getmoreshares
1 week ago
Note 1 - Organization and Nature of Operations
Organization and Nature of Operations
Greenway Technologies, Inc. (collectively, βwe,β βus,β βourβ or the βCompanyβ), through its wholly owned subsidiary, Greenway Innovative Energy, Inc., is
primarily engaged in the research, development and commercialization of a proprietary Gas-to-Liquids (GTL) syngas conversion system that can be
economically scaled to meet individual natural gas field/resource requirements. The Companyβs proprietary and patented technology has been realized in
Greenwayβs first generation commercial-scale G-Reformer
TM unit (βG-Reformerβ), a unique and critical component of the Companyβs overall GTL technology
solution. Greenwayβs objective is to become a material direct and licensed producer of renewable GTL synthesized diesel, jet fuels, high value chemicals, as a
byproduct of the conversion process and hydrogen, with a near term focus on U.S. market opportunities.
Both of the Companyβs wholly-owned subsidiaries: Universal Media Corp and Logistix Technology Systems, Inc. are currently inactive.
petemantx
1 month ago
Page 16 of the Form 10K filed today reads
"In December 2010, UMED acquired the rights to approximately 1,440 acres of placer mining claims located on Bureau of Land Management (βBLMβ) land in Mohave County, Arizona for 5,066,000 shares of restricted Common A stock. Early indications, from samples taken and processed, provided reason to believe that the potential recovery value of the metals located on the 1,440 acres is significant, but only actual mining and processing will determine the ultimate value which may be realized from this property holding. The Company is currently exploring strategic options to partner or sell its interest in this acreage, while it focuses on its emerging GTL technology sales and marketing efforts.
Seems to me the company should sell these rights to acquire the money to get the prototype unit built and tested; anything to move this stock forward.
petemantx
2 months ago
No first-person info but good news this summer wouldn't surprise me; this is definitely not a dead play.
Hard to believe a possible globe-changing technology has been left on the shelf this long.
First it was fuel, then it was chemicals, later it was hydrogen, and what seems to be forgotten is the massive amount of water and electricity generated.
Somebody one day is going to pull their head out .... and recognize the potential.
So many rich oil 'wildcatters' and yet NONE willing to put up $15MM or so to possibly change the global landscape?
What about the world aid agencies, they don't see how this could bring, water, electricity,revenues to areas currently dying on the vine? They are about useless IMO. One trial balloon in Africa could show a way to change an entire continent that currently is more primitive than modern.
Money being pissed down every comical avenue politicians can find yet proven technology (at least on a very small platform at UTA) isn't deemed worthy of a drop of funding.
Think of how many view $15MM as play money worldwide (hell, this is only 1/2 the cost of an upscale CA or SF house these days) and yet what good use it could do via GWTI.
My money is on success for GWTI in the future - and this summer may be the starting point. My vote is for very positive results
petemantx
10 months ago
It amazes me how UTA has been able to come up with catalysts to turn syngas into fuel (diesel or jet), chemicals, hydrogen, I believe methane was mentioned (note this could be used by all major city dumps and there is next to unlimited methane gas in the ocean), and who knows how many other possibilities. As for the current G-reformers going to an electric power plant to turn into hydrogen, what happens to the balance of the syngas left after the hydrogen has been stripped, does it still contain other properties that would allow other end products to be produced or could it be processed simply to produce the vast amounts of water (I don't believe this is possible because water is simply H2O and they are stripping out the H but one never knows).
This technology does have world altering value IMO and that is why a measly $15MM or so holding up the initial prototype test was so damn frustrating. Once the hydrogen application shows to work exactly as planned (and there is absolutely NO reason it shouldn't) IMO there should be many suitors lined up at GWTI's door asking to have the same type of deal (with a nice buy in of company stock) for the oil and gas industry with the ability to change the arid lands of the world into arable lands.
For all his blustering but which IMO may be just plain BS, who should have jumped on this with both feet to advance clean energy and improved world living conditions is Bill Gates but IMO BG is simply looking out for BG.
I consider this electric company situation as a white knight saving the company for us initial investors. No other way I saw that would not entail the new investors completely wiping out current stockholders. I hope this new development saves the company and allows us current investors a chance to make a nice return on our investment. I am not looking for pie in the sky numbers (though they are not out of the question IMO) as even $1 to $2 would allow me to live my dreams.
petemantx
1 year ago
Something is inherently wrong with this investment on oh so many fronts.
1. The very small lab at UTA has proven over the last number of years that the process is safe (no high pressures or unstable materials that could cause problems, etc), the catalysts work for the original gas-to-fuel process and the newer gas-to-chemical products, the system doesn't require a large footprint or outlandish power requirements to run, etc. Bottom line is the system works.
2. What has been holding the company back has been said to be not having the funds to build an initial full-sized unit that can be set up to get Enginnering/Safety certifications for the plant, show the actual volume the plant can provide, and establish the profitablility of the unit in regards to value of output compared to costs to produce the output. Last I heard it was somewhere in the range of $15MM to get this unit up and running at the Wharton facility.
3. This technology could be world changing in being able to capture stranded gas worldwide, be able to use waste gases that today have to be flared from oil drilling operations or emitted into the air such as biomass ethane gas, etc The potential value is in the hundreds of billions of dollars. Yet they can't find some large gas, chemical, energy company, country that is mostly desert and could transform a lot of their wasted useless land into productive land that could be made arable with the water generated by the plant and small towns built with the electricity that could be generated from an attached turbine to the unit, or individuals that are quite wealthy so $15MM wouldn't cause them much damage should it prove ineffective? It just doesn't add up.
4. I know the company had an offer made to them a year or two ago that I was told looked pretty promising yet it was turned down by mgt, then within the last couple of months I was told by the company that they had 3 offers they were evaluating for potential partnership of some type and these were being considered. Well, it looks so far that they are going to be turned down.
Does mgt not realize the common stockholder at this juncture would jump at anything that would provide ANY chance whatsoever that the comopany can survive? Do they think a white knight is going to appear with just the deal they want? I question mgt as IMO this is looking so much like a lost cause and they are doing nothing as the water is rising in the small safety boat.
Why still have the UTA lab running? After years they pretty much know everything as to how the process runs so no new data can be forthcoming.
To me this is like having a new hydrogen powered engine that is totally proven out but it will take $25MM to get a prototype built and the company is saying they can't find a source to come up with the $25MM in a market that is in the hundreds of billions if not trillions worldwide.
Like I have been saying, something is strongly askew and it is damn frustrating to see no movement forward in years. Even a letter to the stockholders now and then would be greatly appreciated just to let us know somebody is doing something.
petemantx
3 years ago
What stuns me with GWTI is that they cannot find a player that will pony up $15MM or so to get the prototype machine finished so that the technology can be confirmed.
I realize the money is somewhat stout, but for a technology that could change the world, literally, by changing many areas that are currently deserts in the world into arable, productive lands and make those areas self-sustaining with the value of the products (chemicals, agricultural, etc) they would bring about it is a mere pittance, especially when you figure they are operating in a financial circle that includes untold numbers of very wealthy energy corporations and individual millionaire/billionaires.
When you consider the amounts invested in drilling that don't have that great a record for paying off and consider that GWTIs technology has been running with no problems at a small prototype in the UTA lab for years, one has to wonder and shake their head at the lack of many persons trying to become a major investor in this technology. The science is new but the production process contains no rare materials, no untold high manufacturing pressures or systems that would cause a major safety issue, and the resulting profits per machine are pretty much a sure thing why wouldn't some large world foundation put up this small amount to possibly help millions of people worldwide?
I believe we have the science, we just need to find the right partner to advance the science.
petemantx
3 years ago
Could there actually be a hint of progress moving forward for GWTI and the prototype plant?
Not counting on it but the trading has changed recently.
Nothing to get excited about yet IMO.
Sadly, I thought there were many wealthy people in the energy industry that would be able to see the tremendous opportunity of GWTI's technology, surely one or two very wealthy persons willing to back what will be a revolutionary new source of chemicals, water, and electricity to currently non-inhabitable areas, but they all seem to have their heads stuck where they can't see the light. Guess lemmings are the way of the world nowadays.
Disappointing.