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No need to panic as these things cannot do anymore damage than what has been done already. WWEI should start addressing these only when things related to the projects move in the right direction. Otherwise why bother?
If & when things move, then they should address the website, SEC Filings ... etc.
My Honest Opinion
grajee
Novel Designs Are Taking Wind Power to the Next Level
http://www.technologyreview.com/news/510481/novel-designs-are-taking-wind-power-to-the-next-level/
Honestly,I dont know how much the Shell of a Company would be worth. Even if they did sell would the new organization listen to the existing investors? I guess not. The existing investors would not even fit into their scheme of things.
I would like to think that there is still hope for the company to get back the Zhinjiang project and the reason why the McNabbs would still be involved.
Read something similar few weeks before and this one is more recent.
Considerng the turbine prices have fallen it would work in favour of WWEI if the project comes through:
http://europe.chinadaily.com.cn/china/2013-01/15/content_16117264.htm
Thanks,
rgn
I do go through the posts once in a while just to see if people are active. I think the McNabbs trusted the wrong people. These things do happen but what aggravated the situation is the fact that almost all of them were chinese besides the project also being located in China.If the problems were to happen in a democratic society then things would have settled much earlier.
It is good that they are not issuing any PRs and it is good they are not current with the SEC filings. What purpose does it serve? In my opinion, shutting down the website also makes sense. What new information are they going to provide? To that effect, people like Robert Bragg et al were a waste of time & money.
Honestly, I dont know what is going to happen. Overall, it is risky being involved with the Chinese.
Today is also the Chinese New Year Day.
http://www.telegraph.co.uk/travel/festivalsandevents/9856088/Chinese-New-Year-festivals-the-Year-of-the-Snake.html
Thanks,
grajee
I too think that WWEI is not a scam. If Larry & Co were running a scam show then they would have increased the shares and made more money inturn by selling them.
I think Larry & Co were taken for a ride by the Chinese. It has happened to lot of Indian companies doing business in China. The Chinese philosophy is "What I have, I will keep, where as what you have we will share". This is evident in the way the country deals with Border issues with is neighbours.
http://www.bloomberg.com/news/2012-03-15/china-corporate-espionage-boom-knocks-wind-out-of-u-s-companies.html
I hope something works out soon. I have been in this for way too long.
aandt, should your email or their response supposed to mean something? They only say how YATU and ENGAA are related and what products they had and what they currently have.
They dont say anything about WWEI or any of their projects. I'm only trying to state the obvious.
I dont think it applies to WWEI since it is a Canadian Company.
In a way, I understand their inability to communicate. Meaningful communication will happen only if the Chinese Govt has comitted on any deadlines. Every time they have taken a step forward they have been made to take 2 steps backward.
if there is no news forthcoming for themselves from the Chinese Govt how does one expect them to communicate with the rest of us? Imnagine if they have to put out a PR frequently which states "we are yet to Hear from the Chinese Govt"!!!
Having said that today we are talking about Mongolia project because it was issued in a PR which I think was a bit premature. They could have waited for sometime before issuing a PR about the project.
When was the Mongolia PR announced? In 3rd or 4th quarter? If it was announced in 4th quarter then it wont warrent any mention in this filing.
Also, there was a PR about the opening of an office in HK and even that is not mentioned anywhere. So, I'm thinking that it might show up in the 4th quarter.
If it is a hoax, they would have sold lot shares when the PPS was better and would have closed down the show - I think it is the easiest thing that they can do.
Having said that, Since they are dealing with the Chinese govt they themselves r not clear inorder for them to give some dates. They were overly optimistic in the past and looks like they now have realised that they have to be lot more conservative.
However, the first PR about Inner Mongolia was uncalled for if they were not sure and this filing is indeed disappointing for the lack of any news about it. I always felt that news about it was put out a way bit too prematurely. They could have waited for few more months atleast.
I mean to say that if there is negative news they wont with hold it - Someting which I like.
I think the McNabbs have come out with negative news in the past too at a time when the investors were expecting very good news. Remember the time when one of the deals fell through since the chinese company was looking for a majority stake in WWEI?
Even if there is no development this year I wish they atleast issue a huge PR explaining the status quo.
News or No News, the filing has to be done because of regulatory requirement. With things looking good, I dont think they will delay further. Once the filing is done they can focus on things that are lot more important since the filing has no other value other than the need from the SEC. Besides, given that the company has not yet started making company the filing will have nothing new to add.
Had it been a revenue generating company then it would have been a different story altogether.
Let us hope this is last filing before the real news (PPA) comes out.
His agenda is to paint WWEI in a bad picture and scare the investors away. He should be Ignored.
I think it is the other way down. It is a viable company long term but in the short term as we have seen over the few months it has(is) not been viable. My Opinion.
Me too. Way to Go.
The keyword here is "Hopefully". It may come in 10 days or it may not. I'm only trying to make sure that we dont get disappointed after 10days of waiting.
Just wanted to convey that beyond a certain limit one cannot be sure.
Despite the delay I agree fully. I believe the McNabbs and the Management is putting in lot of sincere effort to get this going.
One if one of the deals comes through I'm sure it will gather lot of attention as was mentioned in of the PRs
Let us hope better days are ahead.
Gopi
The Inner Mongolia project was indeed a surprise and atleast I was not expecting it though I'm invested in WWEI since 2007. The good thing is that they also got the Finance Arrangement in place in a few days where as I was expecting it to take anywhere between 2-4 weeks.
I hope they announce the final deal also pretty soon. I'm confident that in the next few weeks even Zhanjiang news will be out.
Once they get a stonghold of one project I'm sure they will venture into others as well.
I'm long on WWEI and I have no intention of selling my shares. Despite the delays in the schedule I like the management (McNabbs) since they have done a pretty good job by being comitted to the projects. I'm not saying that everything has gone right but given the economy and all that I think they did pretty good.
As I said before, if my guess is right, the HK office will be used to acquire more projects in that part of Asia
Dont think LOW10 requires an answer as he seems to be here with a different agenda.
PR concerning Finance Arrangement was announced last evening post trading hours and the reason why there has been so much of trading today.
Dont know when the next set of PRs will be announced. But the office at HK, I guess, assumes lots of significance as it would become like a staging area (kind of Asia Theater) for lot more things to come.
I believe too that it is going to be Debt Financing because given the PPS at what it is now how can WWEI get Equity financing? Shouldnt the PPS solid or they should increase the A/S by many millions. If they do that then the PPS will be all the screwed.
My guess and I'm no finance guy.
In the past, all PRs get uploaded to the website after 2 days which is how ur seeing the PR in the website now.
Rob had emailed about some TV advertisements that the company that he is currrently representing is going to come up with. It was nothing about WWEI
Probably the PR meant 10 working days?.
I cant comment much about WWEI anymore without knowing what is going on. I'm disappointed just as everyone else and I sent WWEI an email only this evening and I hope to hear from them soon.
Besides how many of us have time for crooks and criminals?
Got an email from WelWind management.
Got a mail. 10Q will be filed today/tomorrow.
grajee
There were few times in the past that WWEI had filed for an extension but none of those times has it been taken off of OTC and placed in Pinks - Thankfully.
I guess the problem is, if I can recollect chatting with someone correctly, that they dont have a management staff as of yet to handle these things. Even the PR was addressed by Tammy herself completely in the beginning and between those times WWEI was left without a PR agency. I guess this is the reason why.
At a time when the projects and finance are not in order it makes sense to keep the expense low.
Honestly, at this time, I'm least concerned about they filing because I know they will. My anticipation is more towards the Projects. I just hope we hear some very good news soon.
My take is that the approval they would get would be comprehensive. So, the next PR will be something in that direction meaning we will get some details at a very higher level and the next PR will contain deadlines,schedules and specifics... etc. Once again this is my guess.
If it turns out this way alteast if not better I hope the management will seize the oppurtunity and make full use of it.
I believe they are in China though I have no way to confirm that. Neverthless, I will stick to my expectation - the next PR will be in December.
They filed for an Extension.
I had a good laugh last weekend at the market presence the Atomic Dogg enjoys. I called up one of the retailers listed in the HFBG website wanting to check if they have stock.
The person at the store sounded very confused. So much that he asked me "What is Atomic Dogg? Is it Dog Food?". I told him that it is an energy drink and disconnected. Right after, I was laughed my Ass Off.
Even if they had made Dog food they would have done better :)
U.S. Wind Energy Projects
http://www.awea.org/projects/
Clicking on each state lists the projects.
grajee
http://www.nrel.gov/wind/pdfs/22223.pdf
WIND RESOURCE ASSESSMENT HANDBOOK
China could meet its energy needs by wind alone
http://news.harvard.edu/gazette/story/2009/09/china-energy-needs-wind/
China has become second only to the United States in its national power-generating capacity and is now the world’s largest CO2 emitter. “The world is struggling with the question of how do you make the switch from carbon-rich fuels to something carbon-free,” said lead author Michael B. McElroy, Gilbert Butler Professor of Environmental Studies. “The real question for the globe is: What alternatives does China have?”
A team of environmental scientists from Harvard and Tsinghua University has demonstrated the enormous potential for wind-generated electricity in China. Using extensive meteorological data and incorporating the Chinese government’s energy-bidding and financial restrictions for delivering wind power, the researchers estimate that wind alone has the potential to meet the country’s electricity demands projected for 2030.
The switch from coal and other fossil fuels to greener wind-based energy could also mitigate CO2 emissions, thereby reducing pollution. The report appeared as a cover story in the Sept. 11 issue of Science.
“The world is struggling with the question of how do you make the switch from carbon-rich fuels to something carbon-free,” said lead author Michael B. McElroy, Gilbert Butler Professor of Environmental Studies at Harvard’s School of Engineering and Applied Sciences (SEAS).
China has become second only to the United States in its national power-generating capacity — 792.5 gigawatts per year with an expected future 10 percent annual increase — and is now the world’s largest CO2 emitter. Thus, added McElroy, “the real question for the globe is: What alternatives does China have?”
While wind-generated energy accounts for only 0.4 percent of China’s total current electricity supply, the country is rapidly becoming the world’s fastest-growing market for wind power, trailing only the United States, Germany, and Spain in terms of installed capacities of existing wind farms.
Development of renewable energy in China, especially wind, received an important boost with passage of the Renewable Energy Law in 2005; the law provides favorable tax status for alternative energy investments. The Chinese government also established a concession bidding process to guarantee a reasonable return for large wind projects.
“To determine the viability of wind-based energy for China we established a location-based economic model, incorporating the bidding process, and calculated the energy cost based on geography,” said co-author Xi Lu, a graduate student in McElroy’s group at SEAS. “Using the same model we also evaluated the total potentials for wind energy that could be realized at a certain cost level.”
Specifically, the researchers used meteorological data from the Goddard Earth Observing Data Assimilation System (GEOS) at NASA. Further, they assumed the wind energy would be produced from a set of land-based 1.5-megawatt turbines operating over non-forested, ice-free, rural areas with a slope of no more than 20 percent.
“By bringing the capabilities of atmospheric science to the study of energy we were able to view the wind resource in a total context,” explained co-author Chris P. Nielsen, executive director of the Harvard China Project, based at SEAS.
The analysis indicated that a network of wind turbines operating at as little as 20 percent of their rated capacity could provide potentially as much as 24.7 petawatt-hours of electricity annually, or more than seven times China’s current consumption. The researchers also determined that wind energy alone, at around 7.6 U.S. cents per kilowatt-hour, could accommodate the country’s entire demand for electricity projected for 2030.
“Wind farms would only need to take up land areas of 0.5 million square kilometers, or regions about three-quarters of the size of Texas. The physical footprints of wind turbines would be even smaller, allowing the areas to remain agricultural,” said Lu.
By contrast, to meet the increased demand for electricity during the next 20 years using fossil fuel-based energy sources, China would have to construct coal-fired power plants that could produce the equivalent of 800 gigawatts of electricity, resulting in a potential increase of 3.5 gigatons of CO2 per year. The use of cleaner wind energy could both meet future demands and, even if only used to supplement existing energy sources, significantly reduce carbon emissions.
Moving to a low-carbon energy future would require China to make an investment of around $900 billion (at current prices) over the same 20-year period. The scientists consider this a large but not unreasonable investment given the present size of the Chinese economy. Moreover, whatever the energy source, the country will need to build and support an expanded energy grid to accommodate the anticipated growth in power demand.
“We are trying to cut into the current defined demand for new electricity generation in China, which is roughly a gigawatt a week — or an enormous 50 gigawatts per year,” said McElroy. “China is bringing on several coal-fire power plants a week. By publicizing the opportunity for a different way to go we will hope to have a positive influence.”
In the coming months, the researchers plan to conduct a more intensive wind study in China, taking advantage of 25-year data with significantly higher spatial resolution for north Asian regions to investigate the geographical year-to-year variations of wind. The model used for assessing China could also be applied for assessing wind potential anywhere in the world, onshore and offshore, and could be extended to solar-generated electricity.
Yuxuan Wang, associate professor in the Department of Environmental Science and Engineering at Tsinghua University in Beijing, also contributed to the study. The team’s research was supported by a grant from the National Science Foundation (NSF).