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News Breaks
June 4, 2014
09:31 EDTACFNDSIT receives $3.4M in multiple recurring orders for development and production
DSIT Solutions, an Acorn Energy company, disclosed the receipt of several follow-on orders for development and production from a number of its customers in Israel. The total value of these orders is approximately $3.4M. The projects involve both hardware and embedded software.
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March 18, 2015
08:32 EDTACFNAcorn Energy to host conference call
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07:59 EDTACFNAcorn Energy reports DSIT backlog of $28M
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07:58 EDTACFNAcorn Energy suspends operations at USSI subsidiary
Acorn Energy announced that it has stopped funding its majority-owned US Seismic Systems , or USSI, subsidiary and that USSI has suspended operations and terminated substantially all employees. USSI intends to sell its assets and is exploring ways to maximize value for creditors and other stakeholders, expecting that most of the proceeds from any sale of its assets will be used to pay creditors. It is uncertain whether there will be any proceeds available to Acorn Energy or other USSI shareholders. Acorn will record write offs on its 2014 financial statements of substantially all USSI assets, including $4.9M of inventory, $3.4M of goodwill and intangibles, $1.0M of fixed assets.

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