Back in August of 2009 I wrote about DSTI declining from below a dollar to $.61 per share. Now it's April of 2010 months later and DSTI closed at $.26 today. The long, slow decline continues.
Daystar is still making moves. The company has made a few moves but nothing that seems to change anything significantly. They brought in the new CEO, which amounted to a very slight blip on DSTI share price. DayStar also got out of their New York operation, which always seemed like a strange little operation. So that bleeding has come to an end.
The importation of Magnus Ryde as CEO seemed like a big announcement in a room full of nobody. The stock as still around $.41 per share around that time and has since continued to waste away. I knew there was more trouble on the horizon when one of the few stories that broke on the news for DSTI was the compensation package for the new CEO. What a complete non-productive activity, for a company in the position that DayStar finds itself, to be mentioning the inducement package.
Perhaps it would have been more important to focus on getting some product moving, to get out of the development stage and to get out of the red. Do not come out and discuss the money for a man on a boat that is sinking. Neither the company nor the new CEO should have bothered with this announcement back on February 17th.
So how now for DayStar? The company is still losing money but not as quickly as a year ago. But at the same time the revenues have fallen as well. The pressure from the big producers is not going away in 2010 and probably not in 2011 either. DSTI will continue to use money to develop its CIGS product, but innovation seems to come from every direction now.
The problem from August of last year is the same problem now. The economy is still not able to get out from under, real estate is still weak, all of the going problems will be with us for quit awhile more. The company has a good product but nothing that is making the industry take notice. Even if there is a really nice store in New Hampshire are you going to drive there from Oregon?
There just isn't enough energy in DSTI to merit it getting out of this bad cycle. There isn't the business, there isn't the capital and basically there is very little interest.
Unless something drastically changes over at DayStar I am permanently out of this stock. There are too many other interesting and money making companies out there. Unfortunately, many of them are Chinese firms. Sad but true for DayStar. Look for DSTI continue to slowly decline, with a mild bounce up here and there.
