Kimberly Parry Organics Corp (OTCMKTS:KPOC) Climbs Even Higher

For the past seven sessions the stock of Kimberly Parry Organics Corp (OTCMKTS:KPOC) has not registered even a single one ending in the red. Although the daily gains have not been that impressive the stock has still been able to climb from a close at $0.54 on August 18 to a close at $0.67 yesterday. It should be mentioned that $0.67 was the high of the day for the stock.

The problem, however, is that there is absolutely nothing that could explain not only the positive performance but the fact that KPOC are sitting at record for the past 52-weeks price ranges. With yesterday’s gains the market cap of the company has reached $76.8 million. How unreal such valuation truly is becomes obvious after just one look at the latest financial report. KPOC finished the quarter ending February 28 with:

• ZERO cash
• $252 thousand total current assets
• $2.9 million in current liabilities
• $39 thousand in quarterly revenues
• $95 thousand in quarterly net loss

By the end of August the company should file its annual report and investors will see if the balance sheet has improved at all. The possibility of the annual report not being done on time is quite real though. After all, the Q1 report was submitted three months after the required deadline. Not to mention that for the entire 2014 the company has only 2 reports and they were all filed in January, this year.

The share structure of the company is another cause for concern – in five years KPOC have been forced to perform three reverse splits. The 1-for-8000 split from April 2014 left the company with a little over a million outstanding shares. Two months later 152,876,900 shares valued at $0.0001 got issued as a reduction of a note payable.

Without any information about the current state of the company, the latest PR came on August 13 and announced that KPOC has contracted LandGrab, a global branding group that has almost no web presence, investors should be extremely careful when approaching the stock at the current inflated price. If the report does come out by Monday and the numbers inside are still as grim the positive momentum behind the stock could disappear in an instant.