Whenever you come across a newly trading penny stock that has Nasdaq type revenues and share structure but trades less than $2,000 worth of stock a day, your curiosity has to get the better of you if, and only if you consider yourself an investor. That’s what happened when we dug into EQM Technologies & Energy, Inc. (OTC: EQTE) at the end of 2012 just after they acquired Vertterre Corp., a mechanical and electrical engineering services firm, for $1.5 million which included 1,000,000 shares valued at $0.40, double the current price. Upon recognizing that this wasn’t your typical OTC stock, its no wonder why EQTE stock barely trades — because none of the insiders are willing to sell.
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EQTE Stock Chart
Market Cap: 8.09M
Last: 0.20 ▲ 0.02 (11.11%)
Issued and Outstanding: 40,473,570
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Just read this: “We had overall revenues of $77,372,285 for the year ended December 31, 2011, as compared to revenues of $70,032,639 for the year ended December 31, 2010.” It’s 2013 and we’re talking about revenues from two years ago. How about: “We had overall revenues of $25,955,677 for the three months ended September 30, 2012, as compared to revenues of $23,461,155 for the three months ended September 30, 2011, for an overall increase of $2,494,522 or 11%.” Anything triggering your curiosity as to why EQTE stock is trading at just $0.20 when there are just over 40 million shares outstanding?
EQM Technologies & Energy is a beast of a Company — period. While the year ended December 31, 2012 may still not produce bottom line net income, the Company has longstanding relationships and multi-year contracts with numerous federal agencies, including the Environmental Protection Agency and the Department of Defense, as well as private sector clients. With the management team behind the Company, anyone can see why these guys are considered the experts for the experts when it comes to environmental engineering.
Their newly acquired Vertterre Corp. is considered an industry leader in Energy Reduction and Biomass-to-Energy Solutions with a number of large and complex projects already under their belt for clients like Los Alamos National Laboratories, Frito Lay, the U.S. Postal Service, Siemens Building Systems, the U.S. National Park Service, and the U.S. Army Corps of Engineers.
Although no financials are presently available on Vertterre, you can bet they will push EQM past the $100 million mark in revenues for 2013. The sale of their biodiesel production facility, which was announced just after the close on Wednesday, for approximately $5.3 million in cash is a bonus. They were running the facility exclusively under a tolling agreement whereas the Company was supplied with all working capital for feedstock purchases and received a price per gallon rather than producing and selling biodiesel produced at spot prices on the wholesale market like in 2011.
The key words are all there and the numbers back up story. Insiders own virtually all of the shares which is why volume is so low. Note that Daniel Sandoval, the former President and sole shareholder of Vertterre, was issued 1 million shares of EQTE stock as part of the purchase agreement and is staying on as a Vice President of EQM to continue to operate and grow Vertterre. The issued shares were valued at $0.40. Hmmm, that’s a 100% upside.
About EQTE Stock
EQM Technologies & Energy, Inc. is a U.S. based provider of engineering and environmental consulting services to government and commercial business, and producer of high quality biodiesel fuel. Click here to view the SEC filings for EQTE.
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Bottom Line: EQTE is more of a museum stock than it is a penny stock since acquiring shares are as likely as touching the Mona Lisa. The Company is leveraged well and financing its operations as would a Nasdaq or NYSE listed Company. EQTE stock is for the long, strong and lucky — lucky in the sense that you can actually get your hands on anything more a few hundred shares to tuck away.
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