FISH21049
11 years ago
Pepco Shareholder Alert: Former SEC Attorney Willie Briscoe and Powers Taylor LLP Investigate Acquisition by Exelon Corp
10:57a ET April 30, 2014 (Business Wire) Print
Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor LLP are investigating potential claims against the Board of Directors of Pepco Holdings Inc. ("Pepco") (NYSE: POM) related to the acquisition by Exelon Corp for shareholders. Under the terms of the transaction, valued at approximately $6.83 billion, Pepco shareholders will only receive $27.25 in cash for each share owned.
If you are an affected investor, and you want to learn more about the lawsuit or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com, or Patrick Powers at Powers Taylor LLP, toll free (877) 728-9607, via e-mail at shareholder@powerstaylor.com. There is no cost or fee to you.
The Pepco investigation centers on whether Pepco's Board of Directors is acting in the shareholders' best interests, whether the board is properly considering the proposed price for the shareholders, and whether the board has employed an adequate process to review and act on the proposed transaction.
The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Powers Taylor LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.
http://cts.businesswire.com/ct/CT?id=bwnews&sty=20140430006201r1&sid=cmtx6&distro=nx
SOURCE: Powers Taylor LLP
The Briscoe Law Firm, PLLC
Willie Briscoe, 214-239-4568
WBriscoe@TheBriscoeLawFirm.com
or
Powers Taylor LLP
Patrick Powers, 877-728-9607
shareholder@powerstaylor.com
FISH21049
11 years ago
Exelon to Buy Pepco in All-Cash Deal -- 2nd Update
7:33a ET April 30, 2014 (Dow Jones) Print
Exelon to Buy Pepco in All-Cash Deal -- 2nd Update
By Michael Calia
Exelon Corp. agreed to buy rival electricity and gas utility company Pepco Holdings Inc. in an all-cash deal worth about $6.8 billion.
The per-share price of $27.25 a share represents a 20% premium over Pepco's closing price Tuesday of $22.79.
The deal would create a mid-Atlantic utility serving about 10 million customers from D.C. up to Philadelphia and southern New Jersey, with a rate base of about $26 billion.
Exelon said it expects the deal to add significantly to its adjusted earnings in the first full year after it closes. The companies said they expect the acquisition to close in the second or third quarter of 2015. TOO BAD THEY CAN'T CLOSE THE DEAL THIS YEAR!
Pepco shares, up 19% so far this year through Tuesday's close, rose 17% to $26.76 in premarket trading, while Exelon, up 32% this year, was inactive.
Exelon is financing the deal through a $7.2 billion bridge facility with Barclays and Goldman Sachs, with the permanent financing plan to include equity issuance, long-term debt and corporate cash.
Exelon Chief Executive Chris Crane will lead the combined company. Joseph M. Rigby, who had previously announced his retirement, will stay on as CEO of Pepco until the deal closes.
Also Wednesday, Exelon said it swung to a first-quarter profit, as adjusted earnings missed expectations and revenue easily topped views.
The company posted a profit of $90 million, or 10 cents a share, compared with a loss of $4 million, or a penny a share, a year earlier. Excluding the impact of hedging activities and other items, adjusted per-share earnings fell to 62 cents from 70 cents.
Revenue improved 19% to $7.24 billion.
Analysts polled by Thomson Reuters forecast per-share earnings of 69 cents and revenue of $6.31 billion.
Shares of both companies were inactive in premarket trading. Pepco shares were up 19% so far this year at $22.79 through Tuesday's close, while Exelon, which closed at $36.18 Tuesday, is up 32% so far this year.
Write to Michael Calia at michael.calia@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
April 30, 2014 07:33 ET (11:33 GMT)
Copyright (c) 2014 Dow Jones & Company, Inc.DN201404300083762014-04-30 11:33:00.0005VOL23TVLK1NF6RMIHVIJ7E0P2DJNF
EarlyOne
11 years ago
Blacklight announces sustained production of enormous electrical power from water
BlackLight Power, Inc. today announces that it achieved sustained electricity production from a primary new energy source by using photovoltaic technology to transform brilliant plasma, with power comprising millions of watts of light, directly into electricity.
Screen shot from Generator video on Blacklight Power's website.
http://pesn.com/2014/04/04/9602466_BlacklightAnnounces_Sustained-Production_of_Enormous-Electrical-Power-from--Water/
by Sterling D. Allan
Pure Energy Systems News
Regarding Blacklight Power, on January 20, we published an interview I had with Randy:
Randell Mills explains upcoming Blacklight Power demo - The proposed 10 MW device that would be 1 ft2, would entail a 60-toothed gear spinning at 200 rpm, making the water chamber size a few micro liters, lasting a millisecond, during which two electrodes would create a supersonic-expanding plasma that goes into a magnetohydrodyamic converter, then directly into electricity, cleanly, safely... (PESN; January 20, 2014)
Then, on March 6, we published a story announcing:
Blacklight achieves semi-continuous plasma power production - On March 2, Blacklight uploaded three videos showing brief, continuous runs of their multi-toothed gears, inside which the plasma reaction takes place. A few micro liters of water are hit with two electrodes to create a supersonic-expanding plasma. (PESN; , 2014)
Yesterday, they issued a press release announcing:
BlackLight Power, Inc. Announces Sustained Production of Electricity Using Photovoltaic Conversion of the Millions of Watts of Brilliant Plasma Formed by the Reaction of Water to a More Stable Form of Hydrogen
CRANBURY, N.J.--(BUSINESS WIRE)--BlackLight Power, Inc. today announces that it achieved sustained electricity production from a primary new energy source by using photovoltaic technology to transform brilliant plasma, with power comprising millions of watts of light, directly into electricity. By applying a very high current through its proprietary water-based solid fuel in BlackLight Power’s breakthrough Solid Fuel-Catalyst-Induced-Hydrino-Transition (SF-CIHT) technology, water ignites into brilliant plasma, an extraordinary bright flash of extraordinary optical power that has a power density of over 1,000,000 times that of any prior controllable reaction. Remarkably, the light emitted from the plasma is nearly a perfect spectral equivalent of the Sun, but at 50,000 times the intensity. BlackLight Power has now successfully converted the brilliant plasma directly into electricity using photovoltaic cells (solar cells) which have been increasingly perfected to convert the Sun spectrum into electricity for more than five decades costing an estimated $1 trillion.
Using a proprietary water-based solid fuel confined between opposing roller electrodes of a SF-CIHT cell, and applying a current of 12,000 amps through the fuel, water ignites into an extraordinary bright flash of optical power. The fuel was sequentially fed into the electrodes to produce pulses of millions of watts of power in a volume that is one ten thousandths of a liter corresponding to a power density of over an astonishing 100 billion watts per liter. As a comparison, the electrical output power of a central power generation plant is typically 1 billion watts from a boiler 100 million times larger. The H2O-based fuel ignition produced brilliant plasma, an essentially fully ionized gaseous physical state of the fuel comprising essentially positive ions and free electrons. From a spectroscopic signature called a blackbody curve, the SF-CIHT cell plasma was determined to have the same temperature as the Sun emitting the same solar spectrum of light, but at extraordinary power equivalent to 50,000 times the Sun’s intensity at the Earth’s surface. Optical power was converted directly into electricity using photovoltaic cells (solar cells). Simply replacing the consumed H2O regenerated the fuel, and the fuel can be continuously fed into the electrodes to continuously output optical power that can be converted into electricity.
Our safe, non-polluting power-producing system catalytically converts the hydrogen of the H2O-based solid fuel into a non-polluting product, lower-energy state hydrogen called “Hydrino,” by allowing the electrons to fall to smaller radii around the nucleus. The energy release is 200 times that of burning the equivalent amount of hydrogen with oxygen. Due to this extraordinary energy release, H2O can serve as the source of hydrogen fuel to form hydrinos and oxygen. Based on a spectroscopic technique called Stark line broadening, the power was determined to be in the form of fully ionized brilliant plasma, a gaseous brilliantly glowing ionized physical state of the fuel comprising essentially positive ions and free electrons. The plasma particles recombine to emit light that can be converted directly to electricity using commercially available, mass-produced photovoltaic or solar cells. Very high-power, high efficiency cells are commercially available to convert the SF-CIHT cell optical power directly into electric at its 100 billion watts per liter power density.
Using readily-available components, BlackLight has developed a system engineering design of an electric generator that is closed, except for the addition of H2O fuel, and generates ten million watts of electricity, enough to power ten thousand homes. Remarkably, the device is less than a cubic foot in volume. The SF-CIHT cell uses cheap, abundant, nontoxic, commodity chemicals, with no apparent long-term supply issues that might preclude commercial, high volume manufacturing. Moreover, the power converter is mass-produced for the solar power industry. The SF-CIHT cell power is in the form of light that has the same spectral composition as sunlight. With the discovery of the photovoltaic effect by Becquerel in 1839 and the invention of the first modern solar cell by Bell Labs, an era of cheap clean energy from the Sun was envisioned for mankind. Realization of that vision is enabled by the invention of the SF-CIHT cell that overcomes the impediment of the very low power density of sunlight. With advances since its inception, solar cells have demonstrated the capacity to convert light into electricity at tens of thousands of times higher power levels than sunlight at much higher efficiency at high versus low light intensity. At 50,000 times brighter than sunlight, the corresponding reduction in the area of the photovoltaic converter gives rise to a projected cost of the SF-CIHT cell of about $25/kW compared to over one hundred times that for conventional power sources of electricity.
Applications and markets for the SF-CIHT cell extend across the global power spectrum, including thermal, stationary electrical power, motive, and defense. Given the independence from existing infrastructure, grid in the case of electricity and fuels in the case of motive power, the SF-CIHT power source is a further game changer for all forms of transportation: automobile, freight trucks, rail, marine, aviation, and aerospace in that the power density is one million times that of the engine of a Formula One racer, and ten million times that of a jet engine. The energy release of H2O fuel, freely available in the humidity in the air, is one hundred times that of an equivalent amount of high-octane gasoline. This technology is enabling of a conventional-sized and powered car to travel 3000 miles on a liter of water without producing pollution.
To protect its innovations and inventions, multiple worldwide patent applications have been filed on BlackLight’s proprietary technology. The disclosure of one of BlackLight’s patent applications that was recently-filed worldwide, its 10 MW electric SF-CIHT cell system engineering design and simulation, an automotive application simulation, high-speed video of millions of watts of SF-CIHT cell plasma, and a video of the pulsed production of millions of watts of light with photovoltaic conversion into electricity are publicly available on BlackLight’s webpage (http://www.blacklightpower.com/).
About BlackLight Power
BlackLight Power, Inc. is the inventor of a new primary energy source applicable to essentially all power applications such as thermal, electrical, automotive, trucking, rail, marine, aviation, aerospace, and defense. The BlackLight Process, the power source, is the process of releasing the latent energy of the hydrogen atom by forming Hydrinos. The SF-CIHT cell was invented by Dr. Mills to release this energy directly as electricity from water as the only source of fuel.
For more information, please visit http://www.blacklightpower.com/
Glossary:
BlackLight Process: A novel chemical process invented by Dr. Mills causing the latent energy stored in the hydrogen atom to be released as a new primary energy source.
Hydrino: Hydrinos are a new form of hydrogen theoretically predicted by Dr. Mills and produced and characterized by BlackLight. Hydrinos are produced during the BlackLight Process as energy is released from the hydrogen atom as the electron transitions to a lower-energy state resulting in a smaller radius hydrogen atom. The identity of the dark matter of the universe as Hydrinos is supported by BlackLight’s spectroscopic and analytical results as well as astrophysical observations.
SF-CIHT Cell: Each SF-CIHT cell comprises two electrodes that confine a highly electrically conducive H2O-based solid fuel that serves as a source of reactants to form Hydrinos. A low-voltage, very high current (about one thousand times that of household currents) ignites the water to form hydrinos and cause a burst of brilliant-light-emitting plasma power of millions of watts that can be directly converted to electricity using proven photovoltaic cells that are commercially available for converting light to electric power.
Photovoltaic or Solar Cell: Each cell comprises a flat panel of a semiconductor material that exhibits the photovoltaic effect, a method of generating electrical power by converting radiation such as solar radiation into direct current electricity. Light absorption in the semiconductor material creates energized charge carriers of opposite polarity that are collected at corresponding negative and positive electrode contacts on opposite sides of the flat panel to create a voltage that can deliver power to an external load.
Three days ago, they posted a new video on their website: http://www.blacklightpower.com/pv_car-video/
Blacklight Power PV from Blacklight Power on Vimeo.
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