Read the latest interims.......just make sure that you are sitting down.

Err, seem to have a few cash flow problems, burnt through the $120m and now off to the bank for another loan. Any slowdown in revenues due to manufacturing problems (expirenced already) or reduction in sales and they could be in trouble. But to be honest I don't really give a stuff either way.

Well after wading through all the puffery at the top of the accounts if one looks at the cash flow statement theres nothing there that as changed from quater three.

Cash outflow on working operations of just over 14 million. And a ever rising inventory.

Little wonder they need further banking arrangements on top of the bond issue.

Some across the road are not looking at the finer detail.

On 16 February 2007, the Company indicated that the consolidated profit before
and after tax for 2006 would be in the range of US$22-23 million. Reported
profit before tax is US$22.8 million. Total IPO costs were US$4.1 million, of
this amount US$0.4 million has been charged against profit for the year and
US$3.7 million against the share premium account.

Can anyone find any mention on margins which were dropping last quarter?.

How on earth this one as got away without it being called a profit warning is mind bogling.

No met up with any of the Brokers forecasts.

in that case, y is sp defying gravity?

It's like throwing a ball up cynic - that point where it seems to slow and stop at the top - we know what happens next!

hope so as have just shorted at 544

goldfinger, hope you don't mind, just posted your post elsewhere.

No probs GH.

brave man cynic, i do agree however.

hope it's no more brave than telling you all to buy DOM as few weeks back

Pulled my order earlier, but having another go now.

Lifted from another board Evils as just given his opinion...

Of course the company is profitable and seems pretty confident but I would point out that, once again., a headline pre-tax profit of $22 million for 2006 did not mean that cash was generated. The cashburn was $14 million. Why is Renesola so unable to generate cash? Moreover is a 550 million market value really justified on the basis of 11 million pre-tax profit? I stay short.

as the then lovely Randy Mice-Davis said, "Well, he would say that, wouldn't he?" ...... but i too (now!) hope he is right

Cynic, latest details I have from Broker Ambrian seem to suggest he is right.

There target is 4.55p per share.

Ambrian have raised their target from hold to buy today.

Im very suprised GH given the confirmation of the cash outflow. What price target are they aiming for now please?.

Motech are now setting up their own wafer plant in China. There is no barriers to entry, and with Motech pumping in 200m$ into a new facility in China, the future of wafers is perhaps looking very diluted. Thats the trouble, the Broker forecasts are concentrating on SOLA capacity, not on forward capacity in the market.

My order was filled and now officially short, will keep a close eye on proceedings and either close if it gets into trouble or add if it continues to drop.

Oh and in profit already :)

pth

at what level did you manage to short? ..... perhaps we can hold hands .... lol!

544.5 Cynic, bettered you by half a tick. Best I don't hold hands with you though!! 560 with any volume and I'll be out. If (when?) it continues to come off I'll add a new position every 15 ticks. Well be interesting to see what happens on Monday and any upgrades/downgrades following the Results. I wouldn't take any notice of the house broker though, they are bound to be bullish.

pth