Helix Wind’s Fate is Blowin’ in the Wind

12/7/10Follow @bvbigelow

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.



Bruce V. Bigelow is the editor of Xconomy San Diego. You can e-mail him at bbigelow@xconomy.com or call (619) 669-8788 Follow @bvbigelow

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