Kimberly Parry Organics Corp (OTCMKTS:KPOC) Down 25% in Two Sessions

Yesterday’s session was a double-digit drop for Kimberly Parry Organics Corp (OTCMKTS:KPOC). The stock is now down over 25% down within the span of two sessions. By the closing bell KPOC stopped at $0.55 per share, after 194 thousand shares changed hands.

The company mostly drifted sideways on the charts for the past four weeks but the last few sessions are an all-out downhill slide. KPOC traded as low as $0.45 over the course of yesterday’s session.

The drop took place without any specific triggers that can easily be associated with it. The company released no recent materially adverse information and its last public filing is the quarterly for the three months ended August 2015. The last time KPOC did chime in with a news release was nearly three weeks ago. The brief PR informed the company would be exhibiting its products at a worldwide beauty show in late Q1 2016. The market was not particularly thrilled by the news.

KPOC‘s latest quarterly contained the following balance sheet:

• $37 thousand in cash
• $343 thousand in total assets
• $1.5 million in current liabilities
• $116 thousand in quarterly revenues
• $60 thousand in quarterly net loss

While the figures are underwhelming, there is obvious improvement in the books, as KPOC was cashless as of May 2015 and actually generated nearly half of its last annual revenue over the course of a single quarter.

This doesn’t really mean that a market cap of $63 million is easy to justify, given the financial performance of the company and the considerable amounts of very cheap shares that were issued in early 2015. KPOC issued 10.8 million shares to clear just $10,000 worth of debt in Feb 2015.