Alkaline Water Company (WTER) NASDAQ Delisting Case

On February 5, 2024, Alkaline Water (WTER) announced its delisting from NASDAQ. 
On it, $WTER fell 99% over 3 days. 
Investors may have grounds to suspect Alkaline Water of hiding the extent of its financial setbacks which led to their losses.
On February 5, 2024, Alkaline Water Company Inc. (WTER) announced a Change of Listing from NASDAQ to OTC. The Change of Listing is expected to be completed on February 6, 2024. This announcement follows several years of negative operational and financial trends:
Annual net losses and negative cash flow from operations,
50% decline of gross margin between 2021 and 2022, 
Proceeds from the sale of stock as the major source of financing, 
Chairman and President/CEO both resigning in January 2024.
As a result $WTER steadily trending down since August 2021.

On this news, $WTER declined 99% over 3 days and lost over $3.4 million of its market capitalization, seriously damaging shareholders.

Considering all the facts, investors might have grounds to suspect Alkaline Water of failing to timely disclose its severe financial setbacks, which led to their losses.

Case Status

Attorney Investigation

Alleged Offence

Misleading Statements,

Financial Misrepresentation,

Failure to Disclose,

Omissions

Suspected Party

Directors,

Management

Security Type

Stocks

Trade Direction

Long

Shock Event Date

02/07/2024

Alkaline Water Company (WTER) NASDAQ Delisting Case

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