This is no surprise. I had the opportunity to tour this company last Fall. In short, it is run by rookies. They have a sound product but lack progressive thinking in many functional areas. Here is a company that has been around for approximately 35 years. Ahead of their time, so to speak. They have flirted with the big 'B' on several occasions - if history is an indicator of the future I suggest to RUN while you can.
>an eps of minus $0.06 --- this with 43million more outstanding common shares than last quarter?? yet loss for the quarter dropped??<
Increasing the number of shares reduces the loss per share giving a false sense of progress. Profitability was supposed to happen in the 2003-2005 timeframe. I asked Jerry Leitman the profitability question at the 2000 annual meeting at Torrington, CT.
I would like to point out that the current run rate and backlog do NOT include the 120MW follow on order from POSCO because it isn't signed yet. If they sign this quarter is indicate, that will increase the pipeline by 125%, and give them the security to ramp up production further. It doesn't matter whether they make the cells or POSCO, either the positive gross margin or the license fees will go to cover overhead, eventually leading to profit.