Management Discussion and Analysis in Brief
Discussion and Analysis of the Results of Operations
Management at Atlantic is very pleased with the attached financial statements. Sales and earnings remained strong with sales for the quarter nearing $1.2 million.
In this quarter began the Ontario FIT 2.0 projects. With the experience gained by the entire Ontario industry over the last few years we expect FIT 2.0 to complete much more quickly than FIT 1.0.
The accounting is also more streamlined for 2.0 allowing partial payables and receivables to be settled simultaneously - meaning faster recording of project completions.
We continue to make great strides in international markets with strong results expected to show by year end. Atlantic increased its pipeline of new projects substantially, topping the 1 gigawatt mark, and moved closer to binding agreements on the development and co-development of solar PV plants in Asia and South America. Atlantic expects to report more on these international projects by year end.
Total operating expenses, a long time key focus of management, remained within the acceptable limits, i.e. remained around the company’s historical low point. As reported in Q1 management has, for the first time in a few years, begun to increase expenditure on advertising, public relations, and travel/business development as Atlantic again expands into new markets.
Discussion and Analysis of Financial Condition
Management at Atlantic is pleased with the financial condition of the company. Atlantic has continued its policy of protecting shareholders by limiting share issuance. At the end of 2015 Q2 there were 44,707,601 common shares outstanding versus 44,707,601 in 2014 and 2013 and 2012 - a change of 0.0%.
The Company’s working capital requirements are funded by receipts from the general operations. While management continues to be willing and prepared to fund the Company if necessary, as it has done in the past, the Company has reached the point where profit funds operations.
From a financial perspective Atlantic remains very proud of what it has done and, in terms of shareholder dilution, what it has not done.
