You called it early, but the under $1 count down and dilution offerings have now started.
STI is now in a mad rush to raise capital before SP is in the pennies.
STI now has two shelf offerings, a S-1 and a S-3, because they used up most of the S-3 already for this year, so the S-1 was filed which has no limit on dilution.
STI no longer meets the NASDAQ Net Income Standard minimum listing as Net Income from Continuing Operations is below $500,000 for 2 of the past 3 years.
My guess is this upcoming dilution will put Stockholders’ Equity below the $2.5m minimum under the Equity Standard.
With the SP below $1 that's strike 3 and SCON adds a delisted prefix (.PK, .OB or .OTCBB).
There is an S-3 registered for up to $50m, $5m was raised in Mar 2015, so $45m is waiting in the wings. The S-3 is limited to only 1/3 dilution per year, so only about 2.7m shares are left for 2015.
This new S-1 is like an IPO, the sky is the limit. An S-1 was used just after the last reverse split in 2013.
On average, after the last reverse split, SCON dilutes 150% per year.
Looks like 2012 again. Aug 21, 2012 close $0.66.
It's obvious, STI didn't expect any progress before cash was diluted, so decided to raise cash before SP was in the pennies.
This is going to be a massive dilution, my guess is around 200%.
Next stop the pink sheets, but while we wait, we must dilute.
This crop of paid shills are morons.
STI is still trying get it's 1st commercial RCE to begin commercial production after more than 10 months of tweaking and needs more cash for tweaking (Frantic and compulsive behavior often associated with methamphetamine abuse)
capturdingestor got its news, massive dilution in 2013, followed by dilution in Mar 2015 and now this upcoming massive tsunami of dilution, which will be followed by Reverse Split number 3.
[Time For Some News! by captechinvestors • Jun 24, 2013 9:28 AM
We are due for news EOM]
Storedot first has get its phone battery to work which is not expected on the market until 2016.
Rodman & Renshaw, acquired by H.C. Wainwright & Co. , has a checkered history.
FINRA fined in 2012 for pay to play violations, later failed to meet capital requirements.
From abcnews: "But many of the Chinese companies being promoted at the Rodman & Renshaw conferences turned out to be suspect. An analysis by ABC News found that 20 of the 40 Chinese companies that presented at the 2010 conference have since lost their listing on U.S. exchanges, and another 10 are trading at below $1 per share."
H.C. Wainwright & Co. the latest of STI's revolving door underwriters, per its website:
"According to Sagient Research Systems, H.C. Wainwright’s team is ranked as the #1 Placement Agent in terms of aggregate PIPE and RD transactions cumulatively since 1998."
PIPE alert, the #1 aggregate PIPE is looking to lay some cumulative pipe.
readthis_n0w, captechinvestors/calrenwick, r2d2_n_c3po/japankokura and other boilerroom scamsters prepare to accommodate H.C. Wainwright and company.
2013 Nov JQ, "During the third quarter we raised the necessary capital to execute on our business plan, which is to exit the second quarter of 2014 with the production capacity necessary to achieve positive cash flow from operations in the second half of 2014." Source: 2013Q3 SA cc transcripts.
STI went though that raise of Aug 2013, then sold its Resonant stake in Sep 2014, then a private placement in Mar 2015.
STI claimed it raised the necessary capital in Aug 2013 for "production capacity", two cash infusions later it claims to need another cash infusion to obtain the same objective it claimed to have achieved it reached in 2013.
Wonder what happened to "positive cash flow from operations in the second half of 2014."
STI still has a S-3 registered with $45m still remaining.
Looks like STI's management knows the jig is up and is cashing out.
The LHA representatives on this board are going to need commercial production of lipstick for this pig.
The current S-1, "We expect to begin commercial production of Conductus wire in late 2015." of course STI expected to begin commercial production of Conductus wire in late 2011, 2012, 2013, 2014 and if STI is around in 2016, it will be expecting commercial production in 2016.
STI is desperate, doesn't expect good news prior to running out of cash, therefor raises cash now which will drive SP south.
STI will be getting a under $1.00 deficiency letter the end of September. STI will cure this deficiency as it has done twice before with another reverse split.
Today's S-1, "We expect to begin commercial production of Conductus wire in late 2015.", STI started to have this expectation in 2011 and subsequent years.
Will the next dilution be at $0.30 ps? Looking like that, as STI has no means to earn revenue, so while we wait, we must dilute.
No ability to commercially produce quantities of HTS wire at a profit or a loss, as commercial RCE is still being tweaked, or investors are being goosed.
Cable demo wire order of Feb 2012 still not qualified, more excuses for delays.
SFCL, per JQ the closet to commercial order still can't get qualified after more than a year of failures.
STI is almost out of cash, as usual.
If no word on cable demo wire by end of August, SP will be heading to the cellar.
I see the impersonator mask_lpx_spx, (using a "l" instead of an "i") has crawled out from under a rock again to deceive, just one of The Lying Robot Boilerroom Scamsters specialized aliases.
[Reply to Let's see how sure R2 is of himself... by hundoghouse •Mar 23, 2011 2:15 PM
r2d2_n_c3po • Mar 23, 2011 4:04 PM
In recent years I might drag out one or two specialize aliases on rare rare occasions. but never routinely. ..."]
Notice japancuckoo deflects. There was only one SFCL install in 2014.
All of the SFCL projects are financed by governments, because the cost benefit ratio is still too high for a market to be established.
There have been only two or three SFCL projects per any given year, not enough business to keep STI out of bankruptcy, just look what happen to Zenergy Power.
Companies get paid for these long term cost plus research projects by governments.
STI use to get government money for cost plus projects, but not longer does, wonder why?
Maybe the US Government suspects a Scam, but not able to prove beyond a shadow of a doubt, but enough not to give government contracts to.
Come on japancuckoo, you sound like a cuckoo clock.
Any other SFCL installations in 2014? What makes you think STI is going to change this market, if they can ever commercially produce. Something they have been promising to do since 2011.
SuperPower Inc. supplied HTS wire to Applied Materials, Inc. for the SFCL for the substation owned and operated by Central Hudson Gas and Electric Corp. (Central Hudson) in New York.
This was the only SFCL install worldwide in 2014. Not much of a market.
Jan 5, 2011 Close $1.55 R/S Adj. $18.60.
Capturningestor just needed a 1:12 R/S to get in over $10 of course the "wait and see" drove the SP down to $0.19 till the 1:12 R/S got it to $2.28.
[No place for Daytraders by captechinvestors • Jan 5, 2011 12:18 PM
L/T trend is up. Hold until at least $10. Any temporary drop in SP is simply MM manipulation to shake out shares from daytraders. Then short covering will help drive SP up in the next wave. For us longs, volatility is our friend! LOL!]
readthis_pump loves large reverse splits.
It's on all fours anticipating the next "large ratio and the sudden implementation"
[Reply to R/S , Low market cap, low float, weak hands gone... by readthis_n0w •Mar 11, 2013 3:10 PM readthis_n0w • Mar 12, 2013 2:43 AM
I did not miss the annual report at all, (i voted for), ratheri had expected a panel hearing extension and if not given a smaller r/s
Although not expected i do like the large ratio and the sudden implementation of it.
1:12 immediately now should sort the 10 days prior to april 1st
And i still expect their 1 km line to be financed by their undisclosed cable partner
With fault current limiter deals before that]
[Reply to STI Advances Development With SFCL Customers by japankokura •Jul 20, 2015 6:33 AM
japankokura • Jul 20, 2015 11:43 AM
i think the ROEBEL cable will not be produced by the RRI, but by GENERAL CABLE, since the RRI is what the name says: a research institute, though they have excellent connections to the business world.
General Cable exited the joint venture General Cable Superconductors in 2014, which is now owned by Victoria University of NZ, as is Robinson Research Institute (RRI).