{"id":6643,"date":"2015-08-25T15:13:47","date_gmt":"2015-08-25T15:13:47","guid":{"rendered":"\/?p=6643"},"modified":"2015-08-25T15:39:29","modified_gmt":"2015-08-25T15:39:29","slug":"one-world-holdings-inc-otcmktsowoo-standing-tall-again","status":"publish","type":"post","link":"\/articles\/one-world-holdings-inc-otcmktsowoo-standing-tall-again\/","title":{"rendered":"One World Holdings Inc (OTCMKTS:OWOO) Standing Tall Again"},"content":{"rendered":"\n

In July, One World Holdings Inc (OTCMKTS:OWOO<\/a>)’s CEO, Corinda Joanne Melton, said in a letter to the shareholders that the company is looking for ways of eliminating debt and cutting ties with the funders who have been “aggressively selling<\/em>” their shares on the open market. Some of the long-term shareholders probably had a deja vu moment. <\/p>\n

Back in December 2013, Ms. Melton issued a remarkably similar letter to the shareholders. She said that the growing sales have allowed OWOO<\/a><\/strong> to start work on eliminating convertible debt and implementing a share repurchase program.<\/p>\n

Instead of doing that, Ms. Melton and the rest of the management team informed their shareholders a few months later that they are about to go through a 1 for 750 reverse split<\/strong>.<\/p>\n

The “growing sales<\/em>” part of Ms. Melton’s 2013 shareholder letter also raises a few question marks. There was indeed an increase, but the revenues peaked at $75 thousand for the fourth quarter of last year and they’ve been tumbling down since then. A trend that was confirmed ten days ago when OWOO<\/a><\/strong> filed its 10-Q for the second quarter of 2015. Here’s what the company reported:<\/p>\n