A massive amount of love swung towards the penny stock of Greenfield Farms Food, Inc. (GRAS) today all thanks to company CFO, Henry Fong, wiping their books clean of Asher Enterprises. Long known as the most toxic financiers the OTC has ever seen, the dumpage appears to have ended with GRAS stock having its biggest ever trading session since it took over Sweet Spot Games Inc. 3 years ago. With a some fresh slices of pizza now as their trade rather than producing and marketing “grassfed” beef, the bulls were charging and they had a good reason to do so.
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GRAS Stock Quote
Market Cap: 1.04M
Last: 0.0026 ▲ +0.0014 (+116.67%)
Dollar Volume: $1,356,767
Issued and Outstanding: 369,452,534
14-Day Rel Strength: 67.80%
1st Resistance Point: 0.0032
1st Support Level: 0.0015
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Everyone who had been following Greenfield Farms Food already knew that the Company dropped their “grassfed” beef plans and went into the pizza business after they acquired “certain” assets of Carmela’s Pizzeria CO, Inc. back in October of last year. They also were aware that the reverse stock split of 1-for-100 meant that Asher Enterprises was only privileged to receive 20,892,568 shares of GRAS stock which they surely dumped between the time it set a new 52Wk low in November and today’s PR announcement.
The news today which stated that, as a result of purchases by unaffiliated third parties on April 4, 2014, the remaining balance of $38,400 owed to Asher Enterprises had been transferred which deleted Asher from the Company’s books. The news was well received as evidenced by GRAS stock’s largest volume session on record – equal to roughly the amount traded the entire month up to today.
Seeing as how new eyes will be checking out GRAS stock after today’s results, a look closer at Carmela’s Pizzeria is just as important. Not that pizza is new to the Dayton, Ohio area by any means, but when an slice of heaven comes with an iron clad money back guarantee on every pizza, they must have something to them.
From a report in the Dayton Business Journal back in December, it’s interesting to see that:
The Carmela’s Pizzeria chain in Dayton is looking to expand through franchising, PizzaMarketplace.com reports. One of the company’s founders has extensive experience at Sbarro, the site said, and its CEO has was a long-time manager at Cincinnati-based Frisch’s Restaurants Inc. (NYSE: FRS) who also has investments in Dublin-based Wendy’s Co. (NYSE: WEN). Carmela’s was acquired last year by the publicly traded Greenfield Farms Food Inc. (OTCBB: GRAS), according to the Dayton Business Journal.
When you can name drop some big board tickers like FRS and WEN along with Sbarro which used to be listed on the AMEX decades ago, GRAS stock might just be worth holding on to to see how the week goes for them now that they cut the Asher Enterprises umbilical cord.
About GRAS Stock
Greenfield Farms Food, Inc., operating through its wholly-owned subsidiary Carmela’s Pizzeria, is a development stage company with restaurant locations in the Dayton, OH area offering authentic New York style pizza.
Click here to view the SEC filings for GRAS.
Click here to view the website for Greenfield Farms Food, here for Carmela’s Pizzeria.
Last 5 Trading Sessions:
Any time a penny stock has an insanely huge volume session like GRAS did today, the day after usually calls for a pull back (unless it’s a fake marijuana stock). With some fresh faces and a look closer at the 10-K due to come, GRAS stock has it’s rightful place on the watch list for those who have trading accounts that allow for subpenny plays. Ending the session within a pepperoni slice of their HOD makes for a great way to start the week.
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