Mirage Energy Corp (MRGE)

[Andyman23]

Macod, w/ regards to Storage Facility Revenue:

Disclaimer: I am new to much of this, so please everyone, feel free to correct me where I may be wrong in my understanding. My intention is to be transparent and accurate.

If the estimates are at $1 billion annually; then under the old OMU w/ OMD, they would have held a 5% carried equity participation interest which translated to about $50,000,000 per year. We could have back then estimated there to be (worst case scenario) three Mirage projects all equal in size. The annual revenue for Mirage would have been $200,000,000 annually.. This is worst case scenario under the old MOU where they only got 5%. I believe this MOU was unfavorable to Mirage and they got something better. Let me explain.

It may have been discussed on the board already, but I'm under the impression the MOU W/ OMD fell thru on behalf of Mirage. I say this for a number of reasons. For one, the $15,000,000 good will deposit never showed up in Mirage's 8k; this reveals that the money never was received. This automatically rules out OMD being at fault because under the agreement, if OMD backed out, they would still owe Mirage $10,000,000 of the good will deposit. I don't see this $10,000,000 anywhere, do you? So, Mirage backed out. The only logical reason I can see them doing this is because they had something better. How much better? This might give us an idea:

According to Mirage's 8k released on 3/27/2019 announcing the MOU, the good will deposit was due by NO LATER than April 14th, 2019. It was never received. Two days after the due date, on April 16th, Argus Media published an interview with Michael Ward. Ward states that the MOU funding the $1.2 billion dollar project was a done deal. Ward stated that once they sold the project to the financiers, they would own a minority stake of less than 20%. That's 4x higher than what was clearly agreed upon in the MOU with OMD. He's obviously talking about a different deal. If this is the case, the storage facility alone would bring in $200,000,000 annually for Mirage.


Based off of this, our worse case scenario of only three Mirage projects all equal in size, now amounts to $800,000,000 annually.

Please, chime in and correct me where I may be wrong. Thanks for reading.