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Sorry Choi, but I may have posted the link to your board earlier today. People were excited to be a part of it, and I saw that you had created it, and felt I should inform them of its existence.
Bank Julius Baer & Co. Ltd. is the entity representing Rudana's original shares on the ownership list. Both are in Switzerland, and the share count is identical to the # listed in April 15th's 10-K.
What remains to be seen is whether there IS any connection between Rudana and Viewpoint. From the wording in the 8-K, Viewpoint is portrayed as a separate entity entirely, but perhaps we will get an update soon to clarify any connection or lack thereof.
P.S. Schekin, I can't reply to your messages, but as you can see, I now understand the point you were trying to make.
What is the relation between Viewpoint and Rudana?
From my understanding of the 8-K, Viewpoint Investment Corp. was a 3rd party involved in negotiations between Seawind and PSPW, and was getting paid for the work done in this process.
One of the many things that was cleared up 100% in the 8-K, is that those missing 7 million shares from Rudana didn't get sold to another single group. While Bangkok Solar may have acquired some of the shares from the strategic investment agreement, they have most certainly not acquired the full 6,639,063.
Another question for those who may have found the answer in the 8-K while I could not. In the list of five percent shareholders on page 23, we have a total of 80,106,481 shares held. 59,607,843 of those were issued in accordance to the finalization terms for the merger. Now, if we add the 59,607,843 to the pre-merger O/S of 40,114,900, we get 99,722,743. Also on page 23, the new O/S is listed as 109,722,743. Where are those additional 10 million shares? Were they issued to someone(s)?
I appreciate any insight anyone may have into this, and apologize if it is explained in the 8-K and I'm just not remembering (afterall, 176 pages is a lot of information to take in).
On page 23 of the 8-K, it states that there are "109,722,743 issued and outstanding shares".
So, the value applied to the closing of the Seawind acquisition was $2.4 million, and they get 40 million shares? So that means that these terms were established, valuing PSPW at its 52 week low?
That is, $2.4 million / 40 million = $0.06 PPS. Almost makes one wonder if the steady decline in price was orchestrated in some way to increase the value Seawind would get out of this merger. That $2.4 million in value applied to the acquisition is already worth $78,800,000 to the Seawind Group!
Yes, but wouldn't that also mean that anybody buying and selling in a short time would be reported as a short sale if their original purchase transaction had yet to settle?
Or am I just one of the lucky ones who ends up with it showing up as a short sale for a few days?
Regarding the short sale data, does it ONLY report short sales (that is selling shares that are NOT in your possession in any way), or does it also take into consideration the sale of securities for which the purchase has yet to settle? A few times I have traded PSPW and had my sale report as a short sale until my original purchase had settled.
For example, I held shares in XXX and sold to get into PSPW that same day. The next day I was up 20% and sold my PSPW position. The resulting sale showed as a short for 2 days. Could it be that those trading the stock, that is, buying and selling same day and thus trading unsettled shares, is inflating the short sale data?
I apologize if I'm completely off the mark here, but I'm simply making observations based on what has happened to me personally while trading PSPW.
I appreciate any and all information that you/others can provide to help me further understand EXACTLY what is represented in these values.
Rookie, I appreciate your respectful, informative response, as I was simply basing my concerns on the numbers being thrown around, and the general market mentality of pricing securities in accordance with their earnings and growth.
I am simply trying to be cautiously optimistic with my expectations here, as if this has a future on the NASDAQ, I was unsure how exactly the speculative nature would be factored into stock valuations.
I felt that this was worth asking about, given the many who are discussing P/E ratios, earnings and revenue, etc. in their valuation estimates, and yet, when I mention this "current valuation", my statements are called "Longwinded Oratorial Lavatory". Everybody is entitled to their own opinion, but it is nice to get a useful response, and for that, I thank you.
Rookie,
I know the potential that exists when projects are rolled in and plant construction can begin, but I believe the use of "historical" simply means "in the past", as in, there are already revenue producing components from the Seawind merger.
On a different note, what a day! First time in my few years in the market that I've managed a 100% paper gain in a day, and I'm definitely looking forward to tomorrow and Monday! Not sure how long I intend to hold, as current expenses take priority over future profit, but I'll be looking to make as much as I can with my 3k shares until that time comes.
Now I do have a question for those more knowledgeable than I. We all know the potential that exists here, with the possibility of 2.5GW of projects to be transferred to 3Power's portfolio. However, that is what this entire merger is all about, future potential. My concern is with the current valuation of PSPW after completion of the merger. Given what we know so far, in that Seawind is receiving as many shares as Rudana holds at time of merger completion, and Rudana holds ~21 million shares, that would put us around an O/S of 61-62 million, barring any additional shares being transfered to Rudana in the merger process.
Seeing as how Seawind (as far as we know), has only minor revenues compared to the future potential from the project pipeline, even with $20 million in revenue last year, and a 50% profit margin, that'd be a $10 million profit. At the numbers being thrown around, with a P/E ratio of 17-26, that would give a market cap of $170-260 million. With the estimated share structure of 61 million O/S, that'd be a PPS of $2.79 - $4.26.
My question is this:
Given the speculative nature of this merger, as well as estimated revenues in the above "valuation" to begin with, how long do you expect the future potential to drive the price much higher before it settles down around it's "true" valuation? I am in no way trying to downplay the stock, or any of the DD presented, but it seems that so much depends on future projects, and at some point, people will begin to trade it closer to its present value, and the price will only go up significantly as additional revenue streams are established.
As narnia had already pointed out, that's the maximum power capacity in the plant. Again from Wikipedia (http://en.wikipedia.org/wiki/Wind_power ), the average capacity factor on new wind turbines in 2004-2005 was 36%, but is increasing as technology continues to improve. So in actual production for wind energy, we would expect a much lower output than the theoretical capacity.
http://www.ceere.org/rerl/about_wind/RERL_Fact_Sheet_2a_Capacity_Factor.pdf
In the above link, wind turbines have a 20-40% capacity factor range, hydro has 30-80%, and photovoltaic can be much lower. As we don't know what type(s) would be built, nor where they would be located, we can't accurately calculate anticipated revenues, but can determine the maximum revenues for the area.
But you are correct, that 58MW may actually only be an output of 10-15MW in a wind power plant, but still, just those projects once completed, would add millions of dollars of recurring revenue and that is the point that needs to be made.
The value of these projects all depends on the country, as from what I've read, PSPW will maintain control of the plants and sell electricity into the grid. Every country has their own rates, but looking at REVENUE only for the sake of simplicity:
58MW = 58,000kW
58,000kW x 365 days x 24 hours / day = 508,080,000 kWh over the course of the year.
Taking the latest values (en.wikipedia.org/wiki/Electricity_pricing) for Argentina, Chile, and Portugal, which are in the region this 58MW pertains to, and again, for simplicity, assuming we are able to sell at those rates:
Low Estimated Revenues (Argentina)
508,080,000 kWh x $0.0574 / kWh =
$29,163,792 / year
Mid Estimated Revenues (Portugal)
508,080,000 kWh x $0.1285 / kWh =
$65,288,280 / year
High estimated Revenues (Chile)
508,080,000 kWh x $0.2311 / kWh =
$117,417,288 / year
Obviously there's a lot more to it than that, but as we don't know any specifics, average price discount on power sold into the grid, profit margin in the various types of plants, etc, we can only produce very rough estimates. Anyway, something is better than nothing, right?
Go figure, I sold on Wednesday to make a 1-2 day trade elsewhere, and before I manage to close and get back into PSPW, news hits. Oh well, hopefully my measly 3k shares are worth much more in a few weeks.
Hey rookie, did your 5k shares straighten out overnight? I ended up messaging support to make sure they wouldn't sell my position. First person basically told me that's how they balance the books, but didn't explain how/why it was affecting my account equity. Second person was much more helpful, and set it up to correct my account on the next nightly update. All better now.
Hopefully PSPW treats us all well this week! Good luck everyone.
E*Trade handled the name change well yesterday, but today, it's a mess. Not only am I having the same problem with numbers showing as the symbol, but the shares I sold yesterday are still shown in my account, and my sale is showing as a short sale, leaving my account with a house call of over $2500. They better get this sorted out soon, because I'd hate to go to work and have them close my position without my knowing.
With everything going on today, it's nice to see we held up well here. I'll admit, I sold at 0.60 to pursue other trades (MBND for a $500 gain ). Tried to get back my 5k under 0.60, but the AON wouldn't fill, so I jumped back on the ask for 5k. Looking forward to potential news next week, and I swear, no more trading PSPW!
Good luck everyone!
Added 1300 shares to break the 5k share mark today, at 0.47. As long as everything continues to move forward as planned, I'll just leave those shares available to anyone who wants them for $6.50 apiece =)
I made the mistake of flipping PSPW four times in the past month. Well, I decided it would be a good idea to sell at 0.195 on Friday, after a few days of little price movement, figuring I could buy something on margin for a quick flip from after hours Friday to mid-day Monday, then get back in. I must say, that plan failed miserably. Back in at 0.451 today, after making a costly, $2500 mistake, all because I got way too impatient. Well, I won't make that mistake again barring any unforeseen circumstances. Looking to hold 'til the merger news, and hopefully I've learned my lesson.
Good luck everyone!
Well, I can't speak for everyone, but I know that I personally can't keep my money tied up at this time. I graduated college back in May, and am still trying to find a job in my field. What little money I still have, is in my trading account. I'm currently waiting on my tax return and have been working a little to make money for loan payments, but time is running out. So, for me, selling some to get my initial investment out rather than holding everything for the LONGTERM play, is a matter of necessity, as I need money available to pay bills and such.
I am hoping for a nice run shortly to minimize the number of shares I must sell to get my initial investment back out, and once I have that money out, I believe in the longterm potential here, and could hold those freebies until the share price is much higher.
And while I don't believe this to be the case here, I would rather sell half early to get out my initial investment than to hold all to the end, have the merger never go through, and end up with shares worth half what I bought them for. Different strokes for different folks after all; everybody has their own level of "risk" that they're comfortable with.
To keep my expectations more grounded for the week, I expect to sell for NO GAIN this week. However, the question remains, how many shares will I actually have to sell to get back my initial investment? Would be great to sell <5k and leave the remainder (whatever is left from 12,875) free to ride. Good luck everyone! =)
Glad I came home for lunch today. Those 10,875 shares of PSPW I picked up at 0.153 are already looking good. =)
I win! I get my shares before WDCO, and more importantly, before I leave to go back to work. Bought back the shares I flipped on Friday, not sure how I'm going to play these though. Either way, looked like a pretty good entry at 0.153, so if somebody was willing to sell, I was willing to buy.
Good luck everyone! =)
Bought 10k for a day-trade at 0.15, to help cover my initial purchase of 2k to hold to the end, good or bad. Hope those of you buying all these shares make a killing!
I hope there's more green to come tomorrow! The ~1 million shares I added today would look even better!
A few big hits at 0.0011. Would be nice to see an up tick or two today.
I've been trying to add 250k (AON) at the ask for the last 7 minutes, not filling. :(
Only filled 43,500 shares at 0.02, but I guess that's better than nothing. =)
Doesn't really have much useful information either. All I know is it needed to take a shower. Hope that computer is waterproof, HSA!
Nice day today for MCET. I attempted to buy back in a few times on the dips to the low 70's between yesterday and today, but my orders wouldn't fill. :(
I finally gave up on it, and instead got a partial fill, 250k shares of AUCI at 0.0016, so all was not entirely lost today. :)
Decided to play it safe, and sold my 0.0073's at 0.01. I don't expect it to go below that mark again today, but I'd rather not give up those gains. Hope it keeps moving up for you and the rest of the Money Runners. =)
Looks like a lot of people were waiting for it to confirm Friday EOD's bottom of 0.0075 before jumping in. Now let's get those 0.0095's up on the ask. =)
Nice. I sold MCET when the drop started, and thought it would bounce off the 0.009 mark, so I bought back in. Wish I had waited, as I could have gotten show nice cheap shares. =)
Relentless :(
Are you expecting MCET to bounce back here?
MCET - 0.0106 x 0.0107 =)
MCET starting to move back up 0.0097 x 0.0098.
Got in at 0.0096 =)
Helps make up for the bad trades I've made the past few days, that's for sure.
Done for a day or two though, so I don't get flagged as a pattern daytrader. I wish they would just let anyone trade as often as they wanted; it'd make things so much easier. Keep up the good work over here! =)
In LGOV at 0.0135, out at 0.0191. I know I could have held out for more, but it's time to make lunch, and if I've learned one thing, it's better safe than sorry. Nice call! This board is how it came to my attention, for an easy 42% gain. =)
Looking good! What's your target here?