Pazoo Inc (OTCMKTS:PZOO) confirmed that its Subsidiary firm, Harris Lee, LLC., has finalized a License Deal with Steep Hill Labs, Inc. After the agreement, it will become exclusive pot testing laboratory for Steep Hill, in Oregon. Harris Lee was formed to initiate and operate advanced marijuana testing labs throughout the USA
In last trading session, the share price of Pazoo declined more than 30%to close at $0.0059. It made a 52-week low of $0.004 per share last week. After making a new low, PZOO shares bounded and went on to post a streak of four consecutive sessions of gains. It even touched the mark of $0.0095 this Tuesday. It appeared that Pazoo stocks would finally climb over one cent On Tuesday and indeed PZOO opened with a gap up at $0.01285 and made a high of $0.014.However, it failed to sustain at higher levels and took a step back declining down to $0.011.Throughout the trading session, the unprecedented 41.5 million shares were exchanged.
The financial performance
Pazoo Inc (OTCMKTS:PZOO) is fetching attention, but investors need to be cautious of the red flags around the company as they are both serious and numerous. As per the latest financial report, ending September 30, 2014, Pazoo had $95,000 cash, total current assets of $439 thousand and $1.9 million as total current liabilities. The company posted revenue of $21,000, and net loss was $1.25 million.
The future ahead
The financial performance of Pazoo in the last quarter are far from encouraging but here it is important to mention that they do not account for marijuana testing operations that are set to commence in this year. The company wholly owned subsidiary will be operational in June. Also, its 40% owned partner is near to completing the construction of its marijuana testing facility with opening taking place on April 20.