About an hour ago, Energy Edge Technolgies Corporation (PINK:EEDG) issued a press release about a contract. In addition, a paid promotion was sent out early in the morning.
The news and the promotion could affect trading today. Yesterday, EEDG closed up 6.9% at $0.0062. The volume was just 338 thousand shares, but that is close to the average for EEDG.
The press release announces that EEDG has been hired by Pepperidge Farm for a whole facility energy project to reduce the carbon footprint of one of Pepperidge Farm’s largest production plants. What that project means financially for EEDG isn’t clear.[BANNER]
The promotion is a cheap one. The promoter disclosed just $2.5 thousand as a compensation, paid by a third party, DGR Advisors, LLC.
The latest balance sheets of EEDG didn’t look too good, but they weren’t the worst you can find on the Pink tier. As of Sept. 30, 2011 EEDG reported:
- $5,594 in cash
- $709,235 total current assets
- $590,555 total liabilities
Unfortunately, the company also reported a significant drop in revenues and didn’t manage to turn a profit. EEDG depends on projects which can lead to huge swings in revenues.
EEDG may need to provide a much more convincing performance on the business side if it wants more appreciation by traders and investors.
