Going a way for 4 days will check in back in on Sat,take care!
This stock can jump easy with this very small float!
Form 8-K for ENERGY FOCUS, INC/DE
Results of Operations and Financial Condition
Item 2.02. Results of Operations and Financial Condition.
This Current Report on Form 8-K is being furnished under the Securities and Exchange Act of 1934, as amended, by Energy Focus, Inc. (the "Company") to provide information regarding the quarter ended June 30, 2014 that was also set forth in Amendment No. 1 to the Company's registration statement on Form S-1 (File No. 333-196140) filed on the date hereof under the Securities Act of 1933, as amended.
The Company is in the process of finalizing its results for the second quarter of 2014. Based on information available to date, the Company preliminarily estimates the following:
? Sales will be between $6.3 million to $6.7 million (unaudited) for the second quarter of 2014, which would represent a sequential growth of 29% to 37% over the first quarter of 2014; and
? Results for the second quarter of 2014 will show continued improvement in gross margins.
The Company has provided estimates for its preliminary results described above because its financial closing procedures for the second quarter of 2014 are not yet complete. The Company currently expects that its final results will be approximately as described above. However, the estimates described above are preliminary and represent the most current information available to management. Therefore, it is possible that the Company's actual results may differ materially from these estimates due to the completion of its financial closing procedures, final adjustments and other developments that may arise between now and the time its financial results for the second quarter of 2014 are finalized. Accordingly, you should not place undue reliance on these estimates. The preliminary financial data for the second quarter of 2014 included in this Current Report has been prepared by, and is the responsibility of, the Company's management.
In addition, based on the current expectations of management, the Company anticipates that EBITDA (earnings before interest, taxes, depreciation and amortization) will be positive for the second half of 2014. However, it is possible that the Company's actual results for the second half of 2014 may differ materially from the Company's expectations because of developments that may arise between now and the time its financial results are finalized for the 2014 fiscal year.
This Current Report includes forward-looking statements within the meaning of the federal securities laws with respect to the Company's future operations and, as such, concerns matters that are not historical facts. These forward-looking statements can generally be identified by the use of forward-looking terminology, including the terms "believes," "estimates," "anticipates," "expects," "feels," "seeks," "forecasts," "projects," "intends," "plans," "may," "will," "should," "could" or "would" or, in each case, their negative or other variations or comparable terminology. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in such statements, including, but not limited to, growth in the markets into which Energy Focus sells; conditions of the lighting industry and the economy in general; the amount and timing of net sales growth; changes in or unexpected operating expenses; gross product margin improvement; sources of net sales; anticipated revenue from government contracts; product development and enhancements; liquidity, ability to generate cash and cash reserves; our reliance upon a limited number of customers; our accounting policies; the effect of recent accounting announcements; the development and marketing of new products; relationships with customers and distributors; relationships with, dependence upon, and the ability to obtain components from suppliers; our ability to compete in our current and target markets; the evolution and future size of those markets; seasonal fluctuations; plans for and expected benefits of outsourcing and offshore manufacturing; trends in the price and performance of light-emitting diode ("LED") lighting products; the benefits and performance of our lighting products; the adequacy of our current physical facilities; our strategy with regard to protecting our proprietary technology; and our ability to retain qualified employees. Refer to Energy Focus, Inc.'s filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2013, its quarterly reports on Form 10-Q, and other periodic filings for further description of the foregoing and other factors that could cause actual results to differ materially from those in the forward-looking statements. The forward-looking statements speak only as of the date hereof. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
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That is just a guess.We all know we will need some news to support the price.
My Ask is showing 5.20 bid 5.05 .Should be able to trade stock!
Not sure have not looked at except earlier.That was showing me with 1/10 shares at same price when it had closed as EFOI which was showing a big lose .I expect we will see real price on our accounts.
Yes see it is up! Not sure which board people will use .We will at some point drop the D and become EFOI again.
Energy Focus, Inc. Strengthens Its Board With the Election of Two New Directors
Energy Focus, Inc. 11 minutes ago
SOLON, Ohio, July 21, 2014 (GLOBE NEWSWIRE) -- Energy Focus, Inc. (EFOID), a leader in LED lighting technologies, today announced the election of two new directors, William Cohen and Xin (Adam) He, to its Board of Directors.
At its annual meeting of stockholders held on July 15, 2014 at the Company's headquarters in Solon, Ohio, stockholders elected seven members to serve on the Company's Board of Directors, including new members William Cohen and Adam He.
"We are privileged and excited to have Bill and Adam join our Board of Directors," said James Tu, Executive Chairman and Chief Executive Officer of Energy Focus, Inc. "Bill Cohen is a successful CEO of a global manufacturing and distribution business, an avid serial entrepreneur and a dedicated philanthropist. His business acumen and extensive networks derived from many years of experience in sales, marketing and manufacturing across the U.S. and the world will be invaluable resources for us as we expand our business lines, client base and geographical footprints. And as a stockholder of Energy Focus himself, Bill is anxious to contribute to the growth and success of Energy Focus."
"Adam He adds to our Board's global financial and auditing bench strength," continued Mr. Tu. "As a Certified Public Accountant in both the United States and China, Adam brings to us long-term, well-rounded experience in corporate finance functions for publicly traded companies from both countries. His understanding of risk management, financial control, and cross-border mergers and acquisitions will aid us as we look to strengthen our collaborations with global supply and marketing partners, and to identify and evaluate M&A opportunities."
"On behalf of the rest of the Board Directors and our shareholders, we welcome Bill and Adam to our Board of Directors. We very much look forward to having their enthusiastic and insightful contributions to help facilitate our significant and sustainable growth ahead," concluded Mr. Tu.
About William Cohen
Mr. Cohen has served as the Chief Executive Officer of Dillon Yarn Corporation since February 2011, and President from October 1996 to February 2011. Dillon Yarn Corporation manufactures and distributes filament yarns, fabrics, flake, chip, staple fiber and non-woven fabric to many segments of the textile industry, including medical, technical, industrial, automotive, home furnishing and apparel. Mr. Cohen is also Chairman and Chief Executive Officer of Atlas Oral Health Care LLC, Chairman and Chief Executive Officer of GAWI, LLC d/b/a Arctic Ease, a Partner in Fabricated Metals and Commodore Factors, and President of Morristown Helicopter Services Inc. He is a member of the Tel Aviv University Board of Governors and Chairman Emeritus of American Friends of Tel Aviv University. Mr. Cohen attended C.W. Post of Long Island University.
About Xin (Adam) He
Mr. He has served as Deputy Chief Financial Officer of AMC Entertainment Holdings, Inc. since May 2012, a publicly traded company principally involved in the theatrical exhibition business owning and operating theatres primarily located in the United States. From December 2010 to May 2012, he served as Financial Controller of Xinyuan Real Estate Co., a publically traded developer of large scale, high quality residential real estate projects. From August 2009 to December 2010, Mr. He served as Chief Financial Officer of China International Transportation Holding Group, a shipping and logistics company. Previously, Mr. He served as an auditor at Ernst & Young, LLP. Mr. He obtained a Master of Science in Taxation from Central University of Finance and Economics in Beijing, and a Master of Science in Accounting from Seton Hall University. He is a Certified Public Accountant in the United States and in Peoples' Republic of China.
About Energy Focus, Inc.
Even though there has been promising news out there with banks these stocks have fallen on there face! Could they run again sure someday.I will be watching to possibly add shares!
Thanks,have a nice weekend also! I will be out of town Tuesday thru Friday. I won't be around a computer for 4 days so I will log back on Saturday hope I see something positive!
9 shares so not sure what is up. Lets see what happens when the D gets dropped!
I see 4 shares. I am not sure how long it will take for the D to drop at the end of EFOI
Not sure what that is about.My TD ameritrade is not showing yet EFOID
I hub showing ask 6 dollars bid 4 dollars. Earlier bid there showed 3.:50 I believe these may not be true numbers.