Welcome!

News Feed Item

WindStream Technologies' Response to Misleading Information Being Disseminated Online

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:

http://jamaica-gleaner.com/gleaner/20130914/lead/lead1.html

http://jamaica-gleaner.com/gleaner/20140530/lead/lead4.html

http://www.jamaicaobserver.com/business/JPS-spends-US-millions-to-distribute-eco-energy-products-to-Caribbean-markets_15757634

http://www.jamaicaobserver.com/business/JPS-buys-more-solar--wind_16794727

http://jamaica-gleaner.com/gleaner/20131031/news/news1.html

http://www.jamaicaobserver.com/business/Windstream-Technologies-aims-for-US-120m-in-renewables-in-Ja_16435796

Recent Press through our distribution agreement in the Cayman Islands:

http://www.cayman27.com.ky/2014/07/02/the-future-of-energy-in-cayman

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.

Sincerely,

Dan Bates
President, CEO and Founder

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
We are always online. We access our data, our finances, work, and various services on the Internet. But we live in a congested world of information in which the roads were built two decades ago. The quest for better, faster Internet routing has been around for a decade, but nobody solved this problem. We’ve seen band aid approaches like CDNs that attack a niche's slice of static content part of the Internet, but that’s it. It does not address the dynamic services-based Internet of today. It doe...
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
SYS-CON Events announced today that Numerex Corp, a leading provider of managed enterprise solutions enabling the Internet of Things (IoT), will exhibit at the 19th International Cloud Expo | @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Numerex Corp. (NASDAQ:NMRX) is a leading provider of managed enterprise solutions enabling the Internet of Things (IoT). The Company's solutions produce new revenue streams or create operating...
Qosmos has announced new milestones in the detection of encrypted traffic and in protocol signature coverage. Qosmos latest software can accurately classify traffic encrypted with SSL/TLS (e.g., Google, Facebook, WhatsApp), P2P traffic (e.g., BitTorrent, MuTorrent, Vuze), and Skype, while preserving the privacy of communication content. These new classification techniques mean that traffic optimization, policy enforcement, and user experience are largely unaffected by encryption. In respect wit...
While DevOps promises a better and tighter integration among an organization’s development and operation teams and transforms an application life cycle into a continual deployment, Chef and Azure together provides a speedy, cost-effective and highly scalable vehicle for realizing the business values of this transformation. In his session at @DevOpsSummit at 19th Cloud Expo, Yung Chou, a Technology Evangelist at Microsoft, will present a unique opportunity to witness how Chef and Azure work tog...
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, will discuss the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports. The session will include a working demo and a technical d...
SYS-CON Events announced today that Isomorphic Software will exhibit at DevOps Summit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, cutting-edge enterprise web applications for desktop and mobile. SmartClient combines the productivity and performance of traditional desktop software with the simp...
Between the mockups and specs produced by analysts, and resulting applications built by developers, there exists a gulf where projects fail, costs spiral, and applications disappoint. Methodologies like Agile attempt to address this with intensified communication, with partial success but many limitations. In his session at @DevOpsSummit at 19th Cloud Expo, Charles Kendrick, CTO at Isomorphic Software, will present a revolutionary model enabled by new technologies. Learn how business and deve...
DevOps at Cloud Expo – being held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Am...
Although it has gained significant traction in the consumer space, IoT is still in the early stages of adoption in enterprises environments. However, many companies are working on initiatives like Industry 4.0 that includes IoT as one of the key disruptive technologies expected to reshape businesses of tomorrow. The key challenges will be availability, robustness and reliability of networks that connect devices in a business environment. Software Defined Wide Area Network (SD-WAN) is expected to...
Developing software for the Internet of Things (IoT) comes with its own set of challenges. Security, privacy, and unified standards are a few key issues. In addition, each IoT product is comprised of (at least) three separate application components: the software embedded in the device, the back-end service, and the mobile application for the end user’s controls. Each component is developed by a different team, using different technologies and practices, and deployed to a different stack/target –...
SYS-CON Events announced today that Hitrons Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Hitrons Solutions Inc. is distributor in the North American market for unique products and services of small and medium-size businesses, including cloud services and solutions, SEO marketing platforms, and mobile applications.
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
Enterprises have forever faced challenges surrounding the sharing of their intellectual property. Emerging cloud adoption has made it more compelling for enterprises to digitize their content, making them available over a wide variety of devices across the Internet. In his session at 19th Cloud Expo, Santosh Ahuja, Director of Architecture at Impiger Technologies, will introduce various mechanisms provided by cloud service providers today to manage and share digital content in a secure manner....
As the world moves toward more DevOps and Microservices, application deployment to the cloud ought to become a lot simpler. The Microservices architecture, which is the basis of many new age distributed systems such as OpenStack, NetFlix and so on, is at the heart of Cloud Foundry - a complete developer-oriented Platform as a Service (PaaS) that is IaaS agnostic and supports vCloud, OpenStack and AWS. Serverless computing is revolutionizing computing. In his session at 19th Cloud Expo, Raghav...