American Green Inc (OTCMKTS:ERBB) has been declining down on the charts since last one month. It even entered into a double zero territory following the decline. Last Friday, the stock price recorded its biggest green session for the past few months. It surged more than 17% on an update that were received by only those people who subscribed to the company’s email alerts.
The update
American Green intends to cut its expenses in the new quarter. The updates were not released through ordinary PR channels. In the past, the company used similar form to release specific news. The email update, which COO Stephen Shearin stated as not being “bulletin worthy”, contained update on the projects and products that the company is working on. Considering the performance of ZaZZZ machines and all the delays related to product launch, it is probably better that the company didn’t opted for any official press release to highlight ongoing projects.
The ZaZZZ buzz
It seems that all the buzz surrounding ZaZZZ is now over as the company has failed to update the shareholders on its latest progress. However, in the update it was mentioned that the ZaZZZ network website work has finally been done. Initially it showed two locations as fully connected and the latest update raises the count to six. It also states that the next ZaZZZ machine to be fully activated will be based in the Exhale dispensary in Los Angeles. It is contradictory to the information provided on website which states that it doesn’t have a Los Angeles machine on list of activated units, or otherwise. The company’s due quarterly filing will provide a better update on overall performance.
In last trading session, the stock price of ERBB declined more than 8% to close the trading session at $0.00750. The decline came at a share volume of 17.39 million compared to average share volume of 20.66 million.
