Hangover Joe’s Holding Corp (OTCMKTS:HJOE) Down 50% in Three Sessions

After another three-day run Hangover Joe’s Holding Corp (OTCMKTS:HJOE) very nearly wiped the progress it made in just as many red days. The last three sessions shaved 50% off the company’s share price and HJOE stopped at $0.0039 per share by the bell yesterday.

We have been covering HJOE for a while, hoping things with the company might improve but there are no signs this is going to happen in the foreseeable future. HJOE is a delinquent SEC filer who produces a hangover recovery drink and whose last public report is for the three months ended September 2014, or about 9 months old now. In early November the company reported 331 million outstanding shares. A March 17 Schedule 13G revealed outstanding common shares had gone up to 1.66 BILLION, or common stock had been diluted about 400% within four months.

The company is trading in large volumes and climbing the charts largely because of a hilarious self-promotion campaign conducted through a Twitter account that obviously belongs to HJOE despite being maintained and updated by someone who skipped a lot of English classes in school. It’s difficult to take seriously a company that needs self-validation through social media posts that say “You can believe or not but were real!” (sic), while it’s six months late with its official reporting duties.

Obviously, to HJOE official SEC filings and alternative OTC Markets disclosure are out of fashion and Twitter is the new in-thing, so virtually all company announcements are done using social media. It’s great to see yet another update on Twitter but it would be much better to see actual official filings and get some information on HJOE‘s current share structure.

Until then, HJOE remains a Pink No Info company with all the risks associated with this tier of stocks.