Dallas, Texas 10/29/2013 (Financialstrend) – The stock of $40.33 million market capitalized “Alkaline Water Company Inc (OTCBB:WTER)” is trading at $0.508 per share as of close of business on October 29. This represents a 0.59% increase from its previous day close. At current valuations the stock has been trading at 61% below its 52 week low pricing.
The company which has patented a “electrolysis beverage process” to treat water and sell it under brand ‘Alkaline88,” has been making efforts to reach a larger addressable market by trying to build its brand and tying up with existing customer touch point outlets. It is in this context one needs to see its October 10 announcement that it has tied up with “Alford Distributing Co. of El Centro, California”. The company considers this move as a major initiative on their part to expand their foot print in the Southern California region.
The tie up with “Alford Distributing Company” looks like a win-win situation for both the firms. The distribution firm which has been in operations since 1952 has a huge distribution and retail supply presence in the “San Diego County and The Imperial Valley region”. It currently has a strangle hold in the distribution of “beer and other non-alcoholic beverages” in the above markets and reselling Alkaline88 would enable them to increase their product portfolio.
President and Chief executive officer of The Alkaline Water Company Inc. Steven Nickolas has been quoted as saying “The addition of Alford Distributing to our family of distributors allows our Akaline88 product to reach an extremely large and important territory in Southern California. The Alford Distributing Co. represents one of the finest networks of distributors in the United States and says a great deal about our product appeal.” In the past one month, the stock has lost 13% of its market value