Member Info for DJ79

Hi Roger,

Assuming 1 Watt-peak equals around 1 euro, this would amount to around 850000 euros. However, take this with a grain of salt.

Better than nothing at least. Hard to gauge wether they are downplaying it or it is very thin anyway. Good to see they are able to sign agreements and sell their stuff

Yeah its the same one. This is just the opening ceremony

RR's emailadress works also fine

I am looking at the price which is mentioned for Verditek on supplier websites. Of course there will be a mark-up for the intermediary, but solar panels per 1 watt peak usually cost around 1 EUR. Verditek panels have a WP of 300. @banana what specific panel are you referring to?

https://ijopower.com/products/verditek-flexible-panel

Verditek panels cost about 360 pounds per panel. This project is fine, but its more the thought that things are actually moving which I can appreciate more

Have to rectify the amount. Their post says 400 panels

https://www.linkedin.com/posts/verditek_energy-project-solarenergy-activity-7023160358982864896-nHr1?utm_source=share&utm_medium=member_desktop

Nice sale of 120kW of panels. With a peak Watt of 200 per m^2 that's around 600 panels.

They should just pull the plug

It doesn't really help if you first say that they're going bust and then try to sell.. in the end every seller needs a buyer

Hi all, I've been invested in Verditek for a few years now (bought in at 8 unfortunately..). Last year I started a master's in engineering, specifically focused on renewable energy generation. Recently we have been covering photovoltaics and solar panels so I thought I would have a look at the specifications of their panels as they are listed on their resellers' websites.

Perhaps there are clues there why the product is not getting sales, but honestly, I couldn't find any. Their product looks solid. They claim the watt peak (maximum amount of electrical energy they can get under standard test conditions) is around 200W per square meter of panel (they have different products with different sizes and watt peak, but calculated for 1 square meter they all generate around 200W). This brings their efficiency to about 20%, which is pretty good for commercial panels. Their decrease in efficiency from rising temperatures also is on par with what you would expect. Next to this the panel is flexible, which allows you to bend it in such a way that it tracks the sun more efficiently, increasing the actual output over a day compared to fixed panels. This is just a very solid product (on paper).

Maybe I am missing something here, so please if anyone else with some experience in this field is able to comment I would be very interested! If the product is good, but no sales are happening, then the board members of the company are either huge scammers or completely unfit for their role.. I am starting to get more worried it actually is the 1st.

I used the below sources:
https://cdn.enfsolar.com/Product/pdf/Crystalline/5cbfc454f2df9.pdf
https://www.roadpro.co.uk/product/02h03-flex-solar-panels/verditek-142w-solar-panel-top-junction-box-c5902/C5902
https://ijopower.com/collections/verditek-solar-panels/products/verditek-flexible-panel

I am not too enthusiastic about this certification. The certification itself does not equal sales, which is what the company needs. If their current product doesn't really sell I have very high hopes that the next one will. But who knows Verditek might be piling up the potential buyers during these silent times.

Since the busted Paragraf deal things have been going south non-stop.. Might be worth an investigation. Its of course very weird that every time they announce a JV or interesting deal it goes down the drain a few months later

Just ride the wave with them I guess. They can't squeeze you out if you don't sell

Good to have you back Sophie1.

2m raise and with the current overhead we can sit back and relax for 2 more years. Given Verditek has had all the bad luck in the world I will gladly take my chances

In the end it's a numbers game. Of course, the JV is good news, but it is pretty hard to gauge what will come out of it financially. The products still need to be shipped to sales representatives, let alone selling them. Nothing is clear about margins either. The potential is awesome, but I would love to see numbers confirm it

I got in around 8 and pretty much assumed my losses to be definitive. I do think Verditek has the potential to break even relatively quickly once sales actually start materializing because their costs seem to be reasonable and their stock high. The issue keeps being timing since their cash position must be very low by now. Their communications have been lacking for sure, but I feel like they preferred taking a step back from their approach of the last years, which was communicating excessively and then having to disappoint when things turned out differently

That was me. This is the original post from that thread:

I wrote a pretty annoyed e-mail to the Verditek inquiries e-mail and got a reply from Mr. Richards. To be honest, I didn't really expect this, but I really appreciate his fast and open reply.

"Dear Mr [...]

Thank you for you email and for being a shareholder in VDTK.

The financial results for 2021 are not due until the end of June, at the moment we are in the hands of the auditors who are being particularly slow as they are still predominantly working from home.
We had hoped to get the results out sooner but not everything is within our control.

We have issued a few RNS statements though I can admit nothing earth shattering.

We continue to win projects on a weekly basis and have recently launched the PV Tile in association with Metrotile, which we believe is a great product.

It is not the intention of the Board nor myself to “mess over” any shareholders and we all, with the exception of the Chairman, have a substantial stake in the Company.

None of the Board members have sold their stock.

I can admit that things have been slower than I hoped but we are on the correct track and expect to see positive news in the coming months.

Thanks for taking the time to write to me

Regards

Rob"

https://www.paragraf.com/paragraf-verditek-joint-development-agreement-announced/

I wrote a pretty annoyed e-mail to the Verditek inquiries e-mail and got a reply from Mr. Richards. To be honest, I didn't really expect this, but I really appreciate his fast and open reply.

"Dear Mr [...]

Thank you for you email and for being a shareholder in VDTK.

The financial results for 2021 are not due until the end of June, at the moment we are in the hands of the auditors who are being particularly slow as they are still predominantly working from home.
We had hoped to get the results out sooner but not everything is within our control.

We have issued a few RNS statements though I can admit nothing earth shattering.

We continue to win projects on a weekly basis and have recently launched the PV Tile in association with Metrotile, which we believe is a great product.

It is not the intention of the Board nor myself to “mess over” any shareholders and we all, with the exception of the Chairman, have a substantial stake in the Company.

None of the Board members have sold their stock.

I can admit that things have been slower than I hoped but we are on the correct track and expect to see positive news in the coming months.

Thanks for taking the time to write to me

Regards

Rob"