{"id":3569,"date":"2014-01-10T11:13:36","date_gmt":"2014-01-10T11:13:36","guid":{"rendered":"\/?p=3569"},"modified":"2014-01-10T11:18:41","modified_gmt":"2014-01-10T11:18:41","slug":"altn-fuels-america-otcmktsafai-jumps-on-the-marijuana-bandwagon","status":"publish","type":"post","link":"\/articles\/altn-fuels-america-otcmktsafai-jumps-on-the-marijuana-bandwagon\/","title":{"rendered":"Altn Fuels America (OTCMKTS:AFAI) Jumps on the Marijuana Bandwagon"},"content":{"rendered":"

\"AFAI.png\"On October 17, Altn Fuels America (OTCMKTS:AFAI<\/a>) announced that they have initiated a project called Jethorpa which should promote the use of biofuels in the aviation industry. Nobody could care less. <\/p>\n

Three weeks later, they informed investors that they have signed a number of offtake agreements which could result in more than $14 million in “potential<\/em>” revenues. Despite the huge figure, AFAI<\/a> managed to shift just two thousand shares throughout the day. Another, equally optimistic press release got published at the beginning of December, but it too failed to capture investors’ imagination.<\/p>\n

Yesterday, in an almost comical turn of events, AFAI<\/a> announced that they’re entering the booming medical and growing recreational marijuana market and this time, traders’ reaction was quite a bit different. <\/p>\n

A record-breaking 7.68 million shares changed hands while the ticker surged towards the higher end of the charts. When the closing bell rang, AFAI<\/a> was sitting at $0.27 per share which represents 237% in daily gains.<\/p>\n

Indeed, the sudden and violent change in the course is somewhat bizarre and it’s suspiciously well-timed with the current hype around the so-called “pot stocks” but the fact that AFAI<\/a> registered more than $2 million in dollar volume means that a lot of people are putting their hard earned cash in the hope that the company is going to make it. So, is this going to happen?<\/p>\n

Unfortunately, things are not off to the best of starts. For one, AFAI<\/a>‘s latest 10-Q reveals that they are in a world of financial trouble. We reckon that the figures speak for themselves:<\/p>\n