Growth – this is the prevailing notion for Cono Italiano Inc (OTC:CNOZ) this week. Last Wednesday the key word was “expansion”, this Wednesday it is “investors”. The idea behind – securing financing for operations in 2011. Considering the last quarterly statement, this might be a good idea indeed. 
After the explosion on the stock market last week, now CNOZ seems to be settling down. The last two sessions were ones of positive development, but not as great as a week ago. Yesterday session closed at $0.071 per share, supported by more than 8 million shares exchanging hands. On the other hand, while the promotional wave from last week is over, alerts continue to come like the one from yesterday. It is not, however, news alone to focus your attention slowly, but balance sheets as well.
Speaking of balance sheets, the last 10-Q came out on Friday. It covers a period with an end date March, 31st this year and includes interesting data in it:
- $760 in cash;
- $175k in total current assets;
- $1,1 million in total liabilities
- $0 in sales;
- $130k in net loss; [BANNER]
Again, Cono just announced that it is in ongoing negotiations with investors. Given the above numbers, it just might be better if the negotiations are successful. The most interesting figure, however, is the sales. No sales for the first three months of the year. Peculiar number, given that this is a fast food concept at hand. Besides, there are sales figures for 2010 indicated in the 10K statement.
On a related subject, an interesting point comes up when considering the cash at hand and the announcement from last Wednesday. So, this May, 18th Cono announced expansion. The company said to have entered into an agreement to purchase the necessary manufacturing equipment for their expansion of the frozen food product line to be launched in 2011. Yet, as of March, 31st. the company had less than one thousand dollars in cash handy.
Nevertheless, the stock stays at a level way above that from previous months. Given the above peculiar facts and figures, however, it is hard to make a qualified assessment what the stock price would be in the weeks and months to come.
