U.S.-based China manufacturing company Worldwide Energy & Manufacturing USA, Inc. (WEMU.OB)specializes in products for customers in the industries of solar energy, aerospace, wireless telecommunications, medical equipment and automotive industries. In the middle of April, WEMU filed the 8-K form in which it announced that five new members were appointing the Board of Directors. To my great surprise, only a month later the public release on this announcement was made. It is really interesting why this event has been postponed so much.
In addition, Worldwide Energy & Manufacturing USA paid $2,500 and 800 shares of rule 144 stock to Red Chip Companies. However, the stock price of $5 per share does not reflect the financial situation of the company. Here are some things one should know about WEMU:
·According to the results of Q4, there is more than enough money to pay all the bills.
·Operational income has increased by almost 80% if March 2008 and December 2008 are compared.
·The company has a long-term debt of $997,000.
·After counting the earnings per share ratio in four quarters of 2008, it is seen that the company’s performance is going south.
Although the positive evaluation of the company is present, the debt, stock promotion as well as the company’s performance should not be excluded in case you are considering the investment opportunity.