NO MEANGFUL REVENUES…NOTHING BUT LOSSES SINCE DAY ONE…A STOCK DOWN 95% AND THEY STILL RECEIVED $43 MILLION

THE COMPANY HAS NEVER HAD MEANINGFUL REVENUES…HAS ALWAYS LOST MONEY. THE STOCK HAS GONE FROM $53.50 IN 2005 TO A BIG FAT NOTHING TODAY…AND THEY STILL RECEIVED A $43 MILLION LOAN GUARANTEE FROM THE DEPARTMENT OF ENERGY! WHAT THE HELL IS GOING ON HERE?

(Reuters) — Beacon Power Corp filed for bankruptcy on Sunday, just a year after the energy storage company received a $43 million loan guarantee from a controversial Department of Energy program.

The bankruptcy comes about two months after Solyndra — a solar panel maker with a $535 million loan guarantee — also filed for Chapter 11, creating a political embarrassment for the administration of President Barack Obama, which has championed the loans as a way to create “green energy” jobs.

Beacon Power drew down $39 million of its government-guaranteed loan to fund a portion of a $69 million, 20-megawatt flywheel energy storage plant in Stephentown, New York.

Source: http://www.reuters.com/article/2011/10/31/us-beaconpower-bankruptcy-idUSTRE79T39320111031