Kimberly Parry Organics Corp (OTCMKTS:KPOC) Still Climbing
It has been an amazing month for Kimberly Parry Organics Corp (OTCMKTS:KPOC). The company snaked its way out of complete obscurity in mid-2015 and started shifting larger volumes. August saw KPOC power through from $0.45 to over $0.70 per share. Is there any good reason for this excitement, though?
KPOC has been around for a long while, with the public entity registered in 2006. The company tried its hand at a number of unsuccessful business ventures and finally acquired 60% of KP Products – the company of current CEO, Ms. Kimberly Parry, thus shifting the public company’s focus into beauty and cosmetic products.
There is a fascinating and endearing story surrounding the inception of Ms. Parry’s organic product line, which started as a personal project to help alleviate a family member’s skin condition, but investors are possibly more interested in facts and numbers. While the yarn about a businesswoman doing organic substance research despite having no background in biology or chemistry and launching her own products is an inspiring one, the cold hard numbers on KPOC‘s books are far drearier.
Here is what KPOC had to show on its balance sheet as of its last available quarterly report:
- ZERO in cash
- $2.9 million in current liabilities
- $39 thousand in quarterly revenues
- $95 thousand in quarterly net loss
Those hair-raising numbers are also six months old now, as they cover the quarter ended Feb 28. KPOC‘s fiscal year ends in May, but the company filed for an extension and has until Sep 15 to sumbit the new report. This is not terribly likely to happen, given the last quarterly came three months late and the annual for 2014 arrived five months after the submission deadline.
Until the filing shows up, investors are left staring at a mysterious price climb and media appearances of CEO Ms. Parry explaining how all manners of customers are contacting the company and asking for their products. Hopefully those clients are better grounded in reality than recently announced partner – a “global branding group” called LandGrab, who basically don’t exist on the Internet outside of KPOC‘s PR.
