TOTALLY HEMP CRAZY (OTCMKTS:THCZ) came up with another new announcement on Friday. However, it failed to move investors’ attention in its favor. The company said that after the success of its Rocky Mountain High hemp infused beverage, it plans to launch another low-calorie beverage. According to the press note, the new fourth flavor drink will hit the market by as early as next month.
The company has named the drink as ‘Hemp Coconut Lime’, which will contain natural flavor and is sweetened using Stevia and Agave Nectar that makes it count in a low-calorie product. TOTALLY HEMP CRAZY (OTCMKTS:THCZ) will package the drink in a 12 oz. slim line can. The company added that the new drink will contain 50 mg of hemp seed extract that consists of Omega-3, Omega-6 alongside other eight essential amino acids.
The company noted that it will furnish the complete details of its new beverage on the website later this week. Moreover, TOTALLY HEMP CRAZY (OTCMKTS:THCZ) anticipates the drink to be made available on Amazon.com by late May 2015.
What is missing?
The company’s CEO Jerry Grisaffi said that the new flavor is their first step to create a complete range of its hemp infused drinks. Grissaffi hinted that the company is mulling over plans to roll out flavored water and alcohol based products soon. He added that the company’s fifth drink is expected to launch in June this year.
TOTALLY HEMP CRAZY (OTCMKTS:THCZ)’s beverage additions are impressive but they fail to conceal the company’s poor financials. As per the most recent financial report, the company maintains $23,000 of cash while its current assets are worth $724,000. On the other hand, the company’s current liabilities are $1.2 million while the quarterly net loss stands at $345,000. The revenue too is not supportive, which came in at $68,000 during the last quarter.
The stock price of TOTALLY HEMP CRAZY (OTCMKTS:THCZ) fell by 2.08% to $0.235 during the last session, when nearly 23 million shares changed hands.