Solarwindow Technologies Inc (OTCMKTS:WNDW) Sinks Like a Stone
It has been a fun trip up the chart for Sularwindow Technologies Inc (OTCMKTS:WNDW) shareholders but it seems the fun and games are over and reality is settling in. After hitting intra-day highs of $3.99 per share last week, Friday’s closing bell left WNDW deflated all the way down to $2.30 per share. In the last trading session the stock dropped 22%.
The company is still feeling the rumbling aftershocks of the so-called ‘webcast’ it put up on its site last Thursday. WNDW promised to show ‘webcast participants’ the company’s proprietary technology in action, generating clean electricity from a window unit. It seems someone over at the company’s PR department is not too familiar with what ‘webcast’ means, because the pre-recorded, pre-montaged video was definitely not one.
There was no live broadcast contained in the video. On the other hand, it did contain a beautiful picture slideshow and a recording of the company’s technology lighting up what looked like a row of LED lights. This was all garnished with grandiose promises of outperforming rooftop solar “50-fold”. Admittedly, the video states that the solar window technology is “engineered” to do that, it never claims that it actually does it at this point in time.
Investor response to the much-anticipated video was immediate and unambiguous. WNDW dropped within minutes of announcing the video in a press release, reversing dramatically on the charts and ending Thursday 22% in the red.
WNDW had the following to show for itself as of its latest quarterly:
- $69 thousand in cash
- $2.4 million in current liabilities
- ZERO in revenues since inception
- $1.5 million in quarterly net loss
When the solar window technology will be commercialized is a mystery. The latest quarterly states that WNDW “cannot accurately predict” the amount of time or funds required to bring its tech to market. With this hazy goal, limited cash and a disappointing video that sent the ticker 40% down the charts, WNDW may still be in for a rough ride.
