Alternative Energy Partners, Inc. (OTCBB:AEGY) Jumps High
Alternative Energy Partners, Inc. (OTCBB:AEGY) has had its ups and downs and lately it seemed that the company stock is headed in a downward direction. Some news from yesterday, however, managed to obliterate the losses sustained in more than half a month and push AEGY to the 1 cent borderline.
AEGY, operating as PharmaJanes, has had a relationship with SK3 Group, Inc. (OTCMKTS:SKTO) for some time now, selling the latter’s products through their website. The two companies have apparently decided to take this one step further to accomplishing their common goals.
Yesterday, it was announced that AEGY and SKTO have agreed on a merger and are working out the final details. The deadline they have set for themselves and for the audit of both firms is 30 days in which they will clear out the terms.
For now it is certain that the previously announced AEGY dividend of 100 million shares will go as planned and they will apply for a new trading symbol and a new CUSIP number in a common goal to do business as one and with expectations of an up listing to a higher exchange, like NASDAQ or AMEX.
This was some good news considering the dire financial state of AEGY, because SKTO is really going strong, generating massive revenues and a $3.2 million net income for the third quarter of 2013. Below you can see the numbers of prime interest from AEGY‘s report for the quarter ended October 31, 2013 for comparison.
- cash: $410
- total assets: $10 thousand
- current liabilities: $2 million
- total liabilities: $2.2 million
- revenues: $0
- net loss: $230 thousand
Still, the good news were enough to provide for a 69% jump in price yesterday for AEGY, who closed at $0.0088 per share, while SKTO gained only 18%, which is rather understandable. We also saw a spike in volumes as 487.3 million shares switched hands, generating $3.6 million in trade value.
It is surely going to be an interesting month for both of the companies and both stocks will certainly be quite volatile, as we can see from the start of today’s session for AEGY. You shouldn’t skip on doing your due diligence in any case.
Yesterday, we saw a mysterious run from Therapy Cells, Inc. (OTCMKTS:TCEL), who managed to burst 429% in price seemingly out of nowhere, but the company stock has started today’s session on a bad foot, just like AEGY.
