Bizzingo, Inc. (OTC:BIZZ) chart already looks quite bullish after Friday’s jump up from the bottom, yet yesterday evening a bunch of promoting websites sent e-mails to traders in order to secure another session with an even more positive outcome for BIZZ. 
BIZZ closed on Friday at $0.65, reporting an 18.18% increase from the previous close and trading almost 65,000 shares, a volume more than three times higher than the 30-day average. RSI indicator has crossed the centerline and the MACD lines have also crossed, usually strong signals of a reversal, implying that the stock could jump up once again today. On Friday, the share price went as high as $0.75, which means that there are no resistances up to $0.98.
However, it is not only the chart that suggest BIZZ further short-term appreciation. Late in the evening yesterday, a number of promoting newsletters for the stock came into our database. BIZZ has been featured in 8 promotional newsletters in just one evening, the total compensation for which amounts $82,500. According to the disclaimers, the Bizzingo itself has booked the promotion and it is set to run for two weeks.
Bizzingo, Inc. latest 10-Q is for the quarter ended February 28, 2011 and it shows that at the end of the period BIZZ had assets for around $69,000, while its liabilities exceeded $680,000. Bizzingo has never had any revenue since its inception in April 2009, but since then its accumulated loss goes way above $15 million. The current business plan of the company is not very clear as well, not supporting a market cap of over $47 million.
In March 2011, BIZZ acquired certain assets of Zonein2, Inc. for a purchase price of 2.5 million shares of BIZZ common stock. Thus, BIZZ previous plans to build a social network site for individuals were transformed to building a social network for businesses and commerce, using the features and the functionality of Phreadz and UDM.
BIZZ acquired Phreadz USA, LLC and Universal Database of Music USA, LLC (UDM) in April 2010. UDM had previously acquired a music database and certain search tools, which were valued according to BIZZ latest 10-Q between €9.5 and €17 million Euros and €12 million Euros, respectively, by two third party valuation reports. Though, BIZZ could not obtain a valuation report for the past fiscal year, thus the value of these assets has been fully impaired.
