Worldwide Internet (OTCMKTS:WNTR) Recovers Some Of The Lost Value
Worldwide Internet (OTCMKTS:WNTR) announced that they were entering the medical marijuana industry back in February and the press releases managed to push the stock price up substantially. However, it looks like the news weren’t enough to stop the inconsistent movement pattern of WNTR‘s value.
The stock remains risky and is constantly swaying in both directions, struggling to find its way. This week started with a bad session in which WNTR gapped up, but started sliding down ending up 10% below its previous price.
Yesterday, however, the company came out with a press release announcing a partnership agreement it has formalized with SinglePoint, Inc. The idea is for SinglePoint and the newly formed medical cannabis subsidiary of WNTR, Green Company Holdings, Inc. to develop and implement mobile payment and marketing services for the growing marijuana industry.
Still, the fundamentals of the company don’t look pretty, looking at their quarterly report covering the period ended September 30, 2013.
- cash: $5014
- total current assets: $5014
- current liabilities: $345 thousand
- total liabilities: $948 thousand
- revenues: $43 thousand
- net income: $38 thousand
The revenues come from investment income, however, which means that the company wasn’t doing anything for that time being, but we don’t see any sign that there was any activity checking at the news from the period, so things might have changed.
Will the company finally start operations on some of the many projects and industries that the management has said they will go into is for time to tell. Until then, be sure to do your due diligence and weigh out the risks before deciding to make an investment.
Tranzbyte Corp. (OTCMKTS:ERBB) made a strong session yesterday, with a good 10% gain a $8.3 million dollar volume. Hemp, Inc. (OTCMKTS:HEMP) and SK3 Group, Inc. (OTCMKTS:SKTO) also made some small jumps in price on decent volumes.
