day. After soaring approximately 353% on Tuesday, the stock started its way towards the bottom of the chart.According to the records, HLXW climbed up as soon as the company reported that it has received a purchase order for its S594 wind turbines by the Oklahoma Medical Research Foundation. On the same day, Helix Wind succeeded to sell over 107 million shares on the market, though the high trade didn’t last for long.
Apart from the positive news, over the last days HLXW has been heavily promoted by Stockprofiler.us, though, the promotional newsletters didn’t reflect on the stock price. Looks like the investors have started to lose their interested in HLXW and the price jump was broken fast.[BANNER]
Helix Wind, Corp. is engaged in the alternative energy business and offers a distributed power technology platform designed to produce electric energy from the wind. Except the announcement for its purchase order, the company has not released much news on its activities recently.
According to its official website, HLXW published another positive report on its S594 wind turbines in the middle of July this year, which also pushed up the stock immediately. However, the price started to move down shortly.
The latest financial results of Helix Wind don’t look promising at all. The company has spent all their cash and generated no revenue by the end of this June. While at the same time HLXW has incurred some expenses and an operating loss. Total liabilities of Helix are much lower than its assets, and the stockholders’ equity has increased.
Historically, the company has funded its operations through private offering of debt and equity securities, though, its working capital deficit totals over $2 million and it still expects significant capital expenditures during the next 12 months.
Helix states that it needs urgent additional financing as the company does not have any available credit, bank financing or other external sources of liquidity.
Based on these facts, no one can be certain about the future of the HLXW stock and it should be carefully observed.
