TOTALLY HEMP CRAZY (OTCMKTS:THCZ) marginally retreated from its previous day’s gains yesterday, which more or less should be considered as a flat trade. After the OTC Markets.com raised a red flag on the company, there remains a question on the company’s ability to restore faith in its stakeholders.
There has been no new information published by TOTALLY HEMP CRAZY (OTCMKTS:THCZ) so far. The company gained some momentum after releasing two sets of updates early this week. First of all, the company noted that it has achieved record revenues through the sale of its Rocky hemp based beverage. Second update given by the company is with respect to its new distribution agreement.
No new information
In its most recent press release, TOTALLY HEMP CRAZY (OTCMKTS:THCZ) announced its third quarter results. As per which, the company reported to have achieved $67,663.51 in revenues solely from sales of its Rocky Mountain High hemp based beverage. Moreover, the revenue number is said to be amassed in just two weeks. Over and above this, the company set high expectations for investors by projecting $700,000 in revenues in its next quarter. The company affirmed that it has pushed its production capacity up by 25% to 60,000 cases and hopes to continue the trend going forward.
Lack of clarity
Additionally, TOTALLY HEMP CRAZY (OTCMKTS:THCZ) tried to win the confidence of its investors by clarifying the matter around Caveat Emptor placed on its stock. It said that the Caveat Emptor has been placed due to some error and that it is promptly working with the compliance team to solve the issue at the earliest. The company also said that it has signed a distribution agreement with Dr. Pepper Bottling Company, based in Oklahoma.
The stock of the TOTALLY HEMP CRAZY (OTCMKTS:THCZ) was down by 2.41% to $0.162 yesterday while 21.90 million shares traded on the day.