Mitsuo Kojima, President and Director of penny stock Horiyoshi Worldwide, Inc. (OTC: HHWW), saw share prices drop -21.76% in the last trading session to $0.205. HHWW.OB stock price is extremely undervalued at its current levels, by almost 37%, trading at less than the cash per share the penny stock reported on its most recent 10Q.
HHWW, the clothing and accessories design and distribution company whose products are inspired by the artwork of Japanese master tattoo artist Yoshihito Nakano – better known as Horiyoshi III, has seen volume on the penny stock almost disappear. HHWW traded 595 shares in the last session, 5 trades of an average size of 119 shares.
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HHWW has dropped -6.82% YTD, -65.83% the last 100 days and -93.79% the last 200 days.
HHWW traded at $7.70 nearly a year ago and has since seen volume slowly disintegrate. The 200 Day Average Volume of HHWW is 14,112 where as the 20 Day Average Volume is a mere 5,388.
HHWW has a market capitalization of $1.30 Million and 6.35 Million Shares Outstanding.
HHWW reported revenues of $532,860 and a net loss of $2,070,444, roughly all of which were General and administrative expenses ($2,009,805), for the nine months ended September 30, 2011 which the penny stock did not incur in the same period the prior year. HHWW also reported Cash and Cash equivalents of $1,744,774 which equates to roughly $0.28 of Cash per Share Outstanding.
HHWW should see a significant increase in revenues in the coming quarters considering that on June 15, 2011, Horiyoshi Worldwide UK Ltd., a wholly owned subsidiary of HHWW, is the owner and operator of the penny stock Company’s first branded retail outlet. HHWW started selling $140-160 T-shirts, $480-945 knits, $600-800 hoodies, and $280-420 scarves in 2009.
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