CCGI & ECTY will do a merger. Will be announced shortly.
CCGI has been trying to go for a NYSE uplist, but they have not been able to make it happen, yet. They will want the merger with ECTY simply to get the NASDAQ listing.
CCGI as parent company will be the remainder entity.
WHile seemingly broke, CCGI has been able to raise money through it's Israeli network.
They tried to take aerovironment and failed.
THEY ARE MAKING AN OFFER ON ECTY.
I've been to a number of conferences with both ECTY & CCGI. Have spoken with Brar and Farkas on many occasions.
Let's just say it's an incredibly well educated hunch.
For CCGI to do a private placement to their buddies in Israel for the $1mm or so that it would take to clear up the labor dispute for the DOE would not be a problem. But the israeli investors will not give CCGI more money without a clear exit strategy for their continued investment. The Nasdaq listing gets those investors the higher exchange listing they need and the share volume to sell their stock sooner.