Alternative Energy Partners Inc (OTCBB:AEGY) is Extremely Volatile
According to the SEC filings, Alternative Energy Partners Inc (OTCBB:AEGY)’s principal offices are situated in a rather good-looking business building in Boca Raton, Florida. The same address appears to be offered as a virtual office solution and it’s also used by Medefile International Inc (OTCMKTS:MDFI) and True 2 Beauty Inc (OTCMKTS:TRTB).
Investors don’t seem too bothered about this fact.
AEGY isn’t the most active company on the PR Front. They haven’t announced any significant developments since April 4 and the latest press release advises us to take a look at a YouTube show where some celebrities smoke pot.
Traders are not too concerned about this, either.
On March 24, AEGY published the 10-Q covering the quarter ended January 31 and it shows that the company is in a rather big financial mess. Here’s a summary of the most important figures:
- cash: $89
- total assets: $6 thousand
- total liabilities: $1.8 million
- NO revenue since inception
- net loss since inception: $10.2 million
Investors aren’t taking notice of AEGY‘s financial problems and they don’t seem to care about the stock’s volatility.
The ticker registered its $0.0119 52-week high just four months ago. Currently, it’s struggling to break through $0.003, but apparently, the people who trade AEGY‘s stock don’t perceive this as too much of a problem.
They couldn’t care less about the fact that in a matter of seven months, the company issued more than 2.7 billion shares as a conversion of $635 thousand worth of notes. They apparently think that the conversion rate (which stands at around $0.0002 per share) isn’t going to threaten their investments.
None of these things seem to be bothering the investors. Yesterday, they traded nearly $415 thousand worth of shares as the price went up by a healthy 31%. The excitement is still strong and many people around the discussion boards reckon that the stock definitely has enough steam to continue running up the charts. Are they right, though?
The ticker’s historical performance certainly raises some doubts. As we mentioned already, AEGY hasn’t proven itself to be the most resilient stock on the OTC Markets and, considering the cause for the current commotion, we’re not entirely convinced that this time, it will be able to do it.
The increased interest at the moment is caused by a lot of rumors about the merger between AEGY and SK3 Group Inc (OTCMKTS:SKTO). Apparently, some people believe that it will be closed really soon and they are doing everything they can to share their thoughts with others.
Sadly, the two companies haven’t issued any official information since they declared their intentions for the merger. No details around the deal were given and no deadlines were set. This means that the only thing you can base your investment decision on at the moment, is some forward-looking posts around the internet forums. We’ll leave it up to you to decide whether that’s a good enough reason to put your money on the line.
