Hangover Joe’s Holding Corp (OTCMKTS:HJOE) Speeds Back Towards Triple Zeroes
After very nearly hitting one cent per share last week, the share price of Hangover Joe’s Holging Corp (OTCMKTS:HJOE) dropped 63% over the four sessions so far this week. Yesterday the precipitous slide the company was already on intensified and HJOE crashed another 25% to stop at $0.0029 per share, after 273 million shares changed hands.
The company is, as you may have guessed, still delinquent in its filings, but very, very active on social media pages. Despite the lack of any official financial reports since September 2014, HJOE is doing its best to reassure investors everything is peachy and the company is completely steamrolling the market with its products, while signing deals left and right, including one with a major partner. Too bad that all of this is coming through a Twitter account and is not backed up by anything official or binding.
This big partner that HJOE goes on and on about is never mentioned, and it seems the company has no intentions of announcing who it is “anytime soon” as per another tweet, due to alleged non-disclosure clauses. It’s impossible to find out whether this partnership even exists for certain, as the company never mentioned this fabled partner anywhere outside of Twitter. There is no official filing or even an official PR announcement that mentions this partner in any way. This means that when it comes to this elusive partnership, investors just have to take the word of someone who can’t tell the difference between “our” and “are” when spelling.
In addition to the lack of filings and any current financial information, as well as the ongoing Twitter self-hype campaign, there’s also the matter with HJOE‘s share structure. The company has 331 million outstanding common shares as of Nov 12 last year. On March 17, 2015 a certain Tangerine Investment Group, LLC held 166,666,666 common HJOE shares and those comprised 9.99% of the company’s total outstanding, which in turn was around 1.6 BILLION.
This means HJOE diluted its common stock just over 400% within the space of four months – no small achievement even for a pink sheet. It’s impossible to tell what the current outstanding share figure is due to the lack of official filings from the company.
