World Assurance Group, Inc. (OTCMKTS:WDAS) Pushes Further Up

7WDAS_chart.pngUntil not so long ago, World Assurance Group, Inc. (OTCMKTS:WDAS) was traded in triple zero land. Then, in the beginning of last month the stock suddenly exploded after a full “refurbishment” of the management team.

It began sliding after the initial jumps, but started to climb back up and by now the ticker has gained around 8400% in just a little less than a month of trading. Of course, there are constant press releases keeping the hype alive and we see that the volumes of traded stock have began to rise again.

The most interesting news lately were from yesterday, when the company issued two new PR’s. In one of them they claimed that they have made gross revenues of $3.6 million in Q1 this year. Still, the whole report will be available “on or before” May 15 and will show if the company is actually working on a profit, after all the expenses subtracted from the revenue.

The other press release was about the completed acquisition of World Global Assets Pte Ltd, a company which was previously controlled by WDAS‘s new CEO and Chairman, Fabio Galdi, with the idea of boadening the company’s licensing portfolio.

206LOGO.pngEarly today, there were more exciting news coming from the company as a press release stated that WDAS has added 2 new solap power plants to its license agreement, which will be located in Japan and have generated $750 thousand in initial license revenue, so the hopes of investors were raised once again.

Everybody is surely hoping for some profitability, because WDAS‘s quarterly report covering the period ended September 30, 2013 had little to show.

 

  • cash: $0
  • acurrent assets: $0
  • total liabilities: $234 thousand
  • revenues: $0
  • net loss: $278 thousand

 

Still, the company stock is doing great with all the optimistic news lately and added another 46% to its value yesterday on double its average volume. The hefty 19 million shares that changed their owners during the session managed to generate some $908 thousand in trade value.

Unfortunately, it is still unsure how successful the company might get and there is no hard proof at the present moment. Everything will surely become clearer when we see some audited financials.

Until then, be sure to do your due diligence and weigh out the risks.

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