Hydrogen Future Corp. (OTCMKTS:HFCO) Reappears as Fuel Cell Company
Hydrogen Future Corp. (OTCMKTS:HFCO) came in as yet another ticker showing there is a minor bubble developing with companies that claim to hold hydrogen fuel cell technologies. HFCO increased in value four times in just two days, as Tuesday came with an absolute record in bought shares. The stock price increased by 100% to $0.0401, on dollar volumes above $2.53 million.
The new chapter in the life of HFCO comes right after the company scrubbed its slate clean with a 500-for-one reverse split, decreasing the number of shares outstanding to just 109 million, and the market cap to a rock-bottom $37,000 even after the huge gain in prices. Before the new start, HFCO flew under the name of A5 Laboratories, Inc. with the ticker AFLB, and received quite a bit of attention from paid pumpers.
Now, promoters are still shy to come back to the new identity of the company. HFCO itself is giving out only basic press releases of financials and other technical matters. The latest financial filing, from the end of February, reveals:
- Zero cash
- $206,000 total assets
- $1.46 million total current liabilities
- No revenues
- $4.37 million net loss since inception
All of this is on top of the warning that Google does not find the trademarked product, HydraStar 5000, which the company claims is already being marketed. Not to mention that the company is listed as a producer of agricultural products.
Investors’ forums also suspect that there are additional shares of HFCO waiting in the sidelines even after the split, and that could be causing the influx of new buyers. Now, it is a matter of time to see how deep selling will go.
Hypersolar, Inc. (OTCMKTS:HYSR) is the other big mover in the fuel cell sector, and this company also survived quite well, with another day of robust buying on Tuesday. Nevertheless, HYSR is also without a marketable product, and is standing on a tall and shaky peak. HYSR had a dramatic day that ended at $0.07, as selling pressures are appearing.
Quantum Materials, Corp. (OTCMKTS:QTMM) is currently directionless, but kept its levels at $0.06. According to analysts, the fuel cells, which may be in use and sold by mainstream companies, are also creating a bubble in stock prices.