Do you know this for sure or are you guessing what happened?
We know its true that Barry dumped a huge amount of shares in June 2012.
We know Barry got a 350000 stock option in Feb. 2011
We know that losses in 2010 and 2009 were a whopping $12,924,078 and 15,844,862. Which is a continuation of multi-million dollar losses.
On September 10, 2010, we announced that we were expanding our distribution business to include sales of our Westinghouse Solar Power Systems directly to dealers in California, and that we were exiting the solar panel installation business. We had already transitioned over the last year to a design and manufacturing business model with a distribution network in other parts of the United States and in Canada, and we believe we can improve our business results and significantly reduce our expenses by focusing exclusively on our lower overhead design and manufacturing business.
The success of our business depends on the continuing contributions of Barry Cinnamon and other key personnel who may terminate their employment with us at any time, and we will need to hire additional qualified personnel.
And from a prospectus in 2008
Barry Cinnamon, our Chief Executive Officer, beneficially owns, in the aggregate, approximately 28.5% of our outstanding common stock. The interests of our Chief Executive Officer may differ from the interests of other stockholders. As a result, Mr. Cinnamon will have the ability to significantly impact virtually all corporate actions requiring stockholder approval, vote, including the following actions:
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election of our directors;
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the amendment of our Certificate of Incorporation or By-laws;
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the merger of our company or the sale of our assets or other corporate transaction; and
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controlling the outcome of any other matter submitted to the stockholders for vote.
Mr. Cinnamon’s stock ownership may discourage a potential acquirer from seeking to acquire shares of our common stock or otherwise attempting to obtain control of our company, which in turn could reduce our stock price or prevent our stockholders from realizing a premium over our stock price.
AI
