several points in that article:
In regards to mechanical problems with the previous project, he said he sees less of an issue because "everything's off the shelf except for a few mechanical components."
The company announced last August that it was developing a solar tracking system that automatically adjusts the position of solar panels to increase the amount of energy absorbed and converted to energy for the grid.
In a recent press release, the company announced the technology is nearly ready for sale.
My take on this:
This article is a year old. "LAST AUGUST" in this article was almost 2 years ago.
He admits that this is not that challenging and consists of mostly off the shelf components.
also acknowledged over a year ago that this was nearly ready for sale.
Since then Ricker has gone through hundreds of thousands of dollars and the product as of last week is still in the design phase. This is not a complex product. It is mostly mechanical and has a sensor that follows light(you can buy these online starting at about $1.50, although the one used is more expensive it's still an off the shelf item- Google component light sensor). Any competent engineer could could design and have this thing built in less than half the time Ricker has been working on it and for far less than MMMW has spent.
Ricker has offered no detailed explanation for why this is taking so long and no explanation or meaningful accounting for where all the money is going.
MMMW isn't installing stationary systems, something that could generate revenue immediately to offset the losses from the STS and wind. In fact he doesn't seem to be interested in doing anything to generate revenue other than continually diluting shareholder value through increased stock issuance. MMMW hasn't even shown us that it is capable of installing a grid tie system of any sort let alone a STS. We've seen a prototype but was that even a functional unit? Who knows.
Ricker owes every stockholder in this company explanations and a clear business plan and if he wants us to vote yes to a further stock dilution he needs to start installing stationary systems to start generating revenue to make up for the dilution he is asking us to approve.
We as stockholders need to show Ricker that we are not just something to generate money. We are owners in the company and demand to be treated as such. We need to be contacting him again and again and again until he starts keeping us all informed of what OUR company is doing. Be proactive with this investment, OUR company.
