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It makes no sense to debate an issue that stems from disinformation. Since you must have 'missed' the last press release I will give you one of the highlights:
Further reduction in operating costs
In Q4 management continued its push toward lower operating costs. Senior Management will be swapping approximately $4.8 million Series A 12% Preferred Shares into Series B 8% non convertible Preferred Shares. The net affect will be a savings of nearly $200,000 in interest annually. In addition management will move to a more project based compensation system whereby salaries are reduced on an annual basis in exchange for potential bonus payments based on projects reaching commercial operation. This better fits the Atlantic long-term business model and allows the company to match payables with receivables plus link management compensation to profitability rather than time. Together these restructuring moves will reduce annual expenses by nearly $600,000.
Repeating a lie does not make it true. Have you read and confirmed these points?
Year____Sales_________Net profit / loss
2010____$0___________-$2,700,000
2011____$0___________-$1,100,000
2012____$1,880,000____-$380,000
2013*___$2,760,000____-$308,000
*9 months Only
Any predictions for the full year 2013 or 2014?
Thankfully there is a large accumulated loss over the past 5 years. It is going to come in very handy to keep the income tax level to zero for a while making all the earnings available for reinvestment or cash dividends.
I bet you can't by much at .20 either.
Lol. That is hilarious.
And still you can't cover. Not enough shares to do so.
I have posted here numerous times that you can request the 2009 statement from the company. Not sure why you choose not to do so if you really want to see it.
As for the S1, I am pleased no public offering of free trading shares was done and they post poned it indefinitely. Why would you want to be diluted and have all kinds of new shares dumped into the market. The only people that would benefit would be someone who had a short position that they need to cover.
Ontario - 101 PV Portfolio
The portfolio commenced construction in September 2013 and has seen 2 projects completed and awaiting COD confirmation from the Ontario Power Authority. The balance are at various stages nearing completion. While we anticipated completing all 12 projects in 2013 regrettably scheduling delays with roofing companies and a roofing strike in the area set us back. The Portfolio is expected to be completed substantially if not completely in Q1 2014.
COD - Commercial Operation Date - is a significant milestone not just because it represents project completion but because it is also the stage at which all cost calculations are finalized and the Company's payables and receivables netted. Up to this point both payables and receivables escalate at each stage of construction. At COD a project is complete and payables/receivables are netted such that financial statements now reflect that the project is in the past rather than still ongoing.
The utility scale projects, comprising 12 commercial buildings in Mississauga and Brampton in Ontario, represent 1.582 MW AC and approximately 1.9 MW DC peak.
Ontario - 102 PV Portfolio
Notice to Proceed was obtained from the Ontario Power Authority in November and construction is being scheduled for Q1 on 130kW with the remaining megawatt expected to follow shortly.
These utility scale projects, comprising 4 large commercial installations in Mississauga and Milton in Ontario, represent 1.130 MW AC and approximately 1.35 MW DC peak.
According to the company they are making a gross profit of over $1,000,000 per MW. Pretty amazing. I cannot find another solar company making this kind of profit.
Saul, it is very simple to see the requirements. Why someone would keep trying to add confusion should make you question the motives. According to the OTCMarkets guidelines:
Fiscal Period End Date Report Type - Due Date
12/31/2013 Annual Report - 4/1/2014
Attorney Letter - 5/1/2014
Meaning like AWSL, who has a fiscal year end of Dec 31, they are required to report by April 1.
But look for yourself:
http://www.otcmarkets.com/learn/upgrade-otc-tier
However now it is being financed by sales receivables and 8% preferrers. The pipeline of sales vastly out ways the tiny payables and liabilities.
We also all know the reason there is no buying. DTC lock..
Man I haven't laughed like this since the old.. " they will never get a contract", They will never have sales"… etc.
According to the company and to OTCMarkets AWSL fiscal year end is Dec 31. So based on your post you are suggesting they will file 15 days after the period end date. lol. That is wishful thinking. It is due by the 1st of April.
As for your comments of no one buying including management, we all (except you I guess( know that no one can buy right now, nor have been able to since late October because of the DTC issue.
But thanks for your predictions. We have seen how well your past gems have panned out. lol
Spin it whatever way you like. From $2,700,000 in losses to $350,000 and the company is at break even or making money now. Regardless how you want to pick this apart, this is great news.
I can't wait for the next report. Can't wait to see how you will tell us making money is really bad also.
If you are going to put this effort in to this why not take a short position if you think it is "insolvent"?
With Q4’s revenues, plus the Q1 revenues from the projects in their final stages, and the cost reductions mentioned above Atlantic anticipates the elimination of losses imminently. With losses steadily decreasing from 2009s loss of nearly $2.7 million to 2012’s loss of less than $350 thousand Atlantic, in a turnaround that would be seen as swift in most markets, expects to report profits in the very near future.
Remember...
Thanks for the detailed post. First for the record, I did not intend this board to be about sub .05 stocks. I agree under .05 is BVRY dangerous to be shorting.
AWSL was not SEC reporting. They issued the dividend to squeeze the shorts as they were under heavy attack. How do I know it was naked shorting? 8 months of RegSho compliance alerts. 1 day alone there was over 1 million shares shorted. They were short more than the float. We did find out that shareholders once they demanded that there stock not be lent out and some even took certificate delivery, it took more than 4 months to get the cert.
I remember Tim Sykes putting out news about how the restricted stock dividend was cause for the stock run up again. The well known short manipulators at thestreetsweeper also complained about it. They then attacked the company with articles of innuendoes but no real facts, but masses get manipulated easily by media, images and that sort of writing.
I know of a company that is about to do some massive awareness. If the short games start as I am sure they will, I will see if I can get them to try to Cusip trick. I will keep you posted.
If people cannot buy stock with the DTC Chill in place do you thick it will go up? Just asking.
As I said earlier today. The DTC issue is being addressed as I type this.
Not correct. The interest is booked as an expense. Second the number of preferred shares is being reduced monthly now.
Finally and most importantly, if the company has made gross profits of over $1,000,000 per MW, given they have not even completed the FIT 1.0 projects (2.7+ MW) and they have over 50 MW's of contracts in place, I am not concerned with this number in the slightest.
My prediction is the preferrers will be retired or at least significantly retired this year. With the reduction in operating cost I see a very profitable 2014. With the accumulated loss over the years all these profits will remain with the company and shareholders, not having to be paid in income tax.
I predict 2015 to be even better than 2014.
Well in fact my example. AWSL did do the same thing you suggested to offset the naked short abuse. The issued a restricted stock dividend. Twice. Each time when it was announced and when it neared the record date, the stock went back up dramatically.
The Cusip trick I do not believe works. But I have not tried it to be honest.
So are you a market maker or do you just represent one?
With Q4’s revenues, plus the Q1 revenues from the projects in their final stages, and the cost reductions mentioned above Atlantic anticipates the elimination of losses imminently. With losses steadily decreasing from 2009s loss of nearly $2.7 million to 2012’s loss of less than $350 thousand Atlantic, in a turnaround that would be seen as swift in most markets, expects to report profits in the very near future.
Happy to answer.
1. We can all agree that the swap of the 12% preferred shares for the 8% preferred shares benefits the shareholders and that is a positive thing for AWSL. The 12% shares were due for retirement on December 31, 2018. Are the 8% shares similarly redeemable or is this intended to be "permanent" equity financing?
These are new 5 years shares. However AWSL has the right to redeem at any time without penalty.
2. Do we agree that preferred dividends (interest) on the preferred shares are NOT paid in cash and that the expense for these preferred shares does NOT show show on the statement of operations? In fact, the dividends have been charged directly to Accumulated Deficit.
No we do not agree. While in the past to meet the cashflo short falls interest was paid with new preferred shares, I understand the company is now making these payments in cash. In whole or in part. We will see in the next month or two in the year end statements the exact number.
3. If the restructuring of the executive compensation is intended to yield a saving of $400,000 per year in operating expenses, will these savings be net of performance bonuses paid and chargeable to the cost of good sold? Are the executives currently being paid in cash or is that liability a part of the ballooning payables and accrued liabilities on the Company's balance sheet?
Is this meant to be a trick question? There is NO "ballooning payables". The payables have been growing in line with the receivables. I believe the company was very clear that COD would net the payables and receivables. Further unpaid salaries have been converted to preferred shares. As I stated already, interest is now being paid and the salaries are if not already being paid in whole or in part.
4. What was the aggregate cost of executive compensation for 2013? How much of that compensation was paid in cash?
Since you claim to do a detailed review of the statements I will let you determine this.
5. Have receivables and payables started to decline yet since the end of Q3-2013 -- $3.3 and $3.5 million, respectively? While I can understand that an insolvent company can't pay its bills if it can't collect its receivables, how do AWSL subcontractors and suppliers survive while they wait to be paid?
Did you not read the PR? Let me paste how it was addressed in the PR. In short all trade payables and receivables are know to be paid and netted at COD. This company is very much solvent. I think you are abut to see it is thriving.
COD - Commercial Operation Date - is a significant milestone not just because it represents project completion but because it is also the stage at which all cost calculations are finalized and the Company’s payables and receivables netted. Up to this point both payables and receivables escalate at each stage of construction. At COD a project is complete and payables/receivables are netted such that financial statements now reflect that the project is in the past rather than still ongoing.
According to the company and to OTCMarkets.com the guidelines are that it is filed by April 1. So you can stayed glued on January 15 waiting for the report to be filed almost 3 months early. Have fun.
http://www.otcmarkets.com/learn/upgrade-otc-tier
I just looked at your posts on the other boards. In my sampling it appears you generally are pointing out flaws in every company and I would even speculate to say you appear to be a short seller pro. Perhaps a pro trader, likely even a market maker or representing one. Given this insight it make sense why you keep referring to the naked shorting as an urban myth.
Perhaps I am wrong but I would bet on it.
Further reduction in operating costs
In Q4 management continued its push toward lower operating costs. Senior Management will be swapping approximately $4.8 million Series A 12% Preferred Shares into Series B 8% non convertible Preferred Shares. The net affect will be a savings of nearly $200,000 in interest annually. In addition management will move to a more project based compensation system whereby salaries are reduced on an annual basis in exchange for potential bonus payments based on projects reaching commercial operation. This better fits the Atlantic long-term business model and allows the company to match payables with receivables plus link management compensation to profitability rather than time. Together these restructuring moves will reduce annual expense by nearly $600,000.
I don't really trade in sub .05 stock. However the market maker shorting usually is for a short 3 days or less trade. However, what I have witnessed is some times when a big promotion starts they figure they can short and buy it back within a few days. Fairly innocent. But if the sell off that usually comes, does not come, well than they get desperate. Especially if the market is movie up.
In these situations they drag it out, they get a friendly market maker to sell them stock (short) to cover it and than start again. They keep rolling it around a number of friendly firms. I assure you this happens. There is even a term for this. "Parking a trade".
I watched on AWSL Reg SHO failed to deliver flags for 8 months during a long promo. The market maker would do as I described above, while than trying to discredit the company in every way possible.
I seen this very closely!
If you need more examples there out there.
Don't get me wrong, I wish it was easier for retail investors to short penny stocks. There are a number of them that warrant it.
It is the inside, big boys club where they seem to have all the a rules in there favor. This is the real problem,. Naked shorts allowed as long as they can say they are just trying to make a market. Watch CSTI and other well known shorting market makers. I have seen them "make markets providing liquidity" aka known as naked shorting pushing a stock way down in value, trading more shares than are even issued by the company. The stacking the offers, low offers, etc. to make it look like a massive sell off is underway, even if there isn't one. Again many pumps do have big real sell offs. But when they don't the market makers do it anyway. That is my problem with it.
You might want to get on the Buyins.net mailing list or watch the web site. They have often exposed naked shorting and had it lead to a short squeeze. Mind you it is mostly for larger stocks. But I have seen it on some penny stocks also.
Maybe you will be right. Or maybe this will be another "They will never get a contract".
But at least you now agree it is real. Remember when "they paid" to have a picture taken with the President of the National Assembly".
But regarding the time frame. It is almost a year since they signed the agreement. So in my opinion they will now be entering into a phase where this is not reliant on the country. More ob there own ability to get it done or not in a timely manner.
"like you stated"? What does that disclosure have to do with anything? Of course they can buy and sell. Of course issuers pay a service to keep track of the data. Are you implying that they are now going to give false information or colour the information?
Anyone who may potentially buy and sell stock based on information they have and will publish reports publicly has to have a disclosure.
But I guess thanks for the disclosure. Perhaps you can put up the AWSL PR disclosure again also. Thanks for the dedication.
Regarding AWSL short position of over 2,400,000 shares I think you might want to take a closer look at Buyins,net. They are VERY clear that they do not give recommendations or provide thoughts or expectations. They simply report the source data from regulators, add the data up and figure out short squeeze trigger levels.
Ecuador Phase One 20 MW AC / 25 DC
Atlantic submitted the final utility scale system design to CONELEC in early December and awaits final notice to proceed. Land preparation is scheduled for January 2014 with the project expected to be commercially operating by Dec 31, 2014.
According to Atlantic, they have been making over $1,000,000 per MW. Boy oh boy, do I hope they make the same kind of money on the Ecuador projects.
Funny BBW, I don't recall the last time I haired any longs talking about shorts on this. However thanks for pointing out that there was no shorting done during all the near zero, and zero volume days.
But since you bring it up, do you think the 2.1 million shares that were reported to be shorted according to buyins.net (with all data coming from sources such as: NASDAQ, FINRA, SEC, OTCMarkets etc.) were bought back and covered during the low volume days?
WHile I am not taking a position as to whether there is a short position or not, my math states that if the Buyins.net report was correct than mathematically it is impossible for the position to have been covered. Could games be played to park the short position from member firm to firm. Perhaps, but maybe it is all wrong and there is no short position.
It is interesting to see since late OCT for most and since Nov 8 for essentially all, no one can BUY stock. Just sell. WHen I see strange things like this I always ask myself who can this benefit?
But the funny thing is even in this scenario (that is being addressed by management) lets look at how much selling has come in in the past few days.
Today 10 shares= $1.10
Yesterday 17 shares = $1.87
I agree with Wonky. While some might search hard for a fault...
"As long as I can say, every year, "better than last year", I'm good. Go, GT"."
A $1.10 sell off. Yes folks the market was hit with 10 shares this morning.
Recent Trades - All 1 today
Time ET Ex Price Change Volume
09:30:11 Q 0.11 10
As you can see by looking at OTCMarkets.com, (the source for OTC trade information), there was no drop in trading. It has been at .11 for a number of days. You should also be aware by now that the DTC Global chill / lock has been in place making it near impossible to buy shares. This is why there has been no volume.
But incredibly a 17 share trade slipped through. Yes $1.87.
If you see todays news as anything but positive, please shed some light on this. I would love to hear your perspective. But if it is to point at that share price, we can already see it and know why.
Thanks Red.
http://www.otcmarkets.com/stock/AWSL/quote
Congratulations to all shareholders as it appears AWSL is braking even or about to record earnings.
Nice big sale today at .11. A whopping 17 shares for a grand total of $1.87. Commission are more than that!
I am with you Sinful. The news is great.
I find it most interesting how much it was harped about the negative affect of the 12% Preferred shares over the past 7 months and how 'bad' they were on the balance sheet, how fast the interest will accumulate, but now, after they reduced / retired them for 8% shares instead… Well now it is "slight of hand" and it makes no difference.
Did you not recall reading over and over about the "accumulated losses" etc. Well now that it is being addressed, I guess it wasn't important.
"down" "on zero volume"? How can it be down if it did not trade? LOL.
Atlantic Wind & Solar Inc. - A Report on 2013 and Changes for 2013/2014
Atlantic Wind and Solar Inc. -Tuesday , Jan 7, 2014 (OTC: AWSL) is pleased to announce the following update including progress reports and news of further cost reductions to enhance shareholder value.
Ontario- 101 PV Portfolio
The portfolio commenced construction in September 2013 and has seen 2 projects completed and awaiting COD confirmation from the Ontario Power Authority. The balance are at various stages nearing completion. While we anticipated completing all 12 projects in 2013 regrettably scheduling delays with roofing companies and a roofing strike in the area set us back. The Portfolio is expected to be completed substantially if not completely in Q1 2014.
COD - Commercial Operation Date - is a significant milestone not just because it represents project completion but because it is also the stage at which all cost calculations are finalized and the Company's payables and receivables netted. Up to this point both payables and receivables escalate at each stage of construction. At COD a project is complete and payables/receivables are netted such that financial statements now reflect that the project is in the past rather than still ongoing.
The utility scale projects, comprising 12 commercial buildings in Mississauga and Brampton in Ontario, represent 1.582 MW AC and approximately 1.9 MW DC peak.
Ontario - 102 PV Portfolio
Notice to Proceed was obtained from the Ontario Power Authority in November and construction is being scheduled for Q1 on 130kW with the remaining megawatt expected to follow shortly.
These utility scale projects, comprising 4 large commercial installations in Mississauga and Milton in Ontario, represent 1.130 MW AC and approximately 1.35 MW DC peak.
Ecuador Phase One 20 MW AC / 25 DC
Atlantic submitted the final utility scale system design to CONELEC in early December and awaits final notice to proceed. Land preparation is scheduled for January 2014 with the project expected to be commercially operating by Dec 31, 2014.
Further reduction in operating costs
In Q4 management continued its push toward lower operating costs. Senior Management will be swapping approximately $4.8 million Series A 12% Preferred Shares into Series B 8% non convertible Preferred Shares. The net affect will be a savings of nearly $200,000 in interest annually. In addition management will move to a more project based compensation system whereby salaries are reduced on an annual basis in exchange for potential bonus payments based on projects reaching commercial operation. This better fits the Atlantic long-term business model and allows the company to match payables with receivables plus link management compensation to profitability rather than time. Together these restructuring moves will reduce annual expenses by nearly $600,000.
Back in Black
With Q4's revenues, plus the Q1 revenues from the projects in their final stages, and the cost reductions mentioned above Atlantic anticipates the elimination of losses imminently. With losses steadily decreasing from 2009s loss of nearly $2.7 million to 2012's loss of less than $350 thousand Atlantic, in a turnaround that would be seen as swift in most markets, expects to report profits in the very near future.
Atlantic's additional pipeline in Ontario
The Company continues to secure new projects in Ontario and taking steps to make further applications into the OPA FIT program.
About Atlantic Wind and Solar Inc:
Atlantic is a developer of utility scale renewable energy plants. With over 350 MW's of projects at various stages of development in Canada, South America and the Caribbean.
For more information and/or to subscribe for regular news updates from Atlantic Wind & Solar visit: www.atlanticwindandsolar.com
Nothing has changed? 4 years ago the company had no sales and a loss of $2.7 million. Today the company has over $3,000m000 in sales and only $300,000 loss. I look forward to the year end statements more than you do, I assure you.
The biggest problem with the current government is that is being run by the private bank called the Federal Reserve. The Federal Reserve is as Feral as Federal Express. Now guess who runs DTCC? That is right, the same group that is above the law, the ones who can print as much money as they want to whom they want can do the same with DTC. That is why select people can seem to borrow more stock than is in circulation.
I think you are not looking at the big picture. This is not about brokers shorting. Perhaps they might a little. But the real shorts are MUCH much bigger. With friends in high places. That is why when a short trade foes bad enough they can get DTC locks or a company suspended from trading or get the big media to run smear campaigns.
I guess you missed me mentioning it 20 times or so already, AWSL is not due to file until the end of March.
Speaking of the financials.
Will the 2013 year end financial statements ...
1. Continued to show year over year growth of over 100%?
2. Will the 5 year trend of expense / cost reduction continue?
3. Will the AWSL profit margins continue to beat other solar companies in the sector such as Canadian Solar, LDK, Sun Edison, and Suntech?
4. Will sales production per employee continue to dominate all publicly traded solar companies?
5. Will AWSL continue on its 4+ years of no dilution to shareholders?
6. With years of losses (mostly from AWSL's predecessor which gives the current negative book value ) be utilized as tax loss carry forwards which allow the company to book earnings without having to pay taxes, making these funds available for dividends or re-investment or even stock buy backs?
7 Will the account receivable still be in line with the accounts payable?
8. With the company's gross profits of over $1,000,000 per MW continue? Given the company's over 50 MW project in South America, this could equate to a dollar or so in earnings per share!
I too am very excited to see the next financial statement. I trust we will be impressed once again.