VEGA BIOFUELS INC (PINK:VGPR) has been stuck at $0.0001 per share for weeks, though suddenly it hit the massive trade. 
Over the past few days, the stock has been constantly jumping on the high trade and yesterday it managed to sell 18 million shares of its common stock.
This time, the reason for the volume spike is absolutely clear – promotions and supportive announcements. According to the records, yesterday Vega Biofuels reported that it has submitted its 2010 10-K report to the OTC Markets. The report being reviewed, OTC Markets has changed the tier of Vega Biofuels to the highest level: Pink Sheets Current Information. Along with the good news, last night VGPR entered a promotional campaign worth $3.000. Apparently, the result of the promotion should be seen shortly, as the campaign is still on today.
Apart from the announcement about its improved status, Vega Biofuels has not released much news about its activities lately. The last one dates from Feb 8, when the company announced it was signing an agreement with The Timber Group, LLC to purchase different forms of timber and timber waste. The purchase was connected with Vega’s plans to build a manufacturing plant in South Georgia for producing green energy bio-coal.
Vega Biofuels Inc was formed to pursue the production and sale of biofuel products throughout the world. Recently, the company announced it were to buy a bio-coal plant, but it is not clear what money it will use to do it.[BANNER]
According to its annual report, VGPR is completely out of assets and cash resources and it has liabilities to pay instead. Besides, by end-December, 2010 the deficit accumulated during the development stage period was already over $2 million and there is the net loss as well.
Obviously, instead of finding a way to get profitable, Vega Biofuels has been regularly issuing great amounts of its common stock, while at the same time threatening shareholders with dilution.
