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I am not to concerned as the developments on EESD and Plastic tech still belongs to Edison. They just need to get this transfer done asap and get Manufacturing up and running. Some might be selling on the RMS news but this all started before he got involved. He did help with the efficiency of the EESD which was a huge help. Now they need to get it out in the world.
I do expect some News releases with the transfer though, it only makes sense to hold them back until that happens.
Personal communication with him. He was frustrated at the pace of research at both companies.
I sold my position last week at .27. It was small anyways. Too many red flags. RMS resigning was my final straw. Management has not been transparent at all, especially about transferring your shares to Edison. Not worth my time. Good luck to longs still in this.
Yes, that looks correct, he resigned from both svlt and edison, from what I heard as well, why did he resign from edison as well I would like to know as well, this is a surprise to me...
Happydownsouth, please post a link showing where RMS resigned from the Edison Board.
Where did you hear that?
He has resigned from both SVLT and Edison boards, but I don't know why. However, I don't think this is good news. Gary hasn't posted here in ages. It would be good to hear from him and hear his vision with all these changes.
You cant be on the board of both.
It was announced on the 27th. link here
http://archive.fast-edgar.com//20160927/APZ2422CZC2F6TU2222F2ZZ22RIQFZ27Q282/
I think it is all part of the exchange, the contact ph # on the Edison site is Gary's number at SVLT.
which board sunvault or edison? and where did you hear this? Its really strange to hear this, I did not see any news on it, can you share the source?
Do you have a link to this news?
I have not found anything to verify that RMS has resigned from the SVLT board.
Does anyone have any information as to why Robert Murray Smith resigned from the board? How does this relate to the Edison deal as he is still involved there?
Interesting, I both Emailed and called SVLT a few days ago and have not heard back.
I also sent the Transfer Agent and Email. The TA responded promptly and suggested that the details of this transaction have yet to be worked out. They recommend that I do not withdraw my shares until these issues have been resolved......
The process to transfer the shares to Edison is extremely complex. Anyone have some news on a simpler method?
I have Emailed SVLT, but have yet to hear back.
Thanks
yes that is correct, management of svlt is a joke, they do not keep the financials up to date, they never communicated anything properly to shareholders, and DMS instead of commercializing the EESD which he claims to have, he plays with seaweed video on youtube, this is really bad imo, they do not deserve investors money, no credibility, all they done so far, prove that they are a joke
SVLT should hire this student who built an electric car when not going to school or working, and were able to complete the conversion in about a year when they had free time on nights and weekends. Seems a lot faster than what they are doing at SVLT.
https://electrek.co/2016/09/19/mechanical-engineering-student-converts-a-1969-vw-karmann-ghia-into-an-all-electric-classic/
I have also submitted the subscription agreement for my shares, but you seem to be in better communication with the company than most of us. Can you please continue to keep the board informed when you get any new information? Thank you.
The Stock Transfer Co just told me in an email that they are still figuring out the easiest way for owners of SVLT to transfer their shares. They will let us know.
I have sent in the Subscription Agreement for mine already but that just lets them know our interest, it does not activate anything.
You can also email Olga directly at oschel@edisonpowercorp.com
Email Gary, he will get Olga to send stuff out.
guys i have my shares in svlt at Ameritrade. I login to my account and see them etc but have no idea what I am supposed to do? I have gotten nothing in the mail or any communication. Thanks for any help!
That is way over my pay grade. I suggest you talk with your broker, mine is Schwab.
FYI I have heard today that the Edison Share count is expected to be 40 mill to 50 mill not the 60 mill that I heard earlier.
Speedo, thank you for the response. One concern that I have is that my shares are in IRA and my understanding is that to do the swap I will essentially have to withdraw the shares which means tax penalties. If I leave my shares in the account, wouldn't Edison have to buy my shares if their intent is to take over SVLT?
ok i will take it back, just didn't want people to be fooled here, if they indeed to edison at 60mil shares, than svlt holders got really screwed
I am always surprised by the way some people use a forum like this to throw insults at folks who they don't know, wonder if that would happen face to face, I hope not.
I was just answering a question from another person, in a civil way.
Yes the exchange is not good from my eyes either especially that the market cap for Edison will be about 3 times higher than SVLT. But it is what we have. It does not remove the possibilities for their tech and the impact it might have. I do agree with what you posted but lets try to be polite, if you just want to insult people then get into politics.
I do not belong to BreakPointTrade either.
And even 30mil float in edison is a huge number, since based on what they say out of current 140mil float in svlt, approximatley 60mil they said before is in dispute and will be cancelled, which leavse approximatley 140-60= 80mil valid shares of svlt. Now you convert to 6.5 split and you should get about 12 mil equivalent in edison, plus add few mills of debentures and you should be around 15mil max 20mil in edison, at 60mil as you claim this is a true rippage...
"The one good thing is that the total # of shares and the Float will be much smaller in Edison than it is with SVLT which is currently around 139 mill. Edison sounds like it will be around 60 mill."
wow how smart is it!!! the number of shares will decrease what a joke. It seems like you have zero clue of what is going on. First of all it's not like you will exchange your shares at .46 and the stock will automatically go up to $3, its a split of more than 6/1 (3/.46), so the value will be the same, if you had $10k in svlt you will have $10 worth in edison, not like your $10k will magically multiply by 6.
Second, the shares float will be much lower, are you kidding me? Based on what you saying if it will be around 60mil in edison, again its a huge rip off to investors. Just multiply the 60mil by the reverse split amount ~6.5, then you multiply the 60mil*6.5 and you have 391MILLION equivalent shares in SVLT at current price, before you write something, please use your brain! To make reasonable sense they should have about ~22mil shares in edison. If you take the current 140mil float and divide by 6.5 ($3/.46) you should get equivalent of 22mil shares plus you might add another 3-5mil for debenture holders, which in total edison float should be about 25mil max to 30mil, everything more than that, you are getting screwed again by them, which i guess is ok based on what kind of investors are commenting here...
Seems like BreakPointTrade has some idea of what is happening based on the comment, but again I heard they are the once who put most of you in this mess, so good luck!
From what I understand Edison will be trading at the same time as the transfer, But I have asked Gary for Clarification on that ie: symbol, listing etc.
He told me months ago that if Edison shares were at $3 there will be a reason. I can only hope they will release some news of some sort coinciding with Edison going public. Sounds like they have a "ghost" Company which is where they get the listing stock from?
The other reason that I know of is something I don't want to disclose on a public forum, but I am confident it is being done in our best interest.
The one good thing is that the total # of shares and the Float will be much smaller in Edison than it is with SVLT which is currently around 139 mill. Edison sounds like it will be around 60 mill.
Speedo, why doesn;t Edison power become a public company and simply by out SVLT? Why are we instead being asked to request to swap our SVLT shares with Edison shares? Any insight?
I would just send an email to Gary and ask him. He gave me about 30 minutes on the phone last friday. But I don't know about Canadian shares..
I'm not sure but I think they are just dissolving sunvault shares and shutting it down. They don't need to trade them.
Does anyone have an idea of what will happen with the shares for Canadian holders? We can't do anything with them because there's a CTO still standing. My understanding is this means there will be no option to swap the shares for all canadian holders because they can't be moved.
Additionally, maybe I'm missing something, because I keep seeing talk about Edison and Sunvault as two different companies. Didn't Sunvault create Edison? I always thought they were the exact same thing. Any clarification would be helpful.
http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=10877027-1061-369131&type=sect&TabIndex=2&dcn=0001477932-15-005518&nav=1&src=Yahoo
"Future Business Operating Segments
Our Company has developed privately held independent incubation companies to begin to enter into areas of cash flow that can be added to Sunvault’s group of companies by acquisition as we mature these companies forward. The companies are as follows:
1.
Edison Power Company – with domains – Edison Power Corp .com, Edison Power Corp.ca, Edisonpower.ca – Edison Power Company is being launched to sell power into deregulated power markets in North America.
2.
Aboriginal Power Corp – with domains – Aboriginal Power Corp.com, Aboriginal Power Corp.ca and apcorp.ca. Aboriginal Power will sell power and natural gas and other services into the aboriginal marketplace.
3.
Edison Battery – As the Company develops its energy storage device – Edison Battery is an excellent brand for the product."
This was from August 2015. I look forward to any thoughts or feedback.
Thanks
Agreed, Edison will have all the marbles
you would be a fool not to, SVLT will be worthless over time. Sure maybe Edison won't pan out either but at least you have a chance and they are offering you a premium for your shares at 45 cents, but staying in SVLT then you are guaranteed to lose it all with no chance.
Is anyone going for the offer to exchange SVLT shares for Edison shares? What happens to the SVLT shares if they are not exchanged, as Edison clearly wants to take ownership of SVLT?
I'm not sure. Mine are in my Schwab acct so these are things we need to address. I also am not sure how the shares of Edison are valued at $3 when they aren't listed yet. Gary told me earlier when they are listed at $3 there will be pr's to justify that price. Does that mean they are close to a big announcement?
Speedo I did receive the paperwork, and it says the following:
Your subscription MUST BE ACCOMPANIED BY the Certificate(s) representing your common shares of Sunvault Energy Inc. (the “Consideration Shares”), duly executed and endorsed in blank (or accompanied by duly executed stock powers duly endorsed in blank) in each case in proper form for transfer, with signatures notarized or guaranteed,
I do not have any stock certificates, all my SVLT shares are in an IRA, administered by Fidelity. What is your understanding of the above statement? I understand it to mean that I need the certificates in hand, and that I need to mail them to Edison.
Looks like you need to take action. Go to the SVLT site and sign up for emails and/or call them to get the paperwork.
How will it work? I have my shares in an IRA, will my share be converted automatically or do I need to take some action?
Yes I've got an email for mine too. They want to convert to Edison stock at a value of .45 sunvault.
Yes, letters went out to SVLT stockholders on the Edison acquiring stock from existing holders.
There's so many other stocks moving right now, and its not worth keeping dead money in this. Just keep a few shares to track it and move on. That's my opinion and what I've done.
Yes it's odd... In the video he stated that he did everything by hand and it took him a very long time to assemble that together, by now you would think they have done some more proactive work and try to assemble a small printing line (which he was claiming to do during christmas time). Very strange how they approach things, always it looks like they experiment something instead of really trying to mind blow the industry and bring shareholder's value. Also, he claimed it charged all night, which I thought it supposed to charge at a fraction of a regular LI battery.
Im happy to see he made a larger battery and it works. Still I wonder if they have any being made at a factory on a larger scale. It seems he had to print it on his own, by hand, on 500 sheets of paper. What? They didn't have any EESD's available to use? Seems odd.
Kuskuk, what is your understanding of the relationship between SVLT and Edison Power? Is an investment in SVLT as good as an investment in Edison?
kuskuk - are you a note holder? I assume so
insert-text-here
new video showing a large EESD
These guys either need to get organized and get these financials done or else get in someone else to do it for them. All the way back to 2014 they have issues.
http://cto-iov.csa-acvm.ca/ArticleFile.asp?Instance=101&ID=103D7FC6B3D340C399500D988653657E
http://cto-iov.csa-acvm.ca/ArticleFile.asp?Instance=101&ID=EA3EFDEB9B084B18BD8669C5B4C44F4B
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