Monday, July 28, 2014 12:02:43 AM
1. Cash flow from operations in quarter 2 was $898,254, or 12% of revenue. We are probably at a run rate of $4m in annual cash flow at current revenues on the SUNworks side. Subtract any cash outlays from the Solar 3d development side and what is left is free cash flow the company can use for any purpose (acquisition?).
2. Full conversion of the notes look like it would add 177m shares of dilution, bringing us up to 476m shares outstanding. Since none have been issued since 2/11/14, it looks like we are finished with the financing notes, so the only dilution going forward would be an acquisition (which would hopefully be accretive to earnings) and normal grants and options to employees.
3. I am tightening my EOY PPS target to a range $.33-$.45 (original $.30-$.45). This is for the valuation of SUNworks only, so if the cell does look like it is going to market by EOY, I expect a much higher PPS on anticipation. I used $22m in revenue and a 10x revenue valuation averaged with a 50x profit valuation of 2014 estimated profit of $1,852,000 (to get the $.33PPS) and $4,100,000 profit run rate (to get the $.45PPS).
Mooonshine - In your email to the company on the 10-Q corrections, did you nominate me for the "Financial Expert" board position:)
Impish - Here's to 20 followers before 20 posts!
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