Monday trading of OTC stocks has started much in the fashion we had been anticipated with many of you who grabbed LDSI before the open banking right now. However, a big surprise to many is Sky Power Solutions Corp. (SPOW) whose shares are already up 88.89% to 0.085 with $96,672 in dollar volume (1,410,846 share volume).
The spin-off from Li-ion Motors (LIMO) and producer of Cathode Material for use in Lithium ion batteries is but another company gaining huge attention from investors with the growth Apple Inc. (Nasdaq: AAPL) products. Or could it be that 75 million shares of SPOW were recently issued in debt convesions with a cost basis of $0.01813?
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Top OTC Stocks Traded Monday 9:45AM
| Symbol | Price | % Chg | $ Volume | Share Vol | Trades |
|---|---|---|---|---|---|
| LDSI | 0.07 | +18.64% | 292,742 | 4,231,391 | 268 |
| CTDT | 0.34 | 0.00% | 172,886 | 500,171 | 117 |
| PCXCQ | 0.272 | +0.70% | 169,348 | 628,083 | 95 |
| SPOW | 0.085 | +88.89% | 96,672 | 1,410,846 | 64 |
| VLNC | 0.05 | +19.05% | 63,167 | 1,419,950 | 54 |
| CDXC | 0.82 | +10.81% | 141,719 | 180,320 | 41 |
| OREO | 0.21 | +25.00% | 42,730 | 208,235 | 39 |
| FNMA | 0.2445 | 0.00% | 9,789 | 40,432 | 38 |
| GWBU | 0.168 | +5.00% | 12,422 | 75,744 | 35 |
| GNUS | 0.24 | +17.07% | 36,328 | 149,404 | 33 |
Just 10 minutes after the market open today, Sky Power Solutions announced that the company is now seeking to accelerate the completion of the commercial distribution agreement after recent pre-commercial testing of its solar concentrator. According SPOW, a recent test on its proprietary solar concentrator demonstrated a major increase in efficiency that will generate electricity even with a 70% cloud coverage.
About SPOW Stock
Sky Power Solutions Corp., following the merger with their wholly-owned subsidiary on April 5, 2011, continues to concentrate its efforts on further development of the lithium batteries technology licensed from Li-ion Motors Corp., the Company’s former parent.
According to OTCMarkets.com:
Market Cap: $1,120,829 a/o Jul 13, 2012
Shares Outstanding: 24,907,316
Float: 7,439,278
Authorized Shares: 110,000,000
However, 75 million shares were issued to 7 debt holders who received the shares via converted of their debt. (see here)
To view the SEC filings for SPOW, click here.
Bottom Line: This is one heck of a penny stock dump that traders are buying into today. With possibly more and more penny stock investors learning about this company and seeing today’s gains, there is a good chance SPOW has a decent run for the next few trading sessions
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