Pink Sheets: Magplane Technology Inc. (MAGP) news stock charts
Magplane Technology Inc. (MAGP/MAGP.PK) Penny Investment Summary:
Magplane Technology, Inc. develops magnetically-levitated and propelled transportation systems for freight and passengers in the United States. The company develops the Magplane system, a magnetic levitation transportation system that offers significant advancements over other high-speed trains and light-rail transit systems. The company was founded in 1995 and is based in Bedford, Massachusetts.MAGPLANE TECHNOLOGY INC (MAGP:OTC)
Snapshot of MAGPLANE TECHNOLOGY INC (MAGP)
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OPEN
$0.03
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PREVIOUS CLOSE
$0.03
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DAY HIGH
$0.03
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DAY LOW
$0.03
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52 WEEK HIGH
12/15/09 - $0.05
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52 WEEK LOW
11/17/09 - $0.01
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MARKET CAP
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AVERAGE VOLUME 10 D
4.3K
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EPS TTM
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SHARES OUTSTANDING
0.0
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MAGP Does Not Pay Dividends
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P/E TTM
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Key developments for MAGPLANE TECHNOLOGY INC (MAGP)
Magplane Technology Inc. and its Inner Mongolia Joint Venture team have completed the testing phase of the demonstration system and finalized technical planning for construction of the fully functional 1 km 'pre-production status' system. Under the terms of agreements with the JV, Magplane will receive $2 million for continued design and management services through this next phase of the MagPipe development that will enable construction of a deployed commercial system in 2010. The 1km line demonstration design has been expanded to include numerous land topography features such as grade climbs and curves to simulate and encompass typical commercial installations. Using components to be produced for the commercial systems, the 1-km system will be fully tested to verify operation, reliability, and maintainability requirements under real-world conditions including continuous operation and power loss scenarios. The Inner Mongolia Joint Venture has completed the first manufacturing building (100m x 40m) on its 32 acre site in the Baotou Hi-Tech Industrial Development Zone. The building, which includes two 20 meter overhead cranes that travel the length of the building, will initially be used to manufacture the 1-km system and then the first commercial systems.
Magplane Technology Inc. has demonstrated and verified the fundamental operation of the MagPipe system in Baotou, Inner Mongolia (IM) representing significant progress towards the installation of the MagPipe commercial line in Inner Mongolia. With the successful demonstration, the Inner Mongolia Joint Venture (JV) ratified its first commercial contract for installation of a pipeline system due for delivery in 2010. The JV/MTI team demonstrated operation of the MagPipe system on a short oval demonstration track at the facilities in IM. The demo system comprises MTI proprietary magnetic arrays designed and assembled in the U.S., the MagPipe control system designed by MTI, and the MagPipe pipe modules, motor coils, capsules, and suspension track fabricated and assembled by the JV engineering team in China.
Magplane Technology Inc. financial resources
MAGP Competitors
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Industry Analysis
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Pink Sheets: More Recent Financial News About Magplane Technology Inc.
Magplane Technology to Receive $2M for Commercialization of the MagPipe System, MagPipe Manufacturing Building Completed in Inner Mongolia
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Magplane Technology to Receive $2M for Commercialization of the MagPipe System, MagPipe Manufacturing Building Completed in Inner Mongolia
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