WDRP has been on a rampage since we brought this stock to readers a few weeks back.
A few press releases appear to be the impetus for today's move. It is pasted below.
With the amount of buying going on it is hard to argue with the bulls. This stock could very well see another 50% worth of upside before a healthy pull-back occurs.
NEW YORK, NY, Feb 25, 2010 (MARKETWIRE via COMTEX) -- Wanderport Corp. (PINKSHEETS: WDRP) today released its current share structure following a return and cancellation of 130 million shares to treasury.
As previously reported by the company, reasons for returning the 130 million shares are threefold. Shares controlled by outgoing President, Mr. Barry Somervail, have been returned, as well as, shares destined for the acquisition of a percentage participation in an electric vehicle project that was never consummated. Lastly, Mr. Robert Simoneau, product licensor and Wanderport's Technical Product Advisor, has graciously returned a portion of stock to the treasury, as a result of Wanderport satisfying a timeline milestone towards production.
To provide transparency to shareholders Wanderport has provided this timely information as per below: Until the company's recent announcement that 130 million shares were being returned to treasury for cancellation, Wanderport's share structure had not been modified since September 30th, 2009 when the company filed its Initial Company Information and Disclosure Statement. However, approximately 15 million shares were not issued in time for the filing in September 2009. As a result, the actual revised total shares outstanding are 642,500,940 including the return of 130 million to treasury.
Further to this, the company has learned that the transfer agent had erroneously indicated that the company's restricted stock total was only 60 million shares when it was really 560 million shares prior to the return and cancellation of 130 million shares to treasury. The company hopes this has not inconvenienced shareholders.
In management's opinion and after corresponding with the transfer agent, the following is the most accurate share structure: Authorized Shares: 1.2 billion Outstanding Shares: 642,500,940 Restricted Stock: 430,000,940 million shares Float share estimate: 212,500,000 Number of shareholders on record: 375
"With Sales forecasted in the area of 144 million over five years, and total outstanding shares of 642,500,940, Wanderport is on target for $0.22 revenues per share over the same period and with our projected sustained growth, a larger sales figure is to be expected," stated Richard Martel, Wanderport's President and CEO. "A multiple of 5 times sales would bring revenues per share to $1.12 , which is an excellent value for shareholders and it is our objective to continue to build sustainable shareholder value for years to come," continued Mr. Martel.
About Wanderport Corporation: Wanderport Corporation is a holding and business development company making investments, acquiring licenses and deployment of environmentally friendly "Green" technologies such as, primary alternative, renewable energy and energy saving products namely Pulsar's microwave energy tank-less water heater, which reduces water and energy consumption as well as global dependence on oil. Pulsar Advanced Technologies Inc. was the proud recipient of the 2005 TIPTA award (TCA; Toronto Construction association, Innovative Product and Technology Award), recognizing excellence in innovation in product or technology development, or its application of its microwave energy tank-less water heater.
Important Information About Forward-Looking Statements: Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services to be offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating efforts.
Contact Wanderport Corporation at:
www.wanderport-ir.com
Email: inquiries@wanderport-ir.com
+1 (917) 338-7957
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