The penny stock of Energy Edge Technologies Corp (EEDG) is having a massive rally today as the Armed Forces in Ghana are about to get clean water. The Company filed an 14A with the SEC earlier today to increase their authourized capital to 250 million shares just prior to announcing the launch of its multi-pronged “Africa Initiative” with the shipment of its first Atmospheric Water Generator (AWG) directly to the Armed Forces of Ghana. For those who tracked or traded EEDG stock in May saw the penny stock run from 0.003 to 0.19, 6,233%, in just 5 weeks.
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EEDG Stock Chart
Market Cap: 6.66M
Last: 0.069, up 0.0205 (42.27%)
Dollar Volume: $28,032
Average Trade Size: 9,683
Issued and Outstanding: 97,117,872
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We covered Energy Edge Technologies in June and they are the radar again today with a good chance of having a run towards their 0.19 May high. The second catalyst after the proxy to increase the authorized capital was the initial shipment was executed under EEDG‘s Partnership/Profit Sharing Agreement with Drinkable Air, a leader in pure water generation from humidity in the air we breathe.
And what’s better than drinkable water? How about strong white teeth.
On July 30, 2012, EEDG entered into a stock purchase agreement, worth $160,000, with Dutchess Private Equities Fund, Ltd. to acquire 20,880,280 unrestricted shares of Union Dental Holdings Inc. (UDHI). Included in the agreement was also a warrant to purchase up to 39.60 million shares of UDHI stock.
EEDG is putting in AWG as part of a comprehensive construction program presented by Trillacorpe Construction, a subsidiary of Energy Edge Technologies, and Albah Manufacturing Technologies Corporation to Ghana’s top ranking military officers and other key decision makers within their Government. The program calls for 50,000 to 100,000 new homes for the military spread out over 10 regions in Ghana, several new military bases and the retro-fitting of old bases, and the infrastructure and construction needed to accommodate these projects.
Hopefully all of the projects combined can help the Company expand their revenues which came in lower than the same 3 and 6 month period compared to 2011. At least the private placement purchasers of 5,666,667 shares of EEDG between May 17 and June 30 hope so since their cost basis is just 0.011.
About EEDG Stock
Energy Edge Technologies Corporation provides energy engineering and services specializing in the development and implementation of advanced, turnkey projects to reduce energy losses and increase the efficiency of new and existing buildings.
The Company is comprised of professional and industrial engineers, Leadership in Energy and Environmental Design Accredited Professionals, and Green Building Coalition Certifying Agents. The Company’s custom designed projects are developed using proprietary methods and maximize energy savings by treating an entire facility based on its unique features and electricity and gas usage.
Bottom Line: EEDG, although not very liquid, is a hot penny stock right now and should be a fun watch over the course of the month. Can EEDG stock head back towards the 0.19 level it hit in May? Let’s see 8 cents before looking for 10.
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