I agree AW. The company is definitely headed in the right direction. A 2400% increase in revenue YOY is note-worthy. Yes, they aren’t profitable but there is a good reason for that. The acquisition cost for Boston Solar was the main reason and that will not be a factor in 2023. They are growing organically and they had over $9,000,000 in Q4 revenues. Every quarter in 2022 was larger than the previous quarter. That is healthy!
Based on Q4 and the fact that revenues have increased every quarter, we should expect $36 mil to $40 mil in 2023 at a MINIMUM. We get a look at 2023 revenues when the Q1 2023 10q comes out on May 15th. One caveat…Q1 2023 revenues may be smaller than Q4 2022 due to the lag time between sales and revenue recognition. With all the holidays in Q4….I believe solar installations might have been less than in Q3. The CEO mentioned this in his last video conference but also stated that revenues have begun to increase and he expects record revenues overall for 2023 and beyond.
This company is still being looked at as the SING of old. Yes, dilution is an issue, but the growth in revenues is capable of overcoming that and increasing the market cap and share price. Though I have my issues with Wil Ralston (mainly inconsistent communication with shareholders), he is correct that this company is better off financially and balance-sheet wise than at any other time in their history. NO TOXIC DEBT on the books…gone! Very few OTC companies can say that. I also agree that the company encountered market headwinds and conditions that prevented them from the planned uplist to Nasdaq.
They will have to re-file their S-1 with updated financials. The Company filed a registration statement on October 7, 2022 that stated its intent to apply to list its common stock on the Nasdaq Capital Market. Unless market conditions improve on a systemic basis, I am not sure they can uplist even though CEO Ralston stated last week that they continue working towards that goal on a daily basis.
Now…looking at the share price. There is no way this should be at .028 with a $3.5 mil market cap. My own calculations after this 10Q and factoring in a healthy revenue increase in 2023 project to a .15 share price. It’s been a brutal year for micro-cap stocks like SING. However, the market for micro-caps seems to be entering into a better phase and companies that have a healthy balance sheet and growing revenues will eventually be rewarded…or should I say shareholders will be rewarded. I am confident that 6 months to a year from now SING shareholders will be much better off than they are today.
Enjoy your weekend.
News 
Market Data 
Discover 
