RE:Is EGT still a going concern? It is encouraging to be able to share with shareholders/EGT Bullboard followers that Justin Holland did directly respond to the email I sent earlier today after reading "Toady's" last post.
He addressed my concerns and added additional material to the degree disclosure regulations permit.
Specifically, he noted:
1.)
Per news release dated December 8, 2023 (pasted below for easy review) we confirmed to the market that we had furloughed North American personnel based on US market conditions.
2.)
He confirmed the North American team will be back in the office late January.
3.)
European and Australian teams, where market recovery began ahead of North America, are completely intact as Finanzdesk and Simply Energy rollouts begin in each respective market.
4.)
There are staff in Calgary supporting both of the foregoing teams.
Due to weather conditions many have worked from their homes in recent days.
5.)
A formal update will be provided in the coming days and will include narrative on DPC (a Duracell licencee) with whom EGT continues to work through accounts receivable complexities.
With respect to "Toady's" comments regarding Duracell, Justin Holland fully agrees that they are a responsible company.
Therefore he stressed , the outstanding receivable is related to the licensee DPC, not Duracell.
6.)
The update will address finance and operations in each key market.
7.)
They believe theirs is one of only a few technologies that fully integrate hardware and software platforms to deliver virtual power plant (VPP) capabilities to utilities.
7.a.)
This is where energy storage is transitioning and opening recuring revenue streams through EGT's steadily expanding partnerships.
I respect that Justin Holland acknowledged my communication as quickly as he has and anticipate shareholders will be relieved when the pending update provides further detail and clarity.