It's official: MisterGreenEU, that #CanaryInTheTeslaCoalMine, is dead ⚰️.
🔹bondholders wiped out completely,
🔹senior lenders suffer a big but unspecified haircut.
Remember - MG had a lease fleet of 4'500 #Tesla cars at its peak.
1/3
Update on MisterGreen, that almost-dead #CanaryInTheTeslaCoalMine:
Further anecdotal evidence that the fleet of MG has shrunk significantly, having stopped new #Tesla car leases back in 2024:
Cofounder Mark is looking to sub-let chunks of the MG fleet warehouse.
1/4
Update on MisterGreen (MG), the Dutch #CanaryInTheTeslaCoalMine.
MG continues to let its book of #Tesla new and occasion vehicle leases run off, paying down the senior lending facility.
2024 financial results should come out in the coming weeks.
🧵
1/10
The recent increase in #Tesla shareprice is of no help to
MisterGreen (MG), a Dutch leasing company that has bought about 6'000 #Tesla cars.
This #CanaryInTheTeslaCoalMine is still operating (running off the lease book) but dying a slow death ⚰️.
Mega 🧵 1/13
I can't prove it (yet) but I bet that that steady trickle of #Tesla cars being auctioned off via Troostwijk in Alblasserdam (Netherlands) also originates from MisterGreen, that #CanaryInTheTeslaCoalMine.
Any of my Dutch followers willing to do some gumshoe investigation?
Time for an update on MisterGreen (MG) , that pre-eminent #CanaryInTheTeslaCoalMine .
TL/DR:
🔹#Tesla Robotaxi day came and went but did not save MG.
🔹Restructuring negotiations with "serious" partners have not yielded anything since December 2024.
🧵1/11
Update on that pre-eminent #CanaryInTheTeslaCoalMine: MisterGreen (MG).
TL/DR: MG still operates. Its founders keep up appearances. But its fleet of #Tesla cars keeps shrinking, and a conclusion of the saga seems awfully close.
🧵1/10
The sheer megalomania and delusion of this MisterGreen
co-founder...
"Waisted" €21M of MG bondholder capital.
Has still not published 2023 "final financials.
Don't wait for his "take" on yesterday's NHTSA letter to #Tesla (won't fit in his Robotaxi narrative).
#CanaryInTheTeslaCoalMine
Who is “we” here, Florian?
Insolvent MisterGreen which is stiffing its retail bondholders?
#CanaryInTheTeslaCoalMine
3/6
In reality MG is behind with interest on 7 of the 22 issues already (series 1, 2, 3, 11, 12, 13, and 14).
Series 20 with maturity on 5th of May will see the first default on principal.
#CanaryInTheTeslaCoalMine
Thank you so much!
My non-Dutch followers will certainly appreciate!
#CanaryInTheTeslaCoalMine
🚨Mainstream Dutch press confirms problems at #MisterGreen, the 4'000+ #Tesla car lease company.
Deplores fate of the retail bondholders.
Dutch language only unfortunately.
Audio segments hit hard!
#CanaryInTheTeslaCoalMine
www.bnr.nl/nieuws/onder...
COGS for a leased car, in the case of #MisterGreen, is mainly
🔹depreciation
🔹cost of financing
Leasing at a loss is "less bad" than selling on the used car market, where you have to book a perhaps bigger loss (as you sell way below the overestimated book value).
#CanaryInTheTeslaCoalMine
Calling it now:
🚨#MisterGreen co-founder Mark Schreurs is preparing for life after MisterGreen 🚨
Feels like a #MisterGreen bankruptcy is very imminent now.
#Tesla
#CanaryInTheTeslaCoalMine
🧵1/7
I recommend a coffee in the #MisterGreen occasion lease delivery center in Weesp.
Florian or Mark will serve it to you in person, and let you test drive one of the hundreds of end-of-lease #Tesla cars in store!
#CanaryInTheTeslaCoalMine
This means that the #CanaryInTheTeslaCoalMine is now good and well dead.
The senior lenders are simply eating off its carcass.
I ask to observe a minute of silence for the thousands of retail #MisterGreen bondholders, who have been wiped out.
6/8
MisterGreen is cutting costs. It eliminated the MisterGreen .eu internet domain, as well as the .pt and .es sites where it was trying to sell end-of-lease #Tesla cars.
It kept the .de and .be domains, where you can still read grotesque hype about the #Tesla Model 2.
#CanaryInTheTeslaCoalMine
This morning MisterGreen had a server outage but is now back to listing 234 #Tesla cars available for occasion lease.
That is over 5% of the fleet incurring costs rather than income.
#CanaryInTheTeslaCoalMine
2/2
I was right (unfortunately for the
MisterGreen bondholders):
🚨Mistergreen is defaulting on ALL 22 oustanding subordinated bonds, not only Series 11.
#CanaryInTheTeslaCoalMine
1/3
Things are going further downhill for MisterGreen.
They now sit on 360 end-of-first-lease #Tesla vehicles that can't be sold in the used car market without booking a loss.
No takers for an occasion lease at these prices either.
2023 financials still missing.
#CanaryInTheTeslaCoalMine
My interpretation: Florian did not find new capital for his insolvent leasing company owning > 4'000 #Tesla cars.
So he moves his greenwashing grift closer to his cult leader fElon SkuM.
And far away from his angry Dutch bondholders.
#CanaryInTheTeslaCoalMine
MisterGreen going belly up...
Looks like MisterGreen,
that #CanaryInTheTeslaCoalMine sitting on thousands of #Tesla cars,
has not found fresh capital yet.
Maybe a random visitor will have €20M in his pocket to lift the company out of deep insolvency AND bail out the retail bondholders, victims of greenwashing.
MisterGreen Holding BV financials for 2023 are now available on kvk (Dutch chamber of commerce),
in a "preliminary" unaudited version.
On basis of going concern, despite breach of senior lending covenants.
Plenty other obscenities.
#CanaryInTheTeslaCoalMine
Will be back with more soon.
How is MisterGreen's #Tesla Occasion lease program doing?
One indicator: count how many Model 3 cars are offered at only €399/month.
1 : business as usual (399€ is clickbait only)
3 : need to work it harder
9 (today): we are desparate!
#CanaryInTheTeslaCoalMine
What is the annual cost for an additional domain name in Europe? 50 €?
That seems still too much for MisterGreen, the #CanaryInTheTeslaCoalMine.
Financials for 2023 are still not available, at least not for the public, and not even for its bondholders.
1/3
Florian solicited Xitter public to invest in MisterGreen bonds.
Interest payments were halted end of 2024, and 2023 financial accounts are missing.
Florian keeps tweeting about robotaxis and FSD, but no longer tweets about MisterGreen.
#CanaryInTheTeslaCoalMine
#Greenwashing
CEO and founder of insolvent #Tesla lease company MisterGreen announces his next grift on Twitter.
“Build” means: solicit other people’s money to buy stuff from fElon SkuM.
If Florian hopes to get closer to fElon he should consider Mar-a-Lago rather than Austin Texas.
#CanaryInTheTeslaCoalMine
Denial about the Tesla brand destruction worked in 2024 because its share price went up.
I firmly believe that 2025 is the year when reality will bite the #Tesla fanboys in the ass.
Starting with #CanaryInTheTeslaCoalMine MisterGreen.
The #CanaryInTheTeslaCoalMine is one step closer to death 🪦.
Newspaper confirms that MisterGreen stopped interest payments on its subordinated debt 😢.
That has not stopped Florian from grandstanding about his #TESLA “robotaxi fleet” on Xitter though.
1/2
Dutch press "Financieele Dagblad" fd. nl article confirms:
🚨Mistergreen #CanaryInTheTeslaCoalMine is agonising ! 🚨
🔹Bondholders got an email 😔
🔹Financials for 2023 to be published only in January 2025.
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