NoHo, Inc. (OTCMKTS:DRNK) Goes Dark

After a two-day lucky break that sent the share price of NoHo, Inc. (OTCMKTS:DRNK) through the roof, the stock is once more red. Yesterday DRNK closed 11% down on 40 million shares traded but is still well above the bottom end of double zeroes, where it was calmly idling over the past month.

The company went dark yesterday, after formally filing a Form 15 pursuant to Rule 12g-4. This filing means that DRNK essentially chose to let go of its filing obligations with the SEC by formally suspending its duties using Rule 12g-4, which allows a company with under 300 holders of record to go dark.

This move is particularly unsettling in light of recent events. The company climbed 250% within two sessions on zero news, zero filings and while being very late with its due annual report. Both massive green sessions had daily share volumes far exceeding the number of outstanding shares the company last reported. The last available figure for DRNK‘s outstanding shares is the 19.3 million reported back in September 2014.

If you want a figure that is not nearly eight months old, you’re out of luck, it seems. The company’s annual report is nowhere to be found and it won’t be coming, seeing how DRNK filed the 15-12G yesterday, dropping any obligations to report to the public. How many shares are currently issued and outstanding? Hard to tell. If Friday’s daily volume of 61 million shares is any indication, an educated guess would be that there are more than 19 million shares out there. It’s impossible to confirm or deny this with absolute certainty due to the lack of official filings.

DRNK‘s run was also not triggered by something the company announced or did. Another “anti-hangover shot” OTC stock – Hangover Joe’s Holdings Corp. (OTCMKTS:HJOE) went on a green spree recently and DRNK seems to have piggy-backed on this run.

Now that the company has dropped its filing obligations, investors entering at this point are practically taking a shot in the dark.