Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
good luck
This is reasonable.
Shareholders will approve.
I'm still sticking to my longstanding prediction of .25 by Q2 2016
Chan listened to his shareholders and revised the proposal accordingly. Clay is right, this company is going somewhere.
Agreed. I am very optimistic.
I agree that RS is most often a desperate measure and it hardly ever achieves anything good. Andalay is not in a position to trade on the big exchange at this point. That being said, I agree with Mad that they probably will not need one. We'll see soon enough.
Soft cost reduction is where it's at. Solar is at .5% market penetration. There is room for growth for all players. The success of each solar company will assist the success of the others until there is much larger market saturation.
Great news for Andalay. Spice acknowledges the leaders in the field, Andalay and Zep. More positive exposure for the concept does everyone in the field good. So many people do not understand how the adoption of new technology works. It's interesting that Auxin is building Andalay and Spice panels.
I've been following SolarCity for a while now. It would seem they are following the same path as Westinghouse Solar only on a larger scale. They have the billionaire behind them so the strategy may pay off in the end.
from an earlier post.
The one decision that ultimately brought this company down was the decision to expand in 2007, 2008.
" Total operating expenses for the first quarter of 2008 were $7.1 million compared to $2.4 million for the same period last year and $6.5 million in the fourth quarter of 2007. Compared to the first quarter of 2007, the $4.7 million variance consisted of $3.1 million in compensation expense of which $937,000 was non-cash stock-based compensation expense. The balance of the increase was primarily due to costs associated with having ten offices this year compared to three offices in the first quarter of 2007. The $674,000 variance from the fourth quarter of 2007 was primarily due to Andalay installation training, labor costs associated with weather interruptions and insurance costs.
Net loss for the first quarter of 2008 was $4.6 million, or $0.16 per share"
The losses mounted every year until they had no choice but to seek a merger.
Gross profit has gone from negative to positive, and is growing each quarter since the change in management. Losses are decreasing. Nothing before 2014 matters at this point unless you know the company history. They were cut off from suppliers, no inventory, failed merger, lost their chief exec., etc. etc. But they did not go BK. The share price reflects the collapse, not the revival. Let's talk about this after the Q4/annual report.
yearly revenue
2009 1,992,261
2010 8,653,390
2011 11,429,383
2012 5,222,248
2013 1,124,836
2014
Q1 142,482
Q2 306,919
Q3 605,943
looks like revenue from 3 quarters 2014 is more than 2009 revenue.
The stock was worth $2 a share in 2009 and .02 in 2015.
New management is turning around a company that lost almost
100 million dollars before 2010. the total debt and share count is pretty good considering the complete collapse that happened.
I guess I wasn't clear on my last post. The massive dilution yesterday amounted to .25% of the total share count. Please everyone do your own math and make your own decisions.
True, today's dump was .0026 of total shares. That's massive.
with more licensing news it will hold. With typical drought of news following quarterlies it will drop under pressure of profit taking and shorting. There is going to be a big dump of shares somewhere near there or sooner. We shall see.
Revenue up again, gross profit up again, current price reflects a lot of artificial pressure to drive it down. I think .06 is reasonable.
current spread .0001, .7%
800,000 sold over opening price in under 2 minutes
Andalay is the innovator and leader in rackless systems. They have more than 4000 systems installed. The system is mature and the bugs are worked out. They are now the lead independent rackless system manufacturer.
Anybody who owns Andalay stock might lose it all. That is true. But 20% dilution, or 100% dilution for that matter will not be the cause. The success of the stock is directly proportional to the ability of Chan and Kwok to execute their product sales plan.
Not exactly sure what the multiplier for calculating the registration fee has to do with the future share price.
(2) Estimated in accordance with Rule 457(c) of the Securities Act of 1933 solely for the purpose of computing the amount of the registration fee based on the closing price of our common stock on December 5, 2014
(3) Calculated under Section 6(b) of the Securities Act of 1933 as $0.0001162 of the aggregate offering price.
or $0.0001162 X 1,521,500 = 176.80
(fee of 176.80)
Proposed maximum
offering price per
share (2) .0179
It appears that yes, this is the OTC and the only thing you can trust is your own DD.
We all know about the dilution. The deal with southridge is not toxic financing, it is merely dilution. Andalay is in full control of when and how many shares are released. Par value means nothing. It is not tied to the share value in any way. Southridge pays for shares they receive when they receive them at a 10% discount.
what we do know is that most of those companies were using zep compatible panels prior to the litigation. It's an impressive list but is not an all inclusive list of pv manufacturers.
What we don't know is the terms of the settlement reached in 2012.
Westinghouse Solar Inc. (Nasdaq: WEST) and Zep Solar Inc. announced a final and comprehensive settlement of their multi-year legal disputes on May 31. The settlement resulted in the dismissal of all federal court actions and the U.S. International Trade Commission (ITC) case. The specific terms of the global settlement are confidential.
The settlement extends to all customers, suppliers, and licensees of both Westinghouse Solar and Zep Solar who were named in one or more of the proceedings.
short interest jumped to 61% on Friday. hmmm
The one decision that ultimately brought this company down was the decision to expand in 2007, 2008.
" Total operating expenses for the first quarter of 2008 were $7.1 million compared to $2.4 million for the same period last year and $6.5 million in the fourth quarter of 2007. Compared to the first quarter of 2007, the $4.7 million variance consisted of $3.1 million in compensation expense of which $937,000 was non-cash stock-based compensation expense. The balance of the increase was primarily due to costs associated with having ten offices this year compared to three offices in the first quarter of 2007. The $674,000 variance from the fourth quarter of 2007 was primarily due to Andalay installation training, labor costs associated with weather interruptions and insurance costs.
Net loss for the first quarter of 2008 was $4.6 million, or $0.16 per share"
The losses mounted every year until they had no choice but to seek a merger.
As of Sept. 2012 (which is after the departure of Barry) the 8 remaining executives and board members owned 3.8% of stock. CBD owned 7.9%.
Before his departure in 2012 Barry still held more stock than any other person or entity, but it was less than before. Appears to me like he opposed the merger, left the company, cashed in his shares at about .25, and by the end of the year the stock was at .05.
From the annual report filed in March 2012
Our Chief Executive Officer, Barry Cinnamon, beneficially owns a significant number of shares of our common stock, which gives him significant influence over decisions on which our stockholders may vote and which may discourage an acquisition of the Company.
Barry Cinnamon, our Chief Executive Officer, beneficially owns, in the aggregate, approximately 11.4% of our outstanding common stock as of March 15, 2012. The interests of our Chief Executive Officer may differ from the interests of other stockholders. As a result, Mr. Cinnamon’s voting power may have a significant influence on the outcome of virtually all corporate actions requiring stockholder approval, irrespective of how our other stockholders may vote, including the following actions:
· election of our directors;
· the amendment of our Certificate of Incorporation or By-laws; and
· the merger of our company or the sale of our assets or other corporate transaction.
Mr. Cinnamon’s stock ownership may discourage a potential acquirer from seeking to acquire shares of our common stock or otherwise attempting to obtain control of our company, which in turn could reduce our stock price or prevent our stockholders from realizing a premium over our stock price.
It would seem that your entire argument rests on the quality of the leadership team that you say is the same that drove the company into the ground.
One man owned 56.5 times as many voting shares as all the other board members and executives combined until his departure in 2012. This man had total control. It was his business to do what he wanted. The other BOD were advisers at most. During the final four years of his control the company lost 44 million dollars. The accumulated deficit for his entire control was right at 80 million dollars. When he left he dumped his shares and cratered the stock price. This is the person responsible for the collapse of this company, not the board that inherited his mess. Randazzo was not the correct one to lead them out of this trouble, that's why the hired Chan. Chan has the con now and is calling the shots. He has this company on the track to recovery. That is a fact. In his first full quarter Debts are being paid down, suppliers are back on board, YOY revenue and gross profit are increasing and a new sales force is being built. Patents have been granted, and licenses are being sold. Sounds like the board finally did the right thing. What exactly were they supposed to do? What problem is bothering you so much? The failed merger? The RS? The financing held the company together until a new direction could be planned and executed.
that's what I was thinking
It hasn't been decided.
Since the start of litigation Andalay has recieved new patents.
So now we know Anyone telling you that Andalay lost that suit is making up his facts.
this is what happened to the patent suit between Akeena/Andalay and Zep
Pursuant to 28 U.S.C. § 1659(a), this Court HEREBY ORDERS that this case is supplementally stayed pending disposition of the United States International Trade Commission Proceedings styled In the Matter of Certain Integrated Solar Power Systems And Components Thereof, Investigation No. 337-TA-811. The Court hereby vacates its requirement that the parties provide status reports every four months. The parties shall provide status reports every six months, so that the Court may keep track of the progress of all proceedings.
IT IS SO ORDERED.
Dilution from the southridge deal appears to be about 2% at this point. There is no need to panic. Southridge has to sell the shares for more than they buy them For in order to make money. I guarantee that they will not sell shares for .0001 if they buy them for .015. These are common stock not convertible preferred shares. There is no incentive for andalay or southridge to drive the share price down.
imo you have not read the agreement between Southridge and Andalay.
Southridge does not have any more shares than are released at the discretion of Andalay. Southridge pays for the shares they get at the time they get them. The total dilution if and when all of the shares are released is about 35%.
Under the December Equity Purchase Agreement, the purchase price of the shares to be sold to Southridge will be at a price equal to 90% of the lowest closing bid price during the Valuation Period. The table below illustrates an issuance of shares of common stock to Southridge under the December Equity Purchase Agreement for a hypothetical draw down amount of $50,000, assuming the lowest closing bid price during the Valuation Period of $0.0179 per share.
Draw Down
Amount
Price to be Paid by
Southridge 45,000
Number of
Shares
to be Issued 2,513,966
Randazzo owns more shares than any other director except Chan. She sold about 35% of her shares when she lost her job as CEO. She is still a director.
Chan owns more shares than any other director. It looks like he just bought some shares.
Your respectable opinion is welcome.
We disagree. So be it.
Good luck
original board of directors
Name
Barry Cinnamon
President, Chief Executive Officer, Secretary, Treasurer and Director
David Wallace
Chief Financial Officer
Edward Roffman
Director
George Lauro
Director
Jon Witkin
Director
At that time the directors and executives owned 34.5% of voting stock. Of that Barry owned 33.9%. Barry was calling the shots with a board of directors that was completely at his mercy.
2011 board
Barry Cinnamon, Ed Roffman, Jon Witkin, Ed Bernstein, Gary Effren, and Ron Kenedi.
The addition of Ron Kenedi gave the board a real solar pro.
Current board
Steven Chan
President, Chief Executive Officer, Interim Chief Financial Officer, Treasurer, Secretary and Director
Wei-Tai Kwok
Chief Operating Officer
Edward L. Bernstein
Director
Mark L. Kalow
Chairman of the Board of Directors
Ron Kenedi
Director
Margaret Randazzo
Director
Edward Roffman
Director
As of January 20, 2015 the entire board owns 2.7% of shares.
When their contracts are fulfilled Chan and Kwok will own about 10%
The directors recieve a total for all of 18,000 per year for their board duties. That's $12,000 for Kalow and $6000 for Rothman
Things have changed.
the current contract is to buy for 90% of 10 day average.
Their technology is still cutting edge and far from obsolete.
Yes, by golly, we know about the judgements and debt.
I understand and am betting that things have changed. The tap of tens of millions of dollars has dried up. They have no choice but to perform. The new management (Chan, Kwok) have every incentive to turn it around. Sorry you lost money in it. I know how that feels.
I watched it when it came out. The spice system is almost an Andalay system except the panels are joined with an external aluminum splice instead of an internal bolt.
I'm just curious. I read it the other way. Barry was in charge for all those years they lost everybody's money. Only someone close to the company would know for sure. Aggressive patent litigation, high dollar branding contracts, expansion to multiple cities all cost lots of money. Sounds like there was some real hard feelings and I bet Barry's story is opposite of the BOD.
Do you know this for sure or are you guessing what happened?
We know its true that Barry dumped a huge amount of shares in June 2012.
We know Barry got a 350000 stock option in Feb. 2011
We know that losses in 2010 and 2009 were a whopping $12,924,078 and 15,844,862. Which is a continuation of multi-million dollar losses.
On September 10, 2010, we announced that we were expanding our distribution business to include sales of our Westinghouse Solar Power Systems directly to dealers in California, and that we were exiting the solar panel installation business. We had already transitioned over the last year to a design and manufacturing business model with a distribution network in other parts of the United States and in Canada, and we believe we can improve our business results and significantly reduce our expenses by focusing exclusively on our lower overhead design and manufacturing business.
The success of our business depends on the continuing contributions of Barry Cinnamon and other key personnel who may terminate their employment with us at any time, and we will need to hire additional qualified personnel.
And from a prospectus in 2008
Barry Cinnamon, our Chief Executive Officer, beneficially owns, in the aggregate, approximately 28.5% of our outstanding common stock. The interests of our Chief Executive Officer may differ from the interests of other stockholders. As a result, Mr. Cinnamon will have the ability to significantly impact virtually all corporate actions requiring stockholder approval, vote, including the following actions:
·
election of our directors;
·
the amendment of our Certificate of Incorporation or By-laws;
·
the merger of our company or the sale of our assets or other corporate transaction; and
·
controlling the outcome of any other matter submitted to the stockholders for vote.
Mr. Cinnamon’s stock ownership may discourage a potential acquirer from seeking to acquire shares of our common stock or otherwise attempting to obtain control of our company, which in turn could reduce our stock price or prevent our stockholders from realizing a premium over our stock price.
My response to Swimmer was from the point of view of Andalay's customer base. And yes they are.