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Another Obama Green Scheme is Circling the Drain
Ener1s stock has plunged 95 percent this year and the company said Aug. 10 its determining whether the company has sufficient liquidity to fund its operations. Its also restating its financial results for 2010 and the first quarter of 2011, and has not filed its second-quarter report. Ener1s battery-manufacturing subsidiary EnerDel Inc. received an $118.5 million grant from the U.S. Energy Department in 2009 to help the company expand its production capacity. In January, Vice President Joe Biden visited an Ener1 factory in Indiana to promote companies building green vehicles. The company was at $4.17 when Biden visited the plant on Jan. 26. Ener1 shares dropped 1 cent today to 19 cents Correction: 15 cents (-20%) EoD 9/28/11. in Nasdaq Stock Market trading. Ener1 has a market value of Posted by: Eohippus Phater7165 2011-09-29 |
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