At the very start of the 2012 fiscal year, Mojo Ventures, Inc. (OTC:MOJO) changed its name to Mojo Organics, Inc. ‘to better reflect the Company’s service offering as a producer and distributor of natural and organic beverages.’ Four weeks later, the change does not seem to have born any fruit as far as the market value of MOJO stock is concerned.
Rather, MOJO has more or less continued to follow a consistent downward trend. Yesterday, however, MOJO took a little breath of fresh air. Closing trade at $0.18 per share, MOJO gained 16% in value, shifting a volume of 250 thousand. The latter marked a six-fold improvement over the 30-day average trading volume for MOJO.
Ever since MOJO announced a name change, the company has kept silent, which is why you have not come across any corporate updates recently. Paid promotions are nowhere to be found, either. In fact, MOJO shares have not been subject to paid advertising for six months already. As seen on the accompanying chart, carrying out a closed-door policy does not seem to have brought much benefit to the company’s market value.
Based in New York, MOJO Organics, Inc. is a producer of natural and organic beverages. In this respect, the company has designed the so called bottle cap dispenser capable of adding nutrients and flavours to beverages at the time of their consumption. The technology is still patent-pending. In addition, MOJO has also developed an organic sweetener known as Pinch(TM), which serves as a substitute for natural sugar.
According to MOJO’s most current 10-Q, the company’s balance sheet a/o Sept. 30, 2011 reveals:
- $4,500 in cash;
- working capital deficit of $2.2 million;
- zero revenue and a nine-month net loss of $4.4 million.
