AFR Article

Saw a write up for RFT in the AFR today. Featured in a tongue in cheek article about penny stocks.

http://www.copyright link/markets/e...punt-on-the-penny-stocks-boom-20160629-gpv2o6

"Rectifier Technologies

As an example, consider Rectifier Technologies (RFT), whose shares stood at 0.6¢ at the start of 2016. By June 20 they had firmed to 0.9¢. Then on June 22 they jumped to 3.2¢ and on June 23 hit the giddy height of 4¢. The following day they retreated to 3.3¢ and as Pierpont writes they are 3¢. That's action all right.

If BHP shares had quadrupled in two days, the newspaper headlines would have been screaming about it. But being down the bottom of the market RFT hardly raised a media eyebrow. The cause of the excitement was an announcement by RFT on June 21 that its RT18 425V rectifier had been "successfully designed into Efacec's QC24S EV charger, where three RT18 rectifiers operate in parallel to produce 24kW".

For a technological dinosaur such as Pierpont, that announcement might as well have been written in Swahili, but he will attempt a rough translation into English. Rectifiers are sophisticated electronic gadgets that convert alternating current (AC) electricity into direct current (DC) power, which is smoother and well controlled. EVs are electric vehicles. So RFT's rectifiers can apparently help charge up the batteries of electric vehicles.

Pedro Silva, managing director of Efacec Electric Mobility, said the QC245 was the perfect charger for fleets, car dealers, repair shops and others and combined with the RT18 would be "the most advanced solution in power conversion" for electric vehicles.  

All jolly good, but many a punter would have died of old age waiting for RFT to get that far. By Pierpont's count, RFT has been working on rectifiers since at least 1999, when it was known as ICE Corporation. The shares have been below 1¢ since 2008, partly because there are now 1.25 billion of them on issue.

RFT actually made a profit of $127,000 last year, but spread across all that capital it only amounts to 0.01¢ per share. Which underlines the basic problem of many penny stocks. They've had to issue so many shares in the past to stay solvent that by the time they start making profits their earnings amount to zilch compared to their astronomical issued capital."


Nothing new, but good to see it is catching some attention.