Water Technologies International Inc (OTCMKTS:WTII) Stock Gains Momentum: But Why?

Manufacturer and distributor of technologically advanced Atmospheric Water Generators, Water Technologies International Inc (OTCMKTS:WTII) announced the unwinding of Water Zone, the wholly-owned subsidiary. The firm gives commercial water treatment to condominiums, car washes, hospitals, and large manufacturers across Florida.

Trading Data

On Friday, WTII stock increased 8.33% to $0.0007 with more than 42.42K shares, compared to its average volume of 5.86 million shares. The stock moved within a range of $0.0007 – 0.0007 after opening trading at $0.0007.

Water Technologies International, Inc. Looks to Unwind the Water Zone Acquisition

Water Zone has witnessed high pressure due to shrinking profit margins and more debt. In the last few years, the firm had to deal with surging costs, covid pandemic, fuel prices, labor shortages, and late-paying customers. Water Zone was winning contracts, but the above-mentioned factors led to the erosion of margins and leaving the subsidiary insolvent.

The company’s debt has grown leaving the subsidiary unable to continue. Water Technologies will be continuing with atmospheric water generators and also target another subsidiary in a different sector with higher profit margins.

Water Technologies International Inc and its subsidiaries have novel devices harnessing the air purification input system for producing clean and safe water from humid air. Its subsidiary GR8 Water makes freestanding water factory units both for offices and homes to produce thousands of gallons of water each day. GR8 Water aims to make potable water available to all. It has patents issued by USPTO and has filed for additional patents with the USTPO.