Current Water Technologies Inc. (WATR.V) was initiated a year ago. WATR.V (formerly Enpar Technologies Inc. ENP.V), uses an electro-chemical process to purify water, primarily through a) An electrostatic discharge (ESD) and b) AmmEL which converts ammonia into environmentally friendly nitrogen.
ENP.V has multiple patents and was recognized by Global Water Intelligence as a Key Emerging Technology in 2017. Last May, WATR.V was also invited to the Pujiang Innovation Forum 2017 as an emerging company in the Industrial Water Treatment Sector.
In the past year, ENP.V received significant insiders investment from its founder, Gene Shelp, as well as, Nizar Kammourie, a managing director of Chemsbro. Mr. Kammourie also serves with Saudi Brothers Commercial Company. In April 2017, WATR.V initiated the construction of an ESD Water Treatment Plant construction for Chemsbro. In June 2017, a SEDI report listed that Mr. Kammourie accumulated 10M shares in a 16 months period.
This is a strong endorsement of ENP.V's technology and constitute of a joint venture of sort between Chemsbro and ENP.V.
In October 2017, ENP,V announced the acquisition of Pumptronics Incorporated ($3M) and a private placement of 5M. Pumptronics, "an integrated pump station manufacturer specializing in custom design and automation", is no doubt synergistic for ENP.V. The term of the transaction were about $3M - $1.2M in cash and 12M shares of ENPAR Technologies Inc. (ENP.V) at $0.15 cents. As such, a $5M private placement was sought; at $0.15 cents with warrant at $0.25 cents. Hence, ENP.V's existing shareholders were open to receive an increase in valuation even before the transaction was closed.
ENP.V was halted for three months during which the First Tranche of Private Placement ($1.3M) closed (December 2017). On January 2, 2017, ENP.V re-branded to WATR.V and six days later (January 8, 2017) the completion of the acquisition of Pumptronics was announced. On February 2, 2017, the Second Tranche of the Private Placement ($0.9M) was closed. Finally, the Third Tranche of the private placement ($0.4M) closed on February 17, 2017.
With $2.6M of the $5M objective, the stock has been on the rise after the closing of the Third Tranche. No doubt, the recent feature on the Midas Letter helped. In the segment, WATR.V mentioned taking profits from current $0.4M to $2.0M in 2018, via the ESD Water Treatment plant announced last April.
With Warrant at $0.25 cents, we believe that there is more room for WATR.V to continue to rise in the coming year. Below is our forecast for the week.
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