Replies to post #56901 on SunWorks Inc (SUNWQ)

[Captmoon]

I agree with your assessment that Jim Nelson is doing a spectacular job leading this start up company to be a juggernaut in the solar industry!! What a great time to be in solar and even a better opportunity to be with Sunworks!! Amazing times a'comin..

[ahk6608]

Well I think your colours are showing through.

Truth be told when you say you asked Fresno, the question presents itself as to whom you asked to explain the situation.

Unless it was a legal representative it would only have been a general public information official.

Legal finer points are complex in their details and unless you know the exact setup yourself you are ill placed to make any judgement on the veracity of any statement by either Fresno or the companies involved in the Fresno transaction.

Example

In the UK, standard property purchases of leases, involve the exchange of contracts prior to transfer of total funds or property title.

So:
Step 1: I bid on a property.
Step 2: My bid is accepted.
Step 3: The contract is awarded and physically sent for signature.

Now this contract may come at the cost of a deposit or it may not. However, it is modified by terms and agreements during further negotiations. Notice the language the contract has been awarded.

Now if I buy the property under the condition that the land and what's built on it gets approval for changes and modifications by the city Planning office. The contract is modified subject to approval and signed or exchanged legal term.

Completion only occurs once approval is granted by the council. Should it not be approved , the transaction does not complete and the contract as it doesn't satisfy terms is null and void.

I am not saying that I know the legal niceties that are of required in the transactions involving city councils, public utilities or the contractors they wish to employ, in that particular state or city jurisdiction.

What I am saying is you have no real factual evidence that entitles you to make a direct accusation of wilful representation without knowing the exact legal protocols involved in the transaction.

[buckylaw06]

Here's my recollection of what really happened with Fresno.
1. The incompetence shown at the city council hearing was that of the public works department, which solely made the presentation. MD Energy was not the entity presenting the proposal to the council.
2. There was, in fact, a signed contract. My best recollection at this very late date was that there was a publicly available contract, which was signed by the Fresno city attorney. However, the contract stated it was subject to approval by the city council. That's not some bizarre, unheard of thing. It is called a condition precedent. People that really know about contracts know this.

I asked Fresno at the time and they told me that no contract had been awarded because the city council is the body that awards contracts. The company could have said something like "We expect to be awarded the contract in the future barring an unbelievable amount of incompetence on our part", but instead chose to lie and say they were "awarded" and even "executed on" the contract. The subject to approval phrasing is a total joke, just like most things they do, to get more people to buy the stock.

They probably really did think they were going to get it, so they thought they could get away with putting out those two PR's. Unfortunately the whole episode revealed live on web-stream how incompetent MD Energy was. Maybe JN should have done the same level of DD on them that Fresno did so he could have avoided wasting more of your money.

[Tommy John Surgery]

I asked Fresno at the time...

Oh. You asked "Fresno". Well that makes me feel better about your statements. Because "Fresno" and you don't lie as you state JN does. Hmmm...