Yesterday the stock price of Solarwindow Technologies Inc (OTCMKTS:WNDW) jumped more than 4%to close the trading session at $2.69. The gains came at a share volume of 166,259 compared to monthly average share volume of 342,632. On Wednesday, the stock failed to take a direction finishing the day absolutely flat at $2.58 per share. It appears that the stock is gaining some momentum to start its upward trend.
The performance
Solarwindow Technologies remains over-inflated with existing market cap of more than $68 million. Such massive valuation fails to justify the underlying fundamental. As per the financial report for the three month period ended May 31, the company posted $69,000 in cash. The net loss in quarter came at $1.5 million while revenue was $0. The total current liabilities stood at $2.4 million while total current assets came at $247,000.
The problems
For the first three quarter, Solarwindow posted net loss of over $6.3 million. The financial numbers are indeed discouraging and overall picture gets bleak when $1.45 million worth convertible promissory note are taken into account. Also, the report reveals issuance of 8.8 million warrants that can be exercised in a price range of $0.64 to $1.37.
The update
Despite all the problems, Solarwindow Technologies Inc (OTCMKTS:WNDW) reported that the company will host a webcast on August 20. Following the news, investors rushed in to buy the stock but to sheer disappointment the stock declined as the company’s presentation failed to impress market. The demonstration of company’s electricity generating coating turned out to be a boring pre-recorded video having little useful information.
Also, the commercialization plans failed to live the hype and forced investors away. As per the announcement, Solarwindow product will be launched sometime after two years. The lackluster financials and probability of massive dilution can pose a threat to investors’ value in coming period.
