Are Mojo Organics, Inc. (OTCMKTS:MOJO) Starting to Generate Revenues?
The stock of Mojo Organics, Inc. (OTCMKTS:MOJO) has been gradually picking up momentum for the last couple of months but yesterday it simply exploded by adding nearly 38% to its value and reaching $2 at closing time. In early trading it even briefly climbed to $2.4 but slid back as the session progressed. Still investors showed unprecedented interest in the company and traded volume spiked to record levels of 300 thousand shares. Compared to other stocks the number isn’t that impressive but for MOJO who regularly see days with less than 10 thousand traded shares is quite significant.
The reason investors are starting to notice the company can be found in their recent press release. On June 24 they announced that the first production run of their tropical fruit juices has been completed and more importantly that in early July they will be available in the stores. This kind of news is exactly what the shareholders of the company were desperate to hear.
We thought that another reason for this surge up the stockchart might have been the financial report MOJO filed on June 25. It is a quarterly for the period ending June 30, … 2012! Apparently the OTC Pink Limited Information symbol given to them by OTCmarkets is well deserved indeed. Still lets see what their financial results were a year ago:
- $1551 cash
- $10 thousand total assets
- $295 thousand total current liabilities
- ZERO revenues
- $176 thousand net loss
We cannot speculate when a more current information will be published by MOJO but we certainly hope that they have been able to improve on at least some of the numbers. And with the one-for-ten reverse stock split they did in April, the company will have a lot of room for future issuance of shares.
The big news from yesterday market though is the suspension of another heavily pumped stock. This time SEC questioned the accuracy and adequacy of the press releases issued by Norstra Energy, Inc. (OTCBB:NORX). We have been following the promotion for NORX since its beginning a month ago.
This marked the second day in a row that SEC has intervened to halt a stock. On Tuesday they put a stop to the massive pump scheme that was Biozoom, Inc. (OTCBB:BIZM).
