SunWorks Inc (SUNWQ)

[StockRam]

Courtesy of sprechnd (Thanks)

From HYSR board a while back regarding bountiful capital and Greg Bowden

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=69952418

There are other suspicious activities regarding this company. The following is loosely assembled data mostly from SEC reports but also from Google searches. I make no guarantees to its accuracy and it should not be taken nor understood as fact. Do your own research before investing in these companies.

The company is associated with two others than I can find, named:

Solar 3D -- SLTD

and

Warp 9 Inc -- WNYN

and through one of their directors,

Carbon Sciences -- CABN

All three, that I can see, have been associated with diluting shareholder value. There are even cases with Warp 9 where they diluted it such that a new shareholder, last name "Lei", first name something like Elina, and possibly a related party "Jonathan Lei," gained control over 30% of the company after previous having no control.

It was associated with a company called Pearl Innovations LLC.

There are also interesting connections between this company and a man based in the Santa Barbara, CA area named Greg Boden. As far as I can tell, Greg Boden previously tried to be an "outsourced CPA" doing what was in effect free-lance CPA work for companies. There were two websites associated with this business, something like outsourcecpa.com, etc.

If you are researching this and find the websites, they are gone now. But if you go to archive.org, the websites are still available that confirm this guy at one point was trying to do free-lance CPA work.

Obviously it was not profitable or sustainable, because it appears he no longer does this.

What he did decide to do was start his own "private equity fund," having NO prior PE experience that I can see from his resume, other than that he is an accountant. I cannot find much evidence of this company, but they are also based in the Santa Barbara area. The company's name is "Bountiful Capital LLC".

Bountiful Capital has connections to HYSR, WNYN, and SLTD. The first two, WNYN and HYSR, Bountiful Capital LLC gained (somehow) a large amount of shares of these worthless companies. Greg Boden markets his private equity fund as "helping early startups in technology and energy," but I can find no evidence that he has any expertise doing this, nor can I find evidence of anyone else who works at this company who does. There might be, but the only employee I could find on Google was Greg Boden.

I also could not find any evidence that the companies disclosed that Boden's Bountiful Capital was providing some sort of service to improve their business in some fashion, other than activities related to financing disclosed by the SEC.

The third company, SLTD, it appears, Greg Boden himself gained a large amount of shares in. All three of these companies, again, appear to be companies that continually dilute shareholder value and have not had any successful products or sustainable revenue.

SLTD is connected to Carbon Sciences because SLTD is a *renamed company* that was previously called "Machine Talker Inc." MachineTalker used to trade under the symbol MACH over the counter, but of course it no longer exists and has been turned into SLTD, a completely unrelated venture.

One of the directors of Carbon Sciences (BRYAN ROLAND F) owned this company that made a few electronic devices that could communicate with each other in a mesh topology. They of course were not the only company working on this and it appears that their products were never commercially successful. They were also not very miniaturized, in my opinion, making the viability of the product low. He now may have a beneficial ownership of shares in this company.

Carbon Sciences also appears to be a similar company that seems to have no viable product yet they release press releases touting "gas to liquid technology" of *other companies*! Their plan is to develop some sort of gas-to-liquid technology, but again, it seems to me that these companies are mostly set on doing stock offerings at elevated prices often, making them very poor investments for shareholders and making the people who run them rich.

Back to HYSR. This company has touted at least two technologies but they appear to have no one on staff who has any technical experience. Prof. Nadir Dagli, a professor at nearby UCSB, is an expert in optoelectronics yet it isn't clear to me what the association between Dagli and HYSR is, in the sense that I am not sure about the company's claims that he "invented their breakthrough technology".

This technology is for 'solar concentrating' or some such activity. The idea is to use a material like silicon or some other waveguide-friendly material to either focus the light onto a smaller solar panel. Another idea related to this is to design a waveguide that is frequency-selective in order to both concentrate the light and divert different parts of the sunlight spectrum towards different solar cells that are more efficient at absorbing different parts of the spectrum because of their bandgaps.

This is not trivial technology to create. Other companies have obviously thought of this idea because it isn't that creative. The issue is that it likely requires a lot of money spent on research, and even if a working prototype exists, it isn't clear how to fabricate the waveguides in a cheap fashion, especially on a small scale, that would make the technology commercially viable.

I couldn't find anything saying that HYSR even has a working prototype. There was another guy who had some waveguide experience and a ton of fabrication experience associated with HYSR, but he now works at a company in Colorado and appears to have severed ties with HYSR completely.

From the SEC reports, they paid UCSB professor Nadir Dagli $150 as a consultant, and then later terminated this relationship. Whether he is associated with the company still or not, I do not know. It doesn't seem likely, although he is still pictured on their website.

Their other alleged "technology," which they now tout after seemingly given up on the waveguide idea, is some sort of CO2 to methane conversion. I doubt it works, just based on the enthalpy required to get it going, but what do I know. There are no details on the website other than a mere CLAIM of a patent filing, which does not mean it will get accepted, and more useless PR releases from the company claiming it's going to save the world. Just more tactics to push their stock price upwards so the 'executives' of the company can keep sucking money from investors to pay themselves and their associates hefty sums of money while people who know nothing about the company and invest in it anyway are left holding the bag.

It still doesn't seem like they have ANYONE in this company with any actual experience other than two "CEO" types that have no technical knowledge other than to write blog posts touting how "disruptive technology is needed to solve the world's energy problems." There is no substance to the company and by diluting shareholders and being the beneficiary of paid promotions, they are able to pay themselves a salary without actually producing anything of merit. Instead, they can portray themselves as some up-and-coming startup while in the SEC reports, they are forced to divulge that they may not be an on-going business, i.e. they admit their ability to stay out of bankruptcy is speculative.

Either Greg Boden of Santa Barbara/Goleta is an idiot, or he is trying to get into this pump & dump scam with the rest of these jackals. It would be great if your CPA business failed and you could instead provide a small amount of money to acquire some shares, pump them up through the use of HYSR's paid promoters (who paid them precisely isn't clear, but follow the money), and then sell them for a profit later while looking like some bigshot "private equity" guy, when in reality the profits are made not from investing in startups with viable technology, but from stock price manipulation through paid promoters and other tactics.

Based on the company history, I see no reason to invest in it. There are shady connections of this company with CABN, SLTD, WNYN, Eliana Lei, Jonathan Lei, Pearl Innovcations LLC, Bountiful Capital LLC, and some other company based on Las Vegas named "Wings" something-or-other.

Just putting this out there! Do your own due dilligence. All of this will provide a good start for further research on any of these companies and their shady associations.