Maxing out all of its authorized shares for the most part, the penny stock of Pacific WebWorks, Inc. (PWEB) has gone Psycho today as it tries its hardest to get above a dime. Having not seen the likes of .09 since the start of 2011, PWEB stock is getting its day in the spotlight one month after setting a 52 week high at 0.059. Offering up its website services to small to mid-sized businesses, declining sales in 2012 had a huge effect on the share price, but 2013 has looked better and 2011 numbers could be tested if they keep up the pace.
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PWEB Stock Quote
Market Cap: 2.34M
Last: 0.053 ▲ +0.0345 (+186.49%)
Dollar Volume: $161,308
Issued and Outstanding: 49,713,895
1st Resistance Point: 0.0617
1st Support Level: 0.0252
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A good website says alot about a Company to its client base and Pacific WebWorks has been perfecting the service of providing internet application services to small to mid-sized businesses to establish a business presence on the internet since 1999. Being around almost since the internet began has not, however, been the gains for shareholders of PWEB stock that other internet application providers have put up for their shareholders.
Last year was not a banner year for Pacific WebWorks after they booked just $1,082,381 through their web of 4,000 active customer accounts as compared to $1,701,657 during 2011. Gross profit for 2012 was nearly half of that for 2011 which is why ,since Q1 of 2011, PWEB stock has been trending downwards from a high of .09 to as low as 0.001 in October, 2012.
Heading into 2013 with declining revenues for their hosting, gateway and maintenance fees, Q1 looked even worse for the long-term investor after revenues came in at $177,514 compared to $323,760 for the same period in 2012. On the bright side, the Company’s products are starting to bring in some money, $49,608, but overall, it’s still not looking like survival will come without issuing debt and eventually considering to either reverse-split PWEB, or increase the total number of authorized shares.
When you consider that the Company’s CEO, K. Lance Bell, and their Secretary, Tanner J Purser, each own less than 1% of PWEB stock (195,075 and 63,365, respectively, as per the 10-K filing for the year ended December 31, 2012, its hard to think that a severe “syntax error” is no going to interrupt the gain flow traders have been experiencing this month if they get stuck in PWEB for too long today.
About PWEB Stock
Pacific WebWorks, Inc. is an application service provider and software development firm that develops business software technologies and services for business merchants and organizations using Internet and other technologies. We spe
Click here to view the SEC filings for PWEB.
Click here to view the website for Pacific WebWorks.
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Still far off the pace of 2012, Psycho’s penny stock pick for today, PWEB, is sure to leave cobwebs in the gain column for anyone in after 9:31 AM. If you’re thinking a return to .05 is coming, plan on watching the Marlins win their 3rd World Series in franchise history before that happens. PWEB stock has .01 written all over it.
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