Allezoe Medical Holdings Inc (OTC:ALZM) has been going downhill since April. Since May, the volume is gone too.
Yesterday ALZM dropped 4.95% to $0.48 on approximately 240 thousand shares. This volume is actually on the high end for ALZM since the beginning of May.
To be fair there, hasn’t been too much to get excited about for a while. The latest announcement by the company concerned ALZM’s Board of Directors. The size of the BoD was increased to 5 members, and 3 independent new directors were elected.
While the new Board members supposedly brought expertise and connections in different areas, the market reaction was quite adverse, and the price dropped following the announcement.[BANNER]
The latest available financial report shows that as of Feb 28, ALZM had:
- $11,349 cash
- $17,539 total current assets
- $2.5 million total current liabilities
- No revenues
- $222,126 loss from operations for the quarter
All in all, ALZM will need some significant events to turn things around. Paid promotions did help in the one month of active trading and surging, but with the actions taken by the SEC the company may decide it’s wiser to stay away from this kind of activities.
