Is 808 Renewable Energy Corp. (RNWR) Ready To Run?

RNWR Stock, 808 Renewable Energy Corp.On Friday, it was almost impossible to find a penny stock that wasn’t red on the OTC, with roughly 90 of the top 100 traded OTC tickers all pegged for losses. One particular ticker which bucked the trend, 808 Renewable Energy Corporation (RNWR), a company which currently owns and operates 22 combined heat and power (CHP) energy systems in 6 sites spread across the San Francisco Bay Area and Southern California, more than doubled, doing it all in the last hour of trading for the session. With a massive share buyback program in place, as well as a $10,000,000 Convertible Preferred Offering, was Friday’s move a blip or is there a real chance of RNWR stock seeing $5 a share again?

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RNWR Stock Quote

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Eco-friendly, cost-effective electrical and thermal energy is something Northern California embraces with open arms, especially in San Francisco where the hippie culture of the 60’s has meshed perfectly with the technology driven generation X and Y population in the area. The Company’s natural gas powered cogeneration systems produce electricity from an internal combustion engine driving a generator, while the heat from the engine and exhaust is recovered and typically used to produce heat and hot water for use at the site.

808 Renewable Energy appears to be thriving in the Bay, having reported in October that their CHP systems produced over 1.4 million-kilowatt hours in Q3 compared to less than 1 million kilowatt-hours in Q2. That announcement fell onto deaf ears unfortunately with only 1,100 shares of RNWR stock traded on that day, closing the session at just 0.29.

Perhaps the lack of interest came from the real numbers behind the energy producers who reported just $329,897 worth of revenues for the 9 months ended September 30, 2014 versus $880,583 for the same period the year prior. It looks like the wheels have all but fallen off when you look back at how they reported full year revenues of $1,060,423 in 2013 from the delivery and sale of electricity and related products, including professional services, which was a decline of about -40%, $706,135, compared to $1,766,558 for the same period in 2012.

Being an “energy” company, there’s no wonder why RNWR shares are down -90.40% since August 19 when they first began trading on the OTCQX. The company’s CEO, Patrick Carter, bought shares back then, granted they were only in blocks of 100, for $5, $4.75 and $2.50 (see here), which almost begs one to think that grabbing RNWR at around $0.50 is money in the bank.

Typically, when a company announces they will be buying shares of their own company in the open market, their ticker tends to see a surge of interest and share price appreciation. However, since October 10, when 808 Renewable Energy announced that the Board of Directors authorized a share buyback program to repurchase up to 20,000,000 shares of RNWR stock on the open market, volume has only broken past the 200,000 mark twice with 21,948 being the average.

808 Renewable Energy did report in their last 10Q that they received $2,000,000 from the preferred stock subscription they offered and managed to repay in full the related party payable, to the CEO, of $599,773 – the only really noticeable liability on the books as of September 30. Perhaps operating less energy systems, 22 as of September 30, 25 in 2013, 28 in 2012, is the reason why investors are skittish to grab RNWR stock. With Friday’s insanely productive power-hour, it might just be too late to see those cheapies ever again.

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About RNWR Stock

808 Renewable Energy Corporation is a development stage company that distributes, owns and operates clean, on-site energy systems that produce electricity, hot water, heat and cooling.

Click here to view the SEC filings for RNWR.
Click here to view the website for 808 Renewable Energy Corporation.

Authorized: 100,000,000
Issued and Outstanding: 70,261,668

Last 5 Trading Sessions:

Date Open High Low Last Change % Chg Volume
12/12/14 0.1500 0.4800 0.1400 0.4800 +0.3300 +220.00% 208,800
12/11/14 0.1500 0.1500 0.1499 0.1500 -0.0250 -14.29% 8,000
12/10/14 0.1500 0.1750 0.1499 0.1750 +0.0250 +16.67% 52,000
12/09/14 0.1500 0.2525 0.1500 0.1500 -0.1025 -40.59% 37,800
12/08/14 0.2525 0.2525 0.1500 0.2525 -0.0274 -9.79% 10,000

 

Bottom Line:

RNWR stock caught our attention due to the insane power hour it had on Friday and enters the week as one of the hotter low volume penny stocks to watch. Along with RNWR, Symbid Corp. (SBID), one of the first investment crowdfunding platforms worldwide that allows non-accredited investors to invest online in start-ups and SMEs with as little as €20, is another one to watch after Wednesday’s big volume session placed it firmly on the green express.

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