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There is some truth to this. MMMW has very few resources. They also haven't announced any contracts although they have alluded to sales.
As far as debt goes, Ricker holds most of that debt and he'd be a fool to call it in and hurt the company that pays his salary so I don't think that'll be an issue at this point.
Money for production is whatever MMMW collects up front + whatever shares they still are authorized to release(IF any). They are still planning on asking for more common stock authorization if I'm not mistaken.
Showing a new design, announcing design completion and suggesting sales is a great way to pump before asking for more share dilution.
I would be a lot more comfortable with all of this if there were more details released regarding these supposed sales. As you can see the share price will not hold gains until sales and revenue are proven. That'll be the only way to know if MMMW is serious about making money.
The key (IMO) it to follow this with verified sales. They need to start announcing sales and show everyone that the customers are real. As with any new product sales will take time to ramp up but what we need to see is that MMMW is executing successfully. I think this is paramount for a no revenue company.
This Tracker is a completely different design from the prototype last year. This has one central pivot point where the last version had pivot points at each array. This reduces the number of moving parts which will lower costs and maintenance.
The tradeoff,from what I can observe, is that this will require a larger footprint. Other than that and hopefully they are using outdoor rated casters, it appears to be a solid design.
Had MMMW stated that they were completely redesigning the entire system, the time this has taken would have been much more understandable.(hint:Ricker shareholder communication is important)
I would like to see more info regarding sales because it seems that they have alluded to multiple sales in this announcement.
It's been almost a full month since MMMW said we'd be getting an update "very soon."
Glad I'm not holding my breath.
It's been almost a full month since MMMW said we'd be getting an update "very soon."
Glad I'm not holding my breath.
It's been almost a full month since MMMW said we'd be getting an update "very soon."
Glad I'm not holding my breath.
Too bad none of these industry articles have anything to do with MMMW.
It would be great to see MMMW selling anything. Heck how about a solar keychain like you see at the dollar store where the name flashes...He could make that with a solar panel on the back. At least it'd be something.
If the upcoming stock dilution fails there is a very real chance MMMW could file for bankruptcy. Shouldn't we be discussing MMMW instead of posting these pie in the sky copy & paste articles that have nothing to do with this company? The last article was about companies in Maine. Just because Maine and Massachusetts state with M doesn't mean it belongs on this message board.
I don't think another $650k in shares will help much.
Ricker spent almost $100k in advertising(2013-2014).....which lead to $0 in revenue. I would guess that having a product actually ready to sell might have helped sales.
He's also spent nearly a million dollars (from what I can gather from vague financial statements) designing this tracker. Which based on company feedback, still isn't ready to be manufactured.
What Mass Megawatts needs if it wants to be successful is a new CEO. What are the odds of Ricker replacing himself? Those are the same odds that MMMW will be successful.
He might be a decent person but his business decisions and lack of progress will be the end of this company no matter how many share dilutions we approve.
I have done as much research as I can and as time will allow. I have made inquiries to several govt agencies regarding MMMW and I am still just left with too many unanswered questions.
I will be working on composing a SEC complaint over the weekend. Massachusetts has asked me to contact them once the SEC complaint has been filed. I don't know exactly what their interest is but I am glad they are taking an interest.
I am not a securities expert or a lawyer but there are just too many red flags and some things here just don't seem right. This may just be me over analyzing but in my opinion that is not the case.
Do your own DD, this is just my opinion.
Anyone look at SEC filings?
Hundreds and hundreds of thousands of dollars on site development over the past couple years but MMMW has no property. No sales or contracts besides the small 6.5kw sale that was supposedly due for completion over the winter with a product that isn't even in production yet.
MMMW WILL announce A LOI(non binding proposed sale) so surely if a real contract was signed Rocker would announce it and we would know about it.
Ask yourself where this money really went...better yet call Ricker and ask him who he's giving this all this money to.
Living off the common shares seems to be all that he does. The only way MMMW will be productive is if we cut off the share dilution and make Ricker actually finish and market the product.
I would like to see this company be productive but that doesn't seem to be the case.
I challenge anyone to show the youtube video prototype to an engineer and ask them two questions. 1. How long would that take to assemble? & 2. How much would it cost? I guarantee that it will be much much much less time and money than Ricker has spent over the last two years on this weekend project.
VOTE NO on share dilution. It's time for Ricker to put up or shut up.
Any word on UL certification? or anything for that matter?
He is one of the mods.
I PERSONALLY don't mind his posts because it serves as a reminder of all the great things going on in the industry and how much MMMW has missed the boat.
Again nothing to do with MMMW.
Ricker has lived off issuing more shares for years. I'm not sure that he knows any other way to get money. It's like a drug addict and by voting to allow more shares(stock dilution) we are his enablers.
At this point I will be voting NO and I would recommend others do the same. I reserve the right to change my mind if Ricker can document some real progress but I'm not holding my breath.
I'm not sure he's actually pumping the stock. It seems more like showing how great this industry is and how much opportunity MMMW is missing. MMMW could be making a killing on fixed solar while pushing forward with the STS but the CEO would rather live off the common stock instead of making money.
here's another:
WORCESTER, Mass. - October 13, 2014 - InvestorsHub NewsWire - Mass Megawatts Wind Power,Inc. (OTCQB:MMMW) today announces progress toward reducing its debt and improving its cash flow in the current fiscal quarter ending October 31,2014. Mass Megawatts raised enough cash to fund initial cost toward the production of its Solar Power Monsters, designed to slash the cost of solar energy over 20 percent. Additionally, the Company no longer experiences a severe cash flow problem. Most of the time including the recent past, Mass Megawatts was burdened with cash and debt issues. As a result, Mass Megawatts is now financially poised to achieve their business goals.
Reduced debt and improved cash flow. How? No sales recorded. If I'm not mistaken the debt was to Ricker. My take on this is Ricker issued more shares to generate cash flow and pay himself back. Stock dilution concealed as positive news. Deceptive to says the least, IMO.
Worcester, MA - December 9, 2014 - InvestorsHub NewsWire - Mass Megawatts Wind Power, Inc. (OTC: MMMW) today announced the first 6.25 kW solar energy system sale with a recently introduced Frankenstein solar tracking infrastructure. The company received numerous inquiries and anticipate more sales as larger units beyond this small first sale are constructed. We anticipate the completion of the project to be sometime this winter.
You all remember this? Winter is over and so is spring. You'd think that a decent honest man would feel bad for letting shareholders down and at least level with us regarding this. Ricker apparently doesn't feel this way. Does that make Ricker the opposite of decent and honest?
agreed, but they can afford to do that MMMW can't. Keeping patents fresh might be part of their plan as well as other strategic reasoning.
MMMW doesn't sell anything and doesn't mind share dilution without even a casual explanation. We realistically could be completing fixed installations to generate revenue instead of share dilution. The only thing stopping us from making money is Ricker. He seems content to tinker away while living off the backs of shareholders. This is unacceptable.
Array products are also UL certified. Since MMMW hasn't addressed that, I'm assuming that we are nowhere near that stage yet. That'll be the next delay and excuse next year when Ricker comes back asking for his next round of share dilution. All this is speculation due to the fact that Ricker has everyone in the dark when it comes to what MMMW is doing.
Array technologies: ATI has supplied more than 20,000 trackers to residential customers and nearly 3 gigawatts to commercial and utility-scale markets around the globe. They have money to tinker and throw into R&D.
MMMW does not and is supposed to be developing a more cost effective product. If MMMW R&D was to be compared to Array the MMMW product would no longer be a lower cost cost option and would lose its competitive advantage.
Look at the MMMW product video and keep in mind that I have 5 years experience in manufacturing and machining. It's a light sensor, bulk galvanized railings make up the panel framing and tracking cut to length and attached, one actuator(hydraulic cylinder if I'm not mistaken), probably a couple limit switches to control range and safety(pinch points, excessive load, etc), a couple industrial lazy susans and basically a cable system (for daisy chaining units). Per Rickers own admission, its mostly off the shelf materials.
You could build this in your garage in a few weekends. Hiring an electrician to do the electronics for you would cost you a few hundred bucks. If you want to get fancy, pay a mechanical engineer a couple grand to look it over and then implement any suggestions they have.
From what I gather from available company data that is about where we are at this point. Total cost for the three weeks to get to this point $25 - $50k and that's being very generous. Even if you multiplied my estimates by ten to cover any discrepancies, the product would still have been done over a year ago and have cost less than half what Ricker has spent so far on this project(cost per what very limited information I could find available in financial statements).
This leaves the unanswered questions......Why has this taken years to get to this point and where's all the money going?
Ricker hasn't answered any hard questions covering what I have discussed in this post. I would imagine that he won't.
Anyone get a response regarding UL listing yet?
Array technologies: ATI has supplied more than 20,000 trackers to residential customers and nearly 3 gigawatts to commercial and utility-scale markets around the globe.
They have money to tinker and throw into R&D.
MMMW does not and is supposed to be developing a more cost effective product.
If MMMW R&D was to be compared to Array the MMMW product would no longer be a lower cost cost option and would lost its competitive advantage
Array technologies: ATI has supplied more than 20,000 trackers to residential customers and nearly 3 gigawatts to commercial and utility-scale markets around the globe.
They have money to tinker and throw into R&D.
MMMW does not and is supposed to be developing a more cost effective product.
If MMMW R&D was to be compared to Array the MMMW product would no longer be a lower cost cost option and would lost its competitive advantage
Quick search didn't reveal any connection between Mercom Capital and MMMW. Is this just pure speculation or is there a source than can connect the two?
FYI I'm calling BS on everything I read about this company until SEC filings show revenue.
This is not a product that takes this long to develop. It has to move left and right and track the sun. Humans were doing this 3000 years ago. Not overly complicated.
Crowdfunding.....yeah, they announced that for their wind products too. No details and no sales ever came of that.
Take a look at ALL info on MMMW. There are no details about anything. You can't even attempt to validate forward looking statements because they are too vague. It's almost impossible to do any real due diligence on this one.
You have to judge by sales and how they have executed on their forward looking statements. Pretty much all of them can be discredited or marginalized.
Bottom line is that if it really is taking this long to bring this to market it is because Ricker is not using competent engineers and manufacturers or there are serious design flaws not disclosed or Ricker was just untruthful when a year ago he announced that it was almost ready.
I still haven't heard anything about UL listing for the product. Anyone heard back from Ricker regarding this? It seems important and it hasn't been addressed.
Too many unanswered questions. Invest at your own risk just remember all the warning signs are staring you in the face every day.
I don't now how the logistics work to accomplish that buy my silly 100,000 shares would be all in favor of this happening.
As far as safe harbor clauses go, I don't think the sale announced in the video update reporting company progress on the STS had a safe harbor clause in it. I could be wrong though.
I have been considering contacting SEC over a couple items that seem questionable at best. This is a big part of the reason I have become more vocal about MMMW. The more you look at everything with a suspicious eye the more questions it raises.
It really would be nice if Ricker would just level with shareholders though. Just on the STS issue, there are no legitimate reasons given for the year delay and hundreds of thousands of dollars spent since he said it was just about ready to sell last year.
No, timely updates on company progress, explanations and updates on previous announcements( spinoff, LOI, STS, previously announced sales) and more detailed financial information on things such as site development that have been larger expenses over at least the past few years that have shown no meaningful/documented progress.
By Rickers owe admission the STS should have been delivered already and he's given no meaningful explanation as to why it hasn't.
I haven't checked filing and reporting dates and such but my gut feeling is that these sales and profits would be released after the stock dilution.
In other words... is this just hype to build investor confidence to increase the likelihood of passage of his authorized share increase? I honestly can't imagine what sales will be completed when according to MMMW, as of last week it was still in the design phase.
July? What in July? Next year July? This isn't even in production yet so clearly you aren't expecting something in a week or two.
If you think somethings happening in a couple weeks I hate to break it to you but you're in for a let down.
inventor with a vision, yes. Now all we need is a CEO with a plan that knows how to execute it. That is what MMMW is missing. For all the money spent by Ricker, you'd think some of that might be better spent bringing sales and management experience into the company.
You don't have to look any further than MMMWs press release track record to see that Ricker isn't successful CEO material. Not trying to bash him it's just that his actions show this to be true.
I am also holding this stock long( that may change if nothing verifiable comes from MMMW before the stock dilution though) . It's a penny, not a lot of downside from a penny.
several points in that article:
In regards to mechanical problems with the previous project, he said he sees less of an issue because "everything's off the shelf except for a few mechanical components."
The company announced last August that it was developing a solar tracking system that automatically adjusts the position of solar panels to increase the amount of energy absorbed and converted to energy for the grid.
In a recent press release, the company announced the technology is nearly ready for sale.
My take on this:
This article is a year old. "LAST AUGUST" in this article was almost 2 years ago.
He admits that this is not that challenging and consists of mostly off the shelf components.
also acknowledged over a year ago that this was nearly ready for sale.
Since then Ricker has gone through hundreds of thousands of dollars and the product as of last week is still in the design phase. This is not a complex product. It is mostly mechanical and has a sensor that follows light(you can buy these online starting at about $1.50, although the one used is more expensive it's still an off the shelf item- Google component light sensor). Any competent engineer could could design and have this thing built in less than half the time Ricker has been working on it and for far less than MMMW has spent.
Ricker has offered no detailed explanation for why this is taking so long and no explanation or meaningful accounting for where all the money is going.
MMMW isn't installing stationary systems, something that could generate revenue immediately to offset the losses from the STS and wind. In fact he doesn't seem to be interested in doing anything to generate revenue other than continually diluting shareholder value through increased stock issuance. MMMW hasn't even shown us that it is capable of installing a grid tie system of any sort let alone a STS. We've seen a prototype but was that even a functional unit? Who knows.
Ricker owes every stockholder in this company explanations and a clear business plan and if he wants us to vote yes to a further stock dilution he needs to start installing stationary systems to start generating revenue to make up for the dilution he is asking us to approve.
We as stockholders need to show Ricker that we are not just something to generate money. We are owners in the company and demand to be treated as such. We need to be contacting him again and again and again until he starts keeping us all informed of what OUR company is doing. Be proactive with this investment, OUR company.
the time and cost I can see and understand... if shareholders are being kept in the loop so that there is an understanding of where the company is and when it will be at whatever step is next.
Ricker has been his own worst enemy and this stocks worst enemy. He will have a long way to go to gain some people's trust and regain credibility.......and the sooner he starts leveling with shareholders the sooner that process can begin.
... then there is the other possibility, that he's just stringing along one idea after another and living off the shares. It is a possibility. One that I hope is not true.
I've worked in manufacturing and computerized machining for over 5 years, finances and investments (financial planning, SEC licensed and all that fun stuff) for a number of years and currently own a small business that I started from scratch that is in it's 8th consecutive year of profitability. I Don't claim to be an expert in anything but I know enough about business to know when a company could benefit from improvements. MMMW fits the needs improvement category to say the least.
I think you've hit the nail on the head. Pretty much every announcement by MMMW has resulted in nothing. I think everyone knows that and that's why there will be no meaningful stock appreciation ever unless sales and profits show up on the books.
It is amazing that he announced sales last year and then last week stated that it's still in the design phase. Horrible management blunder after blunder, or a scam company? Hopefully it's the former not the latter and he learns from it.
Or is it scam after scam and it is us who should learn from it. Time will tell but at the very least Ricker is far from perfect. If sales were to ramp up I hope he'd bring someone on board that can execute a product launch.
To be clear I am not anti-MMMW. I just feel that we are not being kept up to date by the company. This leads to speculation which leads to questions.
My last post of the day(non paying cheap member I am). The UL comment goes to the heart of the issue regarding communicating to shareholders.
A lack of communication leads to speculation both good and bad. Two(or more) examples below:
A quick online search mentions roughly 6 months to UL certification. There again I can't verify how accurate this is but it could help explain the delay from prototype to production. There could be changes that had to be made to get certified. This would be a legitimate issue and sharing this with shareholders would better help people understand what MMMW is doing.
OR
Since I cant recall MMMW mentioning UL certification I could assume that we still have another six months after they finish the current design process.
Or
How serious can they be if they aren't even looking at UL certifications yet.......
and it goes on and on.
MMMW could avoid all of this and save investors a lot of time if they would make the process more transparent. Investors and everyone involved in this would benefit from this, assuming that we are actually trying to bring a product to market(more darker speculation). I'm signing off on that note. Be back tomorrow to whine some more about only getting 15 free posts:)
I totally agree with you. I just can't understand the 7 months it has taken since the prototype. It's actually a fairly simple system any mechanical engineer should be able to work on easily.
At the end of the day I think better communication to shareholders is a weakness at MMMW. There is noting wrong with a company giving updates to shareholders once in a while.
Interesting. Still clueless about that name. It never showed up in my feed. I even logged out and looked at it from a different account and saw nothing. Thought for sure you were pulling my chain.
Sales, or any verifiable news would go along way towards satisfying peoples(mine) questions and would be great for shareholders in general.
I think everyone would benefit from a better stock price. MMMW paying people with shares, IMO, would be better done at a higher share price (aka less shares for services rendered). That's my two cents anyways.
I think you may be confused about different conversations. This was a question and a response between MMMW and myself. I didn't see any other posters, but who knows. The most important thing is to note that MMMW has acknowledged that it is still in the design phase.
Based on my understanding, the final product will or should still have to undergo some sort of testing before production begins. This says to me that we will not see any manufacturing or sales anytime soon. Especially not within the next few months as suggested on this MB.
this is the text (cut and paste) that Facebook shows me: I am clueless as to what you are talking about. How about you link to this person you are talking about or cut and paste it or something. From my point of view it's looking like you may have overheated solarman
Wade Myers > ?Mass Megawatts Wind Power
Hate to pester but stockholders would love some sort of update on things such as: solar project on neighboring business roof announced in YouTube video demonstrating STS, spin-off, RMTN LOI, crowd funding, patent update (if any), what's being done in marketing or anything that will give us an update on how things are going. Thanks a bunch.
June 4 at 10:35am · Knoxville, TN · Public
Mass Megawatts Wind Power likes this.
Mass Megawatts Wind Power
The company is focusing on streamlining the latest STS tracker design as well as continuing to forge strategic partnerships with local businesses and individuals who are enamored with our products. There has been and will continue to be progress made on all fronts mentioned. As you all know we run a lean and efficient model that operates with much lower costs than others. This ensures longevity over short term gain. That being said we look forward to sharing more in the very near future. Thank you all for your patience.
Jun 4 at 11:19am
Mass Megawatts Wind Power
Mass Megawatts Wind Power
Thank you, Wade.
See all 2 replies
if you are talking to me give me the post number or link to it. I don't see that name in anyone's post.
The Facebook link I posted goes to the official mmmw Facebook page.
this page:
https://m.facebook.com/permalink.php?story_fbid=1095560030457725&id=964062443607485&comment_id=1095714390442289¬if_t=feed_comment[/tag]
anyone on here see the anything with this name he keeps posting on here?
I used 17 because it's an accurate market average. At that multiple it would take less than $600k in sales to achieve. My point is that if they can actually sell this products and if its as good as he claims, I don't see why that can't be achieved in the near term(few years).
I don't see a big deal with using an average valuation to make hypothetical projections.
I also wasn't alive 40 years ago so cut me some slack, lol