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Changing filing status may be a good idea going forward but they could have done that anytime in the last 14 years. That they haven't makes me think there is a reason for that.
If there are any sales an Ricker isn't disclosing them it's hurting shareholders. If u think there are sales, why do you think he is hurting shareholders? On purpose or incompetence?
Also being out of SEC compliance will raise red flags with potential clients considering purchases from them if they research the company. Buying a solar system is a big ticket item and I would research the company to see how good the warranty was, but that's just me.
To have confidence in this company you have to have confidence that they have money. There is no evidence to support them having money. By the numbers this company ran out of money. they're not doing anything to alleviate those concerns amongst the shareholders that's my stance. They are either broke or deliberately hurting shareholders which is it?
Solarman , would you care to honestly address any of the issues that I brought forward to this board? Can you come up with a positive explanation for why we are not SEC compliant?
If you feel that sales have been completed why would he not announce them? Clearly his silence is hurting shareholders.
What part of the company doesn't even have money to pay the rent are you missing?
Ricker announced in June that it would take two people one day to install these things. No sales have been announced since then. That means no money.
Who are they that work the price down?
MMMW had only $35,000 working capital over three months ago and he's spent more than that pretty much every quarter from what I can tell. That means the company is broke. The only thing I don't see is a BK filing, which may be coming and why we don't see a 10-k.
Ricker botched the AS vote
Ricker has MMMW SEC non-compliant
No sales
No PR
No shareholder updates
Ricker is the only one responsible for where the share price is. He is the CEO and he is failing miserably.
that sucks, sorry to hear. Win some lose some, gotta press on and keep trying though.
This is the only penny stock I bought in and mostly for fun because the product idea looked interesting. I really should have done more due diligence first though.
exactly.
I think some casual investors/observers don't realize the process and don't realize that the increase in authorized shares never materialized and that MMMW for all intents and purposes is a shell company with no employees and no money.
It appears the money ran out. This was a good run, but sorry. No money = no SEC compliance, no new shares, no STS trackers. $35,000 over 3 months ago doesn't go very far in the corporate world.
BTW: In case anyone is wondering, I am not a company basher. I just don't want to see other people get into this without realizing what they are getting into. Losing money sucks and I'm not happy about it but I've lost a little here. Nothing to cry over because I am well diversified but still not happy about it.
Authorized shares? 67 million, hasn't changed and can't change without vote and shareholder meeting which never happened.
Absolutely right about what it does to dissuade potential investors.
Further observations (and these are my opinions and I will be glad to eat crow if wrong). All numbers estimated.
As of 5/18 MMMW had $35,000(stock value) at its disposal.
Per SEC filings:
Operating expenses quarter ending 1/31/15 = $43,000
Operating expenses quarter ending 1/31/14 = $88,000
5/18 was over 3 months ago.
Expenses from quarter year ago were cut in half so cuts are possible. If expenses weren't dramatically cut then the company is broke. I don't see how they could be dramatically cut since they reportedly were developing the STS over this time period(6/29/15 announced development completion).
Last month the website went down with a system message stating "bandwidth exceeded." At first I thought what a tightwad to not pay $5 a month for unlimited hosting. Upon reflection I wonder if that was just a courtesy message displayed because the bill wasn't paid.
The shareholders meeting never happened. At this point in the absence of an explanation from MMMW we get to speculate. I called the location to confirm the meeting and was told that there was no reservation for MMMW. This was a conference room in a local hotel. It's hard to pay for a room if you are broke.
It is my understanding that to go through with the share increase one would incur fees. I don't know a lot about this but some fees are based on share count. It's hard to go through with this process if you don't have the money to pay for it.
10-K not filed putting the company on bad terms with the SEC, trashing company reputation, and scaring stockholders and potential investors. There again I don't profess to be an expert but generally there could be costs associated with preparing this filing. You run into problems when you have no money.
Quarter ending 1/31/15 Ricker put $1,000+ on his credit card for company expenses. No money, who knows?
Further 10-k speculation (quotes from SEC Late filing notice):
No Money = no money
Not in SEC compliance
Failed shareholder meeting to increase AS, why?
No projects announced or completed
No PR, period
Less than $35,000 available back in May. That's how many months rent and utility bills ago?
MMMW can't even get into SEC compliance or issue a PR explaining what is going on. They haven't finished projects or it would have been announced as they are essentially out of money and appear to be nearing bankruptcy.
What is toxic debt going to do at this point? MMMW is on it's death bed. I assume that you will still be in denial even if a BK filing came out.
Accept the facts I've presented and at least be honest in your posting. At this point things look very very bad and Ricker is doing absolutely nothing to alleviate investor concerns. Why do you think that is?
RE: Ricker holding the debt. He has paid himself enough to pay for that debt already....and for what?
Increasing shares might be off the table because MMMW is not SEC compliant. They have rules companies have to follow and penalties for being non-compliant(not following SEC rules).
Out of boredom I did a little google searching. I couldn't find the MMMW website in the top 10 pages of search for the terms "mass solar" or "Massachusetts solar." I also couldn't find it on the google map search, yet I was able to locate permanently closed solar businesses using this feature with these search terms.
If customers can't find you they can't buy from you. You can find the website through the company name but that excludes ALL customers that don't know you. I assure you customers won't dig through 10 pages on Google to find you.
This is VERY VERY POOR marketing and IMO shows a certain level of incompetence. Ricker has spent large amounts of money on marketing but still you can't find their website or location easily through Google.
I would be willing to bet that a high school student could develop this website and get in ranked on Google or at least get it to show up on google maps under basic solar industry terms. This is sad. I wonder how much of our money was spend on this failure?
I would further speculate the if Ricker approached a local High School he could have gotten an IT teacher to develop this whole thing for him as a class project for free.
At todays price that leaves the OS at less than $35,000 value. If anyone, including Ricker has been paid since 5/18/15 then the company is basically out of money.....if you know what that means.
Rickers wages, rent, accountant, utilities, etc. Might be hard to submit the 10-k if you cannot afford to pay the accountant to type it up. Website outage last month could be explained by unpaid bills.
It doesn't take a rocket scientist to see whats going on.
From google search: Looks Like we might have a transfer agent. Could be wrong though. I am not an expert.
Botched shareholder meeting for new money.
There are restrictions placed on companies securities for not being SEC compliant. This may have had something to do with why Ricker didn't follow through.
The reason there was no shareholder communication on the subject is likely because it would show incompetence.
PR: We can't get our financial affairs in order to follow SEC guidelines so we were forced to cancel the shareholders meeting and are basically out of money.
This would be a bad PR so instead we get complete silence. It's like that buddy you leant money to that disappears because he knows he's supposed to have paid you back already.
..........and still no word on anything including the past due SEC filings. Anyone wanna make bets on when it might show up or if this'll just be another typical week with more cut n paste irrelevant articles from the board pumpers?
From the website:
Could be worse than that. Shareholder meeting canceled, no SEC filings and complete silence from Ricker, none are not positive news. It'll be interesting to say the least, unless they just close up shop. Running out of money and authorized shares could mean the end is very near.
Great post. Helps simply process a lot.
The late filing does not surprise me. You don't have to dig too deep into MMMW filings to start asking serious questions.
What? All I saw was another 20%+ of investor money disappear today. Must be nice to be a CEO that doesn't give a flying duck about shareholders. Right Ricker?
10-k, where art thou
PR's would be nice but I'm more interested in SEC filings......and maybe an explanation to investors/shareholders regarding the canceled shareholder meeting, or heck, anything would be better than what we know at this point.
It's still down. It's still ugly. No one came in and brought the price up.......and still complete silence from our fearless leader.
down 17 percent is nice?
They have very little to no working capital unless they've taken on more debt that we haven't been told about.
No one is buying fixed solar from MMMW and the STS system they have vaguely discusses should have been completed a while ago.
You are right about it being a lotto ticket but at best you may only be able to hit a few of the numbers. This is more of a gamble than an investment and people need to understand you will probably lose every penny you play with here.
http://www.massmegawatts.com/product/ " rel="nofollow" target="_blank" >MMMW website
Take a look at the products offered. STS, fixed solar, residential and commercial. Nothings selling.
It doesn't take a rocket scientist to know solar sells and is a hot market. It also doesn't take a rocket scientist to point out that MMMW can't seem to capitalize on a hot market. Hundreds of thousands in advertising and no sales. Not even one fixed solar installation and he's been at this for years.
The website hasn't even been updated to show the latest version of the STS. What all this tells me is Ricker has our investment in a very bad place and it is very likely we will lose everything we have in this company.
I do not see how the company silence, failed stock authorization, website offline, new flagship STS not shown on the website, annual report late and lack of any PR can be construed to be a good thing.
Rickers silence seems to be saying exactly what the state of affairs are in MMMW at the moment. Some refuse to see it though.
Pickle, what does a meeting and AS increase that never happened tell you?
Post 3257 on 8-1-15
I messaged Ricker and informed him that the website was down because it exceeded its bandwidth. It was ultimately restored but at $5-$10 a month what legitimate business will risk their website going down? None that I know of...unless in dire straits and trying to conserve every penny they can.
I seem to be missing a 10-k, anyone seen it? Whats the deadline on late filing?
I contacted Ricker, I guess a week ago.....no response.
lets not forget that their website went down very recently due to lack of bandwidth. This might seem trivial but at less than $10 a month there is no legitimate reason to not have an unlimited hosting plan unless you are broke.
And no revenue, projects, working capital, shareholder communications, no SEC filings......no nothing. Hard to stay positive when you can find out more info on bankrupt companies than you can about what's going on at MMMW.
Nice article. I'm glad you take the time to show the huge market MMMW is NOT capitalizing on.
I think you guys are on the same page that it's not happening. Why at this point is pure speculation.
I did send in a request to Ricker for him to make some sort of announcement to shareholders on the issue, but I'm not holding my breath.
There are SEC filing issues that may have come to bite him in the rear which may explain the silence......but it's all speculation at this point.
Thanks for the post. I would like to believe that this is because they don't need the funding. Would be nice, wouldn't it.
Please explain why there is no shareholder meeting scheduled at the location on the date listed in the proxy statement.
They have to have the meeting for voting to take place. The proxy card is for people not voting in person at the meeting. This would most definitely result in court action against Ricker and MMMW.
No meeting, no new stock, no new money, no future. Call the company if you need to confirm it yourself.
You should reevaluate your DD. There is no shareholder meeting, no new shares, no new money. MMMW will likely run out of shares to issue very soon and will have to rely on sales or more personal loans from Ricker.
Unfortunately this sounds like a dying company. How much more money does Ricker have to keep this floundering dream alive?
Just called Best Western Royal Plaza Hotel 181 Boston Post Road West Marlborough, MA 01752. This is the location of the shareholder meeting. They have no record of a reservation for Mass Megwatts on the 21st.
This confirms that the meeting for share dilution was botched or there was some issue with the SEC. This helps explain the silence and maybe the delay in regular filings. Maybe MMMW is having to amend filings. I've personally read a few myself and there are things that raise red flags from an investors point of view.
I haven't heard anything since preliminary shareholder meeting announcment. Nothing from the company, my broker or anyone else. It is my understanding that this meeting is not happening.
Anyone else received voting information or anything from their brokers on this?
Am I missing something?
45+ days since announcement of tracker completion. Two men, one day install......complete silence.
Shareholder meeting was supposed to be next week. Looks like
The SEC didn't approve.......complete silence.
Market cap drops from $1,000,000 to $800,000 to $300,000....and you keep blindly pumping away. Will you still be praising Ricker when market cap drops below 6 digits?
I understand that like all of us you are looking at huge % losses here but you aren't fooling anyone.
Ricker doesn't seem to know how to run a company or give a darn about shareholders. This is painfully obvious.
can't stay in business forever with no sales. That's what the stock price is showing you.
sad when a one half cent stock looks overpriced.
If only Ricker would hire a real CEO, or take some free online business classes or something.
Late filings are almost as much fun as late periods.