The positive impact of the news that WINDSTREAM TECHNOLOG (OTCMKTS:WSTI) has made an entry into The Bahamas through the installation of TowerMill is long gone. That leaves the company to act like any other penny stock, which has little in its hands to control. Moreover, the dilapidated financial scenario of the company too poses a threat on its future.

Low on financials

As per the most recent financial report, which was published on September 30, 2014, WINDSTREAM TECHNOLOG (OTCMKTS:WSTI) maintained a meager cash balance of $273,000. The current assets worth $2.6 million are just half of $5.5 million current liabilities. Revenues as low as $373,000 while losses as high as $1.4 million raises sustainability questions. While the said numbers were published nearly more than six months ago, it is expected that the company will not be too late in filing its 10-K, which is already delayed.

The direction

As understood, a delay in filing 10-K leads to nothing but suspicion, it is expected that WINDSTREAM TECHNOLOG (OTCMKTS:WSTI) will be quick enough to come up with the numbers soon. For WINDSTREAM TECHNOLOG (OTCMKTS:WSTI), a release of 10-K will set the direction of its movement on the exchange, which might either get ugly or improve. However, there is a little hint from the company that improvement has taken place, which point out to the likeliness of things getting worse from here on.

Earlier in a bid to control the situation, the company informed that it has initiated a pilot project in The Bahamas by deploying its TowerMill in the region. The company noted that the said TowerMill will enable telecommunication companies to deliver uninterrupted services to their customers. The TowerMill will offer itself as a cheap alternative to diesel and fuel through the use of the combination of wind and solar energy. While the effort sounds great but it failed to excite the investors beyond a certain extent.

The stock of WINDSTREAM TECHNOLOG (OTCMKTS:WSTI) fell by nearly 16% to $0.210 on Monday, when 1.23 million shares changed hands.