My Speculation!
"So why would nick do the RS " assuming the facility is no longer going to be in Alabama which was a purchase and own situation to the suspected new location which is a lease and run situation, the RS was done to supply adequate collateral for the lender(s)/investor(s) who will finance the project. Notice history the RS was not needed per CEO when the facility was under contract to Elba, contract expired a period of communications occurred to resolve the issue why the contract expiring (per filings).
It appears the issue was never resolved, no new contract was signed and the property was never relisted. So the company was forced to seek out a new location.
Since the new location appears to be a lease agreement, the company no longer was going to own a facility which it could used as collateral, hence the RS split option was put into place to offer the lend(s)/investor(s) part of the company as collateral.
The company had meetings with Tsingshan Group/FoxEss, SC Solar, Autowell, and SC solar with their PT.IDN Solar Tech project manager 11/30/23 to Dec 7 2023.
From these meeting a Site visit at an unknown location was schedule for January 12 to 14 2024.
The site visit took place.
After reviewing the data from the site visit, It apparently met the the approval of the lender(s)/Investor(s) who gave the ok for the project hence the RS was enacted a few weeks later.
"be totally silent" company explained that here before going site
"Technically nothing has worked out under his ceo ship" Very true, but what real life events happen that did not help the CEO from achieving his goals
- "no advertising shelters"- a little thing call COVID, which limited PUBLIC TRANSIT assess to only essential workers for nearly 2 years, Public transit advertising the business plan for Street Smart outdoors with no public to see them.
- "no medecycler" A last minute law that targeted the project, which the CEO had no idea it was coming and had no way to plan for it.
Some will point to the additional public concerns as also a reason for the denial, but those individuals need to be reminded that if the law was not in place the company would have had an opportunity to rectify those issues.
- "no solar panels factory" Yet, timing of the site visit and RS that soon followed indicate to me that the starting of the process is not that far behind (BUT THAT IS JUST MY OPINION)
Let's wait to see if any thing happens after the D (another reason for the silence) is removed and the 10K is released.
