The share price of Allezoe Medical Holdings Inc. (OTC: ALZM) is testing the low the penny stock created December 9th of last year. ALZM closed down -4.39% at $0.0109, its low of the trading session, while shareholders await the news of whether reported activities of an officer and director of Allezoe Medical Holdings, Hyman White, breached or violated the metaphorical “hymen” of the company’s code of ethics, guidelines for corporate governance or applicable provisions of the Sarbanes-Oxley Act.
Allezoe Medical Holdings, a company that has run up an accumulated deficit of nearly $30 million and yet to produce any revenues, has lost -53.62% value in its penny stock price YTD. This for a company that is a week away from its 52 week high when the penny stock, ALZM, traded for $1.40. Can’t be too hard on them considering there are just a year old since ending the exploration for minerals and focusing on organ transplantation.
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ALZM Stock Snap Shot:
Market Cap: 2.84M
(Apr 27, 2011): 1.40
(Dec 9, 2011): 0.0056
Avg Vol (3 month): 8,336,630
Avg Vol (10 day): 6,580,000
Shares Outstanding: 260.49M
On February 18, 2011, ALZM disposed of all of the mineral properties and related development and exploration activities as part of a series of transactions resulting in the acquisition of Organ Transport Systems, Inc. (OTS) ALZM acquired all of the outstanding shares of OTS and simultaneously disposed of the assets relating to its former activities in mining exploration, along with all related liabilities.
OTS is a development stage company that was organized as a medical technology company. OTS developed human organ preservation technologies designed to revolutionize the organ transplantation industry by dramatically improving the quality and increasing the availability of vital organs. Its strategic goal is to be the global leader of technologically advanced products and services for the entire organ preservation and enhancement market.
To view the SEC filings for ALZM, click here.
Bottom Line: ALZM could set new lows before bouncing which means that the stock should occupy the list of penny stocks to check back with every week and not every day or hour. It has some volume to it but considering where its 20 day estimated moving average has been, think day trade if any trade.Share