Good info everyone, I have enjoyed reading all the posts, this board and others .
Luckily I did not come across this stock until all the damage was done and the company is almost done. However, this situation intrigues me.
Why? I think it has taken a drubbing due to the pump and dump, toxic conversions etc but that is making people overlook some other things.
For example, the market cap of the company is currently about 230,000 dollars. This company with less sales, and less prospects was once at a market cap of over 140 million dollars.
Second, I do not think you are seeing/reading the India situation correctly. Investors put in 2 million dollars, they have a 50,000 sq foot facility/ They have inventory of 1,000 finished products, with the anticipation of having almost 2,000 by year end. There are people all over asking about these products (in India).
Why is this important? Well the Indian company might be able to raise money and also has access to generous alternative energy subsidies in India.
How many totally dead companies trading millions (of albeit low priced stock) actually have growing sales, finished product inventories, customers that include residential customers worldwide and Governments and businesses in multiple countries? NONE that I know of.
Now in no way am I saying this is a great investment or nothing other than an extremely high risk situation that might likely fail. But , one thing is for sure. Despite all the nasty things said about management, they make product, the sell product. They try to survive. Most companies have nothing but talk of future products. These guys also have IP (patents).
In my opinion it is not worthless. Lots of things can happen. IPO of Indian subsidiary, financing, Angel investor, solar city, etc. Always a wild card.
The way I have things figures (as I mentioned before). It would not be far fetched to see this company achieve a 20 million dollar market cap.
With the current stock outstanding, that would be almost a penny per share which does not sound like much until you run the numbers.
What you guys see as toxic financing, I see as management determined to succeed and survive. Remember, it is unclear who benefited from the pump and dump here. If it was management why keep trying now? Why keep banging their heads and going through all this trouble if they already "cleaned up" at everyone else's expense?
In any case I am a CPA and Investment advisor (dont buy these type stocks for clients). But recently I personally made money on a 95% plus declining stock by loading up at the absolute low before it tripled in value. I have found that very few low priced stocks, especially those with "stories" actually go up over the longer term (usually pump and dumps or fails0 and that the best plays are rebounds off the lowest beaten up lows (usually from people that make a living shorting such companies). On the stock i made money on I missed out on a lot more but had my goals, and the company is still in business with potential.
I follow another company that has a 5.8 million dollar market cap and has a grand total of about 30,000 in sales over the last year.
There is another tech company with a 220 million dollar market cap and no sales for 4 years.
Stuff with a 220k market cap with sales growing has to be looked at.
The question is not if there is 100 million or 1 billion or 2.3 billion shares but what is the valuation and what are the prospects.
Having read every release and filing, it seems to me if the pump and dump never happened most people would think the most recent quarter was the best in company history.
I also get the feeling management wants to prove nay-sayers wrong.
The odds that this thing fails, bankrupts or folds in some fashion are very high, probably 90-95% making it a poor choice, but the potential is there for small amount of money to turn into quite a bit.
I am interested in anyone who wants to analyze and compare their thoughts on this situation. I have really appreciated all the posts I read.
