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....gulp. Unbelievable!
Very nice! $MFST
Worth the wait and already worth the dip load:)
Class A common stock. On 3/17/17
https://www.sec.gov/Archives/edgar/data/1425565/000157104917002639/xslF345X03/t1700180a_lacey0317.xml
Yes. And here are many examples of "confidentiality " in LOI
https://www.lawinsider.com/usage/confidentiality-clause-uses-in-letter-of-intent
Great bounce!!opmz
:)
Ha! At this rate, definitely not 8. IMO
But yes, this will take a while to get real legs again. Unless some unforeseen event surprises.
A link to add to the granby project
http://solarizect.com/our-towns/granby/
Looks like April 5 open house type deal to obtain more residential contracts. Just a tiny DD point to add to the board here
Bull move today! $MFST
Funny you mention it. I was going to say something similar, was however to embarrassed to admit LOL!
I re entered yesterday where i thought it had to bounce near EOD.
I also am looking for another entry below 1.30 if funds are available at that time.
Can't believe how the market is playing this. So oversold. And company has pulled all the stops to save business and position for growth.
How low will it go before sentiment turns seems to have no tell tails at this point. This price and movement seems disconnected from technical and fundamental analysis.
That said, imo, at this level, if/when sentiment turns positive, there will be a big run before settling.
I'm looking for that run.
Been watching the trading here for a while. Today it looks like this is getting bought up bellow 1.50 and will run up 1.70 at some point today...just a technical guess.
Yep, ha! That's about right. I can be long winded.
Cheers
Some highlights
With their new capital position, they will be growing their residential sales engine by training and supplying team with necessary skills and equipment to continue increasing growth in the east coast and Hawaii.
Sounds like with lower cost of materials and the above mentioned, they will be able to catch up on backlog. Real significant change was said to be about a year out.
Also with the 5year extension on tax credit for home owners to PURCHASE instead of rent solar, this will add to potential revenue.
I think I heard expected 16mil quarterly rev??
Also, another important point made was Solarized programs on the east coast may be ready to pull the trigger on picking up RGSE as they were waiting for them to be in a better financial position.
Another interesting addition was this "diversity product offering "
Sounds like they will be getting into the battery business! Perhaps rolling it out in Hawaii first.
Just all from memory here,
Please feel free to correct any misinformation or misunderstanding I shared
Here's to up from here!...I hope :)
Agreed.
"Net loss totaled $10.5 million in the fourth quarter of 2016 as compared to $7.7
million in the previous quarter. The increase was primarily due to non-cash
charges to income totaling $8.3 million for the change in derivative
liabilities, net and loss on debt extinguishment, with these charges
representing more than 80% of the loss for the quarter. The company does not
expect to incur similar non-cash charges of a material amount in 2017.
Cash was $2.9 million and stockholders’ equity totaled $5.0 million at December
31, 2016. Subsequent to the year-end, the company’s cash and stockholder’s
equity increased by $16.1 million as a result of the February 2017 capital
raises. The additional capital has allowed the company to pay off and terminate
its revolving line of credit facility. As a result, the company is now debt
free. "
Out of the mud and back to business!
RGS Energy Reports Fourth Quarter and Full Year 2016 Results
3/9/17, 1:01 PM
DENVER, March 09, 2017 (GLOBE NEWSWIRE) -- RGS Energy (NASDAQ:RGSE), a residential and small commercial solar company since 1978, reported results for its fourth quarter ended December 31, 2016.
Capital Raising and Growth Strategy UpdateRGS Energy’s goal of raising additional working capital was achieved:
In 2016, the company raised net proceeds totaling $16.5 million from offerings of convertible notes, convertible preferred stock, common stock and warrants.In February 2017, the company raised net proceeds of $16.1 million from offerings of common stock and warrants.
The funding has enabled the company to focus on its growth strategy, which includes:
Hiring and training for its homeowner sales, sales support and in-house construction teams.Expanding its small commercial sales team.Expanding the marketing team and securing effective marketing agreements for customer leads to support a larger sales organization.Continue to reduce the cost of materials, which supports stronger margins and more competitive pricing.Continue to focus on the company’s niche: consumers looking to purchase solar systems with cash or third-party financing rather than leasing.
Q4 2016 Financial SummaryGiven its improved working capital position, the company more than doubled its revenue sequentially to $5.1 million in the fourth quarter of 2016.
Gross margin percentage was 24.5% in the fourth quarter of 2016, up from 4.8% in the previous quarter.
Net loss totaled $10.5 million in the fourth quarter of 2016 as compared to $7.7
million in the previous quarter. The increase was primarily due to non-cash
charges to income totaling $8.3 million for the change in derivative
liabilities, net and loss on debt extinguishment, with these charges
representing more than 80% of the loss for the quarter. The company does not
expect to incur similar non-cash charges of a material amount in 2017.
Cash was $2.9 million and stockholders’ equity totaled $5.0 million at December
31, 2016. Subsequent to the year-end, the company’s cash and stockholder’s
equity increased by $16.1 million as a result of the February 2017 capital
raises. The additional capital has allowed the company to pay off and terminate
its revolving line of credit facility. As a result, the company is now debt
free.
Management Commentary“Our sales and installation teams have been picking up the
pace since we improved our working capital position,” said Dennis Lacey, CEO of
RGS Energy. “Macroeconomic tailwinds are in our favor, including rising
electricity rates, declining cost of materials, and extension of the investment
tax credit for homeowners who purchase rather than lease their solar systems. In
2017, we will invest in our sales and construction teams, training programs,
marketing spend, and diversifying our product offerings, all with the goal of
growing top line revenue.”
Segment Results
Residential Segment:(000’s omitted) 4th 3rd 4th
Quarter2016 Quarter2016 Quarter2015
Revenue $ 4,800 $ 1,427 $ 5,344
Cost of goods sold 3,502 1,591 4,480
Gross margin 1,298 (164 ) 864
Gross margin % 27.04 % -11.49 % 16.17 %
Operating expenses 1,128 1,235 2,101
Operating income(loss) 170 (1,399 ) (1,237 )
Backlog $ 5,934 $ 9,722 $ 9,503
The company installed solar equipment on 138 roofs in the fourth quarter of 2016, compared to 54 installations in the previous quarter and 151 installations in the fourth quarter of 2015.
Residential segment gross margin percentage in the fourth quarter of 2016 was
27.04% versus a negative 11.49% in previous quarter and up from positive 16.17%
in year-ago quarter. The sequential improvement was due to increased revenue and
having better pricing on materials with current vendors. Compared to the
year-ago quarter, the improvement reflects the reduced cost of materials and
process efficiencies of the company’s installation crews.
Residential segment backlog decreased to $5.9 million at December 31, 2016 from
$9.7 million at September 30, 2016. New sales orders decreased 55% to $2.5
million during the fourth quarter of 2016 as compared to $5.6 million in the
year-ago quarter. Net cancellations decreased 33% to $1.8 million in the fourth
quarter of 2016 as compared to $2.6 million in the same year-ago quarter.
Sunetric Segment:(000’s omitted) 4th 3rd 4th
Quarter2016 Quarter2016 Quarter2015
Revenue $ 339 $ 1,036 $ 4,405
Cost of goods sold 379 755 3,740
Gross margin (40 ) 281 665
Gross margin % -11.80 % 27.12 % 15.10 %
Operating expenses 438 381 810
Operating income (loss) (478 ) (100 ) (145 )
Backlog $ 2,448 $ 2,871 $ 7,195
Residential sales for Sunetric have been adversely impacted by the regulations
of the local utility and, in response, Sunetric is building a sales organization
around commercial sales.
4th 3rd 4th
Corporate Segment & Other:(000’s omitted)
Quarter2016 Quarter2016 Quarter201
5
Corporate Segment:
General and administrative expenses
$ 1,257 $ 1,268 $ 1,866
Stock option compensation
191 175 253
Litigation - - 420
Depreciation & amortization
103 96 99
Operating income (loss)
$ (1,551 ) $ (1,539 ) $ (2,638 )
Other:
Other income and interest expense
$ (596 ) $ (1,330 ) $ (101 )
Change in derivative liabilities, net and loss on debt extinguishment (8,296 ) (3,366 ) 203
Income taxes - - 31
Discontinued operations $ 272 $ (1 ) (260 )
The net non-cash charge for change in derivative liabilities and debt extinguishment increased sequentially as the convertible notes were substantially converted to Class A common stock during the fourth quarter of 2016. Additional paid-in capital was increased for the debt extinguishment.
Conference Call RGS Energy will hold a conference call to discuss its fourth quarter 2016 financial results later today.
Date: Thursday, March 9, 2017Time: 4:30 p.m. Eastern time (2:30 p.m. Mountain
time)Toll-free dial-in number: 1-800-239-9838International dial-in number:
1-913-312-1295Conference ID: 4013622Webcast:
http://public.viavid.com/index.php?id=123147
The conference call will be webcast live and available for replay via the investor relations section of the company's website at RGSEnergy.com.
Please call the conference telephone number five minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact CMA at 1-949-432-7566.
A replay of the call will be available after 7:30 p.m. Eastern time on the same day through March 16, 2017.
Toll-free replay number: 1-844-512-2921International replay number: 1-412-317-6671Replay ID: 4013622
About RGS EnergyRGS Energy (NASDAQ:RGSE) is America’s original solar company,
installing more than 25,000 residential and commercial solar power systems since
1978. RGS Energy makes it convenient for customers to save on their energy bill
by providing turnkey solar solutions - from system design, construction
planning, and customer financing assistance to installation, interconnection and
warranty.
For more information, go to RGSEnergy.com, or connect with the company at www.facebook.com/rgsenergy or www.twitter.com/rgsenergy. Information on such websites is not incorporated by reference into this press release.
RGS Energy is the company’s registered trade name, and files periodic and other
reports with the Securities and Exchange Commission under its corporate name,
Real Goods Solar, Inc.
Forward-Looking Statements and Cautionary Statements This press release contains
forward-looking statements within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995 that involve risks and uncertainties, including
statements regarding RGS Energy’s results of operations and financial positions,
and RGS Energy’s business and financial strategies. Forward-looking statements
are neither historical facts nor assurances of future performance. Instead, they
provide our current beliefs, expectations, assumptions, forecasts, and
hypothetical constructs about future events, and include statements regarding
our future results of operations and financial position, business strategy,
budgets, projected costs, plans and objectives of management for future
operations. The words “plan,” “expect,” “future,” “may,” “will” and similar
expressions as they relate to us are intended to identify such forward-looking
statements.
Forward-looking statements should not be read as a guarantee of future
performance or results, and will not necessarily be accurate indications of the
times at, or by, which such performance or results will be achieved, if at
all. Forward looking statements are subject to risks and uncertainties that
could cause actual performance or results to differ materially from those
expressed in or suggested by the forward looking statements. Therefore, RGS
Energy cautions you against relying on any of these forward-looking statements.
Key risks and uncertainties that may cause a change in any forward-looking
statement or that could cause our actual results and financial condition to
differ materially from those indicated in the forward-looking statements
include: the effect of electric power generation industry regulations in the
states where RGS Energy operates, net electric power metering and related
policies; the effect of future changes to federal and state incentives for
renewables; the level of demand for RGS Energy’s solar energy systems; the
availability of a sufficient, timely, and cost-effective supply of solar panels;
RGS Energy’s ability to implement its growth strategy, achieve its target level
of sales, and to generate cash flow from operations; RGS Energy’s ability to
achieve break-even and better results; the resolution of contract disputes in
its discontinued operations; future electricity rates; the amount of any
non-cash charges in future periods; and RGS Energy’s ability to successfully
expand its product offering to include battery technology.
You should read the section entitled “Risk Factors” in our 2015 Annual Report on
Form 10-K and in our Quarterly Reports on Form 10-Q, for 2016, each of which has
been filed with the Securities and Exchange Commission, which identify certain
of these and additional risks and uncertainties. Any forward-looking statements
made by us in this press release speak only as of the date of this press
release. Factors or events that could cause our actual results to differ may
emerge from time to time, and it is not possible for us to predict all of them.
We do not undertake any obligation to publicly update or revise any
forward-looking statement, whether as a result of new information, future
developments or otherwise, except as may be required by law.
RGSE EnergyCondensed Consolidated Balance Sheets(in thousands)
December December
31, 2016 31, 2015
Cash $ 2,940 $ 594
Restricted cash 173 -
Accounts receivable 3,002 4,374
Inventory 1,502 2,051
Other current assets 1,329 2,527
Assets of discontinued operations 909 2,853
Total current assets 9,855 12,399
Goodwill 1,338 1,338
Other assets 1,928 2,420
Assets of discontinued operations 1,252 878
Total assets $ 14,373 $ 17,035
Line of credit $ 663 $ 774
Convertible debt 124 -
Accounts payable 2,555 9,121
Other current liabilities 2,470 3,054
Liabilities of discontinued operations 1,457 4,510
Total current liabilities 7,269 17,459
Derivative liability 137 342
Other liabilities 1,764 22
Liabilities of discontinued operations 225 225
Total liabilities 9,395 18,048
Stockholder’s equity (deficit) 4,978 (1,013 )
Liabilities and stockholders' deficit $ 14,373 $ 17,035
RGS EnergyConsolidated Summary Statements of Operations(in thousands, except per
share amounts)
Three Months Ended Twelve Months Ended
December 31, December 31,
2016 2015 2016 2015
Net revenue $ 5,139 $ 9,749 $ 17,425 $ 45,527
Cost of goods sold 3,881 8,220 15,550 39,091
Gross margin 1,258 1,529 1,875 6,436
Gross margin (%) 24.48 % 15.68 % 10.76 % 14.14 %
Selling and operating 1,502 3,507 7,006 13,924
General and 1,314 1,443 5,250 5,818
administrative
Stock option 191 253 708 784
compensation
Restructuring costs 2 (177 ) 39 247
Litigation - 420 24 2,004
Depreciation and 108 108 424 484
amortization
Total expenses 3,117 5,554 13,451 23,261
Operating loss from (1,859 ) (4,025 ) (11,576 ) (16,825 ) continuing operations
Other income (38 ) (36 ) (21 ) 386
Interest expense (558 ) (65 ) (2,811 ) (487 )
Change in derivative
liabilities, net and (8,296 ) 203 (11,395 ) 7,127
loss on debt
extinguishment
Income tax expense/ - 31 27 9 (benefit)
Income/(loss) from
continuing operations, (10,751 ) (3,954 ) (25,830 ) (9,808 )
net of tax
Income/(loss) from
discontinued
It wants to test that 1.65. Looking good on bids above
Got to say, with this percentage today after the past couple weeks, there must be positive news in the pipeline imo
Would Love2 to see that! $RGSE
And should be a press release before CC.
There's the break. Guess we'll see what the fins are about next.
...125k at the top of the bid at 1.60....
Saw that bid again. Quite funny seeing the bids and asks pop back when that Super bull bid shows!
GL. Been way over sold...for fair reasons , but opportunity is here
Saw that! Flashed for a moment. 65 break this morning would be pleasant to see.
Great start for a green morning. In and out. Just want to hear about/ see those fundamentals today. They have been forced to be creative and carful for a while now. Interesting to see where they are and how they plan to move forward.
HA!!! Let me get this right...
To paraphrase your statement...
'So maybe they are doing something NOBODY HAS SEEN And NOBODY KNOWS AND NOBODY CAN CONFIRM, and it's based on that, they are missing required filings required by these made up unverified events , and to that I am going to say there is something illegal going on and it's a scam'
Yeahhhhh , doesn't sound like NHMD, or a solid point
LOL
That is totally FALSE! ---good thing investors know real facts from, from conjecture and conspiracy
HA! More great DD! No bid?! Mark it
THAT WILL NEVER HAPPEN..
unless, oh yeah, some live by "alternate facts" now. the NHMD alternate universe where only non investors care to entertain false claims and point to DD they make up.
Funny stuff here.
GL with that.
L2---love what I see.
Bulls taking it
Share Structure as 03.03.17
Common Shares Outstanding: 361,721,856
http://www.natesfoodco.com/investor-relations/
Share Structure as 03.03.17
Common Shares Outstanding: 361,721,856
Float: 347,879,856
Authorized: 500,000,000
http://www.natesfoodco.com/investor-relations/
Share Structure as 03.03.17
Common Shares Outstanding: 361,721,856
Float: 347,879,856
Authorized: 500,000,000
http://www.natesfoodco.com/investor-relations/
Share Structure as 03.03.17
Authorized: 500,000,000 - Common Shares Outstanding: 361,721,856 - Float: 347,879,856
http://www.natesfoodco.com/investor-relations/
True. Lots of selling. Also what I've noticed is an unusually high amount of bids coming in that are ABOVE the last sell price. Folks "eager" to get in? But not eager enough to hit the ask? Interesting display of sentiment. Perhaps with V on 75, bulls are are keeping a distance but not turning their backs...
I'll admit, the benevolent bull can't make fast cash. This week is done imo. However interested in seeing this play out next week. Lots of obvious short term anticipation and long term sentiment. Averaged at 68, admittedly fun play here.
GL all
Good find today! Thanks for sharing the news!!
Wow! That MA test really angered the BULLS!
nice bullish bounce in L2 so far.
Is that what that sound has been last few days? LOL
GL.
Hello. It's easy for some to forget what and who in REACTION to daily pps imo.
Thomas Ichim is a humble leader in this field and is involved at a capacity that favors the science. And he is still here.
As such, so am I
:)
Good weekend to all
In at high 7s and 80. Honestly didn't expect it to hit 01 by EOD, but WHAT A STRONG CLOSE!
It's holding moving averages well and has a good story moving close to deals...I don't need to repeat all the good news, we all know :)
Great to have accumulated today.
GL all!
Sounds about right! Thanks clay.
If this stays 6.15, and up,
Took profits and STILL went up!
Thanks RSII. If there is a pull back, I'll be back!
GL ALL!
$RSII --strong increase