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Wouldn't that be a nice PR to get tomorrow or Monday? :)
If that did close and all is well, then tomorrow's 10-K shouldn't say the same thing as last year's:
"As of the date of this Report, we have not yet generated any revenues from our business operations."
Haha. Here's to some good news tomorrow pre-market for a nice short squeeze! PSPW.
With so much DD here, I can't remember if we know details about this transaction and whether it has "closed" or not. I think Choi's DD includes this in the company's assets and/or revenue stream, but I don't remember. I'm just doing a little digging into 2010 filings and PRs cause I've never read some of this. Can someone enlighten me? :)
"15-Mar-2010
Item 1.01 Entry into a Material Definitive Agreement.
Acquisition Agreement with GPR Global Power Resources Ltd.
On March 2, 2010, Prime Sun Power Inc. (the "Company") entered into an Acquisition Agreement (the "Acquisition Agreement") with GPR Global Power Resources Ltd., a company formed in Switzerland ("GPR"). Pursuant to the Acquisition Agreement, the Company has agreed to sell to GPR all of the shares of a subsidiary of the Company called PSP Italia S.r.l. This subsidiary will develop a turnkey alternative energy power plant, utilizing solar power. This transaction shall close when the power plant referenced therein has reached certain milestones enumerated in the Acquisition Agreement.
The purchase price for the shares of PSP Italia S.r.l. shall be a minimum of 4.05 million Euros per mega watt of power produced by the turnkey power plant. The Acquisition Agreement shall cover up to a total of twenty five mega watts of power, for a total value of 101.25 million Euros. Payment shall be due to the Company in tranches as each five mega watts of power is connected to the regional electricity grid.
The Acquisition Agreement requires the Company to facilitate and arrange for long-term debt financing of at least 80% of the purchase price. The terms of the Acquisition Agreement are subject to review and approval by the relevant third party financing institution. The Acquisition Agreement requires GPR to finance the remainder of the purchase price, and to deliver a Bank Standby Letter of Credit in an amount equal to 20% of the first payment tranche that will be due.
Financing Agreement with CRG Finance AG
The Company has entered into a Financing Agreement (the "Financing Agreement") with CRG Finance AG ("CRG Finance"). Pursuant to the Financing Agreement, CRG Finance will pay the Company a total of 470,000 Euros as consideration for the transfer by the Company of 20% of the net profit rights in the sale of PSP Italian S.r.l. to GPR (the "Net Profit Rights"). CRG Finance has agreed that upon receipt of its Net Profit Rights, CRG Finance will reinvest at least 50% of such Net Profit Rights into either new projects of the Company or shares of the Company, at a purchase price to be mutually agreed upon. The Company has issued a senior promissory note to CRG Finance in the amount of 470,000 Euros. The principal of the note, along with interest at an annual rate of seven and one half percent, is due December 31, 2010."
i don't know about anyone else, but i'm pretty excited to see what next week holds! imo our boy toby IS hitting the ground running. pspw
yeah, only the shadow :)
zoe, i know you normally keep pretty quiet so i can't remember if you had said you were going to the meeting or not. were you there?
dude i feel ya! i just picked up some .60s as well!
Hey do you notice how many clients on their website Wuersch & Gering LLP has worked with that are SWISS? A MAJORITY of them. Now where is Rudana based from again...
:)
this looks primed.
good consolidation even with manipulation, RSI now in the lower-mid 60s and pretty damn thin from here to a buck! save for NITE's little push down games haha
ahhh wish my money was clear now (it will be tomorrow) to hit the ask right about now! PSPW
I was gone all weekend and just caught up on all the posts ...wow, this board has been rockin! Also, I agree with you EasyRider, the board members together is big. A PR should definitely follow the meeting too IMO. PSPW!
Hey easyme, I can't send PM but I've got a question for you. Can you PM me your email if you can?
Well if we don't get the filing directly today, I will be watching for your posts! haha
Couldn't we just buy the filing for 18 GBP and get a quick peek at the financials? :) Or would that filing not have the raw numbers in it? hmmm...
well there's our 4% GREEN close at .75 :)
so test the .80s today or just hold the steady 2-4% climb to .75? hopefully we keep some good buy volume. the chart is just a thing of beauty!
Yeah thats what I think - Lorenzetti out and Durrant in IMO. If that's the case, then Seawind has already approved him for the board. Or will at the special meeting. Our boy T Durrant has gone by the book so far and we've got quite a bit of DD on him. So I like that a lot more than a D Lorenzetti that no one can find :) PSPW
well there the NT-10K
thanks, thats a good update
So someone could call the TA and ask the time frame for the transfer of shares. I'm tied up so I can't right now. PSPW
buying and selling the new shares with the new CUSIP is fine. bought a few yesterday at .61 to top off my position and put in a sell to make sure it works. that's with scottrade at least.
my scottrade is showing everything normal. who is your broker?
Thats a company PSD, not the exchange that PSPW is listed on. I thought we cleared this up already, right?
haha SHO, rather. PSPW
I would agree. STILL on REG SHOW list, if we can hold the .50s while NITE holds this back, we may see a nice squeeze if news or update on timelne comes by the end of the week.
my scottrade has said 3power for awhile now. PSPW
#2 on the active list! haha. The company has released 8ks and PRs close to each other lately. Not always, but IMO we see a PR by the end of the week.
Also, imperative that we hold the .52 200MA. I've got a little powder free today, but more tomorrow. GO PSPW!
yeah you're right, does look different. i jumped the gun :)
That's our boy Banto alright!
ahh you beat me to it!
Actual
20,498,638 (from 8k) + 6,639,063 (shares to Bankok Solar) = 27,137,701 total shares Rudana owns
Our Estimate
40,114,900 *.69 = 27,679,281 (what we assumed Rudana had)
27,679,281 - 27,137,701 = 541,580 our estimates were off by
MAKES SENSE IMO! GO PSPW!
Haha not sure what you mean, man. I've got a few friends in with me but we're all pretty small time at 15k or less. less. wish i had some hot connections though...
Doing some digging here on our 5th board member, Diego Lorenzetti, but I can't seem to find anything solid. We know he is/has been "nominated by Rudana subject to acceptance by Seawind" (see one of the 8ks). The only thing I can find is a lawyer in Milan with the law firm K Studio Associates (2nd result on Google) but that's unlikely. http://www.linkedin.com/pub/diego-lorenzetti/12/baa/837
Obviously, a Rudana connection is the most likely b/c he's been nominated by them. I've been looking for any connections with Falaknaz, Capital Trust, DFD Select, Religare but I haven't found anything.
Board member link: http://www.3powerenergy.com/team-boardmembers.html
Any leads?
PSPW still on REG SHO threshold list for Friday 3/25. NITE probably way short and manipulating. whats new, right? haha
I know what you mean, but I think you'll have to be satisfied with circumstantial confirmations like some that have been discussed here until we hear it directly in a PR or see assets in a filing.
Have you seen the video of Rudana actually signing the multi-billion Euro deal with the Albanian government? I don't have the link with me here at work, but I believe Auggie originally found it, and its somewhere in the big DD that Choi put together.
yeah, already over a 3 bagger from my average of .165 and i'm not selling anytime soon :) PSPW is gonna make my year!
agree, we need to base above the .53 200MA on the daily chart
Hey did anyone see this? 3Power Energy Group Inc is now reinstated on the Nevada SOS website as of 2/11/11. And as of 3/18/11, the authorized shares are 300 million! Looks like news may come soon IMO, cause 3/18 was just this past Friday :) GO PSPW!
link: http://nvsos.gov/sosentitysearch/corpActions.aspx?lx8nvq=edQVDEOyd14Pu94MlD0CQA%253d%253d&CorpName=3POWER+ENERGY+GROUP+INC.
you know, that website could have been created by a basher or somebody looking to drive PSPW down. IMO, crpmerchant.vpweb.com isn't associated with CR&P Holding S.p.A. If you google it, the site comes up with "Bellaire, TX" in the results. Whats in Bellaire? I have no clue but if you look at the source code, "Bellaire, TX" was purposefully placed in the meta description.
This does not influence my confidence in PSPW or the merger, I just think a basher spent $4.99 and put it together IMO