Was this rehearsed ?https://www.petersoncapital.ca/eguana-cap-update/blog-post-title-one-hzxt4
In order to understand that receivables number we should question the why of it.
To my way of looking at it when it happened that Justin had to get a magic number on the last quarter of 2022 the one with the additional 3 months to get to a December 2022 closing.
It showed over $10,000,000 as I recall.
Justin had the company build out a stack units by OMEGA billed these out to Duracell Power Center to make the magic number of over $10,000,000 !
WHY was this number so important at this time ?
The VPP market crashed thereafter leaving a stack of unsold units in DPC books unsold.
There had to have been an agreement between Justin and DPC to do this.
The inventory would lesson wait times for installers as well as show build capacity by OMEGA.
The SOLAR VPP market in rising interest rates said differently.
DPC had/has no defined interest nor obligation to pay for these units until they find a home as sold units.
They should have aranged to have these available in that theft of parts it would have simplified matters as these were already assembled. (sorry I could not help myself as I am seriously pissed )
What input does Itochu have in all these proceedings is my question ???????
Are they still backing their $40,0000,000 bet ?
I think they are. It is the only logical reason I have any interest in these matters.