Is it really puzzling there are less attendees at the roadshow this year? People are selling the stock and getting out. The price shows this.
The company has no cash and its prospects of earning revenue that outpaces its costs are very small. Even with the most optimistic of revenue projections, I can't see CCE turning a profit in the near term. So that means more debt and dilutive capital raisings.
But honestly the thing that made me pull the pin on this company (besides the close to zero progress on its projects) is the vastly improved economics of offshore wind (which in many cases is deployed in a similar environment to wave).With offshore wind blowing with great frequency and the technology being so well advanced, I can't see how wave will ever be able to compete. New turbines have a 7.5MW nameplate capacity. A 100% renewable energy future (if you believe this is where we are going) only needs solar and wind with storage. Wave is a distant afterthought. 100's of millions are spend in R&D by GE and others developing wind and solar, wave gets 6 million a year if the SPP if fully subscribed.
I keep my eye on this company for the microgrid business and solar projects (if they ever get completed). But if you strip out the IP for CETO, this company is worth 1 cent IMHO. I'll be back to buy then.... maybe.
CCE Price at posting:
3.0¢ Sentiment: None Disclosure: Not Held
