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Yesterday investors shifted over 570 thousand of the shares of Alkaline Water Company Inc (OTCMKTS:WTER<\/a>). The increase was staggering – yesterday’s volume was over 10 times higher the than volume for the previous session and over 17 times higher than the monthly average. The intense buying pushed the stock to a close 12.12% in the green at $1.85 per share.<\/p>\n It seems that the torrent of PRs that has been coming from WTER<\/a> <\/strong>is starting to get investors excited. In around a month the company has announced receiving its first purchase order from Costco, entering into a direct to store distribution agreement with General Distributors Inc., and the expansion into Albertsons-affiliated Tom Thumb Food and Pharmacy Stores. The PR that most likely sparked yesterday’s chart climb came after the end of Tuesday’s trading and talked about WTER<\/a>‘s <\/strong>co-packing agreement with Texas-based CForce Bottling, a company that is “owned and operated by businesswoman and majority owner Gena Norris in partnership with her noted husband Chuck”.<\/p>\n Not to mention that earlier this month WTER<\/a> <\/strong>reported record revenues of over $1 million for the month of March and over $2 million for the quarter. The company expects its revenues for the fiscal year ended March 31, 2016 to exceed $7 million. For a pennystock achieving such results is no small feat but WTER<\/a> <\/strong>expect to do even better in the future – for 2017 they project an increase in revenues of over 100% to $18 million. Is this a realistic goal, though? Keep in mind that the company actually failed to meet its target earnings goals for the 2015-2016 fiscal year as well as falling short of their $10 million sales forecast.<\/p>\n WTER<\/a> <\/strong>finished the quarter ended December 31, 2015, with rather limited cash reserves of $110 thousand and a sizable working capital deficit of over $1.7 million. On March 23, however, they completed a $2.97 million securities offering which provided a much needed boost to their financials. There is one huge red flag though – in order to raise the money WTER<\/a> <\/strong>sold 9 million shares priced at $0.33 each and warrants for the purchase of 4.5 million shares with an exercise price of $0.50. As result of the issuance of so many shares WTER<\/a>‘s<\/strong> outstanding shares more than doubled – from 5.7 million as of February 22 to 14.7 million following the offering.<\/p>\n