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Somewhat reminiscent of B9 Coal, another White family enterprise. About 10 years ago they were trying to burn coal in situ underground to generate electricity from syngas. Their Director, Alisa Murphy, turning up at engineering conferences, turned out to be a PR person, it was all spin. Which is rather what worries me about W2T. Mercifully, given what happened in Australia, it never succeeded.
It's just a shame that the "Prospectus" to shareholders can't be issued now so that we can see it, then we would know exactly what is being proposed and we wouldn't need to speculate any further.
Why can’t they focus on worldwide issues now?
John Hall, Managing Director of Waste2Tricity said: “This acquisition means the combined business can focus on the worldwide marketing of this revolutionary technology and we believe there is potential for several 1000s of systems producing electricity in South East Asia and Japan alone.
WASTE2TRICITY IN TALKS WITH JAPANESE GOVERNMENT
Boo80 - In respect of your very interesting 10.12 post you ask me about the Chairman whose name you could not even remember. I cannot say what he does on a daily basis as far as promoting PHE is concerned but that does not mean that he does not do anything to promote PHE.
Can I ask you to clarify something from your post ou said that 'Harold white (W2T) has been doing more work to introduce and drive this company forwards and don't forget he has a very large shareholding in this company already' I presume that this shareholding is below 3% as he is not on the list of significant shareholders.
I would point out that W2T in some of it's statements seem to cause confusion as to who owns the DMG technology and it is this confusion which is I suspect in part behind Peel and possibly others asking for a simplification of the structure. This simplification can be achieved by PHE giving 90 days notice under the representation agreement to terminate it. One of the things I would be looking for in the shareholders circular is an explantion as to why this route was not chosen.
BumbleB W2T brought in David Ryan as Technical Director then got rid of Keith and made David Ryan CEO due to Dave Ryan managing the construction of the unit and running the testing and enhancing program on the unit and doing all the stages getting ready to be able to upscale this into a commercial unit
Unfortunately Keith CEO at the time was not a technical man and therefore was not pushing the company forwards apart from being a I guess you could call him as a sales man but he made an awful lot of promises to generate fundraising to keep the company going but never really delivered an awful lot of his promises and was very good at finding excuses to justify them there is more I know about why we got really Keith but that's not for me to say
So we voted Dave Ryan as CEO who was an employee of waste2tricity
So how people do PHE have working for them full time ?
Keith did not have any contacts in the industry?
One of the largest shareholders of the company has done more work for this company to introduce it two council's of governments and industries then Keith had ever done he also so is not being paid for this work where Keith was being paid over 100000 a year
Stokey if you want to split hairs as you did not originally mention him as that title so I didn't want to confuse you the Non Executive Chairman what's his name and what does he do on a daily basis for the company? I'm pretty sure you can Google his name but I really be interested in you describing his activities that is driving this company forwards
Harold white (W2T) has been doing more work to introduce and drive this company forwards and don't forget he has a very large shareholding in this company already sometimes value is what you know and can bring to the party than just the venue itself
Boo80 In response to your 17.09 as far as your criticism of the Chairman is concerned I find it inconsistent to the circumstances of when I first met him which was not at the AGM. Also I thought he was a Non Executive Chairman so would not be involved in the day to day running of the company. With your intimate knowledge of PHE you would of course recall that originally David Ryan was the Technical Director not the CEO he was promoted to CEO in February last year. So even if he was bought into the company by W2T it was for his technical engineering skills.
So what do W2T actually do Boo80?
Stokey you have just answered the biggest question for me the chairman of our company does absolutely nothing just there as a title and the CEO was introduced to the company through waste2tricity
Boo80 - In relation to your 12.17 and 12.25 posts I would observe that the grant is coming from the Local Enterprise Partnership the Council is one of the members of the partnership but it is not the council. Planning permission will be decided according to the Local Development Plan and applicable planning law. The existence of any grnat funding is not a material consideration and will not be considered by the committee. I am not even sure that the planning officer is aware of the grant.
In relation to W2T based on the answers to my questions and others at the AGM I am not convinced that anything you said about the position PHE would be in without either this acquisition or W2T is true. If W2T were not in the picture I am inclined to the view that the CEO and Chairman between them have enough industry contacts to take PHE forward.
Smokey also without W2T our value would be far lower than it is at present see you say what is in the interest of us doing the merger well would you like to have a 100% of a business going out of business or 60% of a business that could change recycling and waste management around the world
The valuations are all hearsay anyway what's the difference if we valued at £1 or 100 billion pounds we don't make any money we don't have any patents we are are a concept company and unless we make this this into reality is worthless
Stokey do you ever talk to the company or any big share holders to see what and why they think it's a good thing to do or do you just talk on here for the fun of it
A couple of things I don't believe a council would give a grant if they weren't confident of giving you planning permission considering that the company peel who wants to unit is a multi-million/billion company and the information that I am aware of is that peel I would like the merger to happen to simplify business going forwards funding for such a small project considering the large projects they manage and run and the way the technology will change waste recycling/ management and we have taken the brunt of all the design and development cost up until now they are getting a technology on the cheap
Boo80 - In relation to your 12.03 post if we apply the but for test and ask but for the acquisition will the unit be built. As the acquisition agreement post dates the collaboration agreement I cannot say that is the case. I would decouple the two and ask is the acquistion in the best interest of PHE. I am undecided on that and await further information before coming to a definitive answer.
Although I think the company could have been managed far better in the past
Without W2T who are the ones that have been given the 1.2 m Grant and they are the ones with contacts in peel and due to the way the company has been run in the past without their help with we may have paid to much for and might give 40% away to them now
But I am looking at it from we can have 100% of nothing and go out of business or work with W2T with can only make any money going forward if PHE make money and up to now has made a big fat 0 profit so far but a lot of dilution of my share holding
There are a lot of people on here have never spoken to anyone at the company or understand how small we are and if we don't get one of the units built we will go out of business because we have kept raising money and not delivering what we say we where going to because if we had done what we have said we would already have one built and running for say 2 years I've been here a long time and I was there when there was 3 share holders and more board members at the AGM
There been so much talk let's just do the merger every one working on the same side and W2T are on our side and just get the first unit built then when we have made 20 units we will look back thank W2T for helping us because we will have nothing if we go it alone
z-cars - In relation to your 10.53 post I would expect for a transaction of this size an appropiate level of due dilligence will be done. In that case I would expect the due dilligence to be incorporated into or referenced in the shareholder circular. I must say that some of the concerns you mention have troubled me. I am not entirely comfortable with a valuation based on what income will come from the transaction.
I'm not impressed with W2T, what exactly have they achieved? They've introduced PHE to Peel who have since supported PHE, they've paid £400,000 for service work, which probably accounts for most of the £500,000 debts carried by W2T which they want us to buy back, they've had months to prepare for planning permission, and made a hash of that. PHE have a collaboration with a Spain company, what collaborations have W2T achieved? HW says that he doesn't want vast amounts of money, but he clearly wants a big pay day for him and his family for doing what? no wonder AFC dumped their shares in W2T, AB didn't want to carry around a dead weight.
You certainly won't see a valuation by looking at W2T's balance sheet, that's for sure. Nor from any other non-PHE project work they may have been involved with in the past. That's not what the PHE take-over is about.
yellowf1 -In relation to your 07.25 post as a small private company W2T has relied on exemptions in company law to not file a profit and loss account. It has only filed a balance sheet. It is therefore impossible to know for certain the answer to that as it is not obliged to disclose that information.
None so far, as far as I know, but then you know that already yellow.
I have.
No yellow, that's not it at all. That is the SPV, that is not W2T.
https://industrywired.com/The-Most-Disruptive-Tech-Companies-of-the-Year/#page=14
https://www.edisongroup.com/publication/contracts-for-feedstock-supply-and-power-sales/24207/