There seems to be some issues with this absurd valuation.
First: If any such project was signed, that would be a reportable event. Where is the 8K? Something just does not jive.
Second: 3Power only owns a 75% stake in Shala Energy, so that alone knocks down the valuation as money for the construction will not count all towards valuation.
Third: The project will work with China Water Resources and Hydropower Engineering Bureau Co., Ltd. to ensure the smooth completion of construction tasks. Seems very clear that the bulk of the money going to construction will be given to the Chinese company which will do the actual construction.
What is even more odd, there is nothing stating the actual breakdown....IMO, Shala would get less than 5%, maybe even less, but Shala is there in name only.
Again, way overdue for an 8K, I just have a sneaky suspicion this deal is nowhere near the level folks think for 3power and an 8K is two weeks overdue which is a very clear RED FLAG. Not to mention there is absolutely NOTHING on file either. Why is there nothing posted on either website. Why is that? Especially given if this was all a signed deal on 9 March?
Again, none of this DD makes any sense.....if this was such a huge deal, where is the 8K, and why is the company not posting anything on their websites?
Valuation, if anything maybe .20 from fees, but thinking this is worth $100 a share is an absolute joke.
Sorry,
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