You are making my point! If good earnings are not reported until 2014 or 2015, than this is dead money till then. I could put money to work on stocks that are moving higher now, and reporting good earnings now
1.Next earnings report?
2. An announcement of a major new contract
3. An announcement from the Chinese government that they will have new subsidies for wind power.
4. Anything else?
I think you are off on your analysis. They just appointed two new Western trained directors. Why do that if they want to re-list in china?
Short sellers are still at it, selling 100 or 200 share lots every 15 seconds. Also, large blocks are being sold, probably by investors discouraged by the conference and their inability to even hint when they might turn a profit. But the book value of this is what? A lot higher than 1.87 cents a share. And the Chinese government will announce, sooner or later, some new incentives for wind power.
There were only 3 questions and a fourth answer to the first question.
1st question: When will MY become profitable. It was asked in a kind of aggressive manner, as if the investor who asked had lost quite a bit of money.
Answer: we really can't answer that question. But you can see that we are getting lots of new contracts, so someday, we will make money, but I can't tell you when that day will arrive.
2nd question: When are we going to see some returns form the India deal?
Answer: there are lots of expenses right now on the Indian operation, which is hurting our current earnings, but someday, we hope to sell something. Maybe in the middle of 2014.
3rd question: Why are the transportation expenses so high?
Answer: the roads are really bad and the distances long!
Finally the chairman wanted to answer again the first question. The answer, as translated by the woman trying to speak english, was completely incomprehensible.
Why did I ever buy this stock?
That is my question to me.
Answer: I guess I liked the field they were in, and I had never heard one of MY earnings calls before.
But it might go even lower.
Curiously, the only hope I have for my remaining shares are the shorts. I'm guessing there are 2-3 million after all the shorting the last few days. They might want to all cover around here, if they are not too greedy. That's lots of buying.
Here's the problem. Lots of orders, but they seem to have a capacity limit, so they are not filling the orders fast enough. And the ones they are filling, they seem to be selling them under costs. I don't see the light at the end of the tunnel here. I sold half of my position at the opening. Will wait for the conference call to see if there is something positive there.
I was guessing they were shorting out of ignorance. I was wrong. Chinese companies have a way of leaking news before they come out. Clearly these earnings were known before hand.
Selling at 2.21 with half an hour to go. Shorts are not going to want to stay short with earnings tomorrow. I'm guessing lot's of action on the buy side as we get near the close.