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No, but I got the corporate summary emailed to me today just after Noon. Nothing new, but a nice, concise summary (apologize if the format is screwed up..posting from Word document):
WWEI is a renewable energy company focused on the emerging wind energy market in China. The Public Company acquired a
management team and the rights to two wind projects in China in April of 2006. Welwind has negotiated with municipal and provincial governments in China to develop 1,000 megawatts (“MW”) of wind energy in Yangxi and Zhanjiang in the Province of Guangdong.
• NASD OTCBB: WWEI, at June 30, 2008 176,064,837 shares issued and outstanding
• President & Chairwoman – Tammy Lynn McNabb
• Directors: Shannon de Delley, Patrick Higgins, Chong-Jiang Zhao, Feng Junyi, Tammy McNabb, Pan Huifang, Baldwin Kam Tao
• Industry: Alternative Energy
The Company currently has the rights to two projects in China. The Zhanjiang Project and the Yangxi Project combined total a potential 1000 MW. All of the Company’s projects are built out in phases, with initial 49 MW plants to be constructed followed by annual expansion of a minimum of 49 MW’s per year at each location. In total, the Company intends to put in place 600 turbines at a cost of C$1.2 million per MW on average. As part of the build out, the Company is negotiating a 50 year purchase price agreement (“PPA”) which would result in Welwind’s facilities having contracts to sell all power produced at a guaranteed rate for 50 years.
PROJECTS:
• Zhanjiang Windfarm – potential of 600 MW. 750 kW turbine installed Q1 2007, testing result exceptional. Letter of Interest for financing for phase I of project for $75M US with Acterra Finance announced. Currently awaiting final stages of PPA from provincial government for the purchase of company’s power. A Turbine Supply Agreement with YATU signed for 66 Wind Turbines with guaranteed delivery before October 18, 2009. Current industry waiting time for delivery of turbines is 3-4 years.
• Yangxi Windfarm - Currently on site at the Windfarm an 80 foot meteorological tower continues to collect favorable data indicating a location for a viable wind farm. This July 2008 marked the two year anniversary date of collecting data. The data to date has been used to conduct a wind feasibility study and wind farm layout design. The Company is currently working on preparing necessary documentation for submission of the PPA and has received a letter of interest for financing for this project for an additional $75M USD from Acterra for the first 49MW buildout.
• JV Manufacturing Partnership - On June 17, 2008 the company announced that it has begun negotiations for a Joint Venture Partnership with YATU Wind Energy Manufacturing Co. Ltd (formerly ENGGA) to manufacture wind turbines internationally. YATU's YT750(750kw), YT850(850kw), 1MW, 1.2MW, 1.5MW turbines will be launched in the international marketplace in conjunction with an aggressive marketing plan to create the best energy company internationally
• Peace Region Windfarm - The company is entering into a land lease agreement in the Peace River Region of British Columbia, Canada which is deemed to be an exceptional location to develop a wind farm. In a November 6, 2007 the company sent a representative to survey the land, and data results for build out were deemed a favorable location to proceed with a wind farm project. The current location consists of 4680 acres with potential acquisition of additional private and/or crown land around the property. Depending on the size of the turbines installed, the company will be looking at generating a minimum of 100 MW.
• June 2008 – The Company has begun negotiations for a wind and solar energy project in the Caribbean. Additional details will be released as they become available.
In 2006 the company raised $1.6 M and an additional $500 K was raised early 2008 to complete feasibility studies on one wind energy project and maintenance of Zhanjiang’s first turbine along with public company overhead costs. Management expects project financing will largely take the form of equity financing with Acterra, the repayment of which will be tied to specific project revenues. Based on successfully building out of the two projects identified above, the Company is projecting the following cash flows:
Yearly Cash Flows
Year Pre-tax After-tax Cumulative Year Pre-tax After-tax Cumulative
# $ $ $ # $ $ $
0 (15,178,929) (15,178,929) (15,178,929)
1 5,029,014 5,029,014 (10,149,915) 11 7,668,214 3,992,625 38,692,554
2 5,264,586 5,264,586 (4,885,329) 12 7,969,766 4,094,788 42,787,342
3 5,506,047 5,506,047 620,718 13 8,278,856 4,195,700 46,983,042
4 5,753,544 5,753,544 6,374,262 14 8,595,674 4,293,784 51,276,826
5 5,554,666 5,554,666 11,928,928 15 8,341,093 4,011,326 55,288,152
6 6,267,257 6,267,257 18,196,185 16 13,647,125 8,870,874 64,159,026
7 6,533,784 6,265,499 24,461,684 17 13,988,303 9,092,519 73,251,545
8 6,806,975 3,714,996 28,176,680 18 14,338,011 9,319,768 82,571,313
9 7,086,996 3,796,420 31,973,100 19 14,696,461 9,552,730 92,124,043
10 5,581,899 2,726,829 34,699,929 20 12,769,809 8,300,406 100,424,449
**Cash flows are based on a turbine being manufactured in China with a wind speed of 7.1 m/s and a 49 MW farm along with a PPA of .08 cents Canadian. The Company anticipates that the PPA will generate revenues of .10 cents Canadian per Kilowatt.
INVESTOR RELATIONS:
NetGain Financial, Inc. - Contact Person: Robert Bragg
Toll free phone number: (866) 636-0252 - Email: rob@netgain-financial.com
Two cents on the 10Q and stock price reaction:
Who knows how the stock will react. I think it will depend on what kind of tone the company puts our in their press release regarding the future. If they are confident and specific regarding revenure and earnings guidance for the turbine and cable business, then I think this stock will move up in the short-term. If not, I think we tread water until the clarity improves.
GLTA,
Murocman
Cable Summary from 10 Q:
At the end of the quarter at June 30, 2008, we had a non-cancelable order backlog for our cable products of $11 million including approximately $7 million of high margin ACCC core and $4.1 million of lower margin ACCC conductor and ACCC hardware.
The Cable division’s sales focus continues to be to develop new relationships in targeted markets including Europe, South and Latin America and the Middle East and on fulfilling our long term supply agreement with our Chinese conductor licensee Jiang-Su New Far East. During the quarter we completed the installation of our largest order to date in Poland and made additional initial sales into Spain and Indonesia. Subsequent to quarter end, we expanded our relationship with Lamifil n.v., one of our ACCC stranders, to allow for Lamifil to sell finished ACCC conductor directly to their customers. This revised arrangement will allow CTC Cable to sell to Lamifil the higher margin ACCC conductor core. We currently have commercially delivered or have commercial orders to deliver ACCC products into China, the U.S., Indonesia, Poland, Spain, Mexico, and most recently, through Lamifil, in Belgium. All of these new markets represent the culmination of several years of testing and certification procedures and opens these markets to additional orders in the future. We are excited about the opportunities that these new markets present and we consider our initial sales to be further proof of worldwide adoption of ACCC conductors.
The enhanced relations with Lamifil was made possible by obtaining approval from our warranty insurance partner to add the ACCC conductor stranded by Lamifil and Jiang-su Far East to our warranty program. This development is expected to help facilitate additional sales to new customers by making better use of those stranders' current customer relationships.
The focus of our cable operations during the three and nine month period ending June 30, 2008 has been to increase production to manage the large influx of orders from our new markets as well as produce ACCC core for deliveries under our China agreement. Our current production capacity utilizes eight pultruder machines, each capable of producing up to 700 km of core per year. CTC Cable ran these existing machines at nearly full capacity during the quarter ended June 30, 2008. During the September, 2008 quarter we expect to complete the installation of ten additional pultruder machines and to retrofit our existing eight machines for greater capacity. The combination is expected to bring our production capability to in excess of 18,000 km of ACCC core production per year, sufficient capacity to provide in excess of $100 million in ACCC core revenue per year.
We believe that we have lined up sufficient raw materials supplies for our ACCC conductor core to produce our expected ACCC sales worldwide for the next twelve months. We will continue to work to expand our ACCC conductor production capacity through stranding and manufacturing agreements with targeted manufacturers worldwide. As we open new markets and we begin to sell ACCC conductor locally, we will look to sign additional agreements with local stranding sources. In addition, our manufacturing agreement with General Cable, previously an exclusive agreement, lapsed at the end of the December 31, 2007 quarter. We are beginning the process of negotiating non-exclusive agreements with General Cable and other conductor manufacturers to better serve the US and North American markets.
Well, I would presume that if they signed a contract, the customer would have a plan to put them somewhere? I guess time will tell.
Murocman
Contract signed on 4 August per 10Q:
On August 4, 2008 the Company’s wholly owned subsidiary signed a turbine supply agreement with Energy Farming Ontario for the purchase of 10 units of DeWind 90 meter hub version of the D8.2 2 megawatt turbine which is expected to be ready for commercial delivery in the third calendar quarter of 2009 and is expected to be called the D9.2. The agreement calls for payment of $2,355,000 per turbine unit and additional services of $300,000 for a total contract value of $23,850,000. Each turbine unit consists of a D9.2 turbine nacelle and a D9.2 blade set. The agreement calls for a 1% payment upon signature of the contract and an additional 9% payment to be received by September, 2008. Additional cash payments are called for beginning in 2009.
Thoughts on CNOA?
This looks like it is way undervalued heading into earnings the end of the week. I took a postion Friday.
Anybody else have any thoughts?
Murocman
Great article worth a re-post and a fresh read as we head into earnings:
http://www.cnbc.com/id/24022778
GLTA,
Murocman
Agree...am hoping the IR firm is also an indication that the PPA may be near. Time will tell.
GLTA,
Murocman
Do you have a link?
I got the following response regarding my email to Tammy McNabb about the message CNBCWhore claims to have gotten:
John,
I’m sending in response to your email to Tammy McNabb.
I answered another email on behalf of Tammy on Friday. In the email I stated, I was completing a “two-page corporate summary” that would be ready today, August 4, 2008. This summary was originally drafted by Welwind corporate.
In no way is it a news release as to the PPA being signed. This is exactly what I stated in the email to that individual:
“I'm in the process of completing a two page summary and update on the
company. I'll be happy to forward it to you when I'm done editing it.
I expect it will be ready to send on Monday.”
This summary is being drafted to send to inquiries that are being forwarded to me. It is for the benefit of new inquiries, and existing shareholders in which I receive communiqué from; whether it be phone or email.
I’m having a dedicated 800 number for Welwind investor relations being installed. Once I have the dedicated line installed and activated, I am inserting the new 800 number at the end of the summary. The line is being installed tomorrow and should be activated on Wednesday. My best estimate is, I will start sending the summary on Thursday to people who have already contacted the company on information.
Once, the summary is ready, I will send it to you via email and then, if you care to, we can further discuss the company via phone. I’ll be happy to answer any questions that are legally available to me.
Thank you,
Robert Bragg
Exec. V. P. – COO
NetGain Financial, Inc.
It looks like Welwind has new IR folks getting established, and nothing more at the moment. I'm taking it as a positive that they at least responded. Here's hoping for the PPA before the Olympics.
GLTA,
Murocman
It looks like based on the following link:
http://www.qppstudio.net/publicholidays2008/canada.htm
Any educated guesses on where this opens Monday? I'm thinking you might need to put in an order at $0.02 to get any shares at the open.
Thoughts?
Murocman
Yes...the one in the I-Box. Take a look back in time at the amount of volume and price closes above $0.25. Lacking any news, many of the folks who bought at higher prices may take the opportunity to liquidate their investment at close to breakeven, as they have been holding for some time at a loss.
I know that doen't necessarily make sense when the fundamentals are starting to look up, but it happens ALL the time with all stocks. It's part of the fundamental pyscology of the market. I can't explain it, but you see it on charts, time and time again.
Murocman
There is some significant resistance to get through above $0.25. It may serve as a fence until we get some more news regarding financing and afford the opportunity to pick up shares below $0.20.
GLTA,
Murocman
Indian Nuclear Deal a Step Closer
http://in.reuters.com/article/specialEvents/idINIndia-34640220080723?pageNumber=1&virtualBrandChannel=0
There had been speculation in the past about Throrium working with India, but there only disclosed relationship as I know it, is with the UAE.
Anybody have any thoughts on whether Thorium is in position to get a piece of the deal discussed at the link above? If so, better start accumulating!
Murocman
EXPH on Monday Congressional visit news and possible coinciding announcement of $22M JV partner.
Expecting $0.01-0.03 short-term
Murocman
Congressmen (and women) would not visit this company if it were a scam. I also can't imagine that the company would be diluting if they just retired a whole bunch of shares and are looking to do more of the same.
This company seems to be legit. While I'm not expecting a run to $1, I think it is reasonable to expect $0.01 to $0.03 in the short term. This would yield somewhere between a $5M and $15M market cap. For a company saying that they just landed a $22M deal, this looks very reasonable to me.
I'd look for a strengthening of the share price into the last half of the week as long as the congressional visit stays on track. I'd also expect an announcement of the $22M JV partner either right before, or in conjuction with Congresswoman Foxx's visit on Monday. Assuming those things happen I wouldn't be at all surprised to see the share price somewhere between $0.01-0.02 by market close that day.
All IMO. GLTA,
Murocman
Odds of a PR tomorrow after Chinese directors meet with local government? Anybody got any feelings one way or another?
GLTA,
Murocman
Either $0.02 or $0.03 in the short term sounds great to me!
Murocman
If the previous figures are true, a $0.02 share price would yield a current market cap of $5.8M, which would seem to be a discount if the company can really achieve $25M in revenue? It will be interesting to see how this trades in the next week, if the Congressional visit really happens, and if they reveal their JV partner.
GLTA,
Murocman
As of July 9th it was as follows:
NORTH WILKESBORO, NC--(MARKET WIRE)--Jul 9, 2008 -- Expo Holdings, Inc. (Other OTC:EXPH.PK - News), a holding Company, which wholly owns D&D Displays, Inc., is pleased to announce today it has retired an additional 229,040,000 shares of common stock. In conjunction with the retirement announced on June 26th, the company has retired a total of 333,076,000 shares of common stock. The company expects additional retirements to occur.
ADVERTISEMENT
The company would like to state that the current issued and outstanding shares of the company are 347,358,619 with an effective float of approximately 294,686,047 shares.
Murocman
Etrade not accepting online orders. Anyone else having issues with their broker?
Volume waning on the move up...not good. Unless it picks up, it would be wise to take profits IMO, as shares are headed lower.
GLTA,
Murocman
Email correspondence with the company.
Here is what I wrote:
First of all, I'd like to congratulate the Welwind Team for all of your recent success. It appears you have laid the framework for a great future for the company as a significant world-wide player in the wind farm business!
I listened to the most recent conference call with great interest, and am eagerly anticipating the completion of the Zhanjiang PPA as I'm sure you are as well.
I was wondering how long you estimate it will be before you begin placing turbines on the Zhanjiang site once the PPA is approved? Also, will you be having a ceremony with local officials to celebrate the completion of the PPA?
Here is what I got:
Lie should have an update on Monday which will be the 10 business days he spoke of on the call.
First quarter 09 we will receive 22 turbines based on the contract with YATU, though it could happen sooner than that.
We most definitely will be having a ceremony to celebrate the PPA completion. I will keep you posted if you are interested.
Here's hoping for good news on Monday!
John
My gut feeling is that the PPA will be announced prior to the conference call on Monday. I don't think they would have a call just to re-hash what has come out in the most recent PR's, unless YATU were doing something like taking a significant stake in the company.
Furthermore, the fact that the company is negotiating the JV with YATU tells me that they already have assurances that the PPA is imminent. I don't think YATU would have any interest in associating with an un-proven company like WelWind unless this was the case.
Again, all speculation on my part. We'll see how good my instincts are come Monday afternoon.
GLTA,
Murocman
NEWS! $20M Order from S. Korean Distributer. I'm thinking this stock may be about to jump on the solar rocket ship!
Shipments to be complete before August. Company sales last Q were $5.8M.
Near term target $5-7 based on news and solar hype!
GLTA,
Murocman
Listening to the April Conference call again. They're talking about a 28% ROI once construction is done and the switch is flipped, along with a 4.2 year absolute time to payoff cost of construction/operation. These sound like great numbers!
Also talking about the PPA being much stronger since it is 50 years.
Also talking about approixmately two months, from final PPA approval, so maybe we'll hear something by mid June?
If they can pull this off, this will be a VERY, VERY lucrative investment.
GLTA,
Murocman
Congress to consider Coal-to-Liquid legislation next week according to CNBC this afternoon. Anybody have any insight as to the details and chance of passage?
TIA,
Murocman
$0.10 is possible by EOY if the revenue momentum materializes IMO. In the short-term, I'm looking for $02-0.03 on good initial revenues in the 10Q.
GL,
Murocman
I'm a little perplexed and concerned about the "10QSB" filed today. I don't see how filing a quarterly report with no quarterly financial data, and simply saying "we'll amend it later" meets the SEC requirement. What DCFF reported should have been an 8-K transaction, not a 10QSB. Hopefully they get the amendment out quickly or they may find themselves de-listed to the Pinks!
GLTA,
Murocman
Have to call ETrade to buy this stock. Anybody else have this issue with any other brokers? I've gotten burned with illiquid stocks like this before. I love the fundamentals and the prospects look great, but not be able to trade it easily is a problem IMO.
Murocman
I noticed that the last two 10Q's have been filed on the 19th of the month, and the one a year ago was on 21 May. Based on that, we should see the 10Q NLT Wednesday.
It's a little troubling that this company doesn't seem to be able to meet it's filings on time, but isn't surprising, given that it's essentially a startup.
Hopefully they will use some of this revenue they claim to be making to hire a timely accountant!
Looking to take a position Monday.
GLTA,
Murocman
Expecting a PR here on Monday about the 10Q. Given that the news is not particularly spectacular for this quarter, I think it will take some detailed optimism about the coming quarters (revenue projections, cash flow positive, earnings, etc.) to get this stock moving.
GLTA,
Murocman
10Q posted after the close. Consolidated revenues were up by expenses were up by a whole lot more, so the overall loss was higher.
I think the stock price direction from here will depend on what they say about the future prospects of the business in their earnings PR.
GLTA,
Murocman
The insider buying was the compelling thing for me to take a position in this stock. All of the purchases were late last year, or early this year, and range in price from $0.05 to $0.23!
Insiders only buy for one reason, and the fact that they have a significant number of shares at a prices basis much higher than we are today, bodes very well for the near term IMO.
GLTA,
Murocman
I agree. If the company continues to execute and improve the fundamental business, the share price will take care of itself.
Here's hoping for a good Q1 2008!
GLTA,
Murocman
My NOBRAINER pick is CDTR.OB.
Chinese/Asian Credit and Debit Card Processor. Reported excellent growth on their 10-K and forecasted a strong Q1 and 2008. Q1 10Q is due on Thursday (15 May) next week.
There has also been significant insider buying.
Main downside is not terribly liquid.
GLTA,
Murocman
Hopefully we'll see more interest and upward movement next week. The next 10Q is due on Thursday. If they follow past history, the 10Q will come next week, and the PR the following week.
I'm hoping they don't file for a delay, as that will probably squelch any momentum. Keep an eye on trading volume Monday and Tuesday, as that might give us a clue as how things are going to play out.
GLTA,
Murocman
Size of R/S is cause for concern. Leaving only 65K in the outstanding makes this a very illiquid and unattractive stock for both individuals and institutions.
I'm betting we will see some significant dilution in the near-term. I can't think of any other reason to make the O/S that low?
We'll see what effect the event on the 10th has on the stock and how much volume trades.
GLTA,
Murocman
Found a Malaysian adult stem cell bank at the link below:
http://www.stemlife.com/international/stem_cell/index.html
Makes for interesting reading. Looks like CLBE's venture could be very lucrative if it is effectively marketed and executed.
GLTA,
Murocman