Water Technologies (OTC: WTII) recorded an impressive 42.5% rise to conclude the Friday session at $0.0114. Over the last week, the performance of WTII stock was 50.00% compared to its monthly performance of 29.55%. Water Technologies stock rose following the filing of quarterly results at the SEC on March 18, 2021.
What revealed the financial results?
Atmospheric Water Generators (AWG) are manufactured and distributed by Water Technologies as well as its subsidiaries. GR8 Water, Inc. (Great Water) and Aqua Pure International, Inc. (Specializing in Filtration Systems) are wholly-owned subsidiaries of WTII. This patent-pending technology produces great-tasting, safe water from humidity in the air using a unique air purification input system.
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In addition to producing water for the home or office, GR8 Water has large, industrial-sized water units that can each produce thousands of gallons of water from ambient air each day. With GR8 Water, everyone on the planet will be able to access safe drinking water, thus improving the quality of life, while also taking care of the planet. Patents issued by the USPTO and additional patents filed with the USTPO cover WTII’s technologies. WTII has also applied for global patent protection via the Patent Cooperation Treaty. “Water village” is its trademark, which is registered at the USPTO.
Water Technologies on Thursday, filed its unaudited financial statement with the SEC for the quarter ended March 31, 2020.
- Revenue for the reported quarter rose to $377,133 from that of $339,825 in the same quarter a year ago representing a rise of almost 11%.
- That translated a gross profit of $235,346 with a rise of 156% for WTII for the March 2020 quarter against a gross profit of $91,768 in the corresponding quarter of the previous year.
- For the quarter, net loss for WTII came at $1,116,915 while it was a profit of $204,120 in the same quarter a year ago.
- Per share loss of less than $0.01 by Water Technologies (WTII) for the quarter was flat with the same in a year-ago quarter.