+ Watch MNGA
on My Watchlist
liquid waste converts to clean-burn hydrogen, but will compete with plentiful natural gas.No debt with $2mill cash June 30 up from 1.4mill cash prior period..lets see what Oct 30 says, as recevables went from 19 to 99,000, Inventory up 25% from 656 to 821,000 with stockholders equity 6.2mill increasing 32% to 8.2mill.CEO former VP Inersol Rand and company has good patents.Small but risky! China Co-Investment does show on books, but not that much exposure, may even work out! If marketing works, looks feasable if Nat Gas prices don't tank. Ot is fun being only "All star" that isn't short this stock..must be on pot!
This stock spam was originally sent to TMFBent:MagneGas Secures $2.0 MM Investment Commitment, 20% of China Joint Venture Indication for First $1.0 MM Installment by June 30th, Remainder by September 30th TAMPA, FL, Jun 22, 2010 -- MagneGas Corporation ("MagneGas" or the "Company") (OTCBB: MNGA ), a producer of a metal working fuel and natural gas alternative made from liquid waste, announced today that Beijing-based DDI Industry International ("DDI") has signed an agreement to proceed with Phase II of the MagneGas China initiative. Under the terms of the Phase II agreement, DDI will acquire the exclusive MagneGas(TM) Technology and manufacturing rights for the Greater China market. As compensation DDI will directly invest $2.0 MM in MagneGas in two installments, and will grant to MagneGas 20% ownership in a new China-based Joint Venture. DDI has pledged the following: -- $1.0 MM by June 30, 2010-- $1.0 MM by September 30, 2010 Through the transaction, MagneGas is selling to DDI 14,814,815 shares of its common stock. Per the additional terms of the agreement, DDI will create a new China-based Joint Venture company ("MagneGas China") to house and administer the rights; DDI will seek to take this Joint Venture company public in the Asian market in the future. DDI will grant to MagneGas 20% of MagneGas China, giving the Company and its investors a significant and perpetual share of China market operations. MagneGas CEO Dr. Ruggero Santilli or his assignee will receive a full voting seat on the MagneGas China Board of Directors, and DDI CEO Allen Feng or his assignee will receive a full voting seat on the MagneGas Board of Directors. Previously in Phase I, DDI signed a Purchase Agreement for a 200kw Refinery at a price of $1.9 million and made a $950,000 down payment. As announced last week, the manufacturing of the Refinery is nearly complete, and the Company believes DDI will assume ownership and pay the $950,000 balance by no later than August 31, 2010. "We are very excited about our partnership with DDI and the opportunities now available to our company in the Greater China market," stated MagneGas President Richard Connelly. "DDI is a Beijing-based company with over 10 years of experience in environmental protection and waste disposal. DDI plans to use the MagneGas(TM) Technology to recycle sludge and food oil waste and create MagneGas(TM), which it intends to sell to fuel city buses and taxis, as well as for the metal working market. With the investment and equipment purchase from DDI, we are for the first time sufficiently capitalized to properly pursue the potential of the MagneGas(TM) Technology and its many applications." Added DDI CEO Allen Feng, "As China has evolved into the manufacture center of the world, the issue of environment pollution has become a top priority of the Chinese Government. The Chinese Government has pledged to invest 100 billion Yuan in the next three years to help solve this environment problem. By using MagneGas(TM) Technology, DDI believes it will make a significant contribution to this effort, helping China's 1.3 billion citizens enjoy a healthier, greener life." DDI has the option to extend the Phase II close until December 31, 2010, though it has provided written confirmation that it will proceed according to the schedule defined above. MagneGas management cannot offer any assurance as to the final closing date. To be added to the MagneGas investor email list, please email firstname.lastname@example.org with MNGA in the subject line. Become a MagneGas fan and follow the Company on Facebook -- visit www.facebook.com/MagneGas. About MagneGas Corporation (www.magnegas.com) Founded in 2007, Tampa-based MagneGas Corporation (OTCBB: MNGA ) is the producer of MagneGas(TM), a natural gas alternative and metal working fuel made from liquid waste such as sewage, sludge, manure and certain industrial and oil based liquid wastes. The Company's patented Plasma Arc Flow(TM) process gasifies liquid waste, creating a clean burning fuel that is essentially interchangeable with natural gas, but with lower green house gas emissions. MagneGas(TM) can be used for metal cutting, cooking, heating or powering bi fuel automobiles. *** PUT MNGA.OB ON YOUR WATCHLIST NOW!***Pay close attention to this company and make sure you do your HOMEWORK before you consult with your registered representative. We're going to release stocks that range from the sub penny level all the way up to the dollar mark. As always, thanks for being a member and get ready for more PROFIT$, PROFIT$ and PROFIT$!!!!The ShamrockStocks Teamhttp://www.shamrockstocks.com/disclaimer.htmlNever invest in any stock featured on our site or emails unless you can afford to lose your entire investment.********************************************************************************Make sure you always do your own research and consult with your own financial professional The disclaimer is to be read and fully understood before using our site, or joining our email list.The information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of the available data. Readers should always do their own due dilligence and consult a financial professional. ShamrockStocks.com encourages readers and investors to supplement the information in these reports with independent research and other professional advice. The owners of ShamrockStocks.com have been compensated $7,000 for coverage on MNGA by MNGA. All information on featured companies is provided by the companies profiled, or is available from public sources and ShamrockStocks.com makes no representations, warranties or guarantees as to the accuracy or completeness of the disclosure by the profiled companies. ShamrockStocks.com, nor any of its affiliates are not registered investment advisors or a broker dealers. None of the materials or advertisements herein constitute offers or solicitations to purchase or sell securities of the companies profiled herein and any decision to invest in any such company or other financial decisions should not be made based upon the information provide herein. Instead ShamrockStocks.com strongly urges you conduct a complete and independent investigation of the respective companies and consideration of all pertinent risks.
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ratings and Key Statistics provided by Zacks.
SEC Filings and Insider Transactions provided by Edgar Online.
Powered and implemented by Interactive Data Managed Solutions. Terms & Conditions