An all-time high for an all-time low – this is Solar Energy Initiatives Inc. (OTC:SNRY), an interesting company with peculiar story and even more peculiar opinions on the Internet. Gravitating in sub-penny levels, it is yet to see what comes next. 
More than 13 million shares exchanging hands yesterday, leading to a 22% decline in the stock price, the session closing at $0.0038 per share. Compared to the session before that, however, this seems as just another trading day. Friday was a special day. A day of a 100% jump in the stock price, a day of an all-time high in terms of trading volume. A day, when more than 13 million shares exchanged hands as a result of short selling. The total volume of the day was almost 37 million. Short selling, actually, is quite common for this stock. Sometimes, it reaches up to 2/3 of the total trading volume for the day.
On a related subject, there is a very interesting post in iHub – a story involving SNRY management at some points, a long and interesting story. Short selling is also a popular subject in it. It is hard to assess its credibility, but it certainly prompts for additional questions when considering this company as an investment opportunity. However, if looking for an objective source to look into, such would no doubt be the SEC filings. Luckily, the latest 10-Q statement just came out this Monday. It covers a period with an end-date April 30th this year and includes the following:
- $20k in cash; [BANNER]
- $71k in total current assets;
- $1.2 million in total current liabilities;
- $14 million in accumulated deficit;
- $520k in revenues;
- $1.7 million in net loss;
Just another peculiar aspect of Solar Energy Initiatives. Coupled with the short-selling data, and the steadily declining stock price, it is uncertainty that best describes the short- and long-term future of this company.
