BOREAL WATER COLLECT (OTCMKTS:BRWC)’s southbound journey appears to be no closer to end as its stock extended the previous week’s fall to the new week. The stock in triple zero levels is likely to enter quadruple zero land if there is no immediate announcement from the company to contain its fall. Even the company’s recent announcement indicating that its Baby water will be sold across 300 supermarkets in China failed to ignite hope among investors.
In a press release posted last week, BOREAL WATER COLLECT (OTCMKTS:BRWC) notified that its client CR Vanguard will sell the company’s Baby Water across 300 supermarkets in China. The company’s CEO Francine Lavoie said that the rapid development taking place in China’s economy has led to per capita growth, as a result of which, people are increasingly pursuing an improved living standard as well as quality of life. Also, the increased awareness towards health and safety has led to an increased demand in safe drinking water.
BOREAL WATER COLLECT (OTCMKTS:BRWC) reported that China’s high-end drinking water market was worth 1.5 billion dollars in 2012 and has been growing at a pace of 20% every year. Meanwhile, the company has also announced its plans to participate at the International High-end Drinking Water Expo in Guangzhou China during June 4 to 6, 2015. Guangzhou is China’s economic and trading center and being adjacent to Macao, Hong Kong, Taiwan and South Asia is considered as a notable economic power.
Despite the series of announcements, BOREAL WATER COLLECT (OTCMKTS:BRWC) cannot cover up its financial abnormalities that remain exposed in its reports. The company maintains a cash balance of as little as $125,000 and its current assets are recorded at $542,000. The total current liabilities of the company stood at $2.3 million while the net loss accruing to the company amounts to $301,000.
The stock of BOREAL WATER COLLECT (OTCMKTS:BRWC) closed 11% down at $0.00080 on Monday, when 83.37 million shares changed hands.