After being oversold for a while, RPPR surged 123.33% up on Friday and closed at $0.0134. Traders must have noticed that the de-registered with the SEC in January this year RPPR stock is a perfect pump-and-dump candidate.
From the latest quarter report submitted to the OTC market one can recognize that the company still has no business activities. Though, RPPR has almost 93 million shares of common stock outstanding, from which the public float is about 34.5 million. Strangely, Friday’s volume of over 94 million shares traded obviously exceeds the public float, which raises the question about what kind of manipulation strategy is running on this time.
No one is still wiling to pay for a RPPR stock promotion, though some free advertising is being done in investor online forums. There, among other things, one can get “5 reasons to invest in RPPR“, including the company’s revolutionary technology and the management’s commitment to find funds and to start doing something on the development of the company.
That post was probably inspired by RPPR’s latest filing with the SEC from March this year, which was made under the old name of the company, Real Paper Displays Inc., and concerned an exempt offering of equity securities by the company for the amount of $500,000.
The name change to AquaStar Holdings, Inc. was announced in July this year in a press release, which also enlightened investors on the new direction that RPPR’s business has taken. The plans are now to develop some still to be defined technologies, among which a “breakthrough air conditioning technology product line”.
According to the last 10-Q filed with the SEC in 2008, RPPR had some vague plans already at that time, focused on microbiology and electronics. Unfortunately, the only consequence of that plans did not lead to any profits.
The company had signed a license agreement with the University of Texas for the commercialization of a “cellulose electronic paper” technology, developed by the university. Under that agreement, RPPR had to pay license fees, royalties and sponsored research funding to the university, which however obviously did not happen as the university has terminated that license agreement and the dispute is still running.
