"Here is a little riddle – what is on the pink sheets, is late with its report and is over 1000% up in six sessions, despite a complete lack of new press releases or filings within that time? The answer to that would be Hangover Joe's Holding Corp. (OTCMKTS:HJOE, HJOE message board).
"The stock was twiddling its thumbs, deep in triple zeroes prior to the spike, which happened despite a complete lack of any press releases or new filings coming trough within the span of the six-day crazy run. The only thing that seems to be pushing HJOE up is the incessant spam of Twitter posts, coming from an account which we previously perceived as being associated with the company. In light of the recent posts published through said account, however, we now find it highly doubtful there is any affiliation between HJOE as a public company and this particular Twitter user.
"The account in question was previously pushing out loud, grandiose promises of how the stock will deliver in the long term and what great things were coming for HJOE. It has now switched from simple, cheap and unsubstantiated hype to actual abuse and violent threats, directed towards Ms. Janice Shell. Ms. Shell is known for previously investigating a number of penny stock companies, including Southridge Enterprises and Citadel EFT Inc., both companies suspended by the SEC at a later date. It seems Ms. Shell is now onto HJOE and whoever manages the abovementioned Twitter profile thinks it's OK to spout profanity and violent threats aimed at her, while still pumping HJOE stock.
"Social media mud-slinging aside, HJOE is not in a particularly favorable position at the moment. The company is still late with its annual report for the year ended December 2014. There is also the matter with HJOE's share structure. How many shares are currently outstanding is something of a mystery.
"As of late March HJOE had 1.74 BILLION outstanding common shares. This number is up from November's 331 MILLION. The potential for further dilution is next to unlimited, with HJOE upping its authorized share cap to 5,000,000,000.
"With just under $50 thousand in the bank, a red bottom line in the last reported quarter and a late report and an unclear current share structure, combined with a share price below a penny, HJOE remains a pick that traders should research thoroughly on their own."
AI
