They pay $200,000 a quarter to TFG for product assembly...JV not yet active.
Suqian Joint Venture
On July 2, 2013, we entered into a framework agreement (the “Suqian Agreement”) for the establishment of a joint venture with the Government of the Municipal City of Suqian in Jiangsu Province, China (“Suqian”). The agreement covers a multi-faceted, three-phase project. Completion of all three phases would involve an anticipated investment of up to $500 million over six years, primarily funded by Suqian.
Under the Suqian Agreement, in the first phase we will form a joint venture entity (“JV”) with Suqian, in which we will have majority interest of up to 80%. The JV will build a factory to manufacture our proprietary photovoltaic modules. We will contribute proprietary technology and intellectual property, approximately $1.6 million in cash and certain equipment from our Colorado facility. Suqian will provide cash of approximately $32.5 million as well as rent-free use of a 270,000 square foot factory that is currently being built in the Suqian Economic & Industrial Development Science Park. The total project size of phase one under the agreement is expected to be approximately $160 million. We will have the right to purchase this factory within the first five years at the initial construction cost, as well as the right to purchase Suqian's ownership interest in the JV for a modest nominal cost above Suqian's cash investment.
The implementation of the Suqian Agreement, including the formation of the JV entity, will be subject to a number of contractual conditions and governmental approvals. Such conditions and approvals must be obtained in the future in order for the Suqian factory to be built and become operational.
Everything's moved to the JV in China, including the engineers. The American end is concentrating on marketing. Kind of like a major computer maker whose products are popular with the kids these days.
Assembly in China for finsished products (not sure if it is all or some)...Thornton factory for panels, not yet in proposed JV in China. I am sure they could ramp but there is no demand. High margin consumer endproduct but low volume of manufactured panel rolls needed.
Hi, it's been 3-4 years since I have followed ASTI closely
Is the product coming out of the Thornton factory, or a they now producing in Asia (at a lower cost) ?
Does the factory work well enough at this point to ramp volume, assuming they can find a market for it?
See if you can figure out this new secondary...how many shares total common might come in and what the dividend rate will be. I will have to read it a few times. At first glance it looks like a pump to above $1.35 is called for with subsequent insider selling to cap the rallyat $1.50.
Trying to convince myself...Still long term sell but maybe short term trading buy after the earnings release.
Almost 4 million more shares to be sold if Mr. Seow converts all of his Class A...
Enerplex sales are weak at best..
Surprised they claim 4.9 M still in the kitty as of 9/30 unless thre was another stealth secondary...
"During September and October 2013, Mr. Seow converted a total of 387,610 shares of Series A Preferred Stock. Upon such conversion, the Company issued to Mr. Seow a total 4,897,872 shares of Common Stock in accordance with the terms of the Series A Preferred Stock.
3,876,100 of such shares were issued in accordance with the applicable 1-for-10 conversion ratio. 1,021,772 of such shares were issued in payment (in lieu of cash) of the accrued dividend and make-whole amounts applicable to the Series A Preferred Stock.
The Company did not receive any additional proceeds in connection with the conversion transactions.
All of the shares of Common Stock described in this Current Report on Form 8-K were offered and sold in reliance upon the exemption from registration pursuant to Section 3(a)(9) under the Securities Act of 1933, as amended ("Securities Act"). "
Just sold half position net profits a little over a quarter million in just 3 weeks, thanks to flash market research (google them). They were just mentioned on CNBC. Good luck all
Dow up over 300 and the naz up too and ASTI goes under a dollar by 0.0001. Na no manipulation here by golly.