Stock Alert for SOEN! March 1, 2007
Stock Market Alerts’ performance stock list includes: Solar EnerTech Corp. (OTCBB: SOEN), United Microelectronics Corp. (NYSE: UMC), Duke Energy Corp. (NYSE: DUK), Dynegy Inc. (NYSE: DYN).
It looks like good news out of Solar EnerTech Corp. (OTCBB: SOEN). Wednesday, after the stock markets closed, the company, a manufacturer of photovoltaic solar energy cells, issued a press release announcing several strategic milestones as it prepares to commence efforts at its R&D Joint Lab.
The company has advised that it recently filed the requisite 10QSB and 10QSB/A regulatory reports with the U.S. Securities and Exchange Commission (“SEC”) detailing events for the critical growth period of October 1 to December 31, 2006, throughout which the Company has achieved the following milestones:
— Start up of production line #1 rolled out the first batch of solar modules on Nov 23rd and concurrently launched SolarE as market identity and brand name. — Successfully completed a $5.6 million financing. — Engaged Knight Capital Markets LLC as advisors. — Released beta version of proprietary Power Conditioning Software. — Inaugurated Joint R&D Lab with Shanghai University
This could add up to great news for investors. These strategic milestones in 2006 have set a solid foundation for the company’s future development and have exceeded initial expectations by virtue of Managements ability to work closely with China’s governmental systems. The Company quickly acquired both its license to conduct business as well as favored tax status from the Chinese government in late July, then went on to complete its facility infrastructure and installation of solar cell equipment culminating in its first product shipment within a mere 5 months. This accomplishment has been acclaimed by members of the local solar industry as a small miracle and has sent a healthy message to the Company’s employees boosting their confidence in their own ability to transform future challenges into success.
The news continues to indicate the company’s progress on all fronts. Due principally to these achievements, Solar EnerTech’s first sales contract was signed in January of this year, which will bring in $9.2 million of revenue. Additionally, the R&D Lab with Shanghai University has launched five significant research projects simultaneously. These developmental experiments are slated to begin in the Joint Lab as well as at Solar EnerTech’s manufacturing plant during the first week of March. This will be the first test of the Joint Labs ability to fast-track R&D initiatives to commercialization.
Investors should continue to watch Solar EnerTech for additional news indicating the company’s progress. In related news, an upsurge of visits by potential buyers from Asia, Europe, and North America have necessitated the Company open an in-house office offering a specially trained multi-lingual team to host visits to the Company’s corporate office and manufacturing plant at Jin Qiao Modern Technology Park. Additionally, as the 2008 Beijing Olympic Games are less than 18 months away, the Company is actively seeking initiatives to assist Olympic organizers and other event stakeholders towards providing ” green power” technology highlighting opportunities geared towards facility and equipment infrastructure, such as venue electrical power supplementation, hybrid vehicle support, lighting solutions, and portable toilet alternative energy sources.
Investors continue to watch this one closely. While traded on NASDQ, Solar EnerTech is a photovoltaic solar energy cell manufacturing enterprise based in Shanghai, China where the Company has established a sophisticated 42,000-square foot manufacturing plant in Shanghai’s Jinqiao Modern Technology Park. This facility is capable of producing 25Mw of solar cells from its current production line and 50Mw when upon completion of the second line slated for Q4 of this year. Solar Enertech has also established a Joint R&D Lab at Shanghai University to research and develop higher efficiency cells and to put the results of that research to use immediately in its manufacturing processes. Led by one of the industry’s top scientists, the Company’s R&D program will work to bring Solar EnerTech to the forefront of advanced solar technology research and production. The Company has also established a marketing, purchasing and distribution arm in Northern California’s Silicon Valley.
Before the news was released, the stock closed Wednesday at $1.01 a share.
For Stock Market Alerts’ in-depth profile of Solar EnerTech, visit http://www.wallstreettradingalerts.com/SOEN022807.html.
Other Stocks of interest yesterday were:
United Microelectronics Corporation (NYSE: UMC) up 2.8% on 11.7 million shares traded. UMC is one of the leading global semiconductor foundries that manufacture advanced process ICs for applications spanning every major sector of the semiconductor industry.
Duke Energy Corp. (NYSE: DUK) up 0.3% on 10.3 million shares traded. Duke Energy Corp. is one of the largest electric power companies in the United States.
Dynegy Inc. (NYSE: DYN) up 2.7% on 6.8 million shares traded. Dynegy Inc. produces and sells electric energy, capacity and ancillary services in key U.S. markets.
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The advertisement is provided by Wall Street Enews, a division of Stock Market Alerts LLC, an electronic broadcaster and publisher of this release, and hereafter referred to as “the company.” The company received compensation for services performed for Solar EnerTech Corp. (OTCBB: SOEN). The compensation is fourteen thousand dollars (in 2007) from third party, Equity Alliance International LLC, who may hold a significant position in the stock. In 2006, the company also received compensation of seventy thousand dollars for services performed for SOEN, from the same third party. Because the company received compensation for its services, there is an inherent conflict of interest in the company statements and opinions and such statements and opinions cannot be considered independent.
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