Solarwindow Technologies Inc (OTCMKTS:WNDW) Turns Red Once More
The two-day push for recovery made by Solarwindow Technologies Inc (OTCMKTS:WNDW) seems to have come to an abrupt end. Yesterday the stock opened with a gap down and proceeded to deflate 12% by the closing bell. Volume cooled off to 272 million shares.
WNDW is a company working towards the commercialization of its solar window technology. The big idea is to have translucent window panelling installed on skyscraper towers and have that panelling generate clean energy. While this is a great concept, WNDW is not quite ready to bring it to market. The company has been working on this technology for a while, with press releases dating back to early 2013 that speak of advancing the technology “towards commercialization”.
According to the company’s latest 10-Q report, WNDW still has no idea when the technology will be successfully commercialized, nor how much more money will be needed to get to that point. With this little clarity concerning the development of the solar window technology, investors can’t be blamed for being reluctant.
WNDW picked up some speed recently, following the announcement of a webcast which was to showcase to the world the solar panels generating clean energy for the first time ever. Sadly, what was announced as a webcast was really a pre-rerorded and edited video, showing a lot of endearing imagery and a few seconds of a string of lights coming on, supposedly powered by the window panel.
The market reacted to the video without delay and in an unambiguous manner – WNDW dropped minutes after the PR containing the video link and ended the session 22% in the red.
With $69 thousand in the bank, no clear idea how much it will cost to commercialize the solar windows, a disappointing video and a price that had previously been inflated to nearly $4.00 per share, WNDW warrants extra caution.