The month of October had better not end, at-least that’s what most penny stock traders are wishing for after having already ridden BlueFire Renewables, Inc. (BFRE) more than they could have ever bargained for. Falling just a fraction shy of hitting a dime this morning, 0.099, shares fo BFRE stock are continuing to surge on the last day of this real turnaround week for OTC tickers and the volume they showed a month ago. With the sleeping giant already inked up to plan for a massive sum of money to flow its way from The Export Import Bank of China so they can get their bio-energy project in Fulton, Mississippi up off the ground, the +2,757.14% gains since September 24 at today’s HOD makes for an argument for October to drag n an extra week or two.
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BFRE Stock Quote
The decade plus long strive for energy independence and reliability on fuels other than oil have finally begun to see there day in the sun now that working facilities are located around the world. BlueFire Renewables has been in the game of changing the world’s transportation fuel paradigm for almost a decade already and their latest news that their planned cellulosic ethanol facility in Fulton, MS could get the $200+ million it needs from one of China’s largest players, China International Water and Electric, subsidiary of China Three Gorges Corporation, has caused BFRE to skyrocket this month.
The cellulose-to-ethanol company with demonstrated production of ethanol from urban trash, rice and wheat straws, wood waste and other agricultural residues needed to score a deal like this, even though its still in its “Intent” stage. When BlueFire Renewables last reported their Q to the SEC for the period ended June 30, 2014, although there were revenues on record ($452,622), current liabilities ($1,801,080) far outweighed current assets ($352,022) which their operating income ($57,029 and $160,858 for the 3 and 6 months ended, respectively) was barely making a dent in.
News came out back on the 8th or October that BlueFire Renewables inked a new Master Engineering, Procurement and Construction which was followed up yesterday, stating that $270 million in debt financing is now on the table with The Export Import Bank of China. Why two Chinese firms would want to be involved with having their fingers in the honey pot of a bioenergy plant in Mississippi is still in the air with BFRE stock as it tries to break past a dime. Having silently climbed up from 0.0018 when the first announcement was made, the better than 2,500% gains so far have created a new found respect for these up and coming renewable energy companies.
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About BFRE Stock
BlueFire Renewables, Inc. is a development stage company preparing, under a technology license agreement with Arkenol, Inc., to deploy their commercially ready and patented process for the conversion of cellulosic waste materials to ethanol.
Issued and Outstanding: 181,242,551
Arnold Klann, CEO: 20,290,258
Last 5 Trading Sessions:
BFRE has been one of the hottest penny stocks this month and is showing no signs as of yet that it’s even close to being done. Testing the 0.10 ceiling is what all those in BFRE stock are looking to see as they decide whether or not to hold through the weekend. With such a mixed sentiment in the market right now, as long as it stays green, there aren’t going to be too many people complaining, especially when the teens get tested in the early part of next week.
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