Powerhouse Energy Share Discussion Threads

[whatsthepoint] 27/6/2020 19:18

There is a lock-in period of one year for 87.5% of shares issued so no dumping of shares will happen. You are just bitter and upset you have lost out on your shorts. You have hated this company for many years you are annoyed it is going to be a great success. These are all your own issues you need to grow up and get over it

[vatnabrekk] 27/6/2020 18:35

Just for the sake of clarification, upon completion of the takeover transaction, PHE will own 100% of W2T shares. At that point W2T will still exist as a company, but will be a 100% subsidiary of PHE. I note in the circular document (item 6, page 19) that it states "The Board will also commence steps to wind up W2T’s two wholly owned, dormant subsidiaries (W2T Protos and W2T International) and W2T as an entity as soon as reasonably practical after Completion."

So at that stage the assets and liabilities of W2T will be merged with those of PHE and W2T will cease to exist as a company. I'm pleased that they intend to carry out that final tidy-up job, because it is the cleanest and most sensible way to complete the merger, in my view.

[vatnabrekk] 27/6/2020 18:26

PHE will not have to make an entry in their accounts for Goodwill of £51M. The 1,437M shares that PHE are issuing to buy W2T will be entered in the Accounts at the nominal value of the shares i.e. 0.5p each so a total of £7.2M. Goodwill doesn't come into it.

If PHE had been paying £51M in cash, that would have been a different matter. But they are not.

[whatsthepoint] 27/6/2020 18:23

There are a lot of very disgruntled negative posters who have completely misjudged the company and the prospects. Jaknife and ken Chung are the people who have got this most wrong so why is anyone taking any notice of the rubbish they are spouting. They must have lost a fortune on trying to bet against PHE.

[whatsthepoint] 27/6/2020 18:21

Why does everyone say they are paying 53 million that's the market valuation that the market has set it has nothing to do with what PhE are paying The company is issuing paper to buy W2T the market valued that paper not PhE All shareholders who held shares on the day of announcement of acquasitiin have seen an almost ten fold increase because the market likes the takeover So all this suggestion of paying too much is complete nonsense

[stokey12] 27/6/2020 17:41

Jaknife - You seem to be working on the assumption that at the time of W2T being wound up it will have any outstanding debt. My undrstanding from the circular is that some debt will be cleared pre completion that is before 14 July. My question to the general meeting is to determine what will be the position in relation to the rest. As far as any is owed to PHE under previous agreements it is likely to be cancelled out. I would remind you that it in all probability Peel would exercise their option to enter into an exclusivity agreement that would trigger a £500,000 payment.

This is where your argument falls down had this been your normal takeover where PHE was buying a going concern then your arguments about solvency would have merit. However, this takeover is an enabling transaction that allows for the rapid rollout of DMG units. PHE has a prescreened pipeline of orders covering 35 units which includes the 11 Peel sites this would give annual revenues of £17.5m. So paying out £55m for W2T is justified as PHE would recover this within three years.

[whatsthepoint] 27/6/2020 17:21

If W2T have to pay the debt to PHE and they are taken over by PHE it just cancels out. What's not to understand.

[smokey 1o3] 27/6/2020 17:16

JakNife
In the Acquisition Agreement, the Principal Sellers have agreed to give certain undertakings to assist the Company pre-Completion with settling certain debts owed by W2T.
If you know so much what does this mean?

[whatsthepoint] 27/6/2020 17:13

You still haven't answered my question are you still shorting PHE And why don't you want plastic waste converted to Hydrogen. Sometimes valuations don't reflect accounts. Take Nikola Motors they listed at $30 billion greater value than Ford Motor Company but no revenue no product even built just a very big order sheet. PHE/W2T are not being valued on revenue but on prospects

[stokey12] 27/6/2020 16:28

Jaknife - I think you need to re-read page 36 of the last annual report for PHE again. Assuming that you read it before. PHE has Net Debt Ratio of 0. Also it has a balance sheet surplus. If I recall the balance sheet surplus correctly it is higher than the W2T debt showing in the last accounts for W2T.

I have emailed a question for the general meeting to confirm how much of the debt will be taken on by PHE and how much will be paid off. I am not sure which accounting method you are using to come to the conclusion PHE is technically insolvent. I accept that W2T may be technically insolvent but the takeover is an enabling transaction. Had you actually read the shareholder circular you would notice that the intent is to wind up W2T so te fct that it is insolvent is immaterial.

[vatnabrekk] 27/6/2020 15:39

I'm sure Jack has plenty of money to pay the law suit.

[nobbygnome] 27/6/2020 15:35

I have just looked in here as I do occasionally and want to congratulate the long term holders; I sold out too early albeit with a good profit.

I see jack is still bashing away. I hope he has a good legal team because making the sorts of unsubstantiated claims about a scam with no conditional statement could be very dangerous......and expensive!

[whatsthepoint] 27/6/2020 15:29

Jaknife please explain what debt PHE will have from w2T. Your so clever please explain to everyone what the issue is with this debt you are so worried about ? Do you not think Peel have done lots of due diligence and believe the plant will work as anticipated. Are you still shorting PHE.

[whatsthepoint] 27/6/2020 15:25

PHE does not have to raise the funds to build the first plant as that's Peels responsibility ?

[whatsthepoint] 27/6/2020 15:00

Will you admit defeat when the Protos plant is turning plastic into hydrogen. Will you buy shares then at a much higher price. Will you accept that the business has a real place in the world when it is eliminating waste plastic and making a clean climate neutral fuel.

[whatsthepoint] 27/6/2020 14:58

You really are a sad individual. There will be no debt on PHE balance sheet from W2T. As W2T will not be a company having to pay PHE a share of its profits to cover the shares it was given. PHE will retain all the profits. What don't you understand. Who does PHE have to pay the debt too. If the debt is wiped out on Acquisition.

[demonboy] 27/6/2020 13:49

https://www.carscoops.com/2020/06/jaguar-land-rover-considering-a-hydrogen-fuel-cell-suv/

[zeppo] 27/6/2020 09:55

hxxps://www.greentechmedia.com/articles/read/uk-governments-advisors-urge-it-to-back-hydrogen-economy-in-stimulus-plans