After a week of negative price changes, Save the World Air Inc (OTC:ZERO)
broke up the loss. Yesterday, the stock gained
12.12% and its traded volume jumped up. The only thing that remained in mystery was the reason for the climb.
A week ago, the company reported that from Dec 19, 2011 through Jan 15, 2012 ZERO has issued and sold an aggregate of $1,020,734 of convertible promissory notes and warrants to purchase an aggregate of 4,082,936 shares of common stock.
The company received gross proceeds from the closing of the private placement of $927,940.
The news being reported, no further information on ZERO was to follow.
STWA, Inc. claims that it engages in the development and commercializing of energy efficient technologies designed to meet global energy demands reducing green house gas emissions at the same time. In December, the company announced it had signed an LOI with a Chinese enterprise to license its proprietary Applied Oil Technology for the Chinese market. Nevertheless, the financials of ZERO appeared to be disappointing.
As of September 30, the company has registered:
* less than $5K of cash
* working capital deficit in excess of $3 million
* zero net sales and a quarterly net loss of $2.25 million
Considering all the above-mentioned, investing in ZERO looks rather challenging.