SunWorks Inc (SUNWQ)

[SandridgeEnergy]

Let's look at the last some of the last PR's related to the cell:

http://www.solar3d.com/view_news.php?Id=74

...said Jim Nelson, CEO of Solar3D. “Additionally, our proprietary solar cell team has made great strides in its third round of prototypes and we are in talks with two organizations that are focused specifically on helping us make the jump to commercialization.”


Nelson concluded, “We feel that we are on the verge of creating substantial value for our shareholders. On the technology development front, we are very excited about our prospects for achieving what Solar3D exists to accomplish—providing affordable solar power to people and organizations throughout the world.”

Drugman you are of course completely correct to characterize Nelson's statements in the way that you did. The problem is the idea that the cell would revolutionize the entire energy industry been a lie from the beginning and they never put any serious effort into it, as any close look at the balance sheet and income statement will reveal. There has never been any third party verification of anything related to the cell, and the patents were very sloppy with numerous spelling and grammatical errors. Very amateurish, destined to fail approval, but good enough to put out PR's to sell stock. By the way, I was able to get an opinion of the cell from an expert in the field, the expert basically said it was a total joke.


They put something like $100,000 into that a year, while shareholders were paying millions in dilution via toxic financing mostly to fund Jim Nelsons personal salary and the penny stock promotions to attract more investors (this is a fact so I won't put IMO).

I saw a post earlier that said to understand this company you need to understand Machinetalker, and another post from a long time poster that claimed his family had told him that the people behind Machinetalker were crooks. Both of those posts should be taken seriously by all investors here. If you don't understand Machinetalker, you don't understand who Nelson is, where he came from, and why he made so many decisions that unnecessarily eroded shareholder value.

It's not an accident that one class of owner, those who were given stock options to buy millions of shares at $.338 a share when the stock was at $3.00, is getting rich while ordinary shareholders are basically breaking even. Some people will surely tell you that financing the company with $0.338 options when the stock is at $3.00 is a totally normal thing to do. It's not.

I am not in the "jig is up school" since people will keep trusting Jim Nelson no matter what he says, but generally avoid posting quotes of his from the past. As long as that trust exists, the opportunity to trade this around earnings time will exist as well. By the way, half the time I bash this stock I am bashing my own position, since I am often long heading into earnings based not on the quality of the company, but of the profile of it's investor base who reliably buy more shares whenever the CEO tells them to.

Just the other day when he was on Fox Business telling their viewers that the company didn't rely on the market to fund expansion in 2015 because they have positive cash flow to cover it. Except of course for the Cowen offering, and that their entire expansion strategy involves using equity to acquire more companies, which they did during 2015. Basically he just told more lies to pump the stock a few days after he gave himself stock options near the 52-week low, basically nothing has changed.

The longer people defend this kind of behavior the more it will happen.