New Energy Technologies Inc (OTCMKTS: NENE) has been moving in a bullish trend since the year starts. The stock did saw a major bullish rally in the month of January, 2014 when it touched its high of $2.95 at a trading volume of around 268.11k.
The share price saw it’s highest of $3.61 while its lowest was $1.10 in last one year. The stock maintains good liquidity with average volume of 3 million shares per day.
New Energy Technologies Inc (OTCMKTS: NENE) has been mostly moving on marijuana news and also have been a dire choice for promoters The Stock was heavily promoted by ‘Market Wrap Daily’, ‘Paying Party ‘and ‘No Third Party’. On the bright side, NENE has a reasonable amount of cash in the bank and the debt is not significant enough to ruin the balance sheet.
New Energy Technologies Inc (OTCMKTS: NENE) is a development-stage company. The Company conducts its operations through three wholly owned subsidiaries Sungen Energy, Inc. (Sungen), Kinetic Energy Corporation (KEC), and New Energy Solar Corporation (New Energy Solar). The Company is a renewable and alternative energy company developing two sustainable electricity generating systems. The Company focuses on the development of two technologies: MotionPower and SolarWindow. The Company’s SolarWindow products in development are designed to generate electricity on glass while remaining see-through. MotionPower products in development are systems that generate clean electricity by capturing and making use of the kinetic energy of moving vehicles. As of August 31, 2013, it had no commercial products. As of August 31, 2013, the Company had not generated any revenues.
New Energy Technologies Inc (OTCMKTS: NENE) developer of see-through SolarWindow™ coatings capable of generating electricity on glass and flexible plastics, announced today that its SolarWindow™ electricity-generating coatings were demonstrated to Congress during National Lab Day on Capitol Hill.
On Tuesday, September 16th, 2014, SolarWindow™ Modules were demonstrated to Congress during the first-ever National Lab Day, which was cosponsored by the U.S. Department of Energy (DOE). The Company’s high-performance, large-area SolarWindow™ modules were fabricated through the efforts of New Energy’s Principal Scientist, Dr. Scott Hammond, in collaboration with DOE’s National Renewable Energy Laboratory (NREL).
New Energy’s SolarWindow™ modules were shown to Congress by NREL at the event to demonstrate a wide variety of cutting-edge photovoltaic technologies. “Demonstrating our latest, large-area and high performance SolarWindow™ modules at National Lab Day on Capitol Hill presents a wonderful opportunity to increase awareness of our SolarWindow™ technology and electricity-generating coatings to Congress and others among US governmental and scientific representatives,” explained Mr. John A. Conklin, President and CEO of New Energy Technologies, Inc. “Additionally, this exhibition also allows us to further strengthen our productive relationship with NREL and DOE by assisting them in demonstrating the value of industry-national laboratory partnerships for the development of cutting-edge technologies.”
National Lab Day was a chance for the Department of Energy’s 17 national labs to display some of their cutting-edge scientific research and technical advancements to members of Congress. The demonstration of New Energy’s SolarWindow™ modules during this event is part of the Company’s broader effort to raise awareness of the technology features and benefits as the Company continues down the path towards commercialization.
New Energy Technologies Inc (OTCMKTS: NENE) is a typical development stage company with $0.35 million cash and total assets of $0.53 million. The company has total current liabilities of $0.12 million resulting in Positive equity. NENE trading in red yet continues to trade in impressive volume of 3 million shares per day, however does not seem to be moving anywhere close to its earlier position in the near future.
Also the Positive Equity is not the result of operational activities but due to the injection of Additional Capital of $17.44 during the year.
Considering the fundamentals its market capitalization of $33.06 million is clearly overstated.