CSKH - waiting for the sun to shine
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Calif. attorney general subpoenas Freddie Mac, Fannie Mae as part of mortgage fraud inquiry
AP By Greg Risling, Associated Press | AP – Thu, Nov 17, 2011 5:58 PM EST
LOS ANGELES (AP) -- California's attorney general has subpoenaed mortgage giants Fannie Mae and Freddie Mac looking into their lending practices in the state, a person familiar with the matter told The Associated Press on Thursday.
The subpoenas were issued to the two firms as part of a state investigation, the person told AP on condition of anonymity because he wasn't authorized to talk about it publicly.
Lynda Gledhill, a spokeswoman for Attorney General Kamala Harris, declined comment. Representatives for Fannie Mae and Freddie Mac also did not comment.
State investigators will be looking at Freddie and Fannie's involvement in more than 12,000 foreclosed properties in California where they served as landlords, according to the Los Angeles Times, which first reported the story. They also want to find out what role the two agencies played in selling or marketing mortgage-backed securities, the newspaper reported.
The issuance of subpoenas is the latest move by Harris to examine the actions within the mortgage industry that decimated California's housing market and led to a wave of foreclosures.
Harris has created a task force that is pursuing criminal charges and civil judgments in mortgage fraud cases.
She also recently announced that her office would not agree to a planned 50-state settlement over foreclosure abuses that federal officials and other state attorneys general are negotiating with major U.S. banks. She called the deal "inadequate for California homeowners," arguing that it gave bank officials too much immunity from civil litigation.
The nationwide talks have been designed to institute new guidelines for mortgage lending, which came under scrutiny after some homeowners were improperly foreclosed upon using faulty paperwork.
Earlier this month, Harris called upon Ed DeMarco, the acting director of the Federal Housing Finance Agency, which regulates Fannie and Freddie, to allow larger reductions of principal to help struggling homeowners.
The government rescued the pair of mortgage titans in 2008 after they nearly collapsed because of huge losses on risky mortgages they bought. Taxpayers have spent about $170 billion to rescue them, the most expensive bailout of the recent financial crisis.
Officials estimate the bailout could reach up to $220 billion through 2014.
This week, the House Financial Services Committee approved legislation that would suspend tens of millions of dollars in executive compensation packages at Fannie and Freddie and stop future bonuses.
A dozen executives at the firms received roughly $35.4 million in total salary and bonuses in 2009 and 2010. Fannie Mae CEO Michael J. Williams received about $9.3 million for the two years. Freddie Mac CEO Edward Haldeman Jr. was paid $7.8 million for the same period.
Mass. AG hits big banks with foreclosure lawsuit
Thu, Dec 1, 2011, 9:55pm EST
By Tim McLaughlin and Aruna Viswanatha
(Reuters) - The Massachusetts attorney general has filed a lawsuit against five large U.S. banks accusing them of deceptive foreclosure practices, a signal of ebbing confidence that a multi-state agreement can be worked out.
Attorney General Martha Coakley said on Thursday she filed the lawsuit partly because it has been taking too long to hammer out a nationwide settlement.
For more than a year, state and federal officials have been negotiating a deal in which banks would pay billions of dollars in fines - to go toward housing relief - in exchange for legal protection against future suits.
The Massachusetts lawsuit, filed in state court in Boston, accuses Bank of America Corp, JPMorgan Chase & Co Inc, Citigroup Inc, Wells Fargo & Co and GMAC of deceptive foreclosure practices, such as using robo-signers and false documents.
"Our suit alleges that the banks have charted a destructive path by cutting corners and rushing to foreclose on homeowners without following the rule of law," Coakley said in a statement.
The attorney general in Iowa, Tom Miller, who is leading the negotiations for the states, said in a statement they hope to reach a settlement "soon." He also said Coakley had indicated she is still open to joining the settlement.
"We're optimistic that we'll settle on terms that will be in the interests of Massachusetts," Miller said.
However, analysts said Coakley's lawsuit is a bad sign for banks, which hope a deal with states and federal authorities could help the industry move beyond the legal fallout that has dogged it since the peak of the financial crisis.
"I can't say anything is dead, but it sure looks like this is a negative. The banks are going to have these suits out there for years." said Paul Miller, a bank analyst with FBR Capital Markets.
The mortgage servicing units of the five banks are accused of taking shortcuts as a way to deal with a deluge of foreclosures in the wake of the 2008 credit crisis.
State attorneys general, the Justice Department, and other federal officials have been talking with the banks for more than a year.
The discussions have been bogged down by states concerned the deal was either too lenient or provided the wrong kinds of relief, and by the banks who sought release from mortgage-related claims beyond the original conduct at issue.
GOING IT ALONE?
The Massachusetts complaint accuses the banks of using fraudulent documents when processing foreclosures; of foreclosing on properties without holding the actual mortgage; and of failing to uphold promises to modify loans for the state's homeowners.
It also names the banks' private mortgage registry, MERS, as a defendant, accusing it of dodging fees and corrupting the state's land recording system.
On Thursday, Coakley was firm that she would not sign a mortgage settlement that included "broad liability release regarding MERS and other issues."
A person familiar with the talks said Massachusetts has sought to protect its ability to pursue certain claims against the banks for their use of MERS. Those liability issues are still being hashed out in negotiations, the person said.
The banks targeted in the suit said Coakley's move imperils chances for broader relief.
Bank of America said in a statement that a collaborative resolution, rather than continued litigation, would more quickly heal the housing market and help drive an economic recovery.
Chase said in a statement that it is disappointed Massachusetts filed a lawsuit when negotiations are ongoing on a broader settlement that it said could bring immediate relief to borrowers.
GMAC said it was unhappy that Massachusetts "elected not to continue a more constructive path that could help borrowers in the state, but rather has chosen to use the court process."
Wells Fargo disagreed with Coakley that it has not kept a promise to modify loans.
Citi said it had not yet reviewed the lawsuit, but the bank believes it has operated appropriately and in compliance with existing laws.
Coakley, who took office in 2007, has been aggressive in moving against Wall Street firms and U.S. banks. Her office said it has secured more than $600 million in relief for investors and borrowers, while keeping more than 24,000 people in their homes.
New Jersey Surpasses Milestone of 10,000 Solar Installations
Trenton, N.J. – Advancing the Governor’s commitment to develop renewable sources of energy that
protect the environment, promote economic development and spur job creation, the Christie
Administration today announced that New Jersey set new single-month records for installed solar
capacity and number of installations in June. This brings the State’s installed solar capacity to more
than 380 MW generated from over 10,000 solar arrays statewide, a new milestone.
“Reaching 10,000 solar installations in New Jersey demonstrates this Administration’s commitment to
continue to promote and expand the state’s solar industry and is a critical element of our long-term
energy strategy,” said Governor Chris Christie. “This ground-breaking achievement is the latest
example of New Jersey’s leadership as one of the largest and fastest growing solar energy markets in
the United States.”
New Jersey is second in the nation in both installed solar capacity and number of installations; only
California has more. As of June 30, 2011, New Jersey has 10,086 solar energy array projects installed
across the state providing over 380 MW of installed capacity, due in large part to the State’s Solar
Renewable Energy Certificate (SREC) Registration Program.
New Jersey had one of the strongest growth markets for solar energy installations in 2010 and in the
first quarter of 2011. For the first quarter of 2011, New Jersey installed 42 MW of solar, representing
49 percent growth over first quarter 2010. The state has primarily become a market for non-residential
projects over 100 kW and most growth over the past few quarters has been in larger projects over 1
MW. In addition, New Jersey has the nation’s most robust and mature SREC market, along with the
best availability for long-term SREC contracts, which make project financing much easier to obtain.
--------------
All this strong growth in clear skies' home state and they can't seem to get 'er done - Its just criminal what management has done to shareholders!
here's a poster from the yahoo board that says clear skies has more work than they can handle.
"...Re: Wow--Someone just sold 100shares to bring it down 15-Nov-11 02:19 pm
Never. Not as long as Ezra keeps believing his own BS. They need to stop drinking their own koolaid over
there at Clear Skies. After speaking to an employee at NJ Clean Energy, I found out that Clear Skies
has so many unfinished jobs in NJ that NJ Clean Energy felt it necessary to contact Clear Skies about
this. Anyone here can do the same research I did and find out that this company does not care about
investors and they are going to be bankrupt within 12 months. The pps here is headed to pinkyland and
will soon have 3 zeros after the decimal..."
the pps is immaterial to those that control the printing press. If the pps is less just print more.
Isn't capitalism wonderful. It sure is for public companies and Fed as they both have total unmitigated control over printing money out of thin air.
We have a long way to go before the O/S reaches 6.95B again
OS: 107,448,896 10-17-2011 (as per S1/A)
OS: 101,018,608 09-30-2011 (as per 10Q)
OS: 91,471,696 08-31-2011 (as per S-1/A)
OS: 81,762,984 08-29-2011 (as per SG-13)
OS: 70,895,400 06-30-2011 (as per Q2)
OS: 68,128,866 05-10-2011 (as per Q1) (after reverse split on 5/9/2011)
-------------------
OS: 6,815,696,764 as of 03/13/11 (source: 03/13/11 10k - dilution: 1.123B in the last 4 mos)
OS: 5,692,564,026 as of 11/09/10 (source: 09/30/10 10Q - dilution: 419M in the last 3 mos)
OS: 5,273,093,131 as of 08/09/10 (source: 06/30/10 10Q - dilution: 195M in the last 5 mos)
OS: 5,078,132,870 as of 03/24/10 (source:03/31/10 10K - dilution: 192M in the last 3 mos)
OS: 4,886,468,478 as of Dec 31, 2009 (per 12/31/09 S-1 dilution of 318M in the last 50days )
OS: 4,568,253,327 as of Nov 09, 2009 (per 11/03/09 10Q - dilution of 1.95B in the lst 3 months)
OS: 2,611,087,327 Aug 10, 2009 (per 8/14/09 10Q - dilution of 1.03B in 3 months)
OS: 1,579,096,424 May 15, 2009 (per 10Q - dilution of 636M in 3 months)
OS: 942,884,111 Feb 12, 2009 (per proxy statement - dilution of 634M in 3 months) - Most of this has been sold through mm NITE & HDSN
OS: 309,474,243 Nov 10, 2008 (per 10Q - dilution of 85M in 4 months)
OS: 224,699,718 Jul 08, 2008 (per 8/04/08 proxy statement)
OS: 225,154,440 Apr 07, 2008 (per 10k, dilution of 30M in 4 months)
OS: 195,558,923 Dec 31, 2007 (dilution of 21M)
OS: 174,048,335 Nov 11, 2007 (dilution of 9M)
OS: 165,372,807 Sept 30, 2007 (dilution of 6M)
OS: 159,055,819 Aug 14, 2007 (dilution of 73M)
OS: 85,565,249 May 18, 2007 (dilution of 37M)
OS: 49,118,075 Apr 02, 2007 dilution of 8M)
OS: 41,091,845 Nov 10, 2006
The bid is stacking, so expect another harvest soon from our beloved financiers...
Funny how the have St. George's position valued at 462g's. If they could dump their 12,500,000 shares
at .0040 all they'd get is 50g's, lol. Looks like Mr. Green f'd over his financiers as well.
I hope he messed with the wrong people.
the company has sold $420,000 worth of stock so far in 2011 at god knows what discount to the market with anti-dilution protection no doubt as well. (see the 10Q)
I guess that will cover managements salary.
Selling solar is just a front for selling stock imo. There is no work in selling stock, its a free ride. Why file for bankruptcy when there is still plenty of ink in the stock printing press.
This company should not be in business. If it had to stand on its own two feet without retail shareholder support - THEY'D BE BROKE.
from 30 cents to 1/3 of a penny
And for that type of performance the CEO pays himself $234 grand a year.
He gets the POS of the year award in book.
"...These smaller projects have been developed as the result of our movement into the high volume market since January 2011 and are in addition the projects previously announced. The results have been very successful and we have been exceeding our own expectations..." 4/7/11
"...CSS has expanded their target market into the high-volume arena which has proven to be very successful. We started 2011 with a new focus and altered our internal structure to help meet our new goals. The focus on smaller projects has brought our 2011 sales to approximately $6 million to date and we expect this growth to continue in the future..." 5/11/11
"...As we close the month of May with more than $7 million in closed sales for 2011, we have shown our model is working and we will be duplicating the process in other markets in the near-term future..."
"...today announced it has reached over 1 megawatt or $4 million in customer signed contracts for the month of June..."
"..With majority of our projects financed and the balance in the process of being financed, we are looking forward optimistically to a healthy 2011 for Clear Skies Solar. With our diversified portfolio of projects now under construction we are happy to announce we have recently completed the first installation under our new high volume project management program. We currently have approximately eight projects under construction at different stages varying in size from a residential 4 kilowatts to several commercial facilities of 160 kW's and 250 kW's respectively..." 07/27/11
OS: 231M (11-04-2011)
OS: 213M (08-03-2011)
OS: 211M (05-09-2011)
OS: 206M (03-31-2011)
OS: 179M (12-31-2010)
OS: 172M (11-16-2010)
OS: 143M (09-30-2010)
OS: 121M (08-19-2010)
OS: 85M (05-07-2010)
OS: 79M (03-24-2010)
OS: 71M (01-06-2010)
OS: 60M (11-11-2009)
OS: 42M (06-30-2009)
Shares issued by CBAI in 2011...
#msg-69277531
panel makers are being creamed by lower prices from overproduction.
Installers on the other hand should be reaping the benefits of this windfall.
Why can't this company make money installing panels? Others certainly are! Is it because they are like a rouge contractor that signs up more jobs than they can deliver on? By the time they get around to a contract signed many months ago prices have fallen so much further the other party backs out? I'll wager this is the problem here, that they have more marketers on the payroll than installers!
How about signing a customer and beginning work immediately to complete the job and get paid. Then move on to your next job. That's how I do it.
Where's the BEEF?
bottom fishers maybe
1.7M at 1/2 a penny is only $8,500
That isn't even one months rent at their old office
If this CEO is going to live of selling stock he better start pumping FAST before this hits .0001
wow, we opened at .0035
ain't dilution wonderful!
How cheap did VFIN get these shares? Ezra must be desperate!
$61g's down the drain for me. Investing is just a loosing proposition in corrupt wallstreet. Just ask anyone with a IRA how their doing. WallStreet exists for the sole purpose of separating Americans from their money.
VFIN had the best offer just before I snapped this...
the company is quiet so the news is bad.
So there is no impetus for investors to bid during this new round of VFIN dilution.
Therefore the pps is in BIG TROUBLE
Way to go Mr. CEO
same here brother
F wallstreet
yep, looks like management is driving the bus off the cliff, and we're all going down.
pps down on volume is never good. Pure distribution today...
$0.0050 14,000 OBB 15:57:53
$0.0049 5,000 OBB 15:56:52
$0.0049 5,000 OBB 15:55:55
$0.0049 9,000 OBB 15:55:53
$0.0052 1,000 OBB 15:55:45
$0.0050 5,000 OBB 15:55:40
$0.0049 5,000 OBB 15:55:25
$0.0050 50,000 OBB 15:55:25
$0.0050 5,000 OBB 15:55:13
$0.0050 5,000 OBB 15:55:04
$0.0055 5,000 OBB 15:54:49
$0.0065 100 OBB 15:28:30
$0.0060 5,769 OBB 15:15:28
$0.0060 30,000 OBB 15:15:24
$0.0060 400,000 OBB 15:14:53
$0.0060 64,231 OBB 15:10:58
$0.0065 5,000 OBB 15:08:28
$0.0065 30,769 OBB 15:08:24
$0.0072 1,000 OBB 13:59:24
$0.0070 350,000 OBB 13:55:25
$0.0071 350,000 OBB 13:54:10
$0.0068 20,000 OBB 13:46:35
$0.0069 400,000 OBB 13:24:36
$0.0070 370,000 OBB 13:23:55
$0.0075 30,000 OBB 13:06:56
$0.0065 10,000 OBB 10:18:28
$0.0074 13,000 OBB 11/21
$0.0075 1,000 OBB 11/21
$0.0065 1,500 OBB 11/21
$0.0075 2,000 OBB 11/18
here it is in a nutshell from a post on another board...
TomThomas Member Profile TomThomas
Tuesday, November 22, 2011 6:05:02 PM
Re: locksflooring post# 72544
The selling of newly issued shares. The basis in which the entire stock market revolves around is the issuance of shares to acquire the capital to sustain and allow a company to grow. This is arguably the worst of the six 'thieves', as it is 100% legal, even when done with 'less than good' intentions and done thru misrepresentation. The less 'blue chip' a company is, the more likely the dilution will not bear fruit.
Enter the 'lifestyle' stock.
Lifestyle stocks (and they are VERY plenty, especially in otc/pink issues) are stocks with good/great sounding stories, usually in the form of press releases. First and foremost, they provide CEO's with high salaries, regardless of CEO performance. They also provide the company with capital to support their own lives, using such guises as travel, meals, and entertainment as expenses. Automotive (BMW, Mercedes...you get the idea) expenses are common. Real-estate also falls into the classification as a company necessity, 'stated' as a necessity for temporary housing for out-of-town clients, even if the 'client' may be a high school sweetheart from a different city. Shortly put, watch CAREFULLY and CLOSELY for lifestyle stocks. You can only profit from them once you are FULLY knowledgeable in their 'scam'.
by then the pps might well be .0010 and the AS bumped up to 500+ million.
from the Q3...
Diluted loss per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then share in the loss of the Company. The difference between the number of shares used to compute basic loss per share and diluted loss per share relates to additional shares to be issued upon the assumed exercise of stock options and warrants, net of shares hypothetically repurchased at the average market price with the proceeds of exercise. As the Company reported a net loss for the three and nine months ended September 30, 2011 and 2010, the effects of the shares issuable upon exercise of outstanding warrants and options as of September 30, 2011 and 2010 have not been considered in the diluted net loss per common share since these dilutive securities would reduce the loss per common share and become anti-dilutive. As of September 30, 2011, there are 110,202,191 shares reserved for issuance upon the exercise of outstanding warrants, options and convertible notes. The total of our outstanding shares as of September 30, 2011 (218,142,170) and the reserved shares exceeds the 300,000,000 common shares that we are authorized to issue for a deficit of 28,344,361 shares. One warrant (the “Warrant”) entitled the holder to obtain a total of 85,714,286 shares as of September 30, 2011. The number of shares that can be obtained upon exercise of the Warrant is based on a percentage of the market price at the time of exercise, so the number will vary from time to time. The Warrant has a provision preventing the exercise of the Warrant if it would result in the holder owning more than 9.99% of the number of shares of our common stock outstanding on the date of exercise of the Warrant. As a result of this provision, including the number of shares of our common stock beneficially owned by the holder on September 30, 2011, the holder could not have exercised the Warrant for more than 9,096,074 shares of our common stock on September 30, 2011 without first selling previously owned shares. After giving effect to this limitation, the number of shares that could have been issued on September 30, 2011 upon the conversion of all outstanding warrants, options and convertible notes was reduced to 33,583,979 shares leaving no share deficit. None of the shares issuable upon exercise of the Warrant have been registered under the securities laws.
On October 18, 2011, the warrant holder, having sold sufficient shares to allow it to do so, converted 1,218,353 warrants into 10,000,737 shares of our common stock, leaving 24,755,673 warrants that could be converted into common stock in the future. Since the conversion price is based on a discount from the market price at date of conversion it is not possible to now estimate the number of shares into which the remaining warrants could be converted.
------
The more the stock tanks, the more shares the mafia with get to dump on us. Occupy Wallstreeter's are definitely on to something!
legalized theft at it finest.
I hope management chokes on our hard earned cash that they blew with nothing to show for it.
Here's a classic example of them looking forward to rewarding shareholders in 2011. In reality we are being rewarded by being diluted to oblivion...
---
CSS Updates Investors on High Volume Commercial and Residential Marketing Strategy
Clear Skies Solar, Inc. (CSS) (OTCBB:CSKH today announced it has augmented its management team with several new key hires as part of the Company's strategy to add value and sustain operations with cash flow productive projects by expanding its traditional market focus to include solar installation projects in the sub-300kw sector for commercial and residential installations.
Clear Skies Solar recently announced in Q4 2010 that the Company will pursue the sub-300kw commercial and residential market by establishing a new division to focus on projects within this space and adding a new sales and management team with many years of industry experience managing high volume projects. As part of this plan, Clear Skies Solar has now hired Mr. Allen Sosis, to serve as VP of sales and marketing, and Mr. John Conte, to serve as the Company's National VP of residential sales, as the newest members of the CSS Team specifically selected to oversee this high-growth segment of the market.
Ezra Green, CEO of Clear Skies Solar remarked, "We are grateful to our shareholders for their interest and concern in the growth and future prospects of the Company and, to this end, as part of our strategy, we are very pleased to announce that Mr. Allen Sosis has joined us as our new VP of sales and marketing." He continued, "Mr. Sosis has a strong and successful sales background, including several years in the solar industry, and has delivered results that exceed our expectations."
Mr. Sosis commented, "It is a pleasure to be here with CSS working with the Team during this important time in the Company's history. The expertise and knowledge that has made CSS well known within the industry has already made my job much easier." He continued, "As a result of the Company's new plan and through these efforts, we have successfully financed several additional commercial projects in a very short time. We expect to start returning this value to the shareholders of Clear Skies Solar in 2011."
you lucky sob.
We all should have bailed. New toxic dilution started today.
I guess the company can't install solar profitably even when the feds pay 30%
It must be time for the company to pay big bucks for their officer's miserable performance.
VFIN bidding .0001, offering .005 - This stock is toast!
Lumps of coal for all loyal retail investors this Christmas, courtesy of Mr. Ezra Green
The DTC “Chill” Has Had an Adverse Impact on the Company’s Ability to Raise Additional Capital, as well as the Cost of Such Capital, and Likely Will Have a Similar Impact until the “Chill” is Lifted.
As stated in the foregoing risk factor, the DTC’s “chill” precludes shares which it has unilaterally “chilled” from utilizing its Electronic Stock Transfer System, thereby putting the holders of such “chilled shares” at extreme disadvantage in the trading market when they go to sell their shares. The DTC “chill” applies to all shares newly issued after the “chill” went into effect on December 14, 2010, as well as all shares newly freed from private placement sales restrictions after the “chill” went into effect. Due to the foregoing, shares issued by the Company to investors in exchange for financing would be subject to the “chill,” and as such, investors are less likely to provide investment capital to the Company. Investors who are interested in providing investment capital to the Company have indicated they will only do so at a higher cost to the Company while the “chill” remains in effect, in order to compensate them for the issues encountered by them due to the “chill.”
----
SUBJECT TO COMPLETION
DATED OCTOBER 28, 2011
PROSPECTUS
CORD BLOOD AMERICA, INC.
32,234,668 Shares of Common Stock
This prospectus (the “Prospectus”) relates to the resale of 32,234,668 shares of our common stock, par value of $0.0001, by certain individuals and entities who beneficially own shares of our common stock. We are not selling any shares of our common stock in this offering and therefore we will not receive any proceeds from this offering. However, the Company will receive proceeds from the sale of our common stock under the Securities Purchase Agreement and the amendments thereto, which were entered into between the Company and Tangiers Investors, LP, (“Tangiers”), the selling stockholder. We agreed to allow Tangiers to retain 10% of the proceeds raised under the Securities Purchase Agreement, which is more fully described below.
http://secfilings.nasdaq.com/filingFrameset.asp?FileName=0001354488%2D11%2D003998%2Etxt&FilePath=%5C2011%5C10%5C28%5C&CoName=CORD+BLOOD+AMERICA%2C+INC%2E&FormType=S%2D1%2FA&RcvdDate=10%2F28%2F2011&pdf=
Congrats to all in on this move!
AS: 250M
OS: 107,448,896 10-17-2011 (as per S-1/A)
OS: 101,018,608 09-30-2011 (as per 10Q)
OS: 91,471,696 08-31-2011 (as per S-1/A)
OS: 81,762,984 08-29-2011 (as per SG-13)
OS: 70,895,400 06-30-2011 (as per Q2)
OS: 68,128,866 05-10-2011 (as per Q1) (after reverse split on 5/9/2011)
Market Cap: .06 x 107.5M = $6.45M
Revenues:
2011: $1,492,799 (Q3)
2011: $1,430,431 (Q2)
2011: $1,457,912 (Q1)
2010: $4,128,439
2009: $3,237,183
2008: $4,169,949
2007: $5,811,267
2006: $3,328,336
2005: $2,099,463
boring is better than tanking. But I agree, management needs to "lead". They are so inconstant in their communication and that makes for a very boring stock.
We're do for a PR imo
Now we have to wait until 4/15/13 for 4Q numbers, that's almost 1/2 a year away!
"...we recognize revenue under the percentage of completion method, it could be several months (due to the time for the necessary design and engineering work and the building permit and energy credit application process) after entering into contracts before we begin performance and we are able to report revenue in our financial statements..."
AUTO is generally a retail broker
Most diluting MM's would never display a 3.6M size (36,000) but only put up a 50 or a 500 and just keep refreshing it.
why would a retailer be willing to sell 3.6M shares so cheaply?
3.6M x .0021 = $7,560 (not a lot money in the scheme of things)
1.4M left at .0021
That's been their MO, when they are quiet its because they have bad news and don't want to share it.
Mr. green should start whacking the ask if he believes his company will be worth something. If he doesn't, then I'll assume he knows CSKH will never amount to anything. If it wasn't for his ability to sell stock his company would have folded long ago.
Where are the $11M in closed sales? Are they still coming or have they been canceled. Inquiring minds want to know.
I guess Mr. Green is getting sick of all the hate mail and is looking for someone else to take out the trash - On our dime of course.
Ah, to be a believer...
"We have been delivering this continuous stream of good news in order for our shareholders to recognize that we have made serious and effective changes to our sales and operations model. Announcing closed contracts, needless to say, is important news to deliver, but from time to time we will also discuss projects that we are confident will materialize into signed contracts. Some projects that haven't gone to closing, such as LOI's, we might feel are material events that should be shared with the shareholders, but again, we will be focusing our shareholder communications on the signed and closed contracts," said Ezra Green, CEO of Clear Skies Solar.
Continuing: "As we close the month of May with more than $7 million in closed sales for 2011, we have shown our model is working and we will be duplicating the process in other markets in the near-term future. Successful companies know that expansion needs to be tempered in order to build a solid and sustainable growth model. In the Northeast, we have established that plan for success, and we are now taking the steps necessary to duplicate that process into new markets. We have operated for years on the West Coast, completing a number of large and complicated commercial projects which reflects our ability to complete a project anywhere anytime."
------
CSKH has reached over 1 megawatt or $4 million in customer signed contracts for the month of June.
With majority of our projects financed and the balance in the process of being financed, we are looking forward optimistically to a healthy 2011 for Clear Skies Solar. With our diversified portfolio of projects now under construction we are happy to announce we have recently completed the first installation under our new high volume project management program. We currently have approximately eight projects under construction at different stages varying in size from a residential 4 kilowatts to several commercial facilities of 160 kW's and 250 kW's respectively.
The CSS process of execution is initially based on client financing with the installation dictated by engineering and product delivery. Our products are shipped from Asia, Canada and the United States with lead times up to 4-6 weeks which fits into the overall process of a project. With sales increasing and construction under way, we have been able to enter discussions with several non-dilutive sources of project and product funding.
We recognize that discussing events is very important but we at CSS also owe it to the shareholders that the information being delivered is not premature and subject to any radical change.