Apparently no one is posting about RGUS, but there really should be interest at this time. I have owned it, paying some attention for 15 years and, finally, it seems like it is going to happen. Or it won't, but we should know something within 2 months, and a lot within 6 months. Of course, that thinking has never worked before, but then, that's why the stock is 14 cents. I submit that now isn't before. That doesn't mean things will work out, but they will shortly be testing a hopefully viable product.
Zhongling Hangke New Energy to acquire 20% of Reg Technologies; proceeds supporting RadMax demo rotary engine
30 December 2013
Reg Technologies Inc., developer of axial vane rotary engine technology (earlier post), has entered into a subscription agreement with an affiliated company of HK Zhongling Hangke New Energy Investment Holding Group Limited for a C$1,188,000 (US$1,116,000) private placement under which Zhongling will purchase up to 9,900,000 units of Reg Tech priced at C$0.12 per unit, with each unit consisting of one common share of Reg Tech and one warrant, with each warrant exercisable for three years at C$0.15 for one common share. When the private placement is completed, Zhongling would own 19.98% of Reg Tech’s common shares.
Net proceeds of approximately $1,158,000 from this private placement will be used for assembly and testing costs of the RadMax Demonstration Model, accounts payable, including intercompany payables and redemption of a promissory note to a related party, and working capital purposes.
At the closing Reg Tech. agrees to obtain the resignation from two of its directors, and to appoint two new directors from Zhongling.
Reg Technologies Inc. and REGI U.S., Inc. are developing for commercialization an improved axial vane type rotary engine known as the Rand Cam/RadMax. The RadMax engine has only two unique moving parts, the vanes (up to 12) and the rotor, compared to the 40 moving parts in a simple four-cylinder piston engine.
This design makes it possible to produce up to 24 continuous power impulses per one rotation that is vibration-free and extremely quiet.
The RadMax engine also has multitude capabilities allowing it to operate on fuels including gasoline, natural gas, hydrogen, propane and diesel.
Zhongling Hangke New Energy Investment Holding Group Limited, a Hong Kong private company, is involved in the research and de
Want News? Here's NEWS! It is good to see people are still buying jr's shares
As of 11:59pm ET November 16th, 2013
Date Insider Name Ownership
Type Securities Nature of transaction # or value acquired or disposed of Price
Nov 15/13 Nov 15/13 Robertson, John Direct Ownership Common Shares 10 - Disposition in the public market -15,000 $0.140
Nov 15/13 Nov 14/13 Robertson, John Direct Ownership Common Shares 10 - Disposition in the public market -15,000 $0.130
Nov 14/13 Nov 11/13 Robertson, John Direct Ownership Common Shares 10 - Disposition in the public market -5,000 $0.120
Nov 14/13 Nov 11/13 Robertson, John Direct Ownership Common Shares 10 - Disposition in the public market -45,000 $0.10
Hello "star". I do talk to Arnie at least once a month, but I am not an "insider." There is certainly no firm date on when testing will begin, as it depends on when they receive the 48 seals (supposedly shipped last Friday), and when they receive the new test apparatus. As always, there have been delays and more delays, I think partly because Regi is always dead broke and pays too slowly. One goes out on a limb to ever project timelines for Regi, but it would appear that Porter can BEGIN testing before the end of November. There are many different aspects to be tested, and testing by Porter will continue for some time. Then there will be official testing by an independent party.
The real grounds for near time "good news" concerns the significant number of apparently very interested parties, and the expectation of news concerning at least one of them this year. In addition, there are many more parties waiting for the results of the independent testing. I suggest you call Arnie about these near term possibilities (800-665-4616, Ext. 1). Although he won't say anything too specific, still, it seems likely that at least one such deal or arrangement will be made public this year, and quite possibly in November.
The way I handle Regi's notorious slowness is to (a) remind myself that they are in a far better position now, with much better prospects, than they had two years ago, and two years ago they were in a much better position than 4 years ago, and (b) the incredible slowness has caused the price to keep going down while prospects keep getting better, allowing me to increase my position very cheaply.