Having quietly branched over from being the developer of the AQUAtap™ Community Drinking Water Station and WEPSTM Atmospheric Water Extraction and Purification System and branched over to solar energy after acquiring a new patented high performance technology, no news was good news for Quest Water Global, Inc. (OTCQB: QWTR) on Tuesday. The inconsistent pattern of sporadic volume that appears every week or so on QWTR stock sprung the share price to a medium heartbeat, albeit just a couple thousand bucks at best, after just over 200,000 shares traded was able to spike the share price by over 60%. While it is just one of the subpenny stocks that hasn’t updated their filings or been updating the trading community for quite some time, it is but one of many that will be watched as the summer sessions continue to grind green gains.
The last time anyone heard from QWTR was back in February when the solar deal was announced claiming that the technology known as EM-CS is supposed to be able to provide substantially greater solar energy production and conversion efficiency than present photovoltaic products. Quest Water’s wholly-owned subsidiary Heliosource Inc. will, apparently, be the one responsible for taking the technology to the next step which the Company claimed would be done over the course of the next 6 months which makes August update time.
While a “prototype” is what Qwest Water promises to be fabricated and assembled so that a third party can validate the capabilities, Heliosource stated that a minimum of $500,000 was to have been raised by February 28, 2015 in order to get the job done. If this EM-CS thing really works (do they ever in OTC land?), another $6 million would need to be raised which makes assessing just how much QWTR shares there are out there difficult even though it would appear that the AS matched the OS which is 95,000,000.
Because Qwest Water has not filed since the three month period ended September 30, 2014, having to rely on old share data is sometimes a tricky risk assessment when considering to play QWTR stock. What we can see from the company’s last 10K filing is that, as of April 14, 2014, there were outstanding options to purchase 5,300,000 shares of QWTR stock at an exercise price of $0.19 per share until May 30, 2015 and outstanding warrants to purchase 3,056,500 shares as follows:
● 2,398,000 shares at an exercise price of $0.50 per share until January 6, 2015;
● 310,000 shares at an exercise price of $0.50 per share until February 10, 2015;
● 286,000 shares at an exercise price of $0.75 per share until July 15, 2015; and
● 62,500 shares at an exercise price of $0.65 per share until October 15, 2015.
Furthermore, of the 86,479,860 issued and outstanding shares as of the time of the K filing, 46,744,360 were deemed restricted under the Securities Act, ineligible resale absent registration or an exemption from registration. Being highly unlikely that any of those options or warrants were ever exercised at their stated prices, of the 95,000,000 shares authorized, 92,163,194 were deemed outstanding as of November 14, 2014 (their last Q filed).
So what it looks like is QWTR is completely liquidated in terms of being able to dilute their SS any further which could likely only be validated by contacting either John Balanko (Chairman, President, CEO with 18,775,000 shares owned as of the last K) or Peter Miele, VP, Secretary, Director with 19,175,000 shares owned as of the last K). If this really is the case and 43.9% of QWTR is restricted still, a pouring on of gains could come if just over 200,000 shares traded can move the share price +60%.
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