There isn’t much happening today as far as penny stock promotions go, but traders are likely to roll the dice that Bluforest Inc. (BLUF) won’t get cut down to under $1 or try to catch some profit rays on Interactive Leisure Systems, Inc. (IALS). However, if you’re hungry for a low share structure with an appetite for gains, you may want to look into Healthient, Inc. (SNAX) which has been on a run since the start of July. With their wholy-owned subsidiary, SnackHealthy Inc., having made “better for you” snacks available direct to consumers in May, SNAX stock might have a bit more bite left in it before the 10-K is filed.
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SNAX Stock Quote
Market Cap: 3.16M
Friday Close: 0.10 ▼ -0.022 (-18.03%)
Issued and Outstanding: 31,610,078
14-Day Rel Strength: 49.27%
1st Resistance Point: 0.116
1st Support Level: 0.0859
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Prior to Healthient opening up a direct-to-consumer window through SnackHealthy, the Company’s products were only available through a network marketing channel and through independent distributors. The window of opportunity which Healthient opened now gives them a chance to book some better numbers in the revenue column even if they have to offer a discount of up to 30% percent on their most popular snacks.
Q3, the period ended March 31, 2013, was abysmal for Healthient. Sales declined for the 9 months ended to just $160,140 versus $243,925 for the same period the year prior. Revenues for the 3 months was just $6.700 – the amount a strongly positioned vending machine can bring in in under a week.
Whether it’s freeze dried fruit or regular dried fruit, LOLIBARS or LOLICRUNCH, the real reason why SNAX stock is down -96.67% since October 1 is because the HUGE increase in general and administrative expenses. Nearly doubling during the 9 months ended March 31, 2013 to $6,201,700 compared to the same period the year prior is simply unjustifiable when revenues have declined to near pocket-change.
If the market for snack foods in the U.S. is predicted to reach $77 billion by 2015, up from $56 billion in 2006, fueled by reduced restaurant dining, busier lifestyles and rising health concerns, then Healthient had better snap into a Slim Jim if SNAX stock is going to continue this recent bounce.
There was 118,493,410 shares of common stock issued and outstanding as of September 25, 2012, 59,371,736 (50.10%) of which was owned by Director, CEO and President, Katherine West (7,938,168 or 6.70%) and Director William Alverson (51,433,568 or 43.40%). If those percentages were translated correctly into the reverse split, then one can expect to find that West now owns 158,736 shares of SNAX and Alverson just 1,028,671, less than 5% collectively as of March 31, 2013.
Interestingly enough, after the 1-for-50 reverse stock split back on October 1, 2012, there was only 2,394,567 shares of SNAX stock outstanding as of October 11, 2012 (the date of their last 10-K filing). However, an additional 29 million shares were issued during the course of the next 9 months, 13,800,000 of which were used to pay down debt and 15,008,000 issued to pay for services.
Whatever is making SNAX stock a hot penny stock is surely not the management’s ability to effectively execute their business model. They say on their website: “We want all brand partners and associates to know our values so well that if we threw out all the policy manuals, we would still make decisions based on our understanding of our culture and these values.” How about just stop LOLI-gagging around and sell some product!
About SNAX Stock
Healthient, Inc., and its wholly owned subsidiary, SnackHealthy, Inc., is a development stage company focused on developing and marketing snacks and beverages with the objective of making healthy eating a fun experience for the entire family.
Last 5 Trading Sessions:
The financials for SNAX have been weak for some time already which is why the stock dropped over -96% in less than a year. Whatever has caused SNAX stock to rebound since bottoming out at the start of July is a catalyst in and of itself for this penny stock to be watched.
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