They say if you live long enough, you’ll live to see everything. While to jury is still hung on if the Cubs will ever win another World Series, Psycho’s $400K alert on CoroWare, Inc. (OTC: COWI) didn’t follow the traditional path of previous penny stock alerts. An open under Friday’s close, a chart pattern which looks like a multi-day play, and news issued within the last 12 months. It’s not a cold day in hell according to the thermometer reading, but COWI stock is heating up as we approach the middle of the session and looking pretty damn good — for Asher.
Our Next Pick Is Coming Soon! Click HERE To Make Sure You Don’t Miss Any Of Our Breaking Alerts!
COWI Stock Chart
Market Cap: 612.20K
Last: 0.0028 ▲ 0.0017 (154.55%)
Dollar Volume: $485,454
Issued and Outstanding: 211,102,389
Looking for Hot Penny Stocks?
Click here To Receive FREE Penny Stock Alerts
As of September 30, 2012, CoroWare had $2,426,515 worth of convertible debt on their books, much of which was due to the a name penny stock traders have learned to run from – Asher Enterprises. As of November 16, 2012, the Company issued 33,541,219 shares subsequent to September 30, 2012 in connection with redemptions of convertible debentures and 75,747,019 shares for services. This is not a good sign for a penny stock you want to be holding on to after the closing bell.
Traders have been bitten more than once in the past from COWI stock. One professional trader stated that “COWI gives dilution a new name.” How could that be? There are only 3 billion shares authorized.
Last month, CoroWare Technologies, a wholly owned subsidiary of CoroWare, made it public that their Accumulus® and Vidyo™ were ready to rock-n-roll for conference service providers offering a highly scalable and affordable cloud-based billing solution. With current assets as of September 30, 2012 of $240,368 and current liabilities of $18,471,226, there had better be an Accumulus and Vidyo in every single available location if CoroWare’s COWI is ever going to be above a penny ever again.
About COWI Stock
CoroWare, Inc is a holding company whose principal subsidiary, CoroWare Technologies, Inc., has expertise in information technology consulting, mobile robotics, and affordable telepresence. Click here to view the SEC filings for COWI.
Last 4 Trading Sessions:
Bottom Line: Hats off to Psycho for no gap up open off his $400k penny stock alert on COWI. Based on how COWI stock has traded in recent weeks, there may be a play carry forward to Tuesday just like the Cubs have a great chance of winning the 2013 pennant— the risk just isn’t worth the gamble.
Here is your opportunity to subscribe to the Most Read Penny Stock Newsletter
If You Can’t Make Money With Us, You Shouldn’t Be Trading Penny Stocks
(We are 100% Anti-Spam and will never rent or sell your information)Share