Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from Burt Chao - Simmons & Company.
Burt Chao - Simmons & Company
I guess my first question is, can you reconcile I guess the funding and maybe give out what you expect you need? I know you don’t have any additional large capital expenditures here in 2009, but what you expect for and if you made up what your expecting to spend in the rest of this year versus what you’ve got on your balance sheet right now?
John Breckenridge
I think actually the balance sheet will be pretty consistent with the rest of the year and so we’ll be turning over our assets at pretty much the current level or starting to work down our inventory a little bit more.
Burt Chao - Simmons & Company
Just as a follow-up to the overall situation with management and Solarfun in general; with Harold’s resignation and departure from the company, is it your intent to find somebody else from the solar industry and bring them in or will it be something similar to when Harold first came on and your looking for a CEO maybe with some other industry experience, that Good Energies could potentially bring on or somebody else of that nature?
John Breckenridge
I think we’re not prepared to comment on the specific direction. We may or may not go with a replacement for Harold. I guess I would just like to reiterate though that I think with the management committee formation here, which just includes me and Peter; we think we are in a very stable environment right now. So, we are in a situation where we feel that we can do the right thing for the company at the right time, but that’s as far as we can comment at the moment.
Burt Chao - Simmons & Company
Just one last quick question on, I guess margins going forward, without actually talking to a specific margin. You said that you fully expect ASPs to decline in the back half of the year, but that decline should be outpaced by reductions in polysilicon pricing?
With polysilicon about $70 a kg right now, can you give me a rough sense of what you think ASP is relative to where they are today; will decline with by the end of this year and also how quickly you think your spot pricing?
I know spot pricing may not necessarily be a direct proxy for what your cost of goods are sold to, but where do you think poly can go by the end of this year and where do you think ASPs and the market will go?
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