(All of my notes below:)
No problem ,
I wanted to learn more myself as part of DD. Heres all my notes on one post so you don't have to go back and forth.
Welwind notes 2-18-2009 4 pm. PST
Tammy mcnabb / Larry McNabb (Others as well could not type fast enough or spell well enough)
Eva (Translator)
ZHANJIANG
Big steel project. Delayed by Gov.
Construction Logistics Milestones met
YANGXI
Collecting data on wind.
Initial stages submitted this year prospectively (late summer ) for approval
Nig see(?)
Backed out of because wanted position in North America. News release in mid Jan
Had a minority position… no ultimate control
Peace River BC
Cold winter access problems set back. Spring months will anchor towers down. Save 35% installing in spring
ALBERTA also spring
GUANGDONG
750 turbine
How cover expenses if no PPA? Issue more stock
Incorporated in US and Canada independent of Chinese Gov
March 11-16 New York meeting investors welcome (details forthcoming?)
Q&A .
Q: 1) Solar (viable?)
A: Market wasn't there in past ... now they hope to pursue in N Amr.
ISSUE: takes up land. Joint venture between Canada and USA Roof top project.
2) Q: Operating expences over next few months.?
A:- No employees except in China / Low overhead is typical for them
- Tammy sells her stocks for money and has about two years of unpaid services.
3) Q: Current delay of PPA issue. Why the price spike (.10) and as a result to news and was this irresponsible?
A: -Chinese government has some play in news and how it changes. Pulling out hair working in China
-PPA delayed for over a year; investors are concerned. Since we are on the other side this forum helps us stay in touch. Company can only provide information it is given and the press release came out then local complications delayed. Not losing the land (Island) but using a separate location. Initially wanted to be there to take advantage of refinery that was going to be there.
YANGXI
Not held up by data collection... construction approval. Express that they have PPA.
New Question
Q: Since we have PPA and are waiting on Construction approval, where does schedule for Zhanijang fall? (1st QTR?)
A: Coordinating Welwind construction with Government construction. Chose area because it is right next door to Steel manufacturer... lower cost to supply power. Never seen a project go on time... good thing is work can go 24/7 in China.
Q: Is Yangxi turbine generating revenue or is it free power for them at Welwind expense?
A: (Mr Lee answers) Mumbo jumbo.... Local gov wants to support this and helps with PPA ( guess it is just publicity)
Shannon takes the question over: Says that it will be part of negotiations and strategy going forward.
Q: 188 mil shares outstanding as of last report... what is it currently?
A: 196 mil (Tammy) 15 mil shares are to be bought back by the company on the record.
Q: If PPA is approved why do we not see terms?
A: paperwork not completed. National reform committee of China needs to stamp approval. If there is a section of land with , lets say a pond with animals in it or a certain type of bird nests there, they can limit or reduce the number of turbines or moving the position. So project is not lost.... they are searching for a definitive stamp of approval... slow going process. Figuring out the "Hows" at this point.... logistics.
(Tammy) CHina is a learning process. Welwind owns the Zhanjiang and Yangxi 100 %..... no plans to do anything but move ahead in China.
Q: Terms of project that was renigged on... how much did that cost?
-Time and effort... left on mutual terms
Q: Other PPA issues
A: 4 years getting PPA for a project and it sits because Crown Corp. issues. So not just CHina... happens everywhere (Canada...etc)
"In this for the end of the rainbow and they are almost there"
-Shannon De Delley
Tammy-
says that it is a good thing that Shannon is in Welwind and Windcor. Not negative
Shannon-
Says he has a lot to gain from success even though as of yet not being compensated personally
Q: Solar project in Caribbean was talked about... How goes it?
A: - Looks like it going ahead
Q: Complimentary wind tubine on Island is great, will industry in area affect wind harvest and are there footings going in? Cabe being layed?
A: No construction yet....in a hold pattern ; negotiations ongoing.... could get PPA tomorrow... hammering out the deal. Not looking at it being in a year from now.... anticipate things moving. Since it is inland and not offshore, timing is an issue. Reform Commission needs to approve.
Q: Dec 1 2008 Press Released. Said that details would be provided in a week and we saw none.
A: They provide info that they have.... did not anticipate delay ( should not have made promise..my opinion)
Larry- China doesn't have the same idea about communication that they have... hard to help delays.
Mr Lee- Government approval and changes/ adjustments are a challenge (mumbo jumbo) Lots of details worked out.... final approval pending.
Tammy- Mr Feng has put a lot on the line. Company not discouraged by delayed... work every day to make this a viable company.
Q: Is Welwind an actual company?
A: Tammy- We don't look at message board, lots of illegitimate information on the boards. As an OTC company that pays alot to be legitimate. Of course they are a real company. website went down and doubts came up... unfortunate. Message boards are there own beast... Tammy feels attacked in a vulgar way as only female. only weigs 130 lbs not 220lbs
Q: Where is focus in N Amer and Canada?
A: Shannon- Projects are in the pipeline so they can flow thru and if some delay... others go thru. Right now loading the pipe. Not withdrawing. Canada a little behind... focusing back on N. America. Market place will get injected w/ money and Jobs... win/win/win situation to be positioned on both countries. Doing business in the right places.. glad to not be automakers haha. Getting attention... recession proof sector.
Q: Lots of investors talk crap. This guy Fabian is proud to be an investor. (comment only... pretty much telling GNOTE to go to hell)
Q:: Starting own blog was talked about. Mr Lee in contact with powers that have pull...can we get updates that are not press releases?
A: Luis (Lawyer).. If shareholders can access equally (notified) can look into. Probably need to do on a case by case basis. Discussion of whiteboard info. Legal issues may be construed as insider info.
Q: Large investor says he appreciates this CC. Things are REALLY HARD right now. He knows. sounds a little perverted
Q: How much do the turbines rotate? 360?
A: Shannon: almost 360
Q: Are you open to using large eggbeaters to make power?
A: Vertical access Turbine is newer. 3 arm turbine is archaic , lots of new research by ENGGA.
1 megawatt can be converted to 10 Megawatt by using vertical. conserve land. Exciting to look at possibilities. Lot of out of date models will continue to be used till countries accept them. Lots of great designs coming out.
Q: What are we looking at in US Territory? Stuff to take advantge of Obama's injections of money?
A: Larry and Luis: Cannot report at this time. when it is concrete they will announce. Aggressively seeking projects in USA.
Do NOT want to miss out.... no question.
Q: You are great keep it up
No further questions. Over 100 in attendance
in NYC March 11-16th- welcome to contact Tammy by email to get together with.
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