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UQM Technologies Inc. Message Board

  • johnwesleyrattner johnwesleyrattner Aug 7, 2014 1:37 PM Flag

    The good, the bad.

    After listening to the conference call, visiting the Nasdaq site and reading the 10-Q there's both good and bad. UQM appears to be quite a risk with some upside potential.

    The good:

    Institutional ownership has risen from around 11% at the beginning of the year to 17.21 for much of last quarter to 17.67% as of this morning. Of that there are 21 increased positions that amount to 2,371,242 shares bought, there are 6 decreased positions that amount to 91,406 shares sold and there are 18 held positions that amount to 4,684,730 shares. There are 9 new postions amounting to 1,331,495 bought and 2 sold out positions amounting to 48,200 shares.

    Half of all companies (from the cc, I think that number is 18) that stand to benefit from California's EV incentive program use UQM motors.

    The customer base is broader.

    Gross profit margins for the quarter ended June 30, 2014 increased to 40.0 percent compared to 34.0 percent for the quarter ended June 30, 2013.

    No debt (by what was said in the conference call).

    Damn good motors. Jack Rickard calls them the "go to" motors for boat and that the Coda was a good car with a decent range and acceptable acceleration (but with an ugly body).

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    • You know, record companies rejected the Beatles and The Rolling Stones for various reasons. It takes genius to pick 'em before they're successful. It just takes one contract, and all the fine microscopic details don't mean a damn thing anymore. Everyone knows they have a great product sitting idle in a mostly empty factory. Do you know how many years the Beatles sludged around Europe is holes doing gigs for almost nothing before they became famous?

    • This is a good. Wells Fargo has never been an owner of stock as long as I've been looking at the Nasdaq records of institutional owners this year.

      By my reckoning that Fargo fella was a plant at the cc earlier this year.

    • There's more of both good and bad, but I'll let others comment as they need or want.

    • The bad:

      The bad:

      Cash and cash equivalents at June 30, 2014 were $9,458,909 and working capital was $19,191,407, compared with $10,247,112 and $20,052,187, respectively, at March 31, 2014. The decrease in cash is primarily attributable operating losses and prepayments on commercial insurance policies . The decrease in working capital is primarily attributable to operating losses. (That ain't much.)

      As of June 30, 201 4 and March 31, 201 4 they had accumulated deficits of $ 95,258,582 and $ 93,948,545 , respectively. (That's just plain scary to me.)

      At June 30, 2014, they had aged inventory of $7.9 million of PowerPhase Pro ® systems on our books originally acquired for now-bankrupt CODA.

      UQM says, "We have a $32.4 million Grant under the American Recovery and Reinvestment Act's Electric Drive Vehicle Battery and Component Manufacturing Initiative with the U.S. Department of Energy. We have received funding of $ 25.4 million under this Grant as of June 30 , 2014. This Grant is subject to terms and conditions specified in the agreement between us and the DOE. We are required to spend on a dollar-for-dollar matching basis in order to receive funds under this Grant. If we are unable to match the total amount of the $32.4 million Grant with funding from non-Federal sources, we will be unable to take advantage of the entire award, and could become ineligible for continued participation in the program. The award may be terminated at any time at the convenience of the government. Although we expect to satisfy the requirements in the Grant, we cannot assure that all of the requirements will be satisfied and the contract will not be terminated prior to receiving all of the proceeds."

      UQM says, "We face intense competition and may be unable to compete successfully."

 
UQM
0.57-0.010(-1.71%)Aug 25 4:02 PMEDT