Ever since the British Columbia Securities Commission ordeal brought on the sudden downfall of Jammin Java Corp. (OTC:JAMN), the stock has been continually losing value. It had a little rebound on Jun. 28, and now it may be looking for a support.
Last Friday 500 thousand JAMN shares were traded. The closing price was $1.16 , a 0.87% increase.[BANNER]
The more substantial move up, from Jun. 28, was probably in response to a press release about JAMN partnering with BC Coffee & Supplies for distribution in Florida.
JAMN published their amended 10-Q on Jan. 24. For the quarter ended Apr. 30 the numbers looked like this:
- $3.298 cash
- $179,723 total current assets
- $109,686 total current liabilities
- $27,955 revenue
- $181,051 net loss
While generating revenue is a good sign, JAMN may have to do better than a net loss to negate the effect of the the cease trade order by the British Columbia Securities Commission.
