October 15 Meeting Report
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Devin Thorpe
Oct 16, 2024, 9:24:11 PM10/16/24
to Impact Cherub Club
Hi Cherubs,
We had a great meeting yesterday. Here's a recording.
This is just a quick reminder that we voted to invest in Green Compass last month; the offering is now closed.
Today, Yoga and Chris reported on Halcium Energy, and despite liking the company's goals, they couldn't recommend investing. We voted in agreement. I then reported on Solar for Smith's Supermarket, recommending an investment, but the Club voted that down. No investments this month.
You can see our investment decision log here: http://log.impactcherub.com.
We briefly reviewed two candidates for next month. Agua Bonita, which Jackie volunteered to review. We considered GRYT Health, a cancer treatment company, but no one volunteered to review it for the group. If you would like to volunteer, please do.
Education Moment: due to an urgent doctor appointment for Gail, I wasn't able to get my education moment pulled together. Next month, I will review the performance of the club investment portfolio.
Today, I hosted the monthly SuperCrowdHour webinar. You can watch the replay here.
Our next meeting will be held on October 15 at 1:00 Eastern. Invite a friend!!!
Thank you so much!
dt
P.S. Remember, this due diligence scorecard may help you organize your research and this AI tool may help you do it.
P.P.S. Here's the Zoom AI Recap (with uncorrected errors):
Meeting summary for Impact Cherub Club (10/15/2024)
Quick recap
Devin and Chandan discussed a technical issue related to a document and the possibility of recording a Zoom meeting. The group also shared personal updates and discussed the history of the club's investments. Devin presented a deal for solar panels for a grocery store in rural Florida, which was rejected by the majority, and then handed over the discussion to Chris and Yoga to discuss the next project, Calcium Energy.
Next steps
• Jackie to conduct due diligence on Agua Bonita and prepare a report for the next meeting.
• Devin to provide an update on the repayment status of previous investments at the next meeting.
• Chandan to share the recording link of last month's meeting in the chat.
• Chandan to share the link to log.impactcherub.com in the chat.
• All members to consider inviting friends to join the investment group meetings.
• All members to attend the next meeting on November 19th.
Summary
Technical Issue Discussion and Zoom Meeting
Devin and Chandan discussed a technical issue related to a document that Chandan had sent to Devin via email. Chandan had not received a response, which Devin attributed to his own oversight. Devin then made Chandan the host of a Zoom meeting, and they discussed the possibility of recording the session in the cloud. Devin also mentioned being stuck in traffic and having a chaotic morning.
Personal Updates and New Member Introduction
Devin led a discussion where everyone shared updates about their personal lives. Chris shared a relief about a roof leak, Jackie appreciated the fall season, Chandan shared his accomplishment of managing a religious festival, and Aaron introduced himself as a new member. Yoga shared a positive update about their cat's health, and Devin shared that his appointment with the surgeon seemed unnecessary. Marcia joined the meeting late, expressing her regret for missing several meetings and her appreciation for the informative content. Devin acknowledged Marcia's presence and expressed gratitude for her attendance.
Gratitude, Growth, and Investment Decisions
Devin expressed gratitude for the group's participation in the poll to select companies for review. He encouraged the group to grow by inviting friends to the meetings and to invest in businesses. Devin also reminded the group about the history of the club's investments and the upcoming hour, which would be streamed on E 360 TV and Youtube. He also mentioned the previous month's decision to invest in Green Compass and the tie in Africa Eats, which each member was to decide on. Devin also mentioned the devastating effects of Hurricane Helene on Asheville, North Carolina, where Devin, who did the report on Africa Eats, lives.
Solar Panel Deal and Relief Work Discussion
Devin discussed his ongoing investigation into relief work and the potential for some relief. He then presented a deal for solar panels for a grocery store called Smith Supermarket in rural Florida, which is a project financing deal. Devin shared his due diligence report on the opportunity, which had a score of 6.5 out of 10 from an AI tool. He highlighted the risks, including a tax issue with a member of the project's management team and the lack of a guarantee for repayment. The repayment is tied to the REAP grant, and the loan term is 2 years, but Devin expects it to be closer to half of that. Jackie asked about the consequences if the project doesn't get done, but Devin did not provide a direct answer in the transcript.
Project Risks and Solar Energy Discussion
Jackie and Devin discussed the financial risks associated with a project involving Ovanova, a company that has been developing solar installations. Devin clarified that the company is not risk-free, but has a track record of successful projects. Lewis raised concerns about the project's focus on solar energy and the potential for selling excess energy back to the company. Devin confirmed that the project is in rural Florida and that the company's management team has faced tax issues. The team then voted on the project, with the majority rejecting it. Devin then handed over the discussion to Chris and Yoga to discuss the next project, Calcium Energy.
Addressing Company Growth and Financial Concerns
Yoga expressed concerns about a company's lack of growth and revenue, despite raising funds in 2021 and making claims about progress since 2018. The company's financial statements showed a higher general administrative cost than research and development, which was seen as discouraging for a technology-focused business. Devin committed to checking if there were any other companies that had repaid and to be more organized for the next meeting.
Exploring Agua Bonita and Grit Health Opportunities
Devin discussed the potential of a company called Agua Bonita, which creates a popular product called agua fresca. He suggested that Jackie could undertake the due diligence on this opportunity. Chandan then shared a video about Grit Health, a digital health platform that helps patients navigate their diagnosis and improve medicine development and access. Devin expressed interest in health tech opportunities, but no one volunteered to do the diligence on Grit Health. The next meeting was scheduled for November 19th.
AI-generated content may be inaccurate or misleading. Always check for accuracy.
Quick recap
Devin and Chandan discussed a technical issue related to a document and the possibility of recording a Zoom meeting. The group also shared personal updates and discussed the history of the club's investments. Devin presented a deal for solar panels for a grocery store in rural Florida, which was rejected by the majority, and then handed over the discussion to Chris and Yoga to discuss the next project, Calcium Energy.
Next steps
• Jackie to conduct due diligence on Agua Bonita and prepare a report for the next meeting.
• Devin to provide an update on the repayment status of previous investments at the next meeting.
• Chandan to share the recording link of last month's meeting in the chat.
• Chandan to share the link to log.impactcherub.com in the chat.
• All members to consider inviting friends to join the investment group meetings.
• All members to attend the next meeting on November 19th.
Summary
Technical Issue Discussion and Zoom Meeting
Devin and Chandan discussed a technical issue related to a document that Chandan had sent to Devin via email. Chandan had not received a response, which Devin attributed to his own oversight. Devin then made Chandan the host of a Zoom meeting, and they discussed the possibility of recording the session in the cloud. Devin also mentioned being stuck in traffic and having a chaotic morning.
Personal Updates and New Member Introduction
Devin led a discussion where everyone shared updates about their personal lives. Chris shared a relief about a roof leak, Jackie appreciated the fall season, Chandan shared his accomplishment of managing a religious festival, and Aaron introduced himself as a new member. Yoga shared a positive update about their cat's health, and Devin shared that his appointment with the surgeon seemed unnecessary. Marcia joined the meeting late, expressing her regret for missing several meetings and her appreciation for the informative content. Devin acknowledged Marcia's presence and expressed gratitude for her attendance.
Gratitude, Growth, and Investment Decisions
Devin expressed gratitude for the group's participation in the poll to select companies for review. He encouraged the group to grow by inviting friends to the meetings and to invest in businesses. Devin also reminded the group about the history of the club's investments and the upcoming hour, which would be streamed on E 360 TV and Youtube. He also mentioned the previous month's decision to invest in Green Compass and the tie in Africa Eats, which each member was to decide on. Devin also mentioned the devastating effects of Hurricane Helene on Asheville, North Carolina, where Devin, who did the report on Africa Eats, lives.
Solar Panel Deal and Relief Work Discussion
Devin discussed his ongoing investigation into relief work and the potential for some relief. He then presented a deal for solar panels for a grocery store called Smith Supermarket in rural Florida, which is a project financing deal. Devin shared his due diligence report on the opportunity, which had a score of 6.5 out of 10 from an AI tool. He highlighted the risks, including a tax issue with a member of the project's management team and the lack of a guarantee for repayment. The repayment is tied to the REAP grant, and the loan term is 2 years, but Devin expects it to be closer to half of that. Jackie asked about the consequences if the project doesn't get done, but Devin did not provide a direct answer in the transcript.
Project Risks and Solar Energy Discussion
Jackie and Devin discussed the financial risks associated with a project involving Ovanova, a company that has been developing solar installations. Devin clarified that the company is not risk-free, but has a track record of successful projects. Lewis raised concerns about the project's focus on solar energy and the potential for selling excess energy back to the company. Devin confirmed that the project is in rural Florida and that the company's management team has faced tax issues. The team then voted on the project, with the majority rejecting it. Devin then handed over the discussion to Chris and Yoga to discuss the next project, Calcium Energy.
Addressing Company Growth and Financial Concerns
Yoga expressed concerns about a company's lack of growth and revenue, despite raising funds in 2021 and making claims about progress since 2018. The company's financial statements showed a higher general administrative cost than research and development, which was seen as discouraging for a technology-focused business. Devin committed to checking if there were any other companies that had repaid and to be more organized for the next meeting.
Exploring Agua Bonita and Grit Health Opportunities
Devin discussed the potential of a company called Agua Bonita, which creates a popular product called agua fresca. He suggested that Jackie could undertake the due diligence on this opportunity. Chandan then shared a video about Grit Health, a digital health platform that helps patients navigate their diagnosis and improve medicine development and access. Devin expressed interest in health tech opportunities, but no one volunteered to do the diligence on Grit Health. The next meeting was scheduled for November 19th.
AI-generated content may be inaccurate or misleading. Always check for accuracy.
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