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The company purchased a paid promotion from an outlet that otherwise covers OTC penny stocks.... suddenly this means they are on the right track
https://upticknewswire.com/services/
This stock is complete and utter garbage, how did so many people get tricked into buying this trash?
I posted it a few months ago, feel free to dig it up. As I said though it was more relevant to another time. A time when the dishonesty of the company was in doubt. Now it's pretty obvious what management did, which is why they are all gone and replaced by new people. They simply had no credibility anymore after years of BS.
This went from a company that purported to be changing the economics of energy, to a company that was going to roll-up the solar industry through M&A, to a company that bids for construction contracts alongside hundreds of others doing the exact same thing.
What differentiates them from other construction contractors? The answer is nothing and that is reflected in the share price.
The person who attended the meeting (and posted the recording), who by the way is a part of a firm with his brother and father that has been sanctioned for bad audits of penny stock frauds in the past, is the one who came to the conclusion that the cell was dead based on his conversation with Tracy Welch.
And while the conversation in question occurred at an open shareholder meeting, it wasn't a formal communication to shareholders, nor was it a part of the presentation. I believe it was a personal question to Tracy Welch. The CPA who attended this meeting claimed to be acquaintances with several members of the company. He was familiar with and talked about SUNW accounting matters to the auditors (who have since been lost their license due to bad audits of penny stock frauds, separate from above) as well as family members of Jim Nelson.
He also had a poor opinion of Tracy Welch, based off reports of his contacts with others in the industry, which he shared on that forum.
In any case, Tracy Welch and the legal counsel for Sunworks both resigned on the same day several months after this recording is made, so it's not really relevant anymore unless you are trying to convince the 10% of people who think company has always been honest with shareholders.
It was leaked on a private forum by a Utah CPA (I have been able to identify the individual) who attended the meeting. He even posted an audio recording on that forum to go along with it.
Oh God, Chardan Capital Markets. Whenever you hear their name too much, dilution soon to come. Happened to XXII just today. Hopefully you don't keep hearing their name too much.
I wasn't responding to you in particular, others have speculated (here and elsewhere) that Mitsui might buy Sunworks.
In any case, it's starting to look like the market is realizing this is not the game changer the initial volume and price movement implied.
Also remember the date of the PR, and be sure to look closely at the next 10-Q to see if those p-note guys used this run to convert and dump like they usually do.
Positive thinking has done more to lose people money in this stock than anything else.
More negativity / skepticism, especially a few years ago, would have been a godsend to a few brokerage accounts around here.
But do you really think Mitsui would be allowing SUNW to run around pumping their stock based on their relationship if they intended to purchase? If they are, they just weakened their own negotiating position by doing so.
More likely since so many employees got fired by SUNE they have to sub-contract our their backlog. It's a nice contract to get, but it's just leftover scraps from a bankrupt company.
I doubt Mitsui wants to buy SUNW. If they wanted to buy SUNW they would put some NDA's into their contracts to prevent SUNW from pumping their stock by hyping their relationship. Not that NDA's have prevented SUNW in the past (when they blatantly violated their NDA with Amazon to pump their own stock, then tried to cover it up)
The entire C&I division of SUNE, which is what Mitsui bought, was worth $15M. This includes a bunch of unfinished projects, some of those sold on to Sunworks. Why would you expect the value of that, to Sunworks, to be as high as you seem to?
It's a nice contract for them to pick up, assuming they didn't low ball the bid in order to put out a nice PR. In any case it's no game changer.
Mitsui paid only $15M for the parts of SUNE that SUNW is getting a bite of.
Short and distort is a short term tactic. You cannot manipulate a good stock down over the long term, if there was nothing wrong with this company it wouldn't have consistently under-performed because of one internet troll saying stuff that most investors don't read.
Pumping the stock, which Nelson seemed to be fond of hiring people to do, caused the most harm. When a stock gets pumped, it becomes more valuable than it should otherwise be. Typically the people pumping the stock use this as an opportunity to unload shares either semi-surreptitiously like the p-note holders have been doing or overtly with a well timed capital raise.
When the stock over time reverts back to a more proper market valuation, the new shareholders lose out - forever. Even if the stock eventually goes up, they lost a lot of potential profit based on buying at artificially inflated prices.
In a short and distort attack based on faulty information, those who wait it out lose nothing. Eventually the stock returns to a normal market price as the effects of the attack wear off.
The trick of course is knowing when an attack is a distortion based on faulty information, or if there is truth to it.
If the attack is false, as I stated earlier the share price will revert back to where it was (all else equal) before the attack. If it is largely true, then the additional information previously not considered by the market will be factored into the share price over the long term.
My attack was primarily based on three things:
1. Stock promoters hyped the price higher than market conditions would otherwise warrant.
2. The technology was bogus (the company did not refute my allegations, just refused to talk about the cell for years then abandoned it, take from that what you will).
3. P-note holders would push the artificially inflated prices down by exploiting every liquidity opportunity they could find to unload some shares.
These things largely happened, and the company made several other mistakes on top of them along the way (Fresno, MD Energy, excessive stock comp) that also helped push down the price.
At this point it's rather silly to say that the decline in share price can been largely attributed to "false comments".
Paid pumper for IRTH Communications (and others) penalized by SEC today:
https://www.sec.gov/news/press-release/2017-177
He never wrote about SUNW, but the people who paid him paid others to do the same thing for SUNW. These people are why investing in microcap stocks is so risky. They have the ability to make the market wildly inefficient, which leads to retail losses and only benefits the complicit corporate managements.
The paid pumpers like MicrocapResearch and others got a lot of people to buy this around $5 when it was up-listed in 2015, and those people are now hurting badly.
The opposite has been happening since 2015. People have been realizing this company, at a bare minimum, is a very lousy investment.
Even if the company decides that blatant fraud and deceptive behavior towards their investors is no long in style, the damage those actions have done are permanent. Large amounts of shareholder value has already been destroyed, never to return. A small group of people, at least some of them friends of the former CEO, have made millions upon millions of dollars selling nearly free shares.
What Nelson did was lie to his investors, and defraud them. He belongs in jail, but will likely retire rich on the backs of his sycophantic supporters, some of them will be left impoverished as a result.
I would like to see it go up in a sustainable way so the victims of this scam can get some of their money back.
Unfortunately, it appears management of this company has little regard for their shareholders, so I doubt this will happen. Owning this stock requires a high tolerance for abuse.
Looks like Charles Cunningham, recent company principal, is making comments again. He liked to leak inside info when he worked there, I am going to miss him doing that.
This one just says director, he was a director back then. The one I posted said CEO which is more recent.
The bio is from July
Speaking of that. His other corporate bio (from REED) has one item that was left off his SUNW bio.
[ ] Growth
[ ] Profitability
Pick one.
With no growth their PE won't push up much, and without profitability they run out of money quite quickly. Cargile is doing well in attempting to turn a fairy tale into a sensible company, but that means making tough decisions and not promising the moon.
Assuming they actually believe that - it's probably time to start erasing those 16 sigs. Will cost way more than what they have in order to do that. Although if people want to keep them up to annoy me, then that is also an option.
Lots of excitement for the impending earnings!
What are the predictions?
They don't call it amateur hours for nothing. Someone got to learn a lesson about wider spreads and market orders.
These guys have been talking about SUNW recently. But there was totally not a pump going on...
This is how it works:
1. Abe sets the timing of his sales, and these timings are known in advance.
2. Pump the stock while these sales are ongoing.
So easy to do, works like a charm too... until most of the people who got bought realize their mistake and sell and the price returns to the abyss it so briefly emerged from.
Amazing how volume was very low before Abe started selling.
Then it picked up precipitously while he was selling.
And when he finished selling, it immediately went back to being very low again, despite upcoming earnings (typically a driver of higher volume).
Meaning we wait to see if they pump on or around this holiday again like they did in 2014, 2015, 2016. No MAJOR PR.
Can you cite anywhere I said that a MAJOR PR would come out this morning?Since by using my first name you seem to be quoting me as the source of that claim.
Also I predicted they would pump in conjunction with PR, not that the PR would be MAJOR PR. Last year they pumped with that stupid 300K Amazon contract in violation of their NDA, a contract that led to nothing. It was far from MAJOR PR, but it was good enough for them to pump after hiring PR firms to place articles about it in the news.
As far as pumping, I've been consistent that I do not expect positive financial results from this company and that I think it's basically garbage. But the reality is the stock is volatile and often trades (temporarily) differently than I believe the financial performance warrants.
Carl, no need to be so modest, when it came to speculating where the stock would end up, you clearly beat everybody today.
Truly a master speculator.
Good job Carl!
Excellent work!
The biggest mystery is how that Wasson guy filed this form by accident. Requires a little more than a typo. Could happen to anybody I suppose.
http://www.cslb.ca.gov/Resources/FormsAndApplications/ResponsibleManagingOfficerOrQualifyingPartnerExemptionCertificate.pdf
Yes asking someone to put "sale" instead of "purchase" (which he finally did) is really quite a lot to ask.
Sure it's speculative, you can never be 100% sure about anything. We are trading penny stocks after all. But if you rely only on the most "solid" facts readily available to the public, you miss out on the other 90% of stuff that actually changes the stock price day to day. It's probably a source of frustration for many that as company revenue increase, the stock price decreased. Even during the short time they were profitable there wasn't any meaningful accrual in shareholder value. What this means is that something else was causing the share price to decline. Ignoring those factors because you cannot hope to achieve 100% certainty has not thus far been a successful strategy.
So yes it was speculative for me to bet on a pump when I loaded up a few weeks ago on a stock I believe to be fundamentally garbage. But then the stock price went up 20% on heavy volume and no news. Guess I am just lucky.
They didn't just pump them, they were a key player in bringing tons of frauds on the market. Their association with SUNW began just prior to this getting pumped. It could be coincidence, it might not be. The thing about trading is that, unless you are breaking the law, you rarely have access to perfect information. I made a bet that their association would lead to a pump, and so far it's working. Maybe it's just a coincidence. Maybe SUNW went up 30% on no news and massive volume just because people suddenly got excited.
Also SUNW isn't a business scam anymore, but it still gets pumped.
Positive from a business standpoint or share price standpoint?
From a share price standpoint the latest round of pumping is positive, I predicted it would happen and loaded up right before it did. The reason I am confident? It's following the exact same pattern it did when it was actually pumped, the low volume is exaggerating the moves.
Basically in previous pumps it would look something like this:
Phase 1: Larger than average high volume buys out of the blue (this is whats happening now)
Phase 2: Pump combined with PR. Last year was the Amazon contract. Generated over 3M daily volume, by far the record. The fact that the company was willing to flagrantly violate their NDA with Amazon showed how far they are willing to go to pump their stock.
This PR firm was hired to place articles to highlight it: http://www.coltrin.com/client-news.html
As far as hard proof. I don't have any! I don't have any info nobody else has. Just a gut feeling based on historical analysis. However I would not be surpised if the recent coverage from Roth had something to with it.
Roth is a name that is familiar to me from my time in the Chinese reverse merger stocks world. They had a big part in bringing many of the total and complete frauds from China into the US. Their presence with SUNW just before all of this is highly suspicious to me.
Those guys from IRTH were in the same game as well, bringing Chinese companies into the US via reverse merger, many of them complete frauds. I am pretty sure all or at least almost all of them have been de-listed since then. Our current CEO Cargile is linked to the IRTH guys via his board membership at an affiliated company. Further evidence of their persistent involvement comes from the recent move of the SITO CEO to CABN. SITO is affiliated with IRTH, and CABN only with the "Santa Barbara Gang". This second piece of info pretty much confirmed to me that IRTH is still in the game, just behind the scenes.
Via Reuters:
He sold almost 200K shares now out of 800k. A tad more than 10%.
The only reason he even has shares now is that he gets a regular share bonus. This way he never runs out of shares to sell. Keep in mind that this selling is not just coming from Abe but also Mike and Emil, who don't file form 4's. These guys had, respectively, a 20% and 30% stake in the old Sunworks (Abe and his Dad had 30% and 20% as well). The combined selling every year really does take a toll. At this point the bi-annual share selling is pretty much structural to the company, and not in a good way.