This week BioSolar Inc joined with 10 other emerging small-cap companies and took part in an online monthly investor’s forum sponsored by RedChip Companies Inc. The forum, which took place on January 16, 2008, featured companies from Alternative Energy, Biotechnology, Manufacturing and Oil and Gas industries, and can be revisited at http://origin.vcall.com/customevent/conferences/redchip/20080117/index.htm. By joining this forum BioSolar hoped to display its company objectives and gain additional funding for current projects.
BioSolar was also in the headlines this week after its backsheet material passed the rigorous Damp Heat Test, which moved the material one step closer to certification by the Underwriters Laboratories (UL). Dr. David Lee, BioSolar’s President and CEO commented on BioSolar’s “fast track” approach to receiving UL approval saying, “UL approval is an extremely demanding process. It can take years and hundreds of thousands of dollars to obtain UL approval for a photovoltaic module. Our ‘fast track’ process is expected to dramatically shorten the time it takes for the first solar module maker, our partner SBM Solar, to obtain UL approval with our backsheet.”
With these recent announcements, stock prices soared on Friday with the stock hitting an all time high of $1.20; finishing at $1.11, up over 20% on the day. BioSolar is a non borrowing company, so they currently boast an incredible current ratio of 865.46. The company is still in developmental stages and is yet to turn a profit, but has investor’s confidence while awaiting approval from the UL.
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