PZOO is one of the dozens, if not hundreds of OTC scams that carpetbagged its way into the pretend medical marijuana industry after finding that hawking pet products and the like didn't create enough sizzle to line insiders' pockets with cash from stock sales. While it has not been able to utilize its new found interest in MMJ to fleece the public to the degree of Pump & Dump master schemes FITX or ERBB, PZOO's masters obviously wish that it could. They are trying hard to come up with some announcement that will pique
Tellingly, in spite of numerous references over the years to the development of its website, at the time of this writing, there is nothing there.
That the company has amassed only token tangible assets during the course of all this stock dumping--at last report $17K in cash and just over two grand in some sort of inventory--is not the only reason to be concerned about this emboldened share selling scheme. The number of shares outstanding has increased by 580% since the end of 2013, with no value received. It's hard to imagine how PZOO could legitimately post $1.37 million in operating expenses for its last reported quarter. It can't of course, as the company does nothing and has accomplished little save for the frantic printing of stock certificates.
It's about to get worse.
The new Pump & Dump campaign comes on the heels of PZOO's June 29th SEC filing in which the company announced that it intends to increased the authorized number of shares from one billion to three billion. You had better believe that the company intends to issue every one of those three billion shares in short order, resulting in a 350% increase over the last reported number of shares outstanding of 660 million.
Apparently, management is planning for most if not all of the 3 billion shares to hit the street. Within the same filing, PZOO also let it be known that it intends to increase the voting power of its Series B Preferred shares to 1,000 votes per share from the current 200 votes per share. This is a move intended to protect the fraud artists' control over PZOO after they divest themselves of their common share holdings. Afterwards, they'll be free to issue themselves more unearned stock which will follow a likely wiping out of the bag holders through a reverse split.