One World Holdings Inc (OTCMKTS:OWOO) Soars Even Higher
One World Holdings Inc (OTCMKTS:OWOO) exploded another 24.73% up the charts yesterday, fueled by all the media attention thrown its way.
Just two days ago, the company announced that the “Prettie Girls!” are being featured in the September issue of Parents magazine, and it was clear that the popularity such exposure affords will probably last to push the ticker up the charts for a couple of sessions. Additionally, Microcapdaily keeps heaping praise on OWOO and inciting investors into buying with blatantly optimistic analysis.
Which is sort of funny, because actual due diligence on OWOO leaves the one doing it with scant little in the way of optimism. The company’s latest financial report looked simply dreadful:
- NO CASH!!!
- current assets – $608 thousand
- current liabilities – $25 MILLION
- quarterly revenue – $833 thousand
- quarterly net loss – $8 MILLION
And if the picture those numbers paint was not bleak enough, further research reveals the fact that OWOO is positively swimming in toxic convertible debt. The period January through June 2015 alone saw the company issue debentures for $853 thousand that convert into common stock at horrific discounts.
And it’s not like said notes are just sitting there inert in the noteholders’ pockets. The fact that between November 2014 and August 2015 the OWOO‘s common stock ballooned from 50 million to nearly 370 million speaks clearly enough in and of itself on the matter. The fact that most of that stock was issued at an average rate of $0.004 per share does so even more loudly. Another 29 million shares were issued at a price of $0.001 a pop in August 2015 alone.
Investors should make what they will of these facts, but they should definitely consider them before committing to OWOO stock.
