Alternative Energy Partners Inc. (OTC:AEGY) Climbs Up Again, Driven By Intentions
12 Aug 2010

While Alternative Energy Partners Inc. (OTC:AEGY) business is still in the phase of the good intentions, their stock keeps surging the whole week, on stock promotions and on the latest fancy press release.

For a forth trading session in row, AEGY stock gets among the gainers and accumulates volume. Yesterday, the price increase was 11.55% and the market closed at $0.115 for a share. The volume was also impressive, nearly 7.3 million shares changed hands, 2.7 million of the deals being short sales. As the latest press release dates back to last Friday, it seems that yesterday’s stock promotion has provided for the sudden volume gain.

Following the press release about the “third European green energy deal” of the “subsidiary” Skynet Energy Systems, some dilution news came out as well, through a securities registration statement. The company registered 18,3 million new shares, already issued or still to be issued to eight consultants and legal advisers.

In the latest quarter report, nothing has been mentioned about a Skynet subsidiary, nor about its European deals. Moreover, it seems that the main activity of Alternative Energy so far consists of issuing shares, exchanging shares with other companies, taking loans and leasing some office space. The agreement for the latest was however terminated in short, as AEGY was obviously unable to pay the rent.

Also according to the quarter report for the three months ended this April, cash remains the only asset of the company and it is rapidly melting down from nearly $67,000 end of last July to around $1,000 at the end of this April. The company continues to have no revenues since its inception in 2008, but an accumulated loss of $133,677. The plan is “to become involved in the alternative energy sector”, but as already mentioned, it is just a plan.

Subsequent to the reporting period and through an acquisition, the only subsidiary of AEGY is Sunarias Corporation, whose business activities are also still an intention. The acquisition was paid with 5 million newly issued AEGY shares. Thus, the only “technology and proprietary intellectual property” that AEGY now has was acquired by Sunarias from its developer Gary Reed, in exchange for 100,000 shares of Sunarias common stock. Currently, Mr. Reed is AEGY’s Chairman, sole director, CEO and CFO.

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