Yet Another Pump for Solar Thin Films, Inc. (OTCMKTS:SLTZ)

After the previous pump attempted in early August had almost no effect on the stock price of Solar Thin Films, Inc. (OTCMKTS:SLTZ) it seems that they will try to do it one more time. Since yesterday we have received more than 20 alert emails touting the company. As a result in early trading today the ticker broke through the $1 mark and is 40% up trading at $1.15.

This time the effort to promote the producer of fiber reinforced plastics and solar energy is a lot more serious. Most of the affiliates of Advanced Marketing Services have joined in with touts sent by Mega Stock Alerts, Exclusive Stock Picks, Awesome Stock Pick. Up to date they have received as much as $97 500 as compensation for their efforts. A significantly lesser sum – only $10 000, has been reserved for Micro Cap Profiler and Small Cap Investment who are associated with David Cohen’s Research Driven Investor.

How long will the artificially created hype will last cannot be determined with certainty but we reckon it won’t be long looking at SLTZ‘s fundamentals. They finished the quarter ending June 30 with the following results:

• $68 thousand cash
• $69 thousand total current assets
• $6.9 million total liabilities
• ZERO revenue
• $263 thousand net loss

The situation is even more grimmer than the numbers suggest. The company has defaulted on debt amounting to $2 million while accumulated deficit has reached the staggering $33 million. Even more worrisome for future investors should be the issuance of common stock and the inevitable dilution. Just 6 months ago a 1-for-500 reverse split was done which brought the total amount of outstanding shares to just 186 thousand. That number has now turned into 47 million outstanding shares.

The latest press release from them came on September 13 and announced that the company has signed a contract for the design, supply and construction of three photo-voltaic solar fields in West Virginia. More importantly they said that the anticipated value of the contract will be between $124-$160 million. How probable that is is up to you to decide.

Today marked the start of another pump this time for Indo Global Exchange(s) Pte Ltd (OTCMKTS:IGEX). The expected budget for the pump was disclosed to be $3 million which put them right beside the pump for Alkaline Water Co., Inc. (OTCBB:WTER). Who, by the way, crashed by 40% last Friday, 30% in early trading today and are currently sitting at $0.484 per share.