Wialan Technologies, Inc. (OTC: WLAN) is engaged in installing and operating industrial grade wireless access points for indoor and outdoor use with a track record of successful deployment in airports, municipalities, and apartment buildings. As one of the few 5G stocks in the OTC, WLAN has been garnering investors’ attention thanks to its connection to T-Mobile (NASDAQ: TMUS). This connection has been highly speculated on as the company recently appointed a former T-Mobile director as an advisor while acquiring the license of a technology similar to one developed by the telecommunications giant. With plans to roll out this new product in 2023 and beyond, WLAN stock could be one of the 5G stocks worth investing in for the long-term.
WLAN Stock News
After 8 years without sharing updates, WLAN has been receiving investors’ attention after releasing PR to announce new additions to its BOD. For its CFO position, WLAN appointed Alan Bailey. Until 2009, Bailey was senior vice president and treasurer at Paramount Pictures for more than 30 years. During his tenure with Paramount, Bailey was responsible for global cash management, internal audit and compliance, film financing and cash planning. In addition, Bailey worked in senior roles with several public companies in accounting, finance, as well as mergers and acquisitions. Based on Bailey’s extensive experience, many investors are bullish WLAN could be preparing to announce major news in the near future.
At the same time, WLAN appointed Fernando Scazzi as Chief Technical Officer. Over more than 20 years, Scazzi worked in various roles in the production of aircraft parts with Rockwell Collins. Meanwhile, Scazzi worked previously with WLAN as a consultant assisting in the design and manufacture of the company’s access points and products thanks to his knowledge in materials and production processes. With this in mind, WLAN could utilize Scazzi’s knowledge in developing new products.
On that note, WLAN’s PR included encouraging news regarding the company’s future plans. With the company looking for potential candidates for its CEO position, WLAN shared that candidates for the position must have senior level experience in cellular connectivity and operations. This experience is pivotal for the company as the new CEO will work with the company’s directors to develop and launch a new revolutionary product. Moreover, WLAN intends to develop other new communications processes and products to launch into the market later this year. In light of this, WLAN stock could be one of the best 5G stocks to hold onto this year in anticipation of the roll out of the company’s new products.
One of these products is a patented streetlight product that will host micro cellular devices to offload traffic from main cell towers – emulating a local cell tower in a light pole. With this in mind, WLAN’s president Victor Tapia was a co-inventor of a patent licensed to T-Mobile regarding a project similar to the project mentioned in the PR. This patent is regarding the retrofitting of streetlights to enable cellular and wireless communications to be added to the streetlight to provide additional bandwidth to that provided by cell towers. Considering the similarity between both projects, investors are bullish WLAN could be one of the promising 5G stocks to watch this year if it launches such a product to the market.
In other news, WLAN could be one of the 5G stocks to watch over the coming weeks as President Biden is set to sign the CHIPS and Science Act into law after passing the Senate and the House. This legislation will provide $52 billion in subsidies and grants for the domestic chip manufacturing industry and more than $100 billion for technology and sciences investments. The legislation also includes $1.5 billion for a fund that would encourage companies to build 5G networks. Given that T-Mobile is expected to receive funding from this bill thanks to Tapia’s patent, WLAN could be also poised to receive funding to further develop its product.
While the company is currently Pink Limited, WLAN is expected to file an attorney letter with OTC Markets this week to regain Pink Current status. With this in mind, the company expects the yield sign to be removed within the coming 10-14 days. In light of this, WLAN stock could be one of the 5G stocks to buy now as it could explode upon becoming Pink Current.
*Updated October 28th, 2022
As the company continues preparing for the roll out of its new products, WLAN engaged Tony McDowell as a special advisor. This appointment increased investors’ speculations regarding WLAN’s connection to T-Mobile since McDowell previously worked at the telecommunications giant as a senior director network engineering and operations covering South Florida and the Caribbean. By adding an industry veteran like McDowell to the company, WLAN could be one of the most exciting 5G stocks to watch over the coming months.
In addition to McDowell’s appointment, WLAN acquired the exclusive license to build and sell a patented street light fixture that can host micro wireless devices. In this way, this product would enhance internet reception and connectivity from the reach of each street light pole. With the company now holding the license for this revolutionary product, WLAN could be poised for significant financial growth in the future as its product becomes more adopted.
On that note, this product is already deployed in a Miami Dade County city and in several sites across Mexico where it is operating efficiently. With this in mind, WLAN intends to roll out this product in more cities and locations in the US and overseas in 2023 and beyond. Based on these plans, WLAN stock could be one of the best 5G stocks to hold onto for the long-term as the company could be set for major growth in the future.
WLAN Stock Financials
Q2 Financials
According to its Q2 financials, WLAN’s assets declined from $20.7 thousand in Q1 to $18.4 thousand due to cash decreasing to $11.3 thousand from $13.6 thousand. Meanwhile, the company reported $12.1 thousand in revenues for total revenues of $31.6 thousand in the first half of 2022. With this in mind, WLAN reported a net loss of $10.2 thousand in Q2. The Q2 report also highlighted that the company has no debt or convertible notes – reducing dilution risk faced by shareholders.
*Updated October 28th, 2022
Q3 Financials
In Q3, WLAN reported $7.6 thousand in revenues to bring its total revenues since the beginning of the year to $39.3 thousand – representing a decline from $48.4 thousand reported over the same period last year. Meanwhile, operating costs decreased in Q3 compared to a year ago to $13.3 thousand from $18.8 thousand. In light of this, WLAN reported a net loss of $7.7 thousand compared to $11.5 thousand in Q3 2021.
As for its assets, WLAN witnessed a decline from the beginning of the year as the company reported $10.6 thousand compared to $20.7 thousand. However, WLAN remains without liabilities or debt which reduces the chances for any potential dilution in the future. With this in mind, WLAN has not diluted since last May and has no convertible notes which makes the stock an attractive investment in the 5G sector.
Media Sentiment
@Jcazz17 is bullish on the potential of WLAN’s recent news and its connection to T-Mobile.
@nxtplse is bullish on WLAN’s future outlook thanks to its connection to T-Mobile.
Technical Analysis
Following a 100% spike overnight, WLAN is trading at $.0038 and has supports at .0028, .0023, and .0016. The stock also shows resistances near .0039, .0051, and .0057. With many investors bullish on WLAN’s connection to T-Mobile after appointing McDowell, WLAN has the potential to further run on any news regarding its technology. Meanwhile, WLAN is yet to announce its new CEO which is a catalyst to watch for over the coming months as it could send the stock near its 52-week high of $.0057.
Considering that the stock is witnessing increased interest from investors as one of the few 5G stocks in the OTC, WLAN has the potential to continue its run leading up to next week if it continues witnessing higher than average volume. As is, WLAN is trading above its MAs which could be a bullish sign for a continuation of this run over the coming weeks. As the stock is trading near its resistance, investors willing to enter a position in WLAN could be better off watching for a retest of the resistance. If the stock manages to break through its resistance with a pullback, a good entry point could be near $.0039. However, it is worth noting that there is a gap near .002 that has to be filled which could be a good entry point for long-term investors.
Considering the major potential of WLAN’s technology, accumulation spiked upon announcing the acquisition of the technology’s license. At the same time, the MACD is bullish to the upside. Meanwhile, WLAN is overbought at the moment with the RSI at 84 which could be a sign that WLAN could momentarily drop in the near term to allow the RSI to regulate. As for its share structure, WLAN has an OS of 2.6 billion and a float of 603.5 million.
WLAN Stock Forecast
As the company appears to be on the right track to start the roll out of its new products, WLAN stock shows tremendous potential to reach a price level near its 52-week high if it continues sharing positive news. With the company acquiring the license for the advanced 5G technology, WLAN could be poised to start realizing revenues from this technology in the near future. Considering that the technology is showing impressive results in a Miami Dade County city and several locations in Mexico, wider deployment of this technology could be a profitable asset to the company.
In addition to the major potential of the technology, investors are bullish on WLAN’s connection to T-Mobile especially after adding McDowell as an advisor. Given that McDowell has vast experience in the wireless industry, investors are bullish WLAN could be poised for major growth in the future. Since the company is yet to announce its new CEO, WLAN could be one of the 5G stocks to keep an eye on over the coming months as it could further soar.
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