CGE Energy Issues Shareholder Letter UpdatePosted on in News
Dear CGE Energy Shareholders, Partners, Suppliers and Clients:
It is with great pleasure that I provide you with an update on CGE’s business development initiatives and our recent accomplishments. We believe we have reached a juncture where our efforts are being crystallized into decisions and actions which will pave the way for achieving the success each stakeholder is anticipating.
The Company continues to execute on its multi-year business plan to build a $2.6 Billion portfolio of Sustain program energy projects and bring its patented WIND•e20® wind turbine to market. To highlight some of our accomplishments, this year:
An independent valuation report was conducted of CGE Energy, Inc. and its subsidiaries. The valuation opinion and conclusion resulted in a fair market value and total equity value of CGE of $119,200,000 (market cap) and a $1.75 valuation per share. The report valued the Company as of March of 2018.
The report can be read . (https://bit.ly/2DTzfsA)
• To increase CGE’s presence among the investment community, including but not limited to institutional investors; money, fund and portfolio managers, brokerage firms; account executives, financial advisors and retail brokers, analysts, investment bankers and the media, we engaged Barwicki Investor Relations. We have increased our market awareness through a proactive program that included numerous road shows in New York.
We will continue to meet with and have discussions with institutional investors and plan on presenting at investment conferences.
• Throughout 2018 we invested in proprietary software and automation that expedites our internal processes. We believe by having leading technology, we can better support the implementation of projects and the ongoing servicing of our customers. Moreover, this part of the business and operations plays an important role in allowing us to scale nationally.
CGE Energy prides itself on being a customer-centric company. This said, we will continue to evaluate implementing products and services to bring value and enhance our client relationships.
• To support and expand our business and customer base, we hired a number of key people, including individuals at the senior level.
To read the biographies of CGE’s Directors and Officers please visit: http://cgeenergy.com/our-team
• We completed the design phase in development of the 1/10th scale WIND•e20® turbine demonstrator with Roush, which is intended to replicate CGE’s WIND•e20® vertical-axis turbine at a 1/10th scale, simulating the full-scale’s world-changing onsite generation, communication and security features. Roush’s skilled team of engineers have been working on the turbine demonstrator’s major functions including quick installation, blade deployment, and upper mast rotation. The demonstration units provide a visual for customers to experience WIND•e20® prior to opting-in to receive installations of the 105-foot production turbines.
• In November, we announced the engagement of Marcum LLP. The objective is to expeditiously move to complete the certified audit of our fiscal year ending September 30, 2018 and to begin the process of up-listing and becoming a fully reporting company. CGE is in discussions with investment banking firms that can assist us in all facets of finance, corporate planning and overall investment banking services.
• CGE has applied with The Depository Trust Company (the “DTC”) for DWAC/FAST transfer through the Company’s Transfer Agent, Signature Stock Transfer. Upon approval, stock transfer capability would enable CGE shareholders to transfer their shares of CGEI stock electronically after buying or selling, without the extra expense and delay associated with the processing and transfer of physical paper share certificates.
DWAC/FAST is typically approved within 1-2 months. If and when approval is received, we will give shareholders direction on how to electronically transfer shares.
Bryan Zaplitny concluded, “The Company is committed to increase its position in its respective market segments and to fully capitalize on the commercial potential as related to the portfolio of Sustain energy projects. While there’s much more to be done, much has been accomplished and the momentum toward success is building. We’re continuing to deliver sales and increasing our long-term asset base.
In addition to the accomplishments mentioned in this letter, there are many in-process activities going on behind the scenes that we believe will positively impact the bottom line, increase shareholder value, and make additional shareholder-friendly steps in our evolution as a public company. We believe more strongly than ever that our approach and your patience will be rewarded as the results of our efforts unfold in the coming months and years ahead.
On behalf of the Company’s Senior Management team, Board of Directors and employees, I would like to thank you for your continued support at this time of tremendous growth and opportunity for CGE Energy.”
About CGE Energy Inc.
CGE Energy, Inc. makes it easy for businesses, local governments, and non-profits to receive the benefits of sustainable energy projects with no upfront cost. CGE hand-selects the very best facilities to partner with and turns their wasted energy into immediate and continuous savings for the customer. By uniquely selling sustainability-as-a-service, CGE’s proprietary Sustain business model delivers an exclusive combination of today’s best energy efficiency and sustainable energy generation technologies, including CGE’s exclusive WIND•e20® wind turbine.
To learn more visit http://www.cgeenergy.com.
This release may contain “forward-looking statements” that are within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are identified by certain words or phrases such as “may”, “will”, “aim”, “will likely result”, “believe”, “expect”, “will continue”, “anticipate”, “estimate”, “intend”, “plan”, “contemplate”, “seek to”, “future”, “objective”, “goal”, “project”, “should”, “will pursue” and similar expressions or variations of such expressions. These forward-looking statements reflect the Company’s current expectations about its future plans and performance. All forward-looking statements included in this release are based on information available to us on the date hereof and speak only as of the date hereof. We undertake no obligation to update or revise publicly any forward-looking statements. Actual results may differ materially from those projected in the forward-looking statements.
Investor Relations Contact:
Barwicki Investor Relations, Inc.