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We know about it because they DID report it in a filing. How is that not transparent? And, as you have stated before, it was all reported in past filings as coming in the future. What are they supposed to do, tell everyone in advance the precise dates, so that short's can take advantage? Come on.
Haha, good one. Thanks for the laugh.
Wow, these prices are crazy. I bought yesterday. And surprised that more of my buy orders filled today. So, I'm hating the price today overall, but I'll be loving my new share count as soon as this rebounds. I, and pretty much any other reasonable investor, have already priced the full, long-since reported, known future dilution into my valuations.
I would expect that IR would be very busy today and therefore understandable to not give immediate response. Would probably also need to look into the question about a noncompete. I agree, however, that it is a little surprising they didn't even mention the issue of his departure.
I just read the transcript, and while it is a bit of a chore to follow since not all words transcribe perfectly from the audio, I believe JN basically answered your question regarding the cash. Essentially, it was primarily a matter of timing on projects. I would paste it, but I don't have the transcript up anymore. Also, as I pasted from the report in a different post, they had costs of opening multiple new locations, and they also incurred extra costs and lost productivity due to substantial number of rain days. CFO explained that costs will remain essentially flat for remainder of year, even though revenues will increase.
Did you notice there was zero dilution since the last report?
Did you notice our TTM net income has basically doubled?
Conference call transcript is now available: http://seekingalpha.com/article/3974214-sunworks-sunw-ceo-jim-nelson-q1-2016-results-earnings-call-transcript
Really?
I'm disappointed in the PPS and the lack of profit this quarter too, but it isn't "vomit" bad. We're simply undervalued right now. That will likely correct itself in time. I haven't had a chance to run the exact numbers yet, but we are even more undervalued once you consider the revised TTM P/E and P/S ratios (which will eventually update on the various websites, brokerages, etc.).
Current guidance is actually $107 Million+ this year. Last year we did $53.7 Million.
From today's PR:
From the report:
If someone has the time, can you please calculate and post the new TTM P/S and P/E ratios? If not, I will do it a bit later.
Reuters coverage (brief). Correct me if I am wrong, but I think this may be the first time Reuters has taken notice of SUNW. http://www.reuters.com/article/idUSASC08OSF
Our TTM P/E just improved significantly. There was zero dilution since the annual report. Our trailing-twelve-month net profit just increased from ~ $1,055,000 to $2,081,000. Thus, our new P/E ratio is nearly half what it was as of yesterday. (Not accounting for any change in the share price)
Well, we're set up nicely for a potential move higher. Coming to the tip of the pennant (agree with northpeak), with the moving averages converging, with solid fundamentals. Technical indicators mostly sitting in neutral or oversold territory depending on time frame.
On the other hand, we should be seeing some dilution soon from the bonuses. My vague recollection is that they are all triggered at $2 millon in ttm earnings. However, I think the bonuses are worded somewhat differently for the sunworks guys vs. for JN. Maybe theirs were based on operating income? In any event, that will increase the insider ownership percentages (even when factoring in the increased share count).
I am hoping for 17M revenue or better. I think we could reasonably hit $3.50 this week (but, should be higher imo). We very well could break out higher, but I'm not going to expect it.
We may have a golden cross before long.
Why would anybody load up such an enormous amount of shares if this company is about to tank? That person (or institution) jumped in and didn't look back. Hmmmmm somebody knows something and it must be beautiful. IMO.
Did you see what happened immediately after that transaction? In case you missed it, the PPS went UP.
Wow, someone just scooped up 128,000 shares in one fell swoop? That's great!
Funny you say that. I was just looking. In fact, I just bought more at $2.68.
Proven false.
I see SUNW's Tesla Model S giveaway is this coming Sunday. I wonder if that "other" solar company is going to park all their ICE cars in our lot again for this event?
I just caught up on reading posts yesterday evening, after realizing there was a filing last Friday. (Hey, it was opening weekend of fishing.) It appears nobody mentioned that the filing had an updated share count. The prior date of share count in the 10-K was as of March 11. The update was that the share count remained the same. With all the talk about dilution, I was surprised that was not a topic of discussion.
"19,762,844 shares of Common Stock issued and outstanding at April 29, 2016." http://www.sec.gov/Archives/edgar/data/1172631/000149315216009493/pre14-a.htm
(see fn. 3 to the insider ownership table)
I for one am not rushing for the exits. In fact, I am a buyer today. Still waiting to fill another buy order at $2.65. If only somebody would exit for me. Please?
I haven't been following the stock or this board real closely lately, but have been trying to keep an eye on them when I have some time. However, I've noticed multiple statements to the effect that low pps means the company is crap and therefore the pps will stay low.
This guy seems pretty sharp:
Oh boy, that? Where we learned no insiders actually sold a single share, because there were no SEC filings?
How can that be the basis of a theory that we can't acquire a new company due to insiders from prior acquisitions converting notes and then selling their shares?
When, specifically, are you referring to?
I doubt it was just oversold, it's been so forever now. Something was a trigger. Perhaps just that earnings were around the corner. Or, maybe someone heard through the grapevine that there may finally be some revenue improvement in this report.
Idk, but volume was crazy high today. Moving in the right direction, but even after today pps is still terrible.
Failing? According to the 10-K? Really? I read that it states "may affect."
"May" does not mean "is," and "affect" does not mean "fail."
Certainly, it is an interesting development that I will keep an eye on. But that is all it is at this point. Mountain? Molehill?
The problem with such "theories" that purport to match company events to sales of stock obtained by convertible notes is that they conflate correlation and causation.
Most people with a basic college education comprehend the difference, and may recall the famous example of New York homicide rates increasing based on increased ice cream sales.
Of course, it is a fallacy that ice cream sales caused increased homicides. Rather, both were related to an increase in summer temperatures.
So, similar thing here. Is there a grand conspiracy, whereby the company releases good news merely so that convertible note holders can sell at an elevated price, or ...
are the convertible note holders (which class of persons was restricted to accredited investors) simply smart enough to know they should sell when the price is elevated? And of course, the price will be elevated following some sort of positive event/news.
Don't take my word for it...
http://www.dummies.com/how-to/content/how-statistical-correlation-and-causation-are-diff.html
How Statistical Correlation and Causation Are Different
As a follow up now that I have a moment, the ELIO survey I received via SurveyMonkey had only 4 questions. It asked whether my current primary vehicle had an automatic or manual transmission. The other three questions inquired whether I would purchase my Elio with an automatic or manual transmission if the upgrade to automatic cost $1000, $1200, or $1500.
I don't know if they sent it to everyone who put down any type of reservation, but I am "all-in" with a spot in line.
Edit: I am, however, all-out with respect to the stock I bought from Elio in the direct offering. I'll buy back in again if either the pps or risk drops substantially, but I felt even the $12 pps direct offering was overpriced. I only bought in to support the company. Once I did that, I did not see much additional value for the company by me holding the shares.
Thanks for sharing your thoughts, DN216.
Our TTM P/E ratio should drop even further following this earnings report. Even if we merely broke even for first quarter, the ratio would improve. The $1.4M loss we reported for first quarter of 2015 will drop off.
Similarly, I anticipate improvement in the TTM price-to-sales valuation ratio. In Q1 of 2015, revenue was only $5.66M.
Yes, interesting. My recollection is that address is the other half of the building shared with Sunworks:
So Cal Office
9293 9th Street
Rancho Cucamonga, CA 91730
Edit: FYI, if you click the plus symbol for mmad worx, it shows that company originated 3 years ago.
Sunworks' Tesla referral program is wrapping up, and the short-term TV promo is done. Current promo for going solar is Disneyland. http://sunworksusa.com/promo/deals/
ELIO sent me a survey yesterday, asking questions about pricing for automatic transmission.
Earnings is May 11.
It's aliiiiiive! SUNW
Design your own Solar: Sunworks reports strong interest in new concept
Read more: http://www.pv-magazine.com/news/details/beitrag/design-your-own-solar--sunworks-reports-strong-interest-in-new-concept_100024167/#ixzz45uKP6YaQ
THEY DO BELIEVE! THE PROOF IS RIGHT HERE: http://ih.advfn.com/stock-market/NASDAQ/sunworks-inc-SUNW/trades
BUYING VOLUME IS GREATER THAN SELLING VOLUME!
$2.54 FELL LIKE IT WASN'T EVEN THERE!!!
EDGX (BATS) BOOKVIEWER SHOWS 9,521 SHARES ON BID AT $2.54 RIGHT NOW!
THERE ARE A LOT MORE BUYERS AT THESE PRICES!
WOOOOW!
YES, INDEED.
THE (SUNW) FORCE IS STRONG! YOU CAN'T STOP IT! LOOK AT THE PPS GO! THAT PPS DOESN'T LIE! THE PROOF IS ALL RIGHT THERE IN THE PRICE ACTION!
THOSE ARE ALL FACTS, IMO!
Apparently, not even Sandridge agrees with this. He posited the other day that Jim Nelson had lost control over management. Rather, he suggested Abe Emard and the rest of the original sunworks crew now had the upper hand over JN.