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Here it is not sure what today will bring with this news , NEW YORK, Aug 24, 2006 (PRIMEZONE via COMTEX) -- W2 Energy Inc. (Pink Sheets:WWEN) a developer of green energy, is pleased to announce a corporate status report. In regards to the 10-SB filing the company, on advice from its attorney and auditors have decided to pursue and file a SB-2 registration instead of the Form 10-SB. The corporation's board decided that in the best interest of the company a change filing formats which will enable the corporation to execute better on its business plan in a shorter period of time. The Form 10-SB does not allow for registration of a public offering of shares and the company would have to essentially file two separate statements which would cause a delay and increase the overall cost of the transaction. Due to a large number of institutional investor interest in the company and several acquisition candidates, the corporation's board along with its attorney feel the SB-2 registration is the best course of action as this time. This decision will cause a delay in the filings because of the added paperwork.
W2 Energy continues to work on developing joint ventures and strategic alliances to further the company's business plan. The corporation is presently negotiating Memorandums of Understanding with two large North American firms to jointly build and operate 10,000 bbd plants.
The company continues to work with its partner in New Zealand to further the development of that project which was announced earlier. The project continues to move forward and management is happy with the progress.
The 100 bbd plant upgrade is moving along well and renovations have been completed to house the larger plasma unit and our own GTL design.
W2 Energy has begun work to patent several of our technologies and processes and is retaining a patent attorney to files the relevant patents on our designs and improvements on the technologies.
The management of the corporation continues to strive to build shareholder value through market awareness and have begun negotiations with selected acquisition candidates which will complement the company's arsenal of revolutionary technologies as well as immediate cash flow.
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woah "Due to a large number of institutional investor interest in the company and several acquisition candidates, the corporation's board along with its attorney feel the SB-2 registration is the best course of action as this time."
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quote:Originally posted by Gary59: Due to a large number of institutional investor interest in the company and several acquisition candidates, the corporation's board along with its attorney feel the SB-2 registration is the best course of action as this time.
This part is really good, but only long term!
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Not too surprised...... I certainly expect institutional investor interest. I am not surprised that a company sitting on this kind of buildout would want to pursue acquisitions..SB-2 makes sense Suitors must also be hovering..
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yep, great for longs, if this all pans out WWEN is going to be a big player someday. The shorts may flip this today, but the chart looks so great i would love to see another big white candle.. who knows!? GL
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I'm out ... All but 5000 shares at .19 Late yesterday and at the open.. ALL is GOOD and will look for re-entry but NO-ONE likes surprises, the future possibility of dilution.. and selloff was predictable... Now to ...BEGIN !!!... the buyback...this afternoon
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SB2 registration is used for small cap company public offer. why WWEN changed plans not to file 10SB but SB2? does it mean possible more shares issued in the future? will it cause the dilution also?
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W2 Energy Inc. to Acquire $10M in Project Finance Prime Zone - August 28, 2006 6:00 AM ET
Related Quotes Symbol Last Chg WWEN Trade 0.155 0.00 Real time quote.
W2 Energy Inc. (Pink Sheets:WWEN), a developer of green energy, is pleased to announce it has passed the application process and is in underwriting with a mid-size south western banking firm to provide debt financing for a 1000 bbd (barrels per day) diesel fuel project. This project once completed will provide the company with a cash flow of approximately $20M per year.
The company is continuing to execute on its business plan to scale our plants to a size of 10,000 bbd. Our 100 bbd plant which has been primarily funded by the company will be utilized as a research facility and will be located near Drexel Plasma Institute in Philadelphia. The intent of this plant will be for research and development of new fuels that are more environmentally friendly as well as easily integrated into today's fuel distribution infrastructure.
The 1000 bbd plant will be the first plant W2 Energy will operate for profit and begin to fill our outstanding requests for production which currently run over US$2.0 billion. The plant will be a scale model of our 10,000 bbd design and will act as a working example for scale up to the larger systems. Once the finance is complete the project completion time will be approximately 1.5 years from ground breaking to completion.
The company continues to push forward on other projects including designs for 10,000 bbd plants and also plants designed specifically for electrical energy production. The corporation intends on financing these projects through both debt and joint venture partnerships.
About W2 Energy Inc.
W2 Energy Inc. is a growing, publicly traded company on the OTC (Symbol WWEN) that develops renewable energy technologies and applies it to new generation electrical power systems. Specifically, W2 Energy Inc. produces green power utilizing its core-patented technologies to produce green power generating and clean transportation fuel plants utilizing bio-mass and GTL technologies. W2 Energy Inc. has seasoned management and cutting edge technology. W2 Energy Inc. owns a large technology portfolio of patents and know-how that has been extensively validated and ready for commercial production.
Safe Harbor for Forward-Looking Statements: Except for historical information contained herein, statements are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the company's actual results in the future periods to differ materially from forecasted projections. These risks and uncertainties include, among other things, energy market volatility, product demand, market competition, and risk inherent to the company's research and development operations.
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you are welcome, jilly. by the way, i have been with wwen for a while. it is a good one for long term. but it is also something that could burn you if you want a shor term profit. ever since this past May after it rose up to 0.50, triggered by the so called AMEX application, it fell down. it even fell down 0.05 last month. i guess those MMs like to play with it. so, donot get panic on its dropping. patience will pay you sooner or later.
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