Salamon Group Inc. (PINK:SLMU) gains furiously. Since last week, the stock has been climbing up at full speed and it soared 
263.64% on Friday. Apart from the phenomenal price jump, traded volume of SLMU went over 1 million shares for the day.
Following the records, the most reasonable explanation on the massive trade appears to be the last news by Salamon. It was released on March 1, when the company announced that it has signed a Memorandum of Understanding with Eco Energy Solutions to purchase the company.
Obviously, the announcement inspired investors and SLMU stock price rushed to the top of the chart. Now it’s interesting how long the uptrend will continue.
Salamon Group Inc., through its Sunlogics Power Fund Management Inc. division, is a solar energy project company specializing in renewable energy power projects. Last month, the company issued $5 million secured convertible notes to Radiant Funds and Haverstock Master Fund Ltd. As a result of the transaction Salamon became the only secured creditor of ARISE Technologies Corp.[BANNER]
Meanwhile, the financials of SLMU remain disastrous. As of September 30, 2011 the company’s liabilities were five times higher than its total assets, and the stockholders’ deficit increased.
Due to the incurred losses and huge accumulated deficit since inception, the future operation of Salamon has been placed under a going concern. Meaning that the company needs to find additional capital to implement its business plan.
