Oakridge Global Energy Solutions Inc. (fka OGES)

[BatteryInvestor]

I have been investigating what is going on at Oakridge. I spoke with several former employees. The bottom line is this: the Palm Bay landlord is suing Oakridge for non-payment of rent and the building is padlocked. FPL has cut off electricity weeks ago. The Barbers keep issuing messages to their remaining employees that the operations will resume but the start date keeps being pushed back. Steve and Suzanna Barber quietly packed up their office belongings and removed them from the building before their "holiday" shutdown in Mid December. Then left for Australia.

The cell making equipment in the Palm Bay building is old and designed to manufacture small format pouch cells but Oakridge is marketing products assembled from cylindrical cells such as 18650s that they can't make.

More troubling is the fact that all the senior management and technical staff have either been let go or have found other jobs when paychecks stopped coming. All the people mentioned in the May 2016 press release about a new team are now working elsewhere. A quick LinkedIn search will confirm that. The only exception is Brendan Melling, the General Manager, who is Australian and had never worked in the US until 2016, let alone managed a company here. Former employees have stated that he did not have a green card or H1B visa or social security card while in Florida.

There is no way to restart operations with no engineers and only a dozen or so operators. Even if Precept was to find new investors, who will come to work for an outfit known for not paying employees?