In the last couple of weeks, the performance of Pazoo Inc (OTCMKTS:PZOO) stock has been impressive. The ticker gained upwards in the first week of March but was unable to sustain upwards trajectory and then quickly declined back down.
However, it appears that once gain investors are showing interest in PZOO stocks. At the start of the week, the stock price surged by 14.5% on healthy volume. It posted strong gains on the following day and ended on a flat note in yesterday’s trading session.
Pazoo Inc (OTCMKTS:PZOO) has planned something big for April and it is the reason investors are eager to invest in the company’s stock. The company has a 40% stake in MA & Associates, LLC which is believed to complete the construction work of a marijuana testing facility in this month. Most probably, it will inaugurate the facility on April 20.
In another Press Release issued a couple of days ago Pazoo announced that the subsidiary Harper Lee, LLC, finalized a binding letter of intent for the acquisition of all of the assets to run Steep Hill Colorado. It is a marijuana testing lab based in Denver, CO. As per the report, the ownership is expected to be transferred by the end of April.
Before investors get too excited with April’s plans, it is essential to consider a couple of things. As per the last quarterly report, the company had $95,000 in cash. The total current assets amounted to $439,000. The revenue came at $21,000 and total current liabilities stood at $1.9 million. The net loss came at $1.25 million.
The company was supposed to submit the annual report for FY2014 by the end of March. However, the company announced a delay in submission of results. It stated that due to lack of staff it was unable to complete the report on time. Still, Pazoo expects to submit the annual report within the next fifteen day extension period ending next week.