Yesterday, SavWatt USA Inc (OTC:SAVW) issued a press release about the upcoming opening event for its Eco-Hub in Baltimore.
The announcement gave SAVW a gap up in the morning, but by the end of the session the bears had won and it closed flat at $0.002 on 86 million shares.
Before the announcement, there were several sessions in which SAVW traded actively with significant price fluctuations, despite the lack of any announcements, promotions, or filings, except for a D form filed on Jun. 23.[BANNER]
The notice of exempt offering of securities reveals the total offering amount is $1 million. It was not met with approval and seemed to trigger a temporary drop. However, SAVW recovered quickly even without an intervention.
Meanwhile, iHub posters are entertaining the idea of SAVW getting $60 million in revenue. It may be a little early for such calculations, since this is just projected revenue for now and there is no guarantee SAVW will get the contracts. Furthermore, it isn’t clear what the margins would be on these potential sales.
At any rate, if SAVW manages to generate $60 million in revenue, that would probably cause the price to surge significantly, and shareholders may see some profits. For now, however, there is still a long way to go.
