Atlantic Wind & Solar (OTCMKTS:AWSL) Gets Smashed
Atlantic Wind & Solar (OTCMKTS:AWSL) dropped below the dime mark once more yesterday – but why?
A bit of due diligence reveals that this may be entirely the wrong question to ask about AWSL. A more appropriate one may be – why has this ticker remained so high up the charts for so long?
Because, at the end of the day, we’re talking about a company whose latest financial report looked like this:
- Cash – $12 thousand
- Total current assets – $287 thousand
- Total current liabilities – $451 thousand
- No Quarterly Revenues
- Quarterly Net Loss – $50 thousand
To its credit, it doesn’t seem like the company has diluted its stock during Q1 of 2016. According to the 10-Q that hit the web ten days ago, its common and preferred share totals have remained unchanged during that period.
This, combined with the fact that the company seems to have issued no new convertible notes means that, unlike many others in a similar situation, AWSL has done very little to hurt investor value over the last few months.
Unfortunately, the company seems to be doing as much good as it is harm – which is not much. This may well be why AWSL‘s market cap dropped from 5 million to 4 in yesterday’s session, and why it may continue to drop even further in the sessions to come.
