Clear Skies Residential Program Breaks Ground
April 07 2011 - 6:00AM
Clear Skies Solar, Inc (CSS) (OTCBB:CSKH), a full-service renewable
energy provider to commercial, industrial, agricultural and
residential clients, today announces the first twenty two sub-50 kw
projects are underway.
Ezra Green, CEO of Clear Skies, said: "We have started pulling
the permits on 18 residential installations totaling 210 kw or $1.2
million, as well as 4 small sub-50 kw commercial jobs totaling 310
kw or $340,000. These smaller projects have been developed as the
result of our movement into the high volume market since January
2011 and are in addition the projects previously announced. The
results have been very successful and we have been exceeding our
own expectations."
Shareholder discussion:
In response to the many shareholder requests for updates and
clarity on CSS moving forward, we will be discussing the business
aspect more frequently in order to keep our shareholders informed.
Some of the internal events in the Company as far as products,
strategies and niche markets we will need to keep internal and as
low key as possible for competitive reasons.
We also want to address concerned emails regarding our
performance for 2010 and, needless to say, we are also disappointed
in the end-results. What needs to be pointed out, however, is that
we took drastic steps to change the course of the Company in order
to stem the dilution while increasing revenues and profits to the
expected levels in 2011.
We have repeated this several times and our shareholders deserve
to be reminded that 2009 was a difficult year for many companies,
us included, but we did not have the benefit of a government
bailout so we needed to turn to dilution. 2010 was spent rebuilding
our model and although it was moving in the right direction, the
process was very slow and navigating the complexities of large
scale projects proved arduous. We are currently still developing
and negotiating these projects but will no longer be announcing
time lines or anticipated revenue for them since they have been so
elusive on several levels.
In 2010, along with the solar industry redefining itself,
finding new project-financing avenues was slow moving but seemed to
be developing at a comfortable pace. In the 4th quarter, although
we were working on developing many projects at various stages, we
could no longer see the consistent cash flow on the horizon. We
immediately changed the path of the Company by reorganizing several
positions, hiring several sales and marketing professionals who
shared and understood our vision, and embarked on a very aggressive
campaign to bring in the high-volume commercial-residential
business. This has proved to be quite successful for us and has
since begun to stabilize our cash flow, allowing us to negotiate
credit lines and afford us new opportunities for project
financing.
In the past three plus years of reporting, we have always
produced project-profits of at least 10% and up to 23% depending on
the category/size of the project and we expect to continue that
pace moving forward. Since our projects will tend to be
smaller in scale, we do expect average profits to be higher than
10%.
About Clear Skies Solar, Inc.
Clear Skies Solar, Inc. (CSS), through its wholly owned
subsidiary, provides full-service renewable energy solutions to
commercial, industrial and agricultural clients across the country.
CSS launched formal operations in 2005 and since that time the
Company developed its proprietary systems, obtained important
licenses and certifications, and acquired technologies to maximize
the impact of its construction expertise in the renewable energy
sector. Clear Skies Solar has become one of the premier solar
electric installation companies in the country. For more
information about CSS please visit
http://www.clearskiessolar.com
The Clear Skies Solar, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=7498
Forward-Looking Statements
Certain statements in this press release may constitute
"forward-looking statements" that involve risks and
uncertainties. These include statements about Clear Skies
Solar's expectations, plans, objectives, assumptions or future
events. You should not place undue reliance on these
forward-looking statements. Information concerning factors
that could cause the Company's actual results to differ materially
from these forward-looking statements can be found in Clear Skies
Solar's periodic reports filed with the Securities and Exchange
Commission. Clear Skies Solar undertakes no obligation to
publicly release revisions to these forward-looking statements to
reflect future events or circumstances or reflect the occurrence of
unanticipated events.
CONTACT: Clear Skies Solar, Inc.
Investor Relations Department
Email: IR@ClearSkiesSolar.com
Direct: 1-877-309-CSKH (2754)