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Maybe he or she is a newly-married-and-soon-to-be-employed-again- small-time investor with the need for disposable cash to make moving during the holidays a little easier...
Everyone has a different story. I'm still holding all my shares, and plan to as long as I can. But life changes, man. And maybe those changes mean cutting some off the top at a lower price, even if it's "ludicrous" :) GLTY and everyone here!
Good find there! Originally, I thought they were PAL (Power Andina Limited) for the Chile projects. But PAL could also be Electroandina Limited, depending on translation. I've explained my thoughts previously in point #3 from post# 37710 and in post# 38770.
I don't think we actually acquired them, but that's JMO.
Mil0x, I hadn't replied right, but post 45620 was in response to you. Either way, PSPW ftw! :)
Yeah I've read that, and I'm with you on it. It's good stuff, and very helpful to know they have an alliance with 3Power. I'm just making the point that there are seemingly 3 wholly owned subsidiaries under 3Power and we know anything transferred to those subs are "ours." The projects for the total of 58MW in Chile were supposed to be transferred to the "wholly-owned Chilean subsidiary, 3Power Energia S.A" (May 19th PR).
To my knowledge, Seawind Sudamerica is a different entity from 3Power Energia SA. Or has the Seawind portion of the Sudamerica name been changed to 3Power? No doubt 3Power is working with Sudamerica as a partner in some way - but are THEIR countless projects also OUR projects?
We can certainly speculate that Sudamerica falls under the 3Power blanket basesd on circumstantial evidence that poses a strong argument. But until I see the an income statement or balance sheet showing revenue/assets/liabilities tying them together, I'm not assuming anything.
I remain speculatively optimistic, but factually grounded.
*edit* The name change of the Energy/Services subs was official in the latest Q on page 12, along with awaiting the payment from Sany that's due in Q4.
*edit* Also from that same section, "3Power Project Services Limited also commenced work under the Project Management engagement with 3Power Energy Inc. on the ongoing development of the first 18MW of wind projects in Chile." Then it mentions "minor works" with Barrick (which was a Sudamerica project) which could be a partnership...
3Power Energy Ltd (formally Seawind Energy) and 3Power Project Services Ltd (formally Seawind Services) are subs of 3Power Energy Group Inc. We all remember that the names were changed on July 4th of this year.
However, Seawind Project Services Ltd was incorporated in March of this year and (I believe) exists as a sub of Sea Wind International. (Go to dellam.com and search for it to see basic details). There hasn't been much account activity under that name, though.
Where does Seawind Sudamerica fall - under 3Power Project Services, or Seawind Project Services? THAT is a big question. Because the last Q was for the period ending June 30 and the names were changed/officially transferred on July 4, we don't even know!
Let's not count our chickens yet, IMO...
At the bottom of the "Ardent Mines CEO Interviewed" article, it lists other companies SISM Research has investigated - one of them is 3Pow (the PSPW report was the one that came out before the Seawind merger was even announced).
I just think the "PSPW" symbol was tagged in the article, I DON'T personally believe our company is directly involved with them. But hey, what do I know? :)
The emails should be in the same format: f.lastname@3powerenergy.com. I had emailed one of the Italians in July using the same format and it didn't bounce. But I'm sure Bala has a shortened email rather than his entire last name haha!
You know, I sent Toby an email back in June asking about connections between Falak, Rudana and a few others after I had done some research...never got a response. Of course that was during the first quiet period, but I think I was a little bit ahead of the game at that point!
Let's see what happens over the next couple of weeks :) PSPW!
Thanks for thinking of me. Yeah its pretty crappy timing. But I'm in the process of networking my connections and should be rolling again soon. Hopefully soon enough to not have to sell some shares here yet :)
Sounds great, and about time too...I'm currently without a job and may need to lighten my share load soon. GLTA!
Hey all! Yes I'm back from my honeymoon, it was so relaxing ;) We had a wonderful wedding with great weather (it was outside in MI). Seven, some things are shaking up at work, however...so I could really use good news from T-Dawg and Dubai Boys here soon haha.
Ahh, thanks Chime! Yeah it's been a busy couple weeks getting everything ready. Plus I moved offices at work, so not much time on the board here - funny I just pulled it up and saw your message haha.
A nice little financing announcement next week would def be a great gift leading up to Saturday. Plus I like the thought of relaxing on the beach while my PSPW grows :) Have a good weekend too, and I'll see you all mid October!
In spite of my unanswered questions, I decided to let it all go. T-Dawg, Ess Dub & the Dubai Boys are moving forward in a positive way, and I expect great things. I doubt we'll ever know what happened behind the scenes with our beneficial shareholders.
IMO, I don't think we should expect too much from Durrant on this issue. His leadership and communication are great, but what if this isn't up to him? Look at all the shares these guys hold - offshore accounts cloak identities for a reason, and clearly whoever "they" are, have kept this thing shut tight.
We know that Rudana/Falak/Capital Trust all share(d) some of the same directors. Logic would suggest tit for tat; the contracts and projects should be intact if the personnel and relationships still are. I hope so, but I'm not "drinking the koolaid" on this Rudana thing anymore.
Let's get some official project financing, and away we go :)
It's like he's reading this board! lol
"The Company believes this to be a major step in enhancing its financial capabilities and in the provision of an alternative feasible credit line to finance the Company's project pipeline."
Well, they do have 19,607,843 shares already, haha
Guess we got our answer haha!
Kfa, according to my knowledge "AG" is the German version of "LTD/Limited" here in the U.S. and "S.p.A." in Latin America. Haha, I was just about to post that same link you just sent me ;)
So far, I'm convinced the next round of financing will either come from players in the Middle East (Dubai or Bahrain), or one of Durrant's companies (Regligare or Liberton).
I just re-read the 10-Q and it confirms that Viewpoint = Falak Investments AG (pg 18). I'm sure we've already established this fact on the board here, but I had missed it. So the Dubai guys are there, and once again, a former Rudana exec is on the Falak board.
And from the Novus Aviation website, "Falak Investments is a joint venture between United International Bank and Muzun Partner Ltd, a company related to Novus Aviation." United International Bank changed their name to Seera Investment Bank. www.seera.com. Share capital around $2.5 bil and paid up capital over $291 mil. Hmmmm...
Ahhh, the old "put words in my mouth" thing. I'd like to ask that you please keep my opinion out of your posts, and stick with yours. Thank you, and I hope all goes well for you.
I see your point, of course. Global economic factors like European debt and the instability of the currency clearly can hurt the financial well-being of 3Pow and their potential clients - it already has with the Italians, it seems. But I'm on this board, invested in this company, not the Euro or FX.
Furthermore, even at a pps of .43 (or .4), many here are still up over 300% from our first buys, including myself. If this is a bottom, which it seems to be IMO, I'm perfectly content to give this 4-month old company some time to play out their proposed business plan.
And no, I don't know where those 7-8 million Rudana shares went prior to Toby Durrant's arrival. Probably sold already and in the float. If that's enough for you to sell your remaining shares and move on, more power to you. Each of us determines when to buy and sell, that's the destiny we hold.
And I disagree with you on the pump by the company; that never happened. Now on this board, on the other hand...
Good luck to you, sir!
Eurozone is in trouble, but the English don't use the Euro...matter of fact, neither do economies in the Arab world, or in Chile :) I'm confident that non-dilutive financing can be found somewhere.
I think that should be for the total of 58MW as there was a large project for 49MW (the 32 turbines) and the 9MW (the 6 turbines).
I developed a revenue estimate awhile ago as accurately as I could, but I'm sure things have changed with the economic climate over the past few months. See post# 32410 for my estimate. I'd stay on the conservative side at this point.
You're fine, no need to apologize. Numbers are numbers, but they may have a different interpretation for everyone when coupled with what is unknown.
We already had a good indication it would be declining for now, meaning 2Q at least, since the company told us they would finishing up external contracts. Then operations would all be directed towards internally producing power, connecting to the grid, and selling it.
From what we've been told, the new/current wind projects (Chile & Ecuador, at least) have not achieved power to grid yet, so there would be no revenue from new operations.
From what I understand, the Chinese clients were not residual revenue from sale of power, it's engineering/contracting work. Am I correct?
The 300 is the A/S, 107 is now the O/S.
got it.
You got it, Tiso - finished these up!
"3Power Project Services Limited continued to make progress on its engineering and supply contracts with its two Chinese customers as those projects approached completion."
Well, at least there's some revenue. And more than $142 in assets :P
Haha thanks ;) Indeed, it's just around the corner and I can't wait! But I need 3Pow to give me a nice gift too. The outspoken Ricky Ross might have a few letters to represent my current situation...B.M.F.
Right, the connection is most certainly there. CTH = what was formerly Rudana. But what we don't know is (a. did the "proposed" agreement actually happen, (b. if it did, wth has CTH been doing for 3 months, (c. why haven't we heard about it yet (default blame goes to the Italians haha), and (d. has the Albanian govt given the shaft to what is/was such an integral part of 3Power's plans?
Butttttt in light of the unknowns, I remain optimistic :)
Nothing like a good bash, huh?
I guess you've already called the CEO of the company with which you've invested your hard-earned money and spoke with him about your concerns...No?
Speaking with Durrant directly and then seeing him follow through with what he told me has made all the difference. That was pre-merger of course, and a lot has happened between then and now. But I've been completely confident in my investment when Toby is in control of the company!
Genius! Sounds similar to my experience.
I fell asleep at my desk this afternoon...
And woke up on the shore of my own mind.
There I saw these 2 Italians trying to turn an energy trifecta upon itself.
The buildings around me seemed to crumble under the burden of wasted potential and toxic "financing" that gave way to the dust of shareholder equity.
But amongst the rubble I met a wonderful chap. I was startled as he leaned in and whispered in his native accent, "after hours..."
Hahaha, a measly $100k really going to get "dumped" when the company needs $19 Mil+ to finance projects? Maybe if we saw 3-4 million shares in those large blocks...but even then, probably just a whale :)
Non-dilutive financing - that's Toby's jam!
CFO only until the Italians we're formally in control. Then he "went back" to CIO. Durrant was directly responsible for the large merger filings (from what we understand), so I doubt it would take him longer than normal to get these done now. Unless, of course, there was info he was waiting to get from a third party. But hey, who knows at this point?
Would be nice to get these filings current to hear an update on the plans moving forward. I'm always looking forward with a close eye on the past.
h m m m m, let me get my powder ready ;)
Durrant has sent (at least) 3 different people on this board emails that he plans to to get the filings current. We've been notified which filings will be coming. Is there really a reason to take up more of his time responding to emails when it is clear that getting the fins and filings done correctly is taking a little longer than we would like?
More like afternoon conference calls for me haha. Glad you've been able to pick up a "few" more shares, man. Big things soon!
Seems that "Meerwind" is the name of the the off-shore project...Too bad its not the name of the German subsidiary company instead of WindMW GmbH. Would be nice though :)
http://www.sitheglobal.com/projects/meerwind.cfm
Tough to say. I would think it depends on who is providing it, and what the terms are IMO. I'm not a "finance guy" so it was difficult for me to interpret the underlying implications of the previous $50 mil credit facility. But if the connection is close, say like Durrant's Liberton or a board member's own business for example, I assume a boost for investor confidence like that would quite nicely impact the pps. PSPW is still trading on a lot of speculation, but over the next several quarters, I expect to slowly see that change.
And I wouldn't know where to start for NASDAQ implications. A bit irrelevant right now IMO. Very important for the long term, and still apart of the company's trajectory from what it seems. But straight up obtaining cash to finance projects to bring in revenue seems more of an immediate need/goal.
Gosh, sorry that I'm so long winded :)