9/13/13 Webinar Notes:
Introduction of RENU Management Team :
Don Wood CEO
Jeff Nemes COO
Alex Kim CLO
Walt Kritsky President
Growth/Business Development
TEI- CNG/LFG
Energy Solutions of Florida- Solar/Green Energy
Discussion of the cancellation of Total acquistion (incomplete quarterlies, 3rd party advisor stating not GAAP compliant, significant losses, demanded accelerated note payment, mutual decision).
St. Cloud Update:
Per discussion with Fire Marshal, permit to be issued by end of September (FM on vacation). Construction to begin w/in 10 days. Target completion date: 12/31/13
Engineering Firm: Kearney and Assoc.
Lawsuit vs HSA: Breach of contract. HSA counter suing for $47k vs RENU and St. Cloud.
Corporate Reorganization:
Nemes: COO- day to day operations
Kritsky: President- qualifies RENU as General/Solar contractor- patents in AC
Looking to add Advisory Committee, Interviewing for BOD, Looking for a CFO who is also CPA.
Mr. Nemes gave a very detailed description of what ES of Florida is, and is not. ES of Florida is a "brand", and with Walt's qualifications, can do all 3 levels of ASHRAE energy audits. (Level III being investment grade audits- only Kritsky qualified to do).
Energy Solutions:
Funding Opportunities- 3rd party funding, NOT shareholder or company funds
Residential funding- Approved by Chase for credit card payments, Green Sky Credit- $40k unsecured loan/customer, all 50 states, "on the spot" credit, doesn't burden RENU with debt
Brochures/Flyers on the way
Immediate Focus: Solar, battery backup
Acquisitions:
Working on creating a "Dealer Strategy". NOT franchising. Working with small to mid size dealers, getting a working relationship/knowledge first, possibility of acquiring LATER, only IF creates value and profitability .
Q&A's
Most of the questions asked were covered in the webinar, however, for each question, the response was repeated and some info added where needed.
Dr. PTAC was introduced: Based on Kritsky's patent. Working with Islandaire for possible connection. (Package air conditioning with hotels)
Working towards audited financials EOY- Issues still exist with previous CEO and his "Dark Ages" period. Definitely looking for CFO. Looking for uplist to OTCQB, hopefully next year.
Introduced Lynn Nemes VP Sales/Business Development, and Brandon Wood VP Marketing/Development. Mr. Nemes gave a very good description of holding all management to Performance Based compensation, and that we aren't just hiring "family" to give them a paycheck. (Do a little DD on Lynn....... nothing to worry about there. Just reading her accomplishments makes me tired.....)
Discussed the difference in models between Total's and RENU's Energy Solutions: what works for Total, does not necessarily work for RENU, different strategy
Both Mr. Wood and Mr. Nemes gave detailed outlines of the St. Cloud construction and time periods. Both are very confident in being able to meet the deadline of Nov 14, and to complete this project by year's end.
Mr. Wood stated that the pumping station of the gas was Phase II, and St. Cloud had not inked an agreement yet to purchase. Mr. Nemes presented the signed agreement with Al-Gahry, indicating their requirement to pay $1.5M per year, regardless of if they take/use the gas or not.
Mr. Wood defended his record with Child Watch, giving a very detailed description of the "whole story" with the income /expense for the questioned period, and showed his heart for the charities that he is involved in and with the people there. (Kudos, sir!)
This is my interpretation/synopsis of what I took notes on. Please feel free to correct any errors or fill in any data that I missed.
Best.
Introduction of RENU Management Team :
Don Wood CEO
Jeff Nemes COO
Alex Kim CLO
Walt Kritsky President
Growth/Business Development
TEI- CNG/LFG
Energy Solutions of Florida- Solar/Green Energy
Discussion of the cancellation of Total acquistion (incomplete quarterlies, 3rd party advisor stating not GAAP compliant, significant losses, demanded accelerated note payment, mutual decision).
St. Cloud Update:
Per discussion with Fire Marshal, permit to be issued by end of September (FM on vacation). Construction to begin w/in 10 days. Target completion date: 12/31/13
Engineering Firm: Kearney and Assoc.
Lawsuit vs HSA: Breach of contract. HSA counter suing for $47k vs RENU and St. Cloud.
Corporate Reorganization:
Nemes: COO- day to day operations
Kritsky: President- qualifies RENU as General/Solar contractor- patents in AC
Looking to add Advisory Committee, Interviewing for BOD, Looking for a CFO who is also CPA.
Mr. Nemes gave a very detailed description of what ES of Florida is, and is not. ES of Florida is a "brand", and with Walt's qualifications, can do all 3 levels of ASHRAE energy audits. (Level III being investment grade audits- only Kritsky qualified to do).
Energy Solutions:
Funding Opportunities- 3rd party funding, NOT shareholder or company funds
Residential funding- Approved by Chase for credit card payments, Green Sky Credit- $40k unsecured loan/customer, all 50 states, "on the spot" credit, doesn't burden RENU with debt
Brochures/Flyers on the way
Immediate Focus: Solar, battery backup
Acquisitions:
Working on creating a "Dealer Strategy". NOT franchising. Working with small to mid size dealers, getting a working relationship/knowledge first, possibility of acquiring LATER, only IF creates value and profitability .
Q&A's
Most of the questions asked were covered in the webinar, however, for each question, the response was repeated and some info added where needed.
Dr. PTAC was introduced: Based on Kritsky's patent. Working with Islandaire for possible connection. (Package air conditioning with hotels)
Working towards audited financials EOY- Issues still exist with previous CEO and his "Dark Ages" period. Definitely looking for CFO. Looking for uplist to OTCQB, hopefully next year.
Introduced Lynn Nemes VP Sales/Business Development, and Brandon Wood VP Marketing/Development. Mr. Nemes gave a very good description of holding all management to Performance Based compensation, and that we aren't just hiring "family" to give them a paycheck. (Do a little DD on Lynn....... nothing to worry about there. Just reading her accomplishments makes me tired.....)
Discussed the difference in models between Total's and RENU's Energy Solutions: what works for Total, does not necessarily work for RENU, different strategy
Both Mr. Wood and Mr. Nemes gave detailed outlines of the St. Cloud construction and time periods. Both are very confident in being able to meet the deadline of Nov 14, and to complete this project by year's end.
Mr. Wood stated that the pumping station of the gas was Phase II, and St. Cloud had not inked an agreement yet to purchase. Mr. Nemes presented the signed agreement with Al-Gahry, indicating their requirement to pay $1.5M per year, regardless of if they take/use the gas or not.
Mr. Wood defended his record with Child Watch, giving a very detailed description of the "whole story" with the income /expense for the questioned period, and showed his heart for the charities that he is involved in and with the people there. (Kudos, sir!)
This is my interpretation/synopsis of what I took notes on. Please feel free to correct any errors or fill in any data that I missed.
Best.
