Seeking Alpha

WPCS -27.7% AH after FQ2 report, BTX Trader conference call

  • WPCS International (WPCS) shares plummet 27.7% AH on what appears to have been a trainwreck FQ2 report and BTX Trader acquisition conference call.
  • Interim CEO Sebastian Giordano: "While we cannot speculate as to the reasons for the unusually high volume of trading since the announcement, we believe that it may have been caused, in part, by the conversion of shares of convertible Notes." Several funds and individuals previously held $3.35M in convertible notes, with the company not disclosing on the conference call what amount of the debt had been converted.
Comments (8)
  • SoldHigh
    , contributor
    Comments (996) | Send Message
     
    Wow, this is still over a dime?
    19 Dec 2013, 07:04 PM Reply Like
  • Philip Marlowe
    , contributor
    Comments (918) | Send Message
     
    At 2.6m market cap this is essentially a penny stock. Much worse, it is a penny stock that cannot be shorted. I see absolutely no reason for SA to discuss this.
    19 Dec 2013, 07:29 PM Reply Like
  • scojack
    , contributor
    Comment (1) | Send Message
     
    If it so insignificant why post?
    20 Dec 2013, 08:23 AM Reply Like
  • Skills that make Mills
    , contributor
    Comments (31) | Send Message
     
    He has nothing better to do but come here and show us how wrong he could be. This stock is up almost 100% since his Dec 19th post.
    3 Jan, 12:55 PM Reply Like
  • ARNA Investor
    , contributor
    Comments (104) | Send Message
     
    UP we go boys. UP WE GO!
    20 Dec 2013, 06:45 AM Reply Like
  • piccaso
    , contributor
    Comments (104) | Send Message
     
    Friday Dec 20th 8K...
    As of the close of business on December 19, 2013, the Company had 5,711,848 shares of Common Stock deemed issued and outstanding.

     

    WPCS's acquisition of BTX Trader is a great move because Bitcoin is here to stay. This is a buy down here.
    20 Dec 2013, 12:08 PM Reply Like
  • piccaso
    , contributor
    Comments (104) | Send Message
     
    Oh ya and... and the second QTR fiscal was better then last years.

     

    For the second quarter of fiscal year 2014 ended October 31, 2013, WPCS reported a net loss of approximately $473,000 or $0.37 per diluted share. WPCS reported a net loss of $493,000 or $0.50 per diluted share for the same period one year ago.
    20 Dec 2013, 12:44 PM Reply Like
  • ARNA Investor
    , contributor
    Comments (104) | Send Message
     
    Insider share purchase on December 20th.
    The Snaketown Shakedown by shorts this week is a thing of the past.
    UP WE GO BOYS!
    21 Dec 2013, 06:31 AM Reply Like
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