TOTALLY HEMP CRAZY (OTCMKTS:THCZ) is acting as per expectations. The company has started losing investors’ attention again as it failed to address the concerns surrounding it. After gaining tremendously over the last few sessions, the company has started retreating though in single low digits. It is clear that the company’s recent updates gave a brief pause to its fall. But, it is likely that the situation will only worsen if the company continues to remain silent on the Caveat Emptor matter for long.
Limited damage control
It is to be noted that OTC Markets.com placed a Caveat Emptor on TOTALLY HEMP CRAZY (OTCMKTS:THCZ) recently, which is a way to alert investors about a risky company. Though the company tried to tape the damage by stating that it is working closely to resolve the issue, but nothing fruitful has surfaced so far. The company has reassured that it has not paid for any promotional activity, but a red flag is a red flag.
Apart from which, there is nothing new to add by the company except its two recent updates. TOTALLY HEMP CRAZY (OTCMKTS:THCZ) asserted that its revenues from the Rocky Mountain High hemp based beverage is going to touch $700,000 by as early as next quarter. Moreover, the company claimed that it earned $67,663.51 in revenues in just a matter of two weeks. Also, TOTALLY HEMP CRAZY (OTCMKTS:THCZ) said that it will see an increase in its production capacity by 25% in the coming days. While, the inputs are encouraging but the presence of Caveat Emptor offsets such positive developments.
The doubts grow even stronger after considering the assets and debt position of the company. It is a known fact that TOTALLY HEMP CRAZY (OTCMKTS:THCZ) has nothing much in assets but an escalating short-term debt. Its financial position prevents investors to imagine even about the company turning into a profitable one any sooner.
The stock of TOTALLY HEMP CRAZY (OTCMKTS:THCZ) lost 4.32% and closed at $0.155, while 22.12 million shares traded during the last session.