As previously announced, Premier Power Renewable Energy, Inc. (OTC:PPRW) waited till the end of yesterday’s trading session to announce its financial results for the third quarter of 2011. What was unexpected, however, was the paid advertising campaign that followed the official press release.
Since the company had previously informed its stockholders that it would not disclose any financial numbers prior to the end of the Nov. 14 session, PPRW’s flat market performance on that same day hardly came as a surprise to the investment community. While PPRW opened at $0.51, it quickly fell down to $0.30 and remained there till the end of the session. As a result, PPRW stock closed at the same level it had reached last Friday.
Last night’s press release lays heavy emphasis on the fact that PPRW has scored a 34% revenue increase for the first nine months of 2011 in comparison with the same period last year. Not surprisingly, the accompanying ten-thousand-dollar promotion was entirely based on this number and somehow forgot to mention that the company’s net quarterly result is a loss of approx. $0.5 million.
Nevertheless, PPRW has almost doubled its cash reserves over Q3 of 2010. Provided that the company manages to build its recently announced Bulgarian solar power plant on time, as well as expand its operations in Italy, it will continue to advance in a highly lucrative industry.
