while trading 1.5 million shares on the market.Of course, the most reasonable explanation on the huge gain appears to be positive news, accompanied by promotions. Yesterday, H & H Imports reported it has developed a complete line of cleaning products and re-branded the line as “PumMagic(TM).” Previously, the company announced it was testing a single pumice-based cleaning product endorsed by Hulk Hogan, and now it has expanded its product line, planning to launch the products on a global basis.
With the news being released, HNHI was promoted by Shazam Stocks. Although no compensation was listed, the promotion additionally pumped up the stock price and its volume jumped up immediately. Will the up move survive this time is just about to be seen.[BANNER]
H&H Imports, Inc. is the parent company of TV Goods Holding Corporation, a direct response marketing company that develops and markets consumer products for global distribution. Since the beginning of this year, the stock has had sharp price changes, influenced mostly by the company’s press releases and more promotions. Though, each time HNHI was up, the up move was broken shortly. Meanwhile, the quarterly report of H & H contains more assets than liabilities, however, the deficit accumulated during the development stage is higher than $3 million. Besides, as of September 30, 2010 the company’s revenues have decreased and the net loss has exceeded $1 million.
On January 31, 2011, H & H Imports has issued 5,000,000 Units to an accredited investor and received gross proceeds of $500,000 from the sale, however, the sum is not sufficient to cover the company’s losses. As it is stated in the quarterly report, due to its financial condition, H & H needs to find additional financing for its operations, which raises substantial doubt about its ability to continue as a going concern.
