24 Apr '12, 4am

ECD’s Solar Product Coming Back From the Dead?: Energy Conversion Devices (ENERQ) declared bankruptcy and laid...

ECD’s Solar Product Coming Back From the Dead?: Energy Conversion Devices (ENERQ) declared bankruptcy and laid...

Energy Conversion Devices (ENERQ) declared bankruptcy and laid off about 1,000 employees on February 14 this year -- driven by more than $250 million in outstanding debt. The firm, a long-struggling supplier of flexible amorphous silicon (a-Si) photovoltaic laminates and building-integrated photovoltaics (BIPV), is now traded on the Pink Sheets. ECD's bankruptcy auction was scheduled to take place today, Tuesday April 24 -- but has been postponed by two weeks, according to reports in The Detroit News . That delay is likely due to a longshot acquisition hopeful, Salamon Group. Another Pink Sheets entity, Salamon Group, (SLMU) with a $14.4 million market cap, annual 2011 revenue of $3,126 and a net loss of $1.5 million has put in an offer letter in exchange for 5 million shares of Salamon Group. Repeating -- the firm's revenue was $3,126 in 2011. SLMU stock is trading at $0....

Full article: http://www.greentechmedia.com/articles/read/ECDs-Solar-Pr...

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