American Green Inc (OTCMKTS:ERBB) Delves Closer to Triple Zeroes

After closing red for the fourth time in a row, yesterday American Green Inc (OTCMKTS:ERBB) hit a brand new 52-week low. The stock touched $0.002 at its lowest intraday point on the chart and eventually closed at $0.0025 per share, 3.8% in the red. Volume picked up significantly, at over 84 million shares traded and was the heaviest since early March.

The company managed to drop nearly 50% within the last month, after closing at $0.0046 on July 7. It doesn’t look like any sort of announcement from ERBB can excite shareholders much at this point. The steady march down the chart for the past three months was never broken for more than a couple of consecutive sessions.

It should probably be noted that the last time ERBB‘s ZaZZZ machine was the focus of company PR was back in early May. Even though the last year and a half has been one long, painful, laborious push to get the ZaZZZ out in the world and grow the company’s vending network, it seems ERBB has all but given up on the ZaZZZ.

The ZaZZZ Network website still has only a fraction of the functionality that ERBB promised in February, the number of installed machines listed on it is now lower than it was a few months ago, suggesting the return or removal of ZaZZZ units from some locations.

ERBB has suddenly grown very interested in a number of other projects. This is of course described as an attempt to diversify the business and ensure as many different means of generating revenues within the broader framework of the medical marijuana business. However, there have been a number of similar supposedly synergistic partnerships and acquisitions carried out by ERBB that led to absolutely nothing at all in terms of sizable new revenue streams, with the two possible exceptions being OG Tea and Truth Lighting.

ERBB increased its authorized shares by another 3 billion in July. True to COO Shearin’s word, there is obviously not going to be a reverse split of the company’s stock – instead ERBB carved out new room to accommodate the millions of dollars worth of convertible debt that noteholders can choose to turn into shares at a 50% discount from ERBB‘s lowest closing bid price for the last 12 months.

ERBB recorded net loss of $1.23 million in its last reported quarter. The company’s annual report is due by the end of September.