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I know many of us are awaiting the financing news, specifically in the form of reasonable debt or straight up capital infusion by Falak. But I just realized what the wording on the Albanian project could mean - Wouldn't a "private placement," by definition, decrease the underlying value of our shares? The OS would increase, but the public float should remain the same. Am I correct in my understanding of this?
Yeah it seems like 107MW total in PR'd wind projects is accurate - as long as they are using turbines with the same output (1.6 nominal MW?). But I don't remember if all the projects were slated for connection in Q1 2012 or not...
There have been several estimates on the revenues these projects could generate. I put one together back in May for the 58MW wind in Chile: $18-$43 mil per year based on the capacity factors and cost of electricity. Not the most precise, but I was striving for an accurate range, if not a little conservative.
Check out post# 32410.
Hold down the fort this morning for me, Wakl. I'll be out until noon, unfortunately. I think we need to maintain a balance somewhere in the middle between senseless kool-aid drinking and senseless bashing, haha :)
Thanks TESLIN! Yes, all original shares here ;)
Holy bananas! I step away for 6 hours and come back to this! haha
Thanks for keeping me up to speed, sctts. I'm not trying to make something out of nothing here, but I still don't understand the logic.
"As of November 18, 2011, the Issuer had 107,127,408 shares of its Common Stock outstanding...300,000,000 shares authorized, 107,127,408 and 99,722,743 issued and outstanding at September 30, 2011, and at March 31, 2011, respectively."
Because of the word "respectively," I take this to mean that on 3/31/11, the OS was 99,722,743. Then on 9/30/11, it was 107,127,408 TOTAL, not 107k in addition to the 99k. Am I missing something here?
I'm changing it. No sense in misleading anyone with wrong info.
Right, the iBox says
206,850,151 a/o Sept 30, but from the last Q we know it was 107,127,408 a/o Nov 18.
I'll change it. Unless someone can verify a different number, it should be 107,127,408.
Falak Investments was a Swiss investment arm just like Rudana. Their liquidation is a step in the right direction for confirming Falak's involvement as more than a pump. 3Power just told us they will open a 100% owned sub for acquisitions and financing in the Middle East. Will they truly create a new sub, or use one of their 50 existing shell/investment companies? THAT remains to be seen, but I'm glad Falak Investment is "gone."
Yes, Falak and Rudana have close ties, there's really no way to dispute that. I'm positive so far at the recent developments, but there are several key points to watch. "The company has made big progress on the project's pipeline development and acquisition including grid connected and revenue generating projects..."
That will be key. Beyond the obvious PRs that will be coming, will the numbers in the next several quarterly reports support project development and the start of revenue generation? In other words, let's really see Seawind's true involvement then we should be a little more "in the clear." All my opinion, of course.
Holy Cow!! These are great developments! I've just read the PR, but I'm at my in-laws all weekend with limited internet/cell access. Is there anything else I need to know about these developments at the moment? :)
I believe it's an old address. And he spells it differently for each company. I've seen it several ways in other filings/announcements.
SHEREEF HANEEFA MOHAMMED REHUMAN
SHARIF REHUMAN
SHARIF RAHMAN
SHARIF REHMAN
I haven't called, but I did email Jacob Sebastian asking for a contact from Falak/IEC that would handle communication with shareholders. That was 3 weeks ago and I haven't got a response. I also emailed Travis Gering and received no response (although my email to Gering asked some specific things so I'm not really surprised I haven't heard back).
Ahh, solid as ever! And I have way less shares than you do. If the bargain's on the front page of the news, it's too late. 2012 will be a great year for this company :)
Glad this is working well for you then! It's good to know how open Jim is. And thanks, marriage is great ;)
Indeed I am sctts. Of course I see how a 1:1 div makes GTGP undervalued here. It's the Pinky > Nasdaq thing that just yells too much hype.
Haha, well I'm just lurking, but nice to see you Narnia :)
I've read the filings and PRs. Please point me to a source if I'm wrong, but how do you have any indication that the div will be on the NASDAQ/AMEX? With the acquisition, would the sub really be able to meet the requirements (other than share price)? I see a lot of speculation and opinion, but I'm trying to keep the facts straight.
Yeah it does. It's clear that they are not ready to communicate. My goal is to try and find out why, instead of trying to just solicit responses for the sake of hearing something.
Now, I'm not naive enough to think I can completely solve the puzzle, but I can sure get a head start. Heck, I was right last time when I had a hunch about the Dubai Boys' involvement. Then bam, here we are.
Regarding Falak's current PR agency- I've been exchanging emails with Prem from White Water PR (who does IEC's news releases). He said he normally works with Jacob Sebastian (the Business Head) for IEC, but was not aware of Falak's involvement with 3Power. At any rate, he said he would like to work with them as well...
Point being: Falak has not (yet) utilized their current PR man for 3Power.
In case it's of interest, here's Wilson's and Adam's companies also. I'm sure there's a useful connection in there somewhere, haha.
http://company-director-check.co.uk/director/903557693
http://company-director-check.co.uk/director/905635501
Not yet, but soon...the process is taking awhile. And Chime, it is indeed :) Best wishes to you as well!
His company Liberton Worldwide seems to be the only one where he is actively involved, at least in the UK. But Libertonworldwide.com is still just a landing page and nothing more.
Look at his past companies:
http://company-director-check.co.uk/director/906580217
Look at old posts way back at the beginning of this board, like #17 from Feb 2008. Our CFO Sharif Rahman (or some variation of his 4 names) had just taken over as CEO of AMECS/FOUR in Dec 07, then resigned in Feb 08 without having done much, it seems. (His only 2 SEC filings were the designation and resignation as CEO). I'm assuming that won't happen here because of what's in place now.
Just thinking out loud. Why is Falak & Co directly managing PSPW now, when they could have been years ago like with FOUR? I know we had the whole Rudana thing that mucked up the waters, and they're all tied together in some way. Did certain things have to come together first, like gaining the project management experience of Seawind? Or are we close to a "last resort" for working capital? With Seawind's efforts focused internally now, I'm thinking both really. Time will indeed tell.
Let's just say that I'm glad for Seawind, otherwise I might not be as positive about this investment right now, haha. Here's to 2012! :)
Well he never said that previously owned projects built by Seawind were not in the mix...they've sold most/all of their independent projects. But I seriously doubt all ties are cut. Guess we'll have to wait and see, gotta run :)
I will be out tomorrow for an all day interview, so I figured I would post this now. I sent an email to Marcelo Banto (and CC'd James Wilson) on Dec 1 asking about whether the upcoming 9MW "Raki Wind Farm" was actually the 9MW PAL2 project from PSPW's latest 10-Q. You can see the environmental study and the related documents for Raki here. I received the following response from Banto this afternoon.
"Mr. Dxxxxx,
There are no contracts between Seawind and 3Power for any projects in Chile and all similar enquiries should be addressed directly to 3Power.
Regards
Marcelo Banto Christen
Ingenieria Seawind Sudamerica Ltda."
I guess whatever partnership exists between 3Pow and Sudamerica doesn't include any of our 3 wind projects so far.
ahhh wak, when are you not having a manhattan? :) have a great party!
Yeah I think the Dubai Boys are fine on their own, but I'm not counting anything out at this point. It makes more sense for Seawind International than it does for 3Pow since they are still a private company and some of their subs are now "ours."
The search is good and I'm interviewing with several companies. I've got my eyes on two of them. Finding a good fit seems to take time, especially with multiple interviews. Nice of you to ask :)
Happy Thanksgiving all!
So I'm connected to a particular Seawind employee on LinkedIn, and he's recently connected to an investment officer at Al Zubbah Investment Company. They are based out of Saudi Arabia and work with businesses in the MENA region/GCC like the U.A.E > www.al-zubbah.com.
Of course I'm not saying this means anything about financing for 3Pow, but what coincidental timing right? It seems like Al Zubbah typically invests in small to medium private companies and family run businesses (unlike PSPW), but there was something else that caught my eye on their website...
"Al Zubbah targets companies at the different stages of a company life cycle such as growth and expansion stage, early startup stage, and even turnaround and restructuring phase and also gives long term loan facilities."
Hmmm...
Ahhh I see old Slicosia is at his game again! Watch for lots of dilution while this runs and then bail quickly.
Ok, I see - this last Q had an additional project regardless of whether it is "new" or not. I was referencing what Gomez and Rook were talking about to get the 107MW.
The 2Q report (ending June 30) showed an agreement with Enerserve for a 32 turbine project, and with PAL for a 6 turbine project.
The 3Q report (ending Sept 30) showed an agreement with Enerserve for a 32 turbine project, and agreements with PAL for a 32 turbine project aka PAL1 and a 6 turbine project aka PAL2.
These agreements are great! However, it seems only ONE is inherently new. One PAL agreement and the Enerserve agreement were originally announced in the merger 8-K or shortly after, and were also included in the 2Q 10-Q. In this Q, a second PAL agreement is the new project, at least according to my understanding. Can someone back me up on that?
Also, just to keep a good perspective, the Enerserve Project is pretty much like 3Power having an agreement half with Seawind International, and half with ourselves. I had never noticed that before. So as 3Pow works toward that 300MW/3GW, I wonder if Enerserve will continue to "consult" projects out to "us" or not... Also, Sudamerica is controlled by Tim Adams who is not a director/board member for 3Pow. Taken from the May 13 8-K:
Thanksgiving Week 2011 Contest Pick CLWR
I'm thinking they won't skip the payment and it'll bounce nice ;)
That email will go to Jacob Sebastian who apparently is Operations Manager for Falak and General Manager at IEC. I've sent messages and tried to connect with him on LinkedIn but never emailed him at that address. Might be something good to try.
Well, I tried to email our CEO today at u.balasubramaniam@, balasubramaniam@, u.bala@, and bala@, all of which bounced - so don't use them, haha. Either he has a different name variation for the email, or it has not been set up yet. And some of these middle eastern guys have like 4 names so who knows lol.
Haha, quite likely. We should get a share count for the board here before the next news hits :)