October begins with one particular Pinksheet listed penny stock, WellQuest Medical & Wellness Corporation (WEQL), targeted for some possible promo action. After delivering a letter to their shareholders in August outlining the Company’s achievements, WEQL stock hit a 52 week high Friday and loaded its shares onto the market, roughly 10% of the float. With revenues of $2.05 million and net income of $295,900 from their flagship health and wellness center in Bentonville, Arkansas, was Friday a glitch or a pre-promotion?
Click HERE To Make Sure You Don’t Miss Any Of Our Breaking Alerts!
WEQL Stock Chart
Market Cap: 2.05M
Close: 0.07, up 0.06 (600.00%)
Volume: 536,640
Dollar Volume: $22,570
High: 0.07
Low: 0.015
Trades: 60
Average Trade Size: 8,944
Authorized: 150,000,000
Issued and Outstanding: 32,118,659
Float: 5,766,608
Looking for Hot Penny Stocks?
Click here and get Alerts on the Best Penny Stocks FREE
First of all, Wellquest’s WEQL never really traded until Friday which is very important to know.
Secondly, on August 14, 2012 WellQuest Medical & Wellness Corporation filed its 2nd Quarter Report which, for the six months ended June 30, 2012, showed the Company’s Bentonville site posting operating net revenue of $2,053,492 and net income of $295,900. Consolidated Operating net income of the Company was $13,600 which included expenditures of $45,711 toward development of a planned future site in Tulsa, Oklahoma scheduled for opening in 2013.
The catalyst to WEQL going forward is that, during Q2, members of the BoD and affiliates of the Company took decisive actions toward strengthening the stability and on-going operations of WellQuest. They wrote off $192,610 of deferred compensation, forgave $696,510 of debt and accrued interest and converted $247,397 of debt and other payables to stock. The result was $889,120 recognized as other income during Q2. With their re-structured debt and payables into long-term loans, the combination should yield reduced interest expenses which will improve cash flows as they expand into Tulsa with their planned opening of a second health and wellness center.
About WEQL Stock
WellQuest offers its innovative concept in healthcare delivery by integrating conventional and complementary physician medicine with wellness, and aesthetic services in one center, creating an effective environment for the pursuit and maintenance of a healthy life. They operate 7 days a week and have Board Certified Physicians available from:
8am-8pm; Mon – Sat
12pm-6pm; Sunday
Furthermore, WellQuest accepts most insurance, just like any other practice or hospital would.
Bottom Line: WEQL surely spiked the curiosity of penny stock traders who weren’t chasing the tail of SANP on Friday. Add WEQL to your list of penny stocks to watch to see what happens during the first week or so of October. If trading volume is consistent, look for a wellness play for a free lunch.
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)
ShareSEP
