Sleazy ex Tory MP Tim Yeo has another spoof announcement at Powerhouse Energy (PHE) but we are in the late stages of a bull market so, while Yeo is clearly taking the (Greek & Hungarian ) piss, moronic mug punters have lapped it up.
I have commented on Powerhouse Energy (PHE) on a number of occasions, as has Tom Winnifrith. Each time we comment it’s to note yet further red flags of concern. I think it’s worth a recap of some and also to note a further matter that has come to my attention which I think merits consideration. After all some people get all the luck.
Yesterday it was Skinbiotherapeutics (SBTX) which allowed Optibiotix (OPTI) to dump shares less than six months after announcing a firm lock in agreement lasting 12 months. Today it is Powerhouse Energy (PHE) showing that these announcements are utterly meaningless and investors cannot rely on them at all.
Having looked at the share transactions of Powerhouse Energy (PHE) investor Ben White, the son of Howard White who was a Director of Waste2Tricity, alongside sleazy Tim Yeo at the weekend and concluding Ben White may have been the luckiest investor on the AIM market, I was drawn to look at a few further transactions. In doing so I can only conclude that AFC Energy (AFC) must be the unluckiest corporate investor on AIM.
I was very disappointed and rather surprised to read Fridays RNS that advised Dave Ryan (a fellow Chartered Engineer) was stepping down from the CEO role at Powerhouse Energy (PHE) but was intrigued by the focus on engineering project work, while ditching the corporate side to sleazy Tim Yeo, as Tom Winnifrith commented on earlier. When I come across something like this is makes me wonder if the signs were there and I missed them so I read some back history. What I found I do not like at all, in fact in my book it stinks.
Over the weekend, I revealed the second reason why the RNS issued by cash-guzzling AIM Casino promote Powerhouse Energy (PHE) was grossly misleading. I have now written to the Oxymorons at AIM Regulation urging them to force Powerhouse and its shoddy Nomad WH Ireland to issue a full clarification and to face formal censure.
On Thursday I exposed how AIM promote Powerhouse Energy (PHE) had done a deal supposedly worth 100,000 Euro upfront with a company which was in fact just six weeks old and had only £100 to its name. But this con is far far worse as I can reveal today.
Tom Winnifrith has written two articles recently about PowerHouse Energy (PHE), firstly noting how Zak Mir is promoting the stock and secondly how there are a bucket (shop) load of 0.5p warrants outstanding; separately Peter Brailey has noted the absurdity of the valuation as being "quadruple bonkers". But today I want to ask a more basic question: does its so called "technology" even work?
At every step the last few days have seen Powerhouse Energy (PHE) show everything that is wrong with life among the dregs of the AIM Casino. Today a new chapter but as a reminder....
I noted that in terms of the Eurasia Mining (EUA) scandal, my old friend, the Sith Lord Zak Mir played his part in the promote only becuase he was obeying orders. Now I see that he is pushing shares in almost insolvent Powerhouse Energy (PHE) ahead of its merger with almost insolvent Wastte2tricity. Peter Brailey exposed the ludicrous nature of Zak's ramping HERE yesterday.
I reviewed Powerhouse Energy (PHE) just after Christmas and concluded the £15 million market Cap was bonkers. The share price has motored on regardless and now the company sits with a £58 million valuation, and that’s before the dilution from the Waste2Tricty deal. Is this a clear sign of PI driven investment madness?
Powerhouse Energy (PHE) provided an interesting update on 23rd December which would see the company merge with Waste2Trricty Ltd and address one reason I called this a Sell back in August. Nice as this news was to the investment case, thie shares remain a sell.
The UK government has committed to a carbon neutral policy by 2050. Achieving this aim will require a massive shift from hydrocarbon fuel sources for electrical power generation, building heating and vehicle fuel sources to alternatives. We are also increasingly hearing about plastics and the need for a good disposal route. Powerhouse Energy (PHE) appears to provide one potential means of investing in these trends. Unfortunately it does not tick my investment boxes at all!
Powerhouse Energy (PHE) is a company which I have previously been very negative on, and rightly so given its performance over the past few years. The company specialises in waste-to-energy production, either in the form of generating electricity or producing hydrogen for fuel cells, but in the past its gasification technology has failed to really take off in the way that investors had hoped.