Totally Hemp Crazy (OTCMKTS:THCZ) Takes Another Step Down
Contrary to the expectations of Totally Hemp Crazy (OTCMKTS:THCZ)’s supporters, the new week didn’t bring the ticker a rapid recovery, but rather another unfortunate stumble.
Truth be told, THCZ has recently taken some serious steps in the right direction. The company’s alleged success in selling its Rocky Mountain High energy drink through Amazon.com, Inc. (NASDAQ:AMZN) and the contract it has signed with Dr. Pepper’s bottler in Oklahoma are not achievements that should be dismissed straight out of hand.
Still, prudent investors would do well to keep a cool head and look at the other side of the coin. And that other side is far less bright and impressive.
The company’s newest achievements haven’t been disclosed in an official filing yet, and what little information we currently have on THCZ is not really all that reassuring:
- Cash – $523 thousand
- Current Assets – $724 thousand
- Current Liabilities – $1.2 million
- Quarterly Revenue – $68 thousand
- Quarterly Gross profit – $21 thousand
- Quarterly Net loss – $345 thousand
This statistic does not necessarily mark THCZ as a bad company. If it successfully sells out on Amazon, it may well turn profitable soon. However, as of now it is unclear whether or not it will manage to do so, and with a market cap of $76 MILLION, its stock is severely overbought.
Investors should take all of this into consideration and act accordingly.
