Seeking Alpha
View as an RSS Feed

Andy Zelenak  

View Andy Zelenak's Comments BY TICKER:
Latest  |  Highest rated
  • SolarCity's Updated Value [View article]
    <<More importantly, how long will investors accept that Shareholder Equity is not increasing?>>

    But it is increasing.
    Feb 21, 2015. 01:47 PM | 3 Likes Like |Link to Comment
  • SolarCity -5.5%; Q4 deployments miss, 2015 outlook maintained [View news story]
    Thanks a lot Bill. Let me crunch the #'s on current equity/share. Q4 2013 was at $10.08/share, Q4 2014 was at $12.38/share. As they said that financing is already mostly in place, hopefully we can expect less dilution in the future (minus the management options that you have already mentioned).

    Are management options accounted for on the balance sheet, I wonder?
    Feb 21, 2015. 12:57 PM | Likes Like |Link to Comment
  • SolarCity -5.5%; Q4 deployments miss, 2015 outlook maintained [View news story]
    I'm not sure I buy your "added share" line of thought. Wouldn't that be dilution and, I certainly hope, not show up as shareholder equity?
    Feb 20, 2015. 10:24 AM | Likes Like |Link to Comment
  • SolarCity -5.5%; Q4 deployments miss, 2015 outlook maintained [View news story]
    Believers in the gospel truth of GAAP should be asking themselves how it is that SCTY reports large and growing GAAP losses every quarter but shareholder equity is growing. It's a really interesting question.

    If the $1.47 loss reflected reality, the company would be out of business in short order.
    Feb 19, 2015. 08:48 PM | 3 Likes Like |Link to Comment
  • SolarCity -5.5%; Q4 deployments miss, 2015 outlook maintained [View news story]
    The significance of financing being in place is that they may not need to take on more debt for 2015, i.e. we are starting to see the self-funded growth that the longs have been waiting for.
    Feb 18, 2015. 09:43 PM | 5 Likes Like |Link to Comment
  • SolarCity -5.5%; Q4 deployments miss, 2015 outlook maintained [View news story]
    Most of 2015 financing is in place, cash grew 11% y/y, GAAP assets grew ~61% y/y, costs are down. (GAAP liabilities grew ~60% y/y). Looks good to me.
    Feb 18, 2015. 06:40 PM | 12 Likes Like |Link to Comment
  • ReneSola: Ready For A Turnaround [View article]
    Roger that, thanks for clarifying.
    Jan 4, 2015. 10:33 PM | Likes Like |Link to Comment
  • ReneSola: Ready For A Turnaround [View article]
    Larry, your numbers are slightly off. Avg poly spot price is $19-20, SOL's all-in production cost at its factory is about $19 (iirc) and their poly cash cost is about $16. Are you short these days or what?
    Jan 4, 2015. 09:55 PM | 1 Like Like |Link to Comment
  • ReneSola: Ready For A Turnaround [View article]
    That's true, but the write-off of the poly plant will possibly result in a $100M-or-more loss according to GAAP. It's also the loss of a competitive advantage.

    Anyway, I think that poly prices are still high enough for SOL to make a profit.
    Jan 4, 2015. 02:53 PM | 3 Likes Like |Link to Comment
  • ReneSola: Ready For A Turnaround [View article]
    It's like the management is making things more difficult than they need to. Stop spending so much!! Is it time for a management change?

    Another gripe:
    If you go to order a product from their website, you can't pay with a credit card. You need to do an international wire transfer. Perhaps they don't realize that the average US consumer won't go through so much trouble. There are also some terms that the average consumer is not familiar with, hence won't be ordering anything from ReneSola. T/T payment term, EXW trade term, etc... That's why I believe they should start selling through Amazon to simplify the process.

    I'll give them one compliment, though- the website is much nicer than it used to be even 6 months ago.
    Jan 4, 2015. 02:31 PM | 1 Like Like |Link to Comment
  • ReneSola: Ready For A Turnaround [View article]
    My take is that it's entirely up to the CEO to decide when SOL becomes profitable. He can turn it profitable at any given quarter by spending less on R&D. Unfortunately, I don't think he's inclined to do so. Their newly-revamped website proudly proclaims, "We continue to explore new ways to improve our product technologies and production processes."

    Sometimes I just want to shake this company's management and ask what the hell they're thinking. They need to stop the cash burn ASAP.

    If the company breaks even, it's a win for the shareholders. I expect another loss in Q4 then a small profit in Q1 as the euro and the yen stabilize. I would sell my small remaining stake to buy TSL but it's tied up in covered calls, so I'll just ride it out.

    Another suggestion would be to start selling their products on Amazon. They actually have some great LED bulbs, but it's difficult to order them through the renesola.us website. The minimum order quantities seem to be 50 or more... far too much for the average consumer.
    Jan 4, 2015. 12:15 PM | 3 Likes Like |Link to Comment
  • Oil And Gas Glut Not Killing Renewable Growth [View article]
    Fantastic article! And an interesting new perspective for me.
    Dec 30, 2014. 12:17 PM | 2 Likes Like |Link to Comment
  • ReneSola Stumbles Again [View article]
    I'm not Seriously concerned, but it could definitely happen in a year or so. I hope that management is seriously concerned.

    Think of the $50M-or-so debt they could have paid off over the last year if they hadn't squandered it on LED and storage R&D.
    Dec 1, 2014. 09:44 PM | 1 Like Like |Link to Comment
  • ReneSola Earnings Preview [View article]
    Never mind... :P
    Nov 26, 2014. 01:23 PM | Likes Like |Link to Comment
  • ReneSola Earnings Preview [View article]
    You should be comparing market caps, not share prices.
    Nov 26, 2014. 01:07 PM | 1 Like Like |Link to Comment
COMMENTS STATS
329 Comments
352 Likes