OTC Bulletin Board

S & P Company Insight for SES SOLAR INC
 
 Profile

 
Business Summary: SES Solar Inc., through its subsidiaries, engages in designing, engineering, producing, and installing solar panels or modules, and solar tiles for generating electricity. It produces and installs photovoltaic solar products for commercial, industrial, and residential use.
 
Address
  Route de St-Julien 129
  Plan-les-Ouates 1228
  Phone: 41 22 884 14 84
  Fax: 41 22 884 14 80
  Website: http://www.societe-energie-solaire.com
Auditor
  BDO Visura
  Zurich
Transfer Agent
  Interwest Transfer Co. Inc.
Employees:  5
ShareHolders:  22
Founded:  2004
Domicile:  Delaware
 
  
 
 Background

 
SES Solar Inc., through its subsidiaries, engages in designing, engineering, producing, and installing solar panels or modules, and solar tiles for generating electricity. It produces and installs photovoltaic solar products for commercial, industrial, and residential use. The company's products are used by electric companies, local governmental agencies, and private house owners. SES Solar also offers engineering services for photovoltaic projects. The company was founded in 2001 and is based in Plan-les-Ouates, Switzerland.
History:  INCORPORATED in Delaware Feb. 4, 2004 as The Electric Network.com, Inc. March 31, 2004, merged a Nevada company of the same name incorporated Feb. 3, 1999; and on June 19, 2006, merged with its wholly owned subsidiary Solar Energy Sources Inc. and changed its name to Solar Energy Sources Inc. August 10, 2006, merged its wholly owned subsidiary SES Solar Inc., and adopted the SES Solar Inc. title. September 27, 2006, acquired Societe d'Energie Solaire SA (SES Switzerland) in a reverse acquisition in which the company issued 10,668,000 shares of its Common shares in exchange for all of the issued and outstanding shares of SES Switzerland.
 
Subsidiaries:
SES Prod SA
Societe d'Energie Solaire SA
 
 
Capital Expenditures, thousand. US Dollars
  Year  Amount
  2009  2,830
  2008  11,047
  2007  5,260
 
Research and Development Expenditures, thousand. US Dollars
  Year  Amount
  2009  252
  2008  338
  2007  427
 
  
 
 Management

 

Management
OfficersPosition
 Jean-Christophe  HadornPresident
 Christiane  ErneChief Executive Officer
 Sandrine  CrisafulliChief Operating Officer, Chief Financial Officer, Chief Accounting Officer & Controller

Directors
 Christiane  Erne
 Daniel  Erne
 
  
 
 Annual Report

 
Annual Report
 
Income Statement
  20092008
REVENUES
Revenues1,336,18833,416
EXPENSES
Cost of Goods Sold(907,664)(5,417)
Personnel(613,759)(532,039)
Rents and Lease Expense(128,399)(181,632)
Other General and Administrative Expenses(646,804)(870,643)
Research and Development(251,822)(337,761)
Depreciation and Amortization(66,208)(75,516)
Interest Expense(40,275)(155,133)
Interest Income-45,838
Currency Translation Gain(Loss)84,789272,577
Gains on Sales of Assets, Net18,797-
Earnings before Taxes(1,215,157)(1,806,310)
TAXES AND OTHER EXPENSES
Earnings of Discontinued Operations-1,331,856
Net Income (Loss)(1,215,157)(474,454)
SUPPLEMENTARY INFO
Basic EPS - Continuing Operations(0.02)(0.03)
Basic EPS - Discontinued Operations-0.02
Basic Earnings Per Share ? Total(0.02)(0.01)
 
Balance Sheet
  20092008
CURRENT ASSETS
Cash and Cash Equivalents311,372765,694
Receivables12,20512,001
Due from Related Party92,11290,573
Work in Progress3,131,865-
Inventory457,5701,665,699
Other Current Assets303,986424,186
Total Current Assets4,309,1102,958,153
NON CURRENT ASSETS
Buildings and Constructions18,429,67013,449,460
Accumulated Depreciation(484,026)(429,351)
Property, Plant and Equipment, At Cost646,177600,389
Advance Payments for Machinery385,795379,446
Advance Payments for Certification113,432-
Total Assets23,400,16016,958,100
CURRENT LIABILITIES
Accounts Payable3,452,094526,168
Short-term Loans3,234,172-
Construction Loans13,111,4409,907,190
Billings in Excess of Costs and Estimated Earnings571,4661,448,590
Total Current Liabilities20,369,17011,881,950
NON CURRENT LIABILITIES
Loan Payable218,559918,389
Construction Loans862,407882,413
SHAREHOLDERS' EQUITY
Common Stock - Par Value73,08173,081
Additional Paid in Capital8,050,0938,050,093
Treasury Stock - Common(23,557)-
Accumulated Deficit(5,459,979)(4,244,822)
Translation Adjustment(689,618)(603,005)
Total Shareholders Equity1,950,0203,275,347
Total Liabilities & Shareholders Equity23,400,16016,958,100
 
  
 
 Interim Report

 
Interim Report   
 
Data Not Available
 
 
 
 
  
 
 Pro Forma Report

 
Pro Forma Report   
 
Data Not Available
 
 
 
 
  
 
 Quarterly Report

 
Quarterly Report Information   
 
Quarterly Revenue, US$
YearQuarterRevenue
  2009   11,020,000
  2009   2240,000
  2009   340,000
  2009   440,000
  2009   Full Year 1,340,000
  2008   1Nil
  2008   230,000
  2008   3Nil
  2008   Full Year 30,000
  2007   1Nil
  2007   21,170,000
  2007   390,000
  2007   490,000
  2007   Full Year 1,340,000
  2006   210,000
  2006   3150,000
  2006   4(30,000)
  2006   Full Year 130,000
  2005   1390,000
  2005   2390,000
  2005   3790,000
  2005   4150,000
  2005   Full Year 1,100,000
 
 
Quarterly Net Income, US$
YearQuarterRevenue
  2010   1Nil
  2009   1Nil
  2009   4Nil
  2009   Full Year (1,220,000)
  2008   1(210,000)
  2008   2(590,000)
  2008   3(860,000)
  2008   Full Year (1,810,000)
  2007   1(390,000)
  2007   2(300,000)
  2007   3(400,000)
  2007   Full Year (1,520,000)
  2006   Full Year (1,240,000)
  2005   Full Year (60,000)
 
 
Quarterly EPS, US$
YearQuarterRevenue
  2010   1(.01)
  2009   1(.01)
  2009   2Nil
  2009   3Nil
  2009   4(.01)
  2009   Full Year (.02)
  2008   1Nil
  2008   2(.01)
  2008   3(.01)
  2008   4Nil
  2008   Full Year (.03)
  2007   1(.01)
  2007   2(.01)
  2007   3(.01)
  2007   4(.01)
  2007   Full Year (.03)
  2006   1Nil
  2006   2Nil
  2006   3Nil
  2006   4(.01)
  2006   Full Year (.04)
  2005   1Nil
  2005   2Nil
  2005   3Nil
  2005   4Nil
  2005   Full Year Nil
 
  
 
 Stock Data

 
 
Capitalization as of 03/31/2010:
 
 Authorized SharesOutstanding Shares
Common $0.001 par100,000,00072,984,168so1
 
LONG TERM DEBT: $1,023,930.
 
Common $0.001 par
 
Stockholders:  01/21/2010, 22.
PRINCIPAL STOCKHOLDERS: January 21, 2010, Christiane Erne owned or controlled 66.2% of the Common, and SG Private Banking (Suisse) S.A. 7.1%.
 
Transfer Agent:  Interwest Transfer Co. Inc.   Salt Lake City , UT
 
OTC Bulletin Board( Primary): SESI
 
ExchangeYearHighLow
OTC Bulletin Board20090.45000.0200
OTC Bulletin Board20081.20000.1000
OTC Bulletin Board20071.48000.4800
OTC Bulletin Board20061.70000.5100
 
DIVIDENDS: Common $0.001 par: None.
 
 
  so1Excl. 97,000 in treas.