I am neither long nor short. This stock came to my attention today. As far as I know, there is a lot of money continually being spent on improving solar technology but not by WEST. Apparently, WEST has technology that was "award winning" in 2009 and may or may not be competitive today. I do not understand why they would let the business run down because a possible merger was pending.
Is their product still competitive? Is the management competent? The market obviously has a low opinion of this company currently but I would buy at the current price if there is a strong likelihood of growing the company and being profitable.
Is there a non-pumper, non-basher, non-trash-talker who has some insight into the real prospects of this company?
Turnaround or bankruptcy. Interesting. Does the PR of 9-10-13 really say that the $800,000 is 100% sold inventory? See my reply to jaymsu1. Could it actually mean that current orders are for much less than that, but $800,000 is the value of what is incoming, most is unsold, but we will try to sell it? Doesn't mean it can't be sold, but makes a difference in assessing risk. I have emailed the company for clarification but no reply yet.
Still pondering. Made too many false assumptions in the past.
cobbtene, don't expect any reply and I don't trust a word coming out of the mouth of this management or BOD. Randazzo has been the most secretive and non-transparent CEO there is. I know several people called her several times and she doesn't return phone calls. They fired every single PR firm. But here is the fact-since 2012, every quarter the company promised to break even during a certain period, never ever came even close, don't believe THEN go check historical 8Ks.
fact-the completion of the merger has been promised 1. deadline-October 1, 2012, second deadline February 2013, and third deadline "third quarter of 2013"............you don't trust me go and check historical PRs and you will see every word I said here is truth. Well, at the end where is the merger?
Again, the flurry of "activities" right now all about approving and issuing those 400 million shares and playing CEO/directors.
1. More $4 million in debt (check their Balance Sheet)
2. More than $2 million owed to suppliers and those 2 million were taken to the court and there is a judgement against WEST so the moment any cash avail. Suntech and Lightway call for it, from the stand point of ethics how can you operate and have a reputation, if you don't even pay your suppliers (oh sorry they did pay in worthless shares), instead they used cash to pay management salaries.
3. They have never came out about the details of the "so-called merger", why didn't they pull the plug early when PWC horrified about CBD financial statements, why didn't they pull the plug when CBD missed first deadline, why they didn't pull the plug when CBD refused to pay Westinghouse fees, why didn't they pull the plug when CBD sent a kid with a language degree to be in charge of Nasdaq listing (the same kids who cost CBD millions of write-offs in China earlier), they didn't they pull the plug when CBD missed a second deadline, why didn't they sue CBD for all this.....THE SAME PEOPLE STILL THERE trust them? I don't, I can go on IMO
My take on that PR is like this: with pending annual meeting of shareholders and crucial vote looming, management wanted to present seriousness of its intentions. Whether it happens or not, hard to say, too many unknowns and too much of negative past.
Founded in 2001, WEST seems to have achieved by 2013 the status of a start-up marketing company importing solar panels from a manufacturer in China, hoping to break into the US market. It has a disadvantage which most start-ups do not have of liabilities significantly exceeding assets (balance sheet 6-30-13).
I am trying to find reasons to buy but remain apprehensive. Does anyone know if the $800,000 worth of incoming inventory is for actual customer orders or will it be sitting in a warehouse in the hope that someone will buy something?
I am disappointed because I was hoping I had found a good opportunity.. I called a solar panel distributor who lists 28 competing manufacturers plus WEST. They tried selling the WEST product but could not so they have given up on it. I expect its name will soon be removed from their site. In their opinion it was just an ordinary made in China panel with the Westinghouse name on it.. They believe it is not easier to install than competitors' and costs more because it's cheaper to buy the parts separately.. So having an "award winning" inbuilt inverter is not any advantage. Whatever brand name recognition advantage came from "Westinghouse" is now lost because WEST could not afford to pay the annual licensing fee which one article said was $1 million or so.
Management shows no evidence of being above average. If "it expects to ship to customers by the end of the fourth quarter of this year" $800,000 of inventory, that is good, and may keep the company going for now but is not of itself a reason to expect future strong growth in market share and pps.
I am unable to find a reason to buy Andalay Solar with apparent below average management talent, an apparently passive BOD, and plenty of marketplace competition. If someone knows of a reason that I do not see, please let me know. Otherwise, I see no reason to visit this board ( no offense intended).
Everyone has their own opinion. That is life and business. I have suppliers I can't stand but that i'm sure other love in my business. It's just business. Curious, who was the distributor? When were they trying to sell west panels? Panels from the old supplier or new?
Then that rules out go solar. He's a basher. Probably rules me out because I'm long and think its a good buy at "these levels". Heck... Someone is spending $800000 so they could probably Answer best. Sounds like they did with the purchase.