Blink Charging Co (BLNK)

[mikeymgd]

I can explain the 100s of millions to replicate statement. I do not agree with the thought but below is an explanation of cost:

We are delighted to have completed the Blink transaction and to acquire assets that originally cost approximately $230 million for only $3.335 million. CarCharging has always been committed to supporting the electric car industry and by adding Blink and all of its assets to our network of EV charging stations, we can continue our efforts to further accelerate the adoption of EVs nationwide.”

Blink (pre bankruptcy) built the network of charging stations through Government grants and Private investors. The grants alone were about 114m while the remainder was private investment.

The problem with the theory is today's cost structure compared to that of 10 years ago. The charging stations cost just a fraction of the cost a decade ago. Also the locations are subject to opinion with regards to value. Considering that Revenue is rather non existant with regards to a per station generating structure, most of their locations are loosing money locations so they hold no real value.

Lastly as for the obsolete question, well most of their network is end of life. In fact I would anticipate about 90% of their units are at this point fully depreciated and that is the reason for near no asset value. They are 5-10 years old.