Powerdyne International Inc. (OTCBB:PWDY) Doubles in a Day
In yesterday’s session the stock of Powerdyne International, Inc. (OTCBB:PWDY) popped 100% up on the charts. The move loses a lot of its oomph when one takes into account that even after the spike, PWDY is still in triple zero land. The company’s share price stopped at $0.0008 by the bell after 224 million PWDY shares changed hands – an all-time volume record for the ticker.
The company’s stock was quietly idling about in the middle of triple zeroes territory, before a press release pushed it into heavy trading yesterday. PWDY announced that the installation of its first PDI power solution was completed successfully. The installation is located in a municipality of Puerto Rico, near the coastline. The customer who will make use of PWDY‘s power generation installation and be able to go off the main electrical grid is actually a drugstore called Farmacia Brisas del Mar.
The news of PWDY completing a project and transitioning from a development stage company to a ‘fully operational business’ was enough to push it in the upper end of triple zero prices. The company’s latest quarterly report may throw a bit of a wet blanket on trader enthusiasm. Here is what PWDY published as of its last quarterly report for Q1:
- $25 thousand in cash
- $494 thousand in total liabilities
- zero revenues since inception
- $63 thousand in quarterly loss from operations
Additionally, within the three months between December 31 and March 31, the company diluted its common stock by exactly one third within the space of just three months. PWDY went from 369 million outstanding common shares to 493 million in late March.
Traders may want to also know that the company issued 39 million shares at $0.0004 and another 25.9 million at $0.0003, and both of those issuances took place in March 2015.
It’s a commendable move that PWDY finally finished its first commercial project, even if the customer is a humble drugstore. However, in light of the dilution and plenty of cheap shares issued only recently, traders may want to be extra careful with this one.
