One World Holdings Inc (OTCMKTS:OWOO) Spikes Again
One World Holdings Inc (OTCMKTS:OWOO) managed to add another 23.82% to its market value yesterday, as it announced the final date of its investor conference call.
Evidently, said call will be conducted on July 1 at 11:30 AM eastern time, but unfortunately investors will only be able to listen to it and not actively participate.
Still, the announcement was obviously enough to rekindle interest in OWOO stock, and by the time the final bell arrested its ascent, it had climbed as high as $0.0079.
Which is no mean feat, if you consider the fact that OWOO seems to have almost nothing going for it. Its financials certainly show nothing that could warrant this jump:
- cash – $8 thousand
- current assets – $322 thousand
- current liabilities – $17 MILLION
- revenue – $739 NUMBER NOT IN THOUSANDS
- operating loss – $498 thousand
Further, as far as due diligence can determine, the company’s share structure is in an even worse state than its financial standing:
- 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
And what’s even worse is that the dilution just seems to rain down without an end in sight. Just April 2015 saw OWOO issue another $100 THOUSAND worth of convertible notes, with discounts of up to 50% or fixed conversion rates of $0.001 per share.
The upcoming conference call should shed some much needed light on the matter, but what reassurance can be given in the face of so much damning evidence?
A word of advice is probably in order here – investors should be very wary of OWOO. The stock is still volatile, and thus attractive for opportunistic traders, but its multitude of red flags scream that its charts may turn really ugly really quickly.
