Monday, June 19, 2006 4:39:33 PM
Because I feel that I am not contributing to this board.
I have been reading I-hub for two years. Especially for Two message boards as a visitor. Never contribute because I have never done my own dd. I have lost nearly 90k for one of the stocks I have position in. WWEN is the first stock I am doing my own DD. But I haven't have the position yet. But I like to share my thought with the board. I haven't been successful with trying to find or verify with third party for the compamy PRs. This is just my observation and opinion.
First of all, When I first dd on this a month ago I wrote down AS, OS and Floats. Now I am aware of some update on them. I compare the old with the recent update.
As of 04/13/2006 os: 80,255,619
As of 06/02/2006 0S: 97,455,619
Increase of 17,200,000
As of 04/05/2006 Float: 19,056,335
As of 06/02/2006 Float: 37,206,835
Increase of 18,150,500
Do you think AS could have been increased without our notice from 200,000,000?
In term of Corporate office in Carson City, Nevada, I googled the address and found out quite a few companies have the same address as W2. I later found out that one of registered resident agents has helped W2 to set up the corporation in Nevada. ( www.incnevada.com ). The company doesn't have physical address and phone no: in US.
https://esos.state.nv.us/SOSServices/AnonymousAccess/CorpSearch/CorpDetails.aspx?lx8nvq=lzqEBOtZHNvHrdrcmMwE7A%253d%253d
( Nevada Secretary of State still shows Par Share Count as 100 Millions. )
On Nov 7, 2005 PR, W2 Energy Inc. Signed Financial Engagement letter with ABB. We haven't heard any secured financing for over 7 months.
My question is how the corporation pays its employees' salaries, all expenses including R&D and the plant being built. It is obious that the company does not make any revenu but has negetive cash flow and balance sheet. We should keep an eye on current Authorized Shares count. I have no idea who to contact to find out.
The following is to do with understanding english, my second language.
(And Last PR also indicated that " W2 continues to push forward on the scale-up construction of our 100BBD plant as well as ....". On W2 website, it says the plant is being built. Being bulit and push forward on the construction have the same meaning or thing. I am not sure the plant is really under construction without secured financing in place or raising AS. I rather like to see on the last PR indicating like 75% constrction completed or be in operation in Dec 2006 or some thing like that )
In conclusion, my observation is the following
No product No revenue
Not sure of getting secured financing
Not sure of the plant being built or in operation
No physical office in US
OS and Float increased, not sure for AS.
Try to help,
Learner1
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