Hoku Scientific falters - Hawaii Business

Hoku Scientific Inc. warned yesterday it might not be able to raise enough funds to complete construction of its Pocatello, Idaho, polysilicon plant or continue "as a going concern" for the next 12 months, due to challenges it is facing in the credit and equity markets.

[trader]

can't believe i got rid of this crappy stock with a profit!

never again.....

[unfortunate]

$112,000 in revenue for a quarter.

That's less than an L&L

Congrats, Hoku! Another wasted use of 221 funds. The investors got rich and now the state is going to get nothing.

[DTC]

unfortunate wrote:

$112,000 in revenue for a quarter.
That's less than an L&L
Congrats, Hoku! Another wasted use of 221 funds. The investors got rich and now the state is going to get nothing.

Yeah, I wish Governor Lingle would release a report on what the State of Hawaii got in return for these lavish tax credits(other than making her rich friends happy).

[jumpytrader]

You are all jumping to conclusions. These risk warnings have been in every PR/prospectus from day one and Rueters took the PR and CC out of context and did not report the actual facts included in the rest of the PR and conference call. This reporter/ alarmist was in too big a hurry to be the first one with a scoop on it, now all the other news agencies have took it off the wire that way.
Nothing has changed except that to save money the pilot production has been delayed (to save the cost of temporary utillities just for the pilot test run). They intend to do the pilot 3rd quarter aftere utillities are installed.
Prepayments are still coming due and they still have prospects for more contracts and prepayments to complete the plant. Worse case is things take longer but as off now they are still on schedule to produce at the end of year.

[unfortunate]

Whether they are on schedule or not - a publicly traded company generating less revenue than a pizzeria is a joke.

I thought this craziness ended in the dot com days.

[David]

I just do not understand how top management paid themselves six figures a year when revenue did not support their compensation.

[tweet snort]

David wrote:

I just do not understand how top management paid themselves six figures a year when revenue did not support their compensation.

Ummm. This is the United States of America. Failed banks, failed technology, failed auto industry. GREEDY CEOs making millions if not billions for doing nothing but promoting failure and greed.
The only thing the US is good at is Wal Mart, Mcdonalds, and going to the moon.

[dancing fool]

tweet snort wrote:

<quoted text>
Ummm. This is the United States of America. Failed banks, failed technology, failed auto industry. GREEDY CEOs making millions if not billions for doing nothing but promoting failure and greed.
The only thing the US is good at is Wal Mart, Mcdonalds, and going to the moon.

Yeah, well, you forgot to mention Disney - despite the obvious lack of talent in these kids, those Disney execs dump a new bubble gum artist on our kids that they just sit back and rake in the dough. I wish we could send the Jonas Brothers to the moon, hahaha. Did you see them on Letterman last night? Pretty crummy song. Even Dave looked embarrassed. Why do they need three guitar players? Ooops, I digress.

[doctordoctor]

just go bankrupt. technological advances have passed hoku. its left with an obsolete product. thats from putting all your eggs into building a white elephant rather than into more research. dumb, real dumb.

[Aiea]

David wrote:

I just do not understand how top management paid themselves six figures a year when revenue did not support their compensation.

AGREED. Add to that the fact that it's officers, namely one Scott Paul, dumps his shares as fast as he acquires them through options, shows how much faith he has in this company.

the only people making money are the ones in management. they could give a hoot abut teh shareholders. Hoku, what a loser.

[Tickit]

Please keep your crappy businesses to your self.

Sincerely,

Pocatello, Idaho

[Brian]

Not looking good, I bet they back out of Pocatello altogether now!

http://www.journalnet.com/articles/2009/07/11...
http://www.kpvi.com/Global/story.asp...
http://www.localnews8.com/Global/story.asp...

[alice]

tjhis company was always a shibai

[amazed]

Brian wrote:

Not looking good, I bet they back out of Pocatello altogether now!
http://www.journalnet.com/articles/2009/07/11...
http://www.kpvi.com/Global/story.asp...
http://www.localnews8.com/Global/story.asp...

Not always the company's fault these days. The Bush admin caused the craziness with the banks-like Merril Lynch. See http://www.khon2.com/content/news/morning/sto...

[Realish]

jumpytrader wrote:

You are all jumping to conclusions. These risk warnings have been in every PR/prospectus from day one and Rueters took the PR and CC out of context and did not report the actual facts included in the rest of the PR and conference call. This reporter/ alarmist was in too big a hurry to be the first one with a scoop on it, now all the other news agencies have took it off the wire that way.
Nothing has changed except that to save money the pilot production has been delayed (to save the cost of temporary utillities just for the pilot test run). They intend to do the pilot 3rd quarter aftere utillities are installed.
Prepayments are still coming due and they still have prospects for more contracts and prepayments to complete the plant. Worse case is things take longer but as off now they are still on schedule to produce at the end of year.

Pumper? The "going concern" phrase is streetology code for "RUN!"

[Realish]

alice wrote:

tjhis company was always a shibai

Expert assessment from the shibai master him/herself.

[Back to the Fillings]

jumpytrader wrote:

You are all jumping to conclusions. These risk warnings have been in every PR/prospectus from day one and Rueters took the PR and CC out of context and did not report the actual facts included in the rest of the PR and conference call. This reporter/ alarmist was in too big a hurry to be the first one with a scoop on it, now all the other news agencies have took it off the wire that way.
Nothing has changed except that to save money the pilot production has been delayed (to save the cost of temporary utillities just for the pilot test run). They intend to do the pilot 3rd quarter aftere utillities are installed.
Prepayments are still coming due and they still have prospects for more contracts and prepayments to complete the plant. Worse case is things take longer but as off now they are still on schedule to produce at the end of year.

It's dead money. Any trader worth his salt would not be "jumpy," nor would he stay married to a losing trade like this one. You've blown at least 4 of the cardinal rules of investing: preservation of capital, don't trade on emotion, cut your losses quickly, and don't let a "trade" turn into an "investment." No doubt you've been averaging down along the way so you can "lower your cost basis" and get the shares for "cheap," right? Classic.

So much for your trading career. Dentistry ain't that bad, is it?

[Realish]

amazed wrote:

<quoted text>
Not always the company's fault these days. The Bush admin caused the craziness with the banks-like Merril Lynch. See http://www.khon2.com/content/news/morning/sto...

I know. The two galaxies colliding (accidentally caught by Hubble last year while photographing Uranus) is Bush's fault too.
He's evil.

[Enquiring Mind]

Realish wrote:

<quoted text>I know. The two galaxies colliding (accidentally caught by Hubble last year while photographing Uranus) is Bush's fault too.
He's evil.

Where the H is your T?

[Wholly Man]

Realish wrote:

<quoted text>I know. The two galaxies colliding (accidentally caught by Hubble last year while photographing Uranus) is Bush's fault too.
He's evil.

That's OK, Obama can fix it. After all, He created the Universe.