NEW GLOBAL ENERGY, INC. (OTCMKTS:NGEY) Files An 8-K Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure
Solar Power Production: The solar systems on New Global
Energys Aqua Farming Tech farms have been performing above
expectations. For the year 2016, the system on the Companys Mecca
farm produced 324,262 kWh of electricity, some 117% of its
initial estimated production level. The system on the Companys
Thermal farm produced 397,212 kWh of electricity, some 108% of
its initial estimated production level, both providing power to
the Companys operations.
Additional Markets: Consistent with the Companys continued
effort to add markets for its Tilapia production it has been
testing a local direct marketing initiative. The project includes
the placement of a live fish display engineered to hold 150
pounds of live to pound tilapia into small retail food markets
which serve primarily a local Hispanic demographic.
The fish size, which is preferred by the Mexican market, is 1/2
to 3/4 pound which Aqua Tech has been wholesaling at an entry
price of $2.25 per pound to the market; The Company benefits by
the sales of smaller fish because they take less time to raise
and correspondingly less cost to raise them. With respect to the
farm’s general fish population, a certain percentage of the fish
are female, which generally grow to a smaller size – as the fish
are graded and moved from the nursery to the intermediate ponds
and ultimately to the grow out ponds, slower growing females can
be harvested for sale to this new market, leaving the faster
growing male fish to be sold to the Asian market at a higher
price per pound, when they reach the 1.5 pound range; The Company
believes that segmenting the market is efficient, that it saves
on production costs, accelerates revenue, while diversifying Aqua
Tech’s customer base and improving overall product demand.
Based on the performance of this initial display, Aqua Farming
Tech is planning to expand the program to several additional
store locations.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This correspondence contains forward-looking statements. Any
statements about our expectations, beliefs, plans, predictions,
forecasts, objectives, assumptions or future events or
performance are not historical facts and may be forward-looking.
These statements are often, but not always, made through the use
of words or phrases such as “anticipate,” “believes,”
“can,” “could,” “may,” “predicts,” “potential,”
“should,” “will,” “estimate,” “plans,” “projects,”
“continuing,” “ongoing,” “expects,” “intends” and similar
words or phrases. Accordingly, these statements are only
predictions and involve estimates, known and unknown risks,
assumptions and uncertainties that could cause actual results to
differ materially from those expressed in them. Our actual
results could differ materially from those anticipated in such
forward-looking statements as a result of many factors.
|
|
About NEW GLOBAL ENERGY, INC. (OTCMKTS:NGEY)
New Global Energy, Inc. is a sustainable agriculture and aquaculture company. The Company focuses on the use of technology and farming techniques. The Company focuses on the development of its Global Energy Plantation (GEP) using its Global Cell concept, which combines alternative energy production, sustainable agriculture and aquaculture. It intends to utilize non centralized solar panels to produce power for its own use and to feed into the power grid serving local power needs. The Global Cell is being designed to be a standalone operational cell where nothing enters the cell wall except sunlight, water and feedstock. It is designed for waste material to be used onsite for various applications, such as Fish tank effluent, including plant irrigation and fertilization; Aquaculture Products, such as Food Fish for Market and Fish Feed from processing wastes, and Value Chain Services, such as Grower Purchase Contracts, Management Planning and Operations, and Harvesting and Processing. NEW GLOBAL ENERGY, INC. (OTCMKTS:NGEY) Recent Trading Information
NEW GLOBAL ENERGY, INC. (OTCMKTS:NGEY) closed its last trading session 00.000 at 0.103 with 10,000 shares trading hands.