Yesterday, the share price of Wanderport Corp. (PINK:WDRP) tanked already at market open and fell through the support level established in the middle of September. Early in the morning, the company announced that it is postponing the planned presentation of its “revolutionary” multi-cavity microwave heating unit. 
WDRP closed then the session 27% lower than on Friday at $0.0219, and during the day the share price fell even to $0.0165. The trading volume was the heaviest for the past six months with almost 16.5 million traded shares, showing true investor disappointment of their inability to have a look at the long expected innovation that WDRP was about to present.
Although the company scheduled an alternative date and location for the shareholder meeting on which
the “revolutionary” product should get finally unveiled, it looks like traders got suspicious yesterday and would not be willing to wait until October 25, the new presentation date, to get some news from the company that according to its filing has this technology since 2005.
Another fact that should make traders suspicious is that Wanderport Corp. is currently not making any filing to the SEC. Its latest quarter report is published on OTC Markets home page and it does not mention that WDRP is ready to launch any marketable product soon. The report says only that a prototype has been produced so far that has “significantly surpassed” management expectations.
Also evident from the report is that the scheduled and postponed meeting would have been important for the company’s future funding as WDRP definitely needs additional investments if it is to develop a product any time. At the end of June 2011, the company has liquid assets of only $42,000 ($62,000 in total assets) and liabilities for $517,000 ($497,000 in current liabilities).
