About: 808 Renewable Energy Corp is now changing the name to SilverLight International Group, along with the change of its stock symbol at the moment. The Company is now focusing on three business segments – gyrocopters, reverse-trikes and a new flying car concept in its existing manufacturing facility In Zephyrhills Regional Airport and the newly acquired production headquarters in Gatewood Corporate Center in Lakewood Ranch, Florida.
INTERVIEW TRANSCRIPTS:
WSA: Good day from Wall Street, this is Juan Costello, Senior Analyst with the Wall Street Analyzer, joining us today is David Chen, he’s the President at 808 Renewable Energy Corporation. The company trades over-the-counter ticker symbol RNWR. Thanks for joining us today David.
David Chen: Thank you, thank you Juan. Very nice to be here.
WSA: Yes, really great having you on and can you please start off by providing us with an intro of the company?
David Chen: Yes. We started this acquisition process actually, I think May last year and recently we have completed the transaction and so now we have control of RNWR. Our goal is to change the company name to the Silverline International Group and also the stock symbol as well, then turning this company into an innovation technology company. As you know, we have merging two entities into this company already. One is Gyrocopter company and the other one is reverse-trike company. And the company is moving forward very rapidly. Right now, the name change and the ticker change are being handled right now by our legal team and we are about to acquire a brand new facility here in Gatewood Corporate Center in Florida. And we will be making the reverse-trike, which is the electric creation vehicle, very similar to the Polaris Slingshot and we believe there is a huge market for such product. So we are very, very excited about the outcome and the future of this company.
WSA: Yeah, so bring us up to speed on some of the most recent news as you just announced the new acquisition and you also have that expansion plan regarding your helicopters i.e. gyroscopes?
David Chen: Right. Gyrocopter is actually a hybrid product between a fixed wing aircraft and a helicopter. It does have the look of a helicopter because it does have a main rotor on top but the main rotor is actually a free spinning mechanism that they were provided to lift off the aircraft. The main power comes from the push prop, push propeller located in the back of the aircraft. So actually, you can do vertical takeoff and landing, but most of the time, the aircraft does need to have approximately 100 feet of runway to accelerate, then takeoff. But it is extremely safe because it has the propeller, the push prop located in the back.
So in any event, if any mechanical problems surface, this aircraft will be able to land very safely through a, what we call the outer rotation process. So kind of land very safely like a piece of leaf. So it is a very safe and proven aircraft. There are only two gyrocopter manufacturers in the US. We happen to be one of them and right now we are gearing up our international marketing and we actually received an order from Taiwan last week. So far, we have received more orders and that includes in Q1, an entire year of last year, so we are very, very excited about the revenue that we are going to be having this year.
WSA: Right. And can you talk about some of the key trends right now in the sector, such as these tax credits and how the company is positioned to capitalize?
David Chen: Yes, yes. As the Biden administration is in the office right now, the Federal government is refocusing the emphasize of electric vehicle. The Federal government does provide a tax credit for electric vehicles that carry a 5 kWh of battery capacity. So right now, we are going to be making our reverse-trike which is the two wheels in the front and one wheel in the back layout that we’re going to have 10 kWh of battery capacity so that will qualify us to $7500 federal tax credit and right at the moment, once our new facility, production facility gets built and complete, we will be able to dramatically reduce the production cost of our reverse-trike. Over the past few years, there are similar products on the market, but unfortunately they were way too expensive. They were selling at like $70,000 apiece. We believe we will be able to bring our production cost down significantly and we’ll be able to have a retail sales price of around $25,000. Then, with the federal tax credit we will able to make our vehicle extremely attractive and affordable.
WSA: Certainly, so what are the key goals that you’re hoping to accomplish here over the course of the next six months?
David Chen: Right. I believe over the next six months, we’ll be able to have the new facility in production. We are in the process of moving the jig, the mold and our equipment and production line from Quebec, Canada to Florida. I believe this will be completed probably by the end of May. Then we will be able to start our testing and the prototype, I expect that we will have the first shipment of product available for the market probably around, I would say, August this year and on the gyrocopter side, we have been running at full throttle so there’s no any downtime on the gyrocopter side. So I believe starting September, probably late of Q3, we will be seeing a major, major increase in sales revenue from both divisions, the gyrocopter and the electric reverse-trike.
WSA: Right. So do you think police forces are looking for new and more cost effective ways to do surveillances they kind of had all that defund the police stock?
David Chen: Exactly. Myrtle Beach Police Department has started this trend by implementing gyrocopter to their police force in patrolling and also air command and many other applications. We are rolling out of a Kevlar targeting the international police and defense industry. So we believe we will be the only player on the global market for having thisKevlar of police/military gyrocopters. So we are very excited about that and we do predict that this is going to make out nicely on the marketplace because right now police helicopter costs easily over $2 million and we’re talking about Robinson R22 and R44. So once we roll it out, our product will be far more economical, affordable, and also might be cheaper to run and operate. So we do foresee the market will respond very well to this product.
WSA: Right and perhaps you can talk about your background and experience, David, and who the key management team is? What makes you qualified to be able to deliver on the milestones?
David Chen: Yes, I was awarded as the minorityretailer of the year by the US Department of Commerce back in 2006. I got my first Master’s degree from St. John’s University in New York, and I received my MBA program from Dartmouth’s Tuck School of Business. And over the years, I used to own four car dealerships in New York and about 17 franchise restaurants in New York and I spent eight years in China developing all different types of business from Shell oil to electric vehicles and also investment banking. I am a member of National Investment Banking Association and I have helped several Chinese company go public here in the US and also raising capital, to IPO, and also uplisting to NASDAQ and the American Stock Exchange. So I have been in the financial service business for the past 10 years or so, and I have a very strong background in running business andturning social business to a successful business of the US.
WSA: Great. So once again, we are speaking with David Chen, President and CEO at 808 Renewable Energy Corp which trades over-the-counter, RNWR, trading at 29 cents a share and the 52 week high is 95 cents a share. So before we conclude here, David, to recap some of the key points, why do you believe investors should consider the company as a good investment opportunity today?
David Chen: Yes, very good question. Our company is very well capitalized. Right at the present moment, we have zero liability and zero debt. Also we are just about to complete the acquisition of this new production facility in Florida that will also be 100% cash deal and we have already funded 100% of a brand new flying car concept which will probably roll out over the next 24 months. The market right now is very favorable towards the electric vehicle and affordable gyrocopter. So we believe we are in the right industry at the right time at the present moment. And we are very excited because we keep getting a lobby of powerful people joining our management team, such as Peter Chen who used to work for TWA Airlines and also WebMD and some other public companies in the past and our legal team is very, very strong.
They are very, very familiar with all the SEC, the securities business and right now, we are geared up to complete – I want to start our secondary public offering and our uplist on to NASDAQ. At the present moment, just all from the assets alone, we are already qualified to be uplifted onto NASDAQ. So we are very excited. We are taking our time, we are not rushing anything but right now the company is moving towards that ultimate goal and we are very confident that we will get there in a very short period of time.
WSA: Well, we certainly look forward to continue to track the company’s growth and report on the upcoming progress, and we’d like to thank you for taking the time to join us today there, David, and introduce our investor audience to 808, it was great having you on.
David Chen: Thank you so much, Juan. It’s great to be here.
