CORAL SPRINGS, Florida, August 30, 2016 /PRNewswire/ --
Factors such as federal research, governmental regulations and increased demand from the private sector are boosting alternative fuel uses to new heights. While Hydrogen and Carbon Based Fuel Technology advances, wall street funding continues to offer flexible financing for the development of the latest advancements. Alternative Energy companies and other OTC leaders in the markets today on watch are Xfuels Inc. (OTC: XFLS), SandRidge Energy, Inc., (OTC: SDOCQ), FuelCell Energy, Inc. (NASDAQ: FCEL), Ascent Solar Technologies, Inc. (OTCQB : ASTI) and Liquidmetal Technologies, Inc. (OTCBB: LQMT)
Xfuels Inc. (OTC: XFLS) is pleased to report today that it has entered into an Equity Purchase Agreement ("EPA") with an affiliate of Southridge LLC ("Southridge"), an institutional investor. The EPA provides Xfuels with the right, but no obligation, to sell stock to Southridge and the ability to designate the amount, minimum pricing, and timing of each capital draw-down, provided that the aggregate purchase amount available under the EPA is $3.5 million and ownership of Xfuels stock by Southridge is limited to 9.99% at any time, which as of August 29, 2016, would equal 6,121,101 shares.
Read the full XFLS Press Release at: http://financialnewsmedia.com/profiles/xfls.html
"We are pleased to put together this financing structure," said Xfuels CEO, Michael McLaren. "Access to this amount of flexible financing with modest dilution and the protection of a reasonable floor provides us with the capital to execute on our business plan." Michael McLaren further stated, "The funds will be used to increase production in our natural gas well joint venture, as well as implement our technologies on the site to produce the pilot Gas To Liquids (GTL) system, Hydrogen production technology and our Carbon Fuel Cell technology. This results in Xfuels controlling all aspects of implementing our ground breaking technology."
"We are excited by the prospects of our investment in Xfuels," added Stephen M. Hicks, Founder and CEO of Southridge. "We believe the EPA provides a solid foundation for the execution of Xfuel's attractive business plan."
In other market developments in the Alternative Energy & other OTC Emerging Company news:
SandRidge Energy, Inc., (OTC: SDOCQ) closed up over 100% at $0.04 on over 23Million shares traded by the market close on Monday. Sandridge recently indicated it planned to exit chapter 11 quickly, but shareholders were seeking an equity committee. Sandridge, an energy company, engages in the exploration, development, and production of crude oil, natural gas, and natural gas liquids primarily in the area of Mid-Continent in Oklahoma and Kansas
FuelCell Energy, Inc. (NASDAQ: FCEL), a global leader in the design, manufacture, operation and service of ultra-clean, efficient and reliable fuel cell power plants, announced the upcoming release of its third quarter financial results after Market Close on Wednesday, September 7, 2016. FuelCell Energy management will host a conference call with investors beginning at 10:00 a.m. Eastern Time on Thursday, September 8, 2016 to discuss the third quarter results for 2016.
Ascent Solar Technologies, Inc. (OTCQB : ASTI), a developer and manufacturer of state-of-the-art, flexible thin-film photovoltaic modules integrated into the Company's EnerPlex™ series of consumer products, announced recently that the Company's newest debuted product, the Kickr 7 FL (Feather-light), has received numerous "Best of Show" awards from the following media publications at the 2016 Outdoor Retailer Show in Salt Lake City, UT from August 3rd - 6th, 2016.
Liquidmetal Technologies, Inc. (OTCBB: LQMT) (OTCQB: LQMT), the world's leading developer of amorphous alloys, announced this month that it has entered into an amendment to its Securities Purchase Agreement, dated March 10, 2016, with Liquidmetal Technology Limited, a company owned and controlled by Professor Lugee Li. Under the amendment, Liquidmetal Technologies agreed to extend to December 31, 2016 the deadline for the purchase by Liquidmetal Technology Limited of the remaining 300,000,000 shares under the Securities Purchase Agreement. The original deadline for the follow-on investment was August 17, 2016, and the amendment will enable Professor Li to complete the international funds transfer process required for the remaining investment. Other than the extension of the closing date, the amendment did not materially modify the terms of the original Securities Purchase Agreement.
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