ATTENDED SHAREHOLDER MEETING TODAY. I rarely post, but I've been a shareholder pre-Nasdaq & pre-reverse split. Since I live just a half hour from Sunworks headquarters I went to the annual shareholders meeting today. I was quite surprised I was the only shareholder present who was not an employee.
I asked about "the cell". A thorough explanation was given as to why it isn't practical or cost-effective at this time to manufacture it. Possibly the patent, being an asset, will eventually be licensed to someone else if it becomes cost-effective in the future for someone to manufacture it.
This quarter is expected to be profitable, or very close to profitable. The following quarter is definitely expected to be profitable. Abe talked to me just prior to the official meeting and talked confidently about returning to profitability very soon.
I got to visit with Chuck, Jim, Abe, & Rhone, plus a few of the employees. There were a few dozen employee shareholders present, but none who work in the field, because they were all out on jobs. Everyone was very friendly. Jim went out of his way to talk to me about 4 different times, and as I was leaving he came up to me and said if I ever have a question, feel free to call, and I could ask for him personally any time.
All of the employees I met had positive things to say regarding what a great company this is, and how everyone works as a team. I met one person who started working there a month ago, and another who began 3 months ago. The company is obviously growing, and is anxious to turn the current backlog into revenue now that the weather is changing. Something I heard from a rather new employee makes me think more geographical expansion beyond California can be expected in the not-to-distant future.
Even though my SUNW holdings have caused poor portfolio performance for me, I came away from this meeting even more enthused that long-term shareholders will eventually be well-rewarded. Not that I have doubted that in the past.