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<p><span style="font-size: 14pt;">On November 8, 2023, the Company's Board of Directors approved a plan to stop production and operations of residential renewable energy products, which include our OutBack and Mojave brands. Management determined that residential renewable energy products no longer fit with the company's core strategy and resources will be better allocated toward commercial energy solutions for enterprise customers. The Company currently estimates that the total charges for these actions will amount to $23.5 million relating primarily to $22.6 million in non-cash charges primarily including inventory and an indefinite-lived intangible asset write-offs and $0.9 million in cash charges including employee severance and retention payments. The plan is expected to be completed in fiscal 2024. During the nine months of fiscal 2024, the Company recorded non-cash charges totaling $6.6 million primarily related to indefinite-lived intangible asset write-off and cash charges of $0.4 million related to severance costs. The Company also recorded a non-cash write off relating to inventories of $16.1 million, which was reported in cost of goods sold.<br clear="all" /></span></p>
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<div>To say I am curious about what is going on is an understatement. </div>
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<pre><strong><span style="font-size: small;">Dave Angelini Offgrid Solar
"we go where powerlines don't"
<a href="http://members.sti.net/offgridsolar/" rel="noopener"> </a><a style="color: blue; font-size: 11px; font-family: 'Lucida Grande', Verdana, Arial, Helvetica, sans-serif; font-weight: 400; background-color: #ffffff;" href="https://offgridsolar1.com/" rel="noopener noreferrer"><span style="font-size: 12pt;">https://offgridsolar1.com/</span></a><a href="http://members.sti.net/offgridsolar/" rel="noopener"> </a>
e-mail <a href="mailto:offgridsolar@sti.net">offgridsolar@sti.net</a>
text 209 813 0060</span></strong></pre>
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<p id="reply-intro">On 2024-05-19 10:51 am, Lou Russo via RE-wrenches wrote:</p>
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<div dir="ltr">I started poking through EnerSys's (The most recent owner of Outback) SEC filings in hopes to find who the new buyer is. I found nothing related to the sale but found this in their most recent quarterly report :
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<div>On November 8, 2023, the Company's Board of Directors approved a plan to stop production and operations of residential renewable energy products, which include our OutBack and Mojave brands. Management determined that residential renewable energy products no longer fit with the company's core strategy and resources will be better allocated toward commercial energy solutions for enterprise customers. The Company currently estimates that the total charges for these actions will amount to $23.5 million relating primarily to $22.6 million in non-cash charges primarily including inventory and an indefinite-lived intangible asset write-offs and $0.9 million in cash charges including employee severance and retention payments. The plan is expected to be completed in fiscal 2024. During the nine months of fiscal 2024, the Company recorded non-cash charges totaling $6.6 million primarily related to indefinite-lived intangible asset write-off and cash charges of $0.4 million related to severance costs. The Company also recorded a non-cash write off relating to inventories of $16.1 million, which was reported in cost of goods sold.<br clear="all" />
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<div>To say I am curious about what is going on is an understatement. </div>
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<div>Aloha,
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<div>Lou Russo </div>
<div>Owner</div>
<div><a href="mailto:lou@spreesolarsystems.com" rel="noreferrer">lou@spreesolarsystems.com</a></div>
<div>808 345 6762</div>
<div>Spree Solar Systems LLC </div>
<div>CT-34322</div>
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<div class="v1gmail_attr" dir="ltr">On Sun, May 19, 2024 at 2:21 AM Jay via RE-wrenches <<a href="mailto:re-wrenches@lists.re-wrenches.org" rel="noreferrer">re-wrenches@lists.re-wrenches.org</a>> wrote:</div>
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<div dir="ltr">I agree with you William</div>
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<div dir="ltr">While there could be all sorts of valid reasons for the downtime. </div>
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<div dir="ltr">What's not acceptable is the lack of communication and notification that it was going to happen or had happened. </div>
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<div dir="ltr">If they do have new owners they are not starting well. </div>
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<div dir="ltr">Jay</div>
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<blockquote type="cite" style="padding: 0 0.4em; border-left: #1010ff 2px solid; margin: 0">On May 18, 2024, at 9:42 PM, William Miller via RE-wrenches <<a href="mailto:re-wrenches@lists.re-wrenches.org" rel="noreferrer">re-wrenches@lists.re-wrenches.org</a>> wrote:<br /><br /></blockquote>
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<p class="v1MsoNormal"><span style="font-family: Verdana,'sans-serif'; color: #1f497d;">Friends:</span></p>
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<p class="v1MsoNormal"><span style="font-family: Verdana,'sans-serif'; color: #1f497d;">I am sure you are all acutely aware, but this is not a trivial matter. We depend on Optics for alerts and trouble shooting. We rely on Optics for the history it records to analyze trends and evaluate production and consumption. I doubt the data lost will back-fill. I sell Outback based in great part on the Optics interface. For this system to be down for days at a time is not a good sign at all.</span></p>
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<p class="v1MsoNormal"><span style="font-family: Verdana,'sans-serif'; color: #1f497d;">I will be lighting up the phone lines on Monday to find out what happened and to emphasize this cannot become a pattern.</span></p>
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<p class="v1MsoNormal"><span style="font-family: Verdana,'sans-serif'; color: #1f497d;">William</span></p>
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<p class="v1MsoNormal"><span style="font-family: Arial,'sans-serif'; color: #1f497d;">Miller Solar</span></p>
<p class="v1MsoNormal"><span style="font-family: Arial,'sans-serif'; color: #1f497d;">17395 Oak Road, Atascadero, CA 93422</span></p>
<p class="v1MsoNormal"><span style="font-family: Arial,'sans-serif'; color: #1f497d;">805-438-5600</span></p>
<p class="v1MsoNormal"><span style="font-family: Arial,'sans-serif'; color: #1f497d;"><a href="http://www.millersolar.com/" target="_blank" rel="noopener noreferrer"><span style="color: blue;">www.millersolar.com</span></a></span></p>
<p class="v1MsoNormal"><span style="font-family: Arial,'sans-serif'; color: #1f497d;">CA Lic. 773985</span></p>
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<p class="v1MsoNormal"><strong><span style="font-size: 10pt; font-family: Tahoma,'sans-serif';">From:</span></strong><span style="font-size: 10pt; font-family: Tahoma,'sans-serif';"> RE-wrenches [mailto:<a href="mailto:re-wrenches-bounces@lists.re-wrenches.org" rel="noreferrer">re-wrenches-bounces@lists.re-wrenches.org</a>] <strong>On Behalf Of </strong>Lou Russo via RE-wrenches<br /><strong>Sent:</strong> Saturday, May 18, 2024 11:50 AM<br /><strong>To:</strong> RE-wrenches<br /><strong>Cc:</strong> Lou Russo<br /><strong>Subject:</strong> Re: [RE-wrenches] Optics</span></p>
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<p class="v1MsoNormal">All my sites are currently down.</p>
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<p class="v1MsoNormal">Not related but I tried to call tech support yesterday during business hours and got message saying thank you for calling Outback Sales leave a message.</p>
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<p class="v1MsoNormal">I do hope they are just in transition but I got a bad feeling about this. I hope I am wrong.</p>
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<p class="v1MsoNormal">Has anyone heard for sure who bought them? I know they were bought from talking to tech support but that is all I know and the Internet has 0 info on a recent sale. </p>
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<p class="v1MsoNormal">On Sat, May 18, 2024, 6:48 AM Dan Fink via RE-wrenches <<a href="mailto:re-wrenches@lists.re-wrenches.org" rel="noreferrer">re-wrenches@lists.re-wrenches.org</a>> wrote:</p>
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<p class="v1MsoNormal">Mine all went down yesterday at noon MDT. I wonder if this has to do with the sale of Outback?</p>
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<p class="v1MsoNormal" style="vertical-align: baseline;"><span style="font-size: 9.5pt; font-family: Arial,'sans-serif'; color: #222222; border: 1pt none windowtext; padding: 0in;">Dan Fink</span><span style="font-family: Calibri,'sans-serif'; color: black;"></span></p>
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<p class="v1MsoNormal" style="vertical-align: baseline;"><span style="font-size: 9.5pt; font-family: Arial,'sans-serif'; color: #222222;">Owner, Buckville Energy Consulting LLC</span></p>
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<p class="v1MsoNormal" style="vertical-align: baseline;"><span style="font-size: 9.5pt; font-family: Arial,'sans-serif'; color: #222222;">IREC Certified Instructor for PV and Small Wind Installation</span></p>
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<p class="v1MsoNormal" style="vertical-align: baseline;"><span style="font-size: 9.5pt; font-family: Arial,'sans-serif'; color: #222222;"><a href="mailto:dan.fink@greendustrialtraining.com" rel="noreferrer">d</a><a href="mailto:anbob88@gmail.com" rel="noreferrer">anbob88@gmail.com</a></span></p>
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<p class="v1MsoNormal" style="vertical-align: baseline;"><span style="font-size: 9.5pt; font-family: Arial,'sans-serif'; color: #222222;">970-672-4342</span></p>
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<p class="v1MsoNormal">On Sat, May 18, 2024 at 10:17 AM William Miller via RE-wrenches <<a href="mailto:re-wrenches@lists.re-wrenches.org" rel="noreferrer">re-wrenches@lists.re-wrenches.org</a>> wrote:</p>
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<p class="v1MsoNormal">Friends:</p>
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<p class="v1MsoNormal">100% of our Optics sites are down since 11 AM yesterday. Is it just us?</p>
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<p class="v1MsoNormal">William Miller<br />Miller Solar.com<br />805-438-5600<br /><a href="http://www.millersolar.com" target="_blank" rel="noopener noreferrer">www.millersolar.com</a></p>
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