The cliche “solar energy” lost its fizzle almost as quickly as “biodiversity” did, yet they are still around and still offers some money making opportunities for investors from time to time. Yet, when you stumble across the penny stock of Novagen Solar Inc. (OTC: NOVZ), one has to scratch ones head and wonder what the heck they plan to do. They want to make some low carbon emission engines from Australia, one for a motorcyle. Since it’s gonna take some money to do that, $3.275 million according to the Company’s estimates, NOVZ stock is officially on the speculative watch list for some form of promotional activity.
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NOVZ Stock Chart
Market Cap: 12.02M
Last: 0.25 ▲ 0.045 (21.95%)
Issued and Outstanding: 48,075,001
14-Day Rel Strength: 37.69%
14-Day Stochastic: 18.18%
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After deciding to pursue business opportunities relating to photovoltaic solar energy in 2009, the Company now has plans to commercialize two low carbon emission engine designs for the global market. Novagen Solar has yet to issue an official PR release to the public except for a snippet on their website.
What can be pieced together are the 8-K filings since June when the Company completed the acquisition of Renegade Streetwear Pty Ltd. for an aggregate of 400,000 shares of NOVZ stock. Renegade is in the business of design, manufacture and distribution of V-Twin engines, custom motorcycles and related urban clothing under the Renegade brand.
The plan of having Renegade as a wholly owned subsidiary of the Company is to be able to jump into developing products and services that provide clean technology solutions for today’s global challenges. Does that mean that NOVZ stock is undervalued or overpriced at 0.25 having booked sales of just $3,355 in Q3, 2012?
A formal announcement from the Company will ultimately mean that something has finally turned over, NOVZ stock is seeing some starter positions taken by some savvy speculators. The consecutive trading for the last three days is clearly indicative that some are trying to get in front of what has even been rumored to be the next TBX pick. While we have doubts about that, those looking to get a head start on a possible play in the coming weeks would be wise to research Novagen Solar in greater detail despite that not much at all is available.
About NOVZ Stock
Novagen Solar Inc., on September 27, 2012, acquired all the issued and outstanding shares of Y Engine Developments Pty Ltd, a development stage Australian company from their CEO and President, Michael Nugent. Y Engine Developments owns all rights in and to an opposing piston divaricate cylinder twin crank journal reciprocating piston engine and is intended to be developed utilizing advances in bio fuel technologies. Click here to view the SEC filings for NOVZ.
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Bottom Line: Get NOVZ on your list of penny stocks to watch and ask as few questions as possible since the only ones that matter are what the bid and ask are. It will take years for a commercial product to come from Novagen Solar whereas it will take only weeks for NOVZ stock, the thunder down under, to begin rumbling its way up the stock charts.
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