One World Holdings Inc (OTCMKTS:OWOO) Switches Direction
[[tagnumber 0]][[tagnumber 1]]One World Holdings Inc (OTCMKTS:OWOO) has stayed off the investor radar for quite some time. The company wasn’t even trying to impress anyone as we hadn’t heard from them in the past few months.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]That was until this Tuesday when [[tagnumber 6]]OWOO[[tagnumber 7]] issued a press release that informed investors that they were going to launch their Prettie Girls!™ Tween Scene collection at around 3000 Walmart stores by October this year. This sounds great, especially when looking at the numbers that were contained in the company’s balance sheet for the first quarter of the year.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 11]] [[tagnumber 12]]cash: $8,455[[tagnumber 13]] [[tagnumber 12]]current assets: $322,365[[tagnumber 13]] [[tagnumber 12]]current liabilities: $17,123,072[[tagnumber 13]] [[tagnumber 12]]revenue: $739[[tagnumber 13]] [[tagnumber 12]]operating loss: $498,064[[tagnumber 13]] [[tagnumber 22]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Those are definitely numbers that you don’t want to see in a company that you might invest money in. But [[tagnumber 6]]OWOO[[tagnumber 7]] has it all. It’s not just the horrible financials of the company. There has also been massive dilution. As we wrote in our previous article, the number of outstanding shares has risen by more than 10 times over the course of the past year.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]There is also a lot of convertible debt and despite the promises that the company will stop its practice of “[[tagnumber 32]]being funded by predatory lenders[[tagnumber 33]]” we still see more convertible debentures issued. This might just be one of the reasons for which [[tagnumber 6]]OWOO[[tagnumber 7]] couldn’t hold its ground after the impressive 135% gain it made in Tuesday’s session.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Despite the fact that [[tagnumber 6]]OWOO[[tagnumber 7]] is still trying to hype investors with an interview with the company’s founder we saw the ticker drop 15% in yesterday’s session and finished the day at $0.0034. The volume was even greater than Tuesday’s and the 53.2 million shares that changed hands generated $216 thousand in daily dollar volume.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]][[tagnumber 6]]OWOO[[tagnumber 7]] isn’t doing that good in today’s session either. The ticker is currently 11.76% down and we might see it drop even further considering the bad financials and the fact that their Walmart launch is months away.[[tagnumber 2]]