ARISE Technologies Corporation (TSX: T.APV, Stock Forum) shares were off 5% to 18.5 cents on Thursday on the same day the company’s Bullboard generated 125 posts. The maker of solar power technologies is well off its 52-week high of 66 cents.
Since January 26 the company has announced three draw downs from its committed equity facility totaling more than $1 million.
Posters to the company’s Bullboard were in dark moods.
Scaredinvestor wrote: “The recent record lows signal the state of the company (as seen by the market). Looks like the market thinks ARISE is only worth 23 million. With all the debts, empty factories and monthly operating losses, seems about right.”
But a couple of voices urged others to consider the positive.
According to Wintersun10: “Average expenses, besides cost of goods, were running at 1.5 mln per month, the Haverstock draw downs are well below the 1.5 mln level, this proves that Arise has sales that we don't know about.
“Haverstock draw downs are used to pay for expenses and for working capital in case they need to build inventory or if they need to extend credit to customers.
“Add to this the FACT that Canadian Solar installed a solar array ahead of approval and you have to say that is possible for Arise to have installed some of the Micro FIT projects in spite of the cold weather and there is still the option for Arise to install in anticipation of OPA FIT approval.
“Then when it comes to Coba, why would they blow out the candles flame say one day before the FIT approvals come out?
“So, all in all this share price decline is totally due to weak share holders since nothing has changed since Jan1st.....”
Scaredinvestor wrote in response: “Lots has changed wintersun. During that time, ARISE was given the opportunity to show investors why they are a success story; they failed to do that. The Ontario Liberals made it clear that they are in bed with Korean conglomerates, and Germany announced cuts to their FIT. In general, the solar sector has taken many blows. How can you say that nothing has changed? Do you live in a cave?”
Thamnosma lamented, “I can't recall when I was last "excited" or even hopeful about this company.”
But others took a glass-half-full view. “What do you suppose Arise can do to intervene to impact the SP. Only positive news release can do that. Arise is in not position to buy shares back. Management just bought $2M worth recently. And so far as news goes, management is not selling any at this levels,” wrote otsenre.