Media Update, page-2866

@sentinel22

He also said that in the latest quarterly there was no cash from the Ivory Coast project received, even though that is also false with US $20.1m received in June. Also had a guess at size of IC and said $160m, didn't specify a currency (I think he was thinking AUD). Closer to USD $190m or AUD $261m.

I think he means well, and it's hard putting videos out there for people to pick apart, but geez there is a lot of false info in there. He's overall pretty positive on the company and the water thematic, so overall it's not a terrible thing to have out there, even though most of his figures seem skewed.

Fluence is a difficult company to understand in a complicated industry.

One issue they have had is that since Emefcy/Fluence were listed on the ASX on 2015/16 they have had 3 different CEO's, all with different communication styles and different types of focus. Eytan Levy was in startup mode, trying to raise money and find opportunities to get big partners to launch Emefcy into a unicorn. Lots of announcements, many of which did not end up anywhere, and have led to disappointment from shareholders who believed his grandiose statements and farcical timelines. People still reference some of his statements today, which has led to difficulty in communicating the current strategy. Positive: invented MABR and got it to market in working form.

Henry Charrabe was then following the Ronald Lauder billionaire strategy, of having all bases covered and trying to just grow the company in every category all over the world at the same time. Lots of money burnt, not all their big projects came to fruition. The additional businesses and projects have led to a much larger portfolio, which means a lot of diversified announcements, leading to loss of focus. Positive: Ivory Coast project closed, plus desalination added to portfolio.

Richard Irving is getting things a bit more focused on IC and SPS primarily, and trying to steamline operations a little more. He's the 3rd largest shareholder who has been holding much longer than any of us, so his interests for investment growth are aligned to and outweigh most shareholders here. Positive: SPS growth focus, cost cutting, minimizing shareholder dilution.

We haven't really seen China explode yet. Fluence needs a couple of big partners to really drop some big orders at the same time, actual $20m+ purchase orders for bulk purchases. Or for larger SUBRE plants to become a common order, so that every order is $4m+ at a time. This sort of thing will play out over the next couple years though, so most investors don't feel any immediate urgency of FOMO and get in now. There is momentum growing though, but it is difficult to find that info by simply Googling in English.

Most current holders are probably counting the opportunity cost more than anything, being invested in Fluence has tied up funds that could have been invested better elsewhere. Need a lot of business to come in to reverse a lot of built up distrust and negative sentiment. Even Ivory Coast money has not shifted negativity in the market all that much.