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Hey Shore, shoot me an email when you have a chance: 3powershareholders@gmail.com. Thanks!
If you happen to be new to the board or just checking this out, start with the stickies. Also please ask the mods or other longs your questions - we are happy to share why this under-the-radar opportunity is building steam! $PSPW
Example of the tight float: On June 19th, we moved the SP from .12 to over .22 (even though we didnt close at the high) just by "topping off" our holdings with a couple thousand shares. I know because I was buying at the ask. As this thing gets moving, I think we'll be pleasantly surprised just how thin it is. There are still cheapies to buy at this level, but not many. Who wants to get in for the "Dubai lottery?"
I think we HAVE bought it up, but you cant tell with such little buying pressure on the MMs.
The float here is VERY tight. 20-25 million and most Is held by longs here on the board who have been accumulating for years. The quiet period won't last forever. As another long put it, "When will the wager window close?" Get 'em placed! $PSPW
According to my math, Tues this week would be the due date to file the NT 10Q for the Q1 period ending June 30th. Will we see the 10k tomorrow in order to file the NT on Tues? Or will the quiet period continue? $PSPW
We're in a "quiet period" in which privacy between the Albanian government and the company is more important than being current on the filings, so that permits for the construction of the Shala Project can be granted.
Anyone have useful input? We're top of the BoB currently.
Exactly. Falak & Co's behavior behind the scenes tells us what we need to know: Buying back shares to get over majority ownership (85% at my count). As we've talked about before, they've spent A LOT of money on PSPW over the years and will get their return.
MMs are working over whoever is looking for cheapies today. Two 5k blocks go through at the exact same second for .12 and .1420 and the .12s show as current price. Sounds like MMs have no shares when retail orders are placed.
I understand. I want to see a financing package and multiple international projects as well. I just don't think they have the drive or chutzpah to care about moving bigger energy projects at this time. Now, I am the most confident I've been in the last 7 years, but I also think our time to speculate has conjured up a "grand plan" that may or may not exist.
From this perspective, it does look like something changed in their focus about 3 years ago, and as such, they've been acquiring shares since. Maybe they really are creating Falak's "Energy Division" through PSPW. But if so, there's clearly no urgency outside of Shala. Perhaps get Shala built and making money, then build on that base with a cash flow for more projects? It's great speculation, but as we all know, context clues are what we've got.
I can see the subs full of shares used as collateral or whatever for secured financing. I don't know how much they could get, though. I don't see it as $ billions but maybe I'm missing something. And that former $3 billion credit facility they never used? Sounds like a high interest credit card - just because you have it doesnt mean you should use it, especially if you're going to carry a balance.
The last two months have been quite telling. Currently, what reason do they have to announce or disclose anything? Think about it. There's only 14 million more shares left in the AS to be issued (to themselves, undoubtedly). They already hold between 75-90% of the shares and only insiders have been issued shares since 2015. Why make it more "expensive" to get those last 14 mil by releasing ANY info that bumps the share price or attracts more attention? They have no reason yet to care about the share price. They likely did the 8k to avoid public disclosure from the Albanian goverment on other details since the Minister of Energy kept mentioning Shala in various interviews. It's just not time for them to care about the share price...yet.
At this point, I don't know if I believe there's an "end game" or strategy outside of the Shala project. There are arguments you can make either way, but the only thing that requires ANY urgency at the moment is the Shala project since they're on the clock. I don't believe this is a ploy either. If anything, its a great example of how passive and/or lazy businessmen with diversified revenue streams can wait out the corruption and risk of a developing nation and increase their ownership stake until the risks are mitigated.
Why do you think?
Great eye Future! Top & I were talking about this last week.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=142594785
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=142596436
https://investorshub.advfn.com/boards/replies.aspx?msg=142596436
The annual documents were filed a month after they were signed. Mohammed's father AR Falaknaz is on them too. Why the delay between sign and file? Something to do with getting Grew Energy converted from PLC to LTD and ready for shares as a sub? Or those things are unrelated? Maybe just avoiding disclosure until ducks are in a row?
Cut and paste, no. But staying delinquent doesn't seem like it would help move us the right direction either...
Yes, I would agree - wouldnt expect much more from him. It was nice to actually get a response though, which is more than Mr. Rahman has ever done!
The old "imminent" talk again haha. Guess we'll see it when we see it.
"Hello Mr. Heinl. Would you please advise as to when you anticipate Mr. Rahman will file the PSPW annual 10k report to get current? I have reached out to him directly but have not received any communication in return. Thank you for your help."
Response:
"As you know I am not an officer of 3Power. However I understand that filing is imminent. Wolfgang Heinl"
SOON with reverse merge into WAIT
You are right, 3Power Shala moving forward - those docs are filed too, obviously. Why did they wait til the last day to file everything when they had them done a month before?
I'm glad Lluka's not around - too much baggage for my liking. Seems AR felt the same? Things are getting serious, so no reason to stay on the sidelines now. Respectfully, it was all "daddy's money" anyway to keep it afloat, right?
I'd like to see the K tomorrow, but thats just wishful thinking since its clear they may be content to stay delinquent to avoid disclosures until enough is approved. Alive and kicking, at least.
http://www.qkb.gov.al/umbraco/Surface/SearchSurface/DownloadDocument?documentCode=D2994496-F442-4DBD-95E7-FAE85367F2F1
http://www.qkb.gov.al/umbraco/Surface/SearchSurface/DownloadDocument?documentCode=9C018D8F-5F8D-401C-9CA1-CE2169D4D5A7
http://www.qkb.gov.al/umbraco/Surface/SearchSurface/DownloadDocument?documentCode=D49224EC-7BA0-4C6F-9C2C-115597875388
Sharif Rahman & Abdulrahman Falaknaz met at the end of June, then the attorneys filed the annual paperwork for Shala Energy Shpk today. Hopefully these links work. If not, go to qkb.gov.al and search "Shala Energy"
http://www.qkb.gov.al/umbraco/Surface/SearchSurface/DownloadDocument?documentCode=268FE767-12EE-4629-8004-62BC9D8B1D44
http://www.qkb.gov.al/umbraco/Surface/SearchSurface/DownloadDocument?documentCode=60FFE5B0-5DBD-4D85-9211-587A2B00DF5F
http://www.qkb.gov.al/umbraco/Surface/SearchSurface/DownloadDocument?documentCode=0101AC23-C701-450E-877C-B6B24E244C14
http://www.qkb.gov.al/umbraco/Surface/SearchSurface/DownloadDocument?documentCode=D6731448-C629-4585-8D87-C427D26B92A3
Our concession contract is approved, like several others. What I meant was that our concession is not publically available to see online (unlike some of the others. At least so I'm told).
Called the Shala office in Tirana this morn. Ms. Sokoli is very nice but can only talk about Shala related things (I asked about the late filing, just to see).
Nothing substantially different from when I called in June. The company is still working through the permissions with the government for environmental, ecological, etc, which could take a maximum of 18 months (I think she threw that in to cover herself, but thats my opinion). I asked about GR Albania and was told that yes, they are doing some of the work. I was told that we will see mention of the project/granted permissions in the relevant online government resources when approval is completed.
It was also suggested to look at other recently aproved concession contracts with the government that are available to see (since ours is not) to get a clearer view of what they're working through, as they are very similar. Again, nothing new, but still good to know where things are at.
Given the environmental issues with the original project, it's not a surprise things are as quiet as possible to avoid potential derailments of the permissions (see: websites taken offline/parked, no word in the public notebook on or around the April 4th approval date, news article taken down from April 28th that had Minister Gjiknuri mentioning Shala moving forward).
MMs have no shares bc we have most of them!
Anyone buy the "G1 Special Resolution" or the "Amended Constitution" on Grew Energy Plc? The other 3 docs arent up yet.
Topfuel's insider shareholder's analysis as well:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=141719318
DD of Current Events. Get up to speed.
(1. Projects. The company through its Albanian sub 3Power Shala has signed the 83.5 MW Shala river hydro power concession CONTRACT with the government of Albania on April 4th of this year (announced on June 12th via 8k). This project is expected to take 36 months to complete, will require an investment of around €110 million, and will produce an estimated €17 million in revenue annually (see 2017 Newsletter).
We are awaiting confirmation that either financing has been arranged, or that construction has commenced on the project which would also indicate financing. Also looking for potential confirmation of any other Albanian hydro or solar projects that 3Power Shala may be in the process of acquiring, or any unsolicited bids for projects that the company may be submitting now before the Albanian laws change in September outlawing unsolicited bids.
8k: https://bit.ly/2LrwFOT
Excerpt from 2017 investor Newsletter: https://imgur.com/a/RGFlPoJ
Albanian Government official record book for contracts, legislation, etc: https://bit.ly/2uUvFZl
Albanian Business Registry, search "Shala Energy" or "3Power Shala" : https://bit.ly/2JP1Uyj
(2. Majority insider shareholdings. They range from 218-259 million shares of the 286 million OS, or 75-91%, held by the Falaknaz family (Chairman), Sharif Rahman (CEO), or their related parties.
It's become quite obvious that majority control of shares is paramount to the strategic plan our "Dubai Boys" are working on. 10k annual reports from 2012 to present show OpEx loans (from themselves) and salaries both being converted to shares. The 10ks also show other large shareholders (that were not the Falaknaz family insiders) gradually disappearing over the years, and 3Powers' various Irish subsidiaries look to be holding many of those shares in under 5% blocks to avoid disclosure. At this time unfortunately, its nearly impossible to account for EVERY share sold on the market, sold back to the Falaknaz family & related parties via off-market transactions, or shareholders that had to disclose at one point, but no longer have to now that their holdings are under 5% of the current 286 million outstanding. HOWEVER, you can follow the money and with assimilation of other DD on the board here, I believe you can follow the shares through the years.
Chronological Ledger of Falaknaz & Related Parties' converted shares, 2010 to Present
https://s15.postimg.cc/g3jb3w3ej/IMG_6004.jpg
Chronological Statement of Beneficial Ownership, 2011 to 2017
https://postimg.cc/gallery/1eu2y04m0/
(3. Upcoming 10k and subsidiary holdings. We are awaiting the 10k annual report for year ending March 31st 2018. As of 7/16/18, it was "later than NT late." There may not be a "good" reason why the report is late, however, the company seems to have been auditing the subsidiaries so it may be taking longer than anticipated as they are "chock full o'shares." The Statement of Beneficial Ownership in this upcoming 10k will be of interest, and it should also show us who received the 12 million shares around May/June of this year (very likely a Falaknaz related party, and I've already included them in my share count). It is UNLIKELY to include new Shala project info since the company signed the Shala river concession contract after the period that this report covers. There should (hopefully) be new project info included in the upcoming Q2 report, due in Aug.
Enthalpy's subsidiary flowchart from 2017 (actual share amounts may need updating)
https://investorshub.advfn.com/uimage/uploads/2017/4/5/jdqjjOrganizational_Chart.png
3Power Energy Projects Plc: https://bit.ly/2NE0skH
Shala Energy Plc: https://bit.ly/2uXhrXv
Grew Energy Plc: https://bit.ly/2mBcwI3
I've got some succint DD coming with links for anyone new
Never knew about the NOBO list, thanks.
If you're new here, hop off the mobile app and read the ibox. Great place to start.
Respectfully, that's a reasonable question to ask when one is used to thinking so small.
I suppose that's true. Notice how from about 2015 on, shares are staying in-house, only converted to Rahman and Falak. That's why I'm fairly certain the 12 mil that went into the OS in May/June of this year are part of their insider holdings in some way, and I've counted them as such.
We should have seen it before, but if the subs continue to grow or have more shares added to them and nothing else changes, then basically we have confirmation that they are buying back shares off the public market from the various parties of deals that never materialized. How else would shares get transferred into the subs if everything else stays accounted for? :)
Indeed
238 million shares or 83%. That's what I can come up with after running numbers in the 10ks (2012-2017), other filings, the PLCs, and making certain assumptions about the present that have been proven true in the past. At this point, I don't have what it takes yet to support 91%. My previous claim was maybe a tad strong :) Doesn't mean all our speculations are off base, but it just means I'd rather be more conservative because I'm getting the sense more shares may have been sold into the float during the last 7 years that we were counting as possibly still in play.
How'd you get to 259 million? Your chart from June 22nd looked liken it was 235.
I would prefer we stay out of waste-to-energy projects. They are very technical, large overhead, and without huge subsidies, the margins are super thin. There's a public waste to energy company in my city and they've been bleeding investor's money for years. I would hope our Grew Energy Public Limited has been separated from GREW the gray market stock at this point.
Lol ;)
Something happened on Fri with GREW, they filed 6 documents, and not just "regular" ones. How is GREW connected here, Enthalpy? I can't seem to accurately remember.
https://www.solocheck.ie/Irish-Company/Grew-Energy-Public-Limited-Company-426538
Nice find! Would still suggest they don't have the financing though. I signed up for an account with Tracxn, but without being a paid member, there's really nothing else they give you access to.
I knew "the brains" could explain it :)
Those are peripheral things in my opinion, Ossan. I don't actually believe they will take this private - why on earth release that 8k about the project contract if you're going to try and "buy out" shareholder? Doesn't make sense. However, as Enthalpy and Top and others have shown evidence, Falak and parties have been accumulating shares of 3Power to which their holdings are very likely 255-259 million shares. THAT'S the ticket. You dont accumulate almost 91% of a pubically traded entity and keep it as secretive in the process just to let it die.
Do I actually know what they're doing? Of course not. But I feel very confident in what the "evidence in the margins" shows us: they see value in owning as many shares as possible. Which means if I had free powder, I'd buy as many of those .1250s sitting on the ask I could!