If you are looking to make another investment in a stock that has great potential for future growth you might want to consider our penny stock pick of the week. Well Power Incorporated (WPWR) is our choice.
This company formerly known as Vortec Electronics, Inc. is based in Kuala Lumpur Malaysia. As of January 2014 the company changed its name to Well Power, Inc. One focus of the company at present is to design, develop, manufacture and sell an automated frying wok. It will be used as an automatic fried rice cooker for commercial applications.
The company was founded in 2007 but the company’s fortunes have dramatically changed with the advent of this new product. WPWR will be selling this appliance along with other products to restaurants, grocery stores and dining halls throughout China.
The stock was priced at .51 cents at the close of the market on February 24, 2014. It increased 10 cents on Monday a 24.39% increase. During the day it had peaked at 0.62 with a volume of 10,043,355 shares. The average volume for the past 3 months was 1,559,431 shares. Market capitalization of the company stands at $54.8 million.
It is important to mention that it has a competitor in AWG International Wa. (AWGI). It also must be noted that the company did not have any real revenue and that its profit margin was in negative territory last year. The stock price remained below 0.25 for the year 2013.
The company has also entered into an exclusive license and distribution agreement with ME Resource Corporation (MEC). This company is a Canadian publicly listed entity. Under the agreement which is renewable after 5 years WPWR will be the exclusive distributor of Wellhead Micro-Refinery Units. Beginning with the state of Texas and possibly in the future other geographic areas as well.
The MRU technology relates to a method and apparatus, which through the use of catalysts will produce chemicals and energy. The goal of the company is to provide an economical solution to utilize wasted gas resources. The hope is to provide energy for remote power and fuel generation while reducing greenhouse gas emissions.
This will allow the company to position itself as a technology company in the energy sector. This is why this organization has tremendous potential and therefore would make for a sound investment at this time.