Bizzingo, Inc. (OTC:BIZZ) is developing Bizzingo.com, a business-to-business social network. The stock of the company has been highly illiquid, but last Friday was unexpectedly active.
BIZZ closed up 60% at $0.24 on nearly 950 thousand shares, although there were no new filings, promotions or news.
There was news but it was released earlier this month. BIZZ engaged former Red Skins’ quarterback, Joe Theismann, as spokesman.[BANNER]
The latest financial report of BIZZ didn’t look much different from those of other development stage companies. BIZZ isn’t generating revenue, has limited assets, and significant working capital deficit.
The B2B network idea is not exactly unique and the company will be facing an up-hill battle trying to get things going.
Additionally, it seems Douglas Toth, President and Chairman of BIZZ, has had some problems with the SEC in the past.
At any rate, at this point BIZZ doesn’t have much to boast about. There is still a chance things may work out, but there is nothing to explain yesterday’s surprise activity.
