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Posts Tagged ‘GCHK’

GreenChek Technology Inc. (OTCBB:GCHK), a leading globally focused provider of hydrogen based technology for mobile transportation and stationary power generation applications, would like to clarify our March 9, 2009 press release regarding manufacturing capacity in China. The company, through our manufacturing arrangement, has the capacity to manufacture 1050 units per month. The capacity to manufacture is important and allows for rapid growth, but we do not have orders for 1050 units per month at this point in time. The company does not have $50.4 million USD in purchase orders at this time. The $50.4 Million USD is an approximation based on future potential orders and manufacturing at full capacity.

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Stocks are moderately lower after news of an unexpected drop in retail sales

Wall Street is moderately lower after an unexpected drop in retail sales in March tested a notion that the economy is starting to find its footing.

The worries over the retail sales data also overshadowed better-than-expected profit reports from Johnson & Johnson and Goldman Sachs Group Inc.

Financial stocks showed some of the steepest losses even after Goldman’s results came in well ahead of what analysts had been expecting. Other financial companies are due to report quarterly results this week.

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GreenChek Technology Inc. (OTCBB:GCHK), a leading globally focused provider of hydrogen fuel cell technology, is pleased to report that the previously announced Internet marketing campaign designed to develop a North American distribution partner network has had a tremendous response. To date we have received applications from 93 distributors and are currently in the process of qualifying the candidates per region. Our initial goal was to establish 30 regional distribution partners in 2010, growing by 30 distributors annually to 90 regional distribution partners by the end of 2012. The estimated potential gross revenue from this project for 2010-2012 is $76.8 million. We believe we are well on our way to building a strong network of distributors in North America and look forward to having the majority of the regions qualified and up and running in the second quarter of 2010.

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Stocks turn higher as jobless claims rise, retail sales dip, and General Electric gets rating cut

Stocks turned higher in early trading Thursday after mixed economic data and a cut in General Electric Co.’s credit rating.

Standard & Poor’s said it is lowering GE’s top rating one notch because of problems at the conglomerate’s lending arm. GE — the oldest component in the Dow Jones industrials — was one of only six companies that had a “AAA” rating from S&P.

The move did not appear to surprise shareholders — GE shares managed to trade in positive territory after the ratings cut. But the move nonetheless pointed out to the market that even the most stable U.S. companies are on shakier footing in the current economic environment.

Government data showed the economy continues to deteriorate. The Labor Department said first-time claims for unemployment benefits rose to 654,000 from the previous week’s figure of 639,000, more than analysts’ expectations.

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GreenChek Technologies Inc., a leading globally focused provider of hydrogen based technology for mobile transportation and stationary power generation applications, is pleased to announced today the release of the ERD 2.0.

GreenChek has achieved advances in our hydrogen based emission reduction technology. The ERD 2.0 requires less maintenance and increases our ability to link units together in a modular format for greater efficiency. The ability to link units together contribute to further fuel cost savings and greater emission reduction, at the same time maintaining durability and overall quality to ensure that the systems have a long life. “We are very pleased with our ERD development,” stated Lincoln Parke, President of GreenChek. “This opens the door for GreenChek to implement its fuel saving and emission reduction technology to a wider range of vertical markets, in the future.”

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GreenChek Technologies Inc. (OTCBB:GCHK), a leading globally focused provider of hydrogen fuel cell technology for commercial transportation and stationary power generation applications, is pleased to announce that Tianjin Sherma in Tianjin, China, has committed a 4,000 square foot facility in Tianjin, China, for the manufacture of GreenChek’s ERD technology. Management anticipates that the new state-of-the art manufacturing plant will be operational in eight weeks.

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