Power of the Dream Ventures, Inc. (OTC:PWRV) got an amazing boost by an update issued by the company.
PWRV closed up 127% at $0.25 per share. The volume was also significant, even though the 2.6 million shares weren’t a new high for PWRV.
The update covers some of the achievements and plans of PWRV and notes that only the common shares of iGlue PWRV holds are worth more than $23 million at the current price.[BANNER]
Additionally, Co-Founder and CEO Viktor Rozsnyay said that after a conversion of common stock to preferred, there are approximately 38.3 million common shares outstanding.
While the press release suggested Mr. Rozsnyay values a PWRV share at $1 or at least $0.60, traders saw it closer to a quarter. Indeed, PWRV isn’t generating revenue yet, and it reported total assets of $352 thousand.
It will be interesting to see whether PWRV will trade as actively as it did yesterday.
