GEI Global Energy Corp (OTCBB:GEIG) provides renewable energy solutions, especially in the fuel cell space. The company is managed almost single-handedly by K. J. Berry, who is its chairman, president and CFO and CEO.
Let this analyst breakdown the obvious technical-indicators for GEIG.
Financial highlight
To know how Berry is steering the company you only need to look at the Jan-Jun financial report, the latest report available. GEI Global Energy Corp (OTCBB:GEIG) disclosed $16,000 in treasury, $0 in revenue, $5.2 million in net loss and $2.1 million in liabilities.
As if the results are not dreary enough, the company is also known for diluting its stock, mostly to raise funds for various projects. According to an article by Hotstocked, GEI Global Energy Corp (OTCBB:GEIG) had 379 million outstanding common shares on September 10, which compared with 142 million outstanding shares on August 6. That means that the company diluted its stock by more than 150% in a span of just one month.
Early this year, GEI Global Energy Corp (OTCBB:GEIG) announced a financing deal with Kodiak Capital Group, LLC. Under the agreement, GEIG will receive $10 million over a period of one year to finance its various projects. In turn, Kodiak Capital will get an equity stake in the company. According to Berry, the deal with Kodiak served as a confidence boost for their products and technology.
On their part, Kodiak stated that the team at GEI Global Energy Corp (OTCBB:GEIG) had achieved remarkable progress. The chairman of the Advisory Board of Kodiak, Rakesh Vadyala, said that they would seek to increase their partnership with GEIG.
U.S. patent
Also, in June GEI Global Energy Corp (OTCBB:GEIG) announced a new patent award by the U.S. patent. The award of the patent further enhanced the company’s portfolio of intellectual property while providing a platform for future products.
Although there has been no mention of stock promotion in GEI Global Energy Corp (OTCBB:GEIG), the company dilutes its stock at an alarming rate. Shares of GEIG have declined about 100% so far this year.
