OTC Bulletin Board S & P Company Insight for CLEAR SKIES SOLAR
Profile
	Address   5020 Sunrise Highway, Suite 227   Massapequa Park , NY 11762   Phone: 516-809-0498   Website: http://www.clearskiessolar.com Auditor   Rothstein, Kass & Company   Roseland Transfer Agent   Island Stock Transfer Employees:  14 Founded:  2003 Domicile:  Delaware
Background
	History:  INCORPORATED in Delaware Dec. 12, 2007; and on Dec. 18, 2007, merged BIP Oil, Inc., a Nevada corporation organized on Jan. 31, 2007. In the merger, each share of the Nevada corporation was exchanged for 9.19230769 shares of the company. Name changed from Clear Skies Holdings, Inc. to Clear Skies Solar, Inc. Jan. 25, 2008. December 19, 2007, acquired Clear Skies Group, Inc. (CSG), a privately held New York corporation, through the merger of a wholly owned subsidiary of the company into CSG. In the aggregate, 8,908,723 Common shares of the company were issued in the merger to the holders of CSG's Common stock and warrants. Following the merger, the company transferred all of its pre-merger assets and liabilities to its wholly owned subsidiary, BIP Holdings, Inc.; and then transferred all of the outstanding capital stock of that subsidiary to certain individuals in exchange for cancellation of an aggregate of 53,866,923 Common shares of the company held by such persons. CSG was incorporated in New York Sept. 24, 2003, and began operations in August 2005.   Subsidiaries: Clear Skies Group, Inc.
Management
	Management Officers Position  Ezra J. Green Chairman & Chief Executive Officer  Thomas J. Oliveri President & Chief Operating Officer  Arthur  Goldberg Secretary, Treasurer, Chief Financial Officer & Chief Accounting Officer  Matthew  Nelson SR VP Directors  Ezra J. Green  Pamela J. Newman  Gelvin  Stevenson
Annual Report
	Annual Report   Income Statement   2008 2007 REVENUES Subcontract Revenues - 224,454 Contract Revenue 2,476,004 74,520 Others 226,174 - Total Revenues 2,702,178 298,974 EXPENSES Cost of Revenues (2,465,984) (268,707) Selling Expenses (1,190,670) (468,858) General and Administrative Expenses (5,698,388) (2,294,039) Research and Development (197,921) (91,024) Interest Expense (14,741) (40,199) Amortization of Debt Discount and Expense - (745,000) Interest Income 46,773 - Earnings before Taxes (6,818,753) (3,608,853) TAXES AND OTHER EXPENSES Net Income (Loss) (6,818,753) (3,608,853) SUPPLEMENTARY INFO Gross Profit/loss 236,194.00 30,267.00 Operating Income (Loss) (6,850,785.00) (2,823,654.00) Basic Eps-continuing Operations (0.22) (0.50) Diluted Eps-continuing Operations (0.22) (0.50)   Balance Sheet   2008 2007 CURRENT ASSETS Cash and Cash Equivalents 155,577 4,866,842 Accounts Receivables 157,225 92,291 Costs and Estimated Earnings in Excess of Billings - 27,641 Inventory 11,113 - Total Current Assets 323,915 4,986,774 NON CURRENT ASSETS Property and Equipment, net 192,653 13,293 Security Deposit 113,634 - Other Assets 44,801 54,017 Prepaid Expenses and Investor Relations Fees 195,273 645,644 Total Assets 870,276 5,699,728 CURRENT LIABILITIES Accounts Payable and Accrued Expenses 1,274,563 788,468 Payroll Liabilities 31,047 140,729 Installation Warranty Liability 56,964 7,743 Due to Related Parties - 104,410 Billings in Excess of Costs and Estimated Earnings 40,332 35,007 Customer Deposits - 5,000 Obligation to Issue Options and Warrants 47,500 9,401 Estimated Loss on Uncompleted Contracts 109,305 - Total Current Liabilities 1,559,711 1,090,758 SHAREHOLDERS' EQUITY Common Stock-par Value 31,696 30,883 Additional Paid in Capital 10,767,217 9,247,682 Accumulated Deficit (11,488,348) (4,669,595) Total Shareholders Equity (689,435) 4,608,970 Total Liabilities & Shareholders Equity 870,276 5,699,728
Interim Report
	Interim Report      Data Not Available
Pro Forma Report
	Pro Forma Report      Data Not Available
Quarterly Report
	Quarterly Report Information      Quarterly Revenue, US$ Year Quarter Revenue   2009   1 10,000   2008   1 150,000   2008   2 1,130,000   2008   3 1,040,000   2008   4 370,000   2008   Full Year 2,720,000   2007   1 240,000   2007   2 30,000   2007   3 50,000   2007   4 (20,000)   2007   Full Year 300,000   2006   Full Year 940,000   2005   Full Year 10,000     Quarterly Net Income, US$ Year Quarter Revenue   2009   1 (1,160,000)   2008   1 (1,740,000)   2008   2 (1,500,000)   2008   3 (1,730,000)   2008   Full Year (6,820,000)   2007   1 (280,000)   2007   4 (1,510,000)   2007   Full Year (3,610,000)   2006   Full Year (690,000)   2005   Full Year (890,000)     Quarterly EPS, US$ Year Quarter Revenue   2009   1 (.04)   2008   1 (.06)   2008   2 (.05)   2008   3 (.05)   2008   4 (.06)   2008   Full Year (.22)   2007   1 (.06)   2007   2 (.02)   2007   3 (.25)   2007   4 (.05)   2007   Full Year (.50)   2006   Full Year (.23)
Stock Data
	Capitalization as of 03/31/2009:     Authorized Shares Outstanding Shares Common $0.001 par 100,000,000 31,921,066 Preferred $0.001 par 10,000,000 None   LONG TERM DEBT: None.   Common $0.001 par   COMMON SOLD PRIVATELY: December 24, 2008, the company completed a private placement offering of 16,000,000 Common shares for an aggregate gross purchase price of $8,000,000, including $745,000 of exchanged debt.   Transfer Agent:  Island Stock Transfer   St. Petersburg , FL   OTC Bulletin Board( Primary): CSKH   Exchange Year High Low OTC Bulletin Board 2008 2.4000 0.1100   DIVIDENDS: Common $0.001 par: No cash.