I checked the 7% claim by putting the payments schedule into an APR calculator and it checks out. But the payments to investors are backloaded, the £500k share capital (the opportunity being promoted) is obviously being used to repay earlier backers. They are in a hurry to get it commissioned before mid September when the FIT reduces by about two thirds or so.Now I'm presuming the "£400,00" in column one is a misprint for "£400,000" and "£500,00" for "£500,000". And I reckon the bank closing balance at the bottom of column one is supposed to say "£400,000" and not "£500,000" otherwise £100k just disappears. So the typos, as careless as they are, aren't the issue.
I'm trying to work out what the 'scam' is, because it's bound to be a scam. As far as I can see, this hydro thing is basically being 'flipped' onto members of public in the form of untradeable illiquid securities that promise to start paying out profitably in a decades time, once another tier of debt investors have been paid back, and once the FIT and leecy prices have grown at a compounded 2%/2.5%.
Anyone else?
