It has been a powerful week for Go Solar USA, Inc.(PINK:GSLO) and an emotional one as well. The price has already doubled, trading volumes are skyrocketing to never-before seen numbers and the news keep coming. Yet, there is one detail missing for the general picture to be really optimistic. 
Ten days ago, the stock price was still declining, while shareholders were hoping that tomorrow would be the end of this lasting down the hill. And it did happen – the price hit $0.17 on the next day and started climbing again, and it has been doing so up-to-date with Friday session closing at $0.34 on more than 8 million shares changing hands. The reason for the excitement was the news coming from Go Solar lately, namely that the production of the Volt Solar Charger has begun.
Actually, not only has production begun, but shipments from China are expected in thirty days, according to the press release from last Thursday. Now, it is yet to see whether the trading frenzy would continue, but there is one more aspect which should not go overlooked, probably more important that the recent development on the stock market. It is the financial statements of the company. [BANNER]
The 2011 ones are still to come. Yet, there are the ones for last year, which in terms, could be a bit controversial to the present state of the business. Now, the last one of the SEC filings covers the nine months with an end date Oct. 31st, 2010 and naturally, it includes no revenues. What is included, however, is the following:
- total current assets of $13,4k (cash of $12,7k);
- total current liabilities of $809k;
- accumulated deficit of $8.6 million;
With the above numbers at hand, the question might come to mind as to how is the company should be able to produce products with the figures at hand. Without even looking up the fees for shipments from China to the US, it is possible that it costs more than Go Solar had in cash as of Oct. 31st last year. And this is the missing detail.
Five months have passed already, and many things could have changed since then, one being the figures above. The next quarterly statement is due and it would probably also have a solid impact on the market. The question at hand, however, remains – what will that impact be?
