I had double majors in college, Business Finance and Government. I feel I put both to good use in a 33 year career in state government. I am especially proud of my 20 years as finance and budget officer for a State Environmental Regulatory agency that ranged between 250 and 320 employees and had annual budgets between 20-25 million dollars.
Truthfully, because of how government is financed as opposed to business interests; only select elements of my financial training provided tools employed in my government career. Having been retired for almost 10 years I have now decided to reactivate my training and dabble in Business Finance. I am enjoying it greatly. Find out the hows and whys after the orange sherbets.
Reading from the internet and researching information of personal interest has been a big part of my life both before and after retirement. I have a wide range of interests. While politics takes up the bulk of my internet surfing and reading time; I also delve into current and historical railroading, general automotive, cooking and recipes, self improvement, paranormal, physics and green technology issues. It is green technologies that has (1) captured a lot of my interest and (2) given me to opportunity to dabble in the “finance” side of business.
Early this spring, I was digging into information concerning a new engine technology based on an old 19th invention, external combustion steam power. Without boring those who don’t get into detail, I will only say the technology is modern, innovative, scalable and “Green.”
The more I read the more I was convinced, as I still am, that this was a product that will eventually be well received by the market place. Then the thought stuck me, “Since I am starting to believe in this technology; is there anyway I can invest in its potential?”
I researched a little further and found some information that both shocked and thrilled me. As I stated earlier I am a state government retiree on a fixed income. My wife and I have a lot of medical problems so while we live comfortably; money is, for the most part tight.
I was hoping to be able to buy 10 or 20 shares of the stock which I found is traded on the “over the Counter” market not the NASDAQ or AMEX markets. When I finally got to looking at purchase price; I found that this is a “penny stock” (stocks traded at less than $1.00 per share.) At the time of my purchases the stock was trading between $.155 and $.165 per share; well within my budget to invest in a number of shares.
The next project was to find a broker through which to purchase stocks. Most online brokerages require a large, to me; initial cash deposit usually ranging from $500 to $1000. I found one that would take my $150 deposit; the only downside being a flat cost of $9.99 per trade meaning my stuck would have to go up 6.5% to even cover the cost of the trade.
Long story short, I now have 1000 shares of this stock at a cost, including commissions, of about $.17 per share. Right now it is down about $.04 cents a share under my purchase price; but that’s OK. I still believe in the technology and company.
Plus I know this highly speculative investment and I am not looking for dividends or a short term gain by turning the stock over. In my opinion the sky is the limit but it will take years, not months to see results.
The same goes for the other 550 share I have purchased in two “green” battery companies. Also penny stocks although trading between $.30 and $.80 cents a share. It is my intention to spend $100 or so this month for 200 shares of a company that will provide electrical generators and controls for the steam engine technology.
I will not mention the companies by name on here. I don’t think it is a good idea to use this forum to tout companies in which I own an interest, no matter how small. However, I am wondering if any other KOS readers are interested in sharing information on Green Technology Penny Stocks. Let me know in the comments and maybe we can put together a way communicate news, ideas and potential investments.
Original article posted in Investing in Green Technology for Fun and ……….