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dydo

ReneSola (SOL)

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1 hour ago, odyd said:


Please explain more SOL will issue shares to Li for taking 89% of book. He is not buying anything no real money is going to SOL. Anyone buying up shares is mad in my opinion.

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I read it too fast.  Does "the Company would issue additional American depositary shares (each representing 10 shares of the Company, "ADS") to Mr. Li at US$4.50 per ADS." mean that Mr. Li will buy (assume) these additional shares at $4.50?  Does the company, after issue more shares, will have more outstanding shares of which the additional shares are owned by Mr. Li.  This will make its BS look better?  I don't understand the whole scheme here.

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I read he will be given shares at double the price. So for 80M of debt net to eliminate he will get 18m of sol. You have dilution and smaller capability business. This is what I read.

 

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1 hour ago, odyd said:

I read he will be given shares at double the price. So for 80M of debt net to eliminate he will get 18m of sol. You have dilution and smaller capability business. This is what I read.

 

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I don't understand how a company just gives (issues) shares to a certain person in the company without him having to pay for it.  The scheme is too complicated and I, therefore, avoid even looking at it.

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5 hours ago, Jetmoney said:

I don't understand how a company just gives (issues) shares to a certain person in the company without him having to pay for it.  The scheme is too complicated and I, therefore, avoid even looking at it.

I believe, they report tomorrow. Explanation will come out. Essentially this is a paper transaction.  SOL gets no liquidity but real physical assets are given away with added shares covering for the balance. I bet he will sell the capacity for a higher dollar and someone else assuming the debt. The transaction has more of a liquidation character to save the company, where all the dirt is swept off the public eye. I did not think SOL can survive, this seems like they surviving for a little while with a small but perhaps cleaner balance sheet. 

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2 hours ago, dydo said:

Good timing. I think their model was to buy non-Chinese cells for overseas panel fabs in order to supply the high ASP US market. Their high US ASP focused model is almost as screwed as SunPower's is. In SunPower's case it is a bit worse since it is their own cells that will become useless in the model.

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Its been a long 2 years for what I call "round 2" of my SOL investment.  I did fantastic after the crash then stayed out for about a year and decided to jump back in a few years ago (and have been accumulating non-stop.. not very pretty but at this point I am probably considered a major shareholder lol).  I haven't logged in here for a while but I know there were many other SOL lovers here in the past which seems to have faded but for some reason I always liked the way the company did business for the most part in this crazy industry.  They haven't always been correct but were always quick to explain their thoughts and usually first to see industry headwinds and accept it (unlike others who have now fallen to the wayside).  I was skeptical when they started shuttering their manufacturing capacity especially after selling the bad investment in the poly plant at a big loss (if poly hadn't sunk they would have been heros with that move) yet  I kept thinking what will they do next by basically shrinking their company which was very odd (in retrospect I was not mad at that because for every build they lost money so best thing is to slow down).  I always felt however that the company was on to something by consistently pushing for the downstream power play business model.  I actually think they may be the first fully integrated solar company to completely divest of its core manufacturing business and convert to a down stream pure player.  And I am not mad at that.  I have accumulated so many shares at this point and await to finally see a clear balance sheet filing and I am hopeful if they can build out the downstream business without debt the inherit costs/risks of doing so is a lot less then they have had to deal with the past.  My gut is they will surprise a lot of us here in the next few quarters as they expand and we get a better idea with the filings and forecasting.. at least I hope so.. 

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