A lack of catalysts in terms of communication from the management team continues to push Neah Power Systems Inc (OTCMKTS:NPWZ) lower in the market. With the stock trading at lows of $0.00040 a share, it is unlikely to bounce back its sentiments having been battered on the street.
Short Interest Increase
July, unlike other months, saw a surprise increase in short interest on the stock, an indication that investors are starting to take interest on the renewable energy solutions developer. A sharp increase in short interest shares to highs of 3.68 million underlines how investors remain wary of the company’s prospects going forward. The stock has underperformed the S&P 500 index by 92.4% this year alone having shed more than 80% in market value since the start of the year.
The stock’s sentiments have mostly been affected by a lack of communication from the management team. The last time that Neah Power had a direct interaction with shareholders was in January. In a letter to shareholders, the company reiterated that it expected a busy year as demand for its products continued to grow.
Neah Power Business Development
Neah Power signed a memorandum of understanding with a South Africa Entity last year. It was expected to finalize financial details of the deal this year. The MOU involved a licensing deal that would have enabled the company to gain access to various high-quality products for its operations.
The company was also to gain access to the African renewable energy market that it believes will offer unique growth opportunities going forward. Neah is yet to offer any information concerning the progress it has made so far, on the MOU.
In the shareholder, meeting the company also reiterated that it was in the process of sourcing for capital to act as working capital. A lack of information on the progress it has made on this frontier also continues to raise more questions about the company’s financial position in the market.
Away from the uncertainties, Neah Power Systems Inc (OTCMKTS:NPWZ) Battery was recently selected as a semifinalist by the Department of Energy.
Life Clips Inc (OTCMKTS:LCLP) Rallies on Shepherd Limited Distribution Agreement for Mobeego
Life Clips Inc (OTCMKTS:LCLP) started the first day of the week on a high having rallied by more than 10%. The bounce back after a poor run last week came on the developer of innovative products that strive to revolutionize how people capture, manage and enjoy life’s memories announcing it had signed a distribution agreement for one of its products.
The latest distribution agreement is for its disposable and recyclable battery, Mobeego, with Shepherd limited. Given that the distributor is based in Hong Kong, the agreement should help expand Life Clips Inc (OTCMKTS:LCLP) target market in mainland China.
Shepherd Limited boasts of a strong connection chain made up of a good number of media and distribution channels, which should help, take the popularity of Mobeego to another level. The agreement comes just days after Life Clips signed a similar agreement with Checkout Distributors for the distribution of the product across the US.