|By Marketwired .||
|July 7, 2014 07:00 AM EDT||
NORTH VERNON, IN--(Marketwired - July 07, 2014) - WindStream Technologies has issued the following letter:
Dear WindStream Shareholder,
I would like to take the opportunity to address recent negative and misleading anonymous articles about our company that were posted on a financial website(s). Before doing so, I will briefly update you on our progress to date.
I started WindStream in July of 2008 with the goal of creating a technology that would fill a need in the urban marketplace for a low cost, highly efficient, small wind technology. My colleagues and I designed, prototyped, tested and deployed a first-of-its-kind, fully integrated "hybrid" wind and solar distributed energy solution. We were able to perform all of the research and development with the support of Purdue University and a grant from the State of Indiana. Our technology, which is now fully patented, can be seen all over the world on residential, commercial and Government buildings, producing cheap, clean, renewable energy.
We have introduced the Company's products into markets not only in the United States, but in developing economies where energy is inconsistent or non-existent or where energy costs are many times greater than those in the U.S. These emerging economies represent a huge business potential for WindStream and as such have become the core focus for the Company.
Here are some of the more significant events of the past year (more detailed explanations can be found in the "Company 2014 Roadmap" on our website, http://ir.windstream-inc.com/press-releases/detail/4/a-global-opportunity-windstreams-2014-roadmap)
1) June 2014: The Company received a $2 million working capital line of credit through GBC International Bank of California, backed by the Company's $4 million Exporters Insurance Policy with the Export-Import Bank of the United States (EXIM Bank). http://finance.yahoo.com/news/windstream-technologies-secures-2mm-working- 110000577.html
2) June 2014: The Company opened offices in India to support sales and international growth. http://finance.yahoo.com/news/windstream-technologies-opens-india-office-110000625.html
3) In 2014 we received a second order from JPS for $8 million, bringing the JPS sales to over $22 million worth of purchase orders, which the Company is currently delivering on. http://finance.yahoo.com/news/8-100-000-po-windstream-130000097.html
4) April 2014: The Company signed with Burnham Financial, the prestigious investment bank, to secure the needed funding to help facilitate our global growth strategy. http://finance.yahoo.com/news/windstream-technologies-signs-burnham-securities-210756845.html
5) Q3 2014: The Company will begin a pilot program with BBNL, for a $4 billion broadband hotspot initiative in India.
6) Q3 2014: The Company will submit a bid for a $620 million rural electrification program in Peru.
7) In September of 2013, WindStream partnered with Jamaica Public Service Co. (JPS), Jamaica's billion-dollar utility company, to be our exclusive distributor in Jamaica and throughout the Caribbean. This press release can be found on the JPS Website: http://www.myjpsco.com/news/jps-to-ink-historic-deal-to-distribute-renewable-energy-hybrid-in-jamaica-and-the-rest-of-the-caribbean/
8) In late 2013, the Company received a strategic investment from a member of the Saudi royal family. This entity will control the distribution rights for all of the GCC countries.
9) In 2013, WindStream successfully completed a pilot with India's billion-dollar cement manufacturer, ACC Limited, and are now planning an 8MW rollout.
The recent malicious articles that were published by anonymous author(s) undermine all of the hard work and progress achieved by all of us at WindStream over the past 6 years.
To have been successfully vetted by two different billion dollar companies, JPS and ACC, as well as many other companies and individuals located all over the world is something we are very proud of and no author(s), especially individuals who choose to stay anonymous, can ever take that away from us.
No one at WindStream has ever been contacted by the author(s) of these articles, who freely admit that they will be taking short positions on the stock. I believe these articles were written with one goal in mind: to cast WindStream Technologies in a negative light in order to depress the stock price for their own financial gain.
Specific Examples of Factual Inaccuracies
The articles suggest that the JPS purchase orders are not real.
In fact, a simple search on the JPS website or Google will prove differently. The proof that the JPS deal is real, exists and is freely available had the author(s) taken the time to vet the Company and public statements, but that would go against everything the short authors were trying to achieve.
JPS has done an outstanding job in promoting the WindStream products and we are proud to have partnered with such a fine company. Here are links to some of the television commercials JPS has run on Jamaican TV promoting the WindStream products:
No More Fuel Charges: http://www.youtube.com/watch?v=82lJqkfYwuo
Easy to Own a SolarMill from the eStore: http://www.youtube.com/watch?v=8cX0KvVKErI
Take Control of High Fuel Costs with Energy Solutions from the eStore: http://www.youtube.com/watch?v=2AmQa0c2dK4
Why Choose a SolarMill: http://www.youtube.com/watch?v=GDva4eTWeh8
A simple Google search has produced the following links to articles in traditional print media:
Recent Press through our distribution agreement in the Cayman Islands:
An article claims that an "SEC halt risk appears high."
In fact, the Company has complied with all SEC regulations and reporting, is generating revenue, and is in good standing.
In fact, the accusation of the existence of a material risk of an SEC halt is not supported by any evidence. The Company has not been contacted by any regulator with respect to any inquiry or investigation nor any impending, planned or even threatened halt.
In fact, the company's "super 8-K" was recently reviewed extensively by the SEC and was cleared.
An article alleges that 7.8 million shares have "mysteriously disappeared."
In fact, Vanguard Financial Trust (VFT), our single largest investor, is an insider and cannot sell its position. VFT currently holds every share purchased, which is 9.9 million shares with warrants totaling 2.8 million shares. Those disclosures have been made by VFT and the Company.
In fact, the article is incorrect in its representations of share amounts, history of purchases and assertions of a divestiture. Either the author(s) does not know how to read public filings or has elected to ignore the public filings containing the correct information.
An article contends that contracts, distribution agreements and past pilot successes with ACC Limited, Meytek Group, Key City Trading, Suka Wind & Solar, Senan Liberia, Inc., Africa Energy Limited and Viza Networks, Limited are not real and states "as is often the case with P&D's, most of these customers are located in emerging markets."
In fact, had the author(s) contacted the Company, all contracts for the above agreements would have been made available. The one thing the author(s) did get right is that they are in emerging markets where energy is inconsistent and/or non-existent -- a good place for a low cost, distributed energy product.
There are many other factual inconsistencies in the article(s) but these examples show a clear pattern of shoddy and incomplete analysis done by the author(s) in an effort to instill fear in our shareholders and drive the Company's stock price downward for their personal gain. To make such statements in a public forum is the market equivalent of yelling "Fire!" in a crowded theater.
Posting inflammatory articles without support serves no legitimate purpose of informing or protecting the investing public. Instead, we believe it serves the purposes of those who are shorting the Company's stock, a group that apparently, and admittedly, includes the author(s) of the article(s), whomever they may be.
The Truth about WindStream Technologies
The Company has a robust order book and pipeline. Our 50,000 sq. ft. manufacturing facility in Indiana is fully operational and currently employs over 30 Americans. We have perfected our production processes allowing us to produce products that have one of the lowest "installed cost per watt" in the clean energy space, giving us a clear advantage in the marketplace.
Our team of hard working men and women are committed to making great products for a worldwide marketplace and they are passionate about what they do.
We are an American company providing American products and American jobs and that cannot be taken lightly. What we have achieved at our price point by employing Americans is something all of us are very proud of and no one can take that away from us.
WindStream Technologies is by no means the first public company that has had to deal with an attack from groups that short stocks and try to artificially manipulate the price of that stock to their own benefit. Unfortunately, we are dealing with this challenge just as we are trying to focus on building a business on sound fundamentals for the benefit of everyone involved in the Company. It is a shame to see this effort jeopardized by a few greedy individuals who write mis-leading information under anonymous names.
We are currently working with our attorneys to have these articles removed due to the inaccuracies contained within them.
In writing this letter I ask only that you seek the truth about WindStream Technologies from legitimate sources, those that have been filed as public documents (all posted on our website) or from individuals directly involved with the Company. WindStream has a policy of transparency, which we will honor at all times.
I hope that I have given you a better understanding of the Company, our projects and our desire to build great products that will have value to our customers and increase our shareholder value at the same time. This has been an unfortunate episode that the Company has had to endure and I sincerely hope that it is now behind us and that we can focus on building a business, which will grow and flourish.
Thank you very much.
President, CEO and Founder
Identity is in everything and customers are looking to their providers to ensure the security of their identities, transactions and data. With the increased reliance on cloud-based services, service providers must build security and trust into their offerings, adding value to customers and improving the user experience. Making identity, security and privacy easy for customers provides a unique advantage over the competition.
Sep. 29, 2016 06:15 PM EDT Reads: 3,657
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of So...
Sep. 29, 2016 06:00 PM EDT Reads: 1,531
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management solutions, helping companies worldwide activate their data to drive more value and business insight and to transform moder...
Sep. 29, 2016 05:15 PM EDT Reads: 2,848
SYS-CON Events announced today that eCube Systems, a leading provider of middleware modernization, integration, and management solutions, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. eCube Systems offers a family of middleware evolution products and services that maximize return on technology investment by leveraging existing technical equity to meet evolving business needs. ...
Sep. 29, 2016 05:15 PM EDT Reads: 1,573
Personalization has long been the holy grail of marketing. Simply stated, communicate the most relevant offer to the right person and you will increase sales. To achieve this, you must understand the individual. Consequently, digital marketers developed many ways to gather and leverage customer information to deliver targeted experiences. In his session at @ThingsExpo, Lou Casal, Founder and Principal Consultant at Practicala, discussed how the Internet of Things (IoT) has accelerated our abil...
Sep. 29, 2016 04:45 PM EDT Reads: 2,775
SYS-CON Events has announced today that Roger Strukhoff has been named conference chair of Cloud Expo and @ThingsExpo 2016 Silicon Valley. The 19th Cloud Expo and 6th @ThingsExpo will take place on November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. "The Internet of Things brings trillions of dollars of opportunity to developers and enterprise IT, no matter how you measure it," stated Roger Strukhoff. "More importantly, it leverages the power of devices and the Interne...
Sep. 29, 2016 04:45 PM EDT Reads: 3,430
Digital innovation is the next big wave of business transformation based on digital technologies of which IoT and Big Data are key components, For example: Business boundary innovation is a challenge to excavate third-party business value using IoT and BigData, like Nest Business structure innovation may propose re-building business structure from scratch, as Uber does in the taxicab industry The social model innovation is also a big challenge to the new social architecture with the design fr...
Sep. 29, 2016 04:30 PM EDT Reads: 1,339
Whether they’re located in a public, private, or hybrid cloud environment, cloud technologies are constantly evolving. While the innovation is exciting, the end mission of delivering business value and rapidly producing incremental product features is paramount. In his session at @DevOpsSummit at 19th Cloud Expo, Kiran Chitturi, CTO Architect at Sungard AS, will discuss DevOps culture, its evolution of frameworks and technologies, and how it is achieving maturity. He will also cover various st...
Sep. 29, 2016 04:30 PM EDT Reads: 1,947
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, provided tips on how to be successful in large scale machine learning...
Sep. 29, 2016 04:00 PM EDT Reads: 2,382
If you had a chance to enter on the ground level of the largest e-commerce market in the world – would you? China is the world’s most populated country with the second largest economy and the world’s fastest growing market. It is estimated that by 2018 the Chinese market will be reaching over $30 billion in gaming revenue alone. Admittedly for a foreign company, doing business in China can be challenging. Often changing laws, administrative regulations and the often inscrutable Chinese Interne...
Sep. 29, 2016 04:00 PM EDT Reads: 470
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
Sep. 29, 2016 03:45 PM EDT Reads: 2,195
In his session at @ThingsExpo, Kausik Sridharabalan, founder and CTO of Pulzze Systems, Inc., will focus on key challenges in building an Internet of Things solution infrastructure. He will shed light on efficient ways of defining interactions within IoT solutions, leading to cost and time reduction. He will also introduce ways to handle data and how one can develop IoT solutions that are lean, flexible and configurable, thus making IoT infrastructure agile and scalable.
Sep. 29, 2016 03:30 PM EDT Reads: 1,621
Creating replica copies to tolerate a certain number of failures is easy, but very expensive at cloud-scale. Conventional RAID has lower overhead, but it is limited in the number of failures it can tolerate. And the management is like herding cats (overseeing capacity, rebuilds, migrations, and degraded performance). Download Slide Deck: ▸ Here In his general session at 18th Cloud Expo, Scott Cleland, Senior Director of Product Marketing for the HGST Cloud Infrastructure Business Unit, discusse...
Sep. 29, 2016 03:30 PM EDT Reads: 2,544
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at EMC, will introduce a methodology for capturing, enriching and sharing data (and analytics) across the organizati...
Sep. 29, 2016 03:15 PM EDT Reads: 1,787
Internet of @ThingsExpo has announced today that Chris Matthieu has been named tech chair of Internet of @ThingsExpo 2016 Silicon Valley. The 6thInternet of @ThingsExpo will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Sep. 29, 2016 03:00 PM EDT Reads: 2,822