Natural Gas Report is out and the expectation was for an increase of 69bcf but we came in at 66bcf. That is less than the 5 year average injection for this week and 18bcf higher than last year. This will help to reinforce a NG price staying above 3 in my opinion.

Short interest numbers have been updated. Small decrease in short shares

In my opinion some short covering helped move the stock up but new positions are the walls we keep seeing. I think a couple million shares have been shorted in the 5's, potentialy those that originally covered in the 4's.

Chesapeake Energy Corporation



Short Squeeze Ranking™
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Daily Short Sale Volume
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Daily Naked Short Selling List
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Short Interest (Shares Short)
170,388,700

Short Interest Ratio (Days To Cover)
4.8

Short Percent of Float
19.35 %

Short % Increase / Decrease
-3 %

Short Interest (Shares Short) - Prior
175,224,000

Natural gas report came in with a higher injection than expected. A bearish move for Natural Gas. Expectations were for 90bcf.

Last year the injection was 82bcf so this was the first week in a while that the injection season outperformed last year.

IMO we are seeing new Short positions opening in the stock. This has lead to profit taking and stops being taken out.

Last report showed a sizable decrease in short interest and I would not rule out a new round of investors attempting to short the stock. A bad move in my opinion but so far the stock has shown that 5 dollars is a massive resistant point so the short has some safety here.


Short Interest (Shares Short)
175,224,000

Short Interest Ratio (Days To Cover)
2.5

Short Percent of Float
19.90 %

Short % Increase / Decrease
-11 %

Short Interest (Shares Short) - Prior
195,912,400


Will be interesting to see what the next short report shows.

Not exactly accurate but I was off a bit as well.

First time I looked to short was 5/16 and the stock was around 6.60, but ran to 7 within minutes of open. For that reason I am wrong within minutes and it was technically mid 6s and not 7 that I started looking.

My posts are saved in Investor Hub so anyone has the ability to confirm.

Unfortunately not yet.

The current lending rate is down to 99% so the shares are continuing to open up for MM.

I would have loved to had shorted when I started talking about it in the 7s and 8s but it was not possible.

I will continue to keep an eye on it for some more PR fluff and opportunities. I hope they can get another great rally to 7 or 8 this year while MMs continue to build an inventory. The move to the Nasdaq takes time to get inventory of shares for MMs.

I would not look at this as a positive. BLNK does not have the cash flow or operational prowess to handle a global operation. This is a puff peice to help the share price from further crater.

Even if they pick up a true partnership here, how many millions of shares will it take to fund it. How small will your investment become due to dilution?

Yes new shareholders in 2019 or 2020 may do well but today.....Its bad news for current holders.

Now had they announced DSPone was investing in BLNK, well that would be monumental since the dilution machine would slow down.

See you in the 4s next week.

Natural Gas Report out and another bullish report for NG prices.

Working gas in storage was 1,817 Bcf as of Friday, June 1, 2018, according to EIA estimates. This represents a net increase of 92 Bcf from the previous week. Stocks were 799 Bcf less than last year at this time and 512 Bcf below the five-year average of 2,329 Bcf. At 1,817 Bcf, total working gas is within the five-year historical range.

The storage report showing +92 Bcf would compare with +106 Bcf last year and +104 Bcf for the five-year average.



It is also 6Bcf below expectations.

We continue to see the deficit of YoY and 5 Year average increase....3 dollar plus NG prices, here we come.

My statement was accurate based on context. I was referring to asset value which does not take into account the installation cost. Since the stations were already built when purchased for 3.3m the birthing charge as you stated cannot be used in accounting. If someone chose to set a value there it would be an intangible asset since they do not own the concrete workers, the electrician, the permit for any further use or the location itself. They would be mostly services that no longer hold a true asset value.

You make a good arguement but it would be related to building new more than todays value on the books.

It does however further lend understanding to why people think it will cost 100s of millions to replicate the network though.

Below is from an article on the cost to purchase and install a Business charging station:



I would press hard on your arguement for value here based on installation costs if the units were generating profit but they are mostly lossing money since installed. Regardless of the installation cost, the locations and units hold near 0 value if they cannot operate with a profit. BLNK is likely to lose 100m from 2017 through 2019. That is almost the cost to build a brand new state of the art charging network.

I can explain the 100s of millions to replicate statement. I do not agree with the thought but below is an explanation of cost:

Blink (pre bankruptcy) built the network of charging stations through Government grants and Private investors. The grants alone were about 114m while the remainder was private investment.

The problem with the theory is today's cost structure compared to that of 10 years ago. The charging stations cost just a fraction of the cost a decade ago. Also the locations are subject to opinion with regards to value. Considering that Revenue is rather non existant with regards to a per station generating structure, most of their locations are loosing money locations so they hold no real value.

Lastly as for the obsolete question, well most of their network is end of life. In fact I would anticipate about 90% of their units are at this point fully depreciated and that is the reason for near no asset value. They are 5-10 years old.

IMO why BLNK cannot grow in todays Market is the lack of charging outside of the home. It could be years till the EV market grows to a level that the charging stations will be used commonly. With BLNK losing millions of dollars a year, they will need to continue their massive dilution campaign to survive or file Bankruptcy for a second time.

EV cars are less than 1% of the market and over 80 of the charging is not public. Add to that BLNK only has a piece of a market with massive competition. With that the competition is now growing with competitors that have billions to spend. The electric companies are now planning to jump into this space and spend billions. Also their is talk of big oil getting in a well. BLNK cannot compete here and their buy out is not 150m so the stock would need to drop 50%-75% to be a buyout target in my opinion. Lets be honest, Big Oil can open as many stations as BLNK for about 10m. They have the infrastructure and the charging stations are relatively cheap now. Yes 10 years ago a charging station cost a fortune but today they are cheap. As for a cloud application, well that's an easy million in development cost and its done. BLNK's app is near worthless.

Here is an article to show that the Electric Companies plan to flex their muscles and take over the space......They do speak of private investment so I would not immediately rule out BLNK as getting some of it but I doubt it based on its bad reputation.

https://www.msn.com/en-us/news/technology/three-us-states-will-spend-2413-billion-to-build-more-electric-vehicle-charging/ar-AAy7tdO

The question really is, can BLNK hold out a couple more years to see some of this money trickle down to them or will someone else jump in and capture this market with 10x BLNKs capital. No one can really answer the question but it is clear, competition appears to be getting tougher in this already crowded space.

This PR piece is not too friendly for BLNK

https://finance.yahoo.com/news/blink-charging-co-stock-not-182710552.html

Natural Gas report is out.

Natural Gas up to 2.95

I think the market could be waking up to the real problem here. The dilution is outpacing the benefit which means shareholders are going to lose. Yes they dilute to build like many do but the business model has been proven to fail. 10s of millions if not over 100 million in money from dilution over 24 months but the revenue has gone down while operating income losses have increased.

Lets consider the amount of new EV cars that hit the market since they bought the assets in bankruptcy court.


2018 - 55,267
2017 - 199,826
2016 - 158,614
2015 - 116,099
2014 - 122,438
Total increase in electic cars since 2014 - 652,244

Now lets look at the revenue to see if more cars equates to more business

2015 - 1,096,057
2016 - 512,341
2017 - 1,045,671
2018- Q1 300 dollar increase in revenue

As you can see they do not appear to be benefiting from the increase in car sales. Though the EV sales have almost doubled in size from 2015 to 2017, the revenue is down slightly.

Q1 of 2018 showed a minor .1% increase in Revenue (300 dollars)


Next is loss from operations...this one is really bad:

loss from operations

2015 - 11,319,794
2016 - 7,212,908
2017 - 7,422,645
2018 Q1 - 3,801,939 (15,207,756 this year if it keeps up)

The only reason BLNK has not filed bankruptcy yet again is selling shares to market to pay for the non stop millions beeing drained by operatoinal losses that are increasing as new EV's are being sold.

Cherry picking PRs and large stock sales into the PR release is known as pump and dump.

I have unloaded 5k shares so far. First sell was at a low 3.3 for 2k shares.....That one hurt but I did unload 2k at 4.7 so not too bad there. Another 1k at 3.95......Luckily all for nice profit.

Looking to reload the 2k from 4.7 once it shows a floor. Still holding just over 10k shares so trading around a core position seem best with CHK right now.

I still see this as a much higher stock in the years to come but it could take a couple more quarters to show they can get cash flow positive and debt a bit more under control. Natural Gas over 3 dollars would help a lot.

So far the last 2 Natural Gas reports have shown the injection season is starting ok. This will unfortunately keep a lid on the Natural Gas prices.


The EIA reported a +91 Bcf change in storage for the week ended May 18. This brought storage to 1.629 Tcf. It compares to the +75 Bcf change last year and the +89 Bcf change for the five-year average.

Last report did show a large increase based on YoY and 5 year average.

New short interest numbers have been released.....It went UP...The rally in the stock was not short covering.



Short Interest (Shares Short)
195,912,400
Short Interest Ratio (Days To Cover)
5.9
Short Percent of Float
22.25 %
Short % Increase / Decrease
2 %
Short Interest (Shares Short) - Prior
191,989,500

Contrarian views on a stock are very healthy. The old saying of dont marry a stock makes sense. Understand when to get out means just as much as understanding what to buy.

Many if not most made a boat load on BLNK but I think you know my position on further upticks and its future so understand what you own is important.

This is a great article to help understand why Ecotality went bankrupt even though the government paid for half of the stations for them. It explains the demographic and usage of EV with regars to charging stations.

https://cleantechnica.com/2018/03/07/stop-comparing-number-gas-stations-ev-charging-stations/

It helps tremendously when wondering why the assets are so low. I think we all could not understand how the assets could be a couple of million but yet many thought the company was worth 100s of millions.

The concern remains with the staff though.

Their Investment relations firm is Constellation Asset Advisors. That firm is owned by Jens Dalsgaard.

This guy was fined by regulators for $15,000 for secretly trying to arrange a short squeeze in Diana Corp. Also he got in trouble while working at Redwood Consulting. Below is part of disposition:

Like that is enough he was also tied up in the SPYR scandal that the SEC and DOJ stepped in since it was a pump and dump fraud.

Here is the break down:

Add to this it appears that 350 Green was about 80 units. Of which they lost some on a lawsuit loss this year and the stations reverted back to the property owners. Lets say 350 Green gave them another60 units.

I would thik BLNK is still installing the units in inventory since the inventory+installed+350 Green= more units than advertised as having.

Their competition back on October 2013 (dont know the count today)

I can finally help quantify your statement of it could cost hundreds of millions to replicate Blink.

Now to be fair I read this was done during Ecotalities bankruptcy and that is why they purchased it all for 3.3m.

Next the units were built with 114m in government grants and a matching amount in private investment. Best I can tell the project started in 2009 and went bankrupt in 2013. At that time Car Charging group bought the Blink charging stations. That means the units range from 5-10 years old.

ECOtality listed $38.9 million in assets and $108.2 million in liabilities in an Oct. 1 bankruptcy court filing (PDF). While Car Charging Group didn’t disclose its purchase price for ECOtality’s Blink assets, news reports cite Dow Jones as stating that the Car Charging subsidiary Blink Acquisitions bid $3.3 million for the assets.

Natural Gas is making a move, its 2.88 currently and with any luck it will break the 3 dollar mark this summer.

70 dollar oil and 3 dollar Natural Gas should help the CHK rally continue. Though a huge portion of revenue is hedged and locked, they will still benefit by higher prices to a percentage. It will also allow for them to make new hedges much higher for 2019

Still no short shares available.

Another pump came out this morning that over 88k more people download their APP. Odd thing is, the number is for downloading the app and not neccessarily revenue generating. Many of those adds are already baked into their financials so it should mean little in future Qs.

Also I might have found why their appears to be a discrepency in their charging stations number:

How many stations did BLNK lose?

They do sell it today but the revenue is really low. Product sales were 135k last quarter and that should include their home installations.

The company can adapt and can install the newest technology at all locations and at homes. The issue is valuation against old systems. BLNK has very aged equipment as far as I can tell. For that reason their fixed assets are low and the machines break down a lot with high cost in maitenance.

These are some of the arguements against a large valuation. There is a lot of competition in the space already and based on customer reviews it appears BLNK is hardly the top spot.

Though I must give credit to Frakis. With listing this on the markets, unlike the competition, it allows for huge funding in share sales. Bad for stock holders but good for BLNK management.

Johnny you are placing an intangable asset value to the stations based on opinion. I would look to intangable assets for what you are mentioning. There is no set tangable value to the location it is placed but rather a fixed asset value to the equipment and cost to place there. Intangable assets are 103k so it would be fine to add that to the fixed asset value.

Please look up reviews of BLNK and you will see many consider them to be the worst in the industry. This is not neccessarily the fault of management since they got most of the stations through a bankruptcy purchase. BLNK originally filed bankruptcy and was purchased by Car Charging group for 3.3m. Later they renamed back to Blink

From most reviews I read Chargepoint is seen more as the premier and BLNK is seen as poor quality. Please review customers statements to get a better picture of why the company might be valuing their stations so low. I am guesing, yes it is a guess, that they have depreciated the value to near 0 on most stations.

Also I am not sure about the 15k. BLNK themselves state in their filings that owners of stations can list on their network, can have BLNK service their stations or have BLNK install stations on their property. For that reason we have no true idea of how many stations are owned and how many are simply listed on their site and getting a Network fees number.

The strength in the stock is quit surprising and I am happy it has given longs the opportunity to profit take. Nothing worse than a nasty pump and dump that destroys peoples accounts. This one has been impressive and allowed for money transfer. Congrats and I hope everyone made a fortune.

No statements made are with intent to make the stock move south and to be fair millions of dollars daily are flowing in an out of the stock so our comments make no difference in price.

Based on all analysis I can find, the stock is not worth the price and most analysis I do shows it worth around 1 dollar. I will look again today to see if shares are opening up to short but as of the other day they were still at 450% lending rate...Not really a smart short.

Also I do not think most shares held by Farkis are able to be sold. Many if not most are still restricted. For that reason, no surprise the insiders are still holding.

Last point is with regards to going higher, I see nothing in the financials, the companies growth, their profit, their business expertise or even in the industry that can point to a higher price. You will find many arguing in many directions for why these stations have little to no value. High cost of maintence with very little ROI. Again home charging and wireless is the future. BLNK has little to no exposure in both categories.

I understand your point but we do not know how many chargepoint or how many Blink stations are owned and operated primary from the network providers.

I do wish both were clear on their statements but neither is so I cannot say its apples to oranges or oranges to oranges

Blink does not own all of the stations either. It says so in their filings.

It also says so on their site but its unknown how many are owned and how many are just part of the network. I cannot find any info on that.

Blink Charging offers electric vehicle (EV) charging equipment and access to our proprietary cloud-based EV charging network (“Blink Network”) to businesses, property owners, and property manager (“Property Partners”) across numerous location types, including:

We offer our Property Partners with a flexible range of business models for EV charging equipment and services.

Not correct and the largest one was built with $150 million in captial.





Charge point is now up to 49,342. The article I took this from was old.

BlNK only has 3,986.....Very tiny in comparison

This is not what the producers or consumers are saying.

You might want to tell Plugless and Qualcomm their advertising and spec sheets are all false. They are claiming it is 90+% efficient compared to plug in.

CHK is killing it today. WOW

My portfolio is looking sweet. Too bad I took a little off the table at 3.30...AAAHHHH

Oh well taking profits is always nice even when too early. Bulk of the shares are still riding...Go CHK

Jonny I am afraid your estimations are way off.

Wireless is here today and selling already. Not sure why you think it will be 30 years. Tesla has already stated they are now working on all new designs to already have wireless charging capatability.

https://www.pluglesspower.com/learn/plugless-customer-reviews/

This is the reviews of people that purchased and installed wireless charging at home for their cars. It is estimated to be 10% less efficient. I think you will find most are willing to loss the 10% so they no longer need to worry about plugging in.

You are correct it will not be overnight but within the next 12-24 months, wireless stations will begin popping up. Possible early than that to be honest. They key is the automanufactures and not the technology. With Tesla already on board with putting wireless charging in all cars, we are right around the corner.

This is a bad catch 22.

First why would you buy an EV if you cannot charge it at home? The risk outways the reward.

Next why would you install charging if there is little to no one that needs it. Risk outways the return.

In my opinion it goes back to wireless charging. Once that can happen in a wider capacity in a parking garage, I do not see Apartment associations and owners flipping the bill to install. Now BLNK could find a market with free install and making money off the service but how many years could it take to break even.

Again a good point to value but likely years away so not sure it will make a difference for investing today.

BLNK is a service provider and not the manufacurer or owner of the technology rights. Can they wait the years to get the ROI without destroying sharehold value?

I cannot deny you make a great point. I had not thought much about the apartments and condos. We are talking several years still but that is a large opportunity.

Though new cars are coming that are in the price range to those in the Condos and Apartments, they are not really here today. Also without the stations first, why would someone in an apartment buy and EV? Likely they would not.

I agree with your point but see that as a 2020 to 2023 point. A little to far out for investing today since they are a service company and not an owner of the tech or manufacturing.

I still see this as a 1 dollar stock since they lack the funding needed to remain solvent beyond 6 months. I feel dilution is their true business model until they can find a way to make money of EV Charging. THeir financials show no growth in EV charging for the most part over 2 years. Below is an excerpt of an article with a similar stance that I have on EV charging and how its the home install that matters, not the remote charging stations.

Congrats on the gains. I had hoped to profit off the fall but the stock does not give that availability yet.

You profited off the rise. Always nice to hear people benefit from these kinds of pumps. You are right not to hold it since there is no fundamental reason for the stock price to be where it is. That does not mean there is no reason to profit.

For me I tend to short the pump on stocks and not risk gambling on the rise.

I hope the stock goes down but has another pump round that everyone can profit from again.

Good Luck

The supply will open over the coming months and I would expect it to have a dramatic effect on balancing the pump.

I would have loved to benefit from the run but I do not gamble when investing. We all know the stock is worth less than half its trading price. Trading it based on hype is gambling.

Their financials show no progress in growth. 3 Whole foods stores for 2018 or a couple of parking garages does not warrant a 1 million dollar increase in cap so FORGET about the 100m increase the pump resulted in.

I remain confident the stock will trade under 1 dollar later this year. Though they are making tons of money selling shares, they are making no money running their business and making no headway to grow.

The supply will open over the coming months and I would expect it to have a dramatic effect on balancing the pump.

I would have loved to benefit from the run but I do not gamble when investing. We all know the stock is worth less than half its trading price. Trading it based on hype is gambling.

Their financials show no progress in growth. 3 Whole foods stores for 2018 or a couple of parking garages does not warrant a 1 million dollar increase in cap so FORGET about the 100m increase the pump resulted in.

I remain confident the stock will trade under 1 dollar later this year. Though they are making tons of money selling shares, they are making no money running their business and making no headway to grow.

The run may continue since it is still impossible to short. No way to play the crash still.