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Rhone A. Resch !!!
Nice. Also:
In addition to expanding outside of the West Coast, Nelson said Sunworks is looking to do an additional acquisition to increase the company’s ability to do residential installations on a larger scale.
That "article " is chock full of inaccurate info.
No company announcement. But some links to public docs have been posted here, which show a granted date of June 1, 2016. Draw your own conclusions.
They don't PR everything. 2 different people here already posted links showing China patent approval.
So, it appears SPI sold off a bunch of their shares of ESNC. Really shook things up here today. I'm mostly out of this now. Will be interesting to watch what happens from here though.
I'm not sure it's quite that simple. But even if it was, there still wouldn't be an issue selling a new product if the patent(s) on the prior tech. had already expired.
Nice moves. Can it break .70?
I had a few sell orders go today. Still have more for sale at higher levels, plus some stashed away for the long haul. I couldn't believe it when I kept getting notifications at higher amounts. She really popped to some new levels today.
Hmmm... I wonder if we're installing these batteries yet. GE. http://www.msn.com/en-us/money/topstories/how-general-electric-is-going-after-tesla/ar-BBvXF4X?ocid=spartandhp
Yes, it is public info. I'll post it later if nobody else gets to it.
FYI, I finally updated the outstanding shares number here on the IHUB page intro.
Go back and look at that most recent PR about the China patent. You will see that the PR specifically identified, by name, which patent application the company was referring to.
Also, I see you asked a question about what SUNW has done since the initial rejection on the US patent. Well, they amended their filing with new technical info, and appealed.
It's still early. Could get worse; could improve.
I wish. Not the SMA though. Maybe you're looking at EMA?
Yeah, that number here on IHUB was as of the last quarterly. I'll try to get to it later today if I get some time.
In other words, share count is still same as already reported in a previous filing. Same number already used on TD Ameritrade and elsewhere.
"The number of shares of registrant’s common stock outstanding as of August 8, 2015 was 20,853,921."
Here are the 3 analyst coverage ratings for SUNW: http://www.marketbeat.com/stocks/NASDAQ/SUNW/
Great news that we're finally receiving new analyst coverage.
Wow, what a day. Nice move up after hours too.
Agreed. Just a blog post from our own site, that was then reposted elsewhere.
I saw this "article" was posted this morning on Nasdaq. http://www.nasdaq.com/article/sunworks-sunw-looks-good-stock-adds-63-in-session-cm654772
I would like to see the comparison/projection using the pro forma numbers for last year (assuming acquisitions were under us as of Jan. 1). That would likely provide more reliable predictions.
That being said, he doesn't deserve a quarter mil salary yet.
All startups lose money. This is a capital-intensive startup. No story there.
Here's the most recent PR summary of Boviet Solar (from Jul. 12, 2016 PR):
About Boviet Solar USA
Headquartered in Silicon Valley, Boviet Solar USA is the North American arm of Boviet Solar Technology Co. Ltd., the largest manufacturer of solar cells and panels in Vietnam. A solely owned subsidiary of Powerway Group Co., Boviet Solar USA delivers commercial-grade solar modules, cells, and related products to contractors, integrators, and utilities across the country. Boviet Solar USA offers innovative, state-of-the-technology products developed and manufactured at the parent company’s 530,000 square foot facility in Vietnam, which is designed to produce 600MW of solar cell and module capacity each year. Boviet Solar USA also delivers solar products where and when they are needed, shipping from six fully stocked warehouses located in Arizona, California, Georgia, New Jersey, and South Carolina.
http://www.bovietsolarusa.com/boviet-solar-usa-unveil-new-line-perc-solar-modules-intersolar-north-america/
Ha... must be Chinese investors. (Powerway Group, which owns Boviet Solar, is a Chinese company) http://www.pwmaterial.com/html/enIntro2_.html
About Boviet Solar USA
Boviet Solar USA, a solely owned subsidiary of Powerway Group Co., provides a full service platform for turnkey solar installations with the highest ratio of quality and value. By combining end-to-end support, solar system components and high quality solar modules manufactured in the largest state-of-the-art, fully automated solar cell and manufacturing facility in Vietnam, Boviet Solar is able to deliver a compelling, one-stop solar solution. With 200 MWs of manufacturing capacity and rapid expansion plans to add 400 MWs by 2016, Boviet Solar is positioned to provide consistent supply to performance-conscious customers in the residential and commercial solar markets. Focused on customer service, the company is headquartered in California with 6 warehouses across the U.S. to accelerate deliveries. Visit our website to learn more at www.bovietsolarusa.com.
(From a Nov. 2015 PR)
http://www.prnewswire.com/news-releases/boviet-solar-usas-parent-company-powerway-group-acquires-berkenhoff-gmbh-300174253.html
So, this is an interesting company for SUNW / RapidRack to be partnering with. I don't really see how the racking system matches up with Boviet, as a solar panel developer/manufacturer. I suppose they are recommending that their panels be installed on RapidRacks. Too bad they aren't partnering on the 3D cell (yet).
More from Boviet's site:
"As a subsidiary of Powerway Group, Boviet Solar has the resources and support of a global holding company with more than $1.5 billion in annual revenue."
"Powerway Group, our parent company, is a global leader in advanced materials with world-recognized brands in nickel alloys and electrical discharge machineries.
Powerway also has 30 years of experience building industry partnerships. Its subsidiaries have a roster of high-profile customers that include Honeywell, Emerson, Hitachi, Bosch, Huawei, Apple, Samsung, Siemens, Panasonic, Moen, Kohler and others.
Boviet Solar USA continues this tradition with select partnerships and highly customized services."
http://www.bovietsolarusa.com/why-boviet/
Interesting PR about RapidRack. However, you think someone could proofread it?
It's not true that only the blue chips / large caps are participating in the bull run. The Russell 2000 is up ~6% this year, same as the S&P 500.
http://www.thumbcharts.com/101038/Russell-2000-vs-S-P-500
Carl, perhaps you stopped at page 1 of the article? It shows as 11 pages long.
For what its worth, one of my brokerages currently shows: "Shares Outstanding 20.9M" CNBC provides the same number. http://data.cnbc.com/quotes/SUNW/tab/4
Well on both May 17 and May 18, they reported this: "20,853,921 shares of Common Stock issued and outstanding at May 13, 2016." https://www.sec.gov/Archives/edgar/data/1172631/000149315216010063/def14a.htm (note (3) on pg. 6)
The above number comes from a footnote to a table of beneficial ownership that also has the following footnote: "Beneficial ownership is determined in accordance with the rules of the Securities and Exchange Commission and generally includes voting or investment power with respect to securities. Shares of common stock subject to options or warrants currently exercisable or convertible, or exercisable or convertible within 60 days of May 13, 2016 are deemed outstanding for computing the percentage of the person holding such option or warrant but are not deemed outstanding for computing the percentage of any other person." (note (2))
In a June 29 filing, they said this: "As of May 13, 2016, the record date, a total of 17,694,728 shares of common stock and 1,506,024 shares of Series B Preferred Stock were issued and outstanding ..."
https://www.sec.gov/Archives/edgar/data/1172631/000149315216011573/form8-ka.htm
May 13 significance is that it was the record date for determining ownership at the annual shareholders' meeting. When you add the total "for," "withheld," and "broker non-votes" from the annual meeting, you arrive at 17,694,728. https://www.sec.gov/Archives/edgar/data/1172631/000149315216011234/form8-k.htm
So... it appears determining the share count is much like Stanley Roper trying to determine Jack Tripper's sexual preference. It's a bit ambiguous.
I don't agree that Cowen received the warrants. I'm pretty sure they were distributed on a 1 for 1 basis to each person/entity that actually purchased the shares in the offering.
If Cowen owned all those warrants, their coverage of SUNW would appear biased.
I noticed this in today's amended filing: "... consumer production is expected to begin mid-2017." (see pg. 17, note 7) https://www.sec.gov/Archives/edgar/data/1531266/000121465916012714/f7151621ua1.htm
Amended quarterly was released today, shows accumulated deficit of $97,918,904 as of Mar. 31, 2016. https://www.sec.gov/Archives/edgar/data/1531266/000121465916012714/f7151621ua1.htm (see pg. 10)
re:
I am anxious to hear more on the conference call about the progress and future plans of our racking division. http://rapidrack.com/
Interesting tidbit... In the May PR about the rebranding to Rapid Rack, they quoted "Robert Lopez, V.P. of Sales and Marketing for Rapid Rack." http://www.solarpowerworldonline.com/2016/05/sunworks-rebrands-solar-racking-system-rapid-rack/
Now, on facebook/twitter, they refer to him by a new title: "Robert Lopez, Rapid Rack VP Mergers & Acquisitions, and Global Procurement" https://www.facebook.com/RapidRack/ (see July 15 post)
Also, as a side note, I noticed there is a small popup box at the bottom, left of each page of the Rapid Rack website, and I don't recall seeing it there before. It's a US flag and fine print, that I can't quite make out. My thought is that it is either a "Made in USA" advertisement, or it is to signify I'm viewing an english/US version of website. Anyone?
Looks like there is a large fulfillment center opportunity just in California alone: Date posted: April 2, 2016
http://www.californiabids.com/business-news/1.123659-amazon-to-open-seventh-california-fulfillment-center-in-san-bernardino.html
RE:
Sunworks +7% on fulfillment deal with Amazon
Jul 14 2016, 12:34 ET
http://seekingalpha.com/news/3193276-sunworks-plus-7-percent-fulfillment-deal-amazon
...just starting to get noticed