Each year, a penny stock comes out of nowhere, makes an appearance on the awareness circuit and then just starts running to levels no one ever expected them to reach. In 2012, it was Omni Ventures, Inc. (OMVE). In 2013, it was Lot78, Inc. (LOTE). Now, 3 months into 2014 and roughly around the same time when OMVE stock and LOTE stock took flight, Banjo & Matilda, Inc. (BANJ), a nearly positive net income reporting manufacturer and seller of cashmere fashion, is gaining some attention and looks like it could make a serious move from “down under” to break past the $0.50 range.
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BANJ Stock Quote
Market Cap: 9.74M
Last: 0.35 ▲ +0.12 (+52.17%)
Issued and Outstanding: 27,836,484
Brendan & Belinda Storelli Macpherson: 12,332,561
Raymond Key: 5,014,852
Rezeruace Investments Ltd.: 2,000,000
14-Day Rel Strength: 56.78%
1st Resistance Point: 0.3667
1st Support Level: 0.3167
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With a firm grip on their target market of women aged 25-55 that are typically professionals willing to pay a premium for contemporary apparel, Banjo & Matilda has firmly placed themselves on the rack after reporting revenue of $1,724,181 for the fiscal year ended June 30, 2013, an increase of $773,369, 81.3%, from the year ended June 30, 2012. Their balance sheet looks very healthy and even the On January 12, 2014, the $250,000 Banjo & Matilda received from Raymond Key at the start of the year which is convertible into shares of BANJ stock at $.20 per share doesn’t pose much of a threat for longs.
Banjo & Matilda just came off a banging hot quarter whereby sales of their cashmere apparel came in at $426,015 for the 3 months ended December 31, 2013 compared to $192,060 for the same 3 months ended in 2012. For the 6 months ended, the total sales of $955,229 has the company just $186,448 in the red making net income reachable with some continued growth like they have displayed for the first 6 months of fiscal 2014 versus the same 6 months of fiscal 2013.
Being a husband and wife that began the designer label that’s prospering in the Australia market, the team of Brendan Macpherson and Belinda Storelli Macpherson surely deserve the $125,000 and $100,000 annual salaries the two are respectively receiving. If they can push sales to above $500,000 a quarter and still maintain the roughly the same operating expenses, profitability will be attainable which would be a rarity for an apparel company.
Last month we touched on why The Wet Seal, Inc. (WTSL) and Body Central Corp. (BODY) were bottom bounces longs could look towards for recoveries of their share price over the next 12-18 months. With BANJ stock being an I.P.O. today for the most part, the play on this with OMVE stock and LOTE stock as hindsight examples could be massive, especially if a short squeeze can be forced in a week or so.
About BANJ Stock
Banjo & Matilda, Inc. is an Australia based designer, retailer and wholesaler of contemporary luxury knitwear that draws its inspiration from Australian heritage and beach lifestyle.
Last 5 Trading Sessions:
There are a LOTE of reasons to like BANJ stock today. With the Company issuing their “Welcome Letter” just prior to the opening bell, even the gap open at 0.40 or more should still allow for the weekend issued penny stock alerts on BANJ to be better than effective to kick this one off.
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