Capstone Green Energy Corp (fka CGRNQ)

[Curleyjack]

There certainly is some investor uneasiness. This quarter may be telling. We expect quarterly progress and have gotten it to date, albeit slow progress. Each quarter that passes without profitability increases the risk that something may go wrong - warranty problems, Greenevironment, or something else. I have been a long time supporter of CPST and like the technology, but we now have 300 M shares outstanding and CPST is only selling 25 M of product and lossing nearly 8 M each Q. At the end of last fiscal year there was 140 M order backlog but only 24 M of product was produced last Q. Even assuming 2 M was left on the dock we should be hitting 35 M of product each Q to get rid of the backlog. We shall see soon. In addition, the latest financing was at .94 with some warrants now priced at 1.26 that expire on 10/31. Another tranche may be put to this investor within the next 6 mos. at an 8% discount to market price. Lastly, shorts have deceased by about 10 M and this would ordinarily be good but you would expect some increase in pps as that happens. We have had a decline which means a lot of selling. I can't imagine what the pps would be without short covering.