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TORONTO - Water Ways Technologies Inc. (TSXV:WWT), which according to InvestingPro data has seen its stock price decline significantly over the past year with a -81% return, announced Friday it has received final acceptance from the TSX Venture Exchange for its previously announced share consolidation. The consolidation will take effect at market open on August 21, 2025, with shares trading on a 10-to-1 consolidated basis.
Following the consolidation, Water Ways’ 148,785,346 outstanding common shares will be reduced to approximately 14,878,537 shares. No fractional shares will be issued, with post-consolidated fractions rounded to the nearest whole number.
The company will continue trading under the symbol "WWT" on the TSXV, but with new CUSIP and ISIN identifiers. Shareholders holding physical certificates or DRS statements will receive instructions from Computershare Trust Company on exchanging their existing documents.
Water Ways also provided an update on its Israeli subsidiary Irri-Al-Tal Ltd. (IAT), which is undergoing liquidation following an application filed October 1, 2024. The process is now expected to take approximately three years, longer than initially anticipated due to delays in collecting international receivables. InvestingPro data shows the company’s current ratio of 0.07 indicates significant liquidity challenges, with short-term obligations exceeding liquid assets.
The company indicated that the liquidation of IAT should not affect Water Ways’ revenues and operations, which primarily come from its Canadian subsidiary, Heartnut Grove WWT Inc.
Water Ways Technologies describes itself as a Canadian provider of Israeli-based agriculture technology, offering water irrigation solutions to agricultural producers in Canada and the USA. Recent financial data from InvestingPro reveals challenging business conditions, with revenue declining 63.75% and negative gross margins of -40.4%. The company’s overall financial health score is rated as WEAK, with 8 additional key insights available to Pro subscribers.
The information in this article is based on a company press release statement.
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