Revocation of Registration Under Exchange Act
- The Company has consented to the cancellation of the registration of the Company’s Entech Solar’s common stock under the Securities Exchange Act of 1934. The consent was delivered to the Securities and Exchange Commission in June 2014 and the Company has been informed that the deregistration could take a number of weeks or months to process. Once the common stock is deregistered, it will no longer be publicly traded and any transactions that may occur will not be reported on any public reporting system. Any holder of the Company’s securities seeking to effect a transfer of such securities must comply with applicable state and federal securities laws governing such transfers. While the Company continues to pursue the commercialization of its skylight product, holders of Entech’s stock will not be able to sell Entech’s common stock through brokers, and may be unable to locate any buyers willing to purchase the stock. If the Company is able to successfully commercialize its products, it is possible that the Company would seek to re-register the common stock under the Exchange Act, however, given the Company’s historic inability to commercialize its products and its lack of capital, it is unlikely that the common stock will again be publicly traded.
- DUE TO A LACK OF FUNDS, AND THE LACK OF COMMERCIAL SUCCESS IN MARKETING ITS PRODUCTS, THERE CAN BE NO ASSURANCE THAT ENTECH WILL CONTINUE AS A GOING CONCERN. INVESTORS HOLDING ENTECH SECURITIES MAY SUFFER A TOTAL LOSS ON THEIR INVESTMENT, DUE TO THE COMPANY’S FAILURE TO ACHIEVE ANY DEGREE OF COMMERCIAL SUCCESS.
- The Company continues to conduct limited R&D work related to its skylight products.
- As of May 1, 2014, the Company had three paid employees.
- Due to its limited resources, the Company undertakes no duty to update this website to reflect future developments in its business.
- The Quercus Trust has continued to provide the Company with limited financing to allow the Company to seek to exploit its products and/or technology. The Company and Quercus Trust recently entered into an agreement which increased the amount the Company is authorized to borrow under a secured promissory note in favor of Quercus Trust. The agreement allows for but does not require Quercus Trust to loan additional funds to the Company.