RE: Thought Paul had been quiet lately29 Apr 2018 15:51
In Feb 2017, AFC raised �8 m vai a Placing with Yady Worldwide a participant. Yady Worldwide alreday held a siginificant chunk of AFC which it further increased. The placing funds were to deevelop a hydrogen fuel cell facility at good old Peel's Protos Chester site. All raods lead to Chester.
Seems to me by backing Phe, Yady was simply hoping to benefit from the supply of AFC fuel cells to Phe. Some might call it throwing good money after bad, its in both camps but the reality is that in over 15months AFC has failed to establish a fuel cell facilty at Protos and of course has failed to deliver a fuel cell to Phe as previosuly stated.
If Phe really was able to produce hydrogen on teh scale and quality many beleive surely it would be subject to a global buety parade of Fuel Cell manufacturers looking to to capture its business ?
Looks to me like the hydrogen part of this cosy gathering between chums has gone off the rails, hence the sudden change of direction to electricity production via a mega rollout in conjunction with W2T- only problem is W2T has no employees, has no capital, has no track record, has no income and shares the key common directors with Phe. It is effectively the same company as Phe and yet 50% of whole shooting match will find its way into W2T coffers, although that in itself is a pipe dream at the moment.
As for the cazy bus stuff, the Chinese make buses and fuel cells much cheaper and far more quickly. Tresoil another no funds, no capital, no employes, no track record company will do doubt ring round the relevant authorities in Romania and Bulgaria (at least they speak the Lingo) with the begging bowl for grants and a story so bizzare and with so many holes that it will not see the light of day.
As WrightBus comes under increasing pressure, it will of course it will sign anything that might lead to an order, why wouldn't it ? Although its worth noting this East Eurpaen Rollout and MOU with Phe did not even get the slighest of mention on its website.
So we have a CEO who can't even work out how much money the riased in the last Placing projecting that Phe will be a Footse 100 company within the next four years. If he wewre an athlete he would be subject to a drugs test making such statements.
So the more sensible amongst you should be questioning why Phe is only worth �7 m and change, if that.
#titanic