Covol Technologies Inc.'s Update On Current Negotiations.LEHI, Utah--(BUSINESS WIRE)--Nov. 22, 1999-- Covol Technologies Inc., (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CVOL CVOL Control Volume ), Monday announced that it is continuing negotiations with multiple parties for the sale of its company owned facilities. Covol owns three synthetic fuel Synthetic fuel or synfuel is any liquid fuel obtained from coal, natural gas, or biomass. It can sometimes refer to fuels derived from other solids such as oil shale, tar sand, waste plastics, or from the fermentation of biomatter. facilities, one in Utah and two in West Virginia West Virginia, E central state of the United States. It is bordered by Pennsylvania and Maryland (N), Virginia (E and S), and Kentucky and, across the Ohio R., Ohio (W). Facts and Figures Area, 24,181 sq mi (62,629 sq km). Pop. and has previously announced that the properties are for sale. "While these transactions always take longer than everyone's expectations, we are pleased at the progress currently being made in the negotiations," said Kirk A. Benson, chairman of the board and chief executive officer. To date, after significant due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. activities regarding the synthetic fuel facilities held for sale, no material issues were identified that would frustrate Covol's ability to complete a sale. Covol continues to believe that the sale of its remaining facilities should enable it to retire all of the debt incurred in the construction of these facilities. Covol is a technology company which engineers industrial waste and other by-products into value-added fuels and resources. Statements in this news release that relate to future plans, possible transactions, or projected valuations are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including any statement with respect to anticipated products to be produced using Covol's technology and Covol's strategy. Such statements are subject to risks and uncertainties that could cause actual results to differ materially. There are a number of businesses factoring which singularly or combined may affect Covol's future operating results. In addition to matters affecting Covol's industry or the coal industry or the economy generally, factors which could cause actual results to differ from expectations set forth in above identified forward-looking statements include but are not limited to Covol's ability to successfully negotiate terms and consummate proposed transactions, ability to sell company-owned synthetic fuel facilities on favorable terms, ability to obtain necessary capital or financing, ability to comply with covenants in financing agreements Financing Agreements In the context of project financing, the documents which provide the project financing and sponsor support for the project as defined in the project contracts. , including financial performance criteria, ability to conserve capital through cost reductions until operating revenues exceed expenses, ability of licensees to market synthetic fuel produced, generating royalties for Covol, ability of licensees to achieve expected production levels at the synthetic fuel facilities, favorable IRS An abbreviation for the Internal Revenue Service, a federal agency charged with the responsibility of administering and enforcing internal revenue laws. tax treatment, availability of natural resources and suitable raw materials, ability to locate appropriate sites for facilities, ability of Covol to complete specific research and development projects, market penetration Noun 1. market penetration - the extent to which a product is recognized and bought by customers in a particular market penetration - the act of entering into or through something; "the penetration of upper management by women" from competing technologies and the commercial viability of technologies. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion