Suspending Coverage Pending Clarity

Investment and Company Research
Opportunity Research
COMPANY UPDATE
 
 

FORCEFIELD ENERGY, INC.

Suspending Coverage Pending Clarity

Rob Goldman
[email protected]

May 4, 2015
 

FORCEFIELD ENERGY, INC. (NASDAQ – FNRG - $3.11)

Price Target: N/A Rating: Not Rated
   

COMPANY SNAPSHOT

INVESTMENT HIGHLIGHTS

ForceField Energy Inc. and its subsidiaries comprise a global company whose products and solutions focus on sustainable energy solutions and improved energy efficiency. ForceField is a distributor of LED and other lighting products for a number of premier LED lighting manufacturers; and through its award-winning subsidiaries, American Lighting and ESCO, have completed lighting installations and retrofits as well as energy efficiency upgrades, for numerous high profile concerns in a variety of industries.

 

KEY STATISTICS

 
Price as of 4/20/15 $3.11  
52 Wk High - Low $7.84 - $4.90  
Est. Shares Outstanding 18.45M  
Market Capitalization $141M  
3 Mo Avg Vol 65,300  
Exchange: NASDAQ  
 

COMPANY INFORMATION

ForceField Energy, Inc.
245 Park Avenue
39th Floor
New York NY 10167

Website: www.ForceFieldEnergy.com
Email:     [email protected]

We are suspending coverage of FNRG as of today, following a series of negative and open-ended news events.

In the past two weeks trading in these shares have been suspended by NASDAQ and the SEC following news regarding the Company’s chairman and a series of allegations relating to the Company’s stock.  Late last week, the new CEO expressed plans to delist from NASDAQ (and ostensibly trade on the OTCBB) once the trading suspension has been lifted. Separately, according to a recent filing, there are issues regarding late milestone payments (a note) due to the founders of the ALD subsidiary, acquired last year.

We have confidence in the current leadership but require clarity and resolutions on these fronts. Once we have more clarity, we will consider renewing research coverage.   

 

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SENIOR ANALYST: ROB GOLDMAN

Rob Goldman founded Goldman Small Cap Research in 2009 and has over 20 years of investment and company research experience as a senior research analyst and as a portfolio and mutual fund manager. During his tenure as a sell side analyst, Rob was a senior member of Piper Jaffray's Technology and Communications teams. Prior to joining Piper, Rob led Josephthal & Co.'s Washington-based Emerging Growth Research Group. In addition to his sell-side experience Rob served as Chief Investment Officer of a boutique investment management firm and Blue and White Investment Management, where he managed Small Cap Growth portfolios and The Blue and White Fund.

ANALYST CERTIFICATION

I, Robert Goldman, hereby certify that the view expressed in this research report accurately reflect my personal views about the subject securities and issuers. I also certify that no part of my compensation was, is, or will be, directly or indirectly, related to the recommendations or views expressed in this research report.

DISCLAIMER

This Select Research update was prepared for informational purposes only.

Goldman Small Cap Research, (a division of Two Triangle Consulting Group, LLC) produces research via two formats: Goldman Select Research and Goldman Opportunity Research. The Select format reflects the Firm’s internally generated stock ideas along with economic and stock market outlooks. Opportunity Research reports, updates and Microcap Hot Topics articles reflect sponsored (paid) research but can also include non-sponsored microcap research ideas that typically carry greater risks than those stocks covered in the Select Research (non-sponsored) category. It is important to note that while we may track performance separately, we utilize many of the same coverage criteria in determining coverage of all stocks in both research formats. Research reports on profiled stocks in the Opportunity Research format typically have a higher risk profile, and may offer greater upside. Our analysts are responsible only to the public, and are paid in advance to eliminate pecuniary interests, retain editorial control, and ensure independence. Analysts are compensated on a per report basis and not on the basis of his/her recommendations.

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The information used and statements of fact made have been obtained from sources considered reliable but we neither guarantee nor represent the completeness or accuracy. Goldman Small Cap Research did not make an independent investigation or inquiry as to the accuracy of any information published by the Company, or other firms. Goldman Small Cap Research relied solely upon information published by the Company through its filings, press releases, presentations, and through its own internal due diligence for accuracy and completeness. Statements herein may contain forward-looking statements and are subject to significant risks and uncertainties affecting results.

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