Totally Hemp Crazy (OTCMKTS:THCZ) Closes The Week Red
[[tagnumber 0]][[tagnumber 1]]The stock of Totally Hemp Crazy (OTCMKTS:THCZ) has had a great start of the year which pushed it up the charts in the first quarter, but the ticker has had a hard time keeping to its gains ever since and has been slowly descending in the past months.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]This is all happening while the company is issuing regular press releases, boasting about its business development. Meanwhile, the company filed its annual report for the fiscal year ended June 30, 2015 under the alternative reporting standard and it showed some impressive revenues.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 9]] [[tagnumber 10]]cash: $95 thousand[[tagnumber 11]] [[tagnumber 10]]current assets: $1 million[[tagnumber 11]] [[tagnumber 10]]current liabilities: $1.5 million[[tagnumber 11]] [[tagnumber 10]]annual revenues: $798 thousand[[tagnumber 11]] [[tagnumber 10]]annual net loss: $408 thousand[[tagnumber 11]] [[tagnumber 20]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Surely, those are some impressive revenues. The fact that $729 thousand of them were generated in the last quarter alone speaks about the rapid development the company is undergoing, but the cash reserves still look very small and the current liabilities are quite significant.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]This might be the reason for which [[tagnumber 28]]THCZ[[tagnumber 29]] can’t keep its ground, especially considering the fact that the current market cap is upwards of $45 million. And it came as no surprise that the company stock lost 10.91% and closed at $0.1127 in Friday’s session, despite the positive news coming from company HQ.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Today’s session, however, has started better for [[tagnumber 28]]THCZ.[[tagnumber 29]] The ticker is currently 5.50% in the green, but that is no assurance that things can’t change. Doing your due diligence and weighing out any potential risks before putting any money on the line is absolutely crucial.[[tagnumber 2]]
