I dunno Mike. I used to cover the environmental stocks over at Douche Bank
back in the good 'ole days, and the big player in the industrial and residential segments was (still is) U.S. Filter/Culligan, which was acquired by some huge French conglomerate. USF/CUL is a huge company (billions in revenue) and feeds the crumbs to smaller players like Osmonics and Ionics, who in turn piss on WTER.
WTER is a pimple on the ass of a very large elephant, and its market capitalization reflects that. It might ride favorable industry trends (aging POTW infrastructure, increasing industrial demand for clean water). But, a rising tide lifts all boats in the sector. In the long run, it won't be able to compete with the larger players. It's also a penny stock, easy to manipulate, I'd steer clear unless I knew more about the product/company/management or if it could be a potential takeover target.