SLRW gained 169.23% and closed the market at $0.0035 for a share. The company issued its latest press release about two weeks ago. It provided an update on several issues and although the update should have been appreciated by traders because Solarbrook is not disclosing any current information about its business, the update not only did not make the share price surge, but it even made it drop down.
The lack of current information makes the updates on the company’s strategic partnerships and developed product highly questionable, but the important information from that last press release was the CEO’s promise to publish the financial results for 2009 and for the first quarter of this year on the OTC markets homepage shortly.
Unfortunately, that promise has not been kept by now, but an interesting fact about SLRW trading activity was observed yesterday. According to the latest report of Solarbrook, the company has 504.7 million shares outstanding, from which 79,24 million are freely tradable. The entire trading volume from yesterday was 106.29, exceeding substantially the announced public float and implying that more shares have become available for trading on the open market.
It seems that the company is highly speculative with its lack of current information and shorters also noticed that SLRW. On Tuesday, the portion of the shorted shares was 20% of the total trading volume, yesterday that percentage increased to 28%.
