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The June 30, 2013 statements clearly state for the 6 months ending. They do not state otherwise.
So again the last 3 months sales almost equate to the previous 2 quarters combined.
Re: Accounts Payable (AP) & Accounts Receivable (AR) - the business is such that both payables and receivables accrue where possible until a project’s Commercial Operation Date (COD) at which point the receivable cash-flow pays the payable cash flow. Matching payables to receivables is a simple tool of working capital management.
Re: “Isn’t collecting its receivables” - as above, at COD the higher the AR the better.
Re: Balance Sheet/Cash - the company has never held excess cash balances (at 0% interest rates). This would be an absolute waste of resources.
Gilda I always enjoy your "spin'. Lets review real facts:
You State
"Revenues reported for Q2-2013 were $1,477,105. Revenues for Q3-2013 slipped to $1,280,492. This trend is not your friend."
You are telling is that Q3 sales dropped from the last reported number for the period ending June 30. What you neglect to inform readers is that the Q2 numbers you report also included Q1
So what you should have said is something more like. Incredibly the sales in Q3 2013 almost equaled the first two quarters combined.
Lets recap again:
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 sales
Correct. These sales plus the $1,880,000 in 2012 are for less than half of the 2.7 MW's of solar in Ontario.
In this $2,000,000 fine by the SEC on this trader for naked short selling must be an "urban legend" also.
http://www.sec.gov/news/press/2011/2011-264.htm
As we can see this manipulation continues. Until the market makers are no longer exempt to the anti naked short selling rules, these games will continue.
Naked short selling, or naked shorting, is the practice of short-selling a tradable asset of any kind without first borrowing the security or ensuring that the security can be borrowed, as is conventionally done in a short sale. When the seller does not obtain the shares within the required time frame, the result is known as a "failure to deliver". The transaction generally remains open until the shares are acquired by the seller, or the seller's broker settles the trade.
Short selling is used to anticipate a price fall, but exposes the seller to the risk of a price rise.
In 2008, the SEC banned what it called "abusive naked short selling"[2] in the United States, as well as some other jurisdictions, as a method of driving down share prices. Failing to deliver shares is legal under certain circumstances, and naked short selling is not per se illegal.[3][4][5] In the United States, naked short selling is covered by various SEC regulations which prohibit the practice.
Critics, including Overstock.com's Patrick M. Byrne, have advocated for stricter regulations against naked short selling. In 2005, "Regulation SHO" was enacted; requiring that broker-dealers have grounds to believe that shares will be available for a given stock transaction, and requiring that delivery take place within a limited time period.
As part of its response to the crisis in the North American markets in 2008, the SEC issued a temporary order restricting short-selling in the shares of 19 financial firms deemed systemically important, by reinforcing the penalties for failing to deliver the shares in time.[8] Effective September 18, 2008, amid claims that aggressive short selling had played a role in the failure of financial giant Lehman Brothers, the SEC extended and expanded the rules to remove exceptions and to cover all companies, including market makers.
Some commentators have contended that despite regulations, naked shorting is widespread and that the SEC regulations are poorly enforced. Its critics have contended that the practice is susceptible to abuse, can be damaging to targeted companies struggling to raise capital, and has led to numerous bankruptcies.[6][10] However, other commentators have said that the naked shorting issue is a "devil theory",[11] not a bona fide market issue and a waste of regulatory resources.
Atlantic Wind & Solar reports $2,760,000 in sales for 1st 9 months of 2013.
Sales up. Losses almost eliminated.
Less Preferred shares issued.
On track to doubling 2012 sales.
Management at Atlantic is very pleased with the three months covered by the attached financial statements. The company continues to trend towards increased profitability.
Assets increased to over $3.7 million in Q3 versus $1.5 million for the full year of 2012. Liabilities, of course, increased also as both receivables and payables moved along the curve of construction.
The year on year increase in revenue is over $1 million for the third quarter of 2013 versus 2012 with the margin up to 554,000 from 431,000 or +28%.
And expenses continue to remain manageable.
These sales are in regards to the middle phase of less than half of of the Ontario F-I-T 1.0 (2.7 MW) projects. The balance of these projects are expected to begin in Q1 of 2014. Atlantic’s projects in Ecuador have yet to be included.
Stock dilution in Q3 was 0%, which is to say that no new shares were issued, as has been policy for the past few years.
Management very much looks forward to the remaining months of 2013 and the annual report to follow.
While I agree this "baby" has been growing at an incredible rate, it still has 20 years or so of incredible growth ahead. I guess we will see in the next couple days if I am right and they are still growing.
The wonderful thing about a "baby" is they tend to grow very fast.
An unexpected filing coming. Nice to see they are increasing the filing / reporting frequency! Gilda, you thought we would have to wait until next July to see a report. Is this good or bad news to you?
It looks like Christmas is going to come early for you Gilda! AWSL is going to file a 3rd quarter report despite them initially reporting on OTCMarkets that they are filing semi annual.
http://www.otcmarkets.com/stock/AWSL/filings
Here is some pictures from Atlantic's solar installations.
http://atlanticwindandsolar.com/news-74.html
Yes.
Sales
2012 sales: $1,880,000
2013 5 months $1,500,000
Losses dropped from $2,700,000 in 2010 to $180,000. According to the financials the company expects profitability in 2013.
The office is at 2 Bloor St E. Suite 3500. It is shared space. Looks great and about $6,000 a month cheaper.
Portfolio 101 of 12 projects is under construction. A few are built awaiting COD confirmation from the OPA. We expect a more detailed update any day.
Atlantic secured another 320 KW project under FIT 2.1 according to the OPA site. Not sure if they have deals under other company names.
We expect new shortly on the Ecuador 50 MW's of approved projects.
You "don't give a rat's a$$ either way" but you called them to confirm this and reported it to us?
I disagree. However we will see tomorrow and if I am wrong I will be the first to apologize.
I hate to burst your bubble, but the company reports semi annual. The statements are current until Dec 31.
http://www.otcmarkets.com/stock/AWSL/company-info
You know more than anyone, since you have mentioned it for over 4 years that the stock traded up to $4.84 on plenty of news and promotion.
The new CEO was clear this practice of issuing news early on deals was not going to continue. Only once a deal is complete and cannot be interfered with, is when the company will issue news. There also has been no promotion, advertising or awareness done. I think under this new management the focus is on building cash-flow and projects. The stock will follow when cash dividends flow.
Aug 1 is when the June 30, - 6 months ending financial, bringing it current, was published. But if you call that 60 days ago, who am I to disagree.
I agree that market makers can naked short stock. But the 3 day issue is the easiest to get around. They simple transfer the position back and forth from one MM to another. As little as 2 MM's are required. Often there is 3 or 4. This is why there has been names for groups of market makers that gang up on penny stock. The rat pack is pretty notorious.
Once people start to notice what they are doing they will run the orders through other market makers. So people see trade, or UBSS or AUTO up there instead.
You can google market maker fined for naked shorting or other search strings. Many fines have been dolled out. SOme small firms even went under.
I do not think anyone can answer this. It resembles a "big boys club" or "insiders" of DTCC or other clearing agents that purposely fail to report there naked short trades or looks the other way while someone else does.
YOu will tend to know there is a large naked short position when you see people spending enormous amounts of time trying to discredit the company. Trying to find false stories innuendoes etc. all pointing to "think twice about buying or holding this stock".
Here is a great site to do some reading on how bad the abuse is: http://www.deepcapture.com/the-story-of-deep-capture-by-mark-mitchell/
Here is a video where a well known Short Seller (some association to the Streetsweeper) admits how he and others do this short and distort: http://www.wimp.com/manipulatingmarket/
Watch the body language of the interviewer when Jim says "it's legal"! Note how Jim says "feed some bozo reporter some false news for them to write on the company. Or call a bunch of traders to start false rummers than buy some 'puts" that are signs that someone thinks the market is going to go down,.
Again thank you for going back through 4 years of posts to find that one. I believe that member has not been on this forum for 3 or 4 years now.
The over 3 year old PR's that the old CEO put out must be useful again now I assume?
Thanks, but I will stick to the current information. The current filings and news. But thanks. That must have taken some time too find.
But at least the company did come through and uplist the trading status. From "Stop, No Information" to "Limited Information" to "Current"
This period of lack of statements was addressed with the changing of the CEO. It was clear that bringing in Cousin as a president did not work. Once this was addressed sales commenced, expenses cut and the company brought all of its filings current. Where it remains for the past 4 months.
During this time the company also secured over50 MW's of new APPROVED projects. Up from a total of zero MW's in the cousin days.
Projects have been built and many more are under construction.
Additionally, the sales went from $0 to $1,888,000 in 2012 and $1,500,000 for the first 6 months of 2013. Losses dropped from $2,700,000 in 2009 to $180,000. The company is clearly on mark to profitability if they are not right now. WHich I believe them to be.
According to management, management salaries are now starting to be paid. No pref shares and no deferred.
This progress cannot be looked at any other way than that of an incredible turn around. We are fortunate that management was willing to not be paid for over 4 years during the building of this company.
The 2013 year end statement is expected to be filed on or before January 15, 2014.
So wether the stock trades 100 shares or 100 million shares I do not care. I am waiting to see the positive affect of the 2013 year end statements.
These sales and sales potential far outperform any other penny stock I hold or have invested in. I am very happy with my investment.
By "60 days", you mean 4 months. But no need to split hairs.
As I stated in my previous post, management is very clear that they are again going to exceed the previous periods results. No longer are non convertible Preferred shares being issued in lieu of salary. That seems like a very good sign to me.
"just when the company was current with its financials"? I believe we have been speaking about the fact the company has been current since Aug 1. It is now November 11.
Regarding profitability:
Sales / Profitability
2009 Loss of $2,700,000 on $0 sales
2010 Loss of $1,100,000 on $0 sales
2012 Loss of $300,000 on $1,888,000 in sales
2013 (6 months) loss of $180,000 on sales of $1,500,000
According to management, the company is expected to beat all previous numbers in top and bottom line sales.
So yes, that sounds like they are profitable.
I am not sure why the focus is on something from years ago. The company is current and filed the last report within 30 days of the period end.
The company continues to be current on all its filings.
The statements for the period ending June 30, 2013, were filed in a timely fashion on Aug 1, 2013. This has put the company in the highest Tier possible. "Current", where they remain until this day.
http://www.otcmarkets.com/stock/AWSL/filings
Considering the last financial statement was filed a couple weeks after the June 30 year end, I am not sure why you would expect to have to wait until June or July.
According to OTCMarkets.com, AWSL is current in its filings and is listed as the highest Tier available to them. http://www.otcmarkets.com/stock/AWSL/filings
Here is the pictures from the CONELEC ceremony:
http://atlanticwindandsolar.com/news-71.html
Of course anyone who actually reads the PR's or does the utmost in basic due diligence would have seen these were available since Feb 4.
I guess you are right. The pictures of Atlantic's CEO at the CONELEC signing ceremony that were in the news, on Atlantic web site and even on CONELEC's home page for 2 months were all make believe.
Yes the ones with the Minister of Electricity, Minister of Strategic Sectors, the Executive Director f CONELEC. EVeryone was in on this to try to trick AWSL shareholders.
LOL
Nlightn, you say "the Ecuador deal is not real and never was". SO Bloomberg and numerous other media outlets that wrote on this story, including articles within Ecuador, all made this up? OK, whatever.
http://www.bloomberg.com/news/2013-01-28/atlantic-wind-approved-to-build-150-million-solar-in-ecuador.html
DTCC is notorious for lending out more shares than actually exist, so short sellers can sell. Was this done in AWSL's case… probably, they do it for all DTC cleared companies.
Dead? Sales go from $0 to $1,888,000 in 2012 and $1,500,000 in the first 6 months of 2013 and you call it dead? During the period the company landed 50 MW's of approved projects up from 2.7 MW. Is this another indicator of "dead".
I thought I have been clear, I do not measure the life and value of this company based on volume. No one should. After all I or anyone here could simply pay some money to a promoter to get volume and get a pop in this stock. BUT this stock and company has long outgrown this. I believe this is turning into a value play. I look forward to seeing the 2013 Year end financials in January.
WHo knows maybe someone will get a promoter on this in January. Maybe sooner, maybe later. But value is coming and that is real and that is what I am measuring. I personally believe this is going to turn into a cash dividend play before you know it. So hold on to those restricted share dividends. They will get paid on those equally.
Not much. I see that many companies have chosen to have their securities removed from DTCC because DTC policy allowing fractional lending. Similar to the Federal Reserve nightmare. WHere $1 on deposit allows them to lend $7 to $35 worth of lending. DTC can and does the same with shares. They lend out more shares than they have. That said I also know that DTCC is chosen to not be the DTCC clearing agents on many penny stocks. I will report what else I can but I sure am not going to shed a tear that the stock won't be sitting in DTCC.
I suspect we will be hearing something on the Ecuador project soon.
I assume they are extremely busy getting the applications in while the construction continues on Portfolio 101. As eluded to in past communications, they had more than 10 MW's of applications ready to go.
The OPA is now accepting Applications for FIT Projects with a proposed capacity of more than 10 kilowatts and generally up to 500 kilowatts. The OPA will award up to 123.5 megawatts (MW) worth of Contracts (the Procurement Target) as a result of Applications received during this FIT Application Period. This includes the 2013 Procurement Target of up to 70 MW plus 53.5 MW remaining from the previous Application Period.
The FIT Application Start Date is November 4, 2013, at 8:00 a.m. Eastern Prevailing Time, and the Application End Time is December 13, 2013, at 11:59:59 Eastern Prevailing Time. Applicants are required to submit hard-copy Application materials and payment to the OPA’s offices no later than five Business Days after the date of submitting an electronic Application Form.
The OPA will also now accept Applications during this period for the Unconstructed Rooftop Solar Pilot, which includes a separate Procurement Target of up to 15 MW.
Applicants should note that the Minister of Energy issued a direction to the OPA on October 28, 2013, which has exempted Non-Rooftop Solar Projects located on First Nation reserve lands from certain agricultural land use restrictions. An updated version of the FIT Rules has been posted in the program resources section of the FIT Website to reflect this change. Applicants should also note that there have been some additional changes to the program documents since they were posted on October 9, 2013, including to the Prescribed Form: Applicant Legal Name and Entity Confirmation. Applicants should ensure they are using and referring to the current program documents.
More information on the Application Period is available on the FIT website.
Thank you for your interest in the FIT Program.
I was being sarcastic about the sell off. I see wee closed at .40 today on only 500 shares.
Oh oh, a $40. sell off…
Recent Trades - All 1 today
Time ET Ex Price Change Volume
13:16:00 Q 0.3081 -0.0919 143
Thanks Apprentice. Just trying to counter propaganda and disinformation.
I hear the project construction is going well. Hope we get the PR on it soon.