Pazoo Inc (OTCMKTS:PZOO) confirmed that more than a week ahead of planned date, it has repaid the total of debt on its Convertible Promissory Note to firm Eastmore Capital LLC. It previously announced its plans to pay off the debt of Eastmore Capital in coming weeks. The stock reacted positive on the news. However, in last trading session, it eroded gains and declined more than 12% to close the trading session at $0.128.
Pazoo has been following an aggressive expansion and growth measures and intends to speed up the expansion plans in the coming period. In the future, the company may require financing debt to support the ongoing rapid expansion. The management is well informed about the impacts of dilution and, as shown in the debt paying initiatives, wants to protect the company’s shareholders. The company is of view that share valuations will demonstrate a stronger fundamental valuation gained through current site revenues, potential acquisitions, organic growth and new opportunities in the future.
The expert view
David Cunic, the CEO of Pazoo commented that raising funds to support growth and expansion plans is significant when it is accretive. The management has reduced the overhead to lowest levels to make sure every penny is directly invested into the growth and expansion of Pazoo and associated subsidiaries. There are several big opportunities available and the management intends on delivering on them.
Pazoo Inc (OTCMKTS:PZOO) is operational in the industry of health, wellness and safety. Its prime objective is to provide the best-in-class and advanced laboratory testing measures of cannabis and cannabinoids to save consumers from various forms of impurities, irregularities and contaminants. It has a wholly owned subsidiary unit known as Harris Lee and together with the firm and association with MA & Associates, it provides quality testing services. It has license to test cannabis in the state of Nevada.