{"id":972,"date":"2012-12-11T09:16:00","date_gmt":"2012-12-11T09:16:00","guid":{"rendered":"\/?p=972"},"modified":"2013-03-25T20:58:57","modified_gmt":"2013-03-25T20:58:57","slug":"sky-power-solutions-corp-otcspow-pump-crashes-before-it-unfolds","status":"publish","type":"post","link":"\/articles\/sky-power-solutions-corp-otcspow-pump-crashes-before-it-unfolds\/","title":{"rendered":"Sky Power Solutions Corp. (OTC:SPOW) Pump Crashes Before It Unfolds"},"content":{"rendered":"

\"7SPOW_chart.png\"Pumpers have been touting Sky Power Solutions Corp. (OTC:SPOW<\/a>) for several days now but it was only yesterday that the stock picked up speed and generated both volume and price movement. Sadly, the pump crashed before it even got a chance to accelerate. <\/p>\n

VIPPennyStockSite, the highest paid pumpers who bagged $35 thousand to promote SPOW<\/a>, emailed their subscribers again yesterday, touting more forward-looking press releases of the company. Meanwhile, SPOW<\/a> have been very busy bees right before Christmas season. An 8-K filed Nov. 1 listed the sale of newly issued securities amounting to 392 million shares. The company stated that the securities issued were not subject to registration and are therefore free to trade. SPOW<\/a> went through a similar pump scenario with similar accompanying circumstances this summer and we covered that as well. This time the company issued the millions of shares at $0.0012 per share, a price that is about a quarter of yesterday’s close, even after the dip.<\/p>\n

Even if the pump did not heat SPOW<\/a> enough over the previous days, yesterday another pump email was sent, telling traders the stock was on the up and up. Sadly, halfway through trading something clicked and after a 7 million volume spike the price went downhill. Minutes before the bell SPOW<\/a> managed another ugly drop to about 30% under the previous close and 50% under the day’s high, but averted complete disaster by closing only 15% down – still pretty horrible, considering pumpers were promising a run up.<\/p>\n

The company itself is a dreary venture that has not generated a dime in revenue over the last two years. Here are some sobering figures from SPOW<\/a>‘s latest report – their 10-K for the fiscal year ended July 2012:<\/p>\n