100% agree with
@Whynot50That report was filled with so many inconsistencies and hypocrisy. These guys have no idea, and I will demonstrate on multiple fronts why
For a start, the capital raising in 2017 stated this:-
However, now when pressed about international expansion, they have a much different tune:-
But hold on ... in just one release prior, SP3 were getting excited over this:-
So let me get this right, SP3 has no interest in selling their solar/thermal technology internationally, yet they are committing time and funds to the deal with The Ripper Group to potentially get some Shark Warning Systems rolled out in the USA ... this is utter stupidity
Thermal cameras sell for $13K, any deal internationally would be for a minimum 4-8 cameras to make it worth it, representing revenue of $50-100K+ each time. Compared to a Shark Warning System which is generally 1 per beach, and rents for $20/day.
Even when discussing cannabis, it shows they have no clue what they are talking about. There is essentially no Australian cannabis market to pursue, yet they want to "capture any opportunities as they arise".
SP3 wrote a white paper on medical cannabis themselves last year, they had the intelligence then to realise the
"ideal locations for growing marijuana correlate directly with high solar zones of solar power supply".
There are enormous outdoor field grown cannabis operations all over USA, Canada, South America, Europe that are not grown in greenhouses or laboratory conditions, by law they require 24/7 monitored surveillance, extremely high value sites that get between 12-16 hours sun a day.
Minimum requirements to protect even the smallest Tier II Recreational grower in Oregon for example with a couple of acres would require 8 cameras, being a $100K+ deal
Why when SP3 has 60% gross profit margins, these cameras can be shipped anywhere in the world for <$10K per container with delivery time frame of <28 days, aren't SP3 pursuing the 1,000+ licensed cannabis producers in USA, Canada, South America, Europe.We are happy to liaise with governments and the Ripper Group to get 1 or 2 shark warning systems rolled out at a time at $20/day, but not with major cannabis producers worldwide who would at minimum be needing 4-8 thermals at $50-100K value ... this is some really dumb stuff, all because they don't have "in country staff".
I have sent SP3 multiple emails via their website advising that I have contacts in both the mining and cannabis industry that would be interested in purchasing their thermal range, anywhere from 4-8 cameras per contact. I have been ignored now for 12+ weeks.
Funnily enough, I asked a contact of mine in the PNG mining industry to contact Peter Holton on FB, inquiring whether he could buy some cameras, Peter immediately wrote back.
Peter Holton is happy to take unsolicited approaches from people via FB, but won't respond to a Top 10 Shareholder who has already introduced them to one of the largest Canadian LP's, Colombia's largest medical cannabis producer, the founder of Tweed and his new recreational venture and 1 or 2 major operating mines ...
Punters here need to wake up. Management won't even review major leads in the cannabis or mining space, deals worth more than anything they've announced to date, yet we are committing time and funds to stuff like the Shark Warning System rolling out in the USA and some WA beaches.
(20min delay)