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The company states in the 10-K filing that it does not expect to require additional funding through December 2024.
Mar 21, 2024, 10-K Filing
Item 1A. Risk Factors
Page 16
“We will need significant additional capital, which we may be unable to obtain.
Our capital requirements in connection with our development activities and commercial operations have been and will continue to be significant. As the date of this filing, we do not expect to require additional funding through December 2024 to continue research, development and testing of our technologies, to obtain intellectual property protection relating to our technologies when appropriate, and to improve and market our technologies. However, there can be no assurances that we will not need additional funding in the future or that our current cash position will be sufficient to fund any future plans to accelerate our commercialization efforts. In the event additional funding is necessary, there can be no assurance that financing will be available in amounts or on terms acceptable to us, if at all.”
Page 18
“Risks Relating to Our Current Financing Arrangements:
There are a large number of shares underlying our convertible debt and warrants that may be available for future sale and the sale of these shares may depress the market price of our common stock.
As of March 21, 2024, we had 301,368,572 shares of common stock issued and outstanding and convertible debt outstanding that may be converted into an estimated 45,155,537 shares of common stock and outstanding pre-funded warrants to purchase 13,779,000 shares of common stock at an exercise price of $0.0001. We also have outstanding warrants issued to purchase 2,814,000 shares of common stock at an exercise price of $0.052, outstanding warrants issued to purchase 82,500,000 shares of common stock at an exercise price of $0.08, and outstanding warrants issued to purchase 6,000,000 shares of common stock at an exercise price of $0.010. The sale of the shares underlying the convertible debt and warrants may adversely affect the market price of our common stock.
As of March 21, 2024, we have 1,198,631,428 unissued authorized shares available.”
Page 19
“We could issue additional common stock, which might dilute the book value of our common stock.
Our Board of Directors has authority, without action or vote of our shareholders, to issue all or a part of our authorized but unissued shares. Such stock issuances could be made at a price that reflects a discount or a premium from the then-current trading price of our common stock. In addition, in order to raise capital, we may need to issue securities that are convertible into or exchangeable for a significant amount of our common stock. These issuances would dilute the percentage ownership interest, which would have the effect of reducing your influence on matters on which our shareholders vote and might dilute the book value of our common stock. You may incur additional dilution if holders of stock options, whether currently outstanding or subsequently granted, exercise their options, or if warrant holders exercise their warrants to purchase shares of our common stock.”
Yeah the low prices are quite bargain basement. I’m buying more tomorrow.
The last three trading days were great. I was able to buy two to four times more shears per dollar than the previous week or two.
At half a penny, we can buy four times more shares per dollar now than we did a week or two ago with the same amount of money. A million shares $5000. 😊 2-3 weeks ago, a minimum of $20,000.
All this selling is happening without news, but I expect the merger's closing, which hopefully equals good news.
I think a lot of this selling is panic selling. Many people do not know how long this will take and don't know they are doing a financial audit, which can take 12 weeks. I noticed that Coretec did not mention it in the emails; they did not mention it on the investor call. The only place it was announced (where they spelled it out) a currently being audited was in an 8-K filing on March 20, 2024, and if they did not read the whole 8-K filing, they would not know. Because this is taking so long, people think this might not be going through.
I am not sure.
Armistice Capital Master Fund Ltd or Diversified Alpha Fund/Mollitium Investment Management may be exercising their pre-funded warrants. It also might be what Testpilot noted: the company needs money; they only had a little over half a million in cash at the end of 2023. We will find out if that is the case soon.
Total volume from 3/26 to current is 31 million
Probably need cash, some offering, or salary paid via shares dilution. It could easily be they need some cash to complete the merger. It's a complex process and attorney’s fees add up.Hopefully we have another filling soon.
Who can add shares? Can they just do it without telling us who and why? Is it possible we’ll find out next week merger is completed?
Apologies for the confusion, but looking further into this reverse acquisition, it appears that CRTG cannot issue the 705.5 million common shares until the merger is finalized. There's going to be a form S4 filing once its finalized.
Good question, here’s a link to the SEC pages about reverse mergers, which it appears is the case with Core Optics LLC and CRTG
“ .2 SEC reporting requirements before a reverse merger is completed
When an acquisition will be effected through the exchange of equity interests, the legal acquirer/issuer will usually register the shares of its stock to be issued in the reverse merger using Form S-4. If the transaction requires the approval of one or more groups of shareholders, then the Form S-4 will oftentimes be combined with a proxy statement prepared pursuant to Regulation 14A.”
https://viewpoint.pwc.com/dt/us/en/pwc/pwc_sec_volume/pwc_sec_volume_US/7000_mergers_and_acq_US/sec_7050_reverse_mer_US.html#pwc-topic.dita_0110041373457196
That makes sense. Does that mean the merger has been finalized, or can they issue before SEC approval?
Speculating the drop in SP is probably CRTG issuing the common shares exchange. It was like 705 million. Because of the low volume, they couldn't strategically issue shares at a higher price so it got dumped to .007
This video depicts a chart analysis of CRTG posted on Feb 25, 2024. Interesting in that 2 months later we are at the .007 range prediction in the video
Walrus,
Good find, thank you
SK Hynix 2023 article about the company developing an AI powered image sensor . Of course Core optics is a partner with SK Hynix and spoke to that in the call with Dr Kim who said they had developed a michine to test SK Hynix sensor modules .
https://www.thelec.net/news/articleView.html?idxno=4281
Armistice had warrants to purchase at .0002, so even at these prices they are still making money when they sell
Armastice wouldn't be selling below .015 would they?
I'm buying as much as I can. It's CHRISTMAS!
It had been Armistice in the past. Walrus has the latest metrics on them
Any idea who or what is driving the price down the last couple days? Looks like some pretty high volume today. Not sure who's continuing to sell unless it's panicked and impatience. Wish I had a better way for me to transfer money into my trading account so it would be in there today. I'd be happy to buy in a little bit more at this price.
Who are the Top Companies in the Global Time-of-Flight (TOF) Sensor Market? https://www.globenewswire.com/en/news-release/2023/08/11/2723614/0/en/Time-of-Flight-TOF-Sensor-Market-Revenues-to-Reach-USD-8-36-billion-by-2028-Market-Size-Share-Forecasts-Trends-Analysis-Report-by-Mordor-Intelligence.html
The market is highly fragmented and competitive. The brand identity associated with established companies, like Sony Corporation and STMicroelectronics NV, has a major influence in this market. Strong brands are synonymous with good performance, giving an upper hand to the long-standing. Furthermore, these major players are investing significantly in market expansion.
The significant players in the global TOF sensor market are,
Texas Instruments Incorporated
STMicroelectronics NV
Infineon Technologies AG
Panasonic Corporation
Sony Corporation
Teledyne Technologies International Corp.
Keyence Corporation
Sharp Corporation
Omron Corporation
Invensense Inc. (TDK Corporation)
Sony and Texas Instruments both partners with Core Optics revenue i believe will be excellent and product purchase orders and revenue info is highly anticipated after close of the merger. I would think they will redo the web site to merge the 2 into a new one Very Excited about the future for the new company ..So much going on with Core Optics now as they have done very well at expanding their business its looks form the shareholder call .
Pegs1,
I think what matters most right now is that CRTG has a pending merger with a revenue producing company. The deadline for the completing
the merger is June 30th. I believe there's a good possibility the merger will be finished prior to deadline. The pps really doesn't matter right now.
Once we see the financials that Core Optics brings to the table, we will most likely no longer be trading in the pennies for long. I base this on the
fact that isMedia showed earnings of $50 Million USD in 2019 from their CCM business. Core Optics LLC showed via the slides in the Shareholder
Call that they shifted 78% of their business to CCM, which is now going to be a $68.5 Billion market by 2028
https://www.marketsandmarkets.com/Market-Reports/camera-module-market-134910924.html
My thoughts are that maybe it doesn’t matter what the price is now, whether half a cent or three cents. Following the completion of the merger the price is going to find a new home based on the facts that are made public. Stats like gross sales, operating income, and the share structure will work to set a valuation on the company that isn’t dependent on the share price ahead of the closure of the deal. Agree or disagree???
Test pilot 🧑✈️ and Quick Shift
Do u feel that the share price will go sub-penny before the merger announcement? We need a time line as to completion of the battery testing for Endurion Anode. Hopefully soon………
twa,
Here’s a link to help you catch up to what’s going on with CRTG. Highly recommend you check out the latest shareholder call. You can watch the video and follow along with the transcript.
https://investors.thecoretecgroup.com/events
Though the Company wants to succeed, Investors are treading in dangerous waters as there are more uncertainties in the Penny market than just about anywhere else?? Also with AI leading the way for many Co's, who knows who will advance the farthest and with what products? It is just that events are happening rapidly and we don't know enough to make good Investment decisions!
As to the words that come-out-of senior officials mouths might show movement of some sort, the future might be in just as perilous a position as Investors were in years ago, as only the positives are shown, and their importance may not be studied well enough to warrant excitement? As to the present day value, there is none as products are not even in usable existence yet, let alone being marketed commercially!
But hold tight, that is what the Penny field is all about! Something the guys & Gals are doing might make some sort of splash one of these days as their WILL and DETERMINATION cannot be questioned! They are eager and truly believe in what they are doing! But in this fast paced economy, "TIME" is of most importance! Whether the Biggies at the top fully recognize that factor, who knows, but they are bucking a strong trend that bugs all Penny Owners and Investors! New products require a lot of time testing, then integrating them into their system, which may take from 5-10 years & bundles of cash? No Company will consider adopting new products unless they have the means to produce them in short order as well! Money to do all those things is absolutely essential!!! I wish you well! We'll see what surfaces at the end of 2024 or 2025! GLTA...
I share your sentiment. I remember previous podcasts and a shareholder call where he paused and appeared to be, processing in his mind, not to say too much.
Finally got a chance to listen to this podcast. Couple observations I took from this:
1. He's a little hard to listen to as he talks very choppy with a lot of uh... uh...
2. As difficult as it is to listen when he's talking as noted above, I actually think some of that is him working through in his head what he can and cannot say as to not give away news or proprietary information and things happening within the company. I felt a lot of that was strategic pauses and thinking to not say too much.
3. If Endurian or any of crtg technology was a flop or not going anywhere I don't think they'd be doing as many podcasts, articles, journals, etc. as they have been doing this past year. I don't think you do these interviews with a technology that might be good someday as much as you do it with knowing you have a product that is about to come out and trying to get in front of as many people as possible without releasing too much information at non-strategic times that could affect the release or stock price, etc.
4. I am indifferent on evtol but if they are to the point where they are confident and able to be talking to these groups and journals and believe they have a product that can offer something to this industry, if they are able to compete in the evtol then they can probably compete anywhere as I believe the extreme weight requirements for these type of batteries are going to trump any other kind of battery technology for miscellaneous tools, vehicles, whatever it may be. If you can be competitive in a super lightweight battery it's always easier to move into the other less restrictive spaces I would assume.
I believe that while a merger/acquisition is in progress they are not required to
Shouldn't CRTG put out first quarter results based on their books without Core Optics inclusion?
Gary
Then they announced this on March 20th in the 8K filing
Exhibit 99.2
"Further, Core Optics' financial statements are currently being audited. The Company cannot publish financial information until the audit is complete and plans to do so when appropriate."
They should be providing first quarter earnings during the first week of May, anyone think that will include anything from Core Optics or be prepared by their people?
Gary
I guess that just about covered the company picnic.😉😁
He was about two years too early.
At the end of 2007, 3DIcon announced its first product, “Pixel Precision,” a companion software application to the DMD Discovery, a product line manufactured by Texas Instruments. If I remember correctly, their first revenue from this came in 2008, around $40 thousand for the year.
Announcing revenue is great, but how much revenue is even more important.
Martin Keating predicts REVENUE in 2006😄.
Quick Shift,
You are right in saying that investors received nothing from 3Dicon in acquisition of Coretec! We were left with nothing but an outrageous reverse split & dilution! But Victor Keating has benefited greatly in both Coretec & Core Optics! But hopefully investors can gain back part of losses. Hang in there everyone…….
Quick Shift,
You are right in saying that investors received nothing from 3Dicon in acquisition of Coretec! We were left with nothing but an outrageous reverse split & dilution! But Victor Keating has benefited greatly in both Coretec & Core Optics! But hopefully investors can gain back part of losses. Hang in there everyone…….
I believe that Tesla is finding true competition in the many new electrics on the market in addition to Musk shooting himself in the foot by openly expressing unpopular views that have nothing to do with his cars, solar, rockets, robots, etc. Look what happened in Dubai yesterday and try to deny climate change. If anything, we need to accelerate the acceptance of electric cars, solar, windpower, etc. The speed of climate change is faster than most experts had thought, I hope it can be slowed, it won't be stopped unless something radical happens to the planet.
I'm very much a senior, it won't affect me much, but my kids are a different matter, and by the next century I suspect that much coastal property will either be under water, or protected by man-made levees etc. I have a boat in Marina del Rey, I suspect the sea walls and all the pilings that secure the docks in place will need to be 5 to 10 feet taller if it's not to be abandoned to nature along with a lot of coastal property in California.
Gary
Liberal paper in an election year! It’ll be okay! EVs are here to stay! We just need a reliable EV and hopefully that’s CRTG!
LA Times reporting that the EV market is in trouble with Tesla’s layoffs! This is the last thing that Coretec/investors need to worry about right now. Coretec needs to pickup the pace & finish the battery testing…….
I found his presentation very interesting, perhaps others here knew about the growth of the media on charging, but this is the first I've heard about it. Does anyone know if space is created in the battery for this growth, or are they using some sort of compressible media within the battery.
The complexity in the design of batteries is nothing new. During WW2 a friend was a battery manufacturer. One day some Govt. Inspectors appeared to inspect his batteries, on watching them he could see they didn't know what they were doing, and he taught them how to properly inspect a battery. At that time tank batteries were failing badly, he was called in to determine what was wrong and helped determine what needed to be done to make them reliable again.
I find the idea of commercial electric aircraft in the near term to be amazing, I hope the companies that talk about it can actually deliver. I know at first they'll be short distant commuting aircraft, however with the sort of improvements that are being spoken about, I really wonder if in a decade or so transcontinental large electric airliners will be a possibility. If you can refuel most military aircraft in flight, I wonder if even that would be possible for recharging electric aircraft. I could also see the possibility of a small fuelled generator capable of providing sufficient emergency power to maintain the aircraft in slow flight while waiting to land.
Gary
Pretty early in the discussion Dr. Elgammal tells us what happened to CHS - it isn't price competitive. He goes on to say that the company, wanting to stay in the "silicon space" pivoted to development of battery anodes. This is probably about the time Kraft left. Elgammal also says he was contacted by the CEO at the time to perform due diligence on the portfolio of patents that Coretec acquired when they merged with Coretec Industries. It is a little disturbing to consider that the cost and dilution shareholders bore to acquire Coretec Industries gained us exactly nothing.
Copy of the 4-16 email message:
March was a very productive month for The Coretec Group (OTCQB: CRTG) as it announced a definitive share exchange agreement with Core Optics LLC. Company leadership expounded upon its details during a March 14 shareholder call and presentation (the full transcript and recording of which can be found here).
The chief takeaways from the call demonstrate the market opportunity ahead, as CFO/COO Matthew Hoffman provided updates and a future outlook of the Company’s Endurion battery program:
• Endurion boasts full coin cell batteries with strong stability, lasting over 500 cycles: an impressive cycle life benchmark that creates clear pathways for the technology to be applied to a number of customer markets. Core Optics’ existing relationships and customer base within these industries create opportunities for partnerships and commercial adoption.
• The Endurion team’s work has achieved new IP in the form of an advanced coating methodology that can extend beyond just battery applications, which will be a major asset in the future licensing of the technology as well as the overall value of the Company.
• Looking ahead to the rest of 2024, The Coretec Group aims to scale up its anode material synthesis capabilities to meet the demands of potential partners. Endurion’s latest progress positions it well for securing development funding, which Company leadership will pursue aggressively as it strives toward the larger goal of making the program a self-sustaining business unit. The Coretec Group’s relationship with Core Optics will also prove essential in the solidification of Endurion’s partnerships and financial goals for the remainder of the year.
The Company also contributed an article to POWER Magazine on the bright future of lithium-ion batteries through the use of silicon anode technology. The piece details the principal caveats hampering si-anode adoption and Coretec’s nanoparticle solution that could overcome them and bring about the next generation of high-efficiency EV batteries.
Lastly, Coretec CTO Ramez Elgammal will soon be featured on the eVTOL Insights podcast. Be sure to be on the lookout for updates regarding its release.
While it’s been an exciting month, the Coretec team still has plenty more, exciting work ahead of it in the weeks to come. Anyone interested in keeping pace with the Company’s news and updates in real-time is encouraged to follow along on its LinkedIn and X profiles.
I didn’t get an email either. Not certain that CRTG actually sent one out for the April 16 update.
My CRTG emails keep going to spam no matter how many times I say not spam? Any suggestions on how to keep that from happening? I've even added to my contacts list...because this I missed 16 Apr email.
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