Boston, MA 03/28/2014 (wallstreetpr) – WELL POWER INC (OTCBB:WPWR) announced that it was able to deliver licensing fee for to licensor ME Resource Corp for its licensed Micro-Refinery Unit (MRU). That encouraging report continued to have its positive impact on the shares of the company which shot up more than 21 percent in the previous session. The company reported that it paid $100,000 as per the Licensing Agreement terms with ME Resource Corp, and stated that further fees will be made towards the same in due course. Securing technology licensing will help the company to attain full-scale development and of its Micro-Refinery Unit pilot project. According to the company president Dan Patience, they are keen on meeting their Licensing Agreement terms, and beyond that, they hope that the technology they are developing will have widespread solution to the oil and gas industry and everyone else. In order to get things right from the onset, besides committing to fully-paid license, WELL POWER INC (OTCBB:WPWR) is also pursuing partnerships in the oil and gas industry for opportunities towards the implementation of the pilot project.
Global Geophysical Services, Inc. (OTCMKTS:GEGSQ) which recently said its debts were weighing heavy on its finances and thus filed for bankruptcy, said that its foreign businesses would not be impacted by the filing. The company filed for Chapter 11 due to its overwhelming debts. The CEO Richard White, in a statement, said that the debts in question were incurred over the past number of years. While the company is being bogged down by debts, it had just started getting strong orders as the demand for its seismic data services increased. With oil and gas companies upping their spending and efforts to explore in difficult and remote areas, requirement for earth’s subsurface data is on the rise. The data helps in identify structures bearing oil and gas, and more importantly, help with safe mining activities.
VUZIX CORP CMN STK (OTCBB:VUZI) jumped significantly in the previous session despite lack of any company-specific news. Thus, suggesting that speculations continue to drive investor interest in the stock. Thursday session concluded with shares at $3.43, up 14.33 percent, on above average volume.
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