Gediminas Jasionis

Electron Solar Energy Stock (OTC:ESRG) Soars

by Gediminas Jasionis February 14, 2008

solar_panel.jpgElectron Solar Energy stock (OTC:ESRC) surged over 14 percent yesterday, from 24 to 27.5 cents a share, following the company's announcement of continued record growth. Electron Solar Energy is an international distributor of alternative energy systems.

The company's press release with the good news occurred at 10:52 AM EST February 13. Eight minutes later, at 11:00, the share price jumped from 24 to 27 cents a share.

This follows another surge of Electron Solar Energy stock the day before; February 12, the stock saw a 12.5 percent increase, from 21 to 23 cents a share. Altogether, the last two days provided a 31 percent increase to the company's stock.

According to the company, the increased revenues stem from the new bid and contract business and the acquisition of Express Communications Supply on January 31. Electron Solar CEO Christopher Quinn said, "We are really excited about the early indications for our sales volume and profits this year. In this quarter our financial statements will realize the addition of our new division which adds significant revenues and profits, as well as manufacturing synergies."

For the nine months that ended September 30, 2007, the company generated sales of over half a million dollars, and after deducting the cost of the goods this made for a gross income of $137,920. After operating expenses, this translated into a net loss of $270,436. The new sales figures should be expected to reduce this loss.

This is a company in rapid transition, but these changes pose problems as well as opportunities. From May to present, the stock price fell from $1.50 to just $0.27 per share.

In January 2007, the company changed its name from Envigra Inc., which was a manufacturer of food preparations.

Electron Solar is scheduled to release full fourth quarter 2007 results next week on, so the stock price may further adjust then.

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