After posting an impressive run in April, and coming out of the double-zero zone, Pazoo Inc (OTCMKTS:PZOO) is back into negative trend. So far, it has been a disappointing week for Pazoo stock. In yesterday’s trading session price, the stock price declined more than 17% to close at $0.0105. The decline came at a share volume of 27.42 million compared to average share volume of 28.20 million.
The changing trend
Pazoo, which started as an online health and wellness entity for people and their pets entered into burgeoning industry of medical marijuana. The company now offers marijuana lab testing, purity assessment and sampling services. The whole plan is supported with steady stream of Press Releases that perhaps is issued a little more often than required.
The problem with the company is it is not focusing on the important filing like annual report which was expected to be issued by the end of March. Instead, Pazoo filed for an extension, and even the extended period elapsed with no information on annual report until this time. Few days ago, the company issued another PR stating that report will be released in the next several business days, but again there is no update.
As per the last quarterly report dated September 2014, Pazoo reported cash of $95,000. The current liabilities came at $1.9 million and the quarterly revenue came at $20,000. The quarterly net loss was $1.2 million. Although the company posted revenue, but quarterly loss was whopping at more than $1 million.
In case Pazoo Inc (OTCMKTS:PZOO) manage to file its annual report in the near term, it would have a much better probability to move up on the charts. As of now, there is no option but to take investment decisions based on the financial numbers that are seven months old and moreover with information given in 8-K filing updates.