23 Jan 2014

Energy Mad shares surge

7:18 am on 23 January 2014

Shares in Energy Mad doubled on Wednesday after it announced it has begun selling its energy-efficient light bulbs on the giant internet site, Amazon.

It was the company's fourth announcement of selling milestones this year which have propelled the shares from 24 cents at the end of last year to as high as 68 cents on Wednesday. The shares closed on Wednesday up 26 cents at 60 cents.

However the stock remains a long way from the September 2011 float price of $1.

The company struggled to raise its minimum subscription of $5 million, having to extend the float period, and the shares hit a record low of 21 cents last November.

Energy Mad reported a $2.5 million loss for the six months to September last year, up from a $454,000 loss in the same six months a year earlier.