Well after two years of price wars and below cost solar module pricing, the industry has begun to see module pricing stabilization and even some increases this year - very good news pointing to improving market conditions at every level of the industry.
In addition, manufacturers who as a whole reduced capital investments by over 80% during this time of instability are beginning to show signs of planning investments into new technology or capacity expansion.
Driving these improvements are two major forces. First, solar system installation demand is continuing to build globally - that's great news, and secondly, supply has been scaled back as many manufacturers ceased operations, failed, or merged with other companies.
The market data we have seen from a few sources has indicated that the areas of best growth for new systems are the Middle East, Africa, and Latin America. This is consistent with the inquiries we have received and the clients that we have provided proposals to.
In other news, last month we announced the addition of Dr. John Tuttle to our scientific and business development staff. We were anxious to get started with John so we had him in for several days recently to brainstorm on a few things including ways to add to our marketing efforts in these developing regions. In addition to putting some of his ideas immediately to work, we plan to update our web site in the near future.
For more information on the improving market and other topics, you can view a recent interview on MoneyTV with our CEO, Tom Djokovich here.
We are also planning to host a shareholders meeting this July 18th. We filed the preliminary proxy for the meeting last week and later this month we will be mailing out the proxy packages to shareholders so keep an eye out for the package.
As always, we are working hard to capitalize the full potential of CIGSolar® for our shareholders and look forward to sharing more progress with you in the near future.
Thanks for your time.
Tom Djokovich, CEO
To learn more about XsunX's' breakthrough technology please visit https://xsunx.com.
Safe Harbor Statement: Matters discussed in this shareholder newsletter contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this shareholder newsletter, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.