Kleangas Energy Technologies, Inc. (OTCMKTS:KGET) Spikes on Series of Emails
Kleangas Energy Technologies, Inc. (OTCMKTS:KGET) is finished almost before it started in earnest. The ticker wiped out the gains made on Thursday, sliding down 22% to $0.019, as selling reached above $7.9 million. KGET was stoked again by a brief promotion starting last week, but the effect of the emails quickly wore out. 
Several emails were sent out, for a very small compensation of $2,500. The last messages from Penny Investor Network boosted KGET mostly based on the momentum of the stock, as the newly active ticker of a few months was taken up for the second time with a bid for higher prices.
KGET may be low-priced and thus able to achieve significant daily gains, yet the biggest red flag is that the ticker is mostly inactive outside paid promotions. Also, KGET changed identities last year and for months drifted with zero volumes, only to graduate to very low trading for months. For a while, KGET hovered in the triple-zero range, and currently has a market cap of just around $5 million.
While KGET makes large promises of its clean energy technologies, its balance sheet remains extremely shaky, and typical of double-zero OTC companies:
• $29 cash and total assets!!!
• $469,734 current liabilities
• No revenues
• $36,750 net quarterly loss
Rightly, investors’ forums are quite skeptical of this company. There is some allowance made for the upward potential of a generally underpriced stock, but KGET is yet to make a significant trend.
In addition to the email campaign, KGET enjoyed a mention on MoneyTV, a specialized stocks and money program. The company’s President Willam Wiley announced the company received a purchase order for $10 million- but we will have to wait and see how this will pad the bottom line.
Now, it is up to KGET to deliver its ecologically sustainable pellets in the next months, and show it can improve its revenues significantly.
KGET is an outlier among the most represented industries on the OTC markets, as currently it is the day for marijuana stocks and the occasional oil and energy company. A recent underpriced mover was Tranzbyte Corp. (OTCBB:ERBB), which almost broke through the one-cent level, but had a depressing few days.
If you like this price range for the opportunities for fast growth, keep in mind that the fallout is also sudden and painful. Avoid investing unsustainable sums if the ticker is rising on general exuberance and disproportionate buying interest.
