Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Lot of L2 movement. Time to bust a move soon?
2s today, anyone?
Wow, 120mm more revenue generating assets!
Many are on LinkedIn. And you can message them.
I have confirmed that here will be some changes and updates coming on the personnel side. So all of those listed may not be current.
Indeed. Confirmed that things are coming shortly. Time to top off the holdings!
FOMO. Word is updates coming this or next week.
Sounds like you're about through with Wolfgang. Time for some answers?
No surprise. If you check the Nevada SOS, they are inactive and haven't filed anything since 2010, so the SEC is just cleaning up.
The deal PSPW had going with Greenworld Development back in 2012 clearly never materialized so they put the assets, IP, or whatever was of value into the Irish Ltd Grew Energy and left the stock GREW as a shell having no relation to 3Power.
Couple ask slaps and the 89.5k hasn't moved. They'll keep shorting until its too late...or until deep pocket friends buy 100k blocks :)
They’re cracking down on the bad ones, but doing so to minimize impact to the state budget, haha.
https://www.infrastruktura.gov.al/procesi-i-skanimit-bonati-nderprerje-e-kontratave-koncesionare-per-17-hec-e/
Media Declaration of Deputy Minister of Infrastructure and Energy Hantin Bonati:
The process of scanning the situation on the correctness of the implementation of contractual obligations by the beneficiaries of contracts for the construction of HPPs continued at a rapid pace, according to the plan drafted by the Ministry of Infrastructure and Energy.
In implementation of Order no. 47 and no. 48, dated 30.1.2019, "On verification of the implementation of the terms of concession contracts and contracts subject to the Council of Ministers Decision no. 822, dated 7.10.2015, on the hydro power sources ", all measures have been taken to address the problems identified to date, where most of the frequencies are:
- Failure to observe the procedural deadlines;
- Failure to comply with the legal requirements and criteria in the contracts and permits issued.
The National Agency for Natural Resources has already completed the process of monitoring and verifying the situation on the ground and the work has focused on documentary practice and coordination of attitudes with other institutions such as the Ministry of Tourism and Environment and the Water Resources Management Agency, to come to the final conclusions on the procedures and steps to be followed.
Following the scanning process, there have been 9 other cases of violation of contractual terms by the entities for which the procedure for unilaterally terminating the contract will be initiated.
Thus, to date, the total number of practices for which the unbundling process of concession contracts has begun goes in 17 cases.
As has been previously mentioned by the Ministry of Infrastructure and Energy, it is proceeding carefully to minimize the potential risks and financial implications for the State Budget.
Problems repeatedly identified during this scanning process are being analyzed in the function of re-engineering the entire procedure for concluding concession contracts, as well as for the process of monitoring and controlling the latter.
Nice, didn’t see that discrepancy before. Will have to look at this on a desktop, hard to see it all from mobile
Good reading, thanks. Can't say I understand all the scenarios but what you said makes sense.
Is that data for MMs or retail? Haven't looked at that before. When volume comes, seeing if we make the Reg Sho list will be a true tell!
I want everyone to benefit, not just myself. You're right, that's the biggest difference on why so many are still here including myself - what we can accomplish together rather than exploiting things just for our own advantage. Each has their own responsibility to decide to buy or sell obviously, but the principle is true that if you help enough people get what they want, you'll get what you want in the process. Because of this, a lot of the info I've looked for has "found me." And the one time I wasn't 100% transparent (telling Juljana I was recording our convo but NOT letting her know I planned to post it), it ended up biting me in the rear.
Yes I've been burned in the OTC before, I think most have if you're around long enough. "Trust, but verify" for a reason. However I feel the best way to earn trust is to sincerely give it, which has worked out favorably more often than not. Let us hope Falak & parties will feel the same way with shareholders before fuses run short on the "verify."
Shlomi's number and email have been posted on here several times, you could find the info if you really wanted to. I spoke with him already, back in Jan. And although it took a month or two longer than he thought, what he alluded to me with the Holland project did & is happening. I will give him credit for putting a financing package together while diluting the common stock into the ground. Even at 5 billion or a maxed 8 bil OS, .0001s seemed like a decent lotto play to me. However, I'm done messing around with this much dilution and have taken my 1s back out. Can always get back in if I want since it might be awhile til the 2s. Obviously hope I'm wrong for those who bought higher and a clear path for ROI becomes visible.
LOL that's why I try to explain my thoughts in their entirety so hopefully it would make sense to a new investor that hadn't done the hours of DD yet to get caught up.
Are you referring to why there was never an 8k filed for Falak's involvement or for the $1.3B chinese/albania water project from 2017?
The former - Falak's involvment was not a material event, he was already the largest shareholder.
The latter - some may think this was/is a separate deal, however, I believe it was a precursor to the current Shala concession they bid and won later that year in July, which they obviously 8k'd when they signed the contract in April '18 (material event). Two things to support this in my mind: first, the deal in question was found on an unofficial hk/chinese website that didn't delineate whether the $1.3b was the total contract worth or investment value, or if it was the total all parties involved or just his company's portion. There seemed to be multiple organizations mentioned so we don't know. Second, last year when I asked Heinl specifically about that deal and made it clear what I was referring to, he referred only to the 83.5MW Shala project, nothing more. Whether there was/is really another part of that deal yet to close, or it just fell through, we don't know. Again, there are other views on this that could be very plausible.
Is that a question because you'd like to know, or a suggestion because you know something?
Pull up the first document in the message below from the Albanian filings for 3Power Shala Sh.pk:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=142597170
Read it in conjunction with disclosure from the March 2018 10Q (the most recent one filed):
“Acquisition of Shala Energy Plc
In October 2017, the Company acquired 45% of Shala Energy Plc, a Republic of Ireland corporation. Effective October 20, 2017, ownership was increased to 75% by acquiring an additional 30% from Falak Enterprises, a related party. Shala Energy Plc was formed to assist with financing opportunities. Purchase price of the 45% and additional 30% has yet to be determined and no consideration has been transferred. Shala Energy Plc is a recently formed entity with no significant assets or liabilities.
On October 20, 2017 Shala Energy Plc formed a 80% owned subsidiary, 3Power Shala Sh.Pk, as an Albanian Special Purpose Vehicle (“SPV”) as required by Albanian law, to bid and to successfully acquire an 83.5MW Shala River Concession.”
I’ve mentioned previously that my opinion is that until 2015-2016, there was NOT much strategy other than Shala, which was on hold with the original concession, a corrupt government, and environmental issues. I cannot prove but do believe there were two things that occurred during ‘15-‘16 that may have led them to see an opportunity in PSPW for more than Shala: achieving majority shareholdings through “unplanned” deals, and some sort of fallout/litigation with Hani. I’m sure there are some reading this who can prove (or disprove) these things, but publicly will not. That is just the way it is and ok with me.
After that time period (and a canceled concession), they “got serious.” 2017 brought the Chinese/Albanian water conservation project (although we don’t the status or how it fits in), a clean Shala concession granted to the company then signed with the government in 2018 (with a deposit of $ millions), and delays in reporting quarterlies and annuals for unknown reasons, yet progress with Shala engineering studies and funding still continues.
You may be wondering that, if I can see all this, how can I question signs that may point to a reverse merge with Falak entities? My answer: I’m not convinced yet they really know what they want to do with it all, other than Shala. Which leads back to seeking more about their “why,” otherwise it’s all just assumptions based on our own paradigms. And all of this is just my opinion, obviously.
This site shows all their filings:
https://beta.companieshouse.gov.uk/company/07431306/filing-history
Heinl, AR, Mohammed, and Sharif’s names are littered all over the documents. Plus if you pull up the most recent “confirmation statement” of shares held, most are held to conceal identity but there are also shares held directly by Heinl and Mohammed for capital they’ve contributed. That’s how I knew Heinl put in the last $100k or whatever it was - his shares were the main difference between the last confirmation statement. Balkan is also listed there and Yipse Trading. “Vidacos” and “Beaufort” are majority of shares that are held by Falak/Heinl (and perhaps Dolman) through the LTDs on that minutes statement Enthalpy posted.
Plus look at the picture of Aardvak on the Menasat site from July 2017 when they acquired it...shows Sharif, AR, and Heinl, along with Dolman holding a sign.
All of this has nothing to do with PSPW, in my opinion, other than following the shares and money. Menasat itself is a money pit not generating anything useful, from what I can see.
My main concern at present is ensuring we've not become too close over the years and blinded by our own ideas. With so little communication, we've always had to put the pieces together on our own as to what happened and why. This can potentially make every little detail seem more important that it may actually be in reality.
Of course I believe this can work out to be as big or bigger than we think, but time has changed the opportunity: the return needed here to justify the opportunity cost of capital for years continues to rise exponentially.
Yeah I remember reading that, looked at it again recently. It does show ownership through LTDs. It also shows that they havent done anything with Menasat and paid £1.2mm for Aardvaark then promptly chopped it up when they couldn't use it. Plus if you view the free filings, you can see them continue dumping money into the company. This last round was directly from Heinl, I believe, looking at which LTD had the share increase. Menasat is not a great example of something these guys have monetized well (or at all), but yes, we can see they use the LTDs in this way.
Wow, I called him out on it but was hoping it wouldn’t actually happen. Emailed him in March asking how much more $ in notes to convert. Based on his answer, I told him by my calucations, if the news doesnt move the PPS up, converting at .00009/.0001 bumps him against the 8 bil AS. Asked what his plans were, and of course, no answer back. Low and behold, my math on the conversions are pretty much spot on, unfortunately.
Just answered my own question, had to look at my previous research haha. That first 20,498,000 were Rudana's portion and 19,607,000 were Hany's for putting the deal together. All or part of one of those share blocks is likely still tied up in litigation, and the other has likely been sold off into the float over the years. 20,000,000 (YellowFeather) and 20,000,000 (Ecoserve) are in Falak's possession. PAL as well. Add that 47 mil to whatever the running number of Falaks holdings were plus add Sharifs salary converted into shares and we get the 75-91% range. If any of Hany's or Rudana's shares have made it into Falaks hands, their total holdings are closer to the 91%. If they're in the float, Falak still owns 75% and the longs own almost all of the other 25%.
When either last year's 10k and/or this year's 10k is filed, we should know who's holding what.
The 20 mil eccoserve shares were separately disclosed in those 10ks. That 60 mil included the other 20 mil for Seawind, 19 for Viewpointe, and a remaining 19-20 that I'm not sure who was holding.
I'm with you. Its just impossible to know without disclosures.
Between July 13th 2012 and July 10th 2013, 58 million shares disappeared from Bank Julius Baer's holdings. I can account for 20 mil of those (the other of the 40 mil Seawind shares) but the remaining 38 were either (a. being sold into the float which is possible given the price decline from .42 to .02 over that time period and beyond (b. distributed among enough entities or individuals to avoid 5%+ disclosure, or (c. were/are being held in arbitration. Or (d. a combo of all of the above.
This is the challenge: what has been sold that we longs are now holding, what else has been bought back by Falak and is being held somewhere, and what is still in play pending litigation? Not looking for an answer so much as posing this to add to our discussion.
Depends on what your definition of acceptable proof is, lol. Enthalpy, Top, and I (and I’m sure others) have walked through the numbers. You can follow the shares under point #2 from this link: https://investorshub.advfn.com/boards/read_msg.aspx?message_id=142389749
Outside of the filings, the privacy of related parties remains top priority, and so hard proof has been translated into first-hand accounts which has been translated to acceptable public conversation on the board. And that’s where it will stay until the proper time.
Heinl may have been covering his behind and deflecting, but he told me my assumptions were wrong when I asked about the LTDs holding PSPW shares. It seems related to raising capital as you described, so I must be missing or misunderstanding...
Where we'll "agree to disagree" is the why, which translates to the privacy aspect. The upside of reversing merging entities is obviously the potential for a huge boost to the family's net worth.
But AR will be 74 soon, Mohammed at 51 had major health issues last year, Sharif is 69, Heinl will be 75 in May...I'm not saying age means you can't accomplish things, but do these guys really have what it takes to build a "privacy shield" of some sort and then have the clatter of investors & regulators constantly swinging and hacking at it, knowing full-well that the privacy they so deeply want to protect could actually backfire and decrease their net worth if the market doesn't agree? At this point in their lives, I don't see them taking that risk.
I'm concluding that its not about the money at all, rather, philanthropic - adding to their legacy in a different way. I.E. the unending commitment to Albania for what we see as illogical reasons (because we dont know why), the non-profit glowparks for people to enjoy (sharing happiness), being advocates for growth of certain sports in the UAE (that have so deeply impacted them).
I know I'm making A LOT of assumptions that could totally be wrong. However this is my assimilation of the current evidence without fully understanding the WHY.
Yes, the circumstantial evidence is there: 75-91% share ownership (which I've helped confirm), multiple LTD's (that you've extensively researched), year long delay in reporting. It does seem complicated. We are in agreement on the control aspect, I am not disputing these things.
No worries, I know you didn't. I feel I have a responsibility to share what I find and am thankful to have had as close to a direct line to the company as I have over the last year, even if its not been through "normal" channels. Let's see what they "tell us" over the next few months :)
The caveat, like Wakl pointed out, is that if this thing is ever going to get as big as we all want it to, they're going to have to change SOMETHING. That's partially why speculation on reverse merging Falak's entities into PSPW is so far outside of current reality at the present, in my opinion - their privacy trumps EVERYTHING at this point, until they show us otherwise.
Certainly good points to consider. While I haven't researched specifics on Islam as it relates to privacy and the religion like you have, I brought it up to Sharif. On multiple occasions I asked for feedback on privacy & communication, making it very clear that I will respect if they would prefer I not inquire or try to communicate with them. But all such communications were met with complete silence. Which is fine, although disappointing, and
hence why I have not ceased in my DD or inquiries. Some may take silence as the answer, but I don't. Even after I posted my conversation with Juljana having told her I was recording it, I sent Sharif a note...silence. If they wanted me to cease & desist, they've had ample opportunities to commincate it, but haven't.
Now, it is clear that after that update from Juljana, she was told to put a lid on it. I later apologized to her as it was not my intention to cause harm and she told me that I had not.
Since then, I've communicated with Heinl multiple times, just as I was instructed by Juljana to "allow the lawyers to handle inquiries from now on." He knows what he can and can't say, and has generally communicated promptly albeit short.
Long ago, I gave up the notion that we would EVER know what has truly been going on, and I'm fine with it. But that doesn't stop me from doing everything in my power to protect my investment.
Its only $1900. They're running our of shares while we wait. It would be fun to slap .018 for 140k and clear them out, but while we're waiting for fundamentals they'd just bring it back down.
If you're going to play the "scare game" to get more shares, you should probably work on honing your craft a little bit...
LOL I don't know if that will add to our credibility or not since we're still waiting ;)