Key Developments: Clean Coal Technologies Inc (CCTC.PK)
0.04USD
17 May 2013
$-0.00 (-3.53%)
$0.04
$0.04
$0.04
$0.04
415,925
632,375
$0.08
$0.04
Latest Key Developments (Source: Significant Developments)
Clean Coal Technologies Inc Moves to Dissolve Good Coal Joint Venture
Clean Coal Technologies Inc announced it has sent a notice of default and termination to AGPL Investments Pte. Ltd. (AGPL) pursuant to the default and termination provisions of the September 21, 2012 EPC Payment Agreement, the Heads of Terms Agreement dated effective March 13, 2012 and the Joint Venture Agreement in Respect of Good Coal, Pte. Ltd (JV) effective June 5, 2012, including the Exclusive Technology License Agreement incorporated therein. Under the default terms of the above, the Company is also seeking the immediate dissolution of the Good Coal joint venture. At this time, the Company is working to ensure that there is no disruption in the Oklahoma pilot plant construction schedule. The Company intends to assume the obligations for the project under a new construction contract and expects to own the completed pilot plant outright. The Company will use the funds already received from Ventrillion Management Company Ltd to ensure timely completion of the project. Full Article
Clean Coal Technologies Inc Announces Execution Of Definitive Agreement For Private Placement
Clean Coal Technologies Inc announced the execution of a definitive agreement for the private placement of up to 300 million common shares of Clean Coal to Singapore-based Ventrillion Management Company Ltd. ("Ventrillion") for up to $15 million. On December 6, 2012, Clean Coal closed the first-tranche of the investment and issued 100 million common shares to Ventrillion in exchange for $4 million, resulting in net proceeds to Clean Coal, after deducting commissions and estimated offering expenses, of approximately $3.5 million. Clean Coal intends to use the proceeds of the investment for general corporate purposes and working capital, including completing its pilot plant and commercialization of its technology. The closing of the second and third tranches of the investment, set to close within 6 months and 12 months of the agreement, respectively, are subject to certain conditions, including shareholder approval of a reverse split of Clean Coal`s common shares, completion of Clean Coal`s pilot plant and commercialization of Clean Coal`s technology. Full Article
Earnings vs. 
Estimates
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.
