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Short Interest 01/31/20 14,597 +4.92%
BillSettle Dte Short Int. % Chg. AvgDlyVol Day2Cvr
01/31/2020 311,533 4.92 98,964 3.15
01/15/2020 296,936 13.56 184,436 1.61
12/31/2019 261,472 (22.21) 95,688 2.73
11/29/2019 330,118 53.35 390,016 1.00
11/15/2019 215,266 (30.75) 156,051 1.38
10/31/2019 310,843 44.87 465,829 1.00 (R/S 10:1 adjusted)
10/15/2019 2,145,643 11.52 226,052 9.49
09/30/2019 1,924,042 (13.62) 412,787 4.66
08/30/2019 2,326,709 (15.94) 304,492 7.64
08/15/2019 2,767,907 (1.95) 285,209 9.70
07/31/2019 2,822,898 13.43 176,031 16.04
07/15/2019 2,488,650 (11.97) 189,740 13.12
06/28/2019 2,827,049 0.90 228,950 12.35
06/14/2019 2,801,832 1.19 273,418 10.25
05/31/2019 2,768,861 2.06 177,063 15.64
05/15/2019 2,712,974 (9.18) 267,673 10.14
04/30/2019 2,987,292 (2.46) 308,484 9.68
04/15/2019 3,062,529 0.57 268,320 11.41
03/29/2019 3,045,124 (1.86) 367,612 8.2
03/15/2019 3,102,928 1.77 272,860 11.37
02/28/2019 3,048,852 1.47 351,804 8.67
02/15/2019 3,004,666 7.52 440,619 6.82
01/31/2019 2,794,425 38.50 589,580 4.74
01/15/2019 2,017,629 (0.57) 496,686 4.06
12/31/2018 2,029,279 1.28 624,867 3.25
12/14/2018 2,003,546 0.02 399,219 5.02
11/30/2018 2,003,082 (1.19) 426,796 4.69
11/15/2018 2,027,151 (3.19) 427,410 4.74
10/31/2018 2,093,988 7.28 340,901 6.14
10/15/2018 1,951,825 2.38 410,955 4.75
09/28/2018 1,906,532 (19.52) 594,639 3.21
09/14/2018 2,368,859 5.01 663,224 3.57
08/31/2018 2,255,759 (14.92) 594,113 3.80
08/15/2018 2,651,419 58.98 808,396 3.28
07/31/2018 1,667,754 14.72 611,050 2.73
07/13/2018 1,453,743 (5.86) 257,307 5.65
06/29/2018 1,544,293 18.22 464,978 3.32
06/15/2018 1,306,306 43.14 1,182,536 1.10
05/31/2018 912,579 (7.43) 958,993 1.00
05/15/2018 985,873 (44.31) 599,467 1.64
04/30/2018 1,770,270 (56.19) 1,160,924 1.52
04/13/2018 4,040,438 (3.67) 1,888,203 2.14
03/29/2018 4,194,391 4.11 1,207,110 3.47
03/15/2018 4,028,856 (3.77) 915,839 4.40
02/28/2018 4,186,856 (0.77) 685,519 6.11
02/15/2018 4,219,310 (5.57)1,345,664 3.14
Short Interest 01/15/20 35,464 +13.56%
BillSettle Dte Short Int. % Chg. AvgDlyVol Day2Cvr
01/15/2020 296,936 13.56 184,436 1.61
12/31/2019 261,472 (22.21) 95,688 2.73
11/29/2019 330,118 53.35 390,016 1.00
11/15/2019 215,266 (30.75) 156,051 1.38
10/31/2019 310,843 44.87 465,829 1.00 (R/S 10:1 adjusted)
10/15/2019 2,145,643 11.52 226,052 9.49
09/30/2019 1,924,042 (13.62) 412,787 4.66
08/30/2019 2,326,709 (15.94) 304,492 7.64
08/15/2019 2,767,907 (1.95) 285,209 9.70
07/31/2019 2,822,898 13.43 176,031 16.04
07/15/2019 2,488,650 (11.97) 189,740 13.12
06/28/2019 2,827,049 0.90 228,950 12.35
06/14/2019 2,801,832 1.19 273,418 10.25
05/31/2019 2,768,861 2.06 177,063 15.64
05/15/2019 2,712,974 (9.18) 267,673 10.14
04/30/2019 2,987,292 (2.46) 308,484 9.68
04/15/2019 3,062,529 0.57 268,320 11.41
03/29/2019 3,045,124 (1.86) 367,612 8.2
03/15/2019 3,102,928 1.77 272,860 11.37
02/28/2019 3,048,852 1.47 351,804 8.67
02/15/2019 3,004,666 7.52 440,619 6.82
01/31/2019 2,794,425 38.50 589,580 4.74
01/15/2019 2,017,629 (0.57) 496,686 4.06
12/31/2018 2,029,279 1.28 624,867 3.25
12/14/2018 2,003,546 0.02 399,219 5.02
11/30/2018 2,003,082 (1.19) 426,796 4.69
11/15/2018 2,027,151 (3.19) 427,410 4.74
10/31/2018 2,093,988 7.28 340,901 6.14
10/15/2018 1,951,825 2.38 410,955 4.75
09/28/2018 1,906,532 (19.52) 594,639 3.21
09/14/2018 2,368,859 5.01 663,224 3.57
08/31/2018 2,255,759 (14.92) 594,113 3.80
08/15/2018 2,651,419 58.98 808,396 3.28
07/31/2018 1,667,754 14.72 611,050 2.73
07/13/2018 1,453,743 (5.86) 257,307 5.65
06/29/2018 1,544,293 18.22 464,978 3.32
06/15/2018 1,306,306 43.14 1,182,536 1.10
05/31/2018 912,579 (7.43) 958,993 1.00
05/15/2018 985,873 (44.31) 599,467 1.64
04/30/2018 1,770,270 (56.19) 1,160,924 1.52
04/13/2018 4,040,438 (3.67) 1,888,203 2.14
03/29/2018 4,194,391 4.11 1,207,110 3.47
03/15/2018 4,028,856 (3.77) 915,839 4.40
02/28/2018 4,186,856 (0.77) 685,519 6.11
02/15/2018 4,219,310 (5.57)1,345,664 3.14
01/31/2018 4,468,282 5.51 546,555 8.18
01/12/2018 4,234,855 (0.11)1,033,389 4.10
Pretty much just a fancy pink sheet.
Been going on for years
Pretty good racket isnt it chklingon...
LOL, same ole junk here. Do a R/S, sell shares, then when it inevitably falls back below a dollar, R/S yet again. In the mean time, announce millions in sales and yet no profit.
Short Interest 12/31/20 -74,660 (22.21%)
BillSettle Dte Short Int. % Chg. AvgDlyVol Day2Cvr
12/31/2019 261,472 (22.21) 95,688 2.73
11/29/2019 330,118 53.35 390,016 1.00
11/15/2019 215,266 (30.75) 156,051 1.38
10/31/2019 310,843 44.87 465,829 1.00 (R/S 10:1 adjusted)
10/15/2019 2,145,643 11.52 226,052 9.49
09/30/2019 1,924,042 (13.62) 412,787 4.66
08/30/2019 2,326,709 (15.94) 304,492 7.64
08/15/2019 2,767,907 (1.95) 285,209 9.70
07/31/2019 2,822,898 13.43 176,031 16.04
07/15/2019 2,488,650 (11.97) 189,740 13.12
06/28/2019 2,827,049 0.90 228,950 12.35
06/14/2019 2,801,832 1.19 273,418 10.25
05/31/2019 2,768,861 2.06 177,063 15.64
05/15/2019 2,712,974 (9.18) 267,673 10.14
04/30/2019 2,987,292 (2.46) 308,484 9.68
04/15/2019 3,062,529 0.57 268,320 11.41
03/29/2019 3,045,124 (1.86) 367,612 8.2
03/15/2019 3,102,928 1.77 272,860 11.37
02/28/2019 3,048,852 1.47 351,804 8.67
02/15/2019 3,004,666 7.52 440,619 6.82
01/31/2019 2,794,425 38.50 589,580 4.74
01/15/2019 2,017,629 (0.57) 496,686 4.06
12/31/2018 2,029,279 1.28 624,867 3.25
12/14/2018 2,003,546 0.02 399,219 5.02
11/30/2018 2,003,082 (1.19) 426,796 4.69
11/15/2018 2,027,151 (3.19) 427,410 4.74
10/31/2018 2,093,988 7.28 340,901 6.14
10/15/2018 1,951,825 2.38 410,955 4.75
09/28/2018 1,906,532 (19.52) 594,639 3.21
09/14/2018 2,368,859 5.01 663,224 3.57
08/31/2018 2,255,759 (14.92) 594,113 3.80
08/15/2018 2,651,419 58.98 808,396 3.28
07/31/2018 1,667,754 14.72 611,050 2.73
07/13/2018 1,453,743 (5.86) 257,307 5.65
06/29/2018 1,544,293 18.22 464,978 3.32
06/15/2018 1,306,306 43.14 1,182,536 1.10
05/31/2018 912,579 (7.43) 958,993 1.00
05/15/2018 985,873 (44.31) 599,467 1.64
04/30/2018 1,770,270 (56.19) 1,160,924 1.52
04/13/2018 4,040,438 (3.67) 1,888,203 2.14
03/29/2018 4,194,391 4.11 1,207,110 3.47
03/15/2018 4,028,856 (3.77) 915,839 4.40
02/28/2018 4,186,856 (0.77) 685,519 6.11
02/15/2018 4,219,310 (5.57)1,345,664 3.14
01/31/2018 4,468,282 5.51 546,555 8.18
01/12/2018 4,234,855 (0.11)1,033,389 4.10
Short Interest 11/29/19 114,852 +53.35%
BillSettle Dte Short Int. % Chg. AvgDlyVol Day2Cvr
11/29/2019 330,118 53.35 390,016 1.00
11/15/2019 215,266 (30.75) 156,051 1.38
10/31/2019 310,843 44.87 465,829 1.00 (R/S 10:1 adjusted)
10/15/2019 2,145,643 11.52 226,052 9.49
09/30/2019 1,924,042 (13.62) 412,787 4.66
08/30/2019 2,326,709 (15.94) 304,492 7.64
08/15/2019 2,767,907 (1.95) 285,209 9.70
07/31/2019 2,822,898 13.43 176,031 16.04
07/15/2019 2,488,650 (11.97) 189,740 13.12
06/28/2019 2,827,049 0.90 228,950 12.35
06/14/2019 2,801,832 1.19 273,418 10.25
05/31/2019 2,768,861 2.06 177,063 15.64
05/15/2019 2,712,974 (9.18) 267,673 10.14
04/30/2019 2,987,292 (2.46) 308,484 9.68
04/15/2019 3,062,529 0.57 268,320 11.41
03/29/2019 3,045,124 (1.86) 367,612 8.2
03/15/2019 3,102,928 1.77 272,860 11.37
02/28/2019 3,048,852 1.47 351,804 8.67
02/15/2019 3,004,666 7.52 440,619 6.82
01/31/2019 2,794,425 38.50 589,580 4.74
01/15/2019 2,017,629 (0.57) 496,686 4.06
12/31/2018 2,029,279 1.28 624,867 3.25
12/14/2018 2,003,546 0.02 399,219 5.02
11/30/2018 2,003,082 (1.19) 426,796 4.69
11/15/2018 2,027,151 (3.19) 427,410 4.74
10/31/2018 2,093,988 7.28 340,901 6.14
10/15/2018 1,951,825 2.38 410,955 4.75
09/28/2018 1,906,532 (19.52) 594,639 3.21
09/14/2018 2,368,859 5.01 663,224 3.57
08/31/2018 2,255,759 (14.92) 594,113 3.80
08/15/2018 2,651,419 58.98 808,396 3.28
07/31/2018 1,667,754 14.72 611,050 2.73
07/13/2018 1,453,743 (5.86) 257,307 5.65
06/29/2018 1,544,293 18.22 464,978 3.32
06/15/2018 1,306,306 43.14 1,182,536 1.10
05/31/2018 912,579 (7.43) 958,993 1.00
05/15/2018 985,873 (44.31) 599,467 1.64
04/30/2018 1,770,270 (56.19) 1,160,924 1.52
04/13/2018 4,040,438 (3.67) 1,888,203 2.14
03/29/2018 4,194,391 4.11 1,207,110 3.47
03/15/2018 4,028,856 (3.77) 915,839 4.40
02/28/2018 4,186,856 (0.77) 685,519 6.11
02/15/2018 4,219,310 (5.57)1,345,664 3.14
01/31/2018 4,468,282 5.51 546,555 8.18
01/12/2018 4,234,855 (0.11)1,033,389 4.10
12/29/2017 4,239,564 (1.62) 862,450 4.92
Evidently.
Sht int (30%+) in per. end day before run up begins.
GS squid at play. Warrants to exercise and then shares to sell.
Bad aspect is that now the former shorters have more capital to deploy in manipulation and more portfolio room to short again.
I really do wonder how it will all play out as the fundamentals make painfully slow progress at best. I can't imagine the squid is in for the long haul.
MHUO,
Bill
Short Interest 11/15/19 -95,577 (30.75%)
BillSettle Dte Short Int. % Chg. AvgDlyVol Day2Cvr
11/15/2019 215,266 (30.75) 156,051 1.38
10/31/2019 310,843 44.87 465,829 1.00 (R/S 10:1 adjusted)
10/15/2019 2,145,643 11.52 226,052 9.49
09/30/2019 1,924,042 (13.62) 412,787 4.66
08/30/2019 2,326,709 (15.94) 304,492 7.64
08/15/2019 2,767,907 (1.95) 285,209 9.70
07/31/2019 2,822,898 13.43 176,031 16.04
07/15/2019 2,488,650 (11.97) 189,740 13.12
06/28/2019 2,827,049 0.90 228,950 12.35
06/14/2019 2,801,832 1.19 273,418 10.25
05/31/2019 2,768,861 2.06 177,063 15.64
05/15/2019 2,712,974 (9.18) 267,673 10.14
04/30/2019 2,987,292 (2.46) 308,484 9.68
04/15/2019 3,062,529 0.57 268,320 11.41
03/29/2019 3,045,124 (1.86) 367,612 8.2
03/15/2019 3,102,928 1.77 272,860 11.37
02/28/2019 3,048,852 1.47 351,804 8.67
02/15/2019 3,004,666 7.52 440,619 6.82
01/31/2019 2,794,425 38.50 589,580 4.74
01/15/2019 2,017,629 (0.57) 496,686 4.06
12/31/2018 2,029,279 1.28 624,867 3.25
12/14/2018 2,003,546 0.02 399,219 5.02
11/30/2018 2,003,082 (1.19) 426,796 4.69
11/15/2018 2,027,151 (3.19) 427,410 4.74
10/31/2018 2,093,988 7.28 340,901 6.14
10/15/2018 1,951,825 2.38 410,955 4.75
09/28/2018 1,906,532 (19.52) 594,639 3.21
09/14/2018 2,368,859 5.01 663,224 3.57
08/31/2018 2,255,759 (14.92) 594,113 3.80
08/15/2018 2,651,419 58.98 808,396 3.28
07/31/2018 1,667,754 14.72 611,050 2.73
07/13/2018 1,453,743 (5.86) 257,307 5.65
06/29/2018 1,544,293 18.22 464,978 3.32
06/15/2018 1,306,306 43.14 1,182,536 1.10
05/31/2018 912,579 (7.43) 958,993 1.00
05/15/2018 985,873 (44.31) 599,467 1.64
04/30/2018 1,770,270 (56.19) 1,160,924 1.52
04/13/2018 4,040,438 (3.67) 1,888,203 2.14
03/29/2018 4,194,391 4.11 1,207,110 3.47
03/15/2018 4,028,856 (3.77) 915,839 4.40
02/28/2018 4,186,856 (0.77) 685,519 6.11
02/15/2018 4,219,310 (5.57)1,345,664 3.14
01/31/2018 4,468,282 5.51 546,555 8.18
01/12/2018 4,234,855 (0.11)1,033,389 4.10
12/29/2017 4,239,564 (1.62) 862,450 4.92
12/15/2017 4,309,458 (4.49) 490,082 8.79
Would have made a nice flip. Got distracted this morning. Another day.
GLTA
Ahhh, the 'ole split. Shs Outstand 8.44M Shs Float 8.23M
If it gets the volatility it may be worth a go for a swing. Haven't visited this one in quite some time. Need to do my dd again.
New board member, and I see they like their compensation. So would I!!
* * $CPST Video Chart 11-18-19 * *
Link to Video - click here to watch the technical chart video
Short Report 10/31/19 -1,834,800 (85.51%)
BillSettle Dte Short Int. % Chg. AvgDlyVol Day2Cvr
10/31/2019 310,843 44.87 465,829 1.00 (R/S 10:1 adjusted)
10/15/2019 2,145,643 11.52 226,052 9.49
09/30/2019 1,924,042 (13.62) 412,787 4.66
08/30/2019 2,326,709 (15.94) 304,492 7.64
08/15/2019 2,767,907 (1.95) 285,209 9.70
07/31/2019 2,822,898 13.43 176,031 16.04
07/15/2019 2,488,650 (11.97) 189,740 13.12
06/28/2019 2,827,049 0.90 228,950 12.35
06/14/2019 2,801,832 1.19 273,418 10.25
05/31/2019 2,768,861 2.06 177,063 15.64
05/15/2019 2,712,974 (9.18) 267,673 10.14
04/30/2019 2,987,292 (2.46) 308,484 9.68
04/15/2019 3,062,529 0.57 268,320 11.41
03/29/2019 3,045,124 (1.86) 367,612 8.2
03/15/2019 3,102,928 1.77 272,860 11.37
02/28/2019 3,048,852 1.47 351,804 8.67
02/15/2019 3,004,666 7.52 440,619 6.82
01/31/2019 2,794,425 38.50 589,580 4.74
01/15/2019 2,017,629 (0.57) 496,686 4.06
12/31/2018 2,029,279 1.28 624,867 3.25
12/14/2018 2,003,546 0.02 399,219 5.02
11/30/2018 2,003,082 (1.19) 426,796 4.69
11/15/2018 2,027,151 (3.19) 427,410 4.74
10/31/2018 2,093,988 7.28 340,901 6.14
10/15/2018 1,951,825 2.38 410,955 4.75
09/28/2018 1,906,532 (19.52) 594,639 3.21
09/14/2018 2,368,859 5.01 663,224 3.57
08/31/2018 2,255,759 (14.92) 594,113 3.80
08/15/2018 2,651,419 58.98 808,396 3.28
07/31/2018 1,667,754 14.72 611,050 2.73
07/13/2018 1,453,743 (5.86) 257,307 5.65
06/29/2018 1,544,293 18.22 464,978 3.32
06/15/2018 1,306,306 43.14 1,182,536 1.10
05/31/2018 912,579 (7.43) 958,993 1.00
05/15/2018 985,873 (44.31) 599,467 1.64
04/30/2018 1,770,270 (56.19) 1,160,924 1.52
04/13/2018 4,040,438 (3.67) 1,888,203 2.14
03/29/2018 4,194,391 4.11 1,207,110 3.47
03/15/2018 4,028,856 (3.77) 915,839 4.40
02/28/2018 4,186,856 (0.77) 685,519 6.11
02/15/2018 4,219,310 (5.57)1,345,664 3.14
01/31/2018 4,468,282 5.51 546,555 8.18
01/12/2018 4,234,855 (0.11)1,033,389 4.10
12/29/2017 4,239,564 (1.62) 862,450 4.92
12/15/2017 4,309,458 (4.49) 490,082 8.79
11/30/2017 4,512,137 (5.85) 260,623 17.31
POLL: who here filed claim in the class action lawsuit?
The final settlement each shareholder receives will be based largely on how many people responded with claims by the October 15 deadline. Any predictions as to what the share price paid for each of the claim periods will be?
Understand mareen....I am with you on the hold..Sure dont need any writeoffs...
Well, they have gone thru thick and thin before. And survived. And they are selling generators. And repeat customers are welcomed and no longer a rare event. So, I will hold. Maybe add some one day. .
Hit it all on the head thegoldenstrand...pathetic management...very pathetic....TIMBER!!!!!
Hey hopester.....cut Exec salaries...lol....Jamison and his groupies will wait to the very end for that....Hope he never gets picked at another company after Capstone....of course he probably has taken so much money from this company he will just retire! What a joke
When we invest, people are the most important part of the investment. When has Capstone Management ever shown to be putting the interest of shareholders ahead of their own in the past seven years? Not once? It appears the real owner is the Lender. The stock is worthless at any price unless or until Management shows they value it, by owning it themselves and likely this will NEVER happen. I have seen around a dozen companies like this that get in debt and eventually go under. Capstone might be worth a gamble for a short term trade near here, but it is risky as we just don't know when the company will throw in their hat and let the Lender take over. Always this promise. just around the corner.. but beware the book to bill ratio dropped back to 1:1 this past quarter which means quarterly booking dropped by about 40 percent or more from the previous two quarters.. I am estimating here.. but that is Bad news.
When a company trades like this it's in deep financial trouble.
Note all the cost cuts past and ongoing do not help. Not a whisper of cutting Execs salaries or bonuses. I think they're having trouble raising financing, bridge loans or anything related to continuing operations.
They seemed to have pulled out all the stops ( except there own) and the best they can do is hope for an EBITA break even "soon".
What a piece of mis-managed junk they've become.
http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=cpst&insttype=&freq=&show=
You are correct mareen....IF Capstone can hang on long enough.
Hmm. Maintenance contracts have high margins. So may help get that penny.
Uhhh.... any anyone would believe them because?
Sales is not the problem mareen...they have had alot of sales over the last few years.....cant even make .01 cent in earnings since god knows when if ever....
Significant sale today. French electric power co. Initial order.
Actually the Chinese just today announced piracy of overseas intellectual property is illegal and made know through various forms of international publications
Yes this is at least 3 or 4 RS they have done that I know about
It is only time before the Chinese rip off this stuff and sell it for half the price. You can't compete with them by manufacturing in California.
Naw, they will just keep right on doing the same old thing and eventually R/S yet again. They have this down pat.
* * $CPST Video Chart 10-24-2019 * *
Link to Video - click here to watch the technical chart video
Wild Bill...Well put...you as I and many others have seen what should have been a great story turned into 'almost' dust....The fat lady hasnt started warming up yet but i think we all know you can only go so far with this kind of activity...I only hope that Jamison and his 'goons' get booted out although at this point in time i feel probably not.
A possible alternative would be to do a merger or such with a compatible tech firm with superior marketing. Sales Aren’t bad, just more will be better.
Thanks. So extending your logic... investors will be saved by a buy out? That is a pity, as the technology seems to be superior. Richard’s litany of generator sales here and abroad shows that there is very deep market out there. Sigh.
never this level of downside pressure
Long story short is that Jamison squandered all market trust with over a decade of hot air promises without ever delivering and made major operational mistakes that exacerabted the non-profitability of the company before finally beginning to take steps that should have been taken a decade or so earlier.
Likely many tried to hang in, as did I (and still have two very small positions that I don't mind going to $0) and we were likely heartened when he decided to consolidate into a single location among other potential positive steps.
Skipping ahead ...
Then he gets stupid and sponsors an Indy car. Says he'll increase marketing expense 10-fold as a way to solve the issues, gets in bed with "The Squid" (Goldman-Sachs) with huge debt and warrants and so forth.
Shorters especially, and even short-term day traders, recognize easy prey when they see it.
That gives the results we see.
I'm of the opinion D.J. and the board are doing nothing more than milking what they can out of the market now.
MHUO,
Bill
reverse split? forward split? ...
Sorry for tardy reply - been "Occupado"!
Reverse split is a given, only the timing and ratio are unknown.
Of course today we know bott - 10/1 R/S after market 10/21, yielding new stock price of $2.91.
Here's some stuff from today. Post re 1st R/S day results
Bill
EBITDA break even is right around the corner boys! HOCKEY STICK growth!1$eLEVenty!
https://ir.capstoneturbine.com/press-releases/detail/3723
Yup chlingon..it happened...The Jamison split...1 for 10...Now just wait for the rats to jump the ship in the next few months....a cat only has so many lifes.
Wow, never seen this drop so low. They must be slacking on that R/S.
Capstone Turbine - A Great Short Even At All-Time Lows
Oct. 18, 2019 8:48 AM ET|
11 comments |
Henrik Alex
Summary
Company provides disappointing preliminary Q2/FY2020 results.
Despite a $5.1 million emergency capital raise in early September, cash balance declined even further with available liquidity below $9 million at quarter end.
At the current pace of cash burn, the company will likely violate debt covenants early next year.
Expect the company to aggressively sell new shares into the open market after the reverse stock split next month.
Equityholders are basically stuck between a rock and a hard place as they will either end up being diluted into oblivion or wiped out in bankruptcy. Get short.
Note:
I have covered Capstone Turbine (NASDAQ:CPST) previously, so investors should view this as an update to my earlier articles on the company.
On Thursday morning, Capstone Turbine provided investors an early look at the company's upcoming Q2/FY2020 results:
total preliminary revenue of $20.7 million.
book-to-bill ratio of 1.0:1
total cash and cash equivalents as of September 30, 2019, are estimated to be $20.9 million, compared to $24.6 million as of June 30, 2019.
While revenue was up by 8% sequentially, the company's top line actually came in well below consensus expectations of $23.2 million.
In addition, the company's book-to-bill ratio weakened substantially quarter-over-quarter, down from 1.7:1 in Q1 to just 1.0:1, by far the weakest bookings performance over the past couple of quarters.
Lastly, the company's cash position declined by another $3.7 million sequentially despite a $5.1 million emergency capital raise in early September with net proceeds of approximately $4.6 million.
Assuming no additional sales under the company's at-the-market offering ("ATM") program with H.C. Wainwright & Co., cash usage for the quarter calculates to a whopping $8.3 million.
Keep in mind that the company is subject to a $12 million minimum liquidity covenant governing $30 million in expensive senior secured debt owed to a subsidiary of Goldman Sachs (GS).
As a result, the company's available liquidity was down to just $8.9 million at the end of last month.
At the current cash burn rate, Capstone Turbine will likely violate the minimum liquidity covenant before the end of the company's fiscal year on March 31, 2020 despite a stipulated reduction to $9 million on February 4, 2020.
The only way to avoid the covenant breach would be to raise additional cash by diluting the company's already badly-stricken shareholders even further.
Given the rather low average daily trading volume of just 337k shares, selling stock into the open market would likely not raise sufficient funds for Capstone Turbine at this point.
As the company will have to execute another reverse stock split until November 18 at the latest point to avoid being delisted from the Nasdaq Stock Market, I would expect Capstone Turbine to aggressively utilize its ATM program immediately following the reverse stock split just like it did in November 2015 after an 1:20 reverse stock split.
Unfortunately, in absence of any meaningful progress in the business over the past couple of quarters, selling more stock into the open market will only delay the inevitable by a couple of months at best.
Bottom line:
More of the same at Capstone Turbine. The company's results remain underwhelming with cash burn staying at elevated levels and the weakest book-to-bill ratio reported over the past four quarters.
Given the urgent requirement to raise more capital, investors will have to prepare for further, outsized dilution following the upcoming reverse stock split next month.
Expect the shares to remain under heavy pressure over the next couple of weeks and to accelerate their decline following the reverse stock split due to anticipated, aggressive utilization of the company's ATM program.
Quite similar to FuelCell Energy (FCEL), common equityholders are basically stuck between a rock and a hard place as they will either end up being diluted into oblivion or wiped out in bankruptcy.
Investors should continue to avoid the shares or sell existing positions as Capstone Turbine is moving closer to bankruptcy. Even a short sale at current all-time lows should still yield decent returns.
Bill, I have seen a number of r/s trading but never this level of downside pressure. Is there an expectation that it will move up after the r/s? I am truly puzzled? Was CPST caught up in that SEC market manipulation case?
Pretty soon .....zero....that is one good way to get Jamison and his 'groupies' out of Capstone or was Capstone....
Have you seen anything about the r/s ratio? Wondering if my position will be wiped out. Also, why the huge downturn in the pps? Manipulated? Counter to usual run up prior to r/as.
This is telling it like it is..the clock is ticking Jamison...you had your chance and your 'groupies'..
https://seekingalpha.com/article/4297265-capstone-turbine-great-short-even-time-lows?dr=1
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Capstone Turbine Corporation® is the world's leading producer of low-emission microturbine systems, and was first to market with commercially viable air bearing turbine technology. The company has shipped thousands of Capstone turbines to customers worldwide. These award-winning systems have logged millions of documented runtime operating hours.
Capstone is a member of the U.S. Environmental Protection Agency's Combined Heat and Power Partnership which is committed to improving the efficiency of the nation's energy infrastructure and reducing emissions of pollutants and greenhouse gases.
A UL-Certified ISO 9001:2008 and 14001:2004 certified company, Capstone is headquartered in the Los Angeles area with sales and/or service centers in the New York Metro Area, Mexico City, Milan, Nottingham, Shanghai, Singapore, and Tokyo.
----------------------------------------------------------------------------
Capstone Turbine Testimonials:
http://www.capstoneturbine.com/news/testimonials.as
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Capstone Website: http://www.capstoneturbine.com/index.asp
Capstone SEC Filings: http://phx.corporate-ir.net/phoenix.zhtml?c=120708&p=irol-sec
Capstone Products: http://www.capstoneturbine.com/prodsol/products/
Annual Reports: http://phx.corporate-ir.net/phoenix.zhtml?c=120708&p=irol-reportsannual
___________________________________________________
Authorized Shares 415,000,000
Outstanding Shares 304,566,328
Float: 302.24 M
___________________________________
Capstone Headquarters located in Chatsworth, California
________________
Capstone Turbines:
C-200 C-200 C-1000 C-30
CPST CMT-380 Super Sports Car Velozi Electric Supercar with CPST Turbine Velozi Plug In with CPST Turbine
Designline Buses C-200 w/Recuperator
CPST HEV Truck with C-65 turbin
_____________________________________________________
CPST Turbine on Lethantia Super Yacht:
U-Tube:
https://www.youtube.com/watch?v=vLTinWDhZNk
___________________________________________________________
Super Yacht Powered by Capstone Turbines:
Latest news releases:2014 News Releases
10/01/14 | Capstone Penetrates Slovenian Industrial Market With Combined Heat & Power Project
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09/18/14 | Capstone Turbine Increases Presence in African Oil and Gas Market With Two Megawatt Order for Offshore Platform | ||
09/04/14 | Capstone Turbine Announces Two-Megawatt CHP Order From Regatta Solutions to Upgrade Southern California Technology Innovation Firm | ||
08/28/14 | Capstone Secures Order for Fifty C65s From Optimal Group in Australia | ||
08/25/14 | Capstone Receives 5.5MW Order From BPC Engineering for Russian Sports Centers | ||
08/21/14 | Capstone Announces Follow-On Order for Seventy Five C65s From Horizon Power Systems for Several U.S. Oil and Gas Customers | ||
08/19/14 | Capstone Expands CHP Footprint in Russian Manufacturing Sector in Spite of Geopolitical Tensions | ||
08/18/14 | Capstone Turbine Announces Webcast of Annual Meeting of Stockholders | ||
08/18/14 | Capstone Receives 9MW Factory Protection Plan Contract -- FPP Contract Backlog at Record of Over $55 Million | ||
08/14/14 | Capstone Secures Follow-On Order for Six C600s From Top Shale Producer | ||
08/12/14 | Capstone Receives C1000 Order for Exclusive Resort in the U.S. Virgin Islands | ||
08/11/14 | Capstone Receives Orders for Twenty-Five C65s From E-Finity Distributed Generation | ||
08/07/14 | Capstone Turbine Announces First Quarter Fiscal Year 2015 Operating Results | ||
07/31/14 | Capstone Secures C600 Order From Sarlin Oy Ab for First C600 Landfill Project in Finland
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07/24/14 | Capstone Turbine to Announce First Quarter Fiscal Year 2015 Results on August 7, 2014 | ||
07/17/14 | Capstone Expands Footprint in Indonesia With Sale of a C800 at a Cement Factory
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07/16/14 | Capstone Turbine Corporation Announces Internet Availability of Proxy Materials for Its 2014 Annual Meeting of Stockholders
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07/09/14 | Capstone Secures First Order in Oman for Oil & Gas Production
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06/12/14 | Capstone Turbine Announces Fourth Quarter and Fiscal Year 2014 Operating Results
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06/10/14 | Capstone Microturbines Surpass 100,000 Operating Hours in Cogeneration Application
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06/04/14 | Capstone Receives Follow-On Orders for Fifty C65s From Horizon Power Systems for Multiple U.S. Oil and Gas Customers
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05/29/14 | Capstone Turbine to Announce Fourth Quarter & Fiscal Year 2014 Results on June 12, 2014 | ||
05/12/14 | Capstone Names Richard B. Lewis as Vice President, Operations
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05/07/14 | Capstone Closes Equity Offering and Announces Preliminary Fiscal Year 2014 Operating Results
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05/05/14 | Capstone Receives 5.2MW in Orders From New Middle East and Africa Distributor
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05/01/14 | Capstone Turbine Announces Common Stock Offering
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04/23/14 | Capstone Turbine, E-Finity and Phoenix Contact Celebrate Earth Day With a Wire Cutting Ceremony at a Newly Installed C1000 CCHP Installation in Pennsylvania
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04/11/14 | Capstone Applauds the Introduction of American Microturbine Manufacturing and Clean Energy Deployment Act - H.R. 4428
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04/02/14 | Capstone Receives Orders From Taiwanese Distributor for Palm Oil Processing Plants
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03/20/14 | Capstone Turbine Receives 2013 Emissions Reduction Certificate From the US EPA Combined Heat and Power Partnership
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03/18/14 | Capstone Receives Orders for Approximately Four Megawatts From E-Finity for Multiple Oil and Gas Customers
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03/17/14 | Capstone Receives First C200 Order in United Kingdom for Royal Air Force Base
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03/12/14 | Capstone Receives Follow-on Orders for Fifty C65s From Horizon Power Systems for Multiple U.S. Oil and Gas Customers
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03/04/14 | Capstone Receives Two Orders Totaling 2.6MW From Regatta Solutions for Prominent Southern California Hospitals | ||
02/10/14 | Capstone Turbine Announces Third Quarter Fiscal Year 2014 Operating Results | ||
01/27/14 | Capstone Turbine to Announce Third Quarter Fiscal Year 2014 Results on February 10, 2014 | ||
01/17/14 | Capstone Receives Multiple Orders for Customers in the Permian Basin Shale Play | ||
01/13/14 | Capstone Receives Orders for Two C600s From Italian Distributor for Food Manufacturing Plants | ||
01/09/14 | Capstone Receives Multiple Orders Totaling 6.4MW from E-Finity for Marcellus and Utica Shale Plays | ||
01/07/14 | Capstone Secures 1MW Order From Regatta Solutions for CCHP Installation at Hawaiian Resort | ||
01/06/14 | Capstone Further Penetrates the Oil and Gas Market in Russia With Two Orders Totaling 24MW
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