Energous Corp (WATT): SVP George Holmes Just Bought His First Shares

Energous Corp (NASDAQ:WATT) is a very young company and it has just seen its first ever insider purchase. Today George Holmes, SVP of Sales and Marketing, purchased 602 shares at an average price of $13.74 per share. The total dollar value of the transaction is slightly more than $8250. Stephen Rizzone, President, Chairman, and CEO of the company, met George Holmes at Ortel in 2000. Here is how Holmes introduced himself at the company’s first conference call:

“I began in early 80s in finance and operations before moving into telecom equipment as a sales guy. I started with Telecom Solutions which became Symmetricom. I built a worldwide sales presence and then I moved into some at Level One Communications. I grew sales from $25 million to over $150 million revenue. From there I moved into Optical Components at Ortel, where I joined Steve and we turned that company around and then sold to Lucent in the late 90s.

After the sales to Lucent, I ran North American sales for Lucent microelectronics about 85% of the worldwide revenue. From there I did a number of start-ups, two of which were in the widest power arena, before transitioning into Solar where I ran sales for to the company based in Austin. Before joining teams here in October, most relevant to my career as it relates to this opportunity is my time at Lucent when we built, the early days of the Wi-Fi infrastructure, selling components into that space as well as systems and infrastructure equipment. Additionally, I’ve done two wireless power companies both PowerCast and Pure Energy, which gave me great deal of market knowledge.”

Energous Corp (NASDAQ:WATT) went public at the end of March and raised nearly $25 million. The company has 9.4 million shares outstanding and another 2.7 million warrants and options outstanding. Energous Corp (NASDAQ:WATT)’s Wattup technology is very promising. Here is what Stephen Rizzone said about it:

“With our WattUp technology, this is very active process is going to become passive. Consumers will be charging their devices when they walk into a room, when the devices are in their pockets, on the desks or sitting on front sit of their car. In short, our WattUp technology is going to completely transform the way consumers use electricity. We believe we can affect paradigm change that faster adoption of our technology along the same lines and to the same extent as Wi-Fi.”

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The 10 Largest Pharmaceutical Companies In the World

The 10 Most Expensive Android Apps

The 9 Most Expensive Designer Bags in the World

The 7 Most Expensive Real Estate in the World

The 10 Most Expensive eBay Items Ever Sold

The 10 Most Expensive iPhone Apps

The 9 Most Expensive Designer Shoes in the World

The 10 Most Expensive Cigarette Brands

The 10 Most Expensive Law Schools in the US

The 10 Best Wall Street Movies

The 10 Most Expensive Golf Clubs Ever Sold

The 10 Most Expensive Golf Memberships

The 10 Best Disney Characters Ever Created

The 8 Best Foods for Gaining Weight

The 10 Most Expensive Colleges in the World

The 7 Most Memorable Ad Campaigns of All Time

The 7 Most Expensive High Schools in the World

The 10 Electric Vehicles with the Longest Range

The 10 Cities with the Worst Drivers in the World

The 10 Most Expensive Dresses Ever Created

10 Islands to Visit Before You Die

10 Famous Celebrities Who Needed Rehab

The 15 Countries with the Largest Oil Reserves

The 10 Most Overused Excuses in the World

The 5 Best iOS Apps You Can’t Get on Android

5 Companies Damaged By Social Media Blunders

The 10 Most Legendary Blues Songs

The 10 Most Lawless Places in the World

4 Reasons China is a Threat to the US

The 17 Most Sugary Drinks in the World

The 10 Most Ruthless Rulers in History

The 10 Greatest Generals in History

Top 8 Travel Destinations for 2015

The 10 Safest Dog Breeds for Children

The 10 Most Stolen Vehicles in the US

The 7 Most Expensive Celebrity Weddings

The 10 Best LoL Teams in the World

Top 10 Worst Marketing Campaigns Ever Produced

Top 5 Diets that Help You Lose Weight

The 10 Best Ways to Stay Awake

7 Artists That Switched Musical Genres

The 10 Most Expensive Cities to Live in New Jersey

The 10 Best High Schools in New York

The 10 Countries With the Least Gender Inequality

The 6 Biggest Musician-Manager Feuds

The 10 Countries with the Cheapest Gas Prices

The 7 Most Theatrical Bands of All Time

The 8 Worst Band Breakups of All Time

The 10 Most Important South American Leaders

The 7 Most Successful Casting Show Winners

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!