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LVCP: GiraSolar Secures Critical Silicon Supply Contract
Wednesday March 8, 9:04 am ET
Company Positioned for Significant Revenues
DEVENTER, THE NETHERLANDS--(MARKET WIRE)--Mar 8, 2006 -- GiraSolar BV (Other OTC:LVCP.PK - News) today announced that it has secured a contract to supply ingots to the company from a German supplier. The contract represents for GiraSolar, when used in its products, an estimated gross revenue of approximately $30 million.
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Ingots are an intermediate crystalline product made from very pure silicon. The silicon crystal ingots are sliced into wafers from which solar cells are made that are used to construct crystalline solar panels. Silicon has been in short supply in the solar industry.
"We are pleased with the market opportunities that we are seeing on a regular basis. The foundation for continued growth gets stronger with each order. We have also been aided by our status as a public company in securing new opportunities," said Wieland Koornstra, President of GiraSolar BV.
In addition, Koen Dirven, COO of GiraSolar stated: "The modules we will make with the cells produced from these ingots should induce sales revenue of over $ 30 million for a period of 12 months following first shipment of material in early April 2006. With this contract, we continue on track with our target to be profitable in 2006 and allowing us access to critical raw materials through a significant part of 2007."
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WOOOOOOOOOOOOOOOOOOOOOWWWWWWWWWWWWWWWWWWWWWW
Long and strong!
This is going past $5.00. That is usually where these run to. 2 PRs in one week would get us there.
I sold....But wanna buy back!
What an incredible month. Ridem' Comboy!
Good for you. I like to hear success stories!
I would have done the same thing as you!!
Keep up the good work and let me know if you have any other good stocks to watch!!
nope...still in
sold some i had a GTC sell order at 2.00 for like months now, but have traded this enough that i still own a few thousand shares i plan to hold long-term.
Looks awesome!!
I think we can....And we will!!
running today....
If we can break 1.65 today we may see $2.00+
Looks very tight! I think we are headed to $2.00 in the next week or so!!
Thanks Sweetcrude. I am there under Coolio1717
hit $1.65 today
tomorrow morning should be interesting.
1.10 x 1.20
come visit us over on the ragingbull board coolio
http://ragingbull.lycos.com/mboard/boards.cgi?board=lvcp
LVCP is way undervalued!!!!
Great news.Thanks for the update Sweet Crude. I some how missed it!
LVCP upgraded from B+ to A-
http://www.ludlowcapital.com/reports/lvcp.htm
Ludlow Capital Upgrades Legend Investment (LVCP) Rating from B+ to A-
NEW YORK--Feb. 24, 2006--Ludlow Capital upgraded Legend Investment (OTC: LVCP) rating from B+ to a current rating of A-.
GIRASOLAR ACQUISITION
Legend Investment (LVCP) has been basically a non-operating public shell for the past 12 months, but on Thursday, Feb. 23, 2006 the company announced that they had completed the acquisition of 51% of Dutch solar company GiraSolar, BV. www.girasolar.nl.
Included in the acquisition are GiraSolar's three main divisions which consist of 100% owned DutchSolar B.V., 51% owned GiraSolar Turkey Ltd. Ste. (GST), and 100% owned GiraMundo B.V. DutchSolar BV is based in the GiraSolar headquarters in Deventer, The Netherlands, and has production locations in the Netherlands and abroad.
CURRENT & FUTURE REVENUE PROJECTIONS
In fiscal 2004/2005, GiraSolar generated $12,000,000 in sales revenue, and is in the process of converting their European audits to US GAAP standards which will now be reflected on Legend Investments financial filings with the SEC. In fiscal 2005/2006, GiraSolar is projecting revenues of approximately $16,000,000, with a further revenue projection of $30,000,000 for fiscal 2007. GiraSolar expects to achieve profitable results in fiscal 2006.
SHARES OUTSTANDING
Before the acquisition, Legend Investment had only around 4.6 million shares issued and outstanding. Legend Investment acquired their 51% stake in GiraSolar through the issuance of just 2,000,000 shares restricted, and now should have approximately 6,678,480 shares issued and outstanding upon closing of the acquisition.
NAME CHANGE & POTENTIAL NASDAQ LISTING
Now that the acquisition of GiraSolar is complete, we would look for a company name and ticker symbol change to better reflect the new company and business direction. At the same time we may see Wieland Koornstra the CEO of GiraSolar named as the new CEO of LVCP.
The new company may have a strong shot at actually being able to apply and be granted approval for at least a NASDAQ Small Cap listing based on their capital structure, and now current assets and revenues. To apply for a NASDAQ Small Cap listing a stock must maintain a minimum $4 bid price for over a 30 day period, which wouldn't be out of the realm of possibility. At $4 a share LVCP would only have a market cap of around $26.4 million, which isn't that outlandish. This may be a longer-term prospect, but LVCP has a strong shot of meeting that criteria.
VALUATION RATING
LVCP now represents a $12 million Dutch solar power company, with only 6.6 million shares issued and outstanding after the acquisition. Based on the company's current shares outstanding (6.6 million) and fiscal 2005 revenues ($12 million), Ludlow Capital feels a 'fair' market cap value for Legend Investment should now be around $12 to $20 million, which would represent a stock price of around $2.00 to $3.00 a share. Thus, Ludlow Capital is upgrading LVCP rating from B+ to a current rating of A- based on a current stock price of only $0.55 a share and a market cap valuation of only $3.6 million.
I really think we pick up volume by Monday!
I am pumped about this!
This is HUGE NEWS!!!!
big news
only 2 million issued, so we are looking at like 7 million outstanding and 51% of a $12 million Dutch solar company. Spread the word!
Thanks for the info Sweet crude. It does look really good.
I expect at least a $1.50 in the short term. I am looking into a few others as well but need to do a bit more research.
Stay tuned!
Believe me, it will not take much!
Feb. 28th deadline....
said they expect to close the girasolar deal on or before Feb. 28th, which is next Tuesday...not many trading days left. Could be announced any minute.
chart also looks like its forming a real trading apttern and heading up to test 1.00+
News would be awesome this week.
Tuesday news could put this close to $2/share.
But hopefully sooner than later.......$$$$
I am hearing at least $2.00!
Im still here.....
and plan to remain...this could go to $2 to $3 in my opinion.
What a funny spread but that sometimes happens with small floats.
Let me know if yuo have any up-dates Jersey Joe. As I told you, I have held ALRX for 2 years now!
You and me both!
Those are all good companies!!
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