In the last trading session, the stock price of Pazoo Inc (OTCMKTS:PZOO) gained 50% to close the day at $0.00030. The gains came at a share volume of 56.92 million compared to average share volume of 83.80 million. After last day’s gain, the market cap of Pazoo stands at 576,780.
Results of operations
The last time market heard from Pazoo was about its Form 10-Q/A, which the company filed with the SEC. It posted revenue of $11,919 for the three months closed September 30, 2016, as compared to revenue of $5,970 in the same period, a year earlier. Operating expenses comprised of selling, general and administrative costs and professional fees, which came at $219,422 for the quarter closed September 30, 2016 compared to $545,335 for the quarter closed September 30, 2015.
Selling, General and Administrative costs came at $164,144 in the reported period compared to $306,756 in S,G&A costs in the same period of FY2015. It primarily comprised of stock compensation, marketing costs, advertising expenses and administrative fees. Professional fees came at $54,542 in the reported period compared to $214,367 posted in the same period in 2015. The decline in professional fees can be attributed to a drop in investor relations and consultants.
Pazoo reported that its net loss came at $92,275 for the quarter closed September 30, 2016 against the net gain of over $1.80 million for the same period in FY2015. The drop in net loss is mainly attributable to the debt extinguishment loss from the numerous debt conversions and loss/gain on the derivative liability.
For the nine months closed September 30, 2016, revenues came at $30,515 compared to revenue of $27,602 in the same period, a year earlier. Operating expenses consisted mainly of professional fees and selling, general and administrative costs. Total operating expenses came at $4.159 million for the nine-month period closed September 30, 2016 compared to $2.662 million in the same period, a year earlier. The company posted negative working capital of over $7.337 million as of September 30, 2016.