We are a development stage company that was formed in order to provide developed technology related to the operations of energy efficient electronic systems such as swimming pool pumps, sprinkler controllers and heating and air conditioning controllers among others.
Rising retail electricity prices, coupled with inelastic demand, create a significant and growing market opportunity for lower cost retail energy.
We have developed an integrated approach that allows our customer's access to
Sales. Develop a structured sales organization to efficiently engage prospective customers, from initial interest through customized proposals and, ultimately, signed contracts. Financing. To provide pricing options to our customers to help make renewable, distributed energy and BrioWave technology affordable. Engineering. We have developed hardware and software that potentially optimizes the energy production of each solar energy system. Installation. We obtain all necessary building permits and handle the installation of our solar energy systems. By managing these logistics, we make the installation process simple for our customers. Monitoring and Maintenance. We utilize our own software and other software from third party vendors to provide
Attune RTDand our customers with a real-time view of their energy generation, consumption and carbon offset through an easy-to-read application available on any device with a web browser. Complementary Products and Services. Using our proprietary software, we analyze our customers' energy usage and identify opportunities for energy efficiency improvements. Our Strategy
Our goal is to become a competitive provider of efficient solutions, demand response technology and of clean distributed energy in the world. We plan to achieve this disruptive strategy by providing every home and business an alternative to their energy bill that is cleaner and less costly than their current energy provider coupled with our own proprietary BrioWave hardware and software. We intend to:
? Rapidly grow our customer base. We intend to invest significantly in sales,
marketing and operations personnel and leverage strategic relationships with
new and existing industry leaders to further expand our business and customer
? To offer lower priced energy solutions. We plan on reducing costs by
continuing to leverage our proprietary hardware and software to further ensure
that our integrated team operates as efficiently as possible, and working with
fund investors to develop innovative financing solutions to lower our cost of
capital and offer lower-priced energy to our customers.
? Leverage our brand and long-term customer relationships to provide
complementary products. We plan to continue to invest in and develop
complementary energy products, software and services, such as our BrioWave and
BrioWEMS energy management technologies, to offer further cost-savings to our
? Expand into new locations. We intend to continue to expand into new locations,
initially targeting those markets where climate, government regulations and
incentives position solar energy as an economically compelling alternative to
Results of Operations for the Six Months Ended
Revenue. For the quarters ended
Gross Profit. Since we have yet to record and or achieve any significant revenues, we do not have any costs associated with sales, and therefore, there are no gross profits to report.
Operating Expenses. Total operating expense was
Provision for Income Taxes. Our income taxes for the six months ended
Net Loss. We generated a net loss of
Liquidity and Capital Resources
Our operating activities used cash in operations is
Cash provided by financing activities was
We do not have sufficient capital to meet our current cash needs. In the future, we will need to raise additional capital from external sources in order to continue the longer term efforts contemplated under our business plan. We expect to continue incurring losses for the foreseeable future and will need to raise additional capital to pursue our business plan and continue as a going concern. We cannot provide any assurances that we will be able to raise additional capital. Our management believes that we have access to capital resources through possible public or private equity offerings, debt financings, corporate collaborations or other means, if needed; however we have not secured a final commitment for such financing or financings at this time.
Off-Balance Sheet Arrangements
We currently have an off-balance sheet arrangement in place, in the form of an LOI with BGP for the acquisition of Majority-Voting Control of Attune that could have or is reasonably likely to have a current or future material effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources.
Going Concern Qualification
We have incurred significant losses from operations, and we expect to continue incurring such losses for the foreseeable future. Our auditors have included a "Going Concern Qualification" in their report for the year ended
Our management's plans include the Change of Majority-Voting Control of Attune, which will result in the injection of working capital contingent on the closing of the transaction, as well as seeking additional capital through possible public or private equity offerings, debt financings, corporate collaborations or other means.
There is no guarantee that additional capital or debt financing will be available when and to the extent required, or that if available, it will be on terms acceptable to us. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. The "Going Concern Qualification" included in our auditor's report might make it substantially more difficult to raise capital, without the acquisition of Majority-Voting Control of Attune by BGP.