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Indeed! Read the following excerpt from the white paper of Impactppa. Be patient ... I'm in WSTI for 4 years now ... so a couple of months more won't trouble me!
PARTNERS:
The Token-holding community of ImpactPPA not only approves SmartPPAs that are submitted to the Company, they also participate in identifying suppliers and installers of the equipment needed for a given project. ImpactPPA has an existing partnership with a renewable energy provider, WindStream Technologies, Inc., that has several projects already in the pipeline and ready to deploy. Additional partnerships will be sought and implemented in the future. ImpactPPA anticipates that it will look for additional strategic partners like WindStream as well as other opportunities that are synergistic with its vision. For example, ImpactPPA has entered into a non-binding memorandum of understanding for a potential investment into a company that runs a social media platform related to environmental social impact businesses.
Launch Products and Solutions:
ImpactPPA has developed a relationship with WindStream Technologies, Inc., an innovative leader in creating low-cost, highly efficient renewable energy solutions for urban and rural environments, both on- and off-grid. Partnership with this forward-looking company is designed to bring an immediate stream
of revenue. ImpactPPA and WindStream recently agreed to an MOU that grants ImpactPPA the right to sell and promote the WindStream products globally where preexisting agreements will not cause conflict or confusion in the marketplace.
These rights include the sharing of long term revenue streams secured under PPA agreements with governments, utility companies, or project developers for greater than 183MW’s of clean energy. The parties currently working on the finalization of the definitive strategic partnership agreement.
Have a nice day all
Theralase Demonstrates Anti-Cancer Technology Prevents Recurrence of Bladder Cancer at 180 Days Post-Treatment
Patient Five Demonstrates No Clinical Evidence of NMIBC at 180 Day Cystoscopy Analysis
Toronto, Ontario – July 16, 2018, Theralase Technologies Inc. (“Theralase®” or the “Company”) (TSXV: TLT) (OTCQX: TLTFF), a clinical stage pharmaceutical company dedicated to the research and development of light activated Photo Dynamic Compounds (“PDCs”) and their associated drug formulations intended to safely and effectively destroy various cancers has provided an update on patient five, enrolled and treated in the recently completed Phase Ib Non-Muscle Invasive Bladder Cancer (“NMIBC”) clinical study (“Study”).
The Study’s purpose was to evaluate TLD-1433, Theralase’s lead PDC, for the primary endpoint of safety and tolerability with a secondary endpoint of pharmacokinetics (movement and exit of drug within tissue) and an exploratory endpoint of efficacy.
The exploratory outcome endpoint is defined as Recurrence-Free Survival (“RFS”), which is the interval from the day of the treatment to documented recurrence or death from any cause, whichever occurs first. Recurrence is defined as any new tumour growth (i.e. any biopsy-confirmed new or recurrent tumour), evaluated primarily at ninety (90) days for the last three patients treated at the Therapeutic Dose (0.70 mg/cm2) and secondarily one hundred and eighty (180) days post treatment.
As previously reported, the Company, in conjunction with its clinical partner, have optimized the clinical treatment procedure of the Study, commencing with patient number five.
The treatment was well tolerated by the patient, who demonstrated no tumour recurrence or presence of disease at the 180 day clinical and cystoscopy assessment.
The patient has met Study endpoints demonstrating achievement of the primary, secondary and exploratory endpoints at 180 days post treatment and marks a new achievement for the Company.
Theralase’s Anti-Cancer Treatment involves the instillation of a water-based solution of Theralase’s lead anti-cancer PDC, TLD-1433, via a catheter inserted through the urethra into the bladder of the patient, to allow the PDC to be preferentially absorbed by NMIBC tumours. The bladder is then drained of the solution, flushed with sterile water to remove non-absorbed solution and refilled with sterile water via a cystoscope. A fibre optic assembly, known as a Laser Emitter emits laser light to activate TLD-1433, while a Dosimetry Cage detects the emitted laser light, used for patient safety and efficacy. Both devices are inserted through the cystoscope, with a sole purpose of activating the absorbed PDC to destroy the NMIBC tumours.
Arkady Mandel, M.D., Ph.D., D. Sc., Interim Chief Executive Officer and Chief Scientific Officer of Theralase stated, "This is just another example of the power of Theralase’s Anti-Cancer Technology and the enormous opportunity that awaits this young biopharma company. If these same results are confirmed in a well-designed Phase II NMIBC clinical study, then the Theralase Anti-Cancer Technology may very well be the next gold standard in the treatment of NMIBC. The Anti-Cancer Technology is also multi-pronged, as it can be adapted in the treatment of a wide range of cancerous targets. The "big picture" here is that the Theralase Anti-Cancer Technology is not restricted to any particular type of cancer; therefore, pending successful regulatory approval for the treatment of NMIBC, Theralase intends to bring this technology on board in the treatment of numerous cancer targets.”
Indeed, Windstream Energy is a Canadian Company and has nothing to do with WSTI! Just a word on the street.
Scary? It depends on how you look at it and whether you can see the forest for the trees!
Here's an interesting chat with Basile law firm, an eye-opener:
Mark R. Basile, Esq.The Basile Law Firm P.C./OTCWORKOUTS LLC/Cloudlake Capital Group, LLC
There are many reasons why OTC #microcaps authorize a reverse split, but some never go effective. To do a R/S without a cogent pathway to funding and increased shareholder value is a waste of time and in most instances, counter-intuitive. However, if you plan on raising real money on real terms (not Toxic debt), and have a clear path to #uplist to #NASDAQ or #NYSE, then a pre-approved R/S will make sense, and attract quality investors and bankers. Once bankers are involved, they will usually work with companies on timing of making effective a R/S. #FINRA helps.
Reply 1 of Martin A. Adamo
I think it depends on the client' specific situation. But if you are dealing with formerly toxic companies clean ups, the last thing that would be considered "helpful" would be a reverse split too early. In toxic spirals shareholders take a beating. Then faced with an almost worthless stock they face limited choices. Either sell for almost a complete loss, or hope that the original company will rebound. Then you also have people that invested on the way down or at the bottom. As soon as something goes positive, usually the first move is not one in shareholder interest (to allow the stock to rebound to a somewhat reasonable market cap) but to reverse split the stock, take the pie off the table and give it to new investors. There is really no other reason for a reverse split early, and especially in the case of companies where a big turnaround is evident. A much better move is to restructure the debts, clean up or update filings and allow the stock to reach a somewhat reasonable market cap. That process will create new wealth which could then be tapped with warrants for capital. With an energized shareholder base,, a rebounding business, capital and the ability to uplist with a reverse split.
Reply 2 of Robert Griffin
It’s also key to hire professional IR services to get the companies pitch out in front of retail investors.
Reply 3 of Martin A. Adamo
Robert have you ever seen a former toxic restructure, reverse split and uplist? I have not but just curious if anyone else has..
Mark R. Basile, Esq.
Take a look at Sysorex a Wellington Shields & Co deal. They went to NASDAQ then got taken over and went private with big bucks exchanging hands.
Reply 1 of Robert Griffin
Usually the R/S is done when the insiders have fleeced the retail traders and share price is sitting at .0001 with no bid. If you pay attention much you will see it’s done over and over again. But for some reason no project gets funded, it seems all news was fluff to sell the free trading shares. Oh wait they can also make money by issuing toxic debt notes but again nothing gets funded other than their pockets.
Mark R. Basile, Esq.
Its unfortunate that may be your experience because in our restructuring's things are a lot different. We make sure management has not sold three months going into a restructuring and as part of our restructuring's, the company approves a board resolution to not take any more convertible toxic notes and management locks up for several months after completing the restructuring, so no rinse and repeat with our clients. This is why we have remediated over $20M of debt already this year, and a lot of that, toxic debt and why a lot of lenders are referring the borrowers or issuers to us.
For me this conversation connects all the trees (Impactppa, Haiti, India, ...) and makes me see the forest now. For 4 years I thought it was turned into a desert and my money was gone. Well, it can change and how...
You're not mistaken:
Quote of Dan Bates in the interview about Impactppa @ 12.30:
“We really do not need sales business anymore, right now. We’re pretty much at capacity through 2018 – 2019 with what we‘ve got on our plate. What we need to do right now is to scale the operations, to make it more efficient, drive the costs down…”
I assume one could say the same about Windstream’s plate…
Good afternoon (Northern Europe) to you all,
Quote of Dan Bates in this interview about Impactppa @ 12.30:
“We really do not need sales business anymore, right now. We’re pretty much at capacity through 2018 – 2019 with what we‘ve got on our plate. What we need to do right now is to scale the operations, to make it more efficient, drive the costs down…”
I assume one could say the same about Windstream’s plate…
Regards
Ivan
A)Interview with CEO, Dan Bates
I had the pleasure of speaking with Dan Bates, the CEO of Impact PPA and Windstream, a company that manufactures renewable energy technologies such as SolarMills.
Cynthia: Can you tell me a little about Windstream Technologies and why you started Impact PPA?
Dan: WindStream is the manufacturer of a hybrid, wind and solar renewable energy platform, it is very scalable and can be used for on or off grid applications. There is a huge disconnect between project financing and installation due to legacy financial institutions: Work Bank, IMF, USAID. It is too lengthy and too expensive a process. ImpactPPA was set up to alleviate that problem.
Cynthia: Does Windstream manufacture the products you are currently using in your installations?
Dan: Yes, but ImpactPPA can use any renewable technology that is best suited for the project.
Cynthia: Why did you decide to use the 2 token model?
Dan: The value token, the MPQ, can appreciate in value with the success of the company. The GEN credit must remain fixed in price to the agreed upon price of a kWh of energy.
Cynthia: How are your projects going in Haiti — restoring the 42 cities power? ( its astounding they went 2 years without power!)
Dan: The first city, Les Irois, is operational. The follow-on 42 cities are being designed and engineered. We expect the installations to begin in the coming months.
Cynthia: Do you see any regulatory roadblocks in energy blockchain expansion?
Dan: We don’t know what we don’t know. This is a new landscape and as such, ImpactPPA will need to remain flexible to the coming regulatory environment.
Interview with CEO, Dan Bates
B)Bates reacts on comments
Hi, This is Dan Bates Thank you for your questions and comments. I will answer each one below and hope that this clears up any confusion or doubt. It may raise more questions which I will also be happy to address. I have answered the questions below in CAPS for clarity, not emphasis.
1)The solar/wind hybrids have to be installed somewhere. Who owns where it is installed?
THIS DEPENDS ON OUR PARTNER/CUSTOMER. IN ALL CASES THE LAND OR PHYSICAL LOCATION MUST BE GRANTED OR SOLD TO IMPACTPPA PRIOR TO THE INSTALLATION.
I saw pictures from Windstream Technologies and some where stuck up in places -- the side of what looks to be a radio tower, atop some buildings -- where one would question who owns that bit of real estate. What contracts would Windstream/Impact have in place which allows them the grant for this?
UNDER ANY PPA A CLEAR TITLE TO THE LAND, AND IN SOME CASES, LOCATION, IS CLEARLY STATED. WINDSTREAM OR IMPACTPPA CANNOT JUST ROLL INTO A LOCATION AND START INSTALLING RENEWABLE ENERGY DEVICES
Given this would operate in politically unstable areas, what's there to say they wouldn't be damaged, confiscated, or stolen and their intention for pay-as-you-go electricity ceases to exist?
ALL INSTALLATIONS WILL BE SECURED WITH THE NECESSARY INSURANCE, RISK AND CURRENCY POLICIES AND OTHER MEANS OF SECURITY INSTRUMENTS THAT INSURE THE INVESTMENT FOR IMPACTPPA. NO INSTALLAIOTNS WILL MOVE FORARD WITHOUT 100% CONFIDENCE THAT THE CAPEX IS SAFE FROM THE ISSUES STATED ABOVE.
Obviously, they would be looking to make some sort of return or profit so did either of the two people discuss with you what provisions they had in place regarding attachment and replacement? ...or is this just going to be something where it's, "Hey, they got taken. A lot of them, actually. Sucks for you".
IT IS IN IMPACTPPA’S INTEREST AND THE INTEREST OF THE TOKEN HOLDERS THAT ALL INSTALLATIONS ARE SECURITIZED. IMPACTPPA HAS ONGOING DISCUSSIONS WITH GENERAL, COMMERCIAL INSURERS AS WELL AS OPIC. WE ARE SEEKING THE BEST RATES IN ANY GIVEN COUNTRY KNOWING THAT TH RISK PROFILES ARE DIFFERENT FROM COUNTRY. ANOTHER MEANS OF SECURING THE PROJECTS IS THROUGH THE USE OF LOCAL PARTNERS. WHILE THIS WILL NOT INSURE DOLLAR VALUE, IT DOES PROVIDE A SENSE OF CONFIDENCE AND SECURITY THAT A TRUSTED LOCAL PARTNER IS OVERSEEING THE INSTALLATION: FROM INSTALLATION THROUGH TO OPERATION.
2) This is supposed to be decentralized but at what point does it become decentralized if there's hardware involved and ImpactPPA controls the means?
WHEN INSTALLINGHARDWARE, YOU ARE RIGHT, THERE WILL BE CENTRALIZED TOUCH POINT. SOMEONE NEEDS TO TURN A WRENTCH AND CONNEST THE WIRES. IPMPACTPPA IS BUILDING A PLATFORM, DEFINED IN OUR WHITE PAPER CALLES A “SMARTPPA”. THE SMARTPPA DECENTRALIZES THE PPA PROCESS BUT STILL REQUIRES SOME HUMAN INTERVENTION. WE CALL THIS A “FACILITATION LAYER.” WE WILL NEVER BE DAO BUT WE WILL GET AS CLOSE AS POSSIBLE.
3) I began looking up Windstream Technologies, where Dan Coates hails from. He was the CEO in place when the company was part of a penny stock scheme. While I believe the company has good intents in mind, are you aware of anything they have in mind which prevents the team from paying itself generously from proceeds of the ICO or from a short vesting period, which could raise concerns about if this mimics what happened in 2014?
IMPACTPPA WILL BENEFIT FROM THE TECHNOLOGY DEVELOPMENT, IP, CONTRACTS AND CUSTOMER LIST THAT WINDSTREAM GARNERED OVER THE PAST 9 YEARS OF OPERATION. ALL CONTRACTS AND VESTING PERIODS WILL BE PUBLISHED IN A SMART CONTRACT.
I saw somewhere it leveled what was a $6M valuation at one point for their business and now they're gunning for a $50M ICO with no easily visible notice on what % the team/CEO gets?
ALL TOKEN %’S ARE DEFINDED IN THE COMPANY’S WHITE PAPER. WE ARE CURENTLY SELLING 300,000,000 TOKENS IN PRESALE AND PUBLIC SALE OUT OF THE 1B AUTHORIZED. THERE ARE 330,000,000 HELD IN RESERVE FOR FUTURE PROJECTS, 70,000,000 FOR ADVISORS AND BOUNTY AND 300,000,000, FOR TEAM.
The what??. I get good intentions but that is too high and too out there in "trust us" for being vague at that point.
IMPACTPPA’S CURRENT SALES PIPELINE IS GREATER THAN 183MW’S BOTH ON AND OFF GRID REPRESENTING AN ESTIMATED 1.7B USD REVENUE STREAM OVER THE LIFE OF THE PPA’S. THE COMPANY, AS A RESULT OF ITS NEW TECHNOLOGY OFFERINGS HAS SOLVED A PROBLEM FOR ENERGY SUPPLIERS AND CONSUMERS IN DEVELOPING NATIONS, CONNECTING PROJECT FINANCE WITH A CLEAR MEANS OF PAYMENT. THIS POINT WAS ARTICULATED IN THE VIDEOS WHILE THE POINTS YOU RAISED MIGHT NOT HAVE BEEN.
PLEASE FEEL FREE TO CONTACT ME IF YOU HAVE ANY ADDITIONAL QUESTIONS. YOU CAN LEARN MORE ON OUR WEBSITE AND OUR TELEGRAM CHANNEL: https://t.me/impactppa_official I HOPE THAT THIS HAS BEEN HELPFUL.
BEST,
DAN
Bates reacts on comments
Indeed, old videos...that's why I wrote re-uploaded. Point is that someone still makes an effort and the company isn't at peace...yet.
Videos
On 11-04-2016 someone at WSTI has been busy with (re)uploading videos:
MobileMill
Corporate Video
Promotional Video
Myers Fletcher Gordon Installation
Ceamse Installation
Delroy Chuck 31KW in Jamaica
Tandil, Argentina Cristo en las Sierras
SolarMill Assembly VIDEO Top Solar Panel
Hurricane Package Kit and Setup
There still seems to be some vague life in the company!
Rsh, sorry for the confusion and not responding earlier (due to time difference: I live in northern Europe)! Anyway, after the reply of md3432 I called the I3 firm yesterday and asked them about the nature of their business relationship... there's no other connection with WSTI than the report they made about Windstream in 2010! Like Blizzld said the only fact we know for now is that Bates is indeed working with a law-firm out of Raleigh, N.C. to restructure the company.
Another subject I found was a case against WSTI, filed by LG Capital Funding, LLC. regarding "Breach of Contract"
The last item I could find about the connection with LG Capital unding is an excerpt of a 10-Q document: "On March 5, 2015, the Company entered into a securities purchase agreement with LG Capital Funding, LLC, an accredited investor ("LG") whereby the Company issued and sold to LG an 8% convertible note (the "LG Note") in the principal amount of $105,000 for $105,000 (collectively, the "LG Financing"). ..."
...just doing some digging!
regards
MD3423, You're right...I called this I3-company and they made a report about WSTI back in 2010 ... nothing more, nothing less. It's darn hard to find any news about Windstream... . Anyway, I thank you for your replies.
regards
Years? Md3423, again?...You have a most peculiar relationship with time, if I may say so! The website in its present form was created on 21 Feb 2016. I didn't have the time to find out when this webpage last was modified, though.
regards
Ivan
Since when became WSTI a client of 'i3CapitalAdvisors'? Just recently I assume! ...
"i3 Capital Advisors, a dba of i3 Financial, LLC is a capital markets consulting firm staffed with seasoned experts that provide comprehensive due diligence for institutional RIAs, high net worth investors, crowdfunding platforms, broker dealers, hedge funds and venture capital companies.
Our team of knowledgeable and professional capital market experts, in conjunction with our joint venture partners The Venture Alliance, have over 80 years of combined experience working with public and private corporations seeking to raise capital.
Our team works extensively with our referral partners consisting of institutional investors, RIAs, broker dealers and other fiduciaries by diligently reviewing and evaluating contemplated investments as a third party to insure they have an unbiased opinion before committing capital.
Through the use of TVA’s unique and proprietary Fundability Assessment & SCORE Report, we are able to provide a comprehensive report with a detailed analysis of a company’s business that highlights strengths and weaknesses within each company evaluated, as well as a score that identifies whether or not the company is ready for investor capital."
http://www.i3capitaladvisors.com/clients
regards
My apologies for my previous post... wrong board!
Publication / Attention from Wallstreet.com
For what it's worth: it's a long time ago that we had some positive publication. Maybe one of the first results from the collaboration with the law-firm out of Raleigh, N.C. to restructure the company and educate Bates in running it? Who knows...
Windstream Technologies, Inc. Revolutionizing the space in Alternative Energy.
Posted by Paul Meadow | Aug 31, 2016 | Public Companies, Technology
The Alternative energies market has witnessed a trendy innovation with an up and coming Superpower that is carving a niche in this space. North Vernon, Indiana plays host to Windstream Technologies, Inc; a Company that is focused on Air or Wind driven Alternative Technology. They have continued to create a huge International presence in the market through the sale of their SolarMills which go with the brand names: SolarMill and TurboMill. The dynamic thrust of their customer base shows they are making the right connections in very unique ways.
This Company which was founded in 2008 has continued to create different streams to manage their explosive expansion over the years. They recently signed a lease agreement for manufacturing facilities in Hyderabad, India. Their joint venture agreement with Deepan Group and the West Coast Ventures operates with a war chest to the tune of $2 Million. They have acquired a sizable expanse of land to house their manufacturing facility. For those who are conversant with the happenings in this industry, this is a huge win for this organization.
Windstream considers India to be a strategic market for various reasons. It believes that the huge potential lies in their population, energy needs and the viable opportunity for businesses to thrive. The number of units that has been shipped to India currently stands at above 160. The government initiatives, India’s lack of composite energy generation capacity and financial incentives all come together to anchor the promotion of energy solutions and distributions for the populace. In 2012, India had a power challenge and over 700 million people did not have access to energy. This shows how big the market is for Windstream.
The President and CEO of WindStream, Dan Bates, have continued to work with every channel to create a sustainable growth pattern for the organization. Under his leadership, there has been a strong focus on ensuring that that Company and its Investors make money. Interestingly, due to their unique capabilities, they have a State in India that currently requires their service. The State of Maharashtra has over 1.5 million people that would require the solar power which WindStream is poised to generate.
Global Expansion in Alternative Energy
The unlimited potential for expansion and its position in the market make this Organization a dynamic force. It is important to mention that there are many markets that are beginning to embrace the need for Alternative Energy. Most Countries in Africa and Asia remain a prime place for organizations in this niche to thrive. In view of the current realities, WindStream has a base that would continue to expand to accommodate the needs of its teeming clients. A close look at their pedigree shows that they are a force to reckon with no matter the parameter used to assess their performance.
In view of the economic, competitive and hardware issues that can determine how things pan out in this industry; it is pertinent to mention that there is room for positive growth. It is exciting to see the shift that is happening and today’s world and to note that WindStream is among the names to watch.
http://wall-street.com/windstream-technologies-inc-revolutionizing-alternative-energy/
regards
Publication / Attention from Wallstreet.com
For what it's worth...it's a long time ago that we had some positive publicity. One of the results from the collaboration with the law-firm out of Raleigh, N.C. to restructure the company and to educate Bates? Who knows ...
Windstream Technologies, Inc. Revolutionizing the space in Alternative Energy.
Posted by Paul Meadow | Aug 31, 2016 | Public Companies, Technology
The Alternative energies market has witnessed a trendy innovation with an up and coming Superpower that is carving a niche in this space. North Vernon, Indiana plays host to Windstream Technologies, Inc; a Company that is focused on Air or Wind driven Alternative Technology. They have continued to create a huge International presence in the market through the sale of their SolarMills which go with the brand names: SolarMill and TurboMill. The dynamic thrust of their customer base shows they are making the right connections in very unique ways.
This Company which was founded in 2008 has continued to create different streams to manage their explosive expansion over the years. They recently signed a lease agreement for manufacturing facilities in Hyderabad, India. Their joint venture agreement with Deepan Group and the West Coast Ventures operates with a war chest to the tune of $2 Million. They have acquired a sizable expanse of land to house their manufacturing facility. For those who are conversant with the happenings in this industry, this is a huge win for this organization.
Windstream considers India to be a strategic market for various reasons. It believes that the huge potential lies in their population, energy needs and the viable opportunity for businesses to thrive. The number of units that has been shipped to India currently stands at above 160. The government initiatives, India’s lack of composite energy generation capacity and financial incentives all come together to anchor the promotion of energy solutions and distributions for the populace. In 2012, India had a power challenge and over 700 million people did not have access to energy. This shows how big the market is for Windstream.
The President and CEO of WindStream, Dan Bates, have continued to work with every channel to create a sustainable growth pattern for the organization. Under his leadership, there has been a strong focus on ensuring that that Company and its Investors make money. Interestingly, due to their unique capabilities, they have a State in India that currently requires their service. The State of Maharashtra has over 1.5 million people that would require the solar power which WindStream is poised to generate.
Global Expansion in Alternative Energy
The unlimited potential for expansion and its position in the market make this Organization a dynamic force. It is important to mention that there are many markets that are beginning to embrace the need for Alternative Energy. Most Countries in Africa and Asia remain a prime place for organizations in this niche to thrive. In view of the current realities, WindStream has a base that would continue to expand to accommodate the needs of its teeming clients. A close look at their pedigree shows that they are a force to reckon with no matter the parameter used to assess their performance.
In view of the economic, competitive and hardware issues that can determine how things pan out in this industry; it is pertinent to mention that there is room for positive growth. It is exciting to see the shift that is happening and today’s world and to note that WindStream is among the names to watch.
http://wall-street.com/windstream-technologies-inc-revolutionizing-alternative-energy/
Regards
North Vernon alternative energy company ‘bankrupt’: City Attorney
The city of North Vernon may be out $1.4 million dollars with little chance of recovery. That’s the message from City Attorney Larry Greathouse, who gave his opinion of Windstream Technologies’ business and financial standing during Monday night’s city council meeting.
Greathouse was tasked by the council to look into the alternative energy company after company founder and CEO Dan Bates talked to the council July 25th. When Windstream Technologies opened its plant there in 2011, it received a 10-year, $1.4 million loan from the city, through its Redevelopment Commission and Tax-Increment Financing funds. Since the loan was issued, repayments to the city have been irregular. Shawn Gerkin, North Vernon Clerk-Treasurer, says that the money the city has received has essentially been enough to cover the interest payments, leaving the $1.4 million balance largely intact. Part of the loan agreement includes a scheduled balloon-payment of several hundred-thousand-dollars, which was due August 1st.
When Bates addressed the council last month, he explained that the balloon-payment was part of the problem in getting Windstream’s financial house in order. He said that he is working with a law-firm out of Raleigh, NC to restructure the company. Bates said that the payment, along with the company’s stock price, is making it difficult to attract investors. Bates said that, while investors like the products being manufactured by Windstream, they get “spooked” when they learn about the company’s financial situation. He added that the immediate goal is to restructure and make Windstream “look presentable” to investors.
The due-date for the balloon payment has come and gone and Greathouse told the council that he isn’t nearly as optimistic as Bates is. “Windstream is bankrupt,” said Bates. He added that, for all intents and purposes, the company has little in the way of assets and “in no position” to attract new investors.
Brian Hatfield, who represents District 4 on the city council, asked Greathouse what could be done. The answer is “not much.” Greathouse said that he wouldn’t recommend that the city file a lawsuit, due to Windstream’s lack of assets. He called any judgement that the city might receive as “totally uncollectable.” In addition, said Greathouse, a lawsuit would hurt the company’s attempt to become presentable to the Securities and Exchange Commission. He recommended that the council “wait and see” what happens. The council agreed and took no action.
http://win1049.com/North Vernon alternative energy company ‘bankrupt’: City Attorney/
regards
The interim filings with financial statements and MD&A are due for august the 29th!
regards
According to an analysis of the US financial research firm Sanford Bernstein solar energy is cheap, reliable, clean and easy for the emerging Asian economies. A graph of their analysis shows the huge price drop in the last decade. Technological advancements contribute to the accelerated breakthrough. So the time that the solar market collapsed when oil prices fell, are definitely over.
The price of solar energy dropped so much in those ten years that it became a serious competitor to fossil fuels. In parts of Asia solar energy is already cheaper than oil and gas even with the recent low oilprices.
By the way: A recent example of innovative technologie for obtaining/manufacturing even cheaper solar panels in the future is the Purevap system of Pyrogenesis in Canada: http://www.marketwired.com/press-release/hpq-silicon-acquires-purevap-intellectual-property-from-pyrogenesis-orders-200-metric-tsx-venture-hpq-2147233.htm
regards
As one can see – via the following link: http://www.wisdomjobs.com/jobsearch/windstream-jobs-in-bangalore-bengaluru – is that the factory in India is putting up a sales force.
Assuming the Indian part of WSTI is managed well + Piyush Goyal, the Indian Minister of State for “power, coal and renewable energy” stays as committed and ambitious as he is now + the Indiana factory keeps manufacturing components for assembly in India … Bates has a few aces up his sleeve and the North Vernon council should look into this matter very carefully.
And don’t forget the– alongside the 1 trillion investment drive – historical achievement of the climate conference in Paris and the binding consequences of it.
PS: My maternal language is Dutch, so I apologize for possible grammatical mistakes
regards
md3423, when you look closely at the link, you can read it is dated "2016/07/26":
http://1061theriver.com/2016/07/26/windstream-looks-to-citys-help-rehiring-employees/
regards
Windstream looks to city’s help, rehiring employees
An alternative energy company in North Vernon hopes to have most of its workers back on the job over the next several weeks.
Dan Bates, CEO and founder of Windstream Technologies, told members of the North Vernon City Council his hopes and plans during the council’s meeting Monday night. The company, which manufactures wind turbines, opened its plant in the city in 2011.
Part of that plan, Bates explained, is the acquisition of additional capital through new investment. He added that the lack of investment, along with decreased demand for the company’s products, has resulted in much of the Windstream workforce being laid-off. When City Councilman Jack Kelley pressed Bates for numbers, the CEO said that eight to 10 employees are on the job now, down from the 35 recently working.
As part of the move to North Vernon, the company received a 10-year, $1.4 million loan from the city, through its Redevelopment Commission and Tax-Increment Financing funds. Since the loan was issued, repayments to the city have been irregular. Shawn Gerkin, North Vernon Clerk-Treasurer, says that the money the city has received has essentially been enough to cover the interest payments, leaving the $1.4 million balance largely intact. Part of the loan agreement includes a scheduled balloon-payment of several hundred-thousand-dollars, which is due in late-August.
Bates explained to the council that the balloon-payment was part of the problem in getting Windstream’s financial house in order. He said that he is working with a law-firm out of Raleigh, N.C. to restructure the company. Bates said that the payment due in August, along with the company’s stock price, is making it difficult to attract investors. Bates said that, while investors like the products being manufactured, they get spooked when they learn about the company’s financial situation. He went on to say that the North Carolina law-firm has a track record in helping companies in similar positions. Bates added that the immediate goal is to restructure and make Windstream “look presentable” to investors, adding that the company’s stock price does not accurately reflect the financial health of the business.
While not directly stating that the company will be unable to make the balloon-payment, it was alluded to enough that council members discussed the possibility of postponing it. That, after Bates suggested that a delay of up to two years would give his company ample time to take the steps needed to correct its course. Council members agreed that they would need to discuss the issue with the Redevelopment Commission before any possible changes to the loan agreement could be implemented.
Bates told the council that he understood and thanked the members, and the city as a whole, for their patience. He said that, while the loan repayment hasn’t gone as he has liked, Windstream Technologies has been an economic positive for North Vernon and all of Jennings County. Bates said that since the business opened locally, over $9 million in business has been done locally, counting property taxes, payroll and payments to vendors.
Bates went on to say that he wants to honor the agreement and do right by the council and the city. He says that he has been rejecting calls from advisors to file Chapter 11 bankruptcy. Bates added that the company has every intention of meeting its obligations, but he needs a little more help from the city.
Windstream looks to city’s help, rehiring employees
WindStream Technologies founder and CEO Dan Bates answers questions from the audience during Monday’s North Vernon City Council meeting.
Dan Bates was on the hot seat Monday evening, grilled not only by members of the North Vernon City Council but also by several people in the audience at the Carnegie Government Center.
Bates is the founder and CEO of WindStream Technologies, a startup firm based in North Vernon that produces hybrid wind turbine-solar panel electrical generators. The company earlier this month laid off most of its 35 employees at its assembly facility in the former Regal Rugs Building. WindStream also owes the City of North Vernon $1.4 million as part of a loan agreement made in 2011. The final balloon payment, the full amount of the loan, is due next month.
"We are in a slowdown and this is a bit of a setback," Bates admitted. "We are now restructuring the company, and will be going in a new direction to bring in more capital from investors. Then hopefully we will be able to bring our staff back. I'm very excited about that."
Councilor Jack Kelley (R-District 1) questioned Bates extensively about the restructuring process and the firm missing a filing deadline with the U.S. Securities and Exchange Commission (SEC).
"We have filed for an extension of our 10-K form through the SEC," Bates answered. "It is part of our restructuring."
CEO Dan Bates answers questions from the audience during Monday’s North Vernon City Council meeting
Regards
Also interesting: Via the following link - posted on the 2nd of july - you can read that they're still searching for people for their factory in India:
http://www.wisdomjobs.com/job-listings-windstream-energy-technologies-am-bd-sales-renewable-energy-bangalore-3-to-6-years-3644192?utm_source=Indeed&utm_medium=organic&utm_campaign=Indeed
"...with products manufactured in India under the close inspection of WindStream USA. WindStream will continue to manufacture and ship its products globally from its Indiana facilities."
regards
Ivan
Please explain me why there are no lower bids than 0.0001? ... CDEL, NITE, ETRF, ..., VNDM: all at 0.0001! In the past you could see several different figures at "Level 2", not one: It's a fixed bottom!
And yes the SP will decline, but because of toxic debt and following dillution.
In a message from Smokey on Wednesday, 07/15/15 09:49:44 PM Post 2277):
DAN BATES PERSONAL CELL PHONE #1(310)387-7636
Good luck!
Can someone give me some "positive" feedback regarding this "J. M. Fife" character. It seems to me that whenever this chap appears on the stage of a company, it rolls further downhill into oblivion.
The company can survive this so called "death spiral" ... with sustainable increased revenue, high growth ... mainly from the indian plant. It will reflect in a higher SP which will efface the toxic debt in a more effective manner and rapid pace ... I hope! Next Q-results (11/16) have to be significantly better, otherwise this firm goes "to the sharks" ... as we say in dutch!
regards
Ivan
In one of your previous messages you mentioned the probability of filing a Q10 even sooner than 11/16. Did Dan B. stated this, via e-mail I presume, himself or is it an assumption?
Thanks & regards
decouverte d'Elbe,
Did you have any recent contact with Dan Bates and when are you going to visit the factory?
regards