One World Holdings Inc (OTCMKTS:OWOO) Crashes Despite PR
Good news is literally pouring out of One World Holdings Inc (OTCMKTS:OWOO). Its latest press release announced that its flagship product will hit shelves as soon as the 2015 holiday season. So why is the ticker plummeting down to the bottom of the charts once more?
As usual, the answer to that question becomes obvious after a bit of due diligence is done. Just a glance at the company’s latest financial report is enough to quell investor enthusiasm:
- cash – $8 thousand
- current assets – $322 thousand
- current liabilities – $17 MILLION
- revenue – $739 (not in thousands)
- operating loss – $498 thousand
This is all that OWOO has going for it. Further research only makes matters look worse. Just look at the company’s share structure history:
- As of Nov. 18, 2013 OWOO had 823 MILLION shares of common stock
- On Jan. 13, 2014 OWOO performed a 1 for 750 reverse split
- As of May 15, 2014 OWOO had just 26 million shares of common stock
- As of May 19, 2015 OWOO had 276 MILLION shares of common stock
Investors should really punch those numbers into a calculator and see if they like what comes out before they put money on OWOO.
And, while they are doing that, they would probably do well to note that April 2015 saw OWOO issue another $100 THOUSAND worth of convertible notes, with discount provisions as atrocious as 50% or fixed conversion rates as low as $0.001 per share.
This being the case, is there really any wonder that the ticker plummets on a regular basis?
