L. of Madrid and Barcelona to represent the company in obtaining further business in the burgeoning Spanish solar market.
"This complex merger has taken considerable time since we signed the original Letter of Intent in July 2006, and I appreciate the patience of our shareholders and employees, but we firmly believe that the transaction will prove to be a pivotal point in our company's history. Together, we expect to become one of the lowest cost providers of solar energy in the world," said Quentin T. Kelly, Chairman and CEO of WorldWater & Solar Technologies. "This year, we've seen explosive interest and tremendous growth opportunities in large solar installations, particularly in places like Spain and the Southwestern United States, and we are now in a position to take the lead in providing multi-megawatts of electricity for major projects."
Dr. Walter Hesse, CEO of ENTECH, commented, "With the combined technologies of WorldWater and ENTECH, our solar systems will be capable of generating and delivering electrical and thermal energy on site to our customers at prices that are competitive with retail electric levels. ENTECH's 20x patented concentrator technology combined with WorldWater's proprietary control devices allow for the installation of large solar 'farms' with greatly reduced requirements for solar cell materials, and decreased reliance on rebates or other incentives for the funding of economically competitive installations."
-------------------- What can i say??I'm a greedy B*stard
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WorldWater & Solar Technologies Announces Completion of ENTECH Merger Monday January 28, 3:01 am ET Transaction Expedited by Quercus Trust
EWING, N.J.--(BUSINESS WIRE)--WorldWater & Solar Technologies Corp. (OTC BB: WWAT.OB - News), developer and marketer of proprietary high-power solar systems, today announced that it has closed the merger with ENTECH, Inc. of Keller, Texas. This transaction was made possible through agreement with one of WorldWater’s largest investors, the Quercus Trust (Quercus). Quercus exchanged 19.7 million of its common shares of WorldWater for 19,700 shares of convertible preferred stock and supplied WWAT with a $6 million bridge loan. The 19.7 million common shares and the bridge loan were subsequently utilized to complete the ENTECH merger. ADVERTISEMENT
Pursuant to the exchange agreement, once a shareholders meeting is held and additional common shares are authorized, a subsequent exchange with Quercus will be implemented. As a result, Quercus will receive 19.7 million common shares in exchange for the 19,700 shares of convertible preferred stock previously issued.
“The Quercus Trust, which has been an investor in our company since last spring, has demonstrated its strong commitment to both WorldWater and ENTECH by making this transaction possible on an expedited basis,” said Quentin T. Kelly, Chairman and CEO. “As our investors know, the merger with ENTECH, 19 months in the making, paves the way for our company to provide 20x concentrator PV systems to the U.S. and international markets at costs among the lowest of all solar suppliers, including thin film manufacturers. Quercus made it possible to move forward without further delays, allowing us to take advantage of the many opportunities now on the table across the globe. With solar energy taking on greater significance both in the U.S. and overseas — and oil prices at near all-time highs — we simply could not wait any longer to merge our two companies and leverage the resulting synergies. Quercus enabled this to happen.”
Dr. Walter Hesse, CEO of ENTECH, commented, “This is terrific. Now ENTECH and WorldWater & Solar Technologies can proceed with the production of our 20x concentrator lines. Together with WorldWater, we will be able to supply ‘solar farms’ throughout the world with electricity production at costs and efficiencies that we believe change the current economics of solar power – making it affordable to millions.”
-------------------- What can i say??I'm a greedy B*stard
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Pursuant to the exchange agreement, once a shareholders meeting is held and additional common shares are authorized, a subsequent exchange with Quercus will be implemented. As a result, Quercus will receive 19.7 million common shares in exchange for the 19,700 shares of convertible preferred stock previously issued.
is that dilution?
-------------------- the market is not your mother
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right. i'm just trying to figure out how this works..
Quercus bought up millions of common shares of WWAT; now they exchanged 19.7M of those shares for 19.7K preferred stock shares. so WWAT got 19.7M shares plus $6M to buy out Entech.
Now WWAT will dilute the common share pool by issuing more common stock (so the price should go down?), so that they can get back the 19.7K preferred stock and return 19.7M common shares to Quercus..
how does Quercus benefit from this? the assumption is they're not a charitable organization, and they're doing this for profit.. so if the dilution will drop the PPS, why would they go for this deal?
-------------------- the market is not your mother
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This deal(dilution) was happening with or without Quercus. Entech makes WWAT. Now they compete against the big boys like FSLR for contracts. This has to be the best dilution ever. Quercus gave them the shares because they need to close Entech before getting the spain loi into a contract. basically they are loaning them the shares(which does nothing to their current position) to get the ball rolling. It's not like they are in this stock for a trade,those will be tightly held shares for a long time. When it's all said and done they will have around 300 mill OS. They announced a while back they will need 30 mill to build a new plant for Entech.
-------------------- What can i say??I'm a greedy B*stard
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