Boreal Water Collect (OTCMKTS:BRWC) Searches For Rock Bottom
Boreal Water Collect (OTCMKTS:BRWC) managed to lose another 1.11% during Friday’s session, heading further and further into triple zero land.
Although the dollar volume wasn’t particularly heavy, there is no way to deny it now – BRWC‘s latest red run does not look like it is going to be just another dip into triple zero waters.
The ticker seems like BRWC is headed down for good, and if something doesn’t happen in the next few days we may yet see it completely fade to obscurity in the murk of quadruple zero territory.
As we’ve said on multiple occasions before, this turn of events wasn’t exactly difficult to foresee. The company’s financials were never exactly stellar:
- Cash – $125 thousand
- Total current assets – $542 thousand
- Total current liabilities – $2.3 million
- Sales – $531 million
- Net loss – $301 thousand
Furthermore, most of that $2.3 million listed as “liabilities” consists of toxic convertibles with horrendous discounts, under the conditions of which hundreds of millions of dirt cheap shares have already been issued.
As with all pinksheets penny stocks, it is very difficult to track exactly how many BRWC shares get converted and dumped on the market at any given point in time, but the charts look grim enough to safely assume that there is a lot of dumping going on.
Further proof of the effect of the company’s toxic financing is the fact that BRWC stock has been diluted 488% in the last six months alone.
Investors should really take that into consideration when dealing with BRWC.