RE: Got to admire Carten's optimismHave to admire optimism and he has certainly been optimistic over the 9 years I have been invested.
I have mixed feelings on this report.
Everything is in the future, as per the usual, with the exception of the one contract. Is it even solid? All appears dependant on the GEN line receiving it's accreditation. And where? Doesn't mention the U.S. now except to say that the platform for Spain and France will be the platform for other future marketing in the U.S. and other European countries. What happened to the world? Accreditation for the best product in the world in the U.S., I would think, should be an equal priority in the U.S. considering Obama's potentially large market.
What gives with Germany? Germany is still the largest user in the world for solar products. Is the problem the use of thin film there? Is the problem accreditation? Why isn't the largest user of solar products in the world clammering for the best product in the world? Germany is notorious for using the best of engineering.
- The Company expanded its distribution infrastructure in Greece, the other major market where its Gen I units are also qualified for sale. Greece ended an almost 2 yr moratorium on solar sales in January. The Company has a pipeline of permitted projects where its inverters are specified representing approximately 15MW.
- The Company has completed prototyping of its Gen II inverter platform and expects to roll out products targeting 90% of the thin film rooftop and BIPV market by the end of Q3. The Company believes that its manufactured cost/watt will be among the lowest in the industry.
90% of the world market being targeted in quarter 3 or 90% of the Greek market? Big difference. I suspect the statement refers to the market in Greece.
You can't sell the GEN II without accreditation and any delays will hurt our cash flow, once again diluting the shares. We have a lot of shares out there for a small company trading in the teens without any sales.
I also note that if you go to the company's website, there are no products for sale nor any specs on potential products? The Sunergy 5 is gone. It doesn't appear we are selling anything right now except optimism in something that hasn't even been certified for sale.
Their IR department is certainly very lacking as well, even though they recently announced a company was handling it now for them in returns for compensation and shares. A quick response initially from the IR handler and then silence. Inquiries in the recent past have remained unanswered by both SET and their new IR. Not sensitive inquiries, just basic. Unfortunate and not very conducive to optimism. Anyone else experienced the same?
A lot of questions. Perhaps some here have answers? Hopefully.
Meanwhile I will try to remain cautiously optimistic and hope my reservations are just balloons full of air that will burst upon good news. I do like the 100 million earnings statement and if true, I can wait until 2012. What's another 3 years out of 12? It certainly sounds like a statement that could work for the 2-3 years take over of the company predicted by Carten a year ago. But at what price?
GLTA