SOLM - Solomon Technologies- Penny- Penny Stock- Industrial Electrical Equipment

[Rich1]

There used to be a thread about this company here before (or was it at MM?). Anyway, I can't find it. So here's some quick info:

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Solomon Technologies, Inc., through its Motive Power and Power Electronics divisions, develops, licenses, manufactures and sells precision electric power drive systems, including those utilizing its patented Electric Wheel®, Electric Transaxle™ and hybrid and regenerative technologies as well as direct current power supplies and power supply systems requiring high levels of reliability and ruggedness for defense, aerospace, marine, commercial, automotive, hybrid electric and all electric vehicle applications.
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That's from their website: www.solomontechnologies.com

They are an SEC reporting company trading on the OTCBB (SOLM.OB).
The only other thing I know is that they have a pending lawsuit against Toyota for patent infringement.

And here's a PR released today:

Solomon Ships First 100kW System for Energy Market
Tuesday October 23, 1:20 pm ET

DANBURY, Conn., Oct. 23 /PRNewswire-FirstCall/ -- Solomon Technologies Inc. (OTC Bulletin Board: SOLM - News) announced today that it has delivered the first shipment of a $500,000 order to a major manufacturer of capital equipment targeting the rapidly growing solar industry. This high voltage, 100 kilowatt power conversion system is an adjunct to Solomon's Cobalt 15 product line, designed for the harsh working conditions endemic to industrial manufacturing and other OEM environments.

Read the entire PR on Yahoo:
http://biz.yahoo.com/prnews/071023/cltu115.html?.v=37

[Rich1]

Anyway, the main reason that I'm bringing up this company is that I was watching the trades today, and toward the end of the day there was a block of 500,000 shares at 0.483. That's $241,500 !!! Almost a quarter of a million $$$ all in one trade. Wow! I have never seen such a large amount traded anywhere before, not to mention a penny stock, and it got me curious.

So I was wondering if the more experienced traders here have seen such a large trade before on a penny stock. I had assumed that such large trades take place behind the scenes... So, wow! Who would do this? Also I can't tell if it was a buy or a sell.

[Rich1]

Anyone?
Who would do a trade of almost a quarter million dollars in the open market and WHY?
Seriously, I'm really curious.

Originally Posted by Zoom

Anyone?
Who would do a trade of almost a quarter million dollars in the open market and WHY?
Seriously, I'm really curious.

lol maybe someone with a lot of money that plays with much more than many of us play with?? also - took a quick look over at sec and looks like there has been a lot of insider activity going on ... didn't check em all out but first couple look like sells and then next couple seem to reflect some are acquiring much more... sec >> http://www.sec.gov/cgi-bin/browse-ed...ion=getcompany

[iamadog]

I have a emerging capital report that is promoting a undisclosed company. This pawn sized tech firm is a sure 10 bagger--- even if it didn't have the hybrid king backed into a corner. I do not know if what they are referring to is solm but it seems vey interesting when you read Jonathan Kolbers tease. Another thing to note . Power assisted sailboating { currently the companys "showcase" market}:cool: coincodence or not.

[Rich1]

I've had a few shares of this company for a long time - not much to make me pay much attention to it. But it seems to have reached the bottom, so I figured I'd add a few more shares.

If they can succeed in their battle against Toyota, I'm sure the stock will go nuts.
It would be huge!

Here are some recent PRs:


Solomon Completes Toyota Patent Appeal Arguments
http://biz.yahoo.com/prnews/080414/clm103.html?.v=59

Solomon Reports 2007 Financial Results
http://biz.yahoo.com/prnews/080424/clth105.html?.v=67


So they are now waiting for a decision on the appeal. Maybe Toyota decides to settle with them before that so the media doesn't hammer them for stealing American technology.

They reported a 250% increase in revenue for 2007 with a gross profit of 42% of revenue. And they recently increased their A/S to 500 million shares (possibly for additional acquisitions - in the past few months they have acquired TechniPower and Deltron).

Anyway, I figure this is worth buying, especially at these levels.

[aoles]

This one caught my eye on a scan, nice move today finishing up 32%. it looks like it found the bottom but some confirmation would be nice. tomorrow should be interesting to see what this does.

Here is the case decision...

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May 12, 2008 - 5:30 PM EDT

Solomon Announces Patent Case Decision

DANBURY, Conn., May 12 /PRNewswire-FirstCall/ -- Solomon Technologies, Inc. (OTC Bulletin Board: SOLM) today announced that the Court of Appeals for the Federal Circuit in Washington, DC generally affirmed the previously announced decision in the case of Solomon Technologies versus the Toyota Motor Corporation, and certain of its affiliates. The decision was rendered by a three judge panel of the full court.

Peter W. DeVecchis, President of Solomon commented, 'Although we are disappointed in the Court's conclusion we will review it in detail. We have made no determination as to further steps we might take in this case. We remain as determined as ever to defend our intellectual property fully and completely.'

Mr. DeVecchis continued, 'While a favorable decision in this matter would have certainly been welcome, our underlying business is solid, our acquisition strategy is working and we expect to continue implementation of our plan during 2008. Although there has been considerable interest in this case over the last two years, it has never been, and is not now, an element of our operating plans or growth strategy. We are continuing to look at new opportunities for our intellectual property, are actively pursuing accretive acquisition targets and generating positive and growing operating results in our Power Electronics division. As we continue to execute on our operating plan, we believe now, more than ever, that the alternative and renewable energy segments offer substantial opportunities for our existing products and new products that we have in the pipeline.'

As previously announced, Solomon brought suit against Toyota Motor Corporation, Toyota Motor Sales U.S.A. Inc. and Toyota Motor Manufacturing North America in the United States District Court for the Middle District of Florida, Tampa Division, on September 12, 2005, claiming infringement of Solomon's U.S. Patent Number 5,067,932, primarily relating to Toyota's use of the Hybrid Synergy Drive technology in its Prius and Highlander Hybrid vehicles. On January 11, 2006, Solomon filed an additional complaint against Toyota with the ITC seeking to exclude importation of the infringing technology. The action against Toyota and its affiliates in the United States District Court for the Middle District of Florida, Tampa Division, has been stayed pending resolution of the ITC action.

[Rich1]

Wow. It's been a long time since anyone posted abut this stock.
They went down all the way to about .002 because of a planned R/S for July. But they decided not to R/S, so the stock has been steadily climbing (now .023)

Recently they received a $700,000 contract from the military for their power conversion system. Hopefully, that leads to more and bigger government contracts.

Plus, their patent infringement case against Toyota is still ongoing. I'll have to look it up, but I think they have a court date in a couple of months.

[Rich1]

SOLM closed up 7.5%, but really didn't do much the whole day - just bounced between .021 and .023

Sorry, didn't get a chance to look up the date for their court date with Toyota.