lost 16.36% on the market, while its traded volume rose over 69 million shares.It seems like traders are disappointed and they are dumping their shares. Though, the most interesting fact here is that the loss happened on the same day when AFTC was promoted.
However, the promotion from yesterday reflected on the volume of the stock, but it couldn’t support the price and it started to fall down.
Alternative Fuel made another effort to push up their stock by releasing the news that the company commenced working on a U.S. Army Phase 2 SBIR project valued at $715 thousand.
Though, it looks like the positive news wasn’t enough to pump up the stock price and it remained at its low position.[BANNER]
Alternative Fuel Technologies, Inc. is a research & development organization engaged in the design, development and prototype manufacturing of advanced fuel systems for use with a new alternative fuel – dimethyl ether (DME).
In September this year, the company’s stock entered into an uptrend, though currently its price is down.
According to the initial information, by August, 1 AFTC had 563 million common shares and 1 million preferred shares issued and outstanding. Alternative Fuel still has assets available, though, it has incurred huge liabilities and expenses.
As a result of the AFTC’s losses, its management team states that “The Company has meager cash reserves and access to a limited line of credit that may not provide the Company with the necessary funds to address its liquidity requirements”.
