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LAS VEGAS, NV–(Marketwire – May 4, 2011) – Li-ion Motors Corp. (OTCBB: LMCO) (FRANKFURT: LL9L) www.Li-ionMotors.com, winner of the 2010 X-Prize using 21st Century Design Engineering of emission-free, all electric high speed long range automotive propulsion systems using the latest lithium-ion battery technology, is pleased to provide its shareholders with a corporate update.
The company has entered into an agreement to purchase approximately 120 acres of land adjacent to a light industrial park in Alberta, Canada. The intentions are to build an electric vehicle manufacturing facility on this property.
The company is also pleased to report it has reduced its liabilities by approximately $5.9 million, with the intention of paving the way for a possible move from the Over-the-Counter Bulletin Board (OTCBB) to the American Stock Exchange for Li-ion Motors Corp. stock. “This is an exciting move for the company and can lead the response to meeting the demand for electric cars. There’s a bright future for us moving forward,” says Stacey Fling, President – Li-ion Motors Corp.
Penny Stocks are stocks traded for under $2 and they represent the small cap companies. They trade on the OTCBB so you will not find them on the major stock exchanges. They are very cheap stocks and normally come for businesses needing capital. They are a very risky investment as the business can go under and leave you with a stock worth nothing. However that being said penny stock trading can be a great money maker, and there are numerous traders who make 6 figures and more from them each year.
The best reasons to trade in penny stocks are the fact that they do not require a large initial investment, meaning that they are an affordable investment for many. Penny stocks are cheap. For example if you were to buy 1000 shares in a company with shares at 10 cents, you would only require an investment of $100, whereas if the shares cost $5 you would require an investment of $5000. Penny stocks also have the potential of huge gains, and have been known to rise as much as 1000% daily. Therefore your $100 investment can be worth $1000. This is very unlikely to happen to other stocks from large cap businesses.
Article source: http://www.marketwire.com/mw/release.do?id=1509736&sourceType=3