It all adds up for Cyclone Power Technologies Inc. (PINK:CYPW): four positive sessions in a row, backed up by three corporate updates.
Yesterday’s trading session proved quite successful for CYPW. Its stock gained further 27% to close at $0.37, marking its second best performance for the last 52 weeks, apart from the $0.45 registered on Mar. 14. The turnover also spiked as more than 1.75 million shares changed hands, i.e ten times higher than the daily average trading volume.
The 27% surge comes hard on the heels of three consecutive gains for CYPW. Being the largest one, it was preceded by a very special press release. As it seems, CYPW has already received a purchase order for its multiple engines to the total amount of $400 thousand. While no additional details were disclosed, the transaction might turn out to be a vital source of revenue at this stage.
Cyclone Power Technologies, Inc specializes in the development of eco-friendly external combustion engines. So far, the Florida-based company has protected its Cyclone Engine by a patent.
CYPW is a current information provider using an alternative reporting standard. No reports have been filed with the SEC yet, despite the company’s firm commitment to do so during the 2010 annual shareholders meeting.
The company recently published its audited 2010 annual report. As of Dec. 31, 2010 the balance shows:
- $240K in current assets;
- $2.5 million in current liabilities;
- revenue in excess of $260 thousand, which is a 300% improvement over the revenue generated in 2009;
- net loss of $2.17 million as compared to $2.52 million incurred throughout 2009.
According to the management, CYPW will have to raise between $1 and $5 million in order to continue as a going concern. Will investors pool their money in the company? Maybe, considering that CYPW has already acquired nine international patents.
