BioSolar, Inc. With An Amazing Volume Performance
21 May 2010

BioSolar, Inc. (OTCBB:BSRC)  surged up by 89.9% to close on $0.19 with total traded volume of over 4 million shares.

The surprisingly high price and volume were due to the company’s new bio-based backsheet for solar panels, which replaces the expensive and environmentally hazardous petroleum-based backsheets. BSRC’s management  team claims their product is more cost effective when compared to others, and they expect higher profit.

The filings show that BSRC has been often promoted by RedChip Companies, Inc. and by RedChip Visibility, a division of RedChip Companies. BioSolar, Inc. paid RedChip Visibility $25 thousand for a research program, though the analysts contributing to this report don’t hold any shares of BSRC.

BioSolar, Inc. is in a development stage and the company had no revenues. Due to an increase in its operating expenses, the net loss for 2010 was higher than the year before, but company’s working capital and current assets still moved up.

Currently, the company intends to enhance its test programs for further development of bio-based solar module components. Management estimates it will require additional cash resources and they should investigate additional financing alternatives, including equity and debt financing. If BSRC fails to obtain the sufficient funds, they may be forced to reduce or cease the development of their products.

1 Comment
  1. Kewl you sholud come up with that. Excellent!

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