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SolarMax Technology: Struggling Due To NEM 3.0 And Cash Is Running Low

The company raised $18 million through an IPO in February, but operating cash flow was negative $6.4 million in Q1 2024 alone. The shareholders' equity is in the red and I think that SolarMax Technology is likely to run out of liquidity by the end of the year. In my view, the business of SolarMax Technology could be close to worthless in its current state, but short selling seems dangerous.

07/08/2024

SolarMax Technology, Inc. Reports First Quarter 2024 Financial Results

RIVERSIDE, CA / ACCESSWIRE / May 16, 2024 / SolarMax Technology, Inc. (Nasdaq:SMXT) ("SolarMax" or the "Company"), an integrated solar energy company, today reported financial results for the quarter ended March 31, 2024. First Quarter Highlights Revenues were $5.8 million, compared to $12.9 million in the first quarter of 2023.

05/16/2024

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What is Solarmax Technology Inc. Common Stock's stock price?

The price of Solarmax Technology Inc. Common Stock (SMXT) is 3.64 and it was updated on 2024-07-15 13:00:31.

Is Solarmax Technology Inc. Common Stock (SMXT) overvalued or undervalued?

Currently Solarmax Technology Inc. Common Stock (SMXT) is in undervalued.

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Why this stock could be the surprise millionaire maker of the year! Every investor dreams of discovering a stock that promises not just growth but exponential returns. For 2024, one such stock is SolarMax Technology, Inc. (NASDAQ: SMXT)—a company that has caught the attention of the investing public. Thu, May. 16, 2024
SolarMax Technology, Inc. Reports Fiscal Year 2023 Financial Results RIVERSIDE, CA / ACCESSWIRE / April 16, 2024 / SolarMax Technology, Inc. (NASDAQ:SMXT) ("SolarMax" or the "Company"), an integrated solar energy company, today reported financial results for its fiscal year ended December 31, 2023. Fiscal Year 2023 Financial Highlights Revenue increased to $54.1 million, up 21% from 2022 Gross profit increased to $11.1 million, up 49% from 2022 Gross margin improved to 21%, up from 17% in 2022 Total operating expense decreased to $10.7 million, down 31% from 2022 Net income improved to $0.4 million, from a net loss of $6.9 million in 2022 "We are proud to report a year of growth and operational progress for SolarMax," stated David Hsu, CEO of SolarMax. Tue, Apr. 16, 2024
SolarMax Technology, Inc. Announces Exercise of Overallotment Option From Initial Public Offering RIVERSIDE, CA, March 05, 2024 (GLOBE NEWSWIRE) -- via NewMediaWire – SolarMax Technology, Inc. (“SolarMax” or the “Company”) (Nasdaq SMXT), an integrated solar energy company, announced today that the underwriters of its recently completed initial public offering (“IPO”) of common stock have purchased 539,950 shares of common stock upon partial exercise of their option to purchase additional shares of common stock to cover over-allotments at the initial public offering price of $4.00 per share. Tue, Mar. 05, 2024
U.S. IPO Weekly Recap: Microcap Makes Volatile Debut To Close Out February U.S. IPO Weekly Recap: Microcap Makes Volatile Debut To Close Out February Sat, Mar. 02, 2024
SolarMax Technology, Inc. Announces Closing of Initial Public Offering RIVERSIDE, Calif., Feb. 29, 2024 /PRNewswire/ -- SolarMax Technology, Inc. ("SolarMax" or the "Company") (Nasdaq SMXT), an integrated solar energy company, today announced the closing of its initial public offering of 4,500,000 shares of common stock at an initial public offering price of $4.00 per share. Thu, Feb. 29, 2024

SEC Filings

SEC Filings
Solarmax Technology Inc. Common Stock (SMXT) - 8-K - Current report SEC Filings 05/16/2024
Solarmax Technology Inc. Common Stock (SMXT) - 10-Q - Quarterly Report SEC Filings 05/15/2024
Solarmax Technology Inc. Common Stock (SMXT) - 8-K - Current report SEC Filings 04/18/2024
Solarmax Technology Inc. Common Stock (SMXT) - 10-K - Current report SEC Filings 04/16/2024
Solarmax Technology Inc. Common Stock (SMXT) - NT 10-K - Current report SEC Filings 04/01/2024
Solarmax Technology Inc. Common Stock (SMXT) - 8-K - Current report SEC Filings 03/05/2024
Solarmax Technology Inc. Common Stock (SMXT) - 8-K - Current report SEC Filings 02/29/2024
Solarmax Technology Inc. Common Stock (SMXT) - 424B4 SEC Filings 02/28/2024
Solarmax Technology Inc. Common Stock (SMXT) - CERT SEC Filings 02/27/2024
Solarmax Technology Inc. Common Stock (SMXT) - 3 SEC Filings 02/20/2024
Solarmax Technology Inc. Common Stock (SMXT) - FWP SEC Filings 02/16/2024
Solarmax Technology Inc. Common Stock (SMXT) - EFFECT SEC Filings 02/13/2024
Solarmax Technology Inc. Common Stock (SMXT) - 8-A12B SEC Filings 02/12/2024
Solarmax Technology Inc. Common Stock (SMXT) - S-1/A SEC Filings 02/09/2024
Solarmax Technology Inc. Common Stock (SMXT) - S-1/A SEC Filings 12/04/2023
Solarmax Technology Inc. Common Stock (SMXT) - S-1/A SEC Filings 11/09/2023
Solarmax Technology Inc. Common Stock (SMXT) - FWP SEC Filings 10/12/2023
Solarmax Technology Inc. Common Stock (SMXT) - FWP SEC Filings 10/10/2023
Solarmax Technology Inc. Common Stock (SMXT) - S-1/A SEC Filings 09/11/2023
Solarmax Technology Inc. Common Stock (SMXT) - S-1/A SEC Filings 08/07/2023
Solarmax Technology Inc. Common Stock (SMXT) - S-1/A SEC Filings 07/07/2023
Solarmax Technology Inc. Common Stock (SMXT) - FWP SEC Filings 05/12/2023
Solarmax Technology Inc. Common Stock (SMXT) - S-1/A SEC Filings 05/02/2023
Solarmax Technology Inc. Common Stock (SMXT) - S-1/A SEC Filings 01/20/2023
Solarmax Technology Inc. Common Stock (SMXT) - S-1/A SEC Filings 12/23/2022
Solarmax Technology Inc. Common Stock (SMXT) - S-1/A SEC Filings 10/28/2022
Solarmax Technology Inc. Common Stock (SMXT) - S-1/A SEC Filings 08/12/2022
Solarmax Technology Inc. Common Stock (SMXT) - S-1 SEC Filings 07/19/2022
Solarmax Technology Inc. Common Stock (SMXT) - DRS SEC Filings 05/16/2022
Solarmax Technology Inc. Common Stock (SMXT) - RW SEC Filings 10/28/2020
Solarmax Technology Inc. Common Stock (SMXT) - S-1/A SEC Filings 01/16/2020
Solarmax Technology Inc. Common Stock (SMXT) - S-1/A SEC Filings 12/20/2019
Solarmax Technology Inc. Common Stock (SMXT) - S-1/A SEC Filings 12/04/2019
Solarmax Technology Inc. Common Stock (SMXT) - S-1/A SEC Filings 11/05/2019
Solarmax Technology Inc. Common Stock (SMXT) - S-1/A SEC Filings 10/15/2019
Solarmax Technology Inc. Common Stock (SMXT) - S-1/A SEC Filings 07/10/2019
Solarmax Technology Inc. Common Stock (SMXT) - S-1/A SEC Filings 06/17/2019
Solarmax Technology Inc. Common Stock (SMXT) - S-1/A SEC Filings 05/01/2019
Solarmax Technology Inc. Common Stock (SMXT) - S-1 SEC Filings 12/24/2018
Solarmax Technology Inc. Common Stock (SMXT) - DRS/A SEC Filings 11/14/2018
Solarmax Technology Inc. Common Stock (SMXT) - DRS/A SEC Filings 08/14/2018
Solarmax Technology Inc. Common Stock (SMXT) - DRS/A SEC Filings 02/10/2017
Solarmax Technology Inc. Common Stock (SMXT) - D SEC Filings 12/12/2016
Solarmax Technology Inc. Common Stock (SMXT) - DRS SEC Filings 11/14/2016
Solarmax Technology Inc. Common Stock (SMXT) - D SEC Filings 05/05/2011

Press Releases

StockPrice Release
Solarmax technology, inc. reports first quarter 2024 financial results 05/16/2024
Solarmax technology, inc. reports fiscal year 2023 financial results 04/16/2024
Solarmax technology, inc. announces exercise of overallotment option from initial public offering 03/05/2024
Solarmax technology, inc. announces closing of initial public offering 02/29/2024
Solarmax technology, inc. announces closing of initial public offering 02/29/2024

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News
SolarMax Technology, Inc. Announces Closing of Initial Public Offering RIVERSIDE, CA, Feb. 29, 2024 (GLOBE NEWSWIRE) -- via NewMediaWire – SolarMax Technology, Inc. (“SolarMax” or the “Company”) (Nasdaq: SMXT), an integrated solar energy company, today announced the closing of its initial public offering of 4,500,000 shares of common stock at an initial public offering price of $4.00 per share. Gross proceeds were $18 million, prior to deducting the underwriting discounts, commissions and offering expenses payable by the Company. In addition, SolarMax has granted the underwriters a 45-day option to purchase an additional 675,000 shares of common stock at the initial public offering price, less underwriting discounts and commissions, to cover over-allotments. The common stock began trading on The Nasdaq Global Market on February 27, 2024 under the symbol SMXT. 02/29/2024

News

SolarMax Technology, Inc. Announces Closing of Initial Public Offering

RIVERSIDE, CA, Feb. 29, 2024 (GLOBE NEWSWIRE) -- via NewMediaWire – SolarMax Technology, Inc. (“SolarMax” or the “Company”) (Nasdaq: SMXT), an integrated solar energy company, today announced the closing of its initial public offering of 4,500,000 shares of common stock at an initial public offering price of $4.00 per share. Gross proceeds were $18 million, prior to deducting the underwriting discounts, commissions and offering expenses payable by the Company. In addition, SolarMax has granted the underwriters a 45-day option to purchase an additional 675,000 shares of common stock at the initial public offering price, less underwriting discounts and commissions, to cover over-allotments. The common stock began trading on The Nasdaq Global Market on February 27, 2024 under the symbol SMXT.
02/29/2024

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What is Solarmax Technology Inc. Common Stock's stock price?

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SolarMax Technology, Inc. Announces Closing of Initial Public Offering

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