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World Media & Technology Corp (OTCMKTS:WRMT) Explodes Up The Charts

World Media & Technology Corp (OTCMKTS:WRMT) has quickly emerged as one of the best performers on the OTC markets. The stock has exploded up the charts from $.08 to $7.99 last week. This comes as investors are getting excited about its HELO wristbands and the company’s goal of becoming the next Fitbit (NYSE:FIT).

WRMT is a spinoff of Power Clouds Inc (OTCMKTS:PWCL). PWCL shareholders who were shareholders of record on October 1, 2015, the record date, received their pro-rata amount of shares of WRMT stock, out of a total of 13,812,850 shares. Shareholders of PWCL received one (1) share of WRMT common stock for every six (6) PWCL shares of common stock that they held on October 1, 2015. PWCL maintained a 4.5% ownership position in WRMT following the spinout.

WRMT describes itself as ” the Independent Mobile Network. It designs, manufactures and sells wearable technology products and mobile products which are connected by a network of voice and data services, soon to be enhanced with its new, market-beating proprietary mCell5GHz technology, delivered under the “SPACE” brand.”

Last month, the company announced that it had started production of 100,000 Health & Lifestyle Oracle (‘HELO’) wristbands that are scheduled for worldwide launch in Q2’16. HELO is World Media & Technology’s Health & Lifestyle Oracle wristband, which monitors the wearer’s vital signs, fitness and sleep quality, 24/7/365. Trend measurements, which include blood pressure, heart rate monitoring and ECG, combined with a sleep quality assessor and fitness indicators such as steps taken, distance traveled and calories burned, all provide the wearer with continuous feedback so that they can make changes to their lifestyle and improve their health. Feedback and data presentation are available via the HELO software application that will be available for download on Android and iOS platforms. CEO Fabio Galdi said:

“the opportunities of this technology are many, ranging from improved HELO wearer fitness levels, medical expert access, to continuous vital sign monitoring for individual patient wellbeing, to medical research where our partners can start to data-mine vital signs across a global population. Our objective is to offer the best possible data analysis to our HELO wearers, so that we can continue to deliver on the Wor(l)d corporate promise – ‘Join Wor(l)d and change your lifestyle’.”

WRMT’s distributors have commenced pre-launch activities and significant demand is expected from the US, LatAm, India, Far East, MENA and Russian markets. WRMT sells the HELO unit to distributors for a fixed unit price and will also receive an additional recurring service and activity based license fee for every HELO application downloaded. Going forward, WRMT intends to establish collaborative relationships with medical experts and thought leaders who will get secure access to the aggregated, anonymised data which will be available for research purposes.

Last month, WRMT also announced the first shipments of the innovative SPACE LUMINA™ Glasses. CEO Fabio Galdi said:

“We are particularly pleased to have our smart wearable product, SPACE LUMINA™ Glasses, in the market ahead of Microsoft and many of our other competitors, and also to show the markets we can deliver innovative products from concept to profitable revenues. This is only the beginning for us. Every day we receive tremendously positive feedback from our customers who have received our ground-breaking product, SPACE LUMINA™ Glasses. Our successful market deployment confirms our capability as an emerging leader in the global wearable tech market, which is set to explode.”

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Currently trading with a market cap of $158 million, the move higher in shares comes as there’s only 5 million shares in the float. Many investors are holding the shares they received in the spinoff as free money. Shares of PWCL have rallied as well, albeit on light volume.

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While WRMT is an exciting story and did manage to post over $1 million in revenues in the quarter ended Sep 2015, we view the current run up in prices as being too far, too fast. The company does not warrant its current valuation. Shareholders should view the current levels as a gift and book their profits. Chasing the stock at current levels makes no sense. Even shares of Fitbit are struggling as more signs point to Apple entering the space and introducing a more basic wearable device. We will be updating Insider Financial as soon as we know more. For continuing coverage on WRMT, sign up for our free newsletter today and get our next hot stock pick!

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Disclosure: We have no position in WRMT and have not been compensated for this article.

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World Media & Technology Corp (OTCMKTS:WRMT) Explodes Up The Charts
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