Bio-Diesel als Zukunfts Sprit?! - 500 Beiträge pro Seite

[Pennystock777]

Press Release Source: Nova Energy Holding, Inc.


Nova Energy Announces Ex-Dividend Date for Three-for-Two Stock Split
Wednesday April 5, 12:08 pm ET


HOUSTON, TX--(MARKET WIRE)--Apr 5, 2006 -- Nova Energy Holding, Inc. (OTC BB:NVAO.OB - News) announced that the ex-dividend date for the previously announced three-for-two stock split (to be effected as a 50% stock dividend) has been determined by the Nasdaq Stock Market to be April 25, 2006. The three-for-two stock split is payable on April 24, 2006 to holders of record of the company's common stock as of the close of business on April 10, 2006. It is anticipated that on April 6, 2006 the stock will begin trading on the OTC Bulletin Board System with "due bills attached," which means that purchasers of shares of common stock on and after that date will be entitled to receive the additional shares payable as a result of the stock split on the "due bill redemption date," which is anticipated to be April 27, 2006. Fractional shares will be rounded upward to the nearest whole share.
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Ken Hern, Chairman and Chief Executive Officer for Nova, said "We believe this stock split will benefit our shareholders by increasing our public float and improving the liquidity of our common stock."

About Nova Energy Holding, Inc.

Nova Energy Holding, Inc., formerly known as Nova Oil, Inc., is an energy company that synthesizes and distributes renewable fuel products. Nova's initial focus will be to construct and operate several biodiesel refineries with production capacity of more than 300 million gallons of fuel on an annual basis. Within three years Nova intends to construct seven biodiesel refineries ranging from 20 to 50 million gallons per year. All seven refineries will utilize Nova's proprietary, patented process technology, which enables the use of a broader range of lower cost feedstocks.

Forward-Looking Statements

This news release contains forward-looking statements, including statements regarding the Company's plans, goals, strategies, intent, beliefs or current expectations. These statements are expressed in good faith and based upon a reasonable basis when made, but there can be no assurance that these expectations will be achieved or accomplished. Readers are urged to carefully review and consider the various risk factors disclosed by the Company in the Company's reports filed with the Securities and Exchange Commission, including the Company's Current Report on Form 8-K to be filed April 3, 2006, which describes the risks and factors that may affect the Company's business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, the Company's actual results may vary materially from those expected or projected in this release or in the Company's other filings.



Contact:
CONTACT:
Halliburton Investor Relations
Michelle Clark
[phone]

[Pennystock777]

Form 8-K for NOVA OIL INC


--------------------------------------------------------------------------------

6-Apr-2006

Entry into a Material Definitive Agreement



ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On March 31, 2006, Biosource America, Inc. ("Biosource"), a subsidiary of Nova Oil, Inc., entered into an agreement (the "Agreement") with Scott Petroleum Corporation ("Scott Petroleum") to design and build a 20 million gallon per year biodiesel production facility in Greenville, Mississippi at a cost of approximately $12,500,000. Under the terms of the Agreement, Biosource agreed to substantially complete the facility within one year of the date of the Agreement and Scott Petroleum made a $2 million deposit to Biosource. The parties also agreed in principle to enter into an agreement for Biosource to provide financing at a later date and to share equally in production generated by the facility.

[Pennystock777]

Press Release Source: Nova Energy Holding, Inc.


Nova Energy Announces Joint Venture With Scott Petroleum
Thursday April 6, 6:03 pm ET


$12.5 Million Site to Produce 20 Million Gallons of Biodiesel Fuel


HOUSTON, TX--(MARKET WIRE)--Apr 6, 2006 -- Nova Energy Holding, Inc. (OTC BB:NVAO.OB - News) announced today it has entered into a $12.5 million joint venture agreement with Scott Petroleum Corp. to construct a 20 million gallon, biodiesel production facility. The two companies also agreed in principle to enter into an agreement for Nova Energy to provide financing in exchange for the right to share equally in production from the new plant, which will be located in Greenville, Mississippi. Construction of the new facility is anticipated to begin in June. Under the agreement, Scott Petroleum made a $2 million deposit.

Scott Petroleum is a family-owned distributor of petroleum products. Begun in 1935, it currently operates 22 bulk plants, seven remotes and seven convenience stores throughout Mississippi, Arkansas and Louisiana.

"We have partnered with Nova Energy because their proprietary technology allows us to process feedstocks that nobody else can handle," said Scott Petroleum President Solon Scott, Jr. "We have looked at all the different technologies out there and Nova has got the only one that meets our high standards."

Nova already has begun construction on two design, engineer and construct facilities, which are located in Camanche, Iowa and DeForest, Wis. Upon completion of all biodiesel production facilities under contract to date, Nova Energy will have built facilities with a total production capacity of 50 million gallons of biodiesel fuel each year, and with an aggregate contract value of $32.5 million. In comparison, according to industry studies, biodiesel production in the United States last year totaled 200 million gallons.

"The propriety, patented processing technology Nova will employ to produce biodiesel gives us a significant competitive advantage compared to current biodiesel industry standards," said Kenneth Hern, Chairman and Chief Executive Officer for Nova. "We can produce a cleaner, higher-quality fuel, at a lower cost, from more than 25 commonly available feedstocks."

According to Hern, at current wholesale prices for biodiesel a 20 million gallon facility would be expected to generate approximately $65 million in revenues per year.

About Nova Energy Holding, Inc.

Nova Energy Holding, Inc., formerly known as Nova Oil, Inc., is an energy company that synthesizes and distributes renewable fuel products. Nova's initial focus will be to construct and operate several biodiesel refineries with production capacity of more than 300 million gallons of fuel on an annual basis. Within three years Nova intends to construct seven biodiesel refineries ranging from 20 to 50 million gallons per year. All seven refineries will utilize Nova's proprietary, patented process technology, which enables the use of a broader range of lower cost feedstocks.

Forward-Looking Statements

This news release contains forward-looking statements, including statements regarding the Company's plans, goals, strategies, intent, beliefs or current expectations. These statements are expressed in good faith and based upon a reasonable basis when made, but there can be no assurance that these expectations will be achieved or accomplished. Readers are urged to carefully review and consider the various risk factors disclosed by the Company in the Company's reports filed with the Securities and Exchange Commission, including the Company's Current Report on Form 8-K filed on April 3, 2006, which describes the risks and factors that may affect the Company's business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, the Company's actual results may vary materially from those expected or projected in this release or in the Company's other filings.



Contact:
CONTACT:
Halliburton Investor Relations
Michelle Clark
[phone]



--------------------------------------------------------------------------------
Source: Nova Energy Holding, Inc.

[Pennystock777]

Irgendwie komm Ich mir vor als allein millionär

[Amexx]

was zum Teufel ist da im letzten Monat passiert?
von 0,5 auf 7 ????
bitte um Aufklärung

[mfierke]

Antwort auf Beitrag Nr.: 21.133.092 von Amexx am 08.04.06 18:49:50

das hätte ich auch gerne gewußt?? in #D nicht handelbar

[Pennystock777]

Aufklärung?! Der steigt, und Morgen ist last chance day!

Bei 6.93 mil. aktien gibts momentan nicht viele am Markt, durchschnittliche umstaz Volumen war etwa 250000-400000 pro Tag.

Emissions gesetz(EPA),wird in USA verstärkt,20% Bio-diesel zumischung entlastet Diesel Emissionen bis zu 80%,ein Klarer Kauf,ab Dienstag vermute das die shorts aussteigen was dem kurs richtung süden tilgt,wer hier noch einsteigt hat nach meiner meinung sein Erwirtschaftliches Gut positioniert.

Als Ahnungsloser Neuling konnte ich nur ein kleines Posi annhemen bei 3.43 und gehe Very Long,Ich sehe hier Potential was die Zukunft verspricht und das auf eine Lange zeit.

W-ater(W-asser),O-il(O-el),S-olar =World-Operating-System(WOS)

Das dieser Aktie nicht in D handelt,anscheinend hat die Firma es nicht nötig da genug Kapital und Interesse vorhanden ist.

[Pennystock777]

Nova Energy Launches Biodiesel Fuel Company
Two Production Facilities Under Construction

$20 Million in Contracts in Place
HOUSTON, TX -- (MARKET WIRE) -- 03/31/2006 -- Nova Energy Holding, Inc. (OTC BB: NVAO) announced the launch of its new biodiesel fuel company, which is headquartered in Houston, Texas. The company's business strategy involves the design, engineering and construction of wholly owned biodiesel refineries in the United States, and the production and marketing of biodiesel fuel and glycerin. The company's common stock trades under the symbol NVAO on the over-the-counter electronic bulletin board.

Nova Energy currently has two full-scale production facilities under construction, with a combined production capacity of more than 30 million gallons per year. Nova has $20 million under contract for the build out of these two facilities.

"The propriety, patented processing technology Nova will employ to produce biodiesel gives the company a significant competitive advantage compared to biodiesel industry standards. We can produce a cleaner, higher-quality fuel at a lower cost, from a broader variety of commonly available feedstocks," said Ken Hern, Chairman and Chief Executive Officer for Nova. "Our team includes former presidents and CEOs from the world's biggest oil companies. More importantly, we have the strongest technical staff in the industry. This high quality group of engineers is led by Dick Talley, a recognized expert in biodiesel. It's a team of partners, not employees."

In addition, the company has entered into agreements with several large food processing companies with commitments for the supply of large volumes of low-cost feedstock sources. Nova Energy intends to produce biodiesel fuel by using its proprietary, patented process technology to produce high quality biodiesel from animal fats as well as vegetable plant oils. Uniquely, Nova can utilize multiple, low-cost feedstocks in any combination to produce high quality biodiesel. Biodiesel can be used on a 100 percent basis, or can be blended with between 2 and 20 percent petroleum diesel.

Biodiesel is currently the fastest growing alternative fuel market in the world. Current biodiesel production is approximately 75 million gallons per year in the U.S. As noted above, Nova's first two production facilities are expected to produce approximately 30 million gallons per year, a production capacity equal to 40 percent of the entire production capacity in the U.S. today. U.S. Department of Agriculture studies project that demand for biodiesel fuel in the U.S. will reach 800 million gallons by 2010, accounting for approximately 2 percent of the 60 billion gallon per year total fuel market.

In the interest of environmental protection, new government regulations and legislation regarding permissible emissions in the U.S. have created an opportunity for the biodiesel industry. The new legislation has mandated lower sulfur content in diesel fuel by 2006. While low-sulfur diesel can have negative effects on engine operation, a blend of 20 percent biodiesel and 80 percent petroleum diesel provides better lubricity and lower toxic emissions for diesel fueled vehicles, while enabling diesel engines to operate safely and efficiently. Biodiesel can be used in any diesel fuel vehicle without modification. The trucking industry and other fleet vehicle users are envisioned as the primary markets for use of biodiesel fuel.

"We are pleased to launch Nova Energy as it addresses three important needs in the U.S. -- reducing environmental pollutants, reducing the nation's dependency on imported crude oil, and meeting the fast-growing demand for biodiesel fuel to power the nation's trucking, rail and marine fleets," Hern said. "Biodiesel can reduce emissions without compromising diesel engine performance, expand the nation's fuel reserves and enable the company to fulfill its commitment to reduce U.S. energy dependency on outside sources. Nova's unique and proprietary system gives us a decided cost advantage over our competitors and we will use this advantage to significantly grow our business in the future."

In addition, Nova Energy announced that its board of directors has declared a three-for-two stock split, which will be payable on April 24, 2006 to holders of record of the company's common stock as of the close of business on April 10, 2006. Fractional shares will be rounded upward to the nearest whole share.

About Nova Energy Holding, Inc.

Nova Energy Holding, Inc., formerly known as Nova Oil, Inc., is an energy company that synthesizes and distributes renewable fuel products. Nova's initial focus will be to construct and operate several biodiesel refineries with production capacity of more than 300 million gallons of fuel on an annual basis. Within three years Nova intends to construct seven biodiesel refineries ranging from 20 to 50 million gallons per year. All seven refineries will utilize Nova's proprietary, patented process technology, which enables the use of a broader range of lower cost feedstocks.

Forward-Looking Statements

This news release contains forward-looking statements, including statements regarding the Company's plans, goals, strategies, intent, beliefs or current expectations. These statements are expressed in good faith and based upon a reasonable basis when made, but there can be no assurance that these expectations will be achieved or accomplished. Readers are urged to carefully review and consider the various risk factors disclosed by the Company in the Company's reports filed with the Securities and Exchange Commission, including the Company's Current Report on Form 8-K to be filed on or about March 31, 2006, which describes the risks and factors that may affect the Company's business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, the Company's actual results may vary materially from those expected or projected in this release or in the Company's other filings.





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CONTACT:
Halliburton Investor Relations
Michelle Clark
[phone]


SOURCE: Nova Energy Holding

[Pennystock777]

Nova Energy launches biodiesel fuel company
By CCJ Staff

Nova Energy Holding has launched a biodiesel fuel company to design, engineer and construct wholly owned biodiesel refineries in the United States, and address the production and marketing of biodiesel fuel and glycerin. With two full-scale production facilities currently under construction, the combined production capacity is more than 30 million gallons per year. Nova has $20 million under contract for the completion of the two facilities.

Nova Energy intends to use its proprietary, patented process technology to produce biodiesel from animal fats as well as vegetable plant oils. Nova says it can use multiple, low-cost feedstocks in any combination to produce high-quality biodiesel that can be used on a 100 percent basis, or can be blended with between 2 and 20 percent petroleum diesel.

"We are pleased to launch Nova Energy as it addresses three important needs in the U.S. -- reducing environmental pollutants, reducing the nation's dependency on imported crude oil, and meeting the fast-growing demand for biodiesel fuel to power the nation's trucking, rail and marine fleets," says Ken Hern, chairman and chief executive officer for Houston-based Nova. "Biodiesel can reduce emissions without compromising diesel engine performance, expand the nation's fuel reserves and enable the company to fulfill its commitment to reduce U.S. energy dependency on outside sources."

Nova Energy Holding, formerly known as Nova Oil, synthesizes and distributes renewable fuel products. The company's initial focus will be to construct and operate several biodiesel refineries with total production capacity of more than 300 million gallons of fuel on an annual basis. Within three years, Nova intends to construct seven biodiesel refineries ranging from 20 to 50 million gallons per year

[Pennystock777]

NVAO

NOVA OIL INC
Daily Commentary


Our system posted a HOLD today. The previous BUY recommendation was issued on 04.03.2006 (4) days ago, when the stock price was 1.7500. Since then NVAO has gained 308.57% .



Why Compromise?
Trade Smarter with Fidelity

Our advice today is simple and clear. Hold your stocks and wait for a new signal.

Do not bother yourself with further buying and selling as long as the HOLD tag stays.

Data provided by: End of Day Data



HOLD


7.1500
+2.4500 +52.13%

Candlestick Analysis
Today’s Candlestick Patterns:
Long White Candlestick




Today a Long White Candlestick was formed. This shows that the prices advanced significantly from open to close during the day under strong buying pressure.

www.americanbulls.com

[Pennystock777]

Leider muss Ich noch auf der Ärbet, ja auch sonntags dreht die welt,hier ein bischen zum nachlesen wo die zukunft geht, viel spass

http://www.altenergytoday.com/

[nbielfeldt]

was ist das bitte? keine news keine infos und mal eben 1000% in einer Woche! Ob das mit rechten Dingen zu geht? Holdings mag ich eigentlich nicht! hmm

[Pennystock777]

ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT

Share Exchange Agreement with Biosource America, Inc. and the Shareholders of Biosource America

On March 30, 2006, Nova Oil, Inc., a Nevada corporation (“Nova Oil” or the “Company”), entered into a share exchange agreement (the “Share Exchange Agreement”) with Biosource America, Inc., a Texas corporation (“Biosource America”), and holders of shares of capital stock of Biosource America (collectively the “Biosource Stockholders”). Pursuant to the Share Exchange Agreement, at closing, each Biosource Stockholder will exchange three shares of common stock of Biosource America for two shares of common stock of Nova Oil (the “Share Exchange”). The Share Exchange is expected to close on March 31, 2006 and, as a result, Nova Oil will issue 40,000,000 shares of its common stock in the aggregate and Biosource America will become a subsidiary of Nova Oil. As of March 30, 2006, Nova Oil had 6,925,000 shares of common stock issued and outstanding. Under the terms of the Share Exchange Agreement, the board of directors of Nova Oil declared a three-for-two forward stock split (to be effected as a 50% stock dividend) payable on April 24, 2006 to holders of record as of April 10, 2006. After the Share Exchange and the stock split, it is anticipated that the Company will have approximately 70,387,500 shares of common stock issued and outstanding.

[nbielfeldt]

heisse nummer aber bei 9 euro will ich nicht mehr einsteigen! Der fall würde weh tun!

[Pennystock777]

Und wie die fällt

Pendelt sich wieder ein bei .50 cent in denn nächsten tagen.

[nbielfeldt]

DAS HABE ICH NICHT BEHAUPTET! DOCH BEI 9 WAR ERSTMAL DER HÖCHSTSTAND! ALSO ICH SEHE ERSTMAL VERKAUFSDRUCK! IST DOCH AUCH LEGITIM NACH DEM ANSTIEG! DA WÜRDE ICH AUCH EINIGES VERGOLDEN!

[nbielfeldt]

seit meinem Posting halbiert! also hatte ich wohl doch ein wenig recht ;-) Der jetzt bei 9 euro eingestiegen ist, der tut mir erstmal leid!

[Pennystock777]

Heute ist Settlement Day für die am Letzten Freitag gekauft haben,und morgen(Karfreitag) für die vom Montag,USA hat auch Feiertag am Freitag ist die Boerse dennoch offen?

Egal, in denn Nächsten Drei Jahren ist einsammeln angesagt, Das Produkt ist Positiv und Basiert sich auf der Zukunft, bei ca. .50 bis 1.00 kann sich was Später sehen lassen

Viel Spass beim Sammeln Going LLLOONNNGGG

[nbielfeldt]

ja börse sollte offen sein! Denke aber wir werden erstmal noch rutschen! Kaufe noch nicht! Hast du genaue Infos zum produkt und wann fertig? Welcher große steckt dahinter?

grüsse nb

[nbielfeldt]

erst hoch loben bei 9 euro und nun bei 4 euro nichts mehr sagen... ;-)

gib mal infos!!!

[nbielfeldt]

aua aua aua aua

[Pennystock777]

Heute sind Sie wieder heiss begehrt,das können nur Fondis sein bei solche umsätze,naja wer schon Reich ist kann nur Reicher werden

[nbielfeldt]

die tage wieder im plus das ist gut! Doch bitte schreib nicht so nen Quark! Bei den Stückzahlen können das nicht wirklich Fonds sein!!! ;-) Dennoch interessant, wenn Nova Oil das so weiterspielt, dann könnte man immer gut ein paar Scheine damit machen!

[nbielfeldt]

Antwort auf Beitrag Nr.: 21.278.728 von Pennystock777 am 21.04.06 21:23:48

hoffe du bist rechtzeitig raus ;-)

[Pennystock777]

Aber Logo,wenn die mal wieder unter 1.00 sind dann ersuche ich noch ein wenig anzuhäufen,noch sind die zu warm.



Ansonsten good Hunting

[Pennystock777]

Nova Energy Reports Second Quarter 2006 Results
Second Quarter Nets More Than $5 Million in Revenues
HOUSTON, June 16 /PRNewswire-FirstCall/ -- Nova Energy Holding, Inc. (OTC: NVAO) today reported financial results for the second quarter ended April 30, 2006, its first as a biodiesel energy company since it ceased being a 'shell' company on March 31, 2006. On that date, Nova completed a share exchange with the shareholders of Biosource America, an operational biodiesel energy company, and began operating under the trade name Nova Energy Holding, Inc. In connection with the share exchange, Biosource America became a wholly-owned subsidiary of Nova and the company adopted the October 31 fiscal year end of Biosource America.

Revenues for the three months ended April 30, 2006 were approximately $4.5 million with a net loss of approximately $1.9 million. The company's cash balance on April 30, 2006 was approximately $5.3 million. During the quarter the company recorded a non-cash interest expense of approximately $1.4 million incurred in connection with the issuance of 1,333,333 shares in exchange for the cancellation of approximately $5.0 million of outstanding indebtedness and incurred approximately $611,000 of selling, general and administrative expenses.

'We had a strong start in executing our growth strategy during our first quarter of operations as Nova Energy,' said Ken Hern, Chairman and Chief Executive Officer. 'We are very pleased with the results and look forward to continuing to implement our first-year business strategies.'

Biosource America was formed in December 2005 and acquired substantially all of the assets of Biosource Fuels, LLC in February 2006 for a purchase price of approximately $6 million, consisting of $1 million in cash paid at closing and a promissory note for approximately $5 million. Biosource Fuels was a joint venture formed by, among others, Kenosha Beef International, Ltd. and in particular its founder Charles Vignieri, to research and develop a unique and cost-effective biodiesel process technology that addressed biodiesel quality concerns, the use of multiple low cost agriculture and animal based feedstock and recovery of a high value glycerin co-product from the biodiesel refining process. These research and development efforts resulted in the successful design and construction of a fully continuous flow biodiesel pilot refinery in Butte, Montana, built under the leadership of the current president of Biosource America, Richard Talley. On April 28, 2006, Kenosha Beef International and the investors in Biosource Fuels, LLC reached an agreement with Nova to amend the original asset purchase agreement and cancel the promissory note in exchange for the issuance of 1,333,333 shares of Nova common stock. After the completion of this transaction, Nova has approximately 71.7 million shares of common stock issued and outstanding.

'We are greatly encouraged by the confidence the members of Biosource Fuels, and in particular Mr. Vignieri, showed in us by canceling our debt in order to invest in the long-term future of Nova Energy,' Mr. Hern said. 'We are now poised to execute our financial and operating plans to execute our growth strategy.'

Revenues for the quarter were primarily earned from contracts with third parties to design and build three, full-scale biodiesel refineries currently in the design and construction phase.

The first refinery is being built in Clinton County, Iowa under an agreement with Clinton County Bio Energy, LLC, which provides for the design and construction of a 10 million gallon per year biodiesel refinery. This facility will be wholly owned by Clinton County Bio Energy. The targeted completion date of this facility is September 2006, although there can be no assurance that the construction and completion will not be delayed.

'The progress made at the Clinton County, Iowa facility is outstanding,' Mr. Hern said. 'We are anticipating an extremely positive reaction when this facility begins production late this summer. It will serve to provide the public with a fine example of our technology's superior, multi-feedstock biodiesel refining capability.'

The second refinery is being built near DeForest, Wisconsin, and the facility will be wholly owned by Anamax Energy Services. Nova's agreement with Anamax provides for the design and construction of a 20 million gallon per year biodiesel facility on the premises of an Anamax-owned rendering plant and will include an adjacent tank farm for the storage of finished product. The targeted completion date of this facility is January 2007, although there can be no assurance that the construction and completion will not be delayed.

The third refinery is being built for Scott Petroleum Corp. and the agreement provides for the design and construction of a 20 million gallon per year biodiesel refinery located in Greenville, Mississippi. In addition, Nova has reached an agreement in principle with Scott Petroleum to purchase 50 percent of this facility's production for ten years at approximately the production cost in exchange for initial and deferred payments intended to reimburse Scott Petroleum for the incremental construction costs associated with increasing the capacity from 10 to 20 million gallons per year. The targeted completion date for this facility is anticipated to be in early 2007, although there can be no assurance that the construction and completion will not be delayed.

In addition to the completion of the three biodiesel refineries for third parties, Nova's growth strategy for 2006 includes the design, planning and construction of two to four additional biodiesel refineries for its own account. Nova's management is currently evaluating prospective sites, arranging financing for site preparation, equipment procurement and facility construction and for general working capital requirements, negotiating long term leases or real estate purchase agreements, negotiating long-term contracts for the supply of low-cost feedstocks and negotiating contracts for the sale of the biodiesel fuel produced from these prospective plants. Nova's growth strategy depends on the successful funding of debt and equity capital in the near future to meet its projected financial needs and there can be no assurance that the company will be successful in obtaining such funding.

About Nova Energy Holding, Inc.

Nova Energy Holding, Inc. is currently the trade name for Nova Oil, Inc. and the company intends to change its name to Nova Energy Holding, Inc. in the near future. Nova is an energy company in the business of synthesizing and distributing renewable fuel products and related co-products. Nova's initial focus will be to construct and operate two to four biodiesel refineries with production capacity of between 120 to 240 million gallons of biodiesel on an annual basis. Nova's business strategy for the next three years includes the construction of up to seven biodiesel refineries with production capacities ranging from 20 to 60 million gallons per year. All of Nova's refineries will use its proprietary, patented process technology, which enables the use of a broader range of lower-cost feedstocks. More information on Nova Energy can be found at http://www.novaenergyholding.com.

Forward Looking Statements

This news release contains forward-looking statements, including statements regarding Nova's plans, goals, strategies, intent, beliefs or current expectations. These statements are expressed in good faith and based upon a reasonable basis when made, but there can be no assurance that these expectations will be achieved or accomplished. Readers are urged to carefully review and consider the various risk factors disclosed by Nova in its reports filed with the Securities and Exchange Commission, including Nova's Current Report on Form 8-K filed on April 3, 2006 and its Quarterly Report on Form 10-Q filed on June 15, 2006, which describes the risks and factors that may affect Nova's business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, Nova's actual results may vary materially from those expected or projected in this release or in Nova's other filings.

SOURCE Nova Energy Holding, Inc.



Source: PR Newswire (June 16, 2006 - 6:00 AM EDT)

News by QuoteMedia
www.quotemedia.com

[Pennystock777]

Denn sein Gehalt möchte ich auch haben

Nova Names New Vice President of Operations
Former ExxonMobil Engineer to Lead Operations
HOUSTON, June 20 /PRNewswire-FirstCall/ -- Nova Energy Holding, Inc. (OTC Bulletin Board: NVAO) announced today that it has named Russell D. 'Rusty' Sammons as Vice President of Operations for the alternative fuel company. Mr. Sammons served ExxonMobil for more than 11 years prior to accepting the new post.

'Rusty brings over a decade of practical refinery engineering experience to Nova Energy,' said Kenneth Hern, Nova's Chairman and CEO. 'His experience in leading the planning and control of turnarounds and large maintenance projects at the largest refinery in the U.S. and its accompanying chemical plant will have a meaningful impact to our team. We are extremely pleased that he is joining us in building Nova Energy into a major biodiesel company.'

Mr. Sammons earned a master's degree in business administration from the University of Houston and a bachelor's degree in mechanical engineering from the Colorado School of Mines. He began his career with Exxon in 1995 as a mechanical engineer and was promoted to more challenging assignments as a refinery profitability and energy analyst, a mechanical section supervisor and turnarounds and major projects planning section supervisor throughout his career with Exxon and ExxonMobil.

For Nova Energy, Mr. Sammons will provide hands-on leadership for the company's operations as it seeks to plan and build several biodiesel refineries for its own account. In addition, he will supervise the development and implementation of operational and safety procedures for the biodiesel refineries of Nova's construction clients and, later, for Nova's biodiesel refineries.

About Nova Energy Holding, Inc.

Nova Energy Holding, Inc. is currently the trade name for Nova Oil, Inc. and the company intends to change its name in the near future. Nova is an energy company in the business of synthesizing and distributing renewable fuel products and related co-products. Nova's initial focus will be to construct and operate two to four biodiesel refineries with production capacity of between 120 to 240 million gallons of biodiesel fuel on an annual basis. Nova's business strategy for the next three years includes the construction of up to seven biodiesel refineries with production capacities ranging from 20 to 60 million gallons per year. All of Nova's refineries will use its proprietary, patented process technology, which enables the use of a broader range of lower cost feed stocks. More information on Nova Energy can be found at http://www.novaenergyholding.com.

Forward Looking Statements

This news release contains forward-looking statements, including statements regarding Nova's plans, goals, strategies, intent, beliefs or current expectations. These statements are expressed in good faith and based upon a reasonable basis when made, but there can be no assurance that these expectations will be achieved or accomplished. Readers are urged to carefully review and consider the various risk factors disclosed by Nova in its reports filed with the Securities and Exchange Commission, including Nova's Current Report on Form 8-K filed on April 3, 2006 and its Quarterly Report on Form 10- Q filed on June 15, 2006, which describes the risks and factors that may affect Nova's business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, Nova's actual results may vary materially from those expected or projected in this release or in Nova's other filings.

SOURCE Nova Energy Holding, Inc.



Source: PR Newswire (June 20, 2006 - 11:15 PM EDT)

News by QuoteMedia
www.quotemedia.com

[Pennystock777]

Nova Secures Land to Build First Wholly Owned Biodiesel Refinery; Kaluzny Brothers Affiliate to Invest in Refinery
HOUSTON, June 27 /PRNewswire-FirstCall/ -- Nova Energy Holding, Inc. (OTC Bulletin Board: NVAO) announced today that one of its subsidiaries has signed real estate purchase and feedstock supply agreements for its first wholly owned biorefinery, which will be located in Seneca, Illinois. These agreements mark the first step in Nova's strategic plan to build and operate biodiesel refineries for its own account.

'The site for our first biorefinery makes perfect sense, because it has excellent truck, barge and rail access,' said Kenneth Hern, Nova's Chairman and CEO. 'We are extremely pleased to have land and feedstock contracts on the table for Nova's first biodiesel plant. We are also honored to have the opportunity to partner with the Kaluzny Brothers, who are showing tremendous confidence in our proprietary, multi-feedstock technology.'

The feedstock supply agreement with Lipid Logistics, LLC, an affiliate of Kaluzny Brothers, Inc., will provide for all the feedstock requirements of the proposed 60 million gallon per year facility. The real estate purchase agreement provides for the purchase of 54 acres in the Shipyard Industrial Park of Seneca, Illinois near Chicago and gives Nova a sixty-day inspection period, which may be extended. The real estate purchase agreement is subject to customary closing conditions.

In addition, KBI Energy, another Kaluzny Brothers affiliate, has agreed to provide $4 million in project equity financing for the proposed Seneca refinery. The investment is expected to close in mid-July.

'We have partnered with Nova Energy because their proprietary technology offers a competitive advantage in the marketplace,' said David Kaluzny II, Kaluzny Brothers' Vice-President. 'After careful study of the different technologies available in refining biodiesel fuel, we believe Nova Energy is the only company that can meet and exceed the biodiesel quality standards necessary to instill confidence in fuel distributors and OEM manufacturers.'

About Nova Energy Holding, Inc.

Nova Energy Holding, Inc. is currently the trade name for Nova Oil, Inc. and the company intends to change its name in the near future. Nova is an energy company in the business of synthesizing and distributing renewable fuel products and related co-products. Nova's initial focus will be to construct and operate two to four biodiesel refineries with production capacity of between 120 to 240 million gallons of biodiesel fuel on an annual basis. Nova's business strategy for the next three years includes the construction of up to seven biodiesel refineries with production capacities ranging from 20 to 60 million gallons per year. All of Nova's refineries will use its proprietary, patented process technology, which enables the use of a broader range of lower cost feed stocks. More information on Nova Energy can be found at http://www.novaenergyholding.com .

About Lipid Logistics and KBI Energy

Lipid Logistics and KBI Energy are affiliates of Kaluzny Brothers, Inc., based in Joliet, Illinois. Kaluzny Brothers is a leading supplier of rendering services and sales of finished rendered products in the Mid-West. Kaluzny Brothers is a member of the National Renderers Association, the Fats and Proteins Research Foundation, the Animal Protein Producers Industry, the Global Recycling Network and the Three Rivers Manufacturers' Association. David Kaluzny II is the President of the National Renderers Association and a member of the Board of Directors of the Fats and Proteins Research Foundation.

Forward-Looking Statements

This news release contains forward-looking statements, including statements regarding Nova's plans, goals, strategies, intent, beliefs or current expectations. These statements are expressed in good faith and based upon a reasonable basis when made, but there can be no assurance that these expectations will be achieved or accomplished. Readers are urged to carefully review and consider the various risk factors disclosed by Nova in its reports filed with the Securities and Exchange Commission, including Nova's Current Report on Form 8-K filed on April 3, 2006 and its Quarterly Report on Form 10- Q filed on June 15, 2006, which describes the risks and factors that may affect Nova's business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, Nova's actual results may vary materially from those expected or projected in this release or in Nova's other filings.

SOURCE Nova Energy Holding, Inc.



Source: PR Newswire (June 27, 2006 - 6:51 PM EDT)

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Form 10QSB/A for NOVA OIL INC


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30-Jun-2006

Quarterly Report



Item 2. Management's Discussion and Analysis or Plan of Operation. Corporate History
Nova Oil, Inc.

Nova Oil was incorporated February 25, 2000 under the laws of the State of Nevada. Nova Oil was originally organized primarily for the purpose of acquiring, either alone or with others, interests in developed producing oil and gas leases, with the objective of establishing a solid cash flow base.

On April 5, 2005, Nova Oil's common stock was made effective by the National Association of Securities Dealers for listing and trading on the Nasdaq Over The Counter Bulletin Board System. Nova Oil's common stock trades under the symbol "NVAO." As of October 19, 2005, Nova Oil completed the sale of all its oil and gas well interests and, as a result, became a "shell company" as it ceased operations and shifted its primary activity to seeking merger or acquisition candidates with whom it could either merge or acquire. Nova Oil is a "small business issuer" as defined by Rule 12b-2 of the Securities Exchange Act.

As of March 30, 2006, prior to the share exchange and the stock split described below, Nova Oil's authorized capitalization consisted of 500,000,000 shares of common stock at $0.001 par value and 5,000,000 shares of preferred stock at $0.0001 par value, with 6,925,000 shares of common stock outstanding and no shares of preferred stock outstanding. Nova Oil completed the share exchange on March 31, 2006, pursuant to which it issued 40,000,000 shares of its common stock to the holders of shares of common stock of Biosource America, Inc. upon surrender of certificates in exchange therefore. Each Biosource shareholder received two shares of common stock of Nova Oil in exchange for every three shares of common stock of Biosource America surrendered in exchange therefore. As a result of the share exchange, Biosource America became a subsidiary of Nova Oil, a change of control of Nova Oil occurred as the former Biosource Stockholders acquired approximately 86% of the issued and outstanding shares of common stock of Nova Oil and Nova Oil ceased being a "shell company," as such term is defined by Rule 12b-2 under the Securities Exchange Act of 1934, as amended. Also on March 31, 2006, Nova Oil declared a three-for-two forward stock split payable on April 24, 2006 to holders of record on April 10, 2006. After the stock split and the share exchange, Nova Oil had approximately 70,387,523 shares of common stock issued and outstanding. On April 28, 2006, Nova Oil agreed to issue 1,333,333 shares of common stock in exchange for the cancellation of debt of $5,000,000, which resulted in approximately 71,720,856 shares of common stock issued and outstanding.

Prior to the share exchange, Nova Oil had no full-time or part-time employees. All of its directors and officers served without compensation except for the shares of common stock of Nova Oil granted in 2005 as described in Item 10 to Nova Oil's annual report on Form 10-K for the year ended December 31, 2005.

After the share exchange, the principal executive offices of Nova Oil were moved to the Riviana Building, 2777 Allen Parkway, Suite 800, Houston, Texas 77019, telephone number 713-869-6682, and facsimile number 713-868-1267. Our internet website address is www.novaenergyholding.com.

Biosource America, Inc.

Our principal operating subsidiary, Biosource America, Inc., was incorporated under the laws of the State of Texas on December 1, 2005. On February 10, 2006, Biosource America completed the acquisition of substantially all of the assets of Biosource Fuels, LLC, which had been in the business of developing, marketing, selling and licensing processes and technologies for the synthesis of biodiesel and other biofuels from animal and vegetable based fats, oils and greases. As part of the acquisition of Biosource Fuels, Biosource America acquired a patent and related patent applications with respect to the production of biodiesel and glycerin from high free fatty acid feedstocks. In addition, Biosource America acquired a fully continuous flow biodiesel pilot refinery that had been built in January 2003 in Butte, Montana. This pilot refinery has a production capacity of 80,000 gallons of biodiesel per year. Presently, Biosource America has agreements with three third parties to design and build three biodiesel refineries, one in Clinton County, Iowa, one in DeForest, Wisconsin and one in Greenville, Mississippi. Our current strategy includes the construction of two to four additional refineries for our own account, although we may enter into agreements to construct one or more refineries as joint ventures.

Plan of Operations

Short-Term Plan of Operations

Implementation of our business plan for the next twelve months will require the ability to generate cash flow to satisfy planned expenditure requirements. We currently do not have sufficient cash reserves to meet all of our anticipated obligations for the next twelve months. As a result, we are in the process of seeking additional equity and debt funding in the near future.



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Our short-term plan for growth in 2006 is dependent upon our ability to successfully execute our financial plan to raise capital and arrange for financing sufficient to accomplish the following integrated strategy:

† We must complete the three existing agreements for designing and building biodiesel production plants and take measures to ensure such plants are operated at the desired levels of capacity and quality.

† We must complete an initial equity financing for $10 to $15 million for general and administrative expenses and for operating expenses we expect to incur during 2006. We intend to move forward promptly with the design and construction of two to four biodiesel plants for our own account, and to arrange for project financing for these plants. We also intend to seek (a) to arrange long term contracts for the supply of low cost feedstock for these biodiesel plants and (b) to enter into contracts for the sale of the biodiesel fuel produced from these plants.

† We intend to seek out joint venture partners who are strategically situated to benefit us with respect to the engineering, construction and operation of biodiesel plants for our joint benefit. An example of such a strategic partner might be a supplier of feedstock who can also provide the equity capital necessary in order to obtain project financing for the joint venture's engineering and construction of a biodiesel plant.

We expect general and administrative expenditures to be approximately $150,000 per month. Our executive offices are located in Houston, Texas, and we have approximately seventeen employees, inclusive of three officers in our Houston office, of which five are responsible for our administrative and accounting functions.

Longer Term Plan of Operations

If we are successful in implementing our short-term business plan, we intend to implement a longer term business plan that would include:

† We intend to seek out opportunities domestically to increase biodiesel refinery production capacity and cash flow through the engineering, construction and operation of domestic biodiesel plants for our own account. We hope to be able to expand into foreign markets, such as Central & South America and Asia.

† We intend to focus on entering into long term feedstock supply contracts in order to supply our own refineries with the feedstock needed to utilize our biodiesel refinery capacity.

† We intend to continue our efforts to find committed buyers for our biodiesel product. For example, heavy trucks represent an opportunity for immediate biodiesel sales due to increased government regulations on emissions, established distribution channels, and the lack of U.S. biodiesel production. Further, the U.S. armed forces are currently the nation's single largest consumer of diesel fuel. We believe there is an opportunity to provide fuel to the military's existing vehicles, as well as future opportunities because it is expected that new government regulations will require that a high percentage of the Department of Defense's new vehicles must be alternative fuel vehicles. The United States Post Office, as well as other government agencies, such as the National Parks Service, is expected in the future to be a large consumer of biodiesel blends in its vehicles. In addition, the States of Minnesota and Texas have both passed legislation to increase the use of biodiesel in government vehicles.

† We intend to seek out strategic joint venture partners domestically as well as in foreign markets who can provide us strategic benefits in terms of long term feedstock supply contracts, long-term commitments to buy biodiesel and capital commitments necessary to engineer, construct and operate biodiesel plants domestically and in such foreign countries.

† We intend to seek qualified, experienced and motivated professionals to enhance our management team. Qualified refinery operators, managers and engineers are in short supply. However, we believe that we will be in a position to offer enticing opportunities for such professionals.

† We believe that establishing an effective presence in foreign countries is essential for the long-term success of our biodiesel refineries. In order to be effective, we must be familiar with the local operating environment, the local refineries industry, and local companies and governments. We hope to achieve a local presence by employing qualified and respected local management and professionals.



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† We believe that our proprietary process technologies give us an advantage in the industry. However, to remain competitive, we will need to continue to apply this technology in new ways, as well as develop future technologies.

Business Strategy

Our current business strategy for the remainder of the fiscal year involves the design and construction of biodiesel refineries in the United States and the production and marketing biodiesel and other biofuels in such region. Through our wholly owned subsidiary, Biosource America, we currently have three full scale production facilities in the design and construction phase. The first facility is being built in Clinton County, Iowa and the agreement with Clinton County Bio Energy, LLC currently provides for the design and construction of a facility with a production capacity of ten million gallons per year. The targeted substantial completion date is September 2006, although there can be no assurance that the construction and completion will not be delayed. The second plant is being built near DeForest, Wisconsin and the agreement with Anamax Energy Services, Inc. provides for the design and construction of a facility with a production capacity of twenty million gallons per year along with an adjacent tank farm. The targeted substantial completion date is January 2007, although there can be no assurance that the construction and completion will not be delayed. The third plant will be located in Greenville, Mississippi and the agreement with Scott Petroleum Corporation provides for the design and construction of a facility with a production capacity of twenty million gallons per year and we have reached an agreement in principle for the right to receive 50% of such facility's production at approximately the production cost. In exchange for such right, we have agreed in principle to pay an initial fee of $2.5 million upon substantial completion of the facility and to pay an additional $2.7 million plus certain incremental costs through a markup to the cost of the production. The targeted completion date is early 2007.

In addition, our current business strategy calls for the design and construction of biodiesel refineries for our own account in order to produce and market biodiesel and related products. This strategy would require:

† Locking Up Low Cost Feedstock. Because feedstock represents 65-80% of biodiesel's fuel cost, it is imperative that we are able to acquire raw materials at a reasonable cost in order to be competitive in the marketplace. We are currently engaged in negotiations with several large food processing and rendering companies in an effort to obtain commitments for the supply of low cost feedstock sources.

† Acquiring of Production Capacity. We are focused on building biodiesel plants for our own account in order to establish a substantial internal biodiesel refinery production capacity, which we believe will enable us to generate income from the marketing of biodiesel to domestic companies.

† Improved Process Technology. Our proprietary biodiesel production technology produces fuel that is intended to meet or exceed ASTM 6751 standards, which is the standard for biodiesel fuels set forth by the American Society for Testing and Materials ("ASTM").

Biodiesel Production Economics

We believe that the economics of biodiesel production, whether derived from vegetable or animal based feedstocks, are affected by several factors:

† Commodity Prices. Biodiesel is a fuel that will likely be traded as a commodity based on a competitive value per British thermal unit ("BTU"), much like other fuels that are traded on the open market. In order to be successful and experience growth, the biodiesel industry will have to produce fuel that matches petroleum-derived diesel fuel pricing.

† Product Quality. Customer acceptance and confidence is essential in order for consumers to embrace and utilize the fuel as a substitute for petroleum-derived diesel fuel. Our biodiesel production process was developed with the objective of producing a fuel that meets or exceeds the product quality of petroleum-derived fuels.

† Feedstock Limitations. Feedstock cost comprises approximately 65-80% of all of biodiesel's production costs. Feedstocks generally range in value from 10 to 25 cents per pound and most feedstocks can produce one gallon of biodiesel from every 8 pounds of available tri-glyceride present in the feedstock, resulting in feedstock supply costs of at least $0.80 to $2.00 per gallon. Processing costs generally range from $0.30 to $0.45 per gallon. Processing costs are fairly uniform throughout the industry. As a result, we believe that total biodiesel production costs can range from $1.10 per gallon to as high as $2.45 per gallon, with prices being primarily driven by price of the feedstock.

Currently, according to the National Biodiesel Board ("NBB"), the majority of biodiesel production is derived from soybean oil feedstock primarily because of its availability and the relative ease of converting the low free fatty acid vegetable oil into a



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biodiesel that can conform to ASTM standards. Commodity prices for soybeans trade at a caloric (food) value rather than at a BTU value, which is generally the basis upon which biodiesel is bought and sold. This commodity pricing difference generally makes soybean oil the preferred feedstock over inedible tallow, yellow grease, poultry fat or other waste vegetable oils.

We believe that our true multi-feedstock refining capability with comparable biodiesel quality may provide a competitive advantage over a single feedstock refining capability. For example, our biorefinieries are expected to have the capability to run a 1% free fatty acid ("FFA") soybean oil and then immediately shift to a 20% FFA yellow grease without any changes to the plant, capital equipment, production costs or process conditions.

Industry Overview

Although prices for diesel fuel fluctuate on the commodities market, according to the United States Department of Energy, in 2005, prices reached 10 year record highs. Petroleum refining activity in many countries is or has been dominated by larger companies that may have overlooked or undervalued smaller-sized biodiesel refinery opportunities. We believe that the high diesel fuel prices and concentrated petroleum refining capacity has created market entry opportunities for smaller companies.

The biodiesel market in the United States has experienced significant growth over the past several years and the NBB expects growth to continue well into the future. According to the NBB, domestic biodiesel production has increased each year since 1999. In 2002, approximately 15 million gallons of biodiesel fuel were used, with most consumption concentrated in the federal, state, and local governments. National consumption in 2004 reached 25 million gallons, with expansion through public retail pumps and governmental fleets.

In the interest of environmental protection, new government regulation and legislation regarding permissible emissions in the United States have created an opportunity for the biodiesel industry. Most notably, recent U.S. environmental protection legislation has mandated lower sulfur contents in diesel fuel by 2006. Decreased sulfur in diesel inhibits lubricity, making petroleum diesel less desirable to use as a stand-alone product in diesel engines. Biodiesel blends such as B20, a common biodiesel blend of 20% biodiesel and 80% petroleum diesel provides acceptable levels of lubricity, which enables diesel engines to be safely operated while maintaining lower levels of sulfur emissions.

In 2004, according to the NBB, U.S. biodiesel production was approximately 75 million gallons. The use of biodiesel, while comprising less than 0.1% of the entire petroleum diesel market (an estimated 60 billion gallons), was the fastest growing alternative fuel market in the world. Based on studies conducted by the United States Department of Agriculture ("USDA") and the NBB, it was reported that, by 2010, the demand for biodiesel in the U.S. will reach 800 million gallons, accounting for approximately 2% of the 60 billion-gallon per year total fuel market.

Government regulation globally has stimulated biodiesel growth in both the U.S and other countries. Much of the world's industry growth is being driven by environmental protection legislation, mandated biodiesel blends and fiscal incentives.

Our growth will, in large part, depend on our ability to capture a substantial amount of the available feedstock. Considering the exponentially growing biodiesel market, future importance will be placed on the limited supply of feedstocks as well as companies that are able to efficiently use a variety of these feedstocks.

According to the United States Census Bureau, in 2005 in the U.S. there was an estimated total of 1.73 billion gallons of tallow, yellow/brown grease and poultry fat available for domestic consumption or export. Approximately one-third of these fats are exported annually. Exported fats provide the greatest opportunity to acquire feedstock without competing with the current domestic consumption. Biosource Fuels had an excellent reputation in the rendering industry and we intend to acquire rendered fats both on a commodity basis as well as through future joint venture relationships, which is anticipated to help us maintain a long-term feedstock supply.

Our growth will generally be measured in terms of production and corresponding cash flow. A significant determinant of cash flow will be commodity feedstock costs and diesel prices, over which we have no control. However, we believe that we have superior biodiesel production technology to that of our current competitors, which will enable us to efficiently utilize multiple low cost feedstocks and provide us with an economic advantage over our competitors.

LIQUIDITY AND CAPITAL RESOURCES

Consolidated Cash and Cash Flows from Operations

As of April 30, 2006, we had a cash balance of $5,281,197 and for the four months ended April 30, 2006 we generated cash flow from operations of $5,017,119. The primary funding of operations was received through cash received from contracts in



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progress. We do not currently have sufficient cash reserves to meet all of our anticipated obligations for the next twelve months and we will require additional equity and debt funding in the near future to meet the projected financial needs.

Conversion of Outstanding Debt

On April 28, 2006, we agreed to issue 1,333,333 shares of common stock to Biosource Fuels, LLC in exchange for the cancellation of our debt obligation that arose as a result of the acquisition of the business of Biosource Fuels. The transaction resulted in a non-cash interest expense in the amount of $1,413,233.

RESULTS OF OPERATIONS

Consolidated for the three months and four month ended April 30, 2006

We recorded contract revenues in the amount of $4,544,624 for the three months ended April 30, 2006 and costs incurred on uncompleted contracts of $4,450,530 for the same period. Contract revenues were recognized on the percentage-of-completion method, measured by the percentage of costs incurred to date to estimated costs for each contract.

Operating expenses of $2,083,008 were incurred for the three months ended April 30, 2006. Such amount includes a non-cash interest expense of $1,413,233 that was recorded as a result of debt converted to equity (see - Conversion of Outstanding Debt). For the four months ended April 30, 2006, we recorded operating expenses of $2,118,610.

A net loss of $1,988,914 was incurred for the three months ended April 30, 2006. For the four months ended April 30, 2006, we incurred a net loss of $2,024,516 or a net loss of three cents per share.

CRITICAL ACCOUNTING POLICIES

Impairment of Long-Lived Assets

In the event that facts and circumstances indicate that the cost of the long-lived assets used in our operations might be impaired, an evaluation of recoverability would be performed. If an evaluation were required, the estimated undiscounted cash flow estimated to be generated by those assets would be compared to their carrying amounts to determine if a write-down to market value or discounted cash flow is required.

Impairment of Goodwill

We evaluate the carrying value of goodwill during the fourth quarter of each year and between annual evaluations if events occur or circumstances change that would more likely than not reduce the fair value of the reporting unit below its carrying amount. Such circumstances could include, but are not limited to: (1) a significant adverse change in legal factors or in business climate,
(2) unanticipated competition, or (3) an adverse action or assessment by a regulator. When evaluating whether goodwill is impaired, we compare the fair value of the reporting unit to which the goodwill is assigned to the reporting unit's carrying amount, including goodwill. The fair value of the reporting unit is estimated using a combination of the income, or discounted cash flows, approach and the market approach, which utilizes comparable companies' data. If the carrying amount of a reporting unit exceeds its fair value, then the amount of the impairment loss must be measured. The impairment loss would be calculated by comparing the implied fair value of reporting unit goodwill to its carrying amount. In calculating the implied fair value of reporting unit goodwill, the fair value of the reporting unit is allocated to all of the other assets and liabilities of that unit based on their fair values. The excess of the fair value of a reporting unit over the amount assigned to its other assets and liabilities is the implied fair value of goodwill. An impairment loss would be recognized when the carrying amount of goodwill exceeds its implied fair value. Our evaluation of goodwill completed during the year resulted in no impairment losses.

Revenue Recognition

Revenues from contracts are recognized on the percentage-of-completion method, measured by the percentage of costs incurred to date to estimated total costs of each contract. This method is used because we consider total costs to be the best available measure of progress on the contracts. Contract costs include all direct material, labor cost and those indirect costs related to contract performance, such as supplies, equipment repairs, employee travel and supervisor time. Selling, general and administrative costs are charged to expense as incurred. Provisions for estimated losses on uncompleted contracts (if any) are made in the period in which such losses are determined. Changes in job conditions, job performance and total contract values may result in revisions to costs and income and are recognized in the period in which the revisions are determined.



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OFF-BALANCE SHEET ARRANGEMENTS

We do not have any off-balance sheet arrangement or commitment that will have a current effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to investors.