Member Info for mister_tidal

@Tidal_lover it's weird how you are annoyed by @Stragny83's comment and not by @Troajan's. Because, I mean honestly, who gives a damn whether 1.20 is the bottom or 1.00, or 0.90. This company IS AT THE BOTTOM. So.. just throw money at it. If this company ever survives it can only go up at this point. Same goes for what Strangy said.. can go down as well.

With that being said, the worst comment in this thread is its first sentence "1.20....could be the end,of the downtrend..imo" because there's literally nothing of value here unless anybody here recognizes Troajan's reputation as significant enough to make any decision based on his opinion. No offense btw @Troajan. I'm no admin and you can post whatever you want if you ask me. I'm just trying to make a point for @Tidal_lover.

Can't spent any money ..

.. if there's nothing left.

:D

Just got an update:

"It's definitely survey work they're doing. They're transiting back and forth through the Firth parallel to Stroma at almost the mid point between the island and the mainland. Strange thing is they've been surveying the same patch for what feels like a week now"

---

My opinion: Knowing what we know, it could make sense that they're taking measurements and/or look at optimal sites for new turbines already? Or maybe they're creating a more detailed map of the seafloor or something?

> Apart from.AR Fleet that we no longer own or have PI what have we created or succeeded in doing over the last 3 years???

I don't get that question. Nothing happened and you know that. Uskmouth didn't happen, GHR has been sold and BESS is just a plan B to stay alive. The things that DID happen are now over at Proteus' e.g. they received £1.5m for the connection hub and they delivered a turbine to Japan. Further, they've been active at the TIGER project and have been involved in the planning and consenting of tidal turbines at Raz Blanchard. The only part where things happened are sold. Please tell me how I am wrong with my assessment.

I literally cannot think of anything else of interest that happened except the CfD which SAE got. The only straw we can hold on to ..

> What is SAE now?

Good question.

> What assets do they have?

According to Simply Wallstreet they have ~£73m in physical aassets and £11m in other things so around £84m assets but also £53m debt.

We can assume that most of this is their hardware. Whether or not you'd get that money if you want to sell their hardware now is another question.

> Then look at monies raised in the past. Where has this gone?

I'd argue licences, research, labour and personel cost and hardware.

> After the unknown sale info regarding Proteus where does this leave the balance sheet with regards to debt?

I guess unchanged plus whatever they got from the sell-off. Some expert should answer whether or not they have to disclose the value of their stake in Proteus. But even we they disclose that as a amount of £, we still don't know how big their share is so that's that..

> What is the actual timeline and plan for Meygen 2.
> But what will they be executing going forward?

That's also a good question. However, with the CfD in their pocket they should be able to get funding. As we (kind of) know, 1MW deployed produced 2300 MWh/y times 28 totals 64400 MWh/y at a price of £178.54/MWh gives us approx £11.48m/y that is £172.2m what the'll get from this contract.

Which means, each 1.5 MW turbine must not cost more than £9.1m, or each 2 MW must not cost more than £12.3m. This should include maintenance over the next 15 years I guess?

If they can buy those turbines at that price somewhere, e.g. from Proteus, then they should be able to get that funding. After all, this revenue is guaranteed by the CfD.

> Is it just Meygen 2.

I think so. Proteus has taken over TIGER, Japan, etc. but no worries... SAE's got MeyGen.. *cough*

> We know that will go to 2025 and a little beyond as that is the nature of projects but what then does the entity if SAE do?
> If they go into for example something that got me into the shares, which was power station conversion....
> Then what role will they play?
> With regards to Uskmouth..

Uskmouth, to me, was never anything more than some revenue from selling energy. They do not produce their own pellets, they had to buy everything into the company. The only thing they had was the old power station but nothing more. SAE, in that regard, is like Nikola Motors but even that company has started to vertically integrate by buying a battery producer (Romeo Power).

And now MeyGen feels like Uskmouth. They have to buy the technology because they're not producing it themselves. Anybody can now try to get consent for a site and buy turbines from Proteus (or other producers).

Does that answer the question? That's at least my take on it..

> What am I now actually invested in?

I think you already know.

What keeps you from adding now? SP is at 1.25

@Strangy83 What do you mean?

I found SAE at the end/start of 2018/2019 and bought in around May 2020. Bought at 7GBX right before the Uskmouth-climb to ~30GBX. I don't have to tell you how it went since then. #MotherOfAllCorrections my ass [1]. The day he said that I knew thinks are not looking good. Because you don't say that if things look good.

What part makes me look like a tool? Not sure what you mean.

[1]: https://theenergyst.com/simec-atlantis-ceo-share-price-set-for-the-mother-of-all-corrections/

@littlegrandma I get your point but I don't understand why you still accept their comms. After all you are, like me, just guessing. And that's an accusation that I think we'd all throw on SAEs head. So, if we all agree that their comms are inacceptable, why not get active?

How would you know, whether you're already invested in SAE or not, whether or not to invest more, sell or just hold?

I absolutely understand that companies usually do not share a lot of details on how they operate etc. But this *could* be a very significant and potentially shameful move. We don't know. Maybe everything already. Maybe.

I feel like I keep repeating myself.

But still, just the fact alone that they're not disclosing this information is ridiculous. I mean, to a degree, they don't even have to disclose the amount they received because we already know it's eyebrow-raising small.

If I asked anybody on this board "HOW MUCH would you think ATES *could* be worth?" I'd definitely assume people would say: More than £10m.

Maybe I am the fool here but would anybody really have expected that selling this division plus its entire equity for so little money? Wouldn't you expect that it should cost something closer to the amount of debt they have? After all, development has its price, right?

I'm starting to get tired of this discussion. Not blaming anybody though.

It's unfortunate the SP didn't drop further s.t. they're forced to writen an RNS but I am pretty certain that this wouldn't really contain any more details than what we already have.

All I know is that Drew Blaxland, former director of the ATES division, is now the CEO in two companies [1]:

- PROTEUS MARINE RENEWABLES LIMITED (14226131)
- PROTEUS TIDAL (UK) LIMITED (14229564)

TIDAL appears to be a subsidiary of MARINE and SAE has its "minority stake" there but we don't know to what extend.

Now buy the dip I guess.

[1]: https://find-and-update.company-information.service.gov.uk/officers/T7wNqy10vlm6SyNRvqTOQmgR5bA/appointments

@Everyone who thinks there will be an RNS (especially you Tidal_lover)

SAE made it clear, in a phonecall I had with them, that there won't be an RNS with this kind of information.

- we will never officially know what SAE got for selling the division
- we will never officially know what their stake in Proteus is

We do have the option to lean back into our seats and wait for things to go on and watch how our investments evaporate and disappear eventually. It could happen. But there could be information that would make me think otherwise and its these questions above I need to answers to.

@Tidal_lover it fascinates me how you are willing to blindly "go with the flow". If you think the low SP right now is an opportunity, go ahead and buy the dip. Nothing wrong with that, but blindly ignoring the risk you're taking is just foolish. Investing always has been and will always be a non-perfect information game but there's a tolerance limit.

@BogdanT Thank you!

@mcco Until somebody shows me evidence that we didn't get screwed over, I am going to accuse SAE to have sold off their ATES division for cheap in order to make the company effectively private and, until there's something that lets me think otherwise, that this is just the first step before Proteus takes over MeyGen.

Do I have proof? No.

But is everything they did so far very alarming? Yes, yes indeed. I don't want to get down the road and start talking about how close this company is to Gupta and that, over time, my trust has eroded significantly.

I don't think it's "careful" to sit and wait for the worst to happen. It's literally their job to tell investors how big decision like this are going to affect the company.

To me it looks like they want to frame all this as some "minor" step. "Awww, look at out tiny insignificant turbine engineering division and how it spreads their wings. Those few Pounds they gave us weren't even necessary and have primarily a symbolic nature. Fly, fly away little bird and take away all the intellectual property that you got from the public money and from the debt we build up on the shoulders of investors. And you, dear investors, you don't worry. We got this. We have a minority stake in that little tiny bird that we're not going to disclose but we PROMISE, we only have you und the value we provide to shareholders in mind."

Maybe they're inspecting the site for the installation of the new turbines for the next phase. That could make sense..?

A small update from my contact:

"I had a look at the board* you're posting on. It is definitely not a boat for installing a turbine. It is a much smaller boat (well, all three boats have been quite small compared to the North Sea Giant used for install. The must be doing some inspection work or something. I can't see anyone on board and I can't see what's going overboard. They've started only putting things in the water facing offshore so we can't see (I think)"

*He's talking about this particular thread apparently.

Yes, indeed.

What does it mean.. fourth turbine installed? Just a monitoring thing? Proteus inspecting their new toys?

¯\_(o_o)_/¯

Does it make sense to file a report here:

https://www.fca.org.uk/market-abuse-reporting-form

?

@BogdanT

"It can be assumed that the deal is bad for the company and that's the main reason details aren't disclosed. My guess is that the Ates division has been sold to a friend manager in a very good gift deal."

Exactly. The news can't be "so good" to be not reported.

I didn't trade SAE stock on the LSE but instead on the Stuttgard (Germany) stock exchange. Would that allow me to file a complaint at the FCA?

Does anybody know how to properly file one?

One of my contacts lives near the MeyGen site. In fact, he's close enough to see ships over there so, for example, as SAE deployed the third turbine, he sent me a picture of the vessel at work there.

Apparently, there's a lot of activity going on right now over there.

From 23. of October:
"Well the site is certainly busy here this week with three separate boats up to something. Not sure what they're doing though"

From 25. of October:
"Is it a coincidence that SAE has a boat out at the turbines with no AIS on?"

NOTE: AIS stands for "automatic identification system"

"The activity here on site has been very odd. I can't make out what they're doing but they've been stuck in the same spot all day every day for the past week"

Today I asked him if it was okay for him if I shared these messages with you.

I guess nobody can tell what this means but it looks to me as if this kind of activities are unusual in his eyes.

Ok, we're on the same page here. The only difference is that I wouldn't mind to act now and not later.

But would you said is one of my fears: SAE just shutting its doors and Proteus scooping up what's left.. MeyGen.

@keltickilla What more confirmation do you need here?

We know what we know. Strangy83 and me already had calls with them and besides some generic explanation on how this would benefit the company they didn't explain anything.

We know that ATES has apparently been sold for a ridiculous amount. I want to see who and how the ATES division has been valued and in what way the amount of money they agreed upon has been justified.

Again, tens of millions of Pounds have already been invested into SAE and it's tidal turbine division and now they're gone with all that intellectual property and know how for a jew million, if at all, Pounds? And that's already what WE KNOW FOR A FACT.

What kind of confirmation are you waiting for?

.. can see what progress has been made.

To all shareholders who want to act fast on the recent news.

ABSTRACT

With legal representation (LR), the goal would be to force Simec Atlantis Energy (SAE) to clarify what happened, how they justify it and how they did NOT pull off a shady trick to make the most valuable part of the company private without the consent of shareholders for pocket change. The idea is to find legal representation for the collective of shareholders.

INTRODUCTION

SAE has left us in the dark and disguises a major change as something that does not even force them to write an RNS. Besides the fact that they can always write such an RNS, it's a complete joke that they're treating shareholders like that.

As we all know, SAE was relying primarily on public funding, but private investors had, from the past until today, kept investing despite losing now almost over a decade. Minus 95% if you invested from day one.

THE UNKNOWNS

As investors, it's impossible to grasp the implications over what exactly happened. The range goes from an "unfortunate but necessary step" to fraud, bypassing a proper buy out and making the most valuable part of SAE private.

Very little is known about this sell-off but, based on what we know, it's just not comprehensible how the ATES division, which is, arguably, what makes/made SAE to what it is, was sold for pocket change or to an amount that does not even force SAE to send out an RNS. Keeping everyone in the dark.

OUR OPTIONS

I am no expert on what retail investors can and can't do. Besides the fact that the alternative investment market (AIM) is not as tightly regulated than the regular stock market, SAE is registered in Singapore. However, after receiving public money in the tens of millions, politics should have an answer in the case that anything shady has been happening here.

It's unclear what any LR can do for us I think that the cost of a first inquiry would be nothing if the money was collected by us. A first step should be a letter that would be our first warning shot. Any attention from the media (FT and such) would ramp up the pressure.

If SAE is interested in providing value for shareholders, then they will either clarify everything or hurt the company and its public image.

HOW IT COULD BE DONE

At first glance, I don't really know but if something like this happens, then finding a potential lawyer (or law firm) would be the first step.

For this it would probably be a good idea to change the way we communicate. Using a Discord server where people can chat would probably a good start. From there we'd discuss how to find legal representation and also how we would like to fund a first smaller "campaign".

Once a legal representation has been chosen, some broadcast channel would be established for communication (e.g. Email Newsletter) in order to communicate what exactly happens to any crowd funded Pound/Dollar/Euro. I am sure there's a way to make everything transparent s.t. all patrons can s