Thursday, January 19, 2017 10:52:07 AM
Solar3d was promoting a revolutionary cell that theid said was ready for commercialization. After several years it appears that they are no closer to bringing the cell to market and in fact appears they are not putting any effort to doing so. They have also changed their position on the importance of the cell is to their future growth, even saying don't be surprise if you never see the cell.
Solar3d acquired 3 companies (Sunworks, Elite Solar and MD Energy) for the purposes of changing the direction of their business plan.
The new business plan was to growth the company by organic growth (from the 3 acquisitions) and inorganic (by acquistions of other companies).
A plan that has been relatively been successful, taking a company of no revenue or profit to one that did plus or minus 100 million in sales in 2016 with profitability looming very close.
During the last few years the company promoted that they had discussions with many potential acquisitions targets even going as far as saying that they narrowed the search to a few and were very close in acquiring.
Then in the second half of 2016 the company made another change to it's business plan, announcing they would no longer be growing the company through the acquisitions route but by concentrating strictly growing it by the organic route.
Solar3d now Sunworks has shown that their current management team has the ability to expand it's base sales. Growing Sunworks (8.5 million sales), MD Energy (4.4 Million sales) and Elite Solar (20 million sales) to plus or minus 100 million in 2016.
While IMHO the former Solar3d is no longer the home run I once thought it would be, the New Sunworks eventually should turn out to be a steady long term growth company.
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