Penny stock traders got a chance today to tap into the the $62 Billion coffee and tea market of the U.S. after Crio, Inc. (WILS) I.P.O.’d today thanks to a reverse merger agreement with Wiless Controls Inc. Built around a revolutionary new product created by Dr. Eric Durtschi, brewed cocoa, shares of WILS stock percolated on the news that the “the drink of the gods” produced by this small startup from Utah was no longer a private company. Although the volume might not look like Crio Bru is the next coming of Starbucks Corporation (SBUX) at a fraction of the cost, once the reports start filtering just how few shares there are since 75% was acquired by Crio shareholders, going kookoo for cacao could be huge hit this summer had it not been for existing debt owed to Asher Enterprises.
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WILS Stock Quote
Market Cap: 3.31M
Last: 0.05 ▲ +0.026 (+108.33%)
Dollar Volume: $32,688
14-Day RSI: 70.17%
1st Resistance Point: 0.0633
1st Support Level: 0.0223
52Wk High: 0.065
52Wk Low: 0.0014
Crio comes to the OTC with some pretty strong news backing it up. The maker of the new Crio Brü brewed cocoa won First Place and Crowd Favorite with $110,500 in cash and prizes back in a Utah-only based company competition back in 2012 that combined elements of “American Idol” with “Shark Tank” for the top candidates to pitch their innovative businesses to a capacity audience and panel of celebrity judges.
Also on their website, the Company mentions how Carmen Electra and other stars have discovered Crio Bru which is about as sexy an endorsement as was Jennifer Lopez’s grasping of a Koma Unwind which BeBevCo (BBDA) still uses today to help try to create brand awareness for their products. The $57,000 investment in a custom cocoa grinder that can produce up to 2000 lbs. per hour surely helped Crio succeed to the level which we all hope to soon discover once financial details are provided with the SEC.
Crio going public into the publicly traded entity Wiless Controls squatted on after being created back in 2009 by The Law Office of Conrad C. Lysiak, P.S. when it was called Montreal Services Company, prior to being iMetrik M2M Solutions Inc., can be looked at as a solid opportunity. Sure, there was $1,442,534 in liabilities on the books for Wiless Controls as of February 28, 2014, but even though Asher Enterprises Inc. had $85,500 worth of convertible note payables that they still are likely to be dumping into the Crio news, just because they already had 1,445,783 shares of WILS stock at a cost basis of 0.008 converted prior to February 28, 2014, they will eventually dump out of them like they always do.
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About WILS Stock
Crio, Inc., fka Wiless Controls Inc., is a development stage company that offers unique and healthy chocolate products like Crio Brü, Crio Beans and Crio Cocoa.
Issued and Outstanding: ?
CRIO Shareholders: 112,500,000
Last 5 Trading Sessions:
Seeing Asher Enterprises in the most recent filings all but assures that WILS can be on nothing more than the list of penny stocks to watch. It’s sad to see them there, but today’s volume which was significantly higher than the 30 Day Average Volume, 88,296, is a strong enough indicator to put WILS stock on many radar screens. Similar to HJOE, it may be quite some time before Asher can no longer stop the buzz that is sure to generate around Crio. Entries are best left for when the share price has dipped below the current support level.