Whether you are long or short T1 Energy (TE), we think everyone can agree that US taxpayer money should NOT be going to China at all. Today we reveal internal documents from T1 Energy which prove that T1 has been funneling US Solar Tax Credits to a Chinese Co, Trina Solar. T1 has been caught red-handed, and a whistleblower provided us the receipts to prove it. T1 has been busted sending tens of millions of US Tax payer dollars to a company that the US Dept of War has recently labeled a “Chinese Military Company" See for yourself how many tens of millions of US tax payers hard earned dollars that T1 has funneled to their Chinese business partner quarterly. T1's internal financials even reveal that they are planning to keep paying out US Tax Credits to China in FY 2026 if they receive the payouts. We also uncovered that T1 Energy’s has been misleading investors about where they are licensing their IP from. They claim to be paying for IP from a new Singaporean IP partner, Evervolt. BUT internal documents show no sign at all of Evervolt. However, the books and records do show T1 Energy still accruing IP payments to Chinese partner, Trina Solar. These payments completely invalidate the FEOC lies that T1’s management has been spinning. We are short T1 Energy and think that funneling US tax dollars to China is unpatriotic and appalling.

You caught us red-handed! We corresponded with the SEC multiple times in July regarding 2 company's under active SEC investigation for fraud But your conclusion is dead wrong... FOIA'ing for our email correspondence alone would cause a B7A exemption for the whole group due to those active SEC investigations Note - If you are an activist short-seller & are not frequently communicating with the SEC then you aren't doing your job right

We just read the work by Umibozu Research and it's pretty, pretty, pretty, pretty good It is definitely worth following the SeaMonk if you don't already

We used to love that investors would get our reports, be able read it & make a decision long before the stock had even moved... But we have never asked our followers how they actually prefer receiving our research?

Leopold's June 13f is out - shares owned of $TE was -51%...before Kenny G took him out on a stretcher

New $FRMI CEO = one of the FRMI directors leading the CEO search 🤣 Did no one else want the job?!

$TE financials will get punished by today's 232 solar tariff's...the stock market doesn't know it yet! Below is the math of how TE's solar cell costs are set to actually skyrocket by 50% Fact: T1 imports solar cells from Trina Solar (the receipts prove it!) New Fact: TE will have to pay a 15% tariff on customs value + a top up to minimum imported prices of $0.22/watt since they import solar cells The Math: T1's actual invoices reveal that TE pays Trina Solar an avg of $1.51 per solar cell aka $0.162/watt - New 15% tariff =$0.162 * 15% = $0.024/w - New floor price for solar cell imports = $0.220/w - COGS for solar cells go up to $0.244/w The Financial Damage: - TE's solar cell input cogs are +50%! - Total BOM costs are +38% - Q1-2026 TE only reported gross margins of +16%. Gross margins go from +16% to -11%! ---GM's of NEGATIVE 11%! Whoops there goes all of TE's margin down a tariff drain-hole. T1's shaky financials will be even more devastated! It also kills any ability for T1 to earn free cash flow which would fund building G2 (the solar cell plant) It Gets Worse: - Trina Solar was labeled a Chinese Military Co by US's Dept of War - so TE actually doesn't qualify for US 45x tax credits of $0.07 (see our reports) - Excluding the non-cash Tax Credits (which you should because TE booked them without qualifying for them) then TE's GM's would have been -34% ---GM's of NEGATIVE 34%! Hemlock Poly: But doesn't TE buy polysilicon from Hemlock in the USA? Read the announcement - TE is still punished because when TE send Hemlock's US Polysilicon abroad to make solar cells. It gets sent to Trina solar who makes it into solar cells and then re-imports it back into the USA. 232 is clear that all solar cells from abroad are tariffed. Why Bulls Are Wrong: - Bulls are excited right now since TE is trying to build a solar cell factory (G2) in the US. TE claims the factory will be up and running next year. It's already been delayed, they don't even have the cash required to build it, and TE's financial future just got way worse. - Mgmt told investors they weren't buying solar cells from Trina Solar. T1's own invoices exposed they were lying. So anyone that believes mgmt's claims when G2 will be up and running deserves the FEOC'ing that is coming to their portfolio. Yesterday - TE's financials were FEOC'ed Today - 232 just pounded TE's financials even harder Disclosure - Short $TE

Well I guess it’s official all the rumors seem to all be true Situational Awareness appears to be getting liquidated & margin called by it’s Primes @leopoldasch - if this is fake news now is the time to speak up ft.com/content/280336bf-dbed…

$FRMI CCO employment contract is actually just an amendment to a May 1st contract that was never disclosed Reminder - Companies don't raise >$400m of dilutive capital at junk terms right before announcing a tenant Fermi raised because there is no tenant

Toby is not wrong $FRMI board adopting a 70% supermajority voting requirement to make changes to the Board in a secret meeting is F--k'ed up Current board wins=shareholders are F--ed Toby wins=Shareholders get back a CEO that likes to party & get F--ed up Grab your 🍿 & a 🍺

We've heard that Toby normally starts day-drinking at ~10am So does today's PR attempt at $FRMI stock manipulation mean: a) Toby started his day early? b) Still up from last night's bender The early bird catches the worm (at the bottom of the tequila bottle)

Washington Free Beacon out with a killer article on how Trina Solar controls T1 Energy. Seems like people in Washington are well aware $TE is FEOC'ed: freebeacon.com/energy/texas-…

Read more about $TE's China Hustle, what the whistleblower revealed to us, and see the receipts for yourself We are short $TE fuzzypandaresearch.com/t1-en…