Kimberly Parry Organics Corp (OTCMKTS:KPOC) Bumbles 10% Down the Chart

The last couple of months have been relatively uneventful for Kimberly Parry Organics Corp (OTCMKTS:KPOC), at least compared to the initial boost that sent the stock up the charts in early May. After hitting a new 52-week high at $0.56 on Friday, in yesterday’s session KPOC dropped 10% and stopped at $0.50 flat.

The company operates in the cosmetics and toilet preparations sector. In August there was just a single press release coming from KPOC, informing of a deal with branding company LandGrab. LandGrab is presented as a “global branding group”, however, information about it is elusive at best. KPOC‘s press release gives no further information on the LandGrab entity – no website, no contact, not even its full legal name.

Searching for LangGrab, a branding group, on Google returns only KPOC‘s own press release and still no official website or any other meaningful information for LandGrab. For a “global branding group”, LandGrab certainly seems to maintain a very, very low online profile.

Then there’s KPOC‘s latest quarterly report for the three months ended February 2015. Here is the brief summary of numbers reported:

  • ZERO in cash
  • $2.9 million in current liabilities
  • $39 thousand in quarterly revenues
  • $95 thousand in quarterly net loss

Those dreary numbers are underpinned by a couple of reverse splits carried out during the last few years. While the one from 2013 was not that significant, decreasing shares at a ratio of 1 for 25, the other one that took place in April 2014 was the real issue. KPOC decreased its outstanding shares 8000 times.

Despite this massive 1 for 8000 reverse split, KPOC last stood on 153.9 million outstanding common shares as of mid-July. The company’s next report is due soon, as KPOC‘s fiscal year ends in May, giving it until the end of August to file the annual. However, the previous quarterly was due in mid-April and went public in mid-July so there’s no telling whether the new report will be up on time.

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