Here comes the sun – together with the dilution. Desperately in need of cash to support both its ongoing activities and plans to build a tower or two, the penny stock of Solar Wind Energy Tower, Inc. (SWET) is in play and shinning. Having withdrew their recent S-1 for 37 millions shares just 2 weeks ago, SWET stock is moving and seeing a slight breeze of activity after gapping large enough to park a Hybrid between yesterday’s close and today’s open. With 37 million shares recently withdrawn for trading which Deer Valley was to convert for money loaned to the Company back in November, is the sun about to shine on this solar power dreamer or is it just riding off into the wind with the cash?
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SWET Stock Quote at 11:14:04 AM
Market Cap: 7.90M
Last: 0.029 ▲+0.0145 (100.00%)
Dollar Volume: $66,431
Issued and Outstanding: 272,691,189
14-Day Rel Strength: 70.33%
14-Day Stochastic: 24.00%
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Unless you live under a rock, you already know that, for over a decade, The U.S. has been a leader of the world in aggressively pursuing energy independence with clean, sustainable energy solutions. The “concept” Solar Wind Energy Towers has in mind for their projects is pretty “off the chain” to be honest. It involves:
• The avoidance from the adverse effects associated with fossil and nuclear fuels;
• The capability of Operating 24/7 and can outperform solar collectors that produce only when the sun shines in the daytime and wind turbines that produce only when the wind blows;
• The capability of being operated with virtually no carbon footprint, fuel consumption or waste production;
• The potential to generate clean, cost effective and efficient electrical power without the damaging effects caused by using fossil or nuclear fuels, and other know alternative power sources; and
• It uses benevolent non-toxic natural elements to generate electricity.
How much greener could you get when it comes to massive power generation?
The problem traders have is that there are just way too many old CWET shares out there. Now trading as SWET stock for nearly a month, today looks like it might be the beginning of something big. While the OS structure has gained roughly 100,000,000 since the start of 2012, today’s surge looks more like a blip than a bounce.
Solar Wind Energy Tower has yet to generate any revenues and had just $4,500 in total assets as of September 30, 2012 (all of which was cash). Total operating expenses for the nine months ended were $1.72 million making the need for cash in order to sustain seeing the sunrise each month means SWET stock is likely to see better activity than in 2012 since Asher Enterprises was “paid in full” for their numerous convertibles.
About SWET Stock
Solar Wind Energy Tower, Inc. is focused on plans to design, develop, and construct large solar wind downdraft towers that use benevolent, non-toxic natural elements to generate electricity and clean water economically by integrating and synthesizing numerous proven as well as emerging technologies.
Last 5 Trading Sessions:
Bottom Line: SWET has run before and been a half decent penny stock to trade at times. Today’s jump in share price on SWET stock allows for little to no foundation building though which could easily lead to the “tower” collapsing back down below the .02 level by week’s end. Still, keep you’re eye on the sun here but don’t get to close to the peak that your wings burn off and you fall back to earth.
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