Your funny, I am pretty sure the only person who ever hypothesized that they abandoned the Hybrid parallel was me, and that was based on them not responding to the final rejection in a timely manner. The USPTO has not documented it as abandoned. It is certainly active and waiting for a response from the latest non-final rejection. As I noted in a previous post, they revived it from the dead this Feb. Please do some DD and don't rely on others comments (especially if it is the same person you are trying to flame, ouch!). As for your comment that "you always get a first notice rejection". This is going to make you feel more angry and unhappy with me, but 2 of the 5 patents WARM has were granted with ZERO rejections. As to not having anything useful to say, some investors and potential investors don't/can't keep track of the patents (like you for example). I didn't slam them for first rejection, I just documented for anyone interested. I was also glad to see them revive the Hybrid Parallel Load Assist. In fact if you look at the date of the request for RCE on that patent (Feb 16) it might make someone ponder whether they had help from their latest advisor in pulling together what the hope will be a successful resurrection of that patent. I am simply reporting the facts.
Facts about their 5 patents granted to date:
Electric motor with heat pipes "1" had 1 non-final rejection
Electric motor with heat pipes "2" had 1 non-final rejection
Electric motor with heat pipes "3" had ZERO rejections
Totally enclosed heat pipe motor had ZERO rejections
Head pipe bearing cooler systems and methods had 1 non-final rejection
As I have consistently stated, I do not want them to rush the product, but I do want honesty and good management practices. If they had a good solid plan, and did their due diligence they wouldn't of put out that embaressingly wrong, very misleading, letter to share holders last year. It brings Hassett's credibility and honesty into question.
The hybrid parallel assis experienced its 4th non-final rejection in Feb, now the parallel power input gearbox has gotten its first non-final rejection. This means more cost to secure the pattens, and an issue with the scope of what is protected. Hopefully they will eventually get them through. But more importantly we need revenues now. An update would be nice, maybe Hassett will get back to the blog before the end of the year and let us know what happened to those 25 pumps. So much promise in the technology, so little follow through from management.
They need to do the math of how many trucks would be needing to restore power to a large city. Once they get that number (say it would take 1000 trucks), they then need to intelligently allocate this number across all utilities in the country. Large utilities (like ConEd and PG&E) would be required to keep more trucks on hand, and small cities perhaps may only need to have one or two. The focus should be that this would not be wasted money, that they would be returning value whether or not a disaster or attack occurs. This should be sold as a buy now so you are immediately prepared, not wait until disaster strikes (which was part of the silliness I found in their generator PR). The utility industry and government have been fretting about this risk since the mid-90s. WARM's generators could give them the solution they need.
Utilities already redirect trucks like this during disasters. If you have ever evacuated an the Gulf coast during a storm you will recall caravan's of trucks utility trucks from neighboring states driving south toward the storm as you drive north.
If nothing else maybe they should try to partner with a utility and start looking for government requests for proposals to tackle this problem to see if they can get funding to test the viability of using multiple MG units to replace power.
In early April the WSJ had an article about utility companies joining forces to stockpile critical pieces of electrical equipment that can be rushed to power companies if they are hit by terrorist attacks or other disasters that could cause extended blackouts. WARM's MG can be the solution to the loss of any of the critical components (i.e. components that cost millions and take a long time to construct).
The pitch WARM should be making is to the utility companies and the government is that having a fleet of vehicles evenly distributed across the country is a robust, economic solution to this risk. Their onboard power provides value in their day to day activities (i.e. its not a waste if a large disaster or tourist attack never happens), and as a quick, versatile response to a loss generators, high voltage transformers or transmission lines. There selling point should be that they replace the centralized power generation quickly and cheaply at the distribution level (i.e. plug into the grid at the distribution stubstations or at key buildings/installations). By minimizing the impact of destroying large electrical components it makes it very hard for anyone with ill intent to have much of an impact. If someone takes out a large substation near Los Angeles, the local utilities would be able to send their trucks with WARM’s MB to critical locations thus restoring power in a few hours to key places. Trucks in the rest of the country could then be redirected to the affected area (through agreements as those described for sharing large transformers) until the all distribution grids are back on line.
So the Emerson business unit Kato not only conducted the tests on the 625KVA generator, but will also supply the "production level" quantities of software and equipment for mobile generation. I read the blurb about suppliers as saying for the small purchases they will use Inverom and the southern California Ford truck company (who will buy the parts from whomever and tack on a profit), but that Kato would provide the software and associated hardware for large fleet purchases. Emerson has two brands, one of which is Kato and it specializes in "oil & gas, mining, power conditioning, and the military along with Motor-generator sets." Kato being involved in two business areas (a potential customer of generator/lisense for generator and a mobile power generation supplier) is a good sign. It means they have Emerson engineers interested and involved.
If you look at the picture of the generator test included in the yearly (this is not the 2013 rehashed photo we have been seeing), this test involved access to a large, expensive generator, and Emerson paying Kato engineers to approve, design, setup and conduct testing. It would be interesting to know if they came up with the plan to alter Warm's dispersion unit to produce consistent results within a specific parameter jointly with Kato engineers. So they are still working on the add-on cooling method, and that they probably have a long way to get to an integrated unit, but it seems product development is continuing to move in the right direction.
Blurb from yearly about KATO supplying equipment:
"For mobile power generation, the required software and its vehicle integration will be supplied by Inverom Corporation along with partner truck up-fitters. Production level quantities will be handled by KATO Engineering, a brand manufactured by Emerson Industrial Automation, a division of Emerson Electric Company, with a backup of multiple other sources, if needed, such as Regal Beloit, Generac, etc
From Oct press release
"San Francisco CA, October 23, 2015 -- (MARKET WIRE) – Hybrid Coating Technologies Inc. (HCTI:
OTCBB) is pleased to announce that it has entered into a definitive exclusive distribution agreement with
a US based coatings distributor for several of Hybrid’s floor coating formulations. Under the terms of the
agreement, the distributor will place and pay for a preliminary order of one 20 foot container of coatings
over the next two weeks for $160,000. "
In the yearly just put out
"We have had no significant operating revenues for the year ended December 31, 2015, save for samples sales of $5,815. "
I have a tiny tiny position just to force me to watch this stock to see if I want invest more (because someone highly recommended it). This lack of follow through is concerning. If I missed the reference to the Oct distribution agreement in the 10K please point it out.
Been here about as long as you. I think I know why you didn't sell at 0.90. Many forget that was before ELTP announced they were going it alone. I had decided that a big pharma buying in could have them valued over a dollar, and near a dollar anyway so I intentionally held. I sat down and really thought it through deciding that if it didn't happen I could just sit it out until they went to market. I did not expect them to drop back as low as they did (0.20s for a good stretch), and I didn't expect the price to stagnate so long after announcing submission for NDA. Looks like Elite will have to actually get the big $$ in their coffers from rolling out the drug to take off, but I'll be here waiting. Not at all worried about a failure from here, but after so long would like to see it priced like a research and development company and not a generic manufacturer.
I've tracked the EPIC news a bit and I'm wondering if the EPIC folks wanted to shake free of their existing company, get $$ buy into Elite. With that amount of cash they could bankroll the ADT development themselves. I figure we won't know that until after the EPIC deal closes, and a few months go by for any legal ramifications go through. The most the Chinese company can hold onto is the rights to market SequestOX. The marketing of the remaining drugs are up for grabs. Nasarat would probably prefer to finance parallel development of several drugs by giving shares to EPIC personnel who he has come to trust than liquidate any more with LPC.
These were not warrants as they were reported in Table 1 of form 4 which is reserved for non-derivatives. We can all see from the price on 2/3/2016 they were not made on the open market, so that means they were a private purchase. Why lameness is implying they were warrants is a mystery. There is no mention of warrants about to expire for these insiders any any of the historical SEC filings.
So despite what lameness is implying these guys put down actual money to buy these shares. Yes they got to do it privately, yes they did it the day before they released meaningful information. But they also didn't sell any shares as part of that run up (unless they did it in April after the new quarter started). So I don't see any down side to these stock purchases. Only up-side.
As for saying its an SEC violation I think that is a big leap. Insiders typically have prearranged windows of periods they can be stock and if they buy then its o.k. Plus if they don't sell on the news how did they benefit from the purchase (seriously we may end up back at 0.16).
Your so far down I would suggest holding. The negative things about this company is too little communication and way overly optimistic estimates of progress and timetable for revenue. But they have added a successful business man who has enough money and potential new income based on his own skill and reputation that he would not risk it on something that isn't likely to succeed much less be embarrassing. Also Emerson would not let their name be associated with a inept or suspect company. Because of these two recent events of external validation I think there is an almost a zero chance they are lying or faking anything, and a very good chance they will bring in revenue within 12 months.
So just keep waiting. You have nothing more to lose at this point....well not much compared to what you have already lost.
They built up a marketing, finance, and installation system for their mobile generation in the south western portion of the U.S. Breiten Capital will loan money to customers, and they have a large QVM (Quality Vehicle Modifier) Ford dealership that is willing to install their product in customers trucks. The QVM doesn’t mean Ford backs the technology, but it does mean the mechanics installing the technology understand how to do the modifications without damaging the truck, and perform the work following Ford’s recommendations for manufacturing, quality, and customer support. All these items provide credibility that will make it easier for a fleet to decide to retrofit a few vehicles. A big improvement over the previous choice of pulling into a small retrofit UPT garage of a company no one has ever heard of.
They have identified the first market customers who continues two generators. For these customers it doesn’t matter what the cost of fuel is, not longer having to tow a generator will be a significant advantage in terms of convenience and safety. While the potential revenue is going to not in the billions, any revenue is good at this point and it will validate the technology.
new board member, Bedi had an impressive (and it ended positively) tenure at Ford and has continued his career in relevant areas to WARM. He brings not only a business network and trust that goes with his untarnished tenure, but also marketing and finance experience. His involvement and belief in the revenue potential of the mobile generation technology likely greased the wheels to getting a large Ford dealership involved.
Hassette and Bibb purchased almost 1.5 million shares between them in Feb, after the Jan 2016 pump and Oct 2015 generator tests. Likely meaning no catastrophic design failures were revealed. The chance of such design failures decreases as more testing is performed.
Given we actually got updates recently, I thought I put on my optimistic hat and give a nod to the positives that have developed in the past few months. As a disclaimer all of them assume what we are hearing from the company is true, or at least close to the truth. They all point to progress being made to brining the technologies to market and securing revenue. While these events seem to show things are moving forward I do not think revenue is imminent. But with these developments I think the risk of not succeeding to some extent in at least one area is getting smaller.
dry pit submersibles
a new test in 2016 with significant improvement in power density. This component has been tested a few other times since 2013. The improvements are likely due to improvements in design since 2013 and transition from prototype unit to a properly machined/casted unit. Company has brought on a product manager to launch the product. Also, the spokesperson commenting on this is the Emerson executive. Potential significant given Emerson has been revealed to be testing the generator/alternator technology. Perhaps the size of the potential improvement in power density performance is piquing their interest in using their technology pump market.
The testing done in Oct was done on an Emerson generator using an testing company associated with Emerson, which leads one to believe Emerson is one of the potential licensees. Having such a large company interested in very significant. Obviously no legal documents have been signed or agreements made, but their involvement is a positive. Should they adopt the technology its credibility will be sealed. Testing resulted in need for more design work, but the fact they told us about it is a welcome change. Insider buying after the test indicates the design issues are not likely to be insurmountable.
I hope the WARM company has not taken any poor advice from their advisors to stretch the truth. If they got fined 7.5million for such violations it would probably result in them going completely under. Also hope this will have them be more forth coming in future SEC filings. I did notice in this yearly they did not estimate when they next 'hope' to bring in revenue. No mention of expected revenues is better than being wrong by 2+ years. So don't mention it again unless your 99% sure you will be there.
Staying out of trouble is easy.....DON'T LIE or MISLEAD!
As for him resigning, I have mixed emotions. He should be considered innocent until proven guilty. But if nothing else he is guilty of not being aware of information that he should of been aware of which is cause for concern as the issue is he made claims to investors that led to poor investment outcomes. I'm sure there is no question that he said EPA certification was right around the corner. He may have believed that, but because others did not it means he didn't make sure he had good information before he spoke. Meaning the buck stops at the guy at the top.
From the news articles on Ustian..
"The SEC said Ustian had led a "progressively desperate and fraudulent scheme" through news releases, conference calls and regulatory filings to deceive investors into believing that EPA certification was "right around the corner." It said that as late as June 2012, Ustian signaled that feedback from the EPA suggested that certification might come soon, despite knowing that the agency had refused to certify a proposed engine the prior month.The SEC said Navistar's lead engineer on the project had written in a June 4, 2012 email that the EPA response had been "unequivocally NO!," but soon retracted that email upon learning that "Dan put the gag order on us."
Dry pit submersible's are hardly mentioned. It looks like they are not necessarily bringing it to market themselves as they said their goal is to do either license or bring it to make themselves. So something must of stopped them from moving on the 25 pumps. Odd they told us plenty about the generators, but nothing about the pumps.
Bottom line I don't see revenues any time soon. Price will likely drop to teens again. Frankly I think their delays are due to technical issues. I hope they can work them out, but at least them being more open is a plus.
This non-sense about driving around an recharging electric cars didn't sit well with me, as I do not think there is much of a market. Same with fast charging a tesla. But their yearly says they expect their primary market to be "always plugged in" which means disaster relief, forestry, mining, etc. But they don't say what the current market is for those generators. But any revenue at this point is well appreciated.
"Our target markets will initially center on industries and entities that rarely or never unhook their tow-behind generators from their work trucks. In industry parlance, they are always plugged in."
Downside, is "we launch our MG30-MG80 products in the second half of 2016." So that means no revenues until Dec 31 2016 at the earliest.
No mention of the 25 dry pit submersible pumps or that business at all Bad sign. Maybe that completely evaporated because of another technical glitch.
Remember they said they hired someone to roll out the pumps, but the yearly says "As of March 21, 2015, we had four full time employees and no part time employees." So it looks like they are lying somewhere.
Also the peak finance legal issues are not quite done "The Court ordered additional briefing on certain issues which has now been completed. The Court has ordered another hearing to consider the DASA on April 1, 2016."
I do not think these results are bad. Its hard to nail a design the first time without any need to tweak things. This is wonderful they are letting us in on what is going on. Even if Emerson doesn't get back to testing, what they learned will be applicable to other generators (generator design hadn't changed in decades). This means they are making progress, and they are not pretending they are further ahead then they are. Big improvement!
I appreciate that they are sharing information. I read it as the generator licenses are held up indefintely. The test in Oct revealed that using CoolTech's technologies changed the performance of the generator in some way Emerson didn't like. But both agreed that the issues might be able to be addressed, after which they could re-test, and maybe pursue a license. CoolTech does not know when they will address the problem (or if they can successfully), nor whether Emerson will retest after they think they have a solution, and if they do when. For them to call this successful testing is interesting, but certainly not a failure.
In October 2015, Kato Engineering, a business unit of Emerson Electric, conducted two heat run tests. The tests were performed at a 0.8 power factor and tested rated load temperature using the Emerson LS 625KVA generator with and without the Cool Technologies heat dispersion system. The CoolTech results were then compared with results of tests performed at a 0.8 power factor using the generator's standard-issue, totally enclosed water-to-air cooled (TEWAC) system.
A comparison of all test results produced by the various testing agencies revealed a minor variance in some readings. A plan has been designed to optimize our technology to produce consistent results within a specific parameter. This should enable an OEM (original equipment manufacturer) to offer our technology as an option .
The successful testing also represents a significant advance in our product development agreements with manufacturing partners. We anticipate that we will begin to enter into license agreements upon completion of the required design refinements and field tests testing to industry or governmental standards. At this point, the product will be ready to be manufactured on the licensee's regular production line. Any additional field tests will be at the discretion of the licensee.
We don't know if licenses will be granted soon, but it was real info!
Not to worry, this was just posted 40 minutes ago by CoolTech. They are up and working hard in Florida with an early start of 10 a.m EDT.
"Beignets, boudins and Mello Joy coffee or sugar & spice with Tabasco sauce. The eyelids have slammed open. Cajun breakfast day at CoolTech"
My guess its Bibbs that does the tweets as it is obviously by someone who doesn't understand what snippets of technology articles make sense. Seems like with all his experience in multi-media he could put together a You Tube video of a mobile generating unit, one has to conclude that such a device simply doesn't exist.
From the website the only thing he is good for is communication, ironic given that is the investors major complaint, we don't much and what we do get has no substantive value. The on update that was important was the latest test results of 400% increase in power output. But that has not been incorporated into the companies link on Therman Dispersion- Third Party testing section. Either it didn't actually happen, or Bibb needs more coffee to do his job.
This is not price changing news. This is not revenue, this is just someone saying they would take a slice of the revenue should Cool Tech ever manage to sell MB, but also not taking any financial risk in doing so. Ultimate power truck as been able to accept orders for nearly 2 years, look at what that has done for stock holders. Someone please tell me why investors care that a dealership is willing to make a non binding, but formal agreement (bit stronger than a "gentlemen's agreement") that involves only upside and not cost or risk. These sales would not be done via the truck dealership's salesmen, but Breiten, so it would new customers. I can't even see a risk of it tarnishing the dealership's image if the MB units sucks because these customers would interact with Breiten, not the dealership. The Ford dealership would just provide the truck after the sale and move the truck through the supply chain. So if the MB unit failed to perform the customer would complain about Breiten and Cool Tech, not the Ford dealership. So they are looking at extra profit with no associated costs, or risks (neither financial, reputation, or legal).
Its been three months Hassett posted that he " will post responses to in the next few days on our MG and on the company", and we are closing in on the anniversary of his "best year ever" letter to shareholders. Surely we deserve more, but I fear we are just going to get a 10-K this week that announces they expect revenue in the last half of 2016.
The P code on Form 4 means "Open market or private purchase of non-derivative or derivative security". Your right definitely not on open market Not only that it was the day before they made the announcement about the board member. They haven't sold anything so I guess that doesn't matter.
I think it is a positive sign that some insiders are choosing to buy at the low prices, and a fairly substantial number of shares. Next week we should get the annual report.
I'm surprised Spirit Bear has not sold any of these shares. We are getting close to the 10-K being filed. It should reference the new hire employee they supposedly brought on to manage the pump manufacturing, and we should also get to see how much dilution has occurred. But SB not immediately dumping as many shares as they could as the price fell back toward 0.25 is interesting if not encouraging. The establishment of the blog with a lot of huff and puff about keeping us up to date is also a bit of a mystery. If it were done to prop up the price, isn't time for another post? Call me a dreamer (or an idiot) but I've been hoping maybe they aren't total and that they had to go quiet due to license negotiations. As another poster noted we are also coming up on the one year anniversary of the "best year ever" letter to shareholders. If they could just get that one cent revenue from someone for something, they could claim they meant a calendar year, not a FY.