Shredding their nievity towards seeing two men with perfectly groomed 5 o’clock shadows holding hands, Greenway Technology (GWYT) speculators think it’s about to blow. The Company recently switched sides from alternative energy to alternative lifestyle by pumping their Andalusian Resort which hopes to enter the $65 billion Gay and Lesbian tourism market. Being that it could be the first time we’ve see a penny stock try to enter through the exit door for hype, some open-minded traders seem to think GWYT stock is well worth watching since its all Pink on the inside anyway.
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GWYT Stock Chart
Market Cap: 1.44M
Close: 0.072, up 0.012 (20.00%)
Dollar Volume: $5,634
Average Trade Size: 8,860
Issued and Outstanding: 177,265,802
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Gone are the days of watching Police Academy 1 through 99 and homophobicly laughing when they wind up in the “Blue Oyster” bar. Banking on the changes in the past 20 years, Andalusian Resort chain has expectations of becoming a place for Gay couples to come to relax and have fun in an environment that promotes Peace and Harmony. Their website distinctly states that the focus is for gay men while the Company claims to be in final negotiations with hotels in Palm Springs, California and Las Vegas, Nevada. With Orlando on the map as well, a PR will be due out soon announcing their entry into the Orlando, Florida market.
Noting that the Company is the successor by merger with Greenway Energy, some of the terminology of the recent financial report may have been overlooked when changing the details from a recycling center to a hotel resort. As stated in the updated financials filed on the OTC Markets by Bernard A. Fried, Chief Executive Officer of Greenway Technology: (see here)
Item 4.Management’s Discussion and Analysis or Plan of Operation.
Our plan of operations for the resort business will require significant amounts of cash for the purchase, renovation and operation of the resorts. Since the acquisition of the Andalusian Resorts, LLC took place after the end of the quarter, Management will provide the operating plan in the quarterly report for the December 31, 2012 quarter.
Up to there, it’s all kosher. Then it get’s a bit WTF:
Our Plan of Operation for the recycling business is as follows:
We will need approximately $25 million through completion of the first plant, as follows:
Engineering, construction suspension 1,000,000
Construction of Refinery 20,000,000
Pre-operating costs 500,000
Initial operating costs 350,000
Legal and accounting 100,000
Working capital 2,050,000
Reserve for cost over-runs and Other contingencies 1,000,000
We have raised approximately $307,216 by the sale of Debentures through June 30, 2009. We have no commitments for the remainder of the required funds, but are in negotiations with several individual and institutional investors. If we do not raise the required amounts, we will not be able to complete the first plant.
As of September 30, 2012, we had $1,250 of cash on hand and a note payable of $210,000 plus accrued interest of $224,563. We also had outstanding $307,216 of 12% Debentures due December 18, 2018 plus accrued interest of $142,462. The Debentures have the benefit of a pledge of 25% of the net profit of the Company to pay the principal and interest thereon.
Construction of Refinery: $20,000,000? First Plant? Is a Refinery the place where Adam and Steve can be treated like Adam and Eve? Obviously, it was a portion of the financial report which was overlooked or deemed unimportant.
However things may look behind the curtain, Bernard Fried, President and CEO of Greenway Technology said: “For our guests, Andalusian Resorts is dedicated to supporting the rights of the Gay community and providing the Gay traveler with the highest degree of comfort and service in all of our resorts. For our shareholders, our dedication and support of the Gay traveler is not without reason.” We just wonder if they will have Pink Sheets to match their penny stock when and if they ever do actually get a resort erected.
About GWYT Stock
Greenway Technology, via their recent acquisition of Andalusian Resorts, LLC, has plans to be a premier luxury boutique hotel and resort chain that caters specifically to gay men, where exceptional care, attention to detail, and comfort of our guests is the ultimate mission while striving to maintain a 4 or 5 star rating.
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Bottom Line: Alternative lifestyle travel and tourism is, without a doubt, one of the biggest growing industries with enormous disposable income. Can it help to push GWYT into penny stock percentage gains history? About as likely as Andalusian Resorts ever actually getting a luxury hotel erect, let alone spreading the red carpet out when they announce the location of their first Gentlemen’s club in the cuming days/weeks. Word is, it’s Pickles!
Since PR was late on Friday, GWYT stock could be worth a schwing and a sure one to watch starting Monday morning, just beware of the pumpers spreading santorum in this currently illiquid position.
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