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Your question is vague as to what you mean by "sunlogics." There are 3 distinct entities in the Sunlogics family.
1. Sunlogics Power Fund Management, Inc. ("SPFM")
SPFM is a Fund that will generate profit by owning and operating solar utility and equipment projects worldwide. As of May 13, 2011, Salamon Group and SPFM are one and the same. Salamon Group was an empty shell with no operations that SPFM reverse-merged into.
2. Sunlogics, Inc. ("Inc.")
Inc. constructs and operates solar utility and equipment projects worldwide for customers such as GM and Energizer. As of May 13, 2011, SPFM has an exclusive right of first refusal to purchase, own and operate all such projects built by Inc., based on a value to be determined by a third party appraiser. All SPFM needs is the initial financing to get started.
3. Sunlogics PLC ("PLC")
Inc. is 100% owned by PLC. PLC is who is running the show.
4. New Millenium Solar Equipment Corporation ("NMSEC")
NMSEC designs and constructs solar utilities and equipment worldwide. They are 100% owned by a group of investors who control $8 Billion in assets.
In My Opinion, As of July 12, 2011, the board members of NMSEC have officially been appointed the officers and directors of PLC. In other words, PLC is acquiring NMSEC and once said acquisition is complete, PLC will control that $8.0 Billion in assets and divert some or all of it to financing its own operations through SPFM.
If they apply $47 million of their assets to financing SPFM, that's $1.00 per outstanding share.
If they apply 10 percent of their assets to financing SPFM, that's $17.02 per outstanding share.
http://www.epv.net/default.html
http://www.gbrdirect.com/AvailableProducts.aspx?name=SUNLOGICS%20PLC&code=07461021&country=GB&product=GB_CH_CS
http://www.linkedin.com/search/fpsearch?fname=Howard&lname=Brodie&pplSearchOrigin=SEO_SN&trk=SEO_SN&csrfToken=guest_token&domainCountryName=
I am waaaay long here, and not to put a damper, but the 26m O/S was pre-merger. On May 13 Matvieshen received an additional 20m. Current O/S is 46m. That is still insanely low and does not affect the float: still at 14m - CRAZY low.
I am going to re-post one of my posts from last Monday.
If you think an initial $7.5 million from GM is a big deal, consider the possibilities once SLMU's parent company, Sunlogics PLC, completes its acquisition of a corporation with $8 Billion in assets under its control.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=65310117
The link is now dead. The article has been removed. GM is powerful indeed to have it taken down within an hour or two.
No matter. We all know what's coming.
I love you, Google Alerts!!
http://www.wxyz.com/dpp/news/general-motors-to-announce-major-investment-in-solar-power
General Motors to announce major investment in solar power
Posted: 12:23 PM
Last Updated: 1 hour and 9 minutes ago
By: Dennis Cutler
WZYZ - General Motors will announce on Thursday they're new initiative to put more solar power at their select dealerships.
The company will invest $7.5 million dollars in Sunlogics which is a global solar energy provider that specializes in designing, developing and operating commercial solar installations.
The investment provides Sunlogics with funds to establish their headquarters and open manufacturing facilities in Oakland County Michigan which would create 200 jobs and in Ontario, Canada that would create 110 jobs.
The investment in Sunlogics will help GM drive their use of solar energy, specifically to help implement solar installations at various GM facilities over next five years.
Right now GM facilities with power stations generate 30 megawatts of solar power. The goal is to double that power to 60 megawatts.
The funding will also accelerate the rollout of the Chevrolet Green Zone which gives dealerships the option to build Volt solar charging stations around the country.
Each station allows for the potential of up to 4,500 charges per vehicle annually. Dealers who join The Green Zone will have a canopy that generates enough electricity for up to 12 full vehicle charges per day and the unused solar power generated will be re-routed back to the grid to offset cost of power used by the dealership.
Another week come and gone. If you can't tell by now I am still holding and optimistic. But MAN this is annoying! Today is exactly 10 weeks since the last PR without a peep from the company.
uhhhh, that's a little misleading...
"exactly what SLMU got" is not "basically nothing." They got something: a company called Sunlogics Power Fund Management, Inc. We can debate the value of SPFM- you believe that is zero or close to it- longs disagree due to the potential of its exclusive right of first refusal to purchase all solar construction by Sunlogics, Inc.
But to say that SPFM is "basically, nothing" is just blind.
You are not listening to what I am saying. You make it sound like "these people" (I assume you mean the owners of NMSEC) are a bank that Sunlogics came to, hat in hand, groveling for money. So I will say it again: In My Opinion, "these people" are in the process of becoming Sunlogics. As in, Sunlogics is in the process of acquiring the "bank." In My Opinion, once that is complete, NMSEC's entire business model will be funding SLMU. You are totally ignoring the hard evidence that the former board members of NMSEC (e.g. Brodie, Small) have already been appointed directors and officers of Sunlogics PLC. It is happening.
If it doesn't (i.e. the Sunlogics PLC <-> NMSEC merger falls through) I will be the first to say "I stand corrected."
WWPW just received $15 million in non-dilutive financing to fund their renewable energy projects. Their S/P has been chillin at .30-.50.
SLMU has the exclusive right of first refusal to purchase all solar power equipment and utilities constructed by Sunlogics, Inc., a wholly owned subsidiary of Sunlogics PLC. All they need is financing.
IMO, Sunlogics PLC is in the process of acquiring New Millenium Solar Equipment Corporation, a company owned by investors who control $8.0 Billion in assets and build projects around the globe.
IMO, Sunlogics PLC will soon own and control NMSEC and will apply some of its assets to finance SLMU's purchase of Sunlogics Inc.'s solar equipment and utilities.
If they apply $47 million of their assets to financing SLMU, that's $1.00 per outstanding share.
If they apply 10 percent of their assets to financing SLMU, that's $17.02 per outstanding share.
So, yea. Potential.
You either haven't been paying attention or are just oblivious. We've heard the argument before, pal: Sunlogics PLC isn't really going to use the Fund it just spent a year creating. Nonsense. It is obvious they want to succeed because they stand to make more money than any of us.
Very soon the NMSEC investors you speak of WILL BE SUNLOGICS. As in, the board members of NMSEC have already been appointed Officers and Directors of Sunlogics PLC and Sunlogics PLC is going to acquire NMSEC. (In My Opinion).
You think they are just asses and bought SLMU and took on $87,000 in debt and created SPFM and merged SLMU and SPFM for a laugh? LOL. They did it because it is going to be profitable. They are a global manufacturer of solar power equipment and from now on they will always have at least one buyer of their products- a buyer with an exclusive right of first refusal based on, you said it, an objective third party appraisal.
As for financing, you don't present one shred of evidence supporting your claim of dilution. Many are eager to invest in renewable energy and the Fund is a unique publicly traded instrument to truly invest in "solar power" in a more general sense, as Sunlogics builds varied projects for third parties (such as, you know, GM and Energizer).
Totally misleading to refer to the 2010 assets and debts of Salamon Group Inc. as those of Sunlogics Power Fund Management, Inc. where the two did not merge until May 13, 2011.
Now, checking the audited financials of Sunlogics Power Fund Management, Inc, we find total assets on Dec 31, 2010 to be $1 in cash with $87,500 in liabilities.
heheh, I guess that means I don't have anything better to do...
Any reference to the financials of Salamon Group is worthless because you are right, prior to the merger it was an empty shell with no operations. Obviously the market cap is a loose estimation of the newly created company's value, not the old shell.
You apparently see it as MM being "in cahoots" with himself. Us longs see it as an obvious intent on the part of Sunlogics management to start moving its physical assets to Sunlogics Power Fund Management Inc. That was the whole point of creating the fund- to create a guaranteed buyer of its products.
Now the merger is complete but there's a problem: the Fund has no funds! It can't buy anything from Sunlogics Inc. without money. But rest assured, it has only been 2 months since the merger and it has actively been seeking financing. Further, it is strongly believed that within the last two weeks PLC merged with a company called New Millenium Solar Equipment Corporation, which is owned by investors who manage $8.0 billion in assets, and which recently purchased all the assets and intellectual property of EVP Solar, Inc., a global competitor in the solar manufacturing field. That's not speculation by the way: Howard Brodie (JD from Yale Law School and 15 yrs corporate finance/M&A experience), former VP and General Counsel at NMSEC, has been officially appointed the Secretary and Director of Sunlogics PLC and is publicly representing himself as the Executive VP and General Counsel
http://www.epv.net/default.html
http://www.gbrdirect.com/AvailableProducts.aspx?name=SUNLOGICS%20PLC&code=07461021&country=GB&product=GB_CH_CS
http://www.linkedin.com/search/fpsearch?fname=Howard&lname=Brodie&pplSearchOrigin=SEO_SN&trk=SEO_SN&csrfToken=guest_token&domainCountryName=
So after PLC merges with NMSEC, SPFM will potentially have a source for the financing it needs. If NMSEC investors give $80 million in initial financing- that is- one tenth of one percent of the assets under its control- that'd be just under $2.00 per outstanding share of SLMU.
And as you say, all MM has to do is agree to buy the assets from himself.
Right. I have no idea why I thought that was what you were suggesting. My bad.
back then it was a way to pump the stock in the hope that a pack of gullible newbies might jump in and run the price up so the current group of bagholders could unload.
V, are you seriously suggesting that the company was "pumping" the stock by sending a private email to an investor? Sure the recipient leaked it to iHub. But come on. You've been around the block and seen what real "pumping" is... wave after wave of bullsh!t press releases to get the stock price up. This company is doing the opposite- they haven't released any news whatsoever in the last 2 months.
Something is brewing and they are intentionally keeping it quiet until they think the time is right.
It is beyond me why this is an issue at all. No need to rely on his linkedin account when the company has sworn it to the SEC. Read the 8k:
Directors and Executive Officers .
The current directors and executive officers of the Registrant are as follows:
Name
Age
Position(s)
Michael Matvieshen
49
Director, President, Treasurer, Secretary and Chief Executive Officer
Charles Bryant (1)
54
Director
Jack DeLiddo (1)
54
Director
Sass Peress (1)
50
Director
John Salamon (2)
65
Director
(1) Charles Bryant, Jack DeLiddo and Sass Peress have been appointed as directors of the Registrant subject to the filing and mailing of a Schedule 14f information statement. They will begin service as directors of the Registrant on the 10th day following the filing and mailing of a Schedule 14f information statement.
* * *
Sass Peress, Director
Mr. Peress began his history in the solar industry in 1988 founding ICP Solar. In 1994 his automotive background permitted him to launch the first successful range of solar chargers for automobiles and recreational vehicles in partnership with major retailers worldwide. In 1996 he was amongst the first in the solar industry to use the internet to promote a range of solar powered solutions for everyday living. Mr. Peress works as VP Consumer Products at Sunlogics Inc. He graduated with Honors from Concordia University’s MBA International Business Program in Montreal, Canada.
And in talking about the past, certain people leave out certain details...like the fact that ICP Solar was in business for 20 years and profitable for 15. V makes it seem like Chuck, Sass, MM, and etc. want SLMU to fail. Get real. They stand to make a lot more money than any of us do if it succeeds.
YOU sir, are missing the point.
It is agreed. The owners of Sunlogics bought the SLMU shell. Your grand theory is they did so for no reason, that SLMU will not get financing or will permanently exercise its right of first "refusal", and generally that Sunlogics simply is not building the company it says it is far along the process of building.
You are trying to convince potential investors that the last 8 months of progress has been a hoax. Not so fast, people. In my opinion, they did create Sunlogics Power Fund Management Inc. for a reason: they think it is going to be extremely profitable. As of May 13 SPFM is a publicly traded company. It is hard to contest that objectively, Salamon Group Inc. had a very favorable share structure for a reverse merger. (14.7m float!)
But the shell is old news. The merger is done, fini. Sass always said 1. merger 2. financing. They have been silent for two months. They aren't doing nothing, they are doing something. Nobody knows exactly what. But the potential is there.
You are seriously not worth responding to.
GO SLMU!
You cannot LIE on the board, nodummy. It's against the rules.
For the record, the consideration for SLMU was 20 million shares and 20 million warrants to be exercised within 5 years.
You have absolutely no proof of dilution.
LOL nodummy is back! incredible.
Obviously, sir, you have not been paying attention. The connection is not limited to the premature release on the website. Howard Brodie has officially been appointed the Secretary of Sunlogics PLC. You can purchase the official filings here if you like:
http://www.gbrdirect.com/AvailableProducts.aspx?name=SUNLOGICS%20PLC&code=07461021&country=GB&product=GB_CH_CS
I did. That's "real DD," as opposed to blatant slander. You should try it some time.
I don't know what kind of explanation you are hoping for. The company has left me just as in-the-dark as you. Nevertheless, here is my understanding of the general relationship:
Sunlogics PLC -> Sunlogics, Inc. -> Sunlogics Power Fund Management, Inc.
1. Inc. is a wholly owned subsidiary of PLC.
2. SPFM has an exclusive right of first refusal to purchase solar projects built by Inc. All they need is financing.
There's your "correlation." As for my "prediction," or "hypothesis," or at worst "wishful thinking," the DD continues as follows:
1. On July 4 four new officers/directors were appointed to the board of PLC.
2. Some of those board members are also board members of NMSEC, which is 100% owned by a group of investors with $8.0 billion under management.
3. DO YOU THINK IT'S A COINCIDENCE? Why would they have ever created SPFM if they weren't going to use it? The merger is complete and SPFM has been actively seeking financing. IMO, they now share several board members with the source of that financing. IMO.
4. If SLMU recently merged with NMSEC, that would be A Good Thing. For illustration purposes only, if NMSEC gives SPFM $80 million in financing (in other words, one one-thousandth NMSEC's assets), (in other words, $2.97 per outstanding share of SLMU), what would SLMU be worth?
$.056?
Yea right.
I dont see how a positive for Sunlogics is a positive for SLMU.
Thanks. It does indeed lend weight to your research. This is getting exciting.
http://www.epv.net/default.html
New Millennium Solar Equipment Corporation (NMSEC) recently purchased the assets and intellectual property of EPV Solar, Inc.
NMSEC is 100% owned by a group of investors with $8.0 billion of assets under management who are committed to building NMSEC into the premiere thin-film amorphous silicon (a-Si) solar module equipment provider.
I've said it before, the current $1.5 million market cap of SLMU is jaw-droppingly low IMO. All it will take is news for the market to reassess. And news is on the way.
Take a look at this
http://www.gbrdirect.com/AvailableProducts.aspx?name=SUNLOGICS%20PLC&code=07461021&country=GB&product=GB_CH_CS
I, like you all, am frustrated with the lack of communication, but I am convinced it is not for lack of activity behind the scenes. No doubt getting this company off the ground is taking longer than expected. I hope and believe it will be worth the wait. Still holding 100k+ shares, still haven't sold a single one, and won't for less than .30 or maybe higher depending on financing news.
A great day, no doubt, but don't get too excited. We still moved less than $7,000 in shares today.
Everyone: look back to May 13, when this stock doubled on one million in volume in 15 minutes.
Right now the market cap of this entire company is less than $2 million. That is comically low IMO. Imagine if they get a $50 million initial financing with another $250 behind it over the next 10 years.
I am not a "to da mooon" kind of person. But we have seen how this stock moves on air. When real volume surges in to this on news of financing, this is set up to go..well.. you know.
In case new investors missed it... here is an e-mail that was sent from the company earlier this week.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=64460563
Another reason why financing news may be coming soon (emphasis on may):
NCP Northland Capital Partners Inc. to Act as a Financial Advisor to Salamon Group Inc. and Sunlogics Power Fund Management Inc.
Las Vegas, Nevada--(January 20, 2011) - Salamon Group Inc., (OTCBB:SLMU) today announced that NCP Northland Capital Partners Inc. of Toronto, Ontario has executed an agreement to provide Sunlogics Power Fund Management Inc. ("SPFM") with financial advisory and investment banking services with the aim of identifying corporate financing sources. The term of the agreement is the earlier of the date a Financing is completed and June 30, 2011.
I'm not gonna lie, I really don't care at all about your opinion of the long-term viability of the business model.
Previous article I posted said Sunlogics will be building ~500 Green Zones for GM. Today's article comes STRAIGHT FROM GM'S MOUTH saying as many as 2,000 are on the table for the next year or two.
500 x $200,000 = $100,000,000.
Life of the canopies is 10 to 20 years.
Current market cap is $1 million - that is comically low in my opinion.
Regardless of long-term profitability I am very confident that if Sunlogics is able to secure financing, the pps is going to go above 5 measly cents.
All IMO of course.
http://www.mlive.com/auto/index.ssf/2011/06/genesee_county_home_to_first_s.html
The station is a test run for GM as it opens the door to more than 2,000 Volt dealers across the country to install the charging stations.
“The goal was to really follow the Volt — follow that clean, renewable technology with ways to fuel the Volt using a clean energy,” Kurtz said.
* * * * * * *
[MARY KURTZ = RENEWABLE ENERGY MANAGER AT GENERAL MOTORS]
* * * * * * *
Another such charging station already is up and operating in California, she said. Others are expected to open during the next year, but Kurtz could not provide an estimate of how many dealers would get them.
* * * * * * *
The stations are produced by California-based Sunlogics for GM. They are free to use at Serra’s dealership.
“We definitely believe that solar energy is going to support the sustainability of the auto industry,” Kurtz said. “Will it be all of it? No. Will it be a part of it? Yes.”
A station costs more than $200,000 to manufacture and install. Dealers such as Serra leased the charging stations for 10 years and can take advantage of local and federal renewable energy credits to minimize the cost, Kurtz said.
Yearly payments for dealers are $8,500 to $10,000 for a station. Of that, about half should be offset by the energy, Kurtz said.
"In 2011, more than 500 Green Zone installations are planned for Chevrolet dealerships across North America..."
I like this because it doesn't refer to GM solar canopies, which admittedly are being built by multiple companies. It refers to Green Zones, which are exclusive to Sunlogics.
http://www.wnem.com/news/28106710/detail.html
Something is stirring...I am buying all the cheap shares I can. WAY undervalued at ~$1.15 million This is going to pop.
E-MAIL FROM SASS
from Sass Peress sass@sunlogics.com
to Joshua XXXXXXXX <joshua.XXXXXXXX@gmail.com>
date Tue, May 17, 2011 at 9:50 AM
subject Re: recent concerns
Josh,
You may share my response if you choose. The words below are my private opinion, and are not the official position of any entity:
I have not been in the loop of the ongoings with Brodie and Werthan, although I have heard good things about them from former colleagues, whom I know very well. They are the kinds of professionals, with public company experience, with whom it could be a great pleasure to work with. From what I understand they are very capable managers who are attentive to the details required to succeed in the legal and/or financial areas of public companies. Their additions would compliment sunlogics management team in that regard quite nicely. While I was heartened to see their names added to the sunlogics website, I have been careful not to make the leap into what that means for SLMU, since they are not recorded either as directors or officers of SLMU. During the course of the following two days their names were taken off the sunlogics website. I cannot explain any better than anyone else why that happened. To do so would be purely speculative.
As for the 4A issue, clearly there is an issue between Mike and John, and in my opinion, that's where it should stay. It has no relevance on the business of SLMU, until someone can show me how it does. If the issue is one of ethics, etc, I can agree with that. However, none of that has stopped the merger from happening.
I am sorry about everyone's angst at the situation, yet it was easily foretold in the void of a properly executed marketing communications strategy. I do agree that putting out a merger and PR, one hour or so before the bell on a Friday afternoon, is not the way to signal to investors that you intend on maximizing returns for everyone. This is not about me being right and everyone else being wrong either. Its just a pretty standard thing in the IR world when it comes to such major news as the long awaited merger could have been.
Hope this helps clarify my position on things,
Sass
- Hide quoted text -
On 2011-05-17, at 9:18 AM, Joshua XXXXXXXX wrote:
Sass,
Since the 8k filing on Friday, recent concerns have arisen that are causing some of your shareholders and others to panic. Specifically:
1. The addition then swift removal of Thomas Werthan and Howard Brodie from the Sunlogics.com website; and
2. The form 4/A filed by John Salamon on Monday, declaring the SPA to be in default.
I am a shareholder and plan to remain one for the long haul (years). I have read every single one of your blog entries and posts on the iHub website, and I appreciate your open communication thus far and I believe it has inspired confidence in my fellow shareholders. However, we are now faced with the above concerns with no clarification whatsoever of what, exactly, is going on. Being left in the dark is causing some ot panic, which is hurting the stock price (now again below $.08). Please reassure us with good news, or if none exists, at least explain the bad news so we can assess the situation. We deserve to be informed. Please do so either publicly or privately in response to this email. If you choose the latter and request that I keep your response private then I affirm I will do so.
-Josh XXXXXXXX
(?) New contact info on Sunlogics website (?)
I don't recall seeing this contact info before but I may have missed it...Please let me know if it's old news.
Sunlogics website Contact Info page now contains:
England
Thorpe-Beeston Investments Ltd.
1 Berkeley Street
London
W1J 8DJ
T. +44 207 580 6075
F. +44 207 580 7429
http://sunlogics.com/contact/
I googled Thorpe-Beeston and there's not much to find; their company website contains nothing but the identical contact info:
http://www.thorpebeeston.com/
The founder, Adrian Beeston appears to be on the management team of at least two other finance companies, Debondo Energy Group and Halston Capital:
Adrian Beeston is the founder of Thorpe-Beeston Investments Ltd, a private finance company based in London, England. His company specializes in the structuring, financing and floatation of small to medium size businesses on the U.S. Canadian, and U.K. stock exchanges. Over the last 5 years, Thorpe-Beeston has floated over 16 companies on these exchanges. Previous to this, Mr. Beeston was at Altium Capital, a major pan-European corporate finance house, where he focussed primarily on the raising of private equity.
http://www.debondoenergy.com/pages/753/management-team
Adrian Beeston is the Business Development Advisor, United Kingdom and Europe for Halston Capital. He is the founder of Thorpe-Beeston Investments Ltd, a private finance company based in London, England. Thorpe-Beeston Investments Ltd specializes in the structuring, financing and floatation of small to medium size businesses on the U.S., Canadian and U.K., stock exchanges. Previous to this, Adrian was at Altium Capital, a major Pan-European corporate finance house, where he focussed primarily on the raising of private equity.
http://www.halstoncapital.com/about_us/adrian_beeston/
This is probably all irrelevant, I'm just bored. Also note that the Sunlogics "About" page has not been updated to list London as a global office: http://sunlogics.com/about/
On the other hand, who knows? Maybe Sunlogics has enlisted other help besides NCP Capital in their effort to raise financing? Seems to be this guy Beeston's line of work
Easter and Pesach?
NCP Northland Capital Partners Inc. to Act as a Financial Advisor to Salamon Group Inc. and Sunlogics Power Fund Management Inc.
LAS VEGAS, Jan. 20, 2011 (GLOBE NEWSWIRE) -- Salamon Group Inc. (OTCBB:SLMU - News) today announced that NCP Northland Capital Partners Inc. of Toronto, Ontario has executed an agreement to provide Sunlogics Power Fund Management Inc. ("SPFM") with financial advisory and investment banking services with the aim of identifying corporate financing sources. The term of the agreement is the earlier of the date a Financing is completed and June 30, 2011.
How sweet would it be if they weren't putting the finishing touches on JUST the merger, but instead the PR (or a quick succession of PRs) says:
1. Sunlogics Power Fund has completed its reverse merger with SLMU;
2. Full details of the Sunlogics plc <-> Sunlogics Inc. <-> Power Fund quagmire are as follows: __________________;
3. NCP Northland Capital Partners has secured initial financing of $25 million (really not that high, see http://www.northlandcp.com/Canada/?page_id=100, but still ~$1 per outstanding share), with expectations to attract $225 million more by Dec 31;
4. Power Fund's first investment will be purchasing EVERY Chevy Volt Green Zone and GM Solar Roof array in the country, per the terms of its contract with GM a copy of which is attached hereto; and
5. NCP has already begun the process of uplisting SLMU to the TSX stock exchange (this plan "slipped through the cracks" by appearing on the sunlogics webpage back in January for about 12 hrs before it was taken down).
That'd be swell. I have to hope we get some fraction of this because I've been biting my nails for months now, way longer than this straightforward R/M of a company (Salamon) that didn't *really* have any operations before now should've taken.
Cmon Sunlogics. Do me a solid. Get it done.
On March 3, MM said "...there are no apparent obstacles to the expected finalization of the merger by April 5th, 2011." Straight up failing to pay Salamon as promised would be a pretty big "obstacle" IMO.
Methinks, therefore, that Salamon has been getting paid, and the company just didn't want to delay the closing of the R/M even further by bogging down their lawyers with 4 additional PRs to announce that each installment has been paid. Instead, we can look forward to a singular PR in the next 2 weeks saying "It. Is. Done."
If instead the PR says "turns out we weren't paying Salamon all along, and btw the deal has fallen through, suckas!" then, well, FML. I'm hoping that won't happen, as I'm sure you are.
See the press release from SEVEN DAYS AGO.
They should come out and tell us where we are in the process...
...and if there are any stumbling blocks they are working through.
My understanding of the business model of the Fund is this: SLMU/the Fund will receive capital from various sources (with the help of Northland) which it will use to purchase solar projects that Sunlogics Inc. designs and builds for customers (such as GM). The Fund will earn back the up-front investment - plus a profit - over time.
This excerpt was on the old website but is not on the new one that went up this week (which overall is MUCH improved imo):
"The fund has been established to invest in Sunlogics Inc. commercial solar power installations in North America. Projects will range in size from 20KW to as large as 10MW. All project investments will be identified and developed in partnership with Sunlogics Power Fund Management Inc. The net proceeds raised from subscribers will be contributed towards procurement of turnkey installations as identified and commissioned by SPFM. The fund targets returns of 10% to 15% from the cash flow generated from power sales of installations."
So for example, if SLMU purchases a solar canopy that Sunlogics Inc. built for GM for $175,000, SLMU's goal is to earn back its $175,000 up front investment in purchasing the project, plus an additional return of $17,500 to $26,250, over the life of the project.
Do others share this understanding?