TurkPower Corporation (OTC:TRKP) has been climbing up progressively over the past days. The up move started on Monday 
and yesterday the stock price jumped by almost 15%. The price jump was accompanied by an increasing volume, meaning that investors’ interest in TRKP is rising up.
However, the strangest thing in this situation is that no particular reason for the gain can be found. TurkPower has not released any news on its business since the beginning of February and no one is up to date with its current activities. Though, the stock was on the move.
A while ago, investor message boards suggested that something might be going on around the company, however, there are no announcements by TRKP apart from being featured in a promotional research a week ago. The last official news by the company dates from Feb 2, when a project update was released. At that time, TurkPower was optimistic to close some new agreements no later than Q2 2011, though there is no further information on the issue so far.
In this case, what is going on with TRKP? At this point, the answer remains in mystery, while everyone is curious how long the up move will resist under these circumstances.[BANNER]
TurkPower Corporation is a Turkish-American consulting and service operations firm focused on the Turkish energy market. In the end of 2010, the company used to trade about 50% higher than at present, however, since then the stock price has notably moved down.
At the same time the quarterly report of TRKP is not encouraging at all. According to the 10-Q, as of end-November TRKP had more liabilities than total assets and its accumulated deficit exceeded $1 million, excluding the stockholders’ deficit and the net loss.
Considering the working capital deficit along with the company’s loan obligations, the continuation of TurkPower remains under a substantial doubt.
