Pazoo, Inc. (OTCMKTS:PZOO) Sinks Back Down
After an extended run in April that dragged the share price of Pazoo, Inc. (OTCMKTS:PZOO) out of double-zero land and pushed it to an intra-day high of two cents per share, things took a new turn and the price is trundling back down. Yesterday PZOO lost another 12% and stopped at $0.012 per share after 30 million shares changed hands.
The company, which started out as an “online health and wellness community for people and their pets”, in the words of CEO David Cunic, turned to the hot topic of 2014 – medical marijuana. Pazoo now works towards offering marijuana laboratory testing, purity analysis and sampling. The whole endeavor is backed up with a steady stream of PR updates that perhaps arrive a little more often than they need to.
It would have been great if the company was as dedicated to filing on time as it is to pushing out frequent, verbose PR but this is not the case. PZOO‘s annual report for 2014 was due by the end of March. The company filed for an extension, the 15 days came and went and the report was still missing. Then came more PR, explaining that the filing was coming in the “next several business days”. It seems PZOO‘s idea of “several” is somewhere in the “more than two calendar weeks” ballpark. As of today the report is still missing and the company has been stamped with Pink Limited Information on OTC Markets for a while.
The previous quarterly dated September 2014 contained the following figures:
- $95 thousand in cash
- $1.9 million in current liabilities
- $20 thousand in quarterly revenues
- $1.2 million in quarterly net loss
If the company manages to furnish its annual report soon, it will have a much better chance to make another green move on the chart. As things are at the moment, investors are virtually working with information that is seven months old, interspersed in places with 8-K filing updates.