Pazoo, Inc. (PZOO) is looking to capture the last bit of attention the marijuana sector has as it goes on promotion again today just -22.58% below its 52Wk High set last week. The penny stock became popular just a couple of weeks ago when they entered into a deal which, if closed, would give them a 40% equity stake in a medical marijuana testing facility that’s still looking to be approved. After filing their 10-K which lacked the meat and potatoes to account for, you’d have to be high to think there is another run left in PZOO stock .
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PZOO Stock Quote
Market Cap: 5.03M
Monday Close: 0.048 ▲ +0.0001 (+0.21%)
Dollar Volume: $85,057
Issued and Outstanding: 104,765,750
14-Day Rel Strength: 76.89%
1st Resistance Point: 0.0566
1st Support Level: 0.0372
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Pazoo jumped onto the scene back in 2012 when they were looking to capture the boom in the health and wellness market. A large number of traders were expecting to see a promotion occur back than on PZOO stock since, at the time, that industry was the hot one and other OTC listed companies like MusclePharm Corp. (MSLP) and Respect Your Universe Inc. (RYUN) had been real attention getters.
Targeting pet owners and adults 25-54 who are health conscious simply wasn’t cutting the mustard for the e-commerce platform Pazoo had spent over a year trying to brand and attract visitors to. Total revenues for the year ended December 31, 2013 were a mere $52,813, less than half what they were for the year prior; $119,251. Cash on and at the end of 2013 would have roughly gotten Pazoo through February and with a penny stock that was like a fruit cake, something had to be done.
When you’re an OTC listed company and no one wants to even look at your stock, what do you do? You go for marijuana.
Pazoo struck a deal with Iconic Holdings, LLC at the end of February, 2014 to borrow $$220,000 in exchange for a 10% Convertible Promissory Note. Iconic has the right to convert any unpaid amounts (essentially all of it) into PZOO stock at the rate of the lesser of $.01 per share or 50% of the lowest trade reported in the 25 days prior to date of conversion; i.e. 0.01.
PZOO stock suddenly became popular right after St. Patrick’s Day when the Company entered into an agreement with MA & Associates, LLC to acquire a 40% equity interest in the private company so that they could gain access to the holy grail: becoming a marijuana stock. MA & Associates, LLC is in the process of becoming a licensed medical marijuana testing laboratory in the State of Nevada.
Who owns PZOO stock? From the 10-K filing yesterday, David Cunic, CEO / Director, owns 15,000,000 (14.8%), Steve Basloe, President / Exec. VP of Marketing/Sales / Chairman of the Board, owns 15,000,000 (14.8%), Gregory Jung, CFO / Director, owns 12,500,000 (12.3%) and Ben Hoehn, COO, owns 2,500,000 (2.5%). This essentially makes the float 59,765,750. With popularity fading and no weed to be sold or grow rooms to be leased out, a possible equity interest in a possible licensed medical marijuana testing facility doesn’t leave much room left for PZOO to go much higher.
About PZOO Stock
Pazoo, Inc. operators of Pazoo.com, is a development stage company determined to make an impact on its visitors’ health and wellness while producing profit with revenue streams coming from a variety of business initiatives.
Last 5 Trading Sessions:
PZOO should pop at the open since penny stock alerts are being sent out on it today. Having already run up +296.69% from their lows set prior to the medical marijuana testing facility deal was entered into, there isn’t much more left in the wazoo to send PZOO stock much higher than the gap open.
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