Yes, they have put money in, $1.635 million USD so far. It's a significant sum. Maybe chump change for a large organisation, but if they felt they were throwing good money after bad then a good decision maker would have pulled the pin and considered it a sunk cost and moved on. This is a ray of light for us.
Having said that, my concern is that this has taken way too long. $1 billion (approx.) is needed to build one of these towers. These guys haven't been able to raise $2 million over five years. This development rights fee was first announced in December 2012. Now just over five years later we have seen a total $1.635 million from Apollo. That is a rate of $327,000 per annum. To raise $1 billion at this rate would take over 3,000 years. Maybe this is a bit flippant from me, but we need to look at things in perspective. Something needs to change very quickly, is what I am saying.
My other concern is that the people from Stream Energy maybe good at energy retail, but it doesn't mean they know anything about energy generation.
I used to talk to RD a lot. Not a peep from him these days. Draw your own conclusion. Very very busy, or very very reluctant to talk until there is some good news to talk about? Or both? I can understand that. But what it means, in my opinion, is ongoing very bad news for shareholders.
Yes, they have put money in, $1.635 million USD so far. It's a...
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