WindStream Technologies Inc. (fka WSTI)

[Blizzld]

Just wanted to respond to this a bit RSH...

It has not been years.. Starting last May is when the stock started moving due to the ImpactPPA relationship. It was then we were told "Soon" "shortly" as India had started and we were expecting a ribbon cutting ceremony in June/July.. So this May will make 1 year of "months"

After June/July things seemed delayed but we had the Caribbean accelerator and other things in the mix etc. But yes it seems like it has been a matter of a "month or two" for almost a year now.

Going back to the money issue. WSTI ran out of money back somewhere around 2014/2015. The previous recession and falling fuel prices sucked a lot of money out of solar companies many of which failed.

From late 2015 on after the convertible blow up there were many efforts to raise money but no one wanted to bite. The company had a 5 million dollar or so hole to fill. One of the shareholders emailed that Bates tried a preferred stock offering to big people he knew but people would not bit on that.

Fast forward to fall of 2017. Crypto was big and an energy venture in Australia raised tens of millions easily for their project. A friend talked Bates into giving it a shot and ImpactPPA idea was launched.

But Crypto crashed and much of the money made that was being invested in other ventures just totally dried up as Dan was getting going.

ImpactPPA raised 1 million dollars initially as seen here line 13

Impactppa REG doc

At the time it seemed with India so close, they could raise the rest and fix WSTI but it didnt happen. Looking back on it, perhaps the mistake was not buying more time by tossing enough to get the filings current.

But the projects needed funding, people needed to get paid, they were paying the attorney to stop conversion cases etc...

A bit before we got delisted I actually posted to the board that the company should seek to raise the filing funds from the existing shareholder base since interest was high since the stock started moving.

No one is going to come in and be CEO of a company that has no money has 5 million in debt and a ton of problems with not much active business going on. Dan is really the only one who was working on trying to fix things up.

If there was money somewhere they could demand Dan step down and take a different position and I think he has stated that would be fine with him. He owns stock in WSTI and I Believe is guaranteeing one of the notes personally, hence his interest in making things work.


But he was up against an environment (like I stated in my initial post) where Solar was in a bloodbath.. and no one wanted to put money in...

From this article "By 2017, the U.S. solar industry had almost disappeared, with 25 companies closing since 2012. Only two producers of both solar cells and modules, and eight firms that produced modules using imported cells, remained viable. In 2017, one of the two remaining U.S. producers of solar cells and modules declared bankruptcy and ceased production."

US Solar Industry almost gone

A company near me , that got wiped out...

Evergreen solar bankruptcy

It remains to be seen if anything can or will happen here. I am sure Dan would be the first to admit he was not perfect and didnt make a boatload of mistakes, but I just do not see someone else walking in and fixing this. Unless it was one of us with a lot of money and connections, which we have also tried as best possible.

As you know I have felt the easiest plan was a tranche raise with the first 500k or so going to financials and the rest to settle. I believed, like you do I think, that it is easier to see an undervalued company shell fix up and increase in value than to sell any crypto stuff.

It is a clearer path that investors would understand.