Apollo Solar Energy (OTC BB:ASOE)

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Tuesday, May 22, 2012

Comments & Business Outlook

APOLLO SOLAR ENERGY, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS AND OTHER COMPREHENSIVE INCOME

(Unaudited)

(In US Dollars)

	Three months Ended March 31,
	2012			2011

SALES	$	1,872,034		$	3,783,220

COST OF SALES		1,768,154			3,430,156

GROSS PROFIT		103,880			353,064

OPERATING EXPENSES
General and administrative expenses		688,019			900,781
Selling expenses		56,898			70,273
Research and development expenses		155,570			30,810
TOTAL OPERATING EXPENSES		900,487			1,001,864

OPERATING LOSS		(796,607	)		(648,800	)

OTHER INCOME (EXPENSES)
Interest income - related party		-			837,359
Interest expenses, net of interest income		(138,896	)		(94,189	)
Loss in equity in Joint Venture		(108,597	)		(111,843	)

LOSS BEFORE INCOME TAXES		(1,044,100	)		(17,473	)

Income tax credit		-			(97,066	)

NET INCOME (LOSS)		(1,044,100	)		79,593

OTHER COMPREHENSIVE INCOME
Foreign currency translation adjustment		28,950			186,139

COMPREHENSIVE INCOME (LOSS)	$	(1,015,150	)	$	265,732

Basic and Diluted Loss per common share
Basic and diluted	$	(0.02	)	$	0.00

Weighted average number of common share outstanding
Basic and diluted		49,377,038			51,091,546

Sales for the three months ended March 31, 2012 were $1,872,034, compared to the sales of $3,783,220 in the same period in 2011, a decrease of $1,911,186 or approximately 50.5%. The primary reasons for the reduction in sales were:

Termination of the Company’s relationship with First Solar, whose purchases in the first quarter of 2011 totalled $1,166,000.
There were sales of Selenium totaled $44,466 in the first quarter of 2012. In the first quarter of 2011, our sales of Selenium totaled $825,550.

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Wednesday, May 16, 2012

Comments & Business Outlook

APOLLO SOLAR ENERGY, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS AND OTHER COMPREHENSIVE INCOME
(In US Dollars)

	Year Ended December 31,
	2011			2010

SALES	$	10,369,260		$	9,594,382

COST OF SALES		8,884,367			8,108,486

GROSS PROFIT		1,484,893			1,485,896

OPERATING EXPENSES
General and administrative expenses		4,434,638			6,971,192
Selling expenses		369,092			252,748
Research and development expenses		934,583			646,086
TOTAL OPERATING EXPENSES		5,738,313			7,870,026

OPERATING LOSS		(4,253,420	)		(6,384,130	)

OTHER INCOME (EXPENSES)
Interest income - related party		837,359			-
Interest expenses, net of interest income		(272,619	)		(196,589	)
Gain on investment in Joint Venture		-			730,572
Loss in equity in Joint Venture		(80,058	)		(348,285	)

LOSS BEFORE INCOME TAXES		(3,768,738	)		(6,198,432	)

Income tax credit		-			(368,387	)

NET LOSS	$	(3,768,738	)	$	(5,830,045	)

OTHER COMPREHENSIVE INCOME
Foreign currency translation adjustment	$	963,429		$	733,401

COMPREHENSIVE LOSS	$	(2,805,309	)	$	(5,096,644	)

Basic and Diluted Loss per common share
Basic and diluted	$	(0.08	)	$	(0.12	)

Weighted average number of common share outstanding
Basic and diluted		49,819,684			48,460,149

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Thursday, December 15, 2011

Comments & Business Outlook

APOLLO SOLAR ENERGY, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS AND OTHER COMPREHENSIVE INCOME (LOSS)
(Unaudited)
(In US Dollars)

	Three Months Ended September 30,								Nine Months Ended September 30,
	2011				2010				2011				2010

Sales		$	2,245,534			$	3,582,735			$	8,968,872			$	6,158,700
Cost of sales			(1,920,272	)			(2,577,786	)			(7,518,345	)			(4,675,245	)
Gross profit			325,262				1,004,949				1,450,527				1,483,455

Operating Expenses
General and administrative expenses			835,272				862,246				2,412,540				2,785,182
Selling expenses			71,805				73,737				247,008				190,074
Research and development expenses			84,181				314,098				374,753				667,208
Total Operating Expenses			991,258				1,250,081				3,034,301				3,642,464

Operating Loss			(665,996	)			(245,132	)			(1,583,774	)			(2,159,009	)
Interest income (expenses)			(56,946	)			(68,356	)			630,851				(251,792	)
Loss on sale of assets			(132,398	)							(132,398	)
Gain on investment in Joint Venture			1,205,110								1,205,110
Loss in equity of Joint Venture			(141,078	)			(223,025	)			(388,666	)	(223,025)
Income (loss) before income tax			208,692				(536,513	)			(268,877	)			(2,633,826	)
Income tax expense (credit)			2,335				-				(123,443	)			-
Net income (loss)			206,357				(536,513	)			(145,434	)			(2,633,826	)

Other Comprehensive Income (Loss)
Foreign Currency Translation Adjustment			285,338				384,489				784,876				518,286
Comprehensive income (loss)		$	491,696			$	(152,024	)		$	639,442			$	(2,115,540	)

Basic and Diluted Loss per common share
Basic and diluted		$	(0.00	)		$	(0.01	)		$	(0.00	)		$	(0.06	)
Weighted average common share outstanding
Basic and diluted			49,237,038				50,133,662				49,848,414				47,885,783

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Tuesday, August 16, 2011

Comments & Business Outlook

Second Quarter 2011 results

Sales for the three months ended June 30, 2011 were $2,940,118, compared to sales of $1,501,919 in the same period in 2010, an increase of $1,438,199, or approximately 96%

For the three months ended June 30, 2011, the Company had a net loss of $431,385, compared to a net loss of $1,011,002 for the three months ended June 30, 2010. The primary reasons for the decrease in net loss for the three months ended June 30, 2011 was an increase in sales, and the reduction of general and administrative expenses, plus interest income of a loan to related parties.

"Apollo improved its financial results in the second quarter of 2011. We believe this improvement in our results of operations strongly indicates we are now on the right track," Dr. Jingong Pan, CEO of Apollo Solar, stated. "Our new marketing strategy to increase three product lines such as material for solar panel glass, material for signal integrated processors, and substrate material for LED panels helped us increase our sales and our effort to cost improvement helped us reduce expenses. We will continue pursuit of these strategies to deliver better results in the further." of a loan to related parties.

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Saturday, May 28, 2011

Investor Alert

The Company believes that its cash flows generated internally may not be sufficient to sustain operations and repay short term bank loans for the next twelve months. Therefore, from time to time, the Company may require extra funding through short term borrowing from PRC banks or other financing activities if needed in the near future.

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Monday, May 23, 2011

Comments & Business Outlook

CHENGDU, China, May 20, 2011 /PRNewswire-Asia-FirstCall/ -- Apollo Solar Energy, Inc. (OTCBB: ASOE) ("Apollo" or "the Company"), a vertically integrated refiner and producer of high purity tellurium (Te), tellurium-based compounds and other metals for the solar photovoltaic (PV) industry and specific segments of the electronic materials market worldwide reported its first quarter 2011 earnings in its Form 10-Q filed with the Securities and Exchange Commission on May 16, 2011.

Sales for the three months ended March 31, 2011 were $3,783,220, compared to the sales of $1,073,774 in the same period in 2010, an increase of $2,709,446, or approximately 252%.
For the three months ended March 31, 2011, the Company had net income of $79,593, compared to a net loss of $1,086,159 for the three months ended March 31, 2010. The primary reasons for the increase in net income for the three months ended March 31, 2011 was an increase in sales, and the reduction of general and administrative expenses, plus interest income of a loan to related parties.

"Apollo turned profitable in the first quarter of 2011. We believe this change in our results of operations strongly indicates we are now on the right track," Dr. Jingong Pan, CEO of Apollo Solar, stated. "We believe that our new marketing strategy to increase three product lines such as material for solar panel glass, material for signal integrated processors, and substrate material for LED panels will further our future success. Additionally, we expect the Chinese government support of solar energy development will increase demand for our products in 2011 and well into the future."

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Sunday, April 10, 2011

Comments & Business Outlook

CONSOLIDATED STATEMENTS OF OPERATIONS AND OTHER COMPREHENSIVE LOSS
(In US Dollars)
	Year Ended December 31,
	2010			2009
SALES	$	9,594,382		$	7,813,605

COST OF SALES		8,108,486			6,012,500

GROSS PROFIT		1,485,896			1,801,105

OPERATING EXPENSES:
General and administrative expenses		6,971,192			5,586,508
Selling expenses		252,748			204,701
Research and development expenses		646,086			48,623
TOTAL OPERATING EXPENSES		7,870,026			5,839,832

OPERATING LOSS		(6,384,130	)		(4,038,727	)

Gain on investment in Joint Venture		730,572			3,977,511
Loss in equity of Joint Venture		(348,285	)
Interest expense		(196,589	)		(476,638	)
Other income expenses		-			207,137

LOSS BEFORE PROVISION FOR INCOME TAXES		(6,198,432	)		(330,717	)

Income tax expense (credit)		(368,387	)		584,854

NET LOSS	$	(5,830,045	)	$	(915,571	)

OTHER COMPREHENSIVE INCOME (LOSS)
Foreign currency translation adjustment	$	733,401		$	(8,908	)

COMPREHENSIVE LOSS	$	(5,096,644	)	$	(924,479	)

Basic and Diluted losses per common share
Basic	$	(0.12	)	$	(0.02	)
Diluted	$	(0.12	)	$	(0.02	)

Weighted average number of common shares outstanding
Basic		48,460,149			44,555,131
Diluted		48,460,149			44,555,131

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Liquidity Requirements

We have accumulated significant net losses from our inception through December 31, 2010 and we may be unable to generate significant revenue or any net income in the future. We cannot predict when, or if, we will become profitable in the future. Even if we achieve profitability, we may not be able to sustain it. We have funded our operations primarily through the issuance of equity and debt securities to investors and may not be able to generate a positive cash flow in the future.

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Thursday, January 6, 2011

Deal Flow

On December 30, 2010, Apollo Solar Energy, Inc. issued a total of 1,500,000 shares of the Company’s common stock to 11 individuals, in the aggregate, in consideration for technical, marketing and R&D consulting services rendered by such individuals to the Company.

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