The share price of SEFE Inc. (OTCBB: SEFE) stock has fallen in recent weeks just like the introduction on their website states: “out of thin air”. Since the $2.96 high on April 25th, SEFE stock price has plunged more than -75% although alerts to buy the penny stock continue to come out with updates on price targets and patent filings. SEFE stock price dropped -0.17 (-18.99%) to close at $0.725 on volume of 2,659,634 ($2,129,442) in the last trading session.
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If you thought that SEFE stock is now one of the cheap OTC stocks and worth a gamble, consider this: the Company has a direct connection, through their Auditor/Accountant, Weaver Martin & Samyn, with a list of penny stocks which have performed poorly:
• American Environmental Energy, Inc. (AEEI)
• American Petro-Hunter, Inc. (AAPH)
• Americas Energy Company (AENYQ)
• Bioflamex Corp (BFLX)
• Butler National Corp.(BUKS)
• Decision Diagnostics Corp. (DECN)
• Enerjex Resources, Inc. (ENRJ)
• Engraving Masters, Inc. (EGRV)
• FluoroPharma Medical, Inc. (FPMI)
• Green PolkaDot Box Inc. (GPDB)
• HS3 Technologies, Inc. (HSTH)
• Imperial Petroleum, Inc. (IPMN)
• Integrated Environmental Technologies, Ltd. (IEVM)
• My Freightworld Technologies, Inc. (MYFT)
• NB Manufacturing, Inc. (NBMF)
• Nyxio Technologies Corp. (NYXO)
• Rubicon Financial Incorporated (RBCF)
• Saga Energy, Inc. (SAGA)
• Single Touch Systems, Inc. (SITO)
• Smartag International, Inc. (SMRN)
• Spindle, Inc. (SPDL)
• The Pulse Beverage Corp. (PLSB)
• UV Flu Technologies, Inc. (UVFT)
• White Dental Supply, Inc. (WITD)
Considering that two of the above, AAPH and BFLX, have flamed out, and that the email alerts ceased as of the 9th, chances are SEFE stock will not see the $1 range again. We heeded warning about SEFE being an unstable stock from the beginning abd advised that it be treated just like SNPK.
Bottom Line: The penny stock of SEFE is, like we said when we initially began coverage on them, a POS P&D and should have been treated as such. If you were unlucky to have put in an order to buy SEFE stock since April 25th, ISTBY.