FORM 6-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
-----------------
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 or 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
FOR August 31, 2007
DYNAMOTIVE ENERGY SYSTEMS CORPORATION
(Exact name of Registrant as specified in its charter)
-----------------
Suite 230-1700 West 75th Avenue
Vancouver, BC
Canada V6P 6G2
(604) 267-6000
(Address of principal executive offices)
-----------------
[Indicate by check mark whether the registrant files or will file
annual reports under cover Form 20-F or Form 40-F:]
FORM 20-F X FORM 40-F
--- ---
[Indicate by check mark whether the registrant by furnishing the
information contained in this form is also thereby furnishing the
information to the Commission pursuant to rule 12g3-2(b) under the
Securities Exchange Act of 1934.]
YES NO X
--- ---
[If Yes is marked, indicate below the file number assigned to
the registrant in connection with Rule 12g3-2(b):] Not applicable
FORM 51-102F3
MATERIAL CHANGE REPORT
Item 1 Name and Address of Company
---------------------------
DynaMotive Energy Systems Corporation (the "Issuer")
230-1700 West 75th Avenue
Vancouver, BC V6P 6G2
Tel. (604) 267-6013
Item 2 Date of Material Change
-----------------------
August 30, 2007
Item 3 News Release
------------
Issued August 30, 2007 and disseminated via Business Wire.
Item 4 Summary of Material Change
--------------------------
VANCOUVER, BC, Canada, August 30, 2007 - Dynamotive Energy Systems
Corporation (OTCBB:DYMTF) announced today that its net loss for the
second quarter ended June 30, 2007 was $3.5 million, or $0.02 per
share, compared with a net loss of $3.8 million, or $0.02 per share for
the same period a year ago. The lower overall loss represents more
activity in almost all business areas, partially offset by lower non-
cash charges.
"During the second quarter and since it ended June 30th, the Company
continued to make significant progress as we ready our new modular 200
tonne-per-day Guelph, Ontario, BioOil(R) biofuel plant for full
operation," commented Andrew Kingston, Dynamotive's president and chief
executive officer. "Recent business developments which will help pave
the way for the company's future growth include reaching a letter of
agreement with Mitsubishi Corporation and deepening our relationship
with the Consensus Business Group through the merger of a jointly held
affiliate into Dynamotive."
Item 5 Full Description of Material Change
-----------------------------------
5.1 Full Description of Material Change
VANCOUVER, BC, Canada, August 30, 2007 - Dynamotive Energy Systems
Corporation (OTCBB:DYMTF) announced today that its net loss for the
second quarter ended June 30, 2007 was $3.5 million, or $0.02 per
share, compared with a net loss of $3.8 million, or $0.02 per share for
the same period a year ago. The lower overall loss represents more
activity in almost all business areas, partially offset by lower non-
cash charges.
"During the second quarter and since it ended June 30th, the Company
continued to make significant progress as we ready our new modular 200
tonne-per-day Guelph, Ontario, BioOil(R) biofuel plant for full
operation," commented Andrew Kingston, Dynamotive's president and chief
executive officer. "Recent business developments which will help pave
the way for the company's future growth include reaching a letter of
agreement with Mitsubishi Corporation and deepening our relationship
with the Consensus Business Group through the merger of a jointly held
affiliate into Dynamotive."
"Initial revenue from the Guelph plant and the expanded West Lorne
operation will commence in the near future, and our business
development position will improve significantly as we enter operating
status," Mr. Kingston noted. "As we approach operating status at these
two plants, international interest is growing, with advanced
development activities in Europe and South America, and accelerating
project development activity occurring in the United States."
Concluding his remarks, Mr. Kingston said: "With the continued
volatility and insecurity of world energy markets and ever greater
attention being paid to environmental issues, Dynamotive is also well
positioned to be a leader in the Biomass to BioOil sector of the
alternative energy market."
Recent Dynamotive Highlights:
- - Signed a detailed Letter of Agreement with Mitsubishi Corporation to
explore expanded relationships
- - Consensus Business Group converted their biomass JV interest into
Dynamotive equity and appointed a director to Dynamotive's Board
- - Development of up to six plants in Corrientes, Argentina continues
- - Commissioning and permitting of first 200 tonne-per-day (TPD) plant
at Guelph, Ontario nears completion
- - West Lorne expansion nearing mechanical completion, commissioning to
begin late next month
- - Initiated tests in Iowa to use Dynamotive's biochar for soil
enrichment and crop productivity enhancement
Summary Financial results are presented as follows:
Unaudited Consolidated Statements of Loss
(expressed in U.S. dollars)
Three Months Ended Six Months Ended
June 30, June 30,
2007 2006 2007 2006
(restated) (restated)
$ $ $ $
- ---------------------------------------------------------------------------
EXPENSES
Marketing and business 348,524 357,041 694,752 929,639
development
Research and development 616,446 1,055,022 1,510,167 2,075,872
General and administrative 2,576,956 1,947,055 4,670,695 3,497,973
expenses
Depreciation and Amortization 34,374 32,090 64,580 55,600
Interest expense 2,606 153,051 2,659 422,353
Exchange (gain) loss 54,322 346,355 37,679 247,119
- ---------------------------------------------------------------------------
3,633,228 3,890,614 6,980,532 7,228,556
- ---------------------------------------------------------------------------
Loss from operations (3,633,228)(3,890,614)(6,980,532) (7,228,556)
Interest and other income 36,116 134,765 115,350 174,813
- ---------------------------------------------------------------------------
Loss before non-controlling (3,597,112)(3,755,849)(6,865,182) (7,053,743)
interest
Interest and other income 94,876 - 123,850 -
- ---------------------------------------------------------------------------
Loss for the period (3,502,236)(3,755,849)(6,741,332) (7,053,743)
===========================================================================
Weighted average number
of common shares
outstanding 185,378,751 151,402,079 181,511,983 141,707,917
===========================================================================
Basic and diluted loss
per common share
Share for operations
for the period 0.02 0.02 0.04 0.05
===========================================================================
5.2 Disclosure for Restructuring Transactions
N/A
Item 6 Reliance on Subsection 7.1(2) or (3) of National Instrument 51-102
------------------------------------------------------------------
Not applicable
Item 7 Omitted Information
-------------------
Not applicable
Item 8 Executive Officer
-----------------
Contact: Andrew Kingston, President & CEO
Telephone: (604) 267-6013
Item 9 Date of Report
--------------
August 30, 2007
DYNAMOTIVE ENERGY SYSTEMS CORPORATION
(signed) "Andrew Kingston"
----------------
Andrew Kingston
President & CEO
DYNAMOTIVE ENERGY SYSTEMS CORPORATION
News Release: August 30, 2007
DYNAMOTIVE PROGRESSES BIOFUEL PLANTS DURING 2ND QUARTER PLANT AND
BUSINESS DEVELOPMENT ACTIVITIES ADVANCE
VANCOUVER, BC, Canada, August 30, 2007 - Dynamotive Energy Systems
Corporation (OTCBB:DYMTF) announced today that its net loss for the second
quarter ended June 30, 2007 was $3.5 million, or $0.02 per share, compared
with a net loss of $3.8 million, or $0.02 per share for the same period a
year ago. The lower overall loss represents more activity in almost all
business areas, partially offset by lower non-cash charges.
"During the second quarter and since it ended June 30th, the Company
continued to make significant progress as we ready our new modular 200
tonne-per-day Guelph, Ontario, BioOil(R) biofuel plant for full operation,"
commented Andrew Kingston, Dynamotive's president and chief executive
officer. "Recent business developments which will help pave the way for the
company's future growth include reaching a letter of agreement with
Mitsubishi Corporation and deepening our relationship with the Consensus
Business Group through the merger of a jointly held affiliate into
Dynamotive."
"Initial revenue from the Guelph plant and the expanded West Lorne operation
will commence in the near future, and our business development position will
improve significantly as we enter operating status," Mr. Kingston noted. "As
we approach operating status at these two plants, international interest is
growing, with advanced development activities in Europe and South America,
and accelerating project development activity occurring in the United
States."
Concluding his remarks, Mr. Kingston said: "With the continued volatility
and insecurity of world energy markets and ever greater attention being paid
to environmental issues, Dynamotive is also well positioned to be a leader
in the Biomass to BioOil sector of the alternative energy market."
Recent Dynamotive Highlights:
- - Signed a detailed Letter of Agreement with Mitsubishi Corporation to
explore expanded relationships
- - Consensus Business Group converted their biomass JV interest into
Dynamotive equity and appointed a director to Dynamotive's Board
- - Development of up to six plants in Corrientes, Argentina continues
- - Commissioning and permitting of first 200 tonne-per-day (TPD) plant
at Guelph, Ontario nears completion
- - West Lorne expansion nearing mechanical completion, commissioning to
begin late next month
- - Initiated tests in Iowa to use Dynamotive's biochar for soil
enrichment and crop productivity enhancement
Summary Financial results are presented as follows:
Unaudited Consolidated Statements of Loss
(expressed in U.S. dollars)
Three Months Ended Six Months Ended
June 30, June 30,
2007 2006 2007 2006
(restated) (restated)
$ $ $ $
- ---------------------------------------------------------------------------
EXPENSES
Marketing and business 348,524 357,041 694,752 929,639
development
Research and development 616,446 1,055,022 1,510,167 2,075,872
General and administrative 2,576,956 1,947,055 4,670,695 3,497,973
expenses
Depreciation and Amortization 34,374 32,090 64,580 55,600
Interest expense 2,606 153,051 2,659 422,353
Exchange (gain) loss 54,322 346,355 37,679 247,119
- ---------------------------------------------------------------------------
3,633,228 3,890,614 6,980,532 7,228,556
- ---------------------------------------------------------------------------
Loss from operations (3,633,228)(3,890,614)(6,980,532) (7,228,556)
Interest and other income 36,116 134,765 115,350 174,813
- ---------------------------------------------------------------------------
Loss before non-controlling (3,597,112)(3,755,849)(6,865,182) (7,053,743)
interest
Interest and other income 94,876 - 123,850 -
- ---------------------------------------------------------------------------
Loss for the period (3,502,236)(3,755,849)(6,741,332) (7,053,743)
===========================================================================
Weighted average number
of common shares
outstanding 185,378,751 151,402,079 181,511,983 141,707,917
===========================================================================
Basic and diluted loss
per common share
Share for operations
for the period 0.02 0.02 0.04 0.05
===========================================================================
About Dynamotive
Dynamotive Energy Systems Corporation is an energy solutions provider
headquartered in Vancouver, Canada, with offices in the USA, UK and
Argentina. Its carbon/greenhouse-gas-neutral fast pyrolysis technology uses
medium temperatures and oxygen-free conditions to turn dry, waste cellulosic
biomass into BioOil(R) for power and heat generation. BioOil(R) can be
further converted into vehicle fuels and chemicals. The final stages of the
commissioning process at the Guelph plant and the reconstruction of the West
Lorne plant may be seen by viewing photographs regularly posted on the
company's website at www.dynamotive.com
Contacts:
Nathan Neumer, Director, Communications, 604-267-6042
Switchboard (604) 267-6000
Toll Free (North America) 1-877-863-2268
Fax (604) 267-6005
Email: info@dynamotive.com
Website: www.dynamotive.com
Forward Looking Statement
Statements in this news release concerning the company's business outlook or
future economic performance; including the anticipation of future plant
start-ups, partnerships, consortiums, teaming agreements, government
assistance, other anticipated cash receipts, revenues, expenses, or other
financial items; and statements concerning assumptions made or expectations
as to any future events, conditions, performance or other matters, are
"forward-looking statements". Forward-looking statements are by their nature
subject to risks, uncertainties and other factors which could cause actual
results to differ materially from those stored in such statements. Such
risks, uncertainties and factors include, but are not limited to, changes in
energy prices, availability of capital, and the Company's ability to access
capital on acceptable terms or any terms at all, changes and delays in
project development plans and schedules, customer and partner acceptance of
new projects, changes in input pricing, competing alternative energy
technologies, government policies and general economic conditions. These
risks are generally outlined in the Company's disclosure filings with the
Securities and Exchange Commission.