WSA: Good day from Wall Street, this is Juan Costello, Senior Analyst with the Wall Street Analyzer. Joining us today is David Chen, President and CEO at 808 Renewable Energy Corporation. The company trades over-the-counter ticker symbol RNWR. Thanks for joining us today there, David.
David Chen: Thank you Juan, thank you so much for having me here. It is always a pleasure.
WSA: Yeah, certainly sir. Our last interview was about three months ago. So to some of our listeners that might have not caught our previous interview, can you start off with providing us with an intro of the company?
David Chen: Yes. Right now we just completed our audit – financial audit, and we are about to submit our Form 10 through SEC. So we will be removing the shell status on the company any day now. And also there are a lot of exciting news both the gyrocopter and the electric vehicle divisions. So we are very excited. The name of the company will change from 808 Renewable Energy to SilverLight International Group very soon. So I believe the ticker will also be changed. So this is a very exciting and brand new company that is going to be generating a lot of the exciting and great news from this point on.
The gyrocopter side, we have already 100% fully funded the development cost to develop a brand new gyrocopter, which is side by side in configuration, instead of the front and back tandem layout that we currently have right now. There is a very strong demand on the market for a side-by-side gyrocopter. As you know, the industry leader in the gyrocopter industry is a company called AutoGyro in Germany. Last year they have filed bankruptcy. So right now we are in a very good position to take more market share of the gyrocopter on the global market.
And since we are one of the only two gyrocopter manufacturers in the US, so right now we are really sitting in an excellent situation right at the moment. And with the new model soon to come out, hopefully within the next year or so and I believe this company will really start doing some serious business. And on the electric vehicle side, we have already trademark Orca as the new trade name for our entry level electric reverse trike. It has a very, very affordable pricing. The MSRP is going to be $9900, so it’s less than $10,000. And we are ready to hit the market next quarter – in Q4 this year. So we just did a news release with Newsfile last week and we have received excellent response from all over the place.
And our research and development center in Vancouver, Canada right now is working on our second model, which is a converter model, very similar to the Polaris Slingshot. And today as we speak, the 3D scanning is being conducted right now. Once the 3D scanning is completed, then we will be able to start working on the mode, and we should be able to have that hit the market probably in Q1 next year. So we are very, very excited with the speed of the growth that this company is currently generating right now. So a lot of very exciting things happening right now.
WSA: Yeah, certainly. I’m reading your last two announcements, which we posted on our site here, one from July 8th, 808 Renewable Energy announces global supply chain cooperation; also of June 25thcompany receipt of your NHTSA number. Can you talk about some of the most recent announcements there?
David Chen: Yes. We have received our NHTSA number and also the WMI number. So right now we are qualified and ready to issue VIN number that’s vehicle identification number to all our reverse trike electric vehicles right now. So now we are officially an electric vehicle manufacturer, and right now we are working on another addition of low-speed electric vehicle, in addition to the electric reverse trike that we have. So we’re going to have multiple models and multiple lines of products ready for the market very, very soon.
WSA: You mentioned some of the shorter-term goals here; what are the key goals you’re looking at here by the end of the year?
David Chen: Yes. I think by the end of this year, our new facility, which we have acquired, will be ready for the final assembly in production. Right now we are waiting for the county to give us the approval, the buildout – that’s the electrical, the water, the plumbing, the fire suppression system, the whole nine yards. So hopefully in about 30 days we’ll be able to officially start the buildup process and will probably take about four to six weeks to complete the buildout and then we’ll be able to start our production at this brand new facility here in Bradenton, Florida. At the present moment, we are utilizing the production facility of our affiliated entity in Quebec, Canada and also in Asia. So we will not have a problem to have our first model hit the market, Q4 this year, which is next quarter. So we’re very, very excited. We are being extremely creative to get the production going and have the product ready for market.
WSA: Yeah. So talk about some of the benefits there of the product. Obviously if you look at police helicopter, it’s about $2 million where your R22 and R44 products come in at a much lower price point.
David Chen: Yes. Right now Myrtle Beach Police in Carolina has already started using gyrocopter for the patrol mission. And also there are other municipalities and local authorities been contacting us and making a lot of inquiries. We have received order from Taiwan and also other countries in the world that are expressing interests because our starting price of our American Ranger One, AR-1 is starting only at $120,000 and that’s extremely affordable. And it is a much safer aircraft to fly and operate than a traditional conventional helicopter. So because our main rotor on top of the aircraft provides the lift but the actual power comes from the push-prop behind the aircraft.
So in any event, let’s say, god forbid, there’s any kind of mechanical issue, this aircraft will be able to land very nicely through this, it’s called auto rotation. So it’s a much, much safer aircraft to operate, and you cannot beat the price. So we are very, very optimistic about the future growth of our gyrocopter division, especially with the new side by side model coming up very soon. So I believe this company will experience some major boost in sales and also revenue and profit in the very near future.
WSA: Right. And obviously with everything that’s going on with the funding, the police, and that sort of movement, the budget might be a little bit lower. So there might be looking for your solution to work with are also the tax credits through the Biden administration, so I guess you could say all the trends are in your favor right now.
David Chen: Correct. Especially right now, the US government is spending a lot of money on the improvement of the infrastructure. So the gyrocopter will serve very well in a lot, the bridge inspection, pipeline inspection, powerline inspection, and even agriculture application, fish and wildlife patrol. So the application of our gyrocopter is just limitless.
WSA: Well, good, yeah. It sounds like you have the wind at your back. So let’s talk about the stock price, obviously $0.20 with a 52-week high of about $0.95, it’s got a lot of room to grow. And obviously I’ve never spoke with the CEO that says their stock is not undervalued, but what do you wish investors better understood about the company which would perhaps result in a higher valuation?
David Chen: Yes. We have noticed there are doubts of people shorting our stock probably from one of the hedge funds. But we believe this is very temporary scenario at the present moment. I believe as the company keeps growing and expanding and moving forward and achieving all the milestones that we have set up, our stock price will start moving up very quickly in a very short term period of time.
WSA: Good. So you’re a New York guy and worked in the finance industry and you kind of went back and forth as well. So I know you discussed — last time you discussed your background. So is there any other important management members there that perhaps we didn’t go over last time?
David Chen: Yes. We have recently hired a good team of MBA graduates – people with Master’s Degrees in Marketing to help us to grow the company on the sales and marketing side. Right now we are getting ready to set up our e-commerce division of the company. So probably within the next week or two we will be fully set up with all the major e-commerce platforms such as Wal-Mart, eBay, Amazon, S.C., BigCommerce and etc. So we are very, very excited to see that our price is so affordable. And we are branching out to every available avenue to make sure that the people will be able to see our products and people will be able to purchase our products.
And we are in the process of setting up three display locations here in the Florida area, such as the UTC mall in Sarasota, the Premium Outlet Centers in Arlington and Tampa. And we will keep growing and get our foot set in the Florida market first, then expand to all the [indiscernible] [00:14:12] space and the entire North America. So we are taking our baby steps right now. But believe me, the speed that we are moving right now, you will see us becoming a major player in the marketplace very, very soon.
WSA: Yeah, I saw a picture of that Lakewood Ranch facility. It actually looks really nice, a nice location.
David Chen: Yes. It’s a brand-new state-of-the-art building. A lot of the main big companies at the headquarters over there, and we are going to have our showroom, our R&D Center and our final production facility all set up over there. So I would say hopefully within the next two months or so, we’ll be able to have an official grand opening of this facility with business center in Lakewood Ranch, Bradenton.
WSA: Yes, sounds good. So once again, we are speaking with David Chen. He is the President and CEO over at 808 Renewable Energy Corporation, which trades over-the-counter RNWR. So before we conclude here, why do you believe investors should consider the company as a good investment opportunity today?
David Chen: Okay. Our competitors are NASDAQ company called Arcimoto, stock symbol FUV. And also our product is very similar to Polaris Slingshot, and look at their stock price and look at ours, I think it doesn’t really take a rocket scientist to figure out our stock price is such a bargain right now. And people should be able to see a major improvement within the very short period of time. So it is over exciting.
WSA: Yeah. Well, we certainly look forward to continuing to track the company’s growth and report on the upcoming progress. And we like to thank you for taking the time to join us today there David, and get an update here to our investor audience. It’s always good to have you on.
David Chen: Thank you so much for having me, always been a pleasure.