{"id":3355,"date":"2013-12-06T12:13:58","date_gmt":"2013-12-06T12:13:58","guid":{"rendered":"\/?p=3355"},"modified":"2013-12-06T12:28:08","modified_gmt":"2013-12-06T12:28:08","slug":"worldwide-internet-otcmktswntr-surges-aims-for-0-01","status":"publish","type":"post","link":"\/articles\/worldwide-internet-otcmktswntr-surges-aims-for-0-01\/","title":{"rendered":"Worldwide Internet (OTCMKTS:WNTR) Surges, Aims for $0.01"},"content":{"rendered":"

\"5WNTR.png\"Worldwide Internet (OTCMKTS:WNTR<\/a>) got pumped back in July. Premier Equity Reports, The Stock Braniac, Penny Stock Crew and a few other, smaller promotional outfits sent more than twenty alerts over the email, but despite their best efforts, the results were absolutely catastrophic. WNTR<\/a> managed to drop from $0.175 to less than $0.01 in just over a week and showed just how dangerous penny stock promotions can be. <\/p>\n

Since then, it has failed to come out of the double zero territory and until recently, It looked like people simply weren’t ready to trust the company. Now, though, things are changing again. <\/p>\n

More than 30 million shares changed hands during yesterday’s session bringing the dollar volume to around $243 thousand. The price exploded right off the gate, hit an intraday high of $0.011, and settled at $0.0093. That’s a lot of movement for a stock that has a history of losing more than 80% of its value in a single day, but, perhaps more impressively, it managed to do it without the help of the paid pumpers. But if there isn’t a promotion, then what is pushing the ticker up the charts?<\/p>\n

News, and lots of it.<\/p>\n

WNTR<\/a> issues a press release every other week and we should say that every single announcement sounds mightily exciting. It all started back in July, just a week before the pump began. WNTR<\/a> announced that they are turning into a diversified holding company and, apparently, the first step towards the transformation was the acquisition of some real estate properties in New York.<\/p>\n

The management team said that the Honeywell Estates are going to bring in around $3.2 million in annual revenues and a net income of $1.7 million. Every single press release since then has featured similarly optimistic figures but the fact remains that the latest financial statement doesn’t look all that great.<\/p>\n

Indeed, there’s around $18 million in assets, but $15 million of them are labeled as “deposits”. And since WNTR<\/a> are using the alternative reporting standard, we can’t really know what sort of deposits they are. At the same time, the cash reserves stand at just over $5 thousand while the current portion of the liabilities exceeds $345 thousand. Small wonder, then that, according to the report, the company failed to make the necessary payments on the real estate acquisition.<\/p>\n

Back in August, WNTR<\/a>‘s CEO, Mr. Frank Kristan announced that the company has secured a line of financing which is supposed to provide them with plenty of working capital. Then again, he also said that the assets should come in at around $50 million but as the Q3 report shows, his calculations were a bit off.<\/p>\n

There is another, more worrying thing. It would appear that Mr. Kristan is quite a famous person, but unfortunately, his reputation is not exactly spotless. Apparently, he’s been involved with a fair few companies in his time and he has left quite a lot of disappointed investors behind. A bit of research reveals that there have been some legal proceedings against him, articles on various websites, and even a blog, dedicated to Mr. Kristan’s misconducts.<\/p>\n

\"7MDDD.png\"Some of the allegations are quite serious and while we can’t be 100% sure that they are all founded, we reckon that keeping all the facts in mind and doing a lot of due diligence is absolutely crucial before making any investment decisions. People who overlooked the red flags surrounding Makism 3D Corp (OTCBB:MDDD<\/a>) got seriously burned yesterday when the ticker took another heavy blow and wiped out 40% of its value in just six and a half hours of trading.<\/p>\n","protected":false},"excerpt":{"rendered":"

Worldwide Internet (OTCMKTS:WNTR) got pumped back in July. Premier Equity Reports, The Stock Braniac, Penny Stock Crew and a few other, smaller promotional outfits sent more than twenty alerts over the email, but despite...<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[1120,929],"class_list":["post-3355","post","type-post","status-publish","format-standard","hentry","category-news","tag-mddd","tag-wntr"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/3355","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/comments?post=3355"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/3355\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=3355"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=3355"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=3355"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}