{"id":4514,"date":"2014-05-08T12:15:23","date_gmt":"2014-05-08T12:15:23","guid":{"rendered":"\/?p=4514"},"modified":"2014-05-08T12:22:30","modified_gmt":"2014-05-08T12:22:30","slug":"hpev-inc-otcmktswarm-continues-to-slide-down","status":"publish","type":"post","link":"\/articles\/hpev-inc-otcmktswarm-continues-to-slide-down\/","title":{"rendered":"HPEV Inc. (OTCMKTS:WARM) Continues to Slide Down"},"content":{"rendered":"<p> <img loading=\"lazy\" decoding=\"async\" style=\"float: right;\" src=\"http:\/\/www.hotstocked.com\/articles-img\/small\/WARM_chart.png\" border=\"0\" alt=\"WARM_chart.png\" title=\"WARM_chart.png\" width=\"450\" height=\"201\" \/>HPEV Inc. (OTCMKTS:<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=WARM\">WARM<\/a>) has been gradually descending for about a month now. It lost 12.75 %  of its price during yesterday&#8217;s session and closed at $1.3, an otherwise considerable price for an OTC penny stock. The stock had reached its peak on April 9, when it was traded for $ 2.12, but since then <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=WARM\">WARM<\/a> has been moving down. <\/p>\n<p>At the beginning of the year the stock seemed to flourish and was heading up. This of course was assisted by a steady flow of press releases, informing of various favorable events, and investors were tempted to put money in the company. The publishing of their 10-K appears to be the turning point for <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=WARM\">WARM<\/a>, and no wonder with figures like the following:<\/p>\n<ul>\n<li>total current assets &#8211; $477 thousand<\/li>\n<li>total current liabilities &#8211; $536 thousand<\/li>\n<li>no revenues since inception<\/li>\n<li>annual net loss &#8211; $3 million<\/li>\n<\/ul>\n<p>Market cap of over $70 million for a company that has never generated any revenues looks like a bit of a stretch.<\/p>\n<p>Another red flag, besides the obvious lack of income, is the pending litigation with Spirit Bear Limited. On December 14, 2012 the company and Spirit Bear had signed a securities purchase agreement for $500 thousand, giving Spirit Bear 200 Series A Preferred shares and warrants to purchase 2 million shares of the common stock. Each Preferred A share can be converted into 50 thousand common shares, which makes exactly $ 0.05 a piece. Furthermore, so far only 11 such shares have been converted and this means that at any time the OS can increase with  9.45 million. These are clear hints of highly probable dilution.<\/p>\n<p>The situation isn&#8217;t rosy at all. Still, <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=WARM\">WARM<\/a> had managed to secure financing. Lincoln Park Capital Fund, LLC (LPC) has entered into a securities purchase agreement that may provide the company with $10 million in equity financing. As usual LPC will be buying the shares at a discount.<\/p>\n<p><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=WARM\">WARM<\/a> has been rather scarce on details what does it need the money for. According to the official website, the company offers 3 solutions &#8211; thermal dispersion, mobile electric power, and hybrid conversion, that it will probably develop. All of these are supposed to have a wide range of applications. But then again, if that technology is applicable to so many things, why hasn&#8217;t <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=WARM\">WARM<\/a> profited from it?<\/p>\n<p>Elite Pharmaceuticals Inc. (OTCBB:<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=ELTP\">ELTP<\/a>), another company with a recent financing agreement with Lincoln Park, also dropped in yesterday&#8217;s session. It lost 7 % of its price and at end of the day was traded for $0.40.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>HPEV Inc. (OTCMKTS:WARM) has been gradually descending for about a month now. It lost 12.75 % of its price during yesterday&#8217;s session and closed at $1.3, an otherwise considerable price for an OTC penny&#46;&#46;&#46;<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[797,1379],"class_list":["post-4514","post","type-post","status-publish","format-standard","hentry","category-news","tag-eltp","tag-warm"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/4514","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/comments?post=4514"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/4514\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=4514"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=4514"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=4514"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}