$0.0010 at the shocking volume of over 307 million shares traded.Records point that HYBE traded bellow the yearly average and unless the present downtrend is broken, the news may not be encouraging.[BANNER]
Based on these facts, it looks like HYBE is about to sink down any minute, and the investors are selling heavily.
Last week, HYBE tried to run away from the price crash by releasing a couple of positive announcements, though it couldn’t help much.
According to the historical data, the company has traded much higher over the past 6 months when the price went up by $0.090 per share. However, it’s been 90% down since that time.
Hybrid Energy Holdings acquires and operates energy companies, focused on fuel production and the latest in the energy conservation and power co-generation technologies. The last press release by the company came out today and it looks like a desperate attempt for the stock to survive. However, at this point there is nothing to confirm the great promises of HYBE for higher revenue and shareholder value.
The pink sheets company has not filed any financial results since 2009, which makes HYBE’s business quite questionable. According to its last report, the company has generated no profit from sales and it has suffered operating losses. At the same time, HYBE hasn’t registered any sufficient cash to cover its expenses.
Based on this report, and considering the fact that there is no recent information on the company’s financials, we can only confirm HYBE’s statements that its working capital: “is dependent upon funds from private investors and the support of certain stockholders” and: “These factors raise substantial doubt about the ability of the Company to continue as a going concern”.
