Message #20 From:
humbledhawk59 Date: November 20, 2007 02:59:37 AM
TMEN - buying alert after the DOE meeting.jmo
Alert for ThermoEnergy Corporation (OTCBB: TMEN), an integrated technologies company seeking to develop and commercialize patented water treatment and clean energy technologies. ThermoEnergy provides proprietary solutions for removing nitrogen from wastewater streams, converting sewage sludge to a renewable high-energy fuel, and enabling the conversion of coal and other hydrocarbon fuels into energy with zero air emissions.
Clean power from soft coal: On March 15, 2007, the company announced the release of a study by the Canadian Ministry of Natural Resources on Thermo's patented "clean coal" combustion technology, called TIPS. Unlike competitive technologies that release pollutants directly into the atmosphere, TIPS produces electricity from soft coal with near zero air emissions. Toxic chemicals and greenhouse gases including NOx, SOx, mercury, and CO2 are "bottled" and sold to industry, providing additional revenue. The U.S. Government recently authorized $2.3 million for TIPS research and development. Thermo is currently using this money to expedite the development and commercialization of TIPS technology. With an estimated 300-year supply of domestic soft coal, TIPS offers a unique solution for U.S. energy independence with near-zero release of greenhouse gases and harmful pollutants.
Wastewater treatment: On April 16, the company confirmed that it will acquireCASTion Corporation, one of the prime subcontractors to ThermoEnergy for the assembly of the company's $11.5 million New York City ARP project, currently underway. Thermo's Ammonia Recovery Process (ARP) is a cost effective method for removing ammonia (nitrogen) from waste water in municipal, agricultural or industrial applications. With a reported 148 ocean "dead zones" and other inland bodies of water and rivers that are threatened, ammonia recovery is a top priority for U.S. and international regulatory authorities. Dennis C. Cossey, Chairman and CEO, stated, "The post-acquisition entity will not only be stronger financially but will provide the intellectual property and human resources capable of growing the company on a global basis."
BOD appointment: On March 22, Thermo announced the appointment of Mr. Martin A. Roenigk as an Advisory Director to the Board of Directors. Mr. Roenigk currently serves as the Chairman and CEO of CompuDyne Corporation (NASDAQ: CDCY). Coinciding with his appointment as an Advisory Director, Mr. Roenigk made a $750,000 investment in ThermoEnergy, and obtained the right to make further investments in the company. Mr Roenigk also received a common stock purchase warrant subject to a minimum exercise price of $0.50 per share and a maximum exercise price of $1.00 per share. The company also includes Robert Trump as a longtime investor. In 2003, Mr Trump purchased $2,046,781 shares of TMEN at an average price of $0.845 per share. To date, Mr. Trump still holds his entire position.
Fundamentals:ThermoEnergy's FY 2006 financials shows revenue increased 293% from $268,932 in FY05 to $1,057,363 in FY06. Net loss narrowed from $(0.23) in 2005 to $(0.16) in 2006. First Quarter 2007 EPS loss improved to $(0.03) from $(0.06) versus the prior year. Selling and general administrative expenses dropped almost 50%, to $723K from approx. $1.4 million. Thermo boasts a high current ratio of 3.785, and claims to have sufficient cash on hand to continue operations through 2008. Sources: Company, SEC filings
2007-10-25
ThermoEnergy Announces $500,000 Contract To Supply Wastewater Recovery System
