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Stock Market & Financial Investment News

News Breaks
July 8, 2014
09:12 EDTWPCSWPCS International announces $5.5M in new contracts
WPCS International announced approximately $5.5M in new contracts in its Suisun City operations for the period January 1, through May 31. These results compare to $2.3M for the same year-over-year period, an increase of 141%. The company is only reporting on its Suisun City operations as it expects it to be the only remaining domestic contracting operation following the proposed sale of the Seattle operations.
News For WPCS From The Last 14 Days
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September 29, 2014
09:31 EDTWPCSWPCS International announces 34% user growth for digital currency offerings
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September 18, 2014
08:15 EDTWPCSWPCS International urges holders to vote YES to increase authorized shares
WPCS International is providing a letter to shareholders with a year in review and why a "YES" vote to increase the authorized shares is crucial. "We want you to know that we are entering the final stages of our current restructuring. The board believes that once our proposal to increase the number of common shares authorized by the Certificate of Incorporation and other proposals are approved, it will enable WPCS to seek key strategic initiatives to enhance our balance sheet through debt reduction, which we believe will ultimately improve our shareholders' equity and cash position." The letter also states, "The upcoming proxy statement proposal to increase the authorized shares of the company, which shareholders did not approve when last presented, is required for us to meet the existing equity conversion and warrant obligations under our secured convertible notes, convertible preferred stock and warrants. We are required to continue to seek this approval, which will result in additional cost and expenses to WPCS, until our obligation is met. We believe that an increase in authorized common stock could lead to the reduction or elimination of our outstanding secured debt, which has been highly restrictive on the company and our ability to create value for all shareholders going forward. Additionally, the increase in authorized shares would better position the company to attract talent through a new stock option plan, provide the company with flexibility for potential growth capital and enhance our ability to leverage our position as a publicly-traded company to pursue selected strategic acquisitions that we believe could enhance our business."

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