TOTALLY HEMP CRAZY (OTCMKTS:THCZ) has seen a significant reverse off $0.07 lows after the Company announced ”third quarter financials have been posted and the Company has recorded revenues of $67,663.51 for sales of its Rocky Mountain High hemp-infused beverages in the last two weeks of March 2015. Based on current predictions the Company expects the next quarter sales to be in excess of $700,000.”
THCZ recently made a memorable run from well under a penny in January to recent highs of $0.3137. Like few stocks do THCZ was highly successful in attracting shareholders and capturing the imagination of small cap investors.
The collapse on THCZ started last Thursday after Otcmarkets slapped the dreaded skull and crossbones designation on the stock (According to OTCMarkets group this means there is a possible public interest concern or possible spam promotional campaign) and continued into this week as serious questions arose regarding the founders past as well as the issuance of convertible notes and the recent sudden increase of the authorized shares.
THCZ has challenged the OTCMarkets caveat emptor designation with a letter dated today from their attorney that references all stock issuances. A return to current information would be big here.
In reference to the 0.0739 printed in THCZ afterhours that is a T trade; there is no after hours on the OTCBB or Pinksheets. Any trades you see printed after 4pm eastern are T-trades; when a market maker works a large order for a buyer or seller during the trading day they will ”paint the tape” after the close with the average price the order was filled at.
TOTALLY HEMP CRAZY (OTCMKTS:THCZ) mission is to become the premier hemp beverage company in the world, leveraging their team of professionals to source, evaluate and purchase value-added companies and products, while allowing them to keep their integrity and entrepreneurial spirit.
The big story on THCZ is their Rocky Mountain High hemp beverage drinks that the Company recently launched. Cold Spring Brewery in Minnesota initially produced about 4,100 cases recently for the first shipment to Amazon centers as a first test run. The product exploded off the shelves, incredibly selling out with no money spent on marketing in just 3 hours. Cold Springs will produce 45,000 cases for the next run anticipated to ship in about two weeks.
On April 2 THCZ announced that there has not been any paid promotions to promote the company’s stock. Any newsletters that may have mentioned THCZ have nothing to do with the company in terms of compensation and definitely have not been authorized. The company has no intentions to hire a stock promoter at any time in the foreseeable future.
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The press release from April 6 went on to say ”THCZ has increased the quantity of the next production run by 25% to 60,000 cases of their products in order to keep up with projected sales. The Company expects to have successive manufacturing runs for the next 6-12 months.
THCZ has made arrangements with the North Texas Mountain Valley Spring Water Company in Carrollton, Texas (DBA Water Event) to share their warehouse facilities in Dallas and Austin. Arrangements are being made to transfer the remaining product from the Minnesota bottling plant to these Texas warehouses.
Founder Jerry Grisaffi said “The Company is very aggressively addressing the Caveat Emptor status with OTCMarkets.com. We feel this has been done in error and we are working closely with the compliance department to get this issue resolved in an expedited manner. Investor excitement about the potential for the product being the next ‘Red Bull’ has generated record volume and share price all-time highs last week, and that triggered OTCMarkets.com to place the Company on alert. We believe the Caveat Emptor legend will be removed in the next few days.”
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Currently trading at a $40 million market valuation THCZ has $523,000 in the treasury and a $1.17 million convertible note. They also have small but growing revenues reporting $67,663.51 in sales of its Rocky Mountain High hemp-infused beverages in the last two weeks. The skull and crossbones designation from Otcmarkets took the wind out of THCZ sails with big questions still unanswered. We will be updating on THCZ when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with THCZ.
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Disclosure: we hold no position in THCZ either long or short and we have not been compensated for this article.