14.29% of its price, while its traded volume rose over 833 thousand shares.The curious thing here is that FEWP kept moving down even after being promoted yesterday. According to stockpromoters.com no compensation was paid for the promotion, though it looks like an effort for supporting the stock.
Apart from the promotion, the last news released by Far East came up on Dec 7, when the company announced it was to present at the 3rd Annual LD MICRO Growth Conference on Dec 9 this year. However, after that no further news on the issue was published.
It seems that traders are not satisfied with the lack of information about the company’s current activities and a new downtrend is about to be registered.[BANNER]
Far East Wind Power Corp. aims to generate clean and profitable energy through a portfolio of high-caliber utility-class wind power development projects. In the beginning of this month, the stock got the up move on promotions and good news, though the price fell down shortly.
As already mentioned on hotstocked.com, the latest 10-Q report of the company pointed that the financials of Far East have deteriorated even more. The company’s liabilities have significantly increased, as well as the stockholders’ deficiency and the net loss. Still being in the development stage, Far East has not generated any revenues, while its expenses have increased. As of end-September, the company had negative working capital and incurred substantial losses due to operations related mainly to its wind projects.
Currently, FEWP is falling down again and desperately needs additional financing for its operations.
