IMO, Vinny and Luiten are quite different as are the public offerings of PDGT and ZENG. But, spotting the flaw in both companies is the same.
Follow the money.
Why did Zenergy go public? Was it to raise public money to buy and run old biodiesel plants? NO! The shares Zenergy owns has remained the same - Zenergy did not offer to sell shares to the PUBLIC. The shares traded came from founders and the founders received the cash to their pockets. This selling of founder shares was the reason for ZENG going public.
On paper Zenergy had received loans – over $700,000 of loans before it went public. What did Zenergy buy or own – one $900 computer. It supposedly paid no rent and gave no salaries. These were sweetheart loans with no cash given for the loan. The money never showed in filings or things owned. Maybe they paid for a few things in cash, but mostly in 3rd party stock as in PSC touting promotions.
Greenlight was acquired on more loans. No financials (transparency promised) have been provided, but a PR said $1.5 million in additional loans. Then there is the matter of some “investor” putting in $570,000 in cash but the 3.8 million shares for the “investor” were never provided – some sweetheart deal to hide what really happened.
Way to spot a scam – look for what the company has done with your money. In the case of ZENG – nothing because Zenergy raised no money from the public. Zenergy owns nothing (assets) – ZENG owes much more than that (now old) $900 computer is worth.
Can Greenlight make it all better? There is no sign of that and it has been 3 months since we saw a PR from Zenergy. IR knows nothing because for those three months IR has promised a PR (told by ZENG) this week – IR says this week after week. Zenergy’s silence confirms the pictures of a shutdown plant several have posted. IR or ZENG could state Zenergy IS producing, but has taken the “That’s inside information.” route. The silence tells the story here.
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