{"id":4654,"date":"2014-05-26T15:14:05","date_gmt":"2014-05-26T15:14:05","guid":{"rendered":"\/?p=4654"},"modified":"2014-05-26T15:19:59","modified_gmt":"2014-05-26T15:19:59","slug":"well-power-inc-otcmktswpwr-crashes-before-the-weekend","status":"publish","type":"post","link":"\/articles\/well-power-inc-otcmktswpwr-crashes-before-the-weekend\/","title":{"rendered":"Well Power, Inc. (OTCMKTS:WPWR) Crashes Before The Weekend"},"content":{"rendered":"

\"WPWRchart3.png\"It seems that the artificial hype that managed to lift the stock of Well Power, Inc. (OTCMKTS:WPWR<\/a>) lost its power and on Friday the company crashed by more than 17% closing at $0.167. Although the 4,1 million traded shares were just half of the amount from the previous session they still resulted in a dollar value of $726 thousand putting WPWR<\/a><\/strong> among the most traded pennystocks. <\/p>\n

Just a few months ago WPWR<\/a><\/strong> were touted by the infamous pumper<\/em> StockTips who received more than $4 million for their service. Even though on April 10 they moved on to their next pick the pump for WPPR<\/strong> is being kept alive by countless smaller pump outfits<\/em> despite the company losing more than 80% of its value. The last email alert was sent by Penny Stocks Forever who bagged the disclosed compensation of $9000. <\/div>\n
We warned our readers that all of the red flags around the company are still there. WPWR<\/a><\/strong> do not actually own the technology they have been talking about in their PR. They have entered into a licensing and distribution agreement with the company manufacturing the Micro Refinery Units for the state of Texas. In order to keep the licensing rights WPWR<\/a> <\/strong>had to pay $400 thousand in two installments – $100 thousand and $300 thousand. For now only the first payment has been announced as completed. In addition the company will have to buy at least to MRUs, each valued at $800 thousand, by the end of the year.
At the same time according to the latest quarterly report at the end of January the company had:<\/div>\n
• cash: $20 thousand
• current assets: $30 thousand
• current liabilities: $564 thousand
• no revenue since inception
• quarterly net loss: $33 thousand<\/div>\n
The poor financial state is not the only problem though. Investors have to also keep in mind that back in 2007 925 thousand shares were sold at just $0.02 each. Due to the 50-for-1 forward split performed just a few months ago that number \"7FRTDchart.png\"turned into 48 million extremely cheap shares that could bring millions to their owners. <\/div>\n
Friday also marked the sixth potstock suspended by the SEC in the past three months. This time the Commission stopped the stock of Fortitude Group Inc, Inc (OTCMKTS:FRTD<\/a>) from trading due to “lack of current and accurate information”. The company will resume trading on June 9 on the Grey Market and will most likely suffer a massive drop in share price. <\/div>\n","protected":false},"excerpt":{"rendered":"

It seems that the artificial hype that managed to lift the stock of Well Power, Inc. (OTCMKTS:WPWR) lost its power and on Friday the company crashed by more than 17% closing at $0.167. Although...<\/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":[1274,1246],"class_list":["post-4654","post","type-post","status-publish","format-standard","hentry","category-news","tag-frtd","tag-wpwr"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/4654","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=4654"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/4654\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=4654"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=4654"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=4654"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}