Is the Corona Discharge Electrostatic Motor enough to jolt the interest of traders into shares of SEFE (OTC: SEFE)? The company announced today that it had completed the prototype for a low-power corona discharge motor. According to SEFE, this type of electrostatic motor can serve medium to high-power applications. Basically, the technology allows the motor to handle much higher DC currents than the traditional electrostatic motors. The question for traders is whether this announcement, following a summer string of news releases, can stimulate any sustained rally in the stock.
SEFE shares have actively traded since the beginning of March, but the stock has seen a wide price range in a short period of time. Towards the end of April, shares traded at a high water mark of $2.96. In May, the stock began a four month long slide with share prices hitting a record low yesterday, and again at the opening bell this morning when the stock traded for $0.15.
After making a yearly and intraday low on the first trade today’s session, the stock caught some electricity in the first 30 minutes when share prices jumped 6 cents to an intraday high of $0.21. Buyers and sellers showed little power for the remainder of the trading day as the stock hovered near $0.20. The stock finished the day with a gain of over 22% to close up 3.5 cents at $0.19. Over 1.3 million shares were traded during the session compared to an average daily volume 561,000.
Other recent news on the company includes:
- September 11, 2012: The company begins construction on its electroplating laboratory, which will support the testing of various corona discharge air terminal configurations.
- August 28, 2012: SEFE announced it had reduced the number of outstanding common shares by 4.5 million due to a Separation and Release Agreement with a former director.
- August 27, 2012: The company completes construction of a high voltage test chamber. The “cage” will be used for various Research and Development activities.
Promoters of SEFE have been quite active lately. In an August 27, 2012, newsletter, Penny Stocks had this to say about the company, “SEFE is trading on incredible volume as market interest begins to increase.” A full list of promotional newsletters for SEFE can be read on Stockreads.com. Special Penny Stocks put this note out today, “SEFE is developing its flagship product, Harmony, an aerostatic collector to harness atmospheric electricity and convert atmospheric electricity into usable power.” Special Penny Stocks disclosed it had received $40,000 for investor relations work. A total of 173 promotions for SEFE can be found on Stockpromoters.com.
The focus of the company is to develop a renewable source of energy from static electricity that occurs naturally in the atmosphere. SEFE plans to sell electricity produced by its Harmony III unit in addition to leasing the device to industrial interests. The Scottsdale, Arizona, company was founded in 2004.
Please make sure to read and completely understand our disclaimer at https://www.wallstreetpr.com/disclaimer. While reading this article one must assume that we may be compensated for posting this content on our website.