Meeting Minutes Sorry for my cr/-\ppy notes, writing this as I am listening.
Windstar - Full production since end of March
Mesa - Running full capacity
Kingman - Favorable seasonable winds
Will be cashflow positive 6 months ending in Q2
Puerto Rico Project - 40% tax credit approved by government. 30% tax credit from US eligible as long as project done by 2014, but WND anticipates it being completed in 2013.
Nevada/Utah/Hawaii - 200MW shovel-ready facilities in 2 years - working on PPA
Existing producing assets - for next 7 quarters - record quarters.
Engage Fortune 500 PR firm to promote after Q2.
12.2M shortfall on 90M tax grant - strongly believes they'll get it based on IRS governance.
70M go towards project debt.
20M of short term debt due in the next 6 months.
Finalize debt facilities for Puerto Rico in 60 days.
Mesa increased PPA rate since April.
Kingman - sufficient to cover monthly operational costs until mezzanine debt received.
12M RBC short term loan for product development...
40M of revenue by end of 2012
Q&A now...