There was a short review about the company posted today at Seeking Alpha that was claiming the company was overpriced, but people who read it and had some sense would see that it used irrelevant information. The person that wrote it put under question the existence of the company's signature product just because he couldn't order it anywhere online and said that there is no way of getting it.
In the meantime we can see that the company announced that they have received order from Food City in Arizona for their signature product ALKALINE84 earlier this month, but it seems that person who wrote the review didn't take his time to read the company news.
On one thing we can agree though, the stock is overpriced. The current market value of WTER is $85 million, but what do they have to back that up.
- cash: $384 thousand
- total assets: $580 thousand
- current and total liabilities: $37 thousand
- revenue for Q2: $32 thousand
- net loss for Q2: $182 thousand
Indeed the company is making progress considering the fact it was incorporated in 2011, but the business is not booming. They have low liabilities and have increased the money they have on hand 10 times when you look back at what they had 2 years ago, but business is still slow.
It would come as no surprise if the stock's price quickly starts to sink, due to slow development, so be sure to do a lot of due diligence and weigh out the risks before you jump in. After all, it's not in pennyland anymore so you will be reaching deep in your pockets for this OTC stock.
Globalstar, Inc. (OTCMKTS:GSAT) was one of the big winners yesterday as it managed to make a low percentile movement, while while the stock was selling like hot cakes and generated a trade value of $4.4 million.
Not so bright was the situation for Xumanii International Holdings Corp. (OTCMKTS:XUII) who fell 41% in price yesterday. At least they are recovering today, but will they manage to close today's session in the gree? Only time will tell.