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FuzzyPanda
FuzzyPanda@FuzzyPandaShort·
$EOSE's 10-Q reveals huge revenue & customer issues that CEO Joe clearly doesn't want investors to know 51% of Revenue ($28.9m) came from the UK Which customer is in the UK? Frontier Power UK (connected to Cerberus, Eos's PE owner) But digging deeper gets dirty: - Import-Export Databases reveal 0 shipments by Eos or any of it's subs to the UK...so 51% of Q1-26 Rev is from batteries that were NOT actually shipped to the UK - Meanwhile - Eos's 10-Q shows an unexplained 180% spike in Unbilled Receivables (aka contract assets). The spike almost perfectly matches the amount of revenue booked from Frontier Power UK It looks like $EOSE both did NOT ship batteries to Frontier Power + did NOT bill for them! This is a bombshell on top of the fact that Eos's new major customer was revealed this morning to be "Frontier Power USA," an entity that was only registered last week and which was created by Cerberus & Eos During the hottest AI boom and demand for batteries ever $FLNC reported backlog increasing +100% YoY Meanwhile, $EOSE's backlog is -5% YoY & their only hope now seems to be selling batteries to themselves GFLTA
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Compounding Lab
Compounding Lab@CompoundingLab·
You need to do a proper research before posting this shit. Frontier Power USA is a new venture and the big bet. This was the main event of the call, and it's worth understanding properly. The core problem Eos has been trying to solve isn't technology, it's what management calls "bankability." Every energy storage project requires capital, insurance, construction, and an offtake agreement, and historically each of those has been assembled one at a time, deal by deal. That's slow and expensive. This is a joint venture where eose will supply batteries, frontier and Cerberus take care of the rest. And by the way, UK is final destination, and it's a normal worldwide practice to use intercompany shell cos. Frontier Power USA is an attempt to pre-package all of that into one platform. Cerberus is putting in $100 million, and Eos is planning to contribute $150 million through a rights offering to existing shareholders. On top of that sits a technology performance insurance wrap from Ariel Green at Lloyd's of London, which is the structural innovation here. By converting technology risk into an insured obligation, it opens the door to senior project debt targeted at over $1 billion with investment-grade characteristics. The idea is that customers get faster project timelines, lower cost of capital, and a single integrated solution rather than months of sequential negotiations. Do your research.
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