Windstream Technolog (OTCMKTS:WSTI) Turns Red Again
Windstream Technolog (OTCMKTS:WSTI) had a nice little bounce on Friday, but evidently this state of developments was not to last.
Under the circumstances, it is no wonder that the ticker headed back down after its dead cat bounce was spent. Frankly, this was the most likely course WSTI could take, since there is no news or PR on it, and its financials still look like this:
- Cash – $594 thousand
- Total current assets – $5 million
- Total current liabilities – $9.99 million
- Annual revenues – $1.76 million
- Annual net loss – $11.3 million
Seeing as how WSTI is far from financially sound and its results are hardly impressive, the ticker’s current descent looks completely justified.
This is especially true if you factor in the fact that WSTI still has a ton of debt that converts at a discount of “70% of the average of the three lowest Closing Bid Prices in the twenty consecutive Trading Days immediately preceding the applicable Conversion Date”.
After all of these red flags, there is just one thing left to say – let the buyer beware.
WSTI is already 17% down in today’s early trading.
