As of yesterday MetaPower International, Inc. (PINK:MTPR) stock has returned back to its lower trading range after the 52-week high hit last week on news and promotional newsletters. 
Yesterday MTPR closed the trading session at $0.0025 with a further 10.71% decline from the previous close. Trading volume reached 1.96 million shares and it looks like the stock is losing again the interest of traders. Next support level could be at $0.002, while last Wednesday MTPR hit a new yearly high at $0.009. As mentioned, news from the company and trading alerts from a stock promoter were in the background of the surge.
On Wednesday MTPR announced that its fourth application for a US patent to cover its UCoDA technology has been issued under US Patent No. 7,945,599, whereby the patent covers 19 additional separate claims for the technology. Further, the company said that this final patent completes the patent work in the US for the UCoDA Technology. On the following day, the news came out that a MTPR subsidiary has received additional purchase orders totaling over 1.7 million CAD from a Canadian Energy company’s facility in the Oil Sands Region of Northern Alberta, Canada.
In support of the breaking news came also two promotions e-mails, one on Wednesday and one on Thursday. The disclaimer of MovingPennies.com, the promoter that put MTPR on its watch list, contains no information about a received compensation, but a piece of advice that contradicts to the other statements in the e-mail: “Do not buy the stocks MovingPennies.com mentions”.
Which combined with MetaPower International latest quarter report, makes the stock quite a risky play. The company claims in its financial statement that its revenues were up 31% in Q1/2011 over Q1/2010, while EBITDA decreased by 53% due to higher indirect costs. The balance sheet shows working capital deficit of over $611,000 and long-term liabilities for over $1.8 million.
