Neah Power Systems Inc. (OTCBB:NPWZ) Crashes On Record Volume
It seems like the gain in price for the stock of Neah Power Systems Inc. (OTCBB:NPWZ) in the midst of the pump campaign, which was inidiated right before their Q2 report was filed was just what the insiders were waiting for to begin the dumping fiasco.
The company’s stock is traded heavily this week after a promotional campaign was started on August 20, a day before the Q2 report was filed, but yesterday’s amount of traded shares was a peak for the company’s stock. NPWZ‘s stock plummeted a hefty 29% on a volume that was 10 times their average, with a whopping 54 million shares switching hands, generating a total trade value of $258 thousand.
This comes as a big blow for the ticker after the optimistic trade sessions from Wednesday and Thursday in which the stock gained a total of 75% on increasing volumes. At least the company had some revenues in this years Q2 unlike 2012’s. See the digits of prime interest for yourself.
- cash: $12 thousand
- total current assets: $123 thousand
- total current liabilities: $1.5 million
- revenues: $103 thousand
- net loss: $574 thousand
We, as well as all the people who invested in NPWZ, are a bit dissapointed from the results of this year’s second quarter, because we know that the company put a lot of money in research and development during the first quarter, but the results weren’t really good.
The dissapointment gets stronger when you see that even though the company didn’t generate any revenue in the same period last year it managed to register $40 thousand more in sales in the nine months ended June 30, 2012. If that wasn’t dissapointing enough the registered net loss for the nine months ended June 30, 2012 is $316 thousand, compared to $1.7 million in this year.
All in all NPWZ are a risky investment choice. Be sure to do a lot of due diligence and weigh out all the risks before taking a decision to invest in the company.
On the other hand, there was a big surprise in yesterday’s trade session from Proguard Acuisition Corp (OTCMKTS:PGRD) who were brought back to life with a pump from The Stock Psycho and jumped a whopping 3250% on a volume that was well above their average of 14 thousand with a total of 416 thousand traded shares.
Another surprise came from the stock of Xumanii, Inc. (OTCMKTS:XUII), who gained 50% after a long period of decline that started in the beginning of the month. They closed the day at $0.043, with a trade value of $231 thousand.