Lone Promotion for Solar America Corporation (OTC:SOLX)
Solar America Corporation (OTC:SOLX), a company claiming to be making great strides in solar energy, got a lone pumper cheering for it last afternoon.
The promoter’s name is Email Stock Picks and they are working on a humble budget of just $10 thousand, as disclosed in the email. The pump contains the usual, predictable promises of how the company is going to focus on various projects and intends to develop cutting edge technologies. SOLX also came up with a press release minutes ago, pushing out more hype concerning the “initial testing” of one of its products. This comes in the wake of a Friday announcement that SOLX got a new CEO and chairman, Mr. Robert Bludorn.
What is potentially even more dangerous that the relatively small-time pump is the fact that there are entities posting on trading discussion boards, spreading false information and trying to make the public believe SOLX is Gehrlicher Solar America Corp., the U.S. branch of Gehrlicher Solar AG, a large German solar company, while the two have very little in common, apart from a partial overlapping of names.
SOLX displayed the following results in their latest financial report for Q3 of 2012:
- $32 thousand in cash
- $950 thousand in current liabilities
- $95 thousand in revenue for the period Jan-Sep 2012
- $376 thousand in net loss for the period Jan-Sep 2012
Revenue has actually shrunk year-over-year but net loss increased and is nearly four times more than the nine-month revenues. SOLX will have to first prove it can run a profitable business before it garners serious attention without the help of promotions. The stock was next to dead over the last months and SOLX will be left hoping their new CEO with NASDAQ company experience behind his back can help them liven things up.
The company’s registered principal executive offices address doesn’t do much to promote investor confidence either, as it seems SOLX runs its operations out of a two-story residential home.
