Going “Old School”, Writers’ Group Film Corp. (WRIT) found its way to the inbox of penny stock traders nearly 15 months after the failed attempt by APS. On May 11, 2011 the infamous AwesomePennyStocks issued an alert on WRIT stock which lasted all of one-day, gaining 75% from 0.04 to 0.07 with over 200 million shares traded. Thursday’s revisit proves that you can’t kick a dead dog twice as the Company authorized with 20 Billion shares showed its “True Colors”.
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WRIT Stock Chart
Close: 0.002, down -0.001 (-33.333%)
Dollar Volume: $100,058
3 Month Average:
Dollar Volume: $4,826
With 543,078,645 shares outstanding as of July 5, 2012, the Company’s wholly-owned subsidiary, Front Row Networks Inc., a Los Angeles-based concert production and distribution company, is not going to light up the boards with their 3D live concerts productions any more than LDSI is going to break the bank with their BackstageVibe. Gone are the days when something with a Hollywood glow to it can make a penny stock shine.
About WRIT Stock
Writers’ Group Film Corp. acquired all of the outstanding shares of capital stock of Front Row Networks Inc. which is currently engaged in content creation to produce, acquire and distribute live concerts in three dimensional format for initial worldwide digital broadcast into digitally-enabled movie theaters and thereafter, licensed to DVD and Blu-Ray retailers, free TV broadcasters, cable and emerging 3D cable channels, and mobile streaming providers.
To view the SEC filings for WRIT, click here.
Bottom Line: WRIT stock was written off the list of penny stocks 15 months ago after AwesomePennyStocks desecrated on shareholders and traders giving it the 15 minutes of fame. Any chance of this coming back and actually producing is like expecting Charlie Chaplain and Mr. Bean to become the next SpiderMan and Incredible Hulk.
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