Having one of the most terrific months on the OTC, the penny stock of Solar Wind Energy Tower, Inc. (SWET) is still capturing the hearts and minds of traders after being picked by an Arizona city to develop a $1.5 billion solar project. Deemed to be the tallest building in North America if and when it is constructed to use ambient desert heat to create a draft to generate electricity, SWET stock is peaking today after beginning the month at just 0.004. You would have had to have been a marijuana stock to have risen from that low to as high as 0.033 in less than one month, but since the news hit Bloomberg yesterday, even Asher Enterprises has been good about not overdumping their shares to kill what could be the biggest news of the year.
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SWET Stock Quote
Market Cap: 11.06M
Last: 0.0248 ▲ +0.0118 (+90.77%)
Dollar Volume: $952,476
14-Day RSI: 89.60%
1st Resistance Point: 0.0325
1st Support Level: 0.0175
52Wk High: 0.033
52Wk Low: 0.003
Since they became Solar Wind Energy Tower in 2010, the core objective and focus has been to become a leading provider of clean efficient green energy to the world communities at a reasonable cost without the destructive residuals of fossil fuel, while continuing to generate innovative technological solutions for today and tomorrow’s electrical power needs. How you do that with $66,342 worth of assets, $61,758 of which was cash as of December 31, 2013, and nearly all of your authorized shares already issued is pretty simple – fake it ’til you make it.
According to the report, the project, which doesn’t yet have financing or a customer for its electricity output, would use technology created by Solar Wind Energy Tower in an area near Yuma, AZ which local utilities and the U.S. Defense Department have already inquired about buying power from. JMJ Financial should be loving the hyped up announcement since they held $90,395 worth of convertible debt as of December 31, 2013.
Of all the beneficiaries to have made a fortune on the run SWET stock has been on this month, Asher Enterprises has not yet brought in the rain clouds to damper the prosperity that a 2,250-feet (686-meter) project, which resembles a nuclear plant’s cooling tower, and is supposed to be capable of generating at a average rate of about 435 megawatt-hours over the course of a year is bringing. In all fairness, Asher Enterprises has been on the books of the 3 year old company for almost as long and likely already dumped out of most their shares a year ago when prices ranged between .02 and .03.
There were still convertible notes payable, net of unamortized debt discount, valued at $353,129 as of December 31, 2013 of which Asher Enterprises, Inc. held $135,000 worth. In layman’s terms, the $1.5 billion project that would use ambient desert heat to create a draft to generate electricity has created a vortex whereby SWET stock is due to see the ambient dumping power that only Asher Enterprises can unload on a penny stock.
Nevertheless, SWET should end the day with over $1,000,000 in volume, in the top 10 traded and possibly even the biggest percentage gainer.
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About SWET Stock
Solar Wind Energy Tower, Inc. is a development stage company that has, designed, engineered, developed and is preparing to construct large “Solar Wind Downdraft Towers” that use benevolent, non-toxic natural elements to generate electricity economically by integrating and synthesizing numerous proven as well as emerging technologies.
Click here to view the SEC filings for SWET.
Click here to view the website for Solar Wind Energy Tower.
Issued and Outstanding: 458,910,896
Directors and executive officers as a group: 135,946,666
Last 5 Trading Sessions:
What SWETs today normally stinks tomorrow which means penny stock looking for a collapse so they can play the bounce are sure to be lined up tomorrow at the opening bell. Since there is a tremendous amount of resistance once SWET stock tries to break into the 3’s, the price at which to sell it is a lot easier than trying to figure out where to buy it at when goes red on Wednesday.
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