I don't see how 24 clouds even at 600k each would equate to between 15 and 20 million, unless you are throwing in a bit for the electricity production. In any case, as Edesheim and I have already pointed out, it's not 600k per Cloud, it's 120 dollars per panel, so the current clouds only bring in about 300k, because they are only half the size of the Clouds in Romania.
I went back to Rennes yesterday - wow, what a difference a week makes. Last Saturday it was standing room only with about 250 - 300 people in the room. This time, there were only about 30 people. This however, was better for me as everyone was less busy than usual and I got to chat with some interesting people that I hadn't met before. Some of them were interested that I had bought shares in WDAS and wanted to do likewise. I asked if the otc listing was instead of or as well as a listing in London. I was told that they are still intending to list in London, hopefully by June.
There will be a minimum of 10 Clouds in Japan, which will take us up to Cloud 16. They are all being built very close to the sea, on land which can't really be used for much else.
I did forewarn (on Thursday, I think) that Cloud 11 would sell out much slower than 9 and 10. There are a number of reasons for this, not least that people do other things over the Easter weekend.
Also, although I can log in and navigate around my account with no problems, there is still something wrong with the payments system, and my various credit cards are refused systematically. There is a way round this but it involves me actually going into my bank which of course, is closed until Tuesday. I will not be the only person affected by this situation. Things should pick up again when all the IT problems are completely ironed out.
I had thought that Cloud 11 was a less good deal than Clouds 12 and onwards, but it turns out not to be the case. My sponsor is a terrific salesmen but unfortunately, not so good with numbers and details (I am the other way around!) He told me that the "new deal" was 14% with no loss of capital. It turns out that this is wrong and that it is actually 14% including 5% of loss of capital per year which equates to a net return of 9% per annum. So this is essentially the same as Cloud 11, except that going forward the payments will only be made quarterly whereas with Cloud 11 they are still monthly.
So 15% is finished and replaced by 9%. I am kicking myself for not having bagged more while the 15% was on the table, but 9% is still a lot better than I get from any of my banks. In some ways, it might paradoxically make the product easier to sell as a lot of people are suspicious of 15% as it falls into the "too good to be true" category. Indeed, in the UK, any product offering more than 12%, is given the equivalent of "junk bond" status, and looked at rather sceptically. It will also be easier for Powerclouds to be able to find more projects capable of providing 9% rather than 15.
I did also ask what the situation was regarding customers in North America. Apparently the "new deal" doesn't resolve all the problems, and so the situation is still not unblocked. The lawyers are still in negotiations with the authorities and I was told that it might take another 6 months.
That's all for now. If I think of anything I forgot to mention I'll post again later.
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