REAL GOODS SOLAR, INC. (NASDAQ:RGSE) Files An 8-K Results of Operations and Financial Condition
Item 2.02 Results of Operations and Financial Condition.
On March 29, 2019, the Company issued a press release in which it disclosed for the twelve months ended December 31, 2018, the preliminary net loss for the mainland residential business was approximately $5.5 million.
The preliminary financial data discussed in Item 2.02 and Item 7.01 consists of estimates derived from the Company’s internal books and records and has been prepared by, and are the responsibility of, the Company’s management. The preliminary financial data are subject to the completion of financial closing procedures, final adjustments and other developments that may arise between now and the time the financial results for the fourth quarter ended December 31, 2018 are finalized. Therefore, actual results may differ materially from these preliminary cash projections and financial data and all of these preliminary cash projections and financial data are subject to change.
The information in this Item 2.02 is being furnished by the Company to Item 2.02 “Results of Operations and Financial Condition.” In accordance with General Instruction B.2 of Form 8-K, the information contained in this Item 2.02 shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liability of that section. In addition, this information shall not be deemed incorporated by reference into any of the Company’s filings with the Securities and Exchange Commission, except as shall be expressly set forth by specific reference in any such filing.
Item 7.01. Regulation FD Disclosure.
On March 29, 2019, the Company issued a press release announcing an operational realignment described in Item 8.01 below, a copy of which is attached as Exhibit 99.1 and is incorporated by reference in response to this Item 7.01.
The information under this Item 7.01 and the press release attached hereto as Exhibit 99.1 are being furnished by the Company to Item 7.01. In accordance with General Instruction B.2 of Form 8-K, the information contained under this Item 7.01 and the press release attached hereto as Exhibit 99.1 shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liability of that section. In addition, this information shall not be deemed incorporated by reference into any of the Company’s filings with the Securities and Exchange Commission, except as shall be expressly set forth by specific reference in any such filing.
Item 8.01. Other Events.
On March 27, 2019, the Company’s Board of Directors determined to exit its mainland residential solar business to focus on the POWERHOUSE™ in-roof shingle market and reduce overall cash outflow, with the goal of maximizing future shareholder value. The Company does not believe the costs to implement the operational realignment will be material to its operations or financial condition.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Real Goods Solar, Inc. Exhibit
EX-99.1 2 tv517503_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 RGS Energy Announces Exiting Unprofitable Legacy Solar Business,…
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