Mike, do you think anyone really cares, and Bill Mathews of The Cheap Investor just strongly recommended this stock as his top pick for the next 1-2 years, and his track record has been unbelievably good.
I have checked out the track record of the companies Bill Mathews claims to have made those 1,000+% gains. But the problem is that many of them do not have that kind of gain over their entire history and I further doubt that he picked them at the absolute low and then sold at the very top.
I'm curious to know on what possible basis this stock could be recommended as a "top pick." The company has no commercial products and it is unlikely to have any in the near future, if ever. It is burning through more than a million dollars per year (much more in the past year), and the only way that it has to raise funds is to issue more stock--in fact, it has issued more than 4 million shares in the past 6 months. From its latest quarterly report:
"The Company...does not have any commercialized products and has not generated any revenue since inception. [It] has an accumulated deficit of $15,963,440 as of February 28, 2013, and does not have positive cash flows from operating activities. Included in the deficit are non cash expenses totaling $4,435,114 relating to the issuance of stock for services, compensatory stock options, warrants granted for value and accretion of debt discount....
"In its report with respect to the Company’s financial statements for the year ended August 31, 2012, the Company’s independent auditors expressed substantial doubt about the Company’s ability to continue as a going concern. Because the Company has not yet generated revenues from its operations and does not expect to do so in the near future, its ability to continue as a going concern is wholly dependent upon its ability to obtain additional financing."
It's also interesting to note that the company did a 1-for-3 reverse split about two years ago, whereupon the stock price fell rapidly to well below its pre-split level--where it has remained ever since.
My guess is that the person who recommended the stock knows nothing about solar power and/or the potential viability of NENE's "technology." Whether he might have other reasons for recommending it--I'll leave that for others to investigate.