DayStar Technologies, Inc. (Nasdaq: DSTI) skyrockets on company news

DayStar Technologies, Inc. (Nasdaq: DSTI) skyrocketed in morning trading Thursday, up more than 75 percent from Wednesday’s closing price. The solar products maker announced this week that it is pursuing a strategy for offshore manufacturing of its CIGS thin-film deposition technology solar modules.

The company is exploring various options to pursue this strategy, and has “begun discussions with several potential partners,” and should the discussions prove effective, “could include joint ventures, licensing agreements, contract manufacturing agreements,” or even a reverse merger with or an acquisition of DayStar, according to CEO Magnus Ryde.

“We are confident in our core proprietary CIGS technology and believe that completing a transaction with a strategic partner and manufacturing our CIGS modules offshore would provide the best opportunity to bring our product to market and to manufacture the product in the most cost effective manner,” Ryde said.

For the first quarter, DayStar reported a net loss of $6.1 million or $1.61 per share, compared with a net loss of $7.7 million or $2.06 per share in the first quarter of 2009.
The average shares outstanding and loss per share for the quarter ended March 31, 2010 and 2009 reflect the 1-for-9 reverse stock split implemented by DayStar on May 11, 2010. DayStar’s common stock began trading on the NASDAQ Capital Market on a split adjusted basis on March 12, 2010.

Despite overall market conditions, solar stocks have remained strong, with companies like STR Holdings (Nasdaq: STRI), Solarfun (Nasdaq: SOLF), Trina Solar (NYSE: TSL), JA Solar (Nasdaq: JASO), Renesola (NYSE: SOL), and GT Solar (Nasdaq: SOLR) performing well. A look at the Solar Stocks Index shows that there is certainly no shortage of domestic components. However, data from the Solar Energy Industries Association suggests that solar power accounts for less than 1% of U.S. energy usage.

PTS, Inc. (PTSH) announces changes to executive management, external accounting

PTS, Inc. (OTCBB: PTSH) announced today that the company had appointed Teresa Rubio to Treasurer and Chairman of the Board of Directors. The company also announced it has appointed HJ & Associates, LLC, as its independent registered public accounting firm to begin providing services for the second fiscal quarter of 2010.

It is anticipated that Ms. Rubio, in her new position, will accept an annual salary of $1.00 plus future PTSH warrants and options commutative to her contribution to PTSH as determined by the entire PTSH board, interim and future management. Teresa Rubio currently owns 15 million series D Pf shares of PTSH, on a fully diluted basis equates to 3 billion common shares. Ms. Rubio intends to increase her stock holdings over the next 6 – 12 months.

The appointment of Rubio will replace Marc Pintar, who will continue in the capacity of interim Chief Executive Officer, as well as interim member of the Board. Commenting on recent events, Mr. Pintar said, “Ms. Rubio is an experienced businesswoman with a strong background in global finance and accounting. Ms. Rubio brings over 40 years of entrepreneurial experience in financial markets with focus on business management, administration and accounting in Canada, Spain and Argentina. PTSH welcomes Ms. Rubio with open arms. We are fortunate to have her on our team moving forward”.

Teresa Rubio comments, “I am impressed with the vision and drive of PTSH and accept the challenges. I believe with my experience and contacts I can assist Mr. Pintar in his quest to bring value back to the stockholders of PTSH. I am very pleased to be part of this organization and look forward to the future of this company”.

Additionally, PTSH also announced today that the Company would replace Lynda R. Keeton CPA, LLC, with HJ & Associates, LLC, as its independent registered public accounting firm to begin providing services for the fiscal second quarter of 2010.

Mr. Pintar also addressed these changes, “In connection with our growth strategy and expansion plans going forward, we determined that it was important to change public auditing firms. We believe HJ & Associates, LLC is the best fit for PTSH as it enters a new phase of growth and development.”

PTSH has endured a turbulent start to 2010, with share prices reaching a 52-week high in June of four-tenths of a cent, but sharply declining thereafter to its current price of twelve one-hundredths of a cent, which hovers near a 52-week low.