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Good for you. This is my third biggest POS long in my life. Right behind First Plus, and Cortex Pharmacueticals. Pure vapor.
MF4
Got out in January at $3.17. Boy am I glad I only lost 52% on this POS.
Well, I dont know why others are buying, but I bought a long time ago and am out. ESLR common stock will be suspensed on the 24th per their 8k filing and will be untradable on a regular exchange at that time.
Its a OTC Penny and you can never sell it anymore
So people are buying this thing because???
Important information in 2nd 8k.
Taken from the 8k dated 16Aug2011 located on the ESLR web site under SEC filings. http://evergreensolar.com/en/invest
"...The Company does not plan to appeal the Staff's determination to delist the Company's common stock. Accordingly, trading of the Company's common stock will be suspended at the opening of business on August 24, 2011, and a Form 25-NSE will be filed with the Securities and Exchange Commission, which will remove the Company's securities from listing and registration on Nasdaq...."
Along with the reorganization, they should rename the company NeverGreen Solar. NSLR
MF4
Playing with fire? Not good!
Can you drop me as Assistant Mod?
Believe it or not, that Iron Ore Mine in NV you commented on once is an RS that appears to working. The only RS that appears to work is a young company that migrated to a successful business and the RS purely for an uplist or to make additional financing more attractive. Most are in dire straigts like ESLR trying to keep the share structure such that they can stay listed or raise more cash to support losing operations. A failed business is a failed business, plain and simple I guess...
Well keep in touch DFW...
Chapter 11 is all I needed to hear. OUT FOR GOOD!
I am good got stopped out twice....
I prefer long term Capital loss to deduct from long term gains
but I think I will drop as Mod.....
Just once I would like to see a R/S that is not the kiss of death...
We will see its not that big of a deal...
Bounce lol..no chance.
They are BK CHAPTER 11!!!! Just a bounce play for me
That will happen before the gap.down open..nice trade
I hope it goes 2 .001 because im out at .17
Anyone with a brain can see commoners will lose everything in this
I Bought in at .14 my sell stop goes off at .17!!!
Worst is over..lol...maybe at .001
Toxic pollution all over filings...don't walk...run away...I did my dd here.
The worst is over....Tiny Float...
I bought some Today in the .14 ......
This paper may trade productively at times for a while as we saw that this afternoon. Someone could of picked some up for .16 and sold for .18. WAMU still trades believe it or not. Unlike WAMU, when the current public company ceases to exist, the common shares will be worthless and will be retired. A class action suite is pointless here, though a lawyer may try.
JMHO.
Thanks. I was hoping revs could gear up again so they could slow down the cash drain, but when they let us know they stopped making interest payments, that was enough for me. Missing 2nd Q was also a very bad sign and sold there also. I though BK was a real threat for a while now.
Hope you didn't lose to much here DFW. I was only playing with a grand or so...
Evergreen Solar Files for Chapter 11 Reorganization
http://ih.advfn.com/p.php?pid=nmona&article=48835583&symbol=ESLR
Evergreen Solar, Inc. (NasdaqCM: ESLR), a manufacturer of String Ribbon® solar power products with its proprietary, low-cost silicon wafer technology, today announced that it had voluntarily filed a petition for relief under Chapter 11 of the U.S. Bankruptcy Code. The petition was filed in the U.S. Bankruptcy Court for the District of Delaware.
In conjunction with the Chapter 11 filing, the Company entered into a restructuring support agreement with certain holders of more than 70% of the outstanding principal amount of the Company’s 13% Convertible Senior Secured Notes, or the supporting noteholders. Pursuant to the restructuring support agreement, the supporting noteholders have agreed, subject to certain terms and conditions, to implement the restructuring to be effected through one or more sales of certain of the Company’s assets pursuant to section 363 of the Bankruptcy Code, including the Company’s String Ribbon™ wafer technology business assets. As part of the bankruptcy process the Company will undertake a marketing process and will permit all parties to bid on its assets, as a whole or in groups pursuant to section 363 of the Bankruptcy Code. The supporting noteholders have agreed to support the Company’s restructuring by consenting to cash collateral usage pursuant to a budget during the sale process; and to support the costs of the Bankruptcy Case, including court approval of a plan of reorganization subsequent to the sale process.
As part of the restructuring, an entity formed by the supporting noteholders, ES Purchaser, LLC, entered into an asset purchase agreement with the Company. ES Purchaser will serve as a “stalking-horse” and provide a “credit-bid” pursuant to the Bankruptcy Code for assets being sold. If higher or better offers for assets are not obtained, it is expected that most of the Company’s assets will be acquired by ES Purchaser pursuant to the asset purchase agreement. The asset purchase agreement for the 363 sale is subject to Bankruptcy Court approval and other customary closing conditions. The Company has the requisite funding in hand to operate in Chapter 11 and will continue to operate but with additional operational changes necessary to continue to reduce expenses.
“Since January, Evergreen Solar has been aggressively repositioning itself to fully leverage the potential our String Ribbon wafers can bring to high volume solar cell and module manufacturers as these customers are facing severe pressure to further reduce their total cost of manufacturing and particularly their wafer supply costs. The actions we are taking today enable the continued development of an industry standard wafer using Evergreen’s differentiated technology and thereby provide the lowest cost wafer to the growing solar industry,” said Michael El-Hillow, the Company’s President and Chief Executive Officer.
“Chapter 11 will provide Evergreen Solar with the ability to maximize returns for our stakeholders through the proposed sale process. Importantly, we expect to continue our technology development without interruption during Chapter 11 and the sale process. Day-to-day operations will go on as usual as employees carry out their responsibilities and we will continue to pay our suppliers and vendors for goods and services received during this period,” Mr. El-Hillow added.
As part of Evergreen Solar’s reorganization activities, the Company will reduce its United States and European workforce by about 65 people, including suspension of operations at its Midland, Michigan filament facility, and will have 50 people supporting development, 10 people in administration as well as 25 people supporting industry standard wafer development in Wuhan, China. The Company’s Wuhan China manufacturing business is expected to continue depending on market demand while the Company engages in discussions with its investors in China regarding possible changes to that operation and its sources of financing, including the possibility of transitioning its operations to the Company’s new industry standard wafer technology.
Based upon the estimated value of the Company’s assets, the assets are expected to be insufficient to satisfy all its obligations to its creditors. Accordingly, it is expected that no distributions will be made to holders of common stock and the common stock will be extinguished upon consummation of the Chapter 11 plan.
Ch 11 time to move on..
The stock ran down before the news of CH 11.. I say insiders got a tip off imo
PPW is too high and looking at the last 10K, some pretty huge salaries and G & A.
Buh Bye
I can not see it hitting that low. but then who knows lol !!
I SMELL 1's are coming then i buy and sell on 41 :)
I SMELL CLASS ACTION LAWSUITS IN THE AIR
SELLERS are slowly going , more buys coming in .would like to see a bounce up from here.
indeed, i wil buy @ 0,01
reorganize without shareholders ..roflmfao...great job management
sell now or never get out alive... jmho
How's that possible:
"Accordingly, it is expected that no distributions will be made to holders of common stock and the common stock will be extinguished upon consummation of the Chapter 11 plan. "
Perhaps someday the new stock will be great, but the old stock is officially done...
Very sorry for any new investers left holding the bag here.
JMHO.
massive vomit the pps is done company is virtual junk
why buy at 21 cents this is going under 2 cents
someday, this stock is going to be great.
massive dumpage this is going sub penny look out bellllooooowwwww
so shareholders get nothing?go bust?this sucks!!!
ESLR filed the NT10-Q. Our quarterly report will be late for these reasons below.
Form type 10-Q will be submitted late found at the SEC filings link NT 10-Q on the ESLR website
"
As previously disclosed on May 12, 2011, Evergreen Solar, Inc., a Delaware corporation (the "Company"), has been in negotiations with the holders of its
13% Convertible Senior Secured Notes due 2015 to restructure its existing debt. As a result of these negotiations, the Company has been required to devote a
substantial portion of its personnel and administrative resources, including the personnel and resources of its accounting and financial reporting organization,
to matters relating to the negotiations. The efforts associated with these ongoing discussions have caused a delay in the ability of the Company to close its
books and records, finalize its operating results and prepare its financial statements for the quarter ended July 2, 2011. For these reasons, the Company has not
been able to file its Report on Form 10-Q for the quarter ended July 2, 2011 (the "Quarterly Report"), within the prescribed time period. Management is
diligently working to close its books and records and prepare financial statements as soon as possible with a target of filing the Quarterly Report within the
grace period prescribed by Rule 12b-25 under the Securities Exchange Act of 1934, as amended.
"
Not good (of course) - would explain the last slide.
Hope for the best in the meantime, and take care of yourselves.
They missed some interest payments... That was the last nose dive.
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Investor information/links provided by the company:
Business Summary
Evergreen Solar, Inc. develops, manufactures, and markets solar power products primarily in Europe and the United States. It utilizes its proprietary ?String Ribbon' technology process in manufacturing ribbons of crystalline silicon, which are then cut into wafers. These wafers are the primary components of photovoltaic cells that are used to produce solar panels. The company principally offers solar wafer, a flat piece of crystalline silicon that can be processed and assembled into a solar cell; solar cell, a device made from a silicon wafer that converts sunlight into electricity; and solar panel, an assembly of solar cells that are electrically interconnected and laminated for electric power generation, such as on-grid and off-grid generation. Evergreen sells its products through distributors, systems integrators, and value-added resellers. It has a strategic partnership with Q-Cells AG. The company was founded in 1994 and is headquartered in Marlboro, Massachusetts.
There’s never been a better choice for solar panels than Evergreen Solar. Our panels are made by state of the art manufacturing featuring our unique String Ribbon wafer technology. Add the fact that we manufacture everything — wafers, cells and panels — all under one roof for ultimate quality control, and it’s not surprising then that our solar panels are among the highest quality products in the industry. And that’s not all. Because of the unique way they’re made, they are the most environmentally friendly solar panels in the business.
String Ribbon™… A Better Way to Make Solar Power
There’s never been a better choice for solar panels than Evergreen Solar. Our panels are made by state of the art manufacturing featuring our unique String Ribbon wafer technology. Add the fact that we manufacture everything — wafers, cells and panels — all under one roof for ultimate quality control, and it’s not surprising then that our solar panels are among the highest quality products in the industry. And that’s not all. Because of the unique way they’re made, they are the most environmentally friendly solar panels in the business.
Turning Technology Into Practical Solutions
We have rapidly become a global technology leader and innovator in the solar industry. And although technology is what we thrive on, bringing it to practical, commercial scale solutions is what drives each and every one of us. We have been in business for more than 13 years which makes us well established experts in the industry. We are a public company that’s experiencing rapid growth, and can be found under ESLR on the NASDAQ stock exchange. If you’d like investor information please visit our investor relations area.
A Better Way to Make Solar Power
With innovations like String Ribbon manufacturing, it’s no wonder Evergreen Solar is recognized as the brightest star in the solar industry. But String Ribbon is just the beginning. We have more innovations in the works, including a revolutionary method of producing thinner wafers, and unique ways to boost our manufacturing and product efficiencies even further. Add the fact that we manufacture everything — wafers, cells and panels — all under one roof for ultimate quality control, and it’s clear that Evergreen Solar is committed to being the best in the industry.
Safe Harbor Statement
This website and webpage includes forward-looking statements pertaining to future anticipated projected plans, performance and developments, intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Any statements on this website that are not statements of historical fact should be considered forward-looking statements. These forward-looking statements generally can be identified by phrases such as "believes," "expects," "anticipates," "foresees," "forecasts," "estimates," "intends," or other words or phrases of similar import. Similarly, statements in this website that describe a company's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements.
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