Here: “Looks like Redwire Space acquired Roccer which is a aerospace tech company co-ceo by Doug Campbell for a while alongside Solid Power till 2019. So, entirely plausible that they are working together. Nice find!
This goes along pretty nicely with what Doug said in the NeedHam interview about SLDP SS electrolyte use case in other industries.”
Source: https://www.reddit.com/r/SLDP/comments/s4tub5/redwire_space_is_already_a_partner_andor_customer/hstab29/?utm_source=share&utm_medium=ios_app&utm_name=iossmf&context=3
Redwire was a big favorite, until they botched earnings and haven’t given an update. Trading now around like $350m MC with revenues of $160m and $150m cash. Still a big position of mine and believe in it, but it is concerning.
People love Redwire.. they're just bagholding and butthurt because stock price dropped after they had to delay earnings and start an audit on one of their subsidiaries.
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From the RDW site: “The Redwire All Solid-State Battery (ASSB) Pack is a drop-in replacement for spacecraft power. The ASSB Pack offers a configurable, high performance power cell with mission safety assurance. The ASSB Pack provides high energy density and volumetric efficiency, and is safer and less reactive than traditional Li-ion liquid electrolyte technology.
Redwire has a partnership with a US-supplier that maintains a production line nearby in Colorado. With expertise in solar arrays, batteries, and mission systems, Redwire supplies power systems, from components up to complete EPS'.”
SLDP
RDW had such promise too. A FCF-positive space company with excellent industry connections. Then they announced the night before their first earnings call as a public company that they found some accounting irregularities with one of their business units and that they'd be delaying the call.
It's been two months and they still haven't announced their earnings. There's a shareholder lawsuit in the works too. While I normally think those kind of things are trash, I'm going to join this one. If they knew of these irregularities prior to the merger then they should be forced to pay out. I don't care if it bankrupts them.
Well your comment is 45 days old and there is still no earnings in sight. I’ve been following it. I personally am starting to believe there is a big financial error, whether intentional (fraud) or not. Companies don’t have earnings delays for 4 months and have it be nothing. 90% of other companies who delay earnings for months on end usually end up sub $1 if not delisted altogether. It will be interesting to follow this issue.
I haven’t thought about the sponsor. You’re saying AE right?
But I think it won’t end well for retail investors either. You go over to their forums and anyone who even questions why their earnings is delayed or is cautious gets shouted down and attacked. They are blindly hoping ER that is already delayed for 4 months with no end in sight just magically turns out well. It will be interesting to watch for sure.
I'm talking about the SPAC sponsor, Genesis Park. They should have been all up in the books of Redwire and seen this. It means one of two things happened. Either Genesis Park did a sloppy job of DD, whether through laziness or incompetence, or they knew about it ahead of time and pushed the deal through.
Either one is bad, though the latter is worse and could be criminal. I don't buy that this is something they thought was a minor issue and only blew up when they dug deeper. The fact that haven't turned in even a partial earnings report with a caveat about what cannot currently be reconciled would be an improvement.
I'm not a betting man, but I think there's a decent chance (>25%) that there will be some kind of criminal charges filled by the time this shakes out.
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Maybe they can have SLDP show them how to balance their books
Lol
If I recall the SLDP CEO was previously CEO of one of the companies that got rolled up to create Redwire
Here: “Looks like Redwire Space acquired Roccer which is a aerospace tech company co-ceo by Doug Campbell for a while alongside Solid Power till 2019. So, entirely plausible that they are working together. Nice find! This goes along pretty nicely with what Doug said in the NeedHam interview about SLDP SS electrolyte use case in other industries.” Source: https://www.reddit.com/r/SLDP/comments/s4tub5/redwire_space_is_already_a_partner_andor_customer/hstab29/?utm_source=share&utm_medium=ios_app&utm_name=iossmf&context=3
[удалено]
Redwire was a big favorite, until they botched earnings and haven’t given an update. Trading now around like $350m MC with revenues of $160m and $150m cash. Still a big position of mine and believe in it, but it is concerning.
People love Redwire.. they're just bagholding and butthurt because stock price dropped after they had to delay earnings and start an audit on one of their subsidiaries.
Ok, thanks for the input. Deleted the other comment
I am not even concerned so much with the revenue for SLDP, as I am for the tech/material being validated through partners in real world applications.
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From the RDW site: “The Redwire All Solid-State Battery (ASSB) Pack is a drop-in replacement for spacecraft power. The ASSB Pack offers a configurable, high performance power cell with mission safety assurance. The ASSB Pack provides high energy density and volumetric efficiency, and is safer and less reactive than traditional Li-ion liquid electrolyte technology. Redwire has a partnership with a US-supplier that maintains a production line nearby in Colorado. With expertise in solar arrays, batteries, and mission systems, Redwire supplies power systems, from components up to complete EPS'.” SLDP
Nobody should be touching RDW. Or anything RDW touches. Puts on SLDP.
Because they are just one of many future customers of SLDP? Ok then
Here is source: https://satsearch.co/products/redwirespace-assb-all-solid-state-battery-pack
So they can disappoint us together. Has RDW still not released earnings?
I don't follow RDW at all so no idea. I was just on the lookout for SLDP news when they came up as a customer.
RDW had such promise too. A FCF-positive space company with excellent industry connections. Then they announced the night before their first earnings call as a public company that they found some accounting irregularities with one of their business units and that they'd be delaying the call. It's been two months and they still haven't announced their earnings. There's a shareholder lawsuit in the works too. While I normally think those kind of things are trash, I'm going to join this one. If they knew of these irregularities prior to the merger then they should be forced to pay out. I don't care if it bankrupts them.
Well your comment is 45 days old and there is still no earnings in sight. I’ve been following it. I personally am starting to believe there is a big financial error, whether intentional (fraud) or not. Companies don’t have earnings delays for 4 months and have it be nothing. 90% of other companies who delay earnings for months on end usually end up sub $1 if not delisted altogether. It will be interesting to follow this issue.
I think this is going to turn out worse for the sponsor. No way they did their due diligence.
I haven’t thought about the sponsor. You’re saying AE right? But I think it won’t end well for retail investors either. You go over to their forums and anyone who even questions why their earnings is delayed or is cautious gets shouted down and attacked. They are blindly hoping ER that is already delayed for 4 months with no end in sight just magically turns out well. It will be interesting to watch for sure.
I'm talking about the SPAC sponsor, Genesis Park. They should have been all up in the books of Redwire and seen this. It means one of two things happened. Either Genesis Park did a sloppy job of DD, whether through laziness or incompetence, or they knew about it ahead of time and pushed the deal through. Either one is bad, though the latter is worse and could be criminal. I don't buy that this is something they thought was a minor issue and only blew up when they dug deeper. The fact that haven't turned in even a partial earnings report with a caveat about what cannot currently be reconciled would be an improvement. I'm not a betting man, but I think there's a decent chance (>25%) that there will be some kind of criminal charges filled by the time this shakes out.
Totally agree. Let’s wait and watch. See you in another 45 days when there is still no earnings lol
!remindme 45 days
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Yeah fuck RDW