Windstream Technolog (OTCMKTS:WSTI) Is Still Crashing Hard
Windstream Technolog (OTCMKTS:WSTI) slid another 21.57% down the charts on Friday, managing to fall way below the nickel mark before the week’s closing bell finally arrested its descent.
Evidently the news that WSTI has been short-listed by the Ministry of New and Renewable Energy (MNRE) to aid the development of hybrid energy solutions could only do so much for the ticker.
WSTI‘s recovery lasted just one short session after which the ticker was quickly headed down again. Now, company share prices are at another annual low – and truth be told, this state of developments isn’t all that surprising.
After all, WSTI doesn’t have much going for it. Its latest financial report showed the following disconcerting figures:
- Cash – $594 thousand
- total current assets – $5 million
- total current liabilities – $9.99 million
- annual sales – $1.7 million
- annual net loss – $11.3 million
And if the fact that the company has registered a gross loss of approximately $600 thousand for 2014 wasn’t bad enough, the company’s toxic dilution statistic certainly is.
On Apr. 7, 2015 WSTI issued 4.6 million shares at $0.035 and another 4.6 million at $0.025 on Apr. 10, 2015. Investors are advised to punch those numbers into a calculator and see if they like what comes out.
In conclusion – WSTI‘s mediocre financials and dubious management choices have pushed the ticker to the bottom of the charts more than once in the past, and continue to do so presently. With this in mind – let the buyer be ware.
