Coverage terminated for two companies
Coverage for two companies has been suspend due to the lack of public markets for their shares.
February 22nd, 2008 EPOD International “reorganized” and began doing business as EPOD Solar Inc. (“EPOD Solar”), a company incorporated under the laws of British Columbia. Following the Reorganization, EPOD Solar became a widely held private company and the shares in EPOD International were de-listed from the Pink Sheets. ( www.epodinc.com )
Millennium Cell Inc. (Nasdaq:MCEL) was pursuing a PEM based “better battery” strategy but apparently succumbed to losses prior to gaining market traction.
On May 12, 2008 the Company announced today that its Board of Directors has terminated the employment of all executive officers and employees of the Company effective as of the close of business on Friday, May 9, and has ceased operations. The press release also noted that the Executive Committee of the Board of Directors and certain members of senior management who are serving on a voluntary basis are engaged in discussions with a corporation that has expressed interest in entering into a reverse merger transaction with the Company, which would provide short term liquidity to the Company pending completion. That transaction will require, among other things, that the Company’s common stock remain listed on the NASDAQ and that the Company restructure its existing convertible debentures in a principal amount of approximately $4.1 million after recent conversions.
On May 27th NASDAQ delisted the Company.