Press Release: EnSync Energy Systems announces Board Departures and State of Business
Press Release: EnSync Energy Systems announces Board Departures and State of Business
Press Release: EnSync Energy Systems announces Board Departures and State of Business
新聞稿:EnSync Energy Systems宣佈董事會離職和經營狀況
EnSync Energy Systems announces Board Departures and State of Business
EnSync能源系統公司宣佈董事會離職和業務狀況
PR Newswire
美通社
MILWAUKEE, Feb. 11, 2019
密爾沃基,2019年2月11日
MILWAUKEE, Feb. 11, 2019 /PRNewswire/ -- EnSync, Inc. (NYSE American: ESNC), dba EnSync Energy Systems (the "Company"), which is creating the future of electricity with innovative residential and commercial distributed energy resource (DER) systems and Internet of Energy (IOE) control platforms, reported that, each of Richard Abdoo, Paul Koeppe, James Ozanne and Theodore Stern resigned as a member of the Board of Directors (the "Board") of the Company.
密爾沃基,2019年2月11日/美通社/--EnSync,Inc.(紐約證券交易所美國股票代碼:ESNC),dba EnSync Energy Systems(以下簡稱“公司”),該公司正在以創新的住宅和商業分佈式能源(DER)系統和能源互聯網(IOE)控制平台創造電力的未來,據報道,Richard Abdoo、Paul Koeppe、James Ozanne和Theodore Stern分別辭去了董事會成員(“董事會”)的職務
On February 11, 2019, the Company notified The NSYE American ("NYSE American") that these resignations had caused compliance deficiencies with the following sections of the NYSE American Company Guide: Section 802, requiring a majority-independent board, and Section 803, requiring an audit committee comprised of three independent directors.
2019年2月11日,本公司通知NSYE American(“NYSE American”),這些辭職導致不符合紐約證券交易所美國公司指南的以下部分:第802條,要求董事會多數人獨立;第803條,要求由三名獨立董事組成審計委員會。
Business Update
業務動態
Following the end of the second quarter of fiscal 2019, the offtaker for a sizeable project the Company was working on in Hawaii sent the Company a letter purporting to terminate the subject power purchase agreement ("PPA"). Although this purported termination was without basis and was subsequently retracted by the offtaker, the Company's receipt of this termination letter triggered a variety of significantly negative events for the Company including: (i) prevented the Company from successfully concluding negotiations for the sale of the PPA, which was expected to provide significant upfront payments; (ii) the Company delayed or canceled orders for a significant amount of equipment it had ordered in anticipation of commencing the project and facilitating timely completion of the project according to the offtaker's aggressive project timelines, which severely negatively impacted relationships with some key suppliers; and (iii) negatively impacting the Company's ability to pursue financing options, including strategic partnership transactions, PPA project financing facilities, working capital lines of credit, and additional sales of Common Stock or other debt or equity securities, which have also been negatively impacted by the deterioration in the state of the capital markets that began in the second quarter of fiscal 2019.
在2019財年第二季度結束後,公司在夏威夷從事的一個大型項目的承購人給公司發了一封信,聲稱要終止主題購電協議(“PPA”)。雖然這一聲稱的終止是沒有根據的,後來被承購方收回,但公司收到本終止函後,給公司引發了各種重大負面事件,包括:(I)阻止公司成功結束銷售PPA的談判,預計將提供大量預付款;(Ii)公司推遲或取消了其訂購的大量設備的訂單,因為預計將啟動項目,並根據承購方激進的項目時間表促進項目的及時完成,這對關係產生了嚴重的負面影響。以及(Iii)對公司尋求融資選擇的能力產生負面影響,包括戰略合作伙伴關係交易、PPA項目融資安排、營運資本信用額度以及普通股或其他債務或股權證券的額外銷售,這些也受到了2019年第二財季開始的資本市場狀況惡化的負面影響。
As previously reported on the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on January 25, 2019, (i) on January 23, 2019 Bradley Hansen resigned as the Company's President and Chief Executive Officer and as a member of the Company's Board of Directors, and (ii) on January 24, 2019 Sandeep Gupta was appointed as the Company's interim Chief Executive Officer and Chief Restructuring Officer and also as a member of the Company's Board of Directors. Mr. Gupta is a principal and founder of Novo Advisors, and his expertise ranges from the development of short-term liquidity forecasts, break-even analyses, and performance/profit improvement studies to mergers and acquisitions and liquidation analyses for healthy and distressed businesses across a wide array of industries.
正如之前在2019年1月25日提交給美國證券交易委員會的公司當前8-K表格報告中所述,(I)2019年1月23日,布拉德利·漢森辭去了公司總裁兼首席執行官和公司董事會成員的職務,(Ii)2019年1月24日,桑迪普·古普塔被任命為公司臨時首席執行官兼首席重組官,同時也是公司董事會成員。古普塔先生是Novo Advisors公司的負責人和創始人,他的專長從開發短期流動性預測、盈虧平衡分析和業績/利潤改善研究,到為各行各業健康和困難的企業進行併購和清算分析。
Due to the severe impacts of the above and the current state of its business, the Company has a very short term need for additional financing which it has been actively pursuing. However, the Company has no commitments to obtain any additional financing, and if it does not obtain sufficient financing in the very near term, it will likely need to discontinue operations and initiate insolvency proceedings.
由於上述的嚴重影響和目前的業務狀況,該公司有非常短期的額外融資需求,該公司一直在積極尋求額外的融資。然而,該公司沒有獲得任何額外融資的承諾,如果它在很短的時間內沒有獲得足夠的融資,它很可能需要停止運營並啟動破產程序。
About EnSync Energy Systems
關於EnSync能源系統公司
EnSync, Inc. (NYSE American: ESNC), dba EnSync Energy Systems (EnSync Energy), is creating the future of electricity with innovative distributed energy resource (DER) systems and internet of energy (IOE) control platforms. EnSync Energy ensures the most cost-effective and resilient electricity, delivered from an electrical infrastructure that prioritizes the use of all available resources, such as renewables, energy storage and the utility grid. As project developer, EnSync Energy's distinctive engagement methodology encompasses load analysis, system design consulting, and technical and financial modeling to ensure energy systems are sized and optimized to meet our customers' objectives for value and performance. Proprietary direct current (DC) power control hardware, energy management software, and extensive experience with numerous energy storage technologies uniquely positions EnSync Energy to deliver fully integrated systems that provide for efficient design, procurement, commissioning, and ongoing operation. EnSync Energy's IOE control platform adapts easily to ever-changing generation and load variables, as well as changes in utility prices and programs, ensuring the means to make or save money behind-the-meter, while concurrently providing utilities the opportunity to use DERs for an array of grid enhancing services. In addition to direct system sales, EnSync Energy includes power purchase agreements (PPAs) in its portfolio of offerings, which enables electricity savings for customers and provides a stable financial yield for investors. EnSync Energy is a global corporation, with joint venture Meineng Energy in AnHui, China, and energy project development subsidiary Holu Energy LLC in Hawaii. For more information, visit www.ensync.com.
EnSync,Inc.(紐約證券交易所美國市場代碼:ESNC),dba EnSync Energy Systems(EnSync Energy),正在用創新的分佈式能源(DER)系統和能源互聯網(IOE)控制平台創造電力的未來。EnSync Energy確保通過優先使用所有可用資源(如可再生能源、能源存儲和公用電網)的電力基礎設施提供最具成本效益和彈性的電力。作為項目開發人員,EnSync Energy獨特的參與方法包括負載分析、系統設計諮詢以及技術和財務建模,以確保能源系統的規模和優化能夠滿足客户的價值和性能目標。專有的直流(DC)電源控制硬件、能源管理軟件以及在多種能源存儲技術方面的豐富經驗,使EnSync Energy具有獨特的優勢,能夠提供全面集成的系統,提供高效的設計、採購、調試和持續運營。EnSync Energy的IOE控制平台可以輕鬆適應不斷變化的發電和負荷變量,以及公用事業價格和計劃的變化,確保在電錶背後賺錢或省錢的手段,同時為公用事業公司提供使用DER進行一系列電網增強服務的機會。除了直接系統銷售,EnSync Energy在其產品組合中還包括購電協議(PPA),這為客户節省了電力,併為投資者提供了穩定的財務收益。EnSync Energy是一家全球性公司,在中國安徽成立了美能能源(Meineng Energy)的合資企業,在夏威夷成立了能源項目開發子公司Holu Energy LLC。欲瞭解更多信息,請訪問www.ensync.com。
Safe Harbor Statement
安全港聲明
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the "safe harbor" created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as "believe," "expect," "may," "will," "should," "could," "seek," "intend," "plan," "goal," "estimate," "anticipate" or other comparable terms. All statements other than statements of historical facts included in this press release regarding our strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Examples of forward-looking statements include, among others, statements we make regarding project completion timelines, our ability to monetize our PPA assets, statements regarding the sufficiency of our capital resources, expected operating losses, expected revenues, expected expenses and our expectations concerning our business strategy. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: our historical and anticipated future operation losses and our ability to continue as a going concern; our ability to raise the necessary capital to fund our operations and the risk of dilution to shareholders from capital raising transactions; our ability to successfully commercialize new products, including our EnSync Smart Home Energy System, Matrix TM Energy Management, DER Flex TM, DER SuperModule TM, and Agile TM Hybrid Storage Systems; our ability to lower our costs and increase our margins; our product, customer and geographic concentration, and lack of revenue diversification; the length and variability of our sales cycle; our dependence on governmental mandates and the availability of rebates, tax credits and other economic incentives related to alternative energy resources and the regulatory treatment of third-party owned solar energy systems; and the other risks and uncertainties described in the Risk Factors and in Management's Discussion and Analysis of Financial Condition and Results of Operations sections of our most recently filed Annual Report on Form 10-K and our subsequently filed Quarterly Report(s) on Form 10-Q. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
本新聞稿包含1933年證券法(經修訂)第27A條和1934年證券交易法(經修訂)第21E條所指的前瞻性陳述,這些陳述旨在被這些條款創造的“安全港”所涵蓋。前瞻性陳述基於某些假設,描述我們未來的計劃、戰略和預期,通常可以通過使用“相信”、“預期”、“可能”、“將”、“應該”、“可能”、“尋求”、“打算”、“計劃”、“目標”、“估計”、“預期”或其他類似術語來識別。本新聞稿中除有關歷史事實的陳述外,有關我們的戰略、前景、財務狀況、運營、成本、計劃和目標的所有陳述均為前瞻性陳述。前瞻性陳述的例子包括,我們關於項目完成時間表、我們將PPA資產貨幣化的能力、關於我們資本資源的充足性、預期的營業虧損、預期的收入、預期的費用以及我們對業務戰略的期望的陳述。前瞻性陳述既不是歷史事實,也不是對未來業績的保證。相反,它們僅基於我們目前對業務未來、未來計劃和戰略、預測、預期事件和趨勢、經濟和其他未來狀況的信念、預期和假設。由於前瞻性陳述與未來有關,它們會受到固有的不確定性、風險和環境變化的影響,這些不確定性、風險和環境變化很難預測,其中許多是我們無法控制的。我們的實際結果和財務狀況可能與前瞻性陳述中顯示的大不相同。因此, 您不應該依賴這些前瞻性陳述中的任何一種。可能導致我們的實際結果和財務狀況與前瞻性陳述中指出的大不相同的重要因素包括但不限於:我們歷史上和預期中的未來運營虧損以及我們繼續經營下去的能力;我們籌集必要資本為我們的運營提供資金的能力以及融資交易對股東的稀釋風險;我們成功地將新產品商業化的能力,包括我們的EnSync智能家居能源系統、Matrix TM能源管理、Der Flex TM、Der SuperModule TM和Agile TM混合存儲系統;我們降低成本的能力;我們成功地將新產品商業化的能力,包括我們的EnSync智能家居能源系統、Matrix TM能源管理、Der Flex TM、Der SuperModule TM和Agile TM混合存儲系統這些風險和不確定性因素包括但不侷限於我們的產品、客户和地域的集中度,以及收入多樣化的影響;我們對政府授權的依賴,以及對替代能源和第三方擁有的太陽能系統的監管待遇的依賴;我們對政府授權以及與替代能源相關的退税、税收抵免和其他經濟激勵措施的依賴;以及其他在風險因素以及管理層在提交給我們的最近提交的10-K表格年度報告和隨後提交的10-Q表格季度報告中詳細介紹的其他風險和不確定性。我們沒有義務公開更新任何可能不時做出的前瞻性陳述,無論是書面的還是口頭的,無論是由於新信息、未來發展還是其他原因。
EnSync Energy Media Contact:
EnSync能源媒體聯繫人:
Lisa Nash
麗莎·納什
Antenna Group for EnSync Energy
EnSync能源的天線組
ensync@antennagroup.com
郵箱:ensync@antennagroup.com
646-883-4296
646-883-4296
Michelle Montague
米歇爾·蒙塔古
mmontague@ensync.com
郵箱:mmontague@ensync.com
(262) 735-5676
(262) 735-5676
Investor Relations Contact:
投資者關係聯繫人:
Lytham Partners, LLC
Lytham Partners,LLC
Robert Blum, Joseph Diaz, or Joe Dorame
羅伯特·布魯姆、約瑟夫·迪亞茲或喬·多拉姆
(602) 889-9700
(602) 889-9700
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SOURCE EnSync, Inc.
來源EnSync,Inc.
/Web site: http://www.ensync.com
網址:http://www.ensync.com
(END) Dow Jones Newswires
(完)道瓊通訊社
February 11, 2019 20:59 ET (01:59 GMT)
2019年2月11日美國東部時間20:59(格林尼治標準時間01:59)
譯文內容由第三人軟體翻譯。