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Good afternoon Seattle.
That's a very interesting appraisal but there are several important questions needing to be asked before the Board can start doing high fives because they've finally found themselves in a lawsuit which their lawyers think they might finally be able to win.
Firstly why did Rowan stupidly make payments of $1.4 million to PDI when the agreement announced at the 2022 AGM was for PDI to build the full plant at their own cost and AEG having an exclusive agreement to buy the Coalswitch produced at a wholesale price for retailing to it's customers.
Secondly if this is such an easy slam dunk case for Rowan to win what assets can be seized to secure the return of the $1.4 million paid along with compensation for contract breech and how does this help suffering AEG shareholders who still have no product to sell. A simple Google search of PDI's facility reveals a remote location which won't command a high price on the real estate market and that's only if it's owned with no debts registered against it. Then there's what's in the bank account but please remember Rowan failed to pay PDI $700k for worked carried out at Lumberton and they we're forced to take shares which are now worth a fraction at today's value. Finally there's the potential income from existing ongoing engineering contracts but these will quickly get absorbed into other companies as the legal mudslinging starts to hit the courts.
Thirdly why have AEG shareholders again been placed in another terrible position with no product to sell and no means to produce it. Rowan's previous excuses have blamed Spinks, Scalzo, Esposito, Winyah River Alliance and even the North Carolina Government but still salaries are being paid for total failure and just crazy excuses.
We are constantly reminded by Rowan just how much the demand for a Coalswitch type product is needed in the market and more companies are joining the race to provide this service so it can't be the products fault.
Seeing how PDI were the first to instigated legal action against AEG once again doesn't give me confidence Rowan is honestly spinning this new saga correctly to his shareholders and the fact PDI are going alone with their own steam exploded black pellet only adds further doubts the patents are also just a sham.
Seeing how the significant shareholders register on the AEG website was updated on the 12th February 2024 (so must be correct) surely there must be enough appetite to call an EGM to hold the Board to account. I'm also closely watching how AEG intends to release the £2 million plus in shares it has sitting in the Alpha Prospect investment account so would another interesting question at the EGM.
Contingency US lawyers will wipe out PDI as it is a slam dunk case.
It will make uncomfortable reading in Maine once the details hit the press for the management their employees and their customers.
US contingency lawyers will wipe out PDI and their backers . It is a slam dunk case
PDI have no corner, they were paid to supply something they didn’t. Initiating legal proceedings is standard delaying tactics and costs very little to initiate.
AEG is the party that has lost out from this, should be a simple open and closed case, but obviously time costs money and money is something that AEG are running shorter on by the day.
Literally zero + in that RNS.
PDI suing AEG.
AEG will have to sue PDI to reclame their investment.
Everything else is just fluff.
Plenty of + and - in that, what matters to me :
“Active Energy continues to seek resolution with PDI on various outstanding matters, including the return of cash of $1.1m paid by Active Energy toward development of the Ashland Facility and the return of additional prepaid monies for future services amounting to $300,000. Active Energy also continues to seek the return of its production equipment and components situated at the Ashland Facility or to agreed alternative compensation from PDI.”
“In the absence of an agreement being reached between the parties in the immediate future, the Board will have no alternative to launching legal proceedings against PDI to recover these funds and for the significant damages incurred by Active Energy as a result of PDI's actions.“
That last TR1s been sent by snail mail….
2.5k buy today,must be confident about future. I’ve been confident since 2018 and lost over 90%. Let’s hope this share will start heading north and keep going till I can cash out with at least my stake back.
Oh dear oh dear Janoz has someone been out for a good old Friday liquid lunch and is now full of Dutch courage and wanting to start a fight because the drunken demon voices in your head are starting to make sense and you're realising Rowan has taken you like many others for complete mugs.
10 million for some process patents which have never produced more than a few tons of CoalSwitch product in 7 years sounds very reasonably priced.
Why don't you reach out to Dave on his Twitter account. I'm sure he'll be very welcoming and amused at your expertly calculated valuation.
It's worth paying you. For your big mouth. Patents 10 million.
U get paid for this Dave..its that or you are insane.
Maybe. But of course 600k ..I can shellac this.
“As for the patents Tyler Player has already announced his company will be using a different process to produce their steam exploded black pellet ”
The Shovel and brooms aside, Can any of the equipment AEG has on that site be used for this alternative process?
Janos if you do a simple Google search you will find Enviva, the company where the senior management worked, is also on the verge of collapse. Unfortunately these candidates failed to do background checks into Rowan's project delivery history before leaving so literally jumped out of the frying pan and into the fire which won't be using Coalswitch as it's fuel.
As for the patents Tyler Player has already announced his company will be using a different process to produce their steam exploded black pellet so believe they can avoid the tight protection Rowan has constantly promoted as giving AEG's shareholders security from copycats. Looking at these patents it clearly reads they are for the process and not the finished product so I'm sure legal brains will happily be arguing over their wordings until the very last penny in the bank account is spent
I still don't get why some of their senior management came on board. Its valued at 600k. At what point it had a mid cap of £45 million with an unproven technology. The process has been refined and the patents are there. 600k.
Put your money where your mouth is ;)
Hello
600k M/C this look like way cheap .it worth buy and hold for the strong bounce from here
There’s their other 3m, could get interesting now.
3.5m trade is LO potentially all out, or they might still hold their past 3m.
Either way churn churn churn….. nearly there.
Best case scenario - new engineer firm on board, taking an equity stake, build the plant, Aeg get royalties on any produced/delivered product….otherwise I’d say curtains. I can’t see why the above can’t happen….if coalswitch is that good….binary, defo worth a punt here.
19 Nov 2018: Active Energy Chief Executive Officer, Michael Rowan, said that the approval of permits in NFL, " is a significant achievement both for the Company and Newfoundland and one which will bring rewards for all parties in the years to come....We are also making solid progress towards establishing our first CoalSwitch™ plant in North Carolina on a now identified site adjacent to our JV partner Georgia Renewable Power LLC's operation in Lumberton. We anticipate achieving first commercial production of CoalSwitch™ early in 2019..."
Lots off buy volume but no movement on share price in any direction a?
15 October 2018 Michael Rowan, Chief Executive of Active Energy, said, "I look forward to providing further updates as we install the first CoalSwitch™ plant at GRP's Lumberton facility in North Carolina in the coming weeks."
2 February 2021 Michael Rowan, CEO of Active Energy, said:
"The Fundraise and the CLN Restructuring represent significant milestones for AEG and will allow AEG to progress and accelerate its business plans for CoalSwitch™ and the Lumberton site. Construction work is underway to complete the commissioning of the up to 5tph reference plant and to fulfil our first order for the Coalswitch™ product to PacifiCorp. The principal focus is to develop the unique Lumberton opportunity and establish a significant production facility at the Site in North Carolina. In the long term, the Company aims to build a business that is a global provider in next generation biomass solutions and services. We look forward to providing all stakeholders with regular updates within the coming weeks as we progress towards commercialising and producing AEG's next generation biomass products."