Frozen Food Gift Group, Inc. (OTCMKTS:FROZ) Stalls on Lack Of Fresh PR
Frozen Food Gift Group, Inc. (OTCMKTS:FROZ) is freezing, after a few weeks of heated price gains. Last week, the price drifted sideways, and on Monday the ticker corrected by a further 12$ to $0.0182. Dollar volumes were significant at $1.11 million, wiping out the buying from Friday.
Unfortunately, FROZ lagged with its press releases for a while, and this had an immediate effect on the stock price. The robust gains from double-zero positions also may have prompted another bout of profit-taking. Now, FROZ still hangs at a rather high price, and poses the question of where it would go from the current levels.
Unfortunately, the OTC page for FROZ lists a warning about difficulties selling, since the trading includes unsolicited orders. The OTC puts out a SEC link suggesting that FROZ may be promoted aggressively, although so far we have not intercepted another concerted campaign.
For now, FROZ focuses on touting the products of APT Group, the producer of MotoVox sports products. Recently, the domain Motovox.eu was registered, perhaps pointing to further developments for this company. The recent rise in stock price is in part due to the finalized acquisition deal that made FROZ the vehicle for APT Group to trade on the OTC markets. Now, FROZ is effectively a seller of mini-bikes, and may dig itself out of the financial hole that it dug out with the frozen products business.
The new 10-K statement shows some improvement compared to the September 30th results of last year, but still nothing revolutionary. We still have to wait and see the contributions of the mini-bike business, but without it, FROZ is surviving on:
- $1,112 cash
- $2,725 total assets
- $1.25 million total current liabilities
- No marked revenues in 2013
- Yearly net loss above $560,000
On the positive side, the posting of the 10-K on April 15th did not damage too much the general upward momentum. Now, it’s a wait and see if FROZ will be active with more updates on the prospects of the Moto Vox brands. Hopefully, the ticker will also escape dramas related to other promotional efforts on the side.
On the positive side, FROZ is one of the growing stocks that is an alternative to the pervasive MMJ companies boom. With a relatively low price, FROZ may continue to attract investors with its growth prospects.
On the other hand, World Moto, Inc. (OTCBB:FARE) also had amazing prospects, but for months on end remains stuck at the same price, testing the patience of investors who believed in the longer-term prospects. FARE drifts sideways around $0.10.
What is hopeful is that APT Group managed to finalize the merger this time. A few months ago, the motorbike company tried to join efforts with Pro Tek Capital Inc. (OTCMKTS:PRPM), but the deal fell through.
So if you still would like to grab FROZ, keep in mind that you may need to absorb a correction or wait out a prolonged stagnation.