Short TE – Hidden Chinese Ties Will FeoCK T1 Energy; Accounting Restatements Coming Soon

TE (short): Evervolt IP 'transfer' from Trina Solar is sham; Evervolt owner Tan Chin Piaw has 15+ yr Trina ties + direct CETC (Chinese SOE) connection. IP deal occurred 5mo after July 4 IRS deadline = FEOC non-compliant = no tax credits. Without 45X credits ($0.11/watt), op margins flip from +6% to -31%. Q1 booked $41.4M unearned credits = restatement coming. 99.9% Q1 rev from Trina; 37% Q4 rev was bill-and-hold red flag. G2 factory 12-18mo behind per drone footage, also FEOC'd on Trina IP. Import records show suspicious containers (pallets/tape/glass) matching solar cell weights. DOJ/SEC subpoenas issued; TX Lt Gov called for investigation. Patent DBs show zero Evervolt ownership; Trina retains global rights. Tax credit buyers/insurers won't underwrite FEOC risk. ITC patent infringement probe vs TE/Trina. Material costs 81% from prohibited foreign entities. Estimate massive losses without credits; financing needs $220M for G2. Bulls pricing in tax credits that will never materialize.

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