This company is a total joke. I invested or shall I say donated 10,000 dollars. This company basically stole my money. They will be bankrupt within the next year or delisted. Fact.
Very sad. They have a really good led retro fit 2x4 troffer, the best in the market but somehow screwded that up as well.
Well John S I hope you choke to death on your next lobster tail dinner. You are a thief and a piece of trash. Karma will take care of you.
I read it word for word. Save your time and effort Sam. It's out there for anyone with some initiative and enough interest to review on their own.
Excerpts from the new two new product announcements today. Amazing similarity from two different respondents and in quotes too. Amateur effort and another indicator of the many problems with this company.
“Orion has enjoyed significant traction in the market since we launched our LED High Bay Suite last fall, and the ISON™ High Lumen High Bay fixture is already receiving praise from our channel partners because they recognize the significance of using the least amount of watts without sacrificing light output,” said John Scribante, Chief Executive Officer of Orion Energy Systems. “Choosing an alternative will simply mean you spend more on your electrical bill than you need to. Day in and day out, the ISON™ LED High Lumen High Bay, and all the fixtures in our High Bay suite, are going to cost you the least amount of money to run over any other product on the market today. That, coupled with our 10 year warranty, Energy Savings Guarantee and modular upgradeable platform, provides the foundation for a risk-free retrofit and a lighting partner that will serve you well for years to come.”
“Orion is already receiving praise from our channel partners because they recognize the significance of using the least amount of watts without sacrificing light output,” said Scott Green, President of Innovation and Project Engineering for Orion Energy Systems. “Choosing an alternative will simply mean you spend more on your electrical bill than you need to. Day in and day out, all the fixtures in our APOLLO® VaporTight series, are going to cost you the least amount of money to operate over any other product on the market today. That, coupled with our Energy Savings Guarantee and modular upgradeable platform, provides the foundation for a risk-free retrofit and a lighting partner that will serve you well for years to come.”
Great stock performance. No proxy voting rights. This company should be shut down and delisted. Maybe then I will not have to watch my shares losing value every #$%$ day. John S. You truly deserve cancer.
I called over two weeks ago and wasn't able to talk to a human so I left a message asking about the meeting. They haven't called me back so on Monday I sent a letter asking about the meeting. I was watching Orion for a while. I heard negative things about the former CEO so when the new CEO was hired I decided to buy in. And let me tell you that’s a decision I sorely regret. The new CEO made all sorts of big promises and delivered the opposite. I've approached Orion every year since owning stock and asked for an admission badge for the shareholder meeting. They have never given me anything, they just ignore my requests. I have never gotten a notice for a meeting or a proxy to vote or a response to my letters or anything from them at all. I guess I'm not important to this company, they took my money and now I don't matter.
Hi Sam - I haven't received any information in the mail yet. I wasn't sure about your comment on asking to see who voted. I don't think they can release individual voting records as that would seem like an invasion of privacy. The totals are already posted on SEC website. Maybe I misunderstood you.
I do wonder why they haven't released their annual report yet. When I look back at prior years it was in the middle of June. They are later this year and perhaps a result from delaying their earnings call? From other investments I hold, the proxies usually come out after the annual report.
Chief Marketing Officer who was with the company 19 months resigned. Official word is for family reasons, inside word is did not like CEO/Executive management operating style and the associated company culture. Resignation was on her own, not forced out. One of many over the last few years with more to come.
President of Sales also gone as of April. Do not have the information regarding circumstances yet. Employee turnover rate at all levels is excessively high. Board should be doing a deep dive and asking questions as to why. Points directly at leadership.
I still find it revealing that you wont answer my questions about pursuing your complaint with a lawyer yet you grumble here. I guarantee if there was really smoke, the lawyer would have gone all fireman. A year ago.
Divert what blame? You've made a ridiculous accusation that a company prevented you from voting. The burden of proof is on you. That's how America works. Again, I'm not a jury so you have no obligation to answer questions but it is impossible to take you seriously when you are evasive.
I save all my snark for BS, so yeah, it probably feels like that to you.
Finally, I admit that I find it hilarious that you think I am a member of management and that probably eggs me on a little. You do encourage me though with your predictable ok John, blah blah blah responses and your diversion away from questions.
Well now you are just being silly. Would you like copies of purchase documents? The login and password to my brokerage account? Regardless, we've already determined that it doesn't matter how many times I tell you that you are wrong, it just doesn't register. I'm already on record as a long and argued with Jim that everybody who disagrees with him (that should tell you something) doesn't have to have a basis over $6. As a long, I did take some profits but I'd like to see the stock climb back up. I've agreed with Tiger and Sniper here on other postings. So it must be you.
My calling your story BS in no way implies that I am a satisfied shareholder or not concerned about my investments. You choose not to answer my questions from Sams now deleted post. I asked one question here and offered an opinion that you have a bad broker. Hardly glee. You truly have my sympathy with regards to your broker. Your story is just not believable to me. You've offered zero to change that. Reminder that my comments originated out of a genuine concern that Sam not waste his own money on message board myths. I think he is finding out the truth with some simple research. How much legal money have you spent? What did your lawyer advise? Was it to go complain on the Yahoo message board? I hope that advise was free.
I also don't understand your $20 reference. If I bought Apple today, I wouldnt be upset that it was $120 six months ago. Did you buy Orion at $20? Now you absolutely have my sympathy.
Perhaps this is why we can't find agreement. Your perspectives defy what is logical to me and you can't get past your own misconceptions about my reality.
Ariel Investments, LLC holds just about one out of every 5 shares now. - Why don't we hear anything from them. - I would think that they could not be too happy with their investment right now... I would also thin k that they could put whoever they wanted onto the board. (If there were ever any shareholder meetings)
Not the entire picture. Used a 3/31/2016 retention cash bonus to make the majority of the purchases. Good way to delay/avoid paying the income tax in 2016 and would not be surprised if he was not pushed by the CEO. One of the telling points for me is the whopping (not!) share purchases by the CEO, President & COO, Executive VP and the BOD members since the fiscal year 2016 results were announced.
the share awards mentioned by another poster are stock awards for directors/officers which vest over a 3 year period and are normal payments in many companies. But the major point here is the two insider purchases of
57k and 93k by the chief financial officer, certainly one of most knowledgeable officers of any company. His purchases now holding about 500k shows his belief in Oesx's future. To qoute Buffet- "He is all in".
Sam - The 8k filing of August 6 has voting results. Appears there were 24 million other shares voted besides mine (of course those are the only ones that I can confirm voting for).