What makes a pioneering solar energy company change its name, ticker symbol and strategy after 36 years?
Real Goods Solar Inc. (NASDAQ:RSOL) has decided to rebrand itself, changing its name to RGS Energy and its NASDAQ ticker symbol to RGSE, effective at the start of trading on Mon., Feb. 24, 2014.
Complete makeover
The Louisville, Colo.-based solar-energy solutions company founded in 1978 has announced this name, ticker and strategy makeover less than two weeks since its Jan. 15 announcement that it acquired Mercury Energy, more widely known as Mercury Solar Systems, in an all-stock transaction totaling about 8.3 million shares of Class A common stock, which recently received shareholder approval.
In addition to valuable physical assets, operational systems and customer base, debt-free Mercury brings to Real Goods Solar $12 million of net working capital, including more than $10 million of cash.
"We plan to use these funds to further accelerate growth in key markets across the country," CEO of Real Goods Solar Kam Mofid, said in a written statement.
So, it appears that this acquisition and the cash infusion it brings with it has boosted Real Goods ambitions to the point that it now sees itself as an energy company capable of providing across-the-board energy services.
"We have also started looking at the entire value chain and how we can better serve our customers. RGS Energy embodies the future strategic direction of our company," Mofid added.
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Solar energy’s earnings per share
However, before investors get carried away with Real Good Solar’s cosmetic and structural changes, it’s important to take a sober look at the books. According to TheStreet, during the past fiscal year, Real Good Solar reported earnings per share of -$1.76 vs -10 cents in the prior year. This year, the market expects an improvement in earnings -34 cents versus -$1.76. While this is certainly an improvement, it’s an improvement on losses not profits.
And while more people every day are embracing solar energy as they do Motherhood and apple pie, the reality is that without government or utility subsidies, the industry would fall flat on its face. A Fitch analyst told Bloomberg Business Week in October of 2013 that rooftop solar energy-efficiency programs being pushed by the government will cut into utility revenue and profit margins and discourage investment in new transmission projects within five years. Still, renewable energy advocates believe it is only a matter of time until the cost of installing solar energy panels on a mass scale will become affordable and therefore one day self-sustainable and profitable
On Jan. 27, RSOL share price closed at $4.20, up 59 cents from the share price of $3.61 the previous day.
Find out what could be the best investor’s move when it comes to RSOL by getting the complete report here, or by cutting and pasting the following link in your Web browser:
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Atossa Genetics Inc. (NASDAQ: ATOS) stock volume soared Monday, Jan. 27, three days after its Friday announcement that it has priced a public offering of about 5.8 million shares at $2.40 per share.
At the close of the market, the Seattle-Wash company involved in the prevention of breast cancer, traded 1,408,025 shares, nearly four times its three-month average of 425,360 shares.
Funding future products
In a release, Atossa Genetics said it has received commitments and indications for about $14 million in gross proceeds. The sale of the units is expected to close on or about Jan. 29, 2014, subject to the satisfaction of customary closing conditions. Each unit consists of one share of common stock and one warrant to purchase 20 cents of a share of common stock.
Atossa said it intends to use the net proceeds of this offering for general corporate purposes, which include, funding its ongoing and future development and re-launch of its ForeCYTE Breast Aspirator when it receives regulatory clearance. It will use the proceeds to also fund the development of other products in the pipeline including our FullCYTE Breast Health Test, NextCYTE Breast Cancer Test, ArgusCYTE Breast Health Test and its planned intra-ductal treatment program.
On Jan. 27, ATOS share price closed at $ 2.48, down 7 cents from the share price of $2.55 the previous day.
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Chelsea Therapeutics International, Ltd. (NASDAQ:CHTP) announced Jan. 27 that it has named Joseph G. Oliveto, who has been serving as the company’s interim CEO since July 2012, its permanent CEO as of Jan. 22.
"Joe has demonstrated thoughtful and steadfast leadership through a demanding period for Chelsea, resulting in important progress for the company and its lead drug candidate, Northera(TM)," Chairman of the Board Dr. Michael Weiser, said in a written statement.
Oliveto’s permanent appointment comes less than two weeks after the Food and Drug Administration's (FDA) Cardiovascular and Renal Drugs Advisory Committee (CRDAC) voted 16-1 to recommend approval of NORTHERA(TM) (droxidopa) for the treatment of symptomatic neurogenic orthostatic hypotension (nOH) in patients with primary autonomic failure (Parkinson's disease, multiple system atrophy and pure autonomic failure), dopamine beta hydroxylase deficiency and non-diabetic autonomic neuropathy.
On Jan. 27 CHTP share price closed at $4.39, down 20 cent from the share price of $4.59 the previous day.
Find out what could be the best investor’s move when it comes to PVCT by getting the complete report here, or by cutting and pasting the following link in your Web browser:
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