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Daystar Technologies (Daystar Technologies) Net-Net Working Capital : $-4.48 (As of Sep. 2012)


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What is Daystar Technologies Net-Net Working Capital?

In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. This is a conservative way of estimating the company's value.

Daystar Technologies's Net-Net Working Capital for the quarter that ended in Sep. 2012 was $-4.48.

The industry rank for Daystar Technologies's Net-Net Working Capital or its related term are showing as below:

DSTI's Price-to-Net-Net-Working-Capital is not ranked *
in the Semiconductors industry.
Industry Median: 8.06
* Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.

Daystar Technologies Net-Net Working Capital Historical Data

The historical data trend for Daystar Technologies's Net-Net Working Capital can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Daystar Technologies Net-Net Working Capital Chart

Daystar Technologies Annual Data
Trend Dec03 Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11
Net-Net Working Capital
Get a 7-Day Free Trial Premium Member Only 107.17 10.78 -44.55 -16.51 -7.33

Daystar Technologies Quarterly Data
Dec07 Mar08 Jun08 Sep08 Dec08 Mar09 Jun09 Sep09 Dec09 Mar10 Jun10 Sep10 Dec10 Mar11 Jun11 Sep11 Dec11 Mar12 Jun12 Sep12
Net-Net Working Capital Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -7.24 -7.33 -6.42 -4.79 -4.48

Competitive Comparison of Daystar Technologies's Net-Net Working Capital

For the Semiconductors subindustry, Daystar Technologies's Price-to-Net-Net-Working-Capital, along with its competitors' market caps and Price-to-Net-Net-Working-Capital data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Daystar Technologies's Price-to-Net-Net-Working-Capital Distribution in the Semiconductors Industry

For the Semiconductors industry and Technology sector, Daystar Technologies's Price-to-Net-Net-Working-Capital distribution charts can be found below:

* The bar in red indicates where Daystar Technologies's Price-to-Net-Net-Working-Capital falls into.



Daystar Technologies Net-Net Working Capital Calculation

Daystar Technologies's Net-Net Working Capital (NNWC) per share for the fiscal year that ended in Dec. 2011 is calculated as

Net-Net Working Capital(A: Dec. 2011 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(0.004+0.75 * 0+0.5 * 0-10.117
-0-0)/1.38039
=-7.33

Daystar Technologies's Net-Net Working Capital (NNWC) per share for the quarter that ended in Sep. 2012 is calculated as

Net-Net Working Capital(Q: Sep. 2012 )
=(Cash, Cash Equivalents, Marketable Securities+0.75 * Accounts Receivable+0.5 * Total Inventories-Total Liabilities
-Preferred Stock-Minority Interest)/Shares Outstanding (EOP)
=(0.033+0.75 * 0+0.5 * 0-11.218
-0-0)/2.49902
=-4.48

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full.

In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is dubbed "an imperfect creditorship position" that is best placed on the balance sheet alongside funded debt.

This is a conservative way of estimating the company's value.


Daystar Technologies  (OTCPK:DSTI) Net-Net Working Capital Explanation

One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Graham's strategy produced similar results.

Benjamin Graham looked for companies whose market values were less than two-thirds of their net-net value. They are collected under our Net-Net screener.


Daystar Technologies Net-Net Working Capital Related Terms

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Daystar Technologies (Daystar Technologies) Business Description

Traded in Other Exchanges
N/A
Address
DayStar Technologies, Inc., a Delaware corporation, was incorporated in February 1997. It completed its initial public offering in February 2004. It is a development stage enterprise, which develops, manufactures and markets products for the solar photovoltaic (PV) industry. The Company has developed a proprietary thin film deposition technology for solar photovoltaic (PV) products. It utilizes a proprietary one-step sputter deposition process and has manufactured a commercial scale deposition tool to apply high-efficiency copper indium gallium diselenide (CIGS) material over large area glass substrates in a continuous fashion. The Company intends to integrate this tool with commercially available thin film manufacturing equipment, which will provide it with a critically differentiated manufacturing process to produce low-cost monolithically integrated, CIGS-on-glass modules that address the grid-tied, ground-based PV market. It has initiated construction of its initial module production line. To facilitate its entry into the addressable solar PV market, it has entered into a contract with Blitzstrom GmbH, one of thin film solar PV integrators, that commits Blitzstrom to purchase a minimum of 50% of its production through 2011, subject to these products meeting defined performance criteria. The solar electricity industry currently supplies modules used in solar PV systems primarily for grid-connected systems.
Executives
William Steckel director 2972 STENDER WAY, SANTA CLARA CA 95054
Richard C Green director 4200 W 115TH STREET, SUITE 210, LEAWOOD KS 66211
Kevin S Flannery director
Richard Nevins director 20580 PALMER AVENUE, SONOMA CA 95476
Scott M Schecter director
Lampe, Conway & Co. Llc 10 percent owner 680 FIFTH AVENUE, SUITE 1202, NEW YORK NY 10019
Lc Capital International Llc 10 percent owner C/O LAMPE, CONWAY & CO., LLC, 680 FIFTH AVENUE, SUITE 1202, NEW YORK NY 10019
Lc Capital Advisors Llc 10 percent owner C/O LAMPE, CONWAY & CO., LLC, 680 FIFTH AVENUE, SUITE 1202, NEW YORK NY 10019
Richard F Conway 10 percent owner C/O LAMPE, CONWAY & CO. LLC, 680 FIFTH AVENUE, SUITE 1202, NEW YORK NY 10019
Steven Lampe 10 percent owner C/O LAMPE, CONWAY & CO. LLC, 680 FIFTH AVENUE, SUITE 1202, NEW YORK NY 10019
Lc Capital Master Fund Ltd 10 percent owner C/O TRIDENT FUND SERVICES (BVI) LIMITED, PO BOX 146, WATERFRONT DR, WICKHAMS CAY, ROAD TOWN, TORTOLA D8 00000
Lc Capital Partners Lp 10 percent owner 680 FIFTH AVENUE, SUITE 1202, NEW YORK NY 10019
Quercus Trust other: Former 10% Owner 2309 SANTIAGO DRIVE, NEWPORT BEACH CA 92660
Steven Aragon officer: Vice-President Engineering 355 SOUTH TECHNOLOGY DRIVE, CENTRAL ISLIP NY 11722
David Gelbaum 10 percent owner, other: Co-Trustee 2309 SANTIAGO DRIVE, NEWPORT BEACH CA 92660

Daystar Technologies (Daystar Technologies) Headlines