Member Info for Bolgas

$50 million credit with zero credit rating, oh yes secured against redT isn’t that a good deal for shareholders, you take the risk we will take the profits, fails we just go bust you pick up the pieces?

Can see the finance house now looking at redT’s income and profitability for last 3 years, falling profits and income with an inability to secure debt to fund admin, hence cash calls annually.

What could possibly go wrong?

- It’s not often someone will spend the money needed to do full DD on a European company, it doesn’t come cheap I can assure you of that.

For the record that’s me, I have spent the money doing a full check, it’s not a pretty report.

Rather then throw conspiracy theories around why not explain or come up with a reasonable explanation as to why this companhbthat is purportedly purchasing $50 million of our product has a below satisfactory credit rating?

Further why not explain why this deal has never shown in any sales reports, latest April 2018, if large scale orders take 1-2 years. Are we to believe that they had this enquiry since April, have modelled the business and subsequently won tenders and then obtained planning permission?

I’ll be first to admit I could well be wrong, however on the facts in front of me I’d be more then surprised. It’s not often someone will spend the money needed to do full DD on a European company, it doesn’t come cheap I can assure you of that.

There had been too much brushing under the carpet here, it’s time to face facts and discuss openly many issues that have arisen of late, notably sale of Camco Africa to Scott for £1 who is the introducer of one of our largest contracts to date being Botswana, why not sack the redT sales guy who has achieved nothing and retain the Camco staff who have many contacts and years experience.

Not mentioning the Camco carbon credit business that was given up earlier this year, just dropped £10 million profitable revenue to concentrate on deals like the tidal project and this great one with zero credit rating,

It just doesn’t sit right with me. Directors appear be benefiting whilst shareholders that have picked up the tab for years are left holding another unprofitable baby.

Should read, in receipt of certain financial papers regarding our prospective buyers.

It’s a confidential report else I’d share it online for all to see.

It does however confirm IMO zero credit application has been submitted as it would fail at the first hurdle, credit check.

Further if the BoD has known about this why not set options at higher prices rather then year lows?

No director buys to install confidence, just sells.

That’s really how I judge a BoD, they should be helping holders not using them to get away cheap
Placements at the little fellas expense.

I could go on of course, but I’ll leave it until my report tomorrow on the finacial state of our buyer.

I also hope for all invested this is a legitimate contract, however based on a few facts I am sceptical, such as why was this contract never in any sale figures reported, last one being April 2018? It’s not in financial close figures nor is it in the pipeline figures.

The company presentation states these deals take 1-2 years, quite how they managed model the project and then get planning since April is quite unusual. Further the company buying has only been formed since 2/2015, no accounts files and the directors appear serial company starters.

I used to work in finance for many years and have many friends in the industry today, none can fathom how this deal will be completed specially considering the income stream mentioned in RNS. Even Scott went on record stating services income is gambling, bankable revenues are needed, these are not bankable revenues from what i have read.

If this contact had been announced to market complete this share price would be well beyond 50p, it’s not. Further i seriously doubt the company’s ability to complete any transactions whilst Vanadium prices are so high, i explained that in the Singapore contract that I believe is redT win.

VSA capital mentioned in one of their research notes that if V prices remain high the company will look at electrolyte rental, that is something an external fund needs invest in or the company needs gonto market to raise funds to then rent to clients, nothing about this is mentioned to the average punter.

Scott has poor form on placings, often at massive discounts to those in the know, thing is those not in the knowncan only go onnwhat is in those RNS reports, from my experience they tend tone short on truth and mislead average Joe into buying something that isn’t exactly as it appears.

All IMo and DYOR.

I have my mate looking into this company tomorrow who does international lending, good or bad i will report to this board. If as mentioned it is redT funding this project then someone else is going to benefit at the shareholders expense. That would make this company uninvestable IMO.

I couldn’t careless where the shareprice ends up, what I do care about is truthful RNS reports to punters.

Think about it, why notify market of a contract that isn’t signed? Look at the tidal project and subsequent RNS’s.

As for this purported company obtaining $50 million finance with zero cash is something I’d hope the average investor could work out. Obviously not FatBanker, there’s a surprise.

Have you looked at the revenues? They are daily and not guaranteed, further it is estimated revenues will decline.

As for financing you are again talking rubbish, name a finance house that lends to a company with zero assets and zero finacial data? Or in this case less then 3 years trading.

If what you say is true no wonder the world had a credit crunch, luckily I know like you do this is a none starter from the evidence thus far.

That sounds horrendous if true, if you are saying redT are financing it but this recently formed company with no trading history is taking the profits, well how does that sound? Risk free for our buyers, hows the shareholders looking?

I’ll know more tomorrow.

you’re not kidding on V price:-

By comparison, to make the electrolyte solution for a VRFB about 145 grams of vanadium pentoxide per litre is needed. For a 1.6MWh flow battery that’s equivalent to 15 tonnes.

http://www.australianvanadium.com.au/wp-content/uploads/2015/02/ESJ-141116.pdf

Can anyone confirm what Scott said at AGM regarding the finance? Is it bank finance and how far into the process as they?

Trading only revenues, meant to have read.

Revenues are not bankable, that might be a problem for a company that has zero income and zero assets.

$50 million finance? Well there’s no trading history I can find for this 3 year old business, with trading only remedies taht are not guaranteed anyone like to name a bank that will be throwing money this way?

Have you looked into this?

“The first phase projects are fully developed, ready for financing, with planning approval, grid connection and approval to supply Secondary Control Reserve (SCR) to Germany and Austrian markets”

Also Scott recently said this, but seems it’s fine for Germany?

While grid services are “a nice upside” they cannot be relied upon over the medium term, said McGregor.

“A lot of people have invested in arbitrage and frequency response, which are risky revenues. It is not going to last and revenues will drop off. It is happening now and, to be honest, I call it gambling. If you invest in those assets, those revenues are not locked in and you are at the whim of the market.”

Instead, McGregor believes I&C firms should look at investing energy infrastructure that reduces their bills and makes use of existing assets, such as solar.

I’d sold out ages ago, I can still buy back cheaper if I so wished,

Thing is when I read that RNS the first thing I did was investigate the purchasing company’s, I have shown you the holding company website, hardly a big player and not one that needs 700MWh of storage.

The actual purchasing company was established in 2015, it appears there’s no files accounts as yet from the website I have looked at. Quite how they are going to raise $50 million is beyond me, it’s not as if they have assets to secure the debt, the machines have little in way of security as is evidenced in our sales figures, besides should they be forced sale it will take 1-2 years to sell them at a discount. Not important, the ability to pay tho’ certainly is.

There’s no details on split between power and energy, maybe they just forgot mention like they forgot mention this contract in all the sales figures, either in pipeline or financial close stage, all easy mistakes I guess when you are busy running other businesses.

If this contract had been with a big player I’d of jumped onboard when it’s an actual contract, what we have today is a Company with less then 3 years accounts, nothing in way of assets as far as I can see suddenly buying $50 million worth of storage to balance the grid, they don’t even have solar attached, just services.

If it don’t look right and all that, please note IMO, DYOR.

Good luck mate, I see in your history a letter of credit being signed would suffice.

For me if they signed a letter of credit I’d know it’s a scam, like AFPO, however that’s because I know what I’m talking about and others just ride a wave and hope for the best.

Btw, Singapore contract is clearly within reported financial close figures in reports, anyone see this 700MWh contract?

No as it was never known back in April but planning and modelling done and signed 4 months later, honest.

https://redtenergy.com/wp-content/uploads/images/1.Investor-Presentation-April-2018.pdf

https://www.younicos.com/younicos-brings-redox-flow-battery-singapore/

From last October, I’m sure that’s a Redt win, links all over the place with us and younicos follow Redt on Twitter, sure sign.

No notification of that win, they have decided tech partner but there’s something holding contracts signed back, now we get this one out of nothing, yes no previous reporting. Something doesn’t stack up, whilst many wont like what I’m doing why should little folk get stitched up like we did with Jabil Inala so city folk can benefit?

If there’s no real sales then just say so, reporting yet to be finalised contracts are distraction for a reason.

Imo this will be sold down heavily soon enough, contacts will take months to sign if ever, maybe eventually we will get another contract such as this one above and Scott will say it’s a good substitute to this monster deal.

Credibilty is out the window if that happens, soon find out.

Energy system management GMBH, incorporated 24.2.2015, no accounts showing on system.

Linked with Rocksi Music GMBH, Litewiser GMBH, waste2chemicals and many others, not much filed for any of these recently created companies, nothing to report financially.

Just can’t see these being taken seriously, looks like serial company starters, holding company has made money but big losses recently, having worked in finance i can’t see anybody taking this on. Last profit €360k, it’s hardly a big player and even if we could hope they are look at their website, home solar installations and the larger ones are not that exciting.

Take a look online, it does not install confidence that this is going to happen. £50 million or $50 million to a company that has couple million assets and big losses recently doesn’t look like a good investment for any bank, imo of course.