Windstream Technolog (OTCMKTS:WSTI) Digs Deeper Down The Charts

[[tagnumber 0]]T[[tagnumber 1]]he start of the year was rather disappointing for Windstream Technolog (OTCMKTS:WSTI) and its shareholders, but things took a turn for the better in the beginning of April. Unfortunately, the upward momentum was short–lived and we saw [[tagnumber 2]]WSTI[[tagnumber 3]] crashing back down again.[[tagnumber 4]] [[tagnumber 0]] [[tagnumber 4]] [[tagnumber 0]]And while the ticker keeps sliding its market value has dropped below $1 million more recently. This is rather strange, considering that the company is generating decent revenues, although it is still not in a very good financial shape. Here is an example of some of the numbers of prime interest contained in [[tagnumber 2]]WSTI’s[[tagnumber 3]] report for the first quarter of the year.[[tagnumber 4]] [[tagnumber 0]] [[tagnumber 4]] [[tagnumber 13]] [[tagnumber 14]]cash: $192 thousand[[tagnumber 15]] [[tagnumber 14]]current assets: $4.7 million[[tagnumber 15]] [[tagnumber 14]]current liabilities: $10.2 million[[tagnumber 15]] [[tagnumber 14]]quarterly revenues: $968 thousand[[tagnumber 15]] [[tagnumber 14]]quarterly net loss: $987 thousand[[tagnumber 15]] [[tagnumber 24]] [[tagnumber 0]] [[tagnumber 4]] [[tagnumber 0]]What is worrying, however, is the massive amount that the company has in the form of convertible debt. The convertible notes that were out there when the Q1 report was filed were estimated at $3.5 million and a further $200 thousand worth of notes was issued in April.[[tagnumber 4]] [[tagnumber 0]] [[tagnumber 4]] [[tagnumber 0]]After dropping throughout last week we saw [[tagnumber 2]]WSTI[[tagnumber 3]] start this one badly as well. The ticker dropped 19.27% in yesterday’s session and finished the day below the 1 cent per share mark at $0.0088. A total of 8 million shares were traded, but only managed to generate $81 thousand at those price levels.[[tagnumber 4]] [[tagnumber 0]] [[tagnumber 4]] [[tagnumber 0]]Before the start of today’s session the company President and CEO, Dan Bates issued an optimistic letter to shareholders which helped [[tagnumber 2]]WSTI[[tagnumber 3]] gap up at 1 cent, but the ticker quickly returned to its downward direction and is sitting 2.27% in the red as of the writing of this article.[[tagnumber 4]] [[tagnumber 0]] [[tagnumber 4]] [[tagnumber 0]]In any case, [[tagnumber 2]]WSTI[[tagnumber 3]] remains a risky investment choice so doing your due diligence and weighing out the risks before putting any money on the line is absolutely crucial.[[tagnumber 4]]