I'm still holding all mine as well. My bag is growing and every buy I've made is underwater. Some are at least 10 feet under and drowning big time!
If HDSN is a new seller as of today when did did he get these shares to unload? yesterday? Is the SOB shorting ahead of the AS increase??? Very strange day. Its going to take some balls to add more now, but you know the saying "buy weakness, sell strength"
All this talk of "fully financed" projects??? Who needs the financing, the customer or the contractor, LOL.
I see bottombusters is giving CSKH a looksee...
Posted by: SKIV2002 Date: Wednesday, February 24, 2010 12:37:34 PM In reply to: None Post # of 22399
I wonder what Joe Noel's take is on today's crazy trading??
Impressively, the total announced and fully financed backlog at the Company is now $2.1 million, or more than half a megawatt, for just the first six weeks of 2010. Specifically, on February 2nd, the Company announced an $800,000 funded 185 kilowatt rooftop solar energy project in New Jersey. Then on February 23rd, Clear Skies Solar announced a $1.3 million 324 kW solar power project financed by G&S Investors to be installed on the ShopRite building located in the Metro Plaza in New Jersey. The Company is also working on several additional deals that it expects will likely receive financing in the near future as well as getting ready to break ground on several other existing projects.
Total work proposals currently in circulation at Clear Skies Solar total $100 million, and while the Company does not anticipate closing on this total sum, management advised it does expect to start successfully increasing its percentage rate of closure. Out of the $100 million in total outstanding proposals, the Company advised it cautiously expects to close on approximately $10 million to $20 million in additional project work that should receive financing as credit markets continue to open.
Clear Skies Solar currently has approximately 4MW of projects in the engineering phase with an estimated final revenue value of between $12 million and $16 million. This identified, high probability business is expected to gain financing and is in addition to the Company’s already announced and funded business for the first few weeks of the year of $2.1 million, bringing the likely total of funded project work to approximately $14 million to $18 million. Its estimated that this amount alone, together with Clear Skies Solar’s average 10% to 20% profit margin per project, could bring the Company to a point of breakeven regarding its profit level in 2010.
Clear Skies Solar expects to continue to build its strong and growing relationship to develop mid-size as well as larger scale projects with G&S Investors, a developer, leaser and manager of income-producing properties, including shopping malls and commercial properties, in the New York tri-state area.
G&S Investors has already agreed to fund the Company’s two announced and fully financed deals in 2010, one for $1.3 million and another for $800,000 with more projects expected going forward.
Finally, regarding its capital structure, there are relatively few shares currently outstanding. Specifically, there are approximately 78 million shares of common stock outstanding and $850,000 in convertible notes outstanding. At full conversion, including preferred stock, convertible notes into common stock and any potential associated warrants, there are just over approximately 100 million shares outstanding. At the current share price of $0.11, this translates into a market capitalization of about $11 million – very low considering that fact the Company is already at break even less than two months into 2010.
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