Jammin Java Corp (OTCMKTS:JAMN) Climbs Higher
On Wednesday an interview with the CEO of Jammin Java Corp (OTCMKTS:JAMN) on Fox Business brought record for 2015 attention towards the company. On that day investors shifted over 2 million shares while at the moment the 30-day average volume stands at 245 thousand. The buying pressure pushed the stock to a close 10% in the green at 22 cents per share.
Yesterday JAMN’s positive performance continued and they gained another 6.64% reaching a close at $0.235. The daily volume however was nowhere near the one from the previous day, but still, 554 thousand shares is a significant amount for the company. Investors are indeed excited about JAMN and we will see how far the momentum will push the stock up the chart.
The last financial report submitted by JAMN covers the quarter ending April 30 and the numbers found inside it definitely show that the company is making progress with its business operations:
• $72 thousand cash
• $1.97 million total current assets
• $3.87 total liabilities
• $2.7 million revenue
• $1.19 million net loss
The cash reserves are indeed far from impressive but the generated revenues are steadily growing while the net loss is shrinking. According to JAMN’s preliminary results for the quarter ending July 31 the company will report revenues of approximately $3.2 million. At the same time the losses are expected to be at their lowest level to date. If everything goes as planned JAMN anticipate that by the end of their current fiscal year they will become a profitable entity.
The success of their plans however will be heavily influenced by the results generated by the recyclable EcoCups of the company that were launched at the end of July. Another important event for the company was the start of the distribution of their products in South Korea through a a Supply and Distribution Agreement with C&V International Co., Ltd.
Although JAMN lack many of the more serious problems usually associated with pennystocks it is still for the best to do your own due diligence. It will be some time before any data about the sales of the EcoCups is announced and if the reception from the market fails to meet the company’s expectations it could cause their stock to start correcting.
