Amazonica Corp. (OTCBB:AMZZ) Rises On Unprecedented Volume
Amazonica Corp. (OTCBB:AMZZ) once again popped up as one of the most traded companies during yesterday’s session. Opening at the relatively high for any pennystock price of $0.74, the company shifted more than 3 million of its shares throughout the day resulting in a traded volume of $2.3 million. Compared to the previous time we covered the company they fared much better and closed 3.7% in the green
AMZZ describe themselves as a distributor of Brazilian hardwood flooring but might as well be doing anything else. They haven’t made a single sell in the 3 years they have been in business. The only progress they have made with their business plan is the hiring of Equatorian S.A. Laminados Amazonia as a supplier of hardwood flooring. This was done back in April, 2011…
In order to truly grasp what a dismal sight AMZZ fundamentals are just take a look at the quarterly report for the period ending January 31:
- total assets: $40 in cash
- total liabilities: $28 thousand
- no revenue since inception
- quarterly net loss: $4 thousand
- net loss since inception: $52 thousand
Although for now we have no idea what has transpired in the past six months we do know some very suspicious facts. In April, 2011 AMZZ issued 3 million shares to its director and officer Andre Caetano for the total sum of $3000, or in other words $0.001 per share. Again in April, but following year, another 520 thousand shares were sold to undisclosed parties, this time for $0.05 per share.
Having finished the set-up AMZZ underwent a 175 for 1 forward split in May this year making those shares 525 million for Mr. Caetano and 91 million for the others. So some people stand to gain a rather hefty sum having in mind that currently the stock is sitting at $0.76. All that is left in order for it to become a classical pump scheme is the paid promotion.
Also we want to mention that at the moment AMZZ has a market cap of a little less than half a billion dollars and apparently they can’t spare enough to create an official site.
We advise you to think twice before investing in this company. For now the risks they pose far outweigh any possible gains.
Corporate Resources Services, Inc.(OTCBB:CRRS) went further up on their amazing uptrend and closed at $3.55. In a stark contrast to AMZZ this strong support from investors stems from stable fundamentals and the application CRRS filed for uplisting to NASDAQ. GelTech Solutions, Inc. (OTCMKTS:GLTC) also had a great performance closing 11% in the green on a record for the past three months volume.
