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February 7, 2013
13:22 EDTWPCSHudson Bay Capital reports 9.99% passive stake in WPCS International
News For WPCS From The Last 14 Days
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October 8, 2015
09:11 EDTWPCSWPCS International sees sufficient cash, liquidity for next twelve months
WPCS International issued a stockholder update following its September 29 Annual Stockholder Meeting, summarizing the company's improved financial condition, as it transitions from completing a successful restructuring plan to implementing a value-enhancing growth strategy. Sebastian Giordano, Interim CEO of WPCS, said, "As we previously announced, the restructuring of WPCS, which commenced in August 2013 and was completed in July 2015, was not only highly successful, but now has the company better-positioned for the future, as we chart a new, exciting course for the company...With the restructuring behind us, we started the new fiscal year by reporting net income from continuing operations for the first quarter...We have sufficient cash and adequate liquidity to fund our company for the next twelve months...Between the year-end April 30, 2015 and the first quarter ended July 31, 2015, we increased working capital from a $1.3M deficit to a $2.2M surplus; Cash and cash equivalents from $2.4M to $5.5M; and, Equity from a $139,000 deficit to a $3.3M surplus. Present state notwithstanding, it is certainly not our intention to stand still...A first step towards that end was our recent engagement of an investment-banking firm to work with management in identifying, targeting, and assessing various strategic opportunities."
September 30, 2015
16:03 EDTWPCSWPCS International files to sell 2.1M shares for selling stockholders
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