Neah Power Systems (NPWZ)
It?s not often that I come across a pump and dump company that I actually want to succeed? but I guess there?s a first for everything!
Why do I want this company to succeed?
Because they?re trying to invent the next generation power system. Wouldn?t it be great to put the fossil fuel economy behind us? We?d forget all those wars over oil and being at the mercy of the Middle East?
While it?s a nice dream, the activity in this stock is shameless. It?s a pump and dumper?s dream. And that makes me sad.
So what?s going on?
The pumpers are out in force paid by a third party to hype the stock. No doubt someone?s selling into the increased buying activity the pumpers are creating.
Wise Penny Picks was paid $10 grand for a two day promotion?Oh, and don?t forget, they?ve already received $35,000 for prior promotions.
The pumper says the company is just a few months away from signing a big contract for their fuel cells. The problem? I?ve heard the same line used by other companies in the fuel cell business? almost a decade ago.
You were hearing the same thing back when fuel cells were all the rage? Unfortunately, they?ve never taken off.
If NPWZ gets the contract, great? but I?m not holding my breath.
The other problem, this company has never sold anything. They have zero revenue and are losing over a million dollars a quarter. It?s not good.
They have $77,917 in assets and a whopping $5 million in liabilities. If they don?t raise a huge chunk of money, they aren?t long for this world.
And of course, their accountants gave them a nice fat going concern statement.
As much as I want a new technology to save us from the evils of big oil, this isn?t the technology nor the company? and you should stay away from this pumper?s stock.
AI
