Helix Wind’s Fate is Blowin’ in the Wind
Helix Wind, which appeared to be in critical condition last year when Scott Weinbrandt replaced co-founder Ian Gardner as CEO, says it’s now searching for a new CEO to step in for Weinbrandt, according to a regulatory filing. Weinbrandt, a former computer industry executive, left the company and its board on Dec. 2. The tiny renewable energy company, which makes vertical axis wind turbines, also disclosed in a recent filing that it has almost 701 million shares outstanding. Helix, which trades on the over-the-counter market, disclosed last month that it had an accumulated deficit of nearly $41.7 million as of Sept. 30 and negative cash flow, raising doubts about the company’s ability to continue as a going concern. The San Diego Union-Tribune noted the company’s increasing troubles in a post today.