EXPLANATION REGARDING THE CELL
First, thanks to all of you who have expressed your appreciation for my comments about the shareholder meeting. I appreciate all of the comments I have read over the years from you long-term shareholders also.
I wish I had recorded the meeting or at least taken notes, but I didn't, so I'll do my best to recap the explanation given by Jim Nelson.
The manufacturing of solar cells by Sunworks would be something more complex than is practical for the company to do. I think he said they "discovered" the manufacturing business would be too complex.
They feel very comfortable with the segment of the industry they are specializing in, sales & installation, and providing a great customer experience that they can back with a 25 year guarantee.
Also he discussed they've learned it would be too costly to manufacture these unique solar panels since the cost of other solar panels continues to drop. The cost difference for the more efficient panels would prevent them from being cost effective, and especially if their panels are not manufactured in a quantity that is large enough to keep the cost reasonable.
If the cost effectiveness for their more efficient panel becomes practical in the future for a manufacturing company to produce them in the quantity needed, they would like to license it to them.
By the way, after the meeting in one of my discussions I was told SUNW is gaining market share, and at least one other competitor is in bankruptcy, which apparently is partially a result of the wet winter season.
Don't quote me on any exact phrases, but during the presentation, the financial condition of SUNW is something they feel very good with.
I didn't see any thing at the headquarters that made me feel they are spending wastefully, or being extravagant. They appear to be financially conservative, yet efficient with the office and warehouse areas.
Several months ago on a typical weekday I made a visit to the same building to see their showroom, and had the same impression.
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