Capstone Green Energy Files Financial Results For Full Fiscal Year 2024
27 Septiembre 2024 - 8:15AM
Business Wire
Focus Shifts to Finalizing Remaining Filings
and Strengthening Market Position Amid Growing Demand for Clean
Energy Solutions
Capstone Green Energy Holdings, Inc. (the "Company"), the public
successor to Capstone Green Energy Corporation, is pleased to
announce the filing today of its Fiscal Year 2024 Form 10-K for the
year ended March 31, 2024, with the United States Securities and
Exchange Commission (SEC).
“The filing of our Fiscal Year 2024 10-K marks a pivotal
milestone in our path toward full compliance with SEC reporting
requirements. With this submission behind us, our focus now shifts
to finalizing the outstanding first quarter Fiscal Year 2025 10-Q
filing and restoring public trading of our common stock on
over-the-counter markets,” stated John Juric, Chief Financial
Officer of Capstone. “The relentless effort of our staff and
professionals continues onward towards having our common stock
trading on the over-the-counter market.”
Vince Canino, President and Chief Executive Officer of Capstone,
added, “Extraordinary results cannot be achieved without getting
the little things right. Getting this 10-K released after all that
has ensued over this past year required intense attention to detail
from a large group of contributors.” Canino went on to add, “All of
this hard work by John Juric and his team marks a new beginning
where Capstone can play on the world’s energy stage. Today’s energy
stage is formulating to be quite exciting for clean energy and
technology. This is where Capstone belongs. We look forward to
providing those in need of resilient, affordable and sustainable
oil-free clean energy solutions that can truly lower the world’s
carbon footprint in almost every hour of every day.”
Additional Information The Company is the public
successor to Predecessor Capstone (CGRN) for SEC reporting
purposes. Once the Company completes Fiscal 2025 quarterly filings,
it expects that it will be eligible to obtain a quotation of its
common stock on the OTC Pink Sheet Market. The CUSIP number for the
Company's common stock following the reorganization transactions
consummated in December 2023 is 14067D607, and the ISIN number is
US14067D6076.
About Capstone Green Energy For over three decades,
Capstone Green Energy has been at the forefront of microturbine
technology, revolutionizing how businesses manage their energy
supply. In partnership with our worldwide team of dedicated
distributors, we have shipped over 10,000 units to 83 countries,
providing environmentally friendly and highly efficient on-site
energy systems and microgrid solutions.
Today, our commitment to a cleaner future is unwavering. We
offer customers a range of commercial, industrial, and
utility-scale options tailored to their specific needs, ranging
from 65kW to multiple MWs. Capstone's product portfolio not only
showcases our core microturbine technology but also includes
flexible Energy-as-a-Service (EaaS), which includes a build, own,
and operate models as well as rental services.
In our pursuit of cutting-edge solutions, we've forged strategic
partnerships to extend our impact. Through these collaborations, we
proudly offer renewable gas products along with heat recovery
solutions that enhance the sustainability and efficiency of our
client's operations, contributing to a cleaner and more responsible
energy landscape.
Capstone offers fast, turnkey power rental solutions for
customers with limited capital or short-term needs; for more
information, contact rentals@CGRNenergy.com.
For more information about the Company, please visit
www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on
Twitter, LinkedIn, Instagram, Facebook, and YouTube.
Cautionary Notes This release contains forward-looking
statements as defined in the Private Securities Litigation Reform
Act of 1995, including statements regarding the filing of
delinquent SEC reports, the Company’s expectations regarding future
trading of its common stock on an over-the-counter market and the
other statements regarding the Company’s expectations, beliefs,
plans, intentions, and strategies. The Company has tried to
identify these forward-looking statements by using words such as
“expect,” “anticipate,” “believe,” “could,” “should,” “estimate,”
“intend,” “may,” “will,” “plan,” “goal” and similar terms and
phrases, but such words, terms and phrases are not the exclusive
means of identifying such statements. Actual results, performance
and achievements could differ materially from those expressed in,
or implied by, these forward-looking statements due to a variety of
risks, uncertainties and other factors, including, but not limited
to, the following: the Company’s liquidity position and ability to
access capital; the Company’s ability to continue as a going
concern; the Company’s ability to successfully remediate the
material weaknesses in internal control over financial reporting;
the Company’s ability to realize the anticipated benefits of its
financial restructuring; the Company’s ability to comply with the
restrictions imposed by covenants contained in the exit financing
and the new subsidiary limited liability company agreement;
employee attrition and the Company’s ability to retain senior
management and other key personnel following the restructuring; the
Company's ability to develop new products and enhance existing
products; product quality issues, including the adequacy of
reserves therefor and warranty cost exposure; intense competition;
financial performance of the oil and natural gas industry and other
general business, industry and economic conditions; the impact of
litigation and regulatory proceedings; risks related to the
previously announced restatement (including delay in the filing of
late Form 10-K’s and Form 10-Q’s due to the Company’s efforts to
complete the restatement; the time, costs and expenses associated
with the restatement; inquiries from the SEC; the potential
material adverse effect on the price of the Company’s common stock
and stockholder lawsuits). For a detailed discussion of factors
that could affect the Company’s future operating results, please
see the Company’s filings with the Securities and Exchange
Commission, including the risk factors contained in our most recent
Annual Report on Form 10-K. Except as expressly required by the
federal securities laws, the Company undertakes no obligation to
update or revise any forward-looking statements, whether as a
result of new information, changed circumstances or future events
or for any other reason.
The Company reminds investors that, although the Company is
today filing its annual report for its fiscal year ended March 31,
2024 (FY24), the Company is not yet current in its SEC filings. The
Company cautions investors and prospective investors that its
operating results for, and its financial condition as of the end
of, the fiscal quarter included in the quarterly report filed today
may not be indicative of its financial results for, and financial
condition as of the end of, the fiscal quarters and fiscal year
that have not yet been reported, and the Company cautions investors
and prospective investors not to place undue reliance on the
financial and other information contained in the quarterly report
filed by the Company today.
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Capstone Green Energy Investor and investment media inquiries:
818-407-3628 ir@CGRNenergy.com