Polyfuel Share Discussion Threads

[callumross] 08/9/2010 19:00

For all holders, I emailed the CEO re the possibility of a further distribution, as alluded to in the initial distribution letter, and received the following reply:

"The present expectation is a similar distribution will be made in Q1 2011. The situation is that certain contracts are contingent, and as such, the company can not be fully liquidated until the end outcome of those contracts is factually known. However, no assurance can be provided that any distribution will be made, that is, it could be zero."

[argyle underclap] 03/4/2010 03:17

Market leader? Seemed an odds on no-brainer.

Where did it all go wrong?

[supernumerary] 16/3/2010 23:04

robson - I suggest you put a link to this thread. Reality is in very short supply on advfn boards, and this might provide a useful corrective. In fact an entire list of threads 'The ones that didn't make it' could usefully be added to the header of every thread...

As the old maps used to say 'Beware there be dragons here'

[robson1974] 16/3/2010 21:42

I have started a Fuel Cell Sector and Stock thread for comparing and contrasting the valuation of the various companies, please drop in...i have added some links to research in the header, if you have any other decent links please suggest on thread and I will add the good ones to the header

[asparks] 05/3/2010 09:53

for further details please contact:

Thomas P. Caldwell
CEO & CFO
PolyFuel, Inc.

Mobile: [phone]
email: [e-mail]

www.marinfinance.com

I suggest you use his mobile - but remember they are 5+ hours behind UK time, so dont wake him at 3am!!! ;-|

[argyle underclap] 04/3/2010 20:12

I all seemed so promising here.

Had i made on MDX, i would have had a dabble with this one. Fortunately, or UNfortunately i lost a packet. So no investment here.

Hope u guys get a decent slice of ur hard earned back

[supernumerary] 03/3/2010 16:35

Whoops - quite right, got my dollars and cents confused. Time to break out the Bolly then!

Sorry to hear about your holding. It was easy to get sucked in at the end - great product, great prospects, money from the US on the table, bargain share price - I still find it hard to understand why it went quite so badly wrong.

[callumross] 03/3/2010 16:04

No - 166 Cents! I have got 90000 shares, sadly, so even 0.83 cents is worth around £500 - better than nothing.

[supernumerary] 03/3/2010 13:52

asparks - thanks. So my 200 shares are worth approximately 1.6 cents. Ah well, I was only playing anyway.

I wonder what the purchase price was, and how much went in director's and professional service fees?

[callumross] 03/3/2010 13:24

Thanks for that information, asparks. But I have not received any payment from the company. How do I go about claiming it, as my shares are not certificated. They are in TD Waterhouse nominee account. Is that 8.3 cents per share or 0.83 cents per share?
Kind Regards
Callum

[asparks] 03/3/2010 13:17

Dear Shareholder:
PolyFuel has completed the principal requirements to effect the liquidation of its assets
and dissolution of the Company. PolyFuel's Board pursued multiple avenues over the
past 18 months in efforts to garner the greatest value for shareholders, balancing further
technology development which might secure investment with the objective of also
preserving value. Unfortunately, with the onslaught of the recession possibly otherwise
interested parties withdrew their investment interest. PolyFuel also approached, through
its investment banker, over 100 entities world-wide seeking the sale of the company and
its assets. Market conditions, the state of the DMFC industry and the requirement of
further capital, beyond recent Department of Energy awards, limited the pool of parties
showing interest in continuing the Research & Development still needed to bring
PolyFuel's technology to the commercialization stage. PolyFuel sought to develop
auction conditions for this effort and was successful in bringing a new buyer to the table,
increasing the previous offer made by a substantial premium. Nonetheless, the purchase
price was still modest, given the state of the economy and industry.
Enclosed is an initial distribution in the amount of US$0.0083994/share. A further
distribution may be made within 6-12 months upon the resolution of certain existing
contractual matters and final resolution of the Company's existing and potential
liabilities.
Best regards,
Thomas Caldwell
CEO & CFO
PolyFuel,

[asparks] 03/3/2010 13:16

Dear Shareholder:
PolyFuel has completed the principal requirements to effect the liquidation of its assets
and dissolution of the Company. PolyFuel's Board pursued multiple avenues over the
past 18 months in efforts to garner the greatest value for shareholders, balancing further
technology development which might secure investment with the objective of also
preserving value. Unfortunately, with the onslaught of the recession possibly otherwise
interested parties withdrew their investment interest. PolyFuel also approached, through
its investment banker, over 100 entities world-wide seeking the sale of the company and
its assets. Market conditions, the state of the DMFC industry and the requirement of
further capital, beyond recent Department of Energy awards, limited the pool of parties
showing interest in continuing the Research & Development still needed to bring
PolyFuel's technology to the commercialization stage. PolyFuel sought to develop
auction conditions for this effort and was successful in bringing a new buyer to the table,
increasing the previous offer made by a substantial premium. Nonetheless, the purchase
price was still modest, given the state of the economy and industry.
Enclosed is an initial distribution in the amount of US$0.0083994/share. A further
distribution may be made within 6-12 months upon the resolution of certain existing
contractual matters and final resolution of the Company's existing and potential
liabilities.
Best regards,
Thomas Caldwell
CEO & CFO
PolyFuel,

[supernumerary] 14/12/2009 14:09

asparks - anything to report?

[callumross] 16/11/2009 19:13

yes, would be grateful for any feedback, asparks - even a 2p per share payment would be a couple of grand back for me, although I have written the investment down to nothing in my mind. Just as well that the rest of my portfolio has had a good year!

[supernumerary] 16/11/2009 17:03

no worries - let us know if you get anything interesting out of him

[supernumerary] 16/11/2009 16:12

asparks - see recent news

Enquiries:
Tom Caldwell - Chief Executive Officer, Chief Financial Officer and Secretary
[phone]
[e-mail]

[asparks] 16/11/2009 14:31

does anyone have an email address for TC? I'd like to contact him. TIA

[supernumerary] 13/11/2009 23:55

callum - I don't have enough invested here to care, but as I understand it the shareholders voted in September in favour of dissolution. Without some very fine hair-splitting, I don't know the difference between dissolution and 'being wound up in an orderly manner' and liquidation.

What it all amounts to is that Thomas Caldwell was appointed to put an end to the thing, and he should have made progress by now. If he hasn't found a buyer yet in my opinion he's not going to - the asset is deteriorating in value all the time, and the potential buyers know that the longer they leave it the stronger their bargaining position.

TC is the liquidator in all but name, and if shareholders have any queries I would suggest they get in touch with him to find out what's happening. At the moment every penny he spends, including his own salary, is coming out of their pockets.

So if he hasn't already done so and neglected to tell the shareholders, he should appoint a formal liquidator and let the process move on.

[callumross] 13/11/2009 22:58

but, there is no liquidator - the company is not being liquidated - it is being wound up in an orderly manner, or alternatively being sold outright if a buyer has been found.

[supernumerary] 13/11/2009 18:49

asparks - have you contacted the liquidator? That's usually the best/only way to get information at this stage.

[asparks] 13/11/2009 16:28

when do we get our dosh?

[asparks] 09/11/2009 10:23

any idea what is going on?

[asparks] 09/9/2009 16:32

why that long?