Ok, here's the scoop.
This company will indeed be a blockbuster gainer for the long term investor. Expect to double ea. yr. for the next few years. I know, I live nearby in Central Mass. I know all about the company from the locals who KNOW!
Expect BIG things in a few months once this "testing" is completed. Meanwhile, it IS putting us to sleep. If you're long, that's fine. If you're not in yet, this is a great area to jump on board around $1.40-$1.65 per share.
WORCESTER, Mass., Sept 22, 2008 /PRNewswire-FirstCall via COMTEX/ -- Mass Megawatts Wind Power, Inc.
3:03pm 09/25/2008
MMGW 1.38, -0.02, -1.4%) reports a net loss of 5 cents per share or $273,483 in the fiscal quarter ending July 31,2008. In the previous fiscal year for the quarter ending July 31,2007, there was a net loss of one cent per share or $58,353. The reason for the greater loss was an increase in expenditures directly relating to the current Army project, further refinement of the new adjustable augmenter technology, building small mobile display units as well as funding expanding ongoing operations. The company is becoming much more proactive.
In the next (current) fiscal quarter ending October 31,2008, revenue is anticipated from the United States Army sale. Additionally a sale of equipment to a private developer will add to the bottom line. Also, expectations are that initial test results from the 50 kilowatt wind power project constructed at Fort Huachuca, Arizona will be in by the end of 2008. The testing will include the newly developed, adjustable augmenter which increases the harnessed wind velocity in order to increase power output. Heavy and expensive components are no longer needed as required by previous augmenter versions, thereby reducing costs.
The company's signature wind turbine is the uniquely designed and patented Multi-Axis Turbosystem, also know as MAT. With the augmenter, electric generation costs are below traditional wind turbine technologies and are directly competitive with fossil fuel power plants such as coal and natural gas. More potential power plant locations are available to the MAT, as compared to traditional turbines, due to their ability to be profitable even at lower wind locations.
