Reuters – PetroAlgae is one of those many clean-tech companies that seem to burn through cash faster than a Hummer goes through a gallon of gas. Yet something curious is going on with shares of this Melbourne, Florida-based company, which is hoping to make money from turning algae into oil.

Over the past month, the stock price of PetroAlgae has rocketed from $8 to as high as $32.75 on ultra-thin trading of the shares (as of late Monday it had fallen back to around $10).

PetroAlgae boasts a rather healthy $1 billion market value — after being as high as $3.4 billion earlier Monday — even though it has no revenues, a $34 million accumulated deficit and its auditor isn’t sure the company can continue as a going concern.

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Tags: 1-billion, algae, gallon of gas, going concern, hummer, melbourne florida, money, petroalgae, reuters, stock-price

Reuters – General Motors Corp on Thursday said its auditors had raised "substantial doubt" about its ability to survive outside bankruptcy if it fails to stem its losses and stop burning cash.

The "going concern" warning from the struggling U.S. automaker had been expected, but underscored the stakes for GM as it seeks up to $30 billion in U.S. government aid to restructure outside a court-supervised bankruptcy process.

GM’s shares dropped 15 percent to $1.87 in premarket trading.

GM said its creditors had agreed to waive a requirement that could have allowed them to force the automaker to repay more than $6 billion in loans because of the warning in order to allow GM to press its case for government aid.

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Tags: automaker, bankruptcy process, creditors, general motors corp, general-motors, gm, going concern, government aid, loans, losses, reuters, substantial doubt