Kerry Pianoforte03.08.11
New Energy Technologies, Inc. announced that the company is undertaking important strategic corporate initiatives primarily designed to improve its capital markets appeal to both retail and institutional investors.
The announcement follows important additions to the company's management and advisory teams, and the recent unveiling of New Energy's largest-ever, one-foot by one-foot working SolarWindow prototype, capable of generating electricity on see-thru glass.
"The capital markets plan announced today follows our development strategy, which has thus far significantly advanced our SolarWindow and MotionPower technologies, bolstered our management team, and achieved important capital raises for the company," said John Conklin, president and CEO of New Energy Technologies, Inc.
"With our technologies, we have successfully leaped forward, from early bench research to product prototyping, and towards commercialization. Likewise, we have bolstered our management and advisory teams to garner the support of some of the world's most respected solar energy scientists, and energy harvesting engineers. Now, it is time to execute a sound corporate strategy to best position New Energy and our technologies for future growth."
Among important corporate strategies announced, the company plans to commence efforts to enhance corporate visibility, improve liquidity, strengthen its ability to raise additional capital when needed and undertake corporate acquisitions, if warranted.
New Energy also announced that in support of the company's initiatives, its stockholders approved, by way of written consent a one-for-three reverse stock-split of the company's shares. to take effect on March 16, 2011. The stockholders also approved an increase in the number of authorized common shares from 100,000,000 to 300,000,000.
"We are very pleased with the support stockholders have given to management's initiatives for making the company more attractive to the capital markets, and we hope, eventually more valuable for our shareholders," Conklin said.
The announcement follows important additions to the company's management and advisory teams, and the recent unveiling of New Energy's largest-ever, one-foot by one-foot working SolarWindow prototype, capable of generating electricity on see-thru glass.
"The capital markets plan announced today follows our development strategy, which has thus far significantly advanced our SolarWindow and MotionPower technologies, bolstered our management team, and achieved important capital raises for the company," said John Conklin, president and CEO of New Energy Technologies, Inc.
"With our technologies, we have successfully leaped forward, from early bench research to product prototyping, and towards commercialization. Likewise, we have bolstered our management and advisory teams to garner the support of some of the world's most respected solar energy scientists, and energy harvesting engineers. Now, it is time to execute a sound corporate strategy to best position New Energy and our technologies for future growth."
Among important corporate strategies announced, the company plans to commence efforts to enhance corporate visibility, improve liquidity, strengthen its ability to raise additional capital when needed and undertake corporate acquisitions, if warranted.
New Energy also announced that in support of the company's initiatives, its stockholders approved, by way of written consent a one-for-three reverse stock-split of the company's shares. to take effect on March 16, 2011. The stockholders also approved an increase in the number of authorized common shares from 100,000,000 to 300,000,000.
"We are very pleased with the support stockholders have given to management's initiatives for making the company more attractive to the capital markets, and we hope, eventually more valuable for our shareholders," Conklin said.