Replies to post #13941 on Atlantic Power & Infrastructure Corp. (AWSL)

[Gilda99]

The is not a credible representation of management's stewardship over the past two years, since you have overstated revenues, understated operating losses and neglected to show any deduction for the expense of financing this loosing operation - the onerous 12% preferred stock dividends.

At September 30, 2013, AWSL had negative shareholders' equity (total liabilities exceeded total assets) yet the only interest expense reported on the statement of operations is $1,020. The true expense of financing AWSL is reported on the statement of changes in stockholders' equity (deficit) - $453,570 for the 12% preferred stock dividends issued for the nine months ended September 30, 2013. The 2012 preferred stock dividend was $553,484.

Now let's see what the facts are:

2012 Revenues of $1,886,415 + 9 mos. of 2013 revenues of 2,757,597 = $4,644,012 not $5,000,000.

2012 loss before financing of ($347,027) + 9 mos. of 2013 of ($307,455) = ($654,482) not ($300,000).

2012 12% preferred stock dividend paid of ($553,484) + 9 mos. of 2013 of ($453,570) = ($1,007,054) totally overlooked!

So, over the last year and nine months ended September 30, 2013, AWSL really lost ($1,661,536) on revenues of $4,644,012 - more than a 35% loss on revenues. What's wrong with this picture and management's representation of the facts? Yes, one has to question the source...


Gilda

I think the management is on the right course. I would not want to see them changed. That would just be more expenses, a long learning curve for them to get up to speed and hired management will not take a subsidy and invest when required, if required. This is a ridiculous idea to suggest a change with no suggestion for who. It is also silly given they have clearly turned this boat in the right direction.

Only a few years ago the last CEO Pierre Cousin y lost $2,700,000. Since then, under the new management the past two years they have approx. $5,000,000 in sales and only lost $300,000 according to the last filing Q 3, 2013. With a PR out saying management took another haircut to make the company instantly profitable it is hard to take seriously any suggestion that we replace them. One has to question the suggestion or the source/