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Nevada Geothermal (OTCBB: NGLPF) Could Benefit from Rise in Geothermal Energy Use in U.S.

Written by admin on Apr 14, 2011

Nevada Geothermal Power Inc. (OTCBB: NGLPF), a provider of renewable clean geothermal energy in the Western U.S., similar to companies like Chevron Corporation (NYSE: CVX) and U.S. Geothermal Inc. (Amex: HTM), is providing a unique source of energy that is growing in importance and usage in the U.S., according to a recent report by Fox Business News.

Nevada Geothermal Power Inc. (OTCBB: NGLPF), a provider of renewable clean geothermal energy in the Western U.S., is providing a unique source of energy that is growing in importance and usage in the U.S., according to a recent report by Fox Business News. In the article, the news agency reports that the total number of geothermal projects in the U.S. is increasing at a rate of 12%.

Read the whole story at the following link:
http://www.foxnews.com/scitech/2011/04/09/geothermal-energy-use-rise/

About Nevada Geothermal Power Inc.

Nevada Geothermal Power Inc. operates the 49.5 MW Faulkner 1 geothermal plant in Nevada. It is a growing, renewable energy developer focused on producing clean, efficient and sustainable geothermal electric power from high temperature geothermal resources in the United States. NGP currently owns leasehold interests in five properties: Blue Mountain, Pumpernickel Valley, Edna Mountain and North Valley in Nevada, and Crump Geyser, in Oregon. These properties are at different levels of exploration and development. NGP estimates a potential of between 150 MW and 300 MW from its current leaseholds.

For additional information visit the company’s website at http://www.nevadageothermal.com

Company Contact:
Paul Mitchell
pmitchell@nevadageothermal.com
Phone Number- 604-688-1553

For additional information visit the company’s website at http://www.nevadageothermal.com

Company Contact:

Paul Mitchell

pmitchell@nevadageothermal.com

Phone Number- 604-688-1553

Uptick Rule

Written by admin on Mar 09, 2011

Though the rule was eliminated in 2007, the uptick rule was a Securities and Exchange Commission (SEC) requirement that every short sale be entered at a price above the price of the previous trade. The uptick rule was designed to prevent short sellers from further depressing the price of a stock that was already in a steep decline because the rule meant a short seller could only sell securities after a price increase.

Why is it called the uptick rule?

The rule is referred to as the “uptick rule” because an uptick is a transaction occurring at a higher price than the previous transaction, and the rule required every short sale to be conducted on an uptick. The rule is sometimes also referred to as the “plus tick rule.”

What is the history of the uptick rule?

The uptick rule was introduced in the Securities Exchange Act of 1934 and formally called Rule 10a-1. After the SEC temporarily suspended the uptick rule on some securities in 2004, the rule was completely eliminated on July 6, 2007. The economic turmoil of 2008 has led to increased calls for the uptick rules reinstatement, though research on whether the uptick rule is effective in preventing stock market manipulation is mixed.

Did the uptick rule apply to all financial instruments?

The uptick rule never applied to certain financial instruments that were considered liquid enough that short selling could not manipulate the price. For instance, futures, currencies or market Electronically Traded Funds (ETFs) could be sold short on a downtick.

ZAP (OTC-BB: ZAAP) Completes Acquisition of China’s Jonway Automotive

Written by admin on

ZAP (OTC-BB: ZAAP), one of the world’s oldest consumer electric vehicle providers, operating in the same industry as companies like Tesla Motors, Inc. (Nasdaq: TSLA) and utilizing battery technologies similar to companies like A123 Systems, Inc. (Nasdaq: AONE), recently completed its acquisition of China’s Jonway Automotive.

Electric vehicle market pioneer ZAP (OTC-BB: ZAAP) announced today that it has completed its acquisition of 51 percent of the capital stock of Zhejiang Jonway Automobile Co. Ltd. of Sanmen, Zhejiang, China. Cathaya Capital LP has funded the aggregate amount of US$36 million.

The final payment of US$19 million related to the acquisition was made on January 21, 2011 with the funding from Cathaya Capital. Total cash payment for the acquisition of 51 percent of Jonway Automobile was US$30,030,000.

With ZAP’s electric vehicle (EV) technology expertise and international experience, the combined company intends to build the necessary production platform to address the Chinese EV market. The newly combined company, to be renamed ZAP Jonway, will leverage Jonway Auto’s A380 SUV, as well as its established distribution channels to the Chinese market with over 90 direct dealers. ZAP Jonway will manufacture and sell SUVs powered by ZAP’s electric drive train and expects to benefit from the 60,000 RMB (approximately US$9,000) government incentives granted to electric car buyers.

Jonway Automobile anticipates vehicle sales for its gasoline A380 SUV to increase by 40 percent to over 10,000 vehicles in 2011 compared to 2010. In 2009, its first year of sales, Jonway Automobile experienced sales of 4,000 SUVs, which rose to over 7,000 in 2010, each with a sales price of around US$11,000. ZAP Jonway is currently adding to its manufacturing production lines to deliver the A380 EV SUV by the anticipated date of June 2011 and ZAP’s ALIAS EV roadster by September 2011.

“Jonway Automobile’s revenues from selling its gasoline vehicles will help build the foundation for ZAP Jonway’s growth in the electric vehicle market, allowing ZAP to focus on further strengthening its EV technology, reinforced by Jonway’s manufacturing production expertise and ready market access to China,” said Dr. Priscilla Lu, founder and general partner of Cathaya Capital, a Cross Border Fund focused on China. Dr. Lu has served as Chairman of the Board for ZAP since September 2009. Cathaya Capital has invested US$36 million in ZAP since September 2009 with the goal of completing this 51 percent acquisition of Jonway Automobile.

Jonway Automobile is ISO 9000 certified with over 3.6 million square feet of fully provisioned factory space on 141 acres of land.

This press release contains forward-looking statements. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of ZAP’s products, increased levels of competition, new products and technological changes, ZAP’s dependence upon third-party suppliers, intellectual property rights and other risks detailed from time to time in the ZAP’s periodic reports filed with the Securities and Exchange Commission.

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