Not pretending to deramp this, but I'm out of HTOO now. Here are some thoughts.
I really don't understand anything they are doing. They are "buying" QIND, but QIND will own 75% of HTOO... And I don't even get what does ILUS have to do in this matter. Too many crappy companies involved. And to do all this, they are issuing 70 million new shares of HTOO (current outstanding shares are around 18 million...) and I understand another several millions shares of the other companies. Are they all trying to squeeze all the money out of these companies before their delisting?
I bought some shares again a few months ago (hoping for some kind of big last bounce), but sold them all again recently. Having being following this company for a few years now (I started buying when shares were over $10...), reading everything I could find online and listening to ALL their Calls, I could still not really get if they were legit or a huge fraud.
They kept talking BS about tens of projects in every call, while NONE got developed, other than a crap 100Kw one in Spain.
They were supposed to own some HEVO Solar in Portugal (although only 15), which were supposed to be producing Hydrogen, but they NEVER declared any sort of benefits from this.
Not even some minimal feedback from the two small projects they did (one refueling station in Madrid with HEVO solar and some small HEVO Chain project also in Spain)
They sold a few million shares in February, at an average of $3/share, and we NEVER saw this money reflected anywhere in their reports...
As I read someone saying recently talking about this current "merger": A tiny gas company based in Canada, doing business in UAE, joining a failing company financially based in Ireland and (supposedly) operating in Portugal... Yep, it doesn't sound great.
I started buying this stock soon after I started investing in stocks, so my knowledge were even worse than know. I feel a bit like and idiot and I'm not very proud of what I did with this stock but, as I didn't loose almost any money, I really want to see it as a lesson. This was my "100% speculative stock", praying for a multibagger in the long term. I was stupid enough not to sell all in February (I went to around 4x of my initial amount) with the huge spike as I was still not sure whether they were legit or not, but the news did indeed sound amazing... but in the end, as I averaged down big time when it was in 0.6ish, I was able to sell with some small profit (which I have almost lost within the last few weeks).
AI
