volume traded, but with hot alerts instead.Two weeks ago, ENZR was up with no explanation, though the stock fell down shorty. Now, it is expected to jump up again, but how’s this supposed to happen? The answer is obvious – promotions and good news. According to wallstreetgrand.com, Energizer has just announced a Non-Brokered $15 MM PPM and posted an update on its Vanadium Green Giant project. That is pointing that the stock has now more upside potential. Obviously, ENZR makes efforts to pump up its stock price and attract traders’ interest again. Still, the most interesting information here turns out to be the fact that the new promotion of ENZR is scheduled to continue the whole year.
Meanwhile, WallStreetGrand.com has received 108,000 shares of restricted stock from the company on 1/9/10, which WSG intends to sell in the future. Also, WSG has signed a one-year IR contract with Energizer for $250,000 and 5 Million restricted warrants exercisable for 6 months. It is claimed that WSG may be compensated even more in the future, but no more agreements have been made at this time.
Does it mean that ENZR will grab the up move again? It is just about to be seen. The only fact known so far is that the stock will be promoted until Jan 23, 2012.[BANNER]
Apart from the recent news on the private placement and the update on the Green Giant project, ENZR has not published other announcements on its activities this year. As already reported on hotstocked.com, at the Annual Meeting in December the stockholders of Energizer have approved the proposal for increasing the company’s authorized capital stock to 350 million. Additionally, they accepted the rest of the proposals at the meeting concerning ENZR’s Amended and Restated 2006 Stock Option Plan and the ratifying of the appointment of MSCM LLP as Energizer’s independent registered public accounting firm for the fiscal year ending June 30, 2011. Though, it appears that the lately announced Private Placement offering is yet subject to approval by the applicable regulatory authorities and Energizer hopes to complete it this month. So, the question is what will happen next?
The latest 10-Q report of the company is still quite pessimistic. Energizer has generated no revenues and its operating loss has increased, while the stockholders’ equity has decreased. Above all, as of end-September ENZR had nil total employees and nil full-time employees, occasionally engaging consultants to perform professional and administrative functions for the company. And while the so called “Management Team” of Energizer claims that the company certainly needs additional financing to continue operations, it also says that any equity financing may cause dilution to the shareholders.
