FutureWorld Corp (OTCMKTS:FWDG)‘s situation failed to turnaround even on Friday as the stock extended its fall on the day. There has been no information published by the company except its announcement related to FutureLand Properties LLC, which it intends to spin-off in another listed company.
Financial difficulties posing challenge
The stock momentum of FutureWorld Corp (OTCMKTS:FWDG) seems to be on right trajectory given the financial difficulties that encompasses it. As per the most recent financial report dated December 31, 2014, the company cash balance is limited to $150,000 while its current assets stood at $732,000. Moreover, current liabilities of $2.04 million couple with the quarterly net loss of $167,000 pose a challenge on the company’s sustainability. Also, company’s revenues of $362,000 during the last quarter were contributed mainly by its subsidiaries, which are about to part away from the company now.
FutureWorld Corp (OTCMKTS:FWDG)’s most recent press note said that the company will split-up its subsidiary, Future Land Properties. At the same time, the company garnered attention from the investors’ by announcing that it will allot shares of the said spun-off company in the form of dividends in the ratio of 1:1000. In this way, FutureWorld Corp (OTCMKTS:FWDG) showed a simple route to its investors to automatically become a shareholder of another penny stock called Future Land, which has not yet been listed. The said press release helped the company to gain instant and massive attention from the shareholders. But, such momentum lasted for only a few days.
The shareholders are waiting to hear something more meaningful from the company now. The scarcity of their patience reflected in the company’s stock, which was crushed in the last trading session. FutureWorld Corp (OTCMKTS:FWDG)’s stock price settled at $0.00330, reflecting a decline of 30%. An average of 26.48 million shares traded on the day.