How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Lane Your Own Question
Lane
Lane, JD, CFP, MBA, CRPS
Category: Finance
Satisfied Customers: 10173
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
1929974
Type Your Finance Question Here...
Lane is online now
A new question is answered every 9 seconds

Can you tell me the status of my 100 share investment made

Customer Question

Can you tell me the status of my 100 share investment made in R G S Energy Group through EquiServe that was located in Providence, R.I.? My last statement was dated 09/28/01.
Submitted: 1 year ago.
Category: Finance
Expert:  Lane replied 1 year ago.
Hi,
Residential Energy Group (RGSE) is currently trading at 2.61 per share.
You can reach their Investor Relations Department at:(###) ###-####
They made the strategic decision to exit their Large Commercial business segment. The results of the segment for all periods are presented as discontinued operations, while the company’s continuing operations are primarily composed of its residential and Sunetric business segments.
As previously announced, during the fourth quarter, the company divested its retail and catalog business which is included in continuing operations for the quarter.
THis resulted in positive cash inflows for the 4th quarter (First three quarters were negative)
In the fourth quarter of 2014, net revenue from continuing operations increased 2.0% to $18.4 million over the same year-ago quarter.
Here's the Management's Commentary from the most recent 10-K (Annual Report)
“The fourth quarter presented unique cash management challenges that we successfully met,” stated Dennis Lacey, RGS Energy’s CEO. “During the quarter, we did not burn cash. In fact, we generated a cash inflow from operations of $0.6 million as compared to an average quarterly cash burn of roughly $10 million for the first nine months of 2014.
Furthermore, as recently announced,we entered into an arrangement with CentroSolar to facilitate installation of our East Coast backlog and arranged for $11.5 million of new financial capital.
At the same time we have renewed our bank facility for the ensuing 12 months, and we have recently restructured our operations to significantly reduce the fixed cash operating expenses of the company so we can operate more profitably in the future. In brief, we have significantly strengthened the financial position of the company and restructured for improved operating results. We are encouraged by the progress we are making in turning around RGS’ business.”
Here's a link to their annual report:
http://rgsenergy.com/pdf/RGSE_Earnings_Release_2014_Q4.pdf?page=1
Let me know if you need more
Lane

Related Finance Questions