Wednesday, September 30, 2009 8:43:39 PM
The Company has not had significant revenues from operations since its inception, but has raised funds through other means to maintain liquidity. Specifically, the Company raised capital with a private placement memorandum under Regulation D, Rule 506, selling shares of its common stock to raise $175,000 for the three months ended July 31, 2009. The Company has dedicated approximately $75,000 of this money to be used to upgrade existing prototypes costs in excess of billings on current projects to be utilized for manufacturing. The Company has also spent approximately $100,000 for administration, working capital, marketing, and advertising.
There is substantial doubt that the Company will have sufficient cash flows from operations to fund its operations for a minimum of 12 months following April 30, 2009 and is therefore dependent on financing from issuing capital stock or debt. In July 2009, the shareholders approved an increase of its authorized common stock from 7,000,000 to 12,000,000 shares. Mass Megawatts plans to continue to pursue additional equity financing to provide funds for operations.
The Company also expects to generate sales in fiscal 2010 and expects to be able to fund its operations for an additional 12 months, but cannot predict with any certainty its ability to do so. In April of 2009 the Company entered into two separate agreements to sell wind power projects for a total of $2.1 million. Without additional future sales, there is substantial doubt about the Company’s ability to continue as a going concern.
http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=6804846-1015-54484&type=sect&dcn=0001140361-09-021201
Recent MMMW News
- Form 15-12G - Securities registration termination [Section 12(g)] • Edgar (US Regulatory) • 10/25/2024 08:35:04 PM
- Mass Megawatts Announces the Start of an Online Discount Solar Energy Equipment Business with Revenue Recognized for the First Time Since Year 2010 in this Fiscal Quarter • InvestorsHub NewsWire • 10/18/2024 11:32:34 AM
- Mass Megawatts Commences Solar Energy Sales Efforts • InvestorsHub NewsWire • 10/16/2024 11:45:00 AM
- Form NT 10-K/A - Notification of inability to timely file Form 10-K 405, 10-K, 10-KSB 405, 10-KSB, 10-KT, or 10-KT405: [Amend] • Edgar (US Regulatory) • 07/30/2024 09:25:34 PM
- Form NT 10-K - Notification of inability to timely file Form 10-K 405, 10-K, 10-KSB 405, 10-KSB, 10-KT, or 10-KT405 • Edgar (US Regulatory) • 07/30/2024 08:39:03 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/26/2024 08:36:10 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 07/26/2024 07:32:09 PM
- Mass Megawatts Announces $220,500 Debt Cancellation Agreement to Improve Financing and Sales of a New Product to be Announced on July 11 • InvestorsHub NewsWire • 06/28/2024 11:30:00 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/15/2024 03:44:27 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/08/2024 12:10:37 PM
- Mass Megawatts Announces Several New Product Lines with Lowest and Competitive Prices as a Source of Generating Revenue in this Fiscal Quarter and to Help Market our Patent Pending Solar Tracker • InvestorsHub NewsWire • 02/22/2024 01:00:00 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 02/12/2024 11:01:42 AM
- Form DEF 14A - Other definitive proxy statements • Edgar (US Regulatory) • 02/09/2024 06:02:22 PM
- Form PRE 14A - Other preliminary proxy statements • Edgar (US Regulatory) • 01/26/2024 10:03:45 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/26/2024 09:20:13 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 12/06/2023 05:30:56 PM
- Mass Megawatts Announces LOWEST PRICE GUARANTEE on Solar Project Sales and Further Cost Reductions Using our Patent Pending Technologies • InvestorsHub NewsWire • 11/28/2023 01:00:00 PM
FEATURED North Bay Resources Announces Assays up to 9.5% Copper at Murex Copper Project, British Columbia • Nov 4, 2024 9:00 AM
Rainmaker Worldwide Inc. to Assume Direct, Non-Dealer Sales of Miranda Water Technologies in U.S. and Mexico in First Quarter of 2025 • RAKR • Nov 4, 2024 8:31 AM
CBD Life Sciences Inc. (CBDL) Launches High-Demand Mushroom Gummy Line for Targeted Wellness Needs, Tapping into a Booming $20 Billion Market • CBDL • Oct 31, 2024 8:00 AM
Nerds On Site Announces Q1 Growth and New Initiatives for the Remainder of 2024 • NOSUF • Oct 31, 2024 7:01 AM
Innovation Beverage Group Receives Largest Shipment of its Top-Selling Bitters to Date in the U.S.-Ready to Meet Growing Demand from Expanding Distribution Network • IBG • Oct 30, 2024 12:22 PM
Element79 Gold Corp to Update Investors on the Emerging Growth Conference on October 31, 2024 • ELMGF • Oct 30, 2024 9:08 AM