Found some info , a link from another board, about
some buying almost the float in April
not sure if i can post it here?
Renewal Fuels, Inc. (PINK:RNWF) New Six Month Peak On Strong Holder Support
By Violeta Slavtchevska
Date: May 10, 2010
Renewal Fuels, Inc. (PINK:RNWF, RNWF message board) received strong holder support to bounce even higher the resistance level and to climb to a six month peak on Friday. Forum promoters managed to pump the price of Renewal Fuels and led to the breaking trading volumes for the alternative energy stock.
Following a long period of sideways movement of Renewal Fuels stock, the price jumped sharply on Friday by 75% to the definitely highest top in both price and volume for the last six months. The stock closed at $0.0028 and the volume continued climbing to over 61 million share turnover.
The growing investor demand and the 50-day moving average of $0.0011 approaching the 200-day moving average of 0.0012 seem to have been bullish signals strong enough to predict the coming breakup.
Apart from a statement of beneficial ownership, no news about the company have been released recently and the latest filing of financial results dates back to the late 2008. For a company with neither a proven business model nor operational results currently disclosed, speculators are the usual suspects to have caused the jump. As expected, short selling has been intensive over the whole last week, and investors were up for a squeeze as positions would have to be closed and as a large number of the shares traded appear to be locked up.
Investors saw the price climbing up and caused huge turmoil in investor forums on an announcement about a single investor purchasing intensively shares of Renewal Fuels over the whole April. A statement filed around two weeks ago confirmed his ownership of over 36 million shares of the company, representing 93.14% of all shares issued and outstanding. According to the unofficial forum estimations, the investor named Mark Uram has poured the "sizable amount" of $27,300 into the venture, raising speculations about his intentions.
Several versions about Mark Uram's interest in Renewal Fuels are circulating, the most impressive chat room insight being his plans to merge the company with another similar shell entity, from which Uram also has accumulated significant number of shares and to make some working business model out of the two. Though, as the information from the corporate website, according to which Renewal Fuels produces and distributes biodiesel and blended fuels, has not been supported by a current official filing, the usual and much more eligible promoting version still holds.