Replies to post #16387 on Atlantic Power & Infrastructure Corp. (AWSL)

[Gilda99]

I think everything AWSL says is for PR and it should all be accompanied by bold-faced disclaimers. Anything that AWSL says is almost as valuable and as the Company's Deferred Tax Assets of $1.6 million, which is substantially the Company's entire net equity. In my opinion, the AWSL tangible net book value per share as of June 30, 2015 under G.A.A.P. will be sub-penny if the financials were prepared by an independent CPA.

Perhaps the Company should have its independent CPA firm sign the quarterly accountants' report as part of the financial statements to add some much needed credence to the process of the DTA valuation, the related DTA valuation reserve and the "going concern" matter. Just a couple thoughts to clear the air...

You say "they are bankrupt." I can't tell until I read the Q2-2015 financials on August 15th, but I'm pretty sure that AWSL continues to be insolvent; just another two-bit pinkie stock with an overstated balance sheet and no cash and undisclosed/disavowed liabilities.

Gilda

Gilda, Do you think of it the same way as previously... "they will never have sales". "they are bankrupt". "going sub penny".

That was over $10,000,000 in sales ago.

[Gilda99]

I have been skeptical of AWSL's future since 2009.

AWSL earned or accrued only $42,000 revenues in 2016 with all of that reported in Q4 after reporting no revenues in the three previous quarters of 2016. Neither the current CEO nor the former CEO/MBC offered any revenue projections for 2016 or future years to the best of my knowledge and previous management revenues projections by the MBC proved to be overstated and unreliable.

Apparently, AWSL got what it actually paid its employees for in 2016 – little to nothing! The liability for wages payable of $236,018 at yearend (December 31, 2016) grew from $126,500 at the end of 2015 – an increase of $109,518; whereas. AWSL’s reported salaries and wages for 2016 were $116,500. Apparently, AWSL was able to pay only $6,982 of its 2016 payroll expense! Is it any wonder that the hired help didn’t perform?

AWSL's balance sheet indicates that the Company's entire net worth of $1.5M is represented substantially by its deferred tax asset (DTA) of $1.7M. Simply stated, the Company’s entire net worth is a function of its past inability to operate a profitable business. Furthermore, the common shareholders' dubious net equity is subjugated to the $5.5M in Series B preferred stock leaving the common shareholders completely out in the cold barring a seismic event of incredible proportion.

Shareholders are advised to be very skeptical of AWSL’s continued representation of the DTA of $1.7M, absent any valuation reserve since there is no credible evidence to demonstrate the validity of the Company's ability to generate sufficient future earnings to realize any significant portion of the Company’s huge deferred tax benefits. Furthermore, the footnote disclosure fails to indicate the timing for the expiration of the net operating carryforwards.

AWSL has no significant cash and a negative cash flow from operating activities for 2016 indicating the Company’s ability to pay its current liabilities as they become due is in question; hence, AWSL is far from a "going concern" despite management’s reluctance to reference the standard “going concern” representation since the publication of its long awaited 2012 financials.

https://www.otcmarkets.com/financialReportViewer?symbol=AWSL&id=108033 - link to AWSL's 2012 financials

Going concern (Note 2 – page 9)

The Company’s financial statements are prepared in accordance with generally accepted accounting principles applicable to a going concern. This contemplates the realization of assets and the liquidation of liabilities in the normal course of business. Currently, the Company does not have significant operations or a source of revenue sufficient to cover its operation costs and allow it to continue as a going concern. Additionally, the Company has incurred a net loss of $9,813,102 since inception. The Company will be dependent upon the raising of additional capital through placement of common stock in or der to implement its business plan, or merge with an operating company. There can be no assurance that the Company will be successful in either situation in order to continue as a going concern. The officers and directors have committed to advancing certain operating costs of the Company.

In short, AWSL is back to its penny stock origins prior to the paid PSC stock promotion of 2009 having recently trading for less than $0.02 per share. Considering the lack of demonstrable value of the DTA, the Company’s modest $0.02 share price still appears to represent a considerable premium, in my humble opinion.

Gilda

Gilda, Do you think of it the same way as previously... "they will never have sales". "they are bankrupt". "going sub penny".

That was over $10,000,000 in sales ago.

[Gilda99]

May we have an update from AWSL's M.B.C.?

1. We haven't seen any financials since 3-31-17, so we don't know if there are any sales.

2. Who knows if they're bankrupt, but they sure appear to be insolvent.

3. AWSL is certainly a sub-penny stock now. Ding, ding, ding!

4. Warning! This company may not be making material information publicly available. https://www.otcmarkets.com/stock/AWSL/overview

Gilda

Gilda, Do you think of it the same way as previously... "they will never have sales". "they are bankrupt". "going sub penny".

That was over $10,000,000 in sales ago.