I see that the 10% stockholders have not been issued the quarterly payment in stock since last year. I highly doubt they w paid in cash. I guess I missed the actual news forgoing payment. So now there are 700,000,000 million shares in the Piggy bank. I am so glad that I bailed out when the Authorized shares way back in 2010 went from 40,000,000 to 60,000,000.
Jenson had at least a copper parachute so some form of compensation was due. The insider reports also had Jenson having a nice clump of this POS, yet looking at the Major holders & transactions there is no mention of him. Where did His shares go?
Let me start by saying that APGI is an extremely speculative investment. They are nearly bankrupt. They have laid off their sales force and eliminated most of their management. They have 700 million outstanding shares and substantial debt that will need to be paid off before shareholders get anything.
Despite the above, APGI stock could have substantial value. Their duel fuel technology could have substantial value; as dirty diesel technology is replaced with cleaner natural gas, APGI's technology is the best patented approach for diesel engines 13 liters or above that exists anywhere. While it is by no means certain, there are growing indications that the shift from diesel to NG may occur (e.g., WPRT's 250% stock price rise this year, California's new regulatory and incentives environment, and Mexico City's new initiatives).
I'm not pumping. I think there is a greater than 50% chance this stock is headed to $0.00. But I think there is also some significant chance that the technology will be sold or sales will start materializing before bankruptcy occurs and shareholders who buy at these low levels will earn many times their investment.
I promised I would no longer post on the old GMTI then the new APGI circa 2010. The old Pumpers have long gone, and I was accused and condemned of being a negative who new nothing and the message board asked me to leave.
I had the original Greenman in the late 1990 that were making a profit, and were recycling tires.
I bailed out in 2010 when APGI went into a new business (Dual Conversion) and the stock Authorization went from 40 Million to 60 Million.i
Since 2010 no real contracts have made a profit. The latest news of re-aligning management and firing some sales force is a sign that the company is in debt that can never be made up
For anyone who thinks you can make a profit here, consider I bailed out when the Authorized stock went to 60 M.
So just after the Authorized stock was approved to go to 700,000,000 the cost cutting began.
Think about this, the company has been in debt for decades. So lets say the Dual Fuel is what APGI has been promoting since 2010 and all those dreams come true, what would be a profit or dividend on 700M shares. This of course does not include the 10% series A, B, C etc that have 1st dibs on assets.
After the best quarter in years, APGI still isn't selling enough to cover expenses, so it fired its CEO and most of its sales staff. That's the really bad news. The really good news is that they are now in a hunker down mode where they can wait for sales of their emissions reducing dual fuel technology to take off. Employees and debt holders believe enough to increase their risk. Seems like this is a good gamble: could turn out to be worth nothing, or it could turn out to be worth many times its current value. http://www.americanpowergroupinc.com/press-releases.html
American Power Group - Press Releases
American Power Group press releases for 2017.
Wow! Today's press release says revenues for the quarter ended March 31, 2017 were the highest in two and a half years. Last week's letter to shareholders says APGI's market for dual fuel conversions is in the billions. This stock is going to be huge!
With low oil and natural gas prices, APGI has been clobbered. The situation is about to dramatically change. The ports of Long Beach and Los Angeles, the four county Los Angeles region, the state of California, and eight other states have taken steps to have hundreds of thousands of diesel heavy duty trucks convert to natural gas. The Trump administration is also promoting natural gas as a way to create US jobs, reduce imports of foreign oil, and protect the environment. APGI is uniquely positioned to benefit from these trends with the leading product for converting 13-liter to 16-liter diesel trucks to dual natural gas/diesel fuel. Watch first quarter results begin to show what will become a huge boon for APGI!
So. Anyone want To tell me a little about this stock ?
I am lost!!!! APGI has just over $400K in Cash which covers about 1 months G&A. the working capital is in the hole 2 million plus.
They again per the conference call are looking for additional permits in Calf. They haven't sold many units there since the multiple news of how many approvals they have already. The flare gas capture to date had "NO SALE". They still are paying PORTER to bring more awareness to APGI with no results.
They will issue another 10% Preferred Stock issue (D or E), with warrants & Options I lost track.
3rd Quarter LOSS report is due.
Over 6 months since the last announced gross sale of 600K.
End of Quarter.. 4 days left in the 3rd Quarter so lets summarize.
The good news 1st. The rig count in ND increased by a few last week and is up to 30.
No new announced sales reported since the $600K "GROSS" on Feb 10th.
The G&A & Cost of Sales per Quarter each run roughly $1 Million.
The Interest payments to the 10% preferred stock will again be due.
My guess at this point in time is that the Net loss will be at least $1.5 Million.
Todays Conference call & 2nd Qtr earnings. What a JOKE!!!!
Bullish technical indication. Bullish technical indication: MACD goes green, Bulish cross in Stochastic oscillator and RSI is trading near to 57.255 level with positive bias, according to allotcbb.
Annual Meeting/ Proposing (abusinessbrain) To Run The Company. abusinessbrain hoping you show up as l am going to propose you run the company seeing as how you seem to have all the answers. I bet you would get unanimous support to step in. Hope to see you there as we need your brilliance. Mr. Jensen step aside.
JAWS! We need a bigger PIGGY BANK. Cut those trees, lift those barrels of INK.
You will now be voting to again increase the Authorized Shares from 200M to 350M! I bailed out at 40M to 60M.
Looking at the Core business's enclosed with the letter shows you all have been a failure and they are now going back to circa 2010 Duel Fuel that never generated the PROMISED rewards.
There is only about 60M shares actually outstanding and cant get above $.15 so who is going to buy the new remaining 290M that will remain in the fat PIGGY???.
NEWS. EXTENDING the measly line of credit for another year.
$500,000 put off for another year, What a JOKE!!!
Whats UP?. Could APGI have paid the interest due to the 10% in CASH for the 1st time or is it a delay in reporting?
Normally within a week the SEC reports/insider activity show the stock issued in lieu of cash. Midmonth & no reports.
Another stellar Qtr (looking forward that is), The only sale posted for the 2nd qtr was a "GROSS" sale of $600,000.
Look at the FINANCIALS, the COST OF SALES (786,000) plus G&A (1,005,000) is 3 TIMES more than the GROSS Sales. That doesn't include other costs (interest, Misc)
Latest Rig Count (April 15). Latest rig counts as of April 15 are worse than projections.
Nationwide current rigs 432 down from 514 in Feb and 11 down this week.
Bakken 26 rigs down from 36 in Feb 1 down this week.
Note the 26 rigs remaining in ND are all OIL no NG and the 26 are comprised of
Disposals Wells, and Injection Wells only!
So let's face It, the flare gas capture was a loser from the start there is so much PURE NG that is available so WHO would buy the mixed garbage gas that is recovered. Less
Melt down!. The next financial crisis is about to explode1
The Major Banks have BILLIONS of loans outstanding to the Oil/Gas companies, some of which are already in default. So think about this!!!
Do you actually think that these Companies are concerned with the "SLAP ON THE WRIST" fine for flaring GAS?
Wake up people, this another example of APGI's pipe dreams.