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WTER.US
id: 1134

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.
Alleged Offence
Misleading Statements
Financial Misrepresentation
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
07 February 2024
Collecting participants…

Alkaline Water Company Inc

The Alkaline Water Company Inc. produces, distributes, and markets bottled alkaline water in the United States. The company also offers bottled alkaline water in various volumes under the Alkaline8...

    Ticker
    WTER.US
    ISIN
    US01643A2078
    CIK
    764839
    Sector
    Consumer Defensive
    Industry
    Beverages - Non-Alcoholic
    Country
    USA
    Address
    8541 East Anderson Drive, Scottsdale, AZ, United States, 85255