New energy technologies and the excitement surrounding the legal-marijuana business can trigger tremendous volume and share value increases for penny stocks, but once the hype wears off what goes up must come down.
Where’s the Beef?
On Mar 3, Well Power Inc.’s (OTCQB: WPWR) lost 28.29% of its share value with it stock closing at 59 cents, down 23 cents from the close of 82 cents the previous day.
Its stock volume continued to soar with 12,166,130 shares changing hands, nearly twice its three-month average volume of 6,823,671.
But it appears that investors are no longer enthralled with the potential of the Houston-based energy technology company’s newly licensed technology that it says enables oil and gas producers and operators to process otherwise wasted natural gas, including stranded, shut-in, flared and vented gas and produce valued end-products. These would include Engineered FuelTM (diesel, diluents, synthetic crude) and electrical power.
Lackluster News
Over the last 30 days Well Power has been issuing similar press releases titled “market updates” that offer nothing more than a rehash of its technology’s perceived potential less any specific deals or contracts, with one exception:
Appoints New President and Director
On Feb. 13, Well Power announced the appointment of Dan Patience as president and director of the company.
Patience currently serves as the president of Noble Investment Corp., a private company based in Calgary, Alberta that has been providing Investment Banking/Investor Relations Services to publicly listed Canadian and US Companies since 1994.
Patience has been involved in the investment Industry for 30 years, starting off his starting career in the brokerage business in 1984. He founded Noble Investment Corp. February of 1994 which has been involved in funding companies and guiding them toward public listings, as well as providing investor-relation services.
Old Financials
Well Power’s latest annual financial reported dated Aug. 31, 2013 shows the company lost about $20,000 during that period.
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Share Value Falls 14%
Meanwhile, Intelligent Living Inc. (OTCQB: ILIV) stock volume fell Mar. 3, with just 63,152,472 shares changing hand far below its surge Feb. 25 when 115,063,344 shares changed hands, nearly twice its average monthly volume of 71,103,570 shares.
In addition, the Miami-based developmental stage company that wants to produce various cannabis-based products, computer applications and nutritional supplements saw it share value fall by 14%, with its shares closing at 0.0086 cents, down 0.0014 cents from its close of 1 cent the previous day.
This downturn could be related to a Feb. 25 press release in which Intelligent Living attempted to explain to its shareholders why they shouldn’t expect to see anything concrete too soon:
“These processes take time to complete and are not immediately accretive to our balance sheet- rather take resources in manpower and time,” the release explains. “Our overall goal is to create a business that has multiple revenue streams and the ability to stand the test of time. We are adding businesses that are either core to our operations or fit into the eHealth and Wellness framework that we have established,” it added.
New Pillbox App
On Feb. 14, Intelligent Living announced its newest intelligent digital pillbox app, “apPill Box XL(TM),” which is now available for download to users of Android smartphones. The app reminds people to take their pill and gives them other directions their doctors may have included.
On Feb. 7 it issued a “clarification to shareholders concerning Intelligent Living’s Letter of Intent with Green Roads of Florida LLC”
Here’s a little bit more:
“As initially outlined as part of the roadmap for 2014 released late last year, this acquisition exhibits further execution of the ILIV strategy to unveil innovative products within our Core Operating Area (COA) of health and wellness products and is complementary to our earlier acquisition of drlarrydirect.com. This acquisition would clearly strengthen our position going forward to be a leading ecommerce retailer of health, wellness and alternative formulas. These natural bioactive CBD compounds have health promoting and medicinal properties. These two product lines are synergistic and complementary in nearly every respect.”
Nothing Solid
The problem with such press releases is that they are strong on intentions and potential, but short on specifics, such as: What specific products are you going to produce. Are there any orders? What is the time line for a product roll out?
Only time will tell.
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What Goes Up Must Come Down
Growlife Inc. (OTCBB: PHOT) share price has been on a downward journey lately.
The Woodland Hills, Calif. holding company that supplies equipment for legal marijuana growers hare volume and value initially rose Feb. 7 when Growlife announced that a majority of its stockholders preliminarily approved a provision that would allow the company to increase the number of its authorized shares of common stock from 1 billion to 3 billion.
Excitement Wearing Off
In the surprise announcement, Growlife also said the increase in shares does not “immediately dilute” the current issued and outstanding share count. The company also pointed out that the provision was approved by 88.2% of the shares entitled to vote on the sole proposed item.
Some industry experts contend this move will give Growlife the money it needs for expansion. Others are puzzled by the action and are not sure what effect it might have long term on the company’s current shareholders.
But lately, the excitement about GrowLife is barely registering.
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Developing Various Cannabis-Related Markets
Even so, Growlife has been positioning itself in the medical marijuana industry by developing various markets and deploying new products and services in them for months.
For example, one of its recently acquired companies makes hydroponic grow containers, which are designed to grow vegetables, herbs, flowers and fruits in any environment. The company appears to be vigorously considering every possible angle and service to capture its piece of the legal cannabis pie.
On Jan. 31, Growlife announced that it had entered into a strategic partnership with RXNB Inc. by purchasing a 40% equity stake in the company. Growlife plans to distribute RXNB ‘s proprietary technologies globally and share profits related to technology licensing, subject to the approval of the GrowLife its board.
RXNB is an investment company with holdings in drug formulation, manufacturing, and distribution. The company represents a recent roll-up of several independent companies in the pharmaceutical and nutraceutical market. RXNB has numerous pending patents in the field of THC research and development. RXNB has a portfolio valuation of $110 million dollars and approximately $27.5 million dollars in annual revenue.
On Mar. 3, PHOT shares closed at 35 cents down 2 cents from its closing price of 37 cents the previous day.
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iTalk Inc. (OTCQB: TALK) sells wireless technology and cellphone services to companies.
There has been a self-imposed news blackout on the company, which hasn’t issued a press release since Oct. 22, 2013 when iTalk announced the appointment of Robert Thorell as its new president.
Its last annual financial report filed Aug. 31, 2013 showed that the company lost about $655,000 for that period.
On Feb 26 TALK shares closed at 6 cents unchanged from its closing price the previous day.
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