ThermoEnergy Corporation (PINK:TMEN) has been moving up fast over the past days. Yesterday, the stock added the next 
4.17% to its price and its traded volume totaled over 124 thousand shares.
The reason for the uptrend is crystal clear – a piece of news by ThermoEnergy. On Dec 5, the company reported that it has received $2.63 million from the exercise of warrants by a group of accredited investors. The private placement immediately inspired investors and TMEN started to climb. Though, the company decided to secure the up move additionally.
Yesterday, TMEN got promoted for a compensation of $60,000 in total and attracted traders’ attention again. The result is just about to be seen.
To be precise, it is not the first time when TMEN grabs the climb on promotions. Last month, the same happened again, though the gain was shortly broken.[BANNER]
ThermoEnergy Corp. is an infrastructure technologies company engaged in the development and sale of advanced wastewater treatment and clean energy technologies. In December, there was an intensive movement of the company’s shares of common stock and an interim financing was reported. However, the terms of the agreement are still to be negotiated.
As the latest 10-Q report of TMEN is full of losses and accumulated deficit, there is no doubt the company will require additional capital to continue operations. Otherwise, ThermoEnergy will keep functioning under a going concern.
