Neah Power Systems Inc (OTCBB:NPWZ) Receives Some Attention

[[tagnumber 0]][[tagnumber 1]]The stock of Neah Power Systems Inc (OTCBB:NPWZ) hasn’t been doing very well for quite some time now. The ticker reached a high of around 6 cents per share in the beginning of last year, but has since lost around 90% of its value.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]We are not particularly surprised by this as [[tagnumber 6]]NPWZ[[tagnumber 7]] hasn’t been doing very well. Their latest financial report shows just that. Here are some of the numbers contained in the balance sheet of said filing covering the quarterly period ended March 31.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 11]] [[tagnumber 12]]cash: $272 thousand[[tagnumber 13]] [[tagnumber 12]]current assets: $376 thousand[[tagnumber 13]] [[tagnumber 12]]current liabilities: $2.05 million[[tagnumber 13]] [[tagnumber 12]]quarterly revenues: $6,008[[tagnumber 13]] [[tagnumber 12]]quarterly net loss: $1.11 million[[tagnumber 13]] [[tagnumber 22]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Definitely not looking good, even by OTC standards. Comparing the numbers to previous reports of the company we see that the cash reserves and current assets have become smaller while the liabilities have increased. Most concerning, however, is the fact that the revenues have significantly decreased quarter over quarter while the net loss has become bigger.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Still, we saw some positive movements in the most recent sessions. The company issued a letter to shareholders on Wednesday and it brought an impressive 24.14% gain for [[tagnumber 6]]NPWZ[[tagnumber 7]]. The next day the company stock was touted by SeeThruEquity who gave it a price target of $0.05.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]This attracted a lot of investor attention, but the heavy buying just slowed the ticker’s ascent. After reaching a daily high of $0.0089 [[tagnumber 6]]NPWZ [[tagnumber 7]]slid back and closed the session at $0.0078 for a 8.33% gain. We saw a total of 15.51 million shares change their owners and generate $123 thousand in daily dollar volume.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]This, however, seems to be as far as [[tagnumber 6]]NPWZ [[tagnumber 7]]is going to go, as we see the ticker sliding in today’s session. In any case, you should be sure to do your due diligence before putting any money on the line.[[tagnumber 2]]