FutureWorld Energy, Inc. (OTCMKTS:FWDG) Goes Up On News
FutureWorld Energy, Inc. (OTCMKTS:FWDG)’s stock has been finding it hard to attract investor attention in the recent months and their dollar volumes rarely exceeded $50 thousand per day. Lately, however, the PR machine has started churning and we see some increased interest.
First, the company announced a letter of intent to acquire Torchlight Energy, Inc. in the beginning of January, but that just increase the price of their stock a bit, while buying volumes remained quite low.
This month they started out with a whole new approach. On February 18, the company announced that they have acquired Bitcoin Labs, a company we never heard about before and one that there is absolutely no information about, except FWDG‘s press release.
This managed to attract some interest and the company stock recorded a decent session with a 43% gain on Thursday, however, it seems they wanted more. That’s when they decided to go for the golden industry at the moment – hemp.
On Friday, an hour before the market opened, FWDG came out with a statement that they have created a division called HempTech, with which they are planning to provide technical assistance to the growers of industrial hemp.
This proved to be another thing that got investors excited and FWDG climbed another 30% in the final day of the week on high volumes. In the end of the session there were a total of 18 million traded shares, that generated $366 thousand in dollar volume.
Still, it seems that people seem to be forgetting the current financial situation of the company, which isn’t exactly rosy. Despite the fact that the company has been operating for more than 11 years, the numbers from their quarterly report for the period ended December 31, 2013 don’t show much development.
- cash: $40
- current assets: $0
- total current liabilities: $1.3 million
- revenues: $0
- net loss: $52 thousand
Let’s not forget that FWDG has tried different business sectors with no success in the past. This leads us to question the probability that they will make it happen this time, which isn’t really high considering all the companies that say they are going to enter the marijuana sector just to push their stock’s price up.
All in all, FDWG is a company with a history of failure in a dire financial state, so we consider their stock quite risky. Proceed at your own risk, but be sure to do a lot of due diligence.
Nuvilex, Inc. (OTCMKTS:NVLX) also finished the week in the green with a good 29% gain in price. Latteno Food Corp. (OTCMKTS:LATF) wasn’t so fortunate and dropped 10% of its value.
