Energtek Inc (PINK:EGTK) is falling down these days. The fall started on Tuesday and continued yesterday when EGTK lost 
another 10.00% of its price, while its traded volume flew up.
What is interesting about the price loss is the fact that the stock is falling down despite the recent promotions and positive news.
Last week, Energtek reported that the company and its subsidiaries have raised $2.7MM from a strategic partner. Surprisingly, the news couldn’t pump up EGTK stock price for long, though this week the efforts continue.
On Monday, the company announced that its subsidiary Energtek Herz d.o.o. Mostar has successfully completed the first trial tests with natural gas at Aluminij Plant in Bosnia. Nevertheless, the announcement once again failed to support the stock price and it started moving down instead.
Scared to make bigger losses, Energtek decided to act immediately. This time, by promotions.
The fist promotion was held on Jan 30, then yesterday EGTK got promoted again. The total compensation for the campaign was $3,000, though the result of the promotion is still to be seen.[BANNER]
Energtek, Inc. is a development stage company engaged in the development of Adsorbed Natural Gas technology that allows storing natural gas under lower pressures. Unfortunately, the company’s financial report is not promising at all.
Since the beginning of the development stage and up to September 30, 2011, EGTK has recorded an accumulated deficit of $28.7 million. The company will require additional funds in order to finance planned expansion activities and to service debt, which raises doubt about its ability to continue as a going concern.
Continuation of Energtek is dependent upon its ability to obtain sufficient capital. However, there can be no assurance that the company will be able to raise additional funds on acceptable terms, if at all.
