Although All American Pet Company, Inc. (PINK:AAPT)
is no longer a regular SEC filer, nothing has been able to stop its extraordinary chart run for the last two weeks. Yesterday's trade made no exception.
Clocking in at $0.0055 per share, AAPT soared by $0.002, or 57.14%, its sixth surge over the last eight trading sessions and highest close since Aug. 31, 2011. With more than 34.8 million shares changing hands, AAPT set a six-month volume record, as well.
Strangely enough, AAPT's upward trend of the last two weeks or so has nothing to do with corporate news since the last press release popped up in mid-January. However, a brand-new press release has just saw the daylight. As it is, the company's founders reported to have executed a $1 million convertible note with the company bearing an annual fixed interest of 10%. As set out in the transaction, the note is subject to conversion into common stock at fair market value at any time within the next twelve months.
Established in 2003, American Pet Company, Inc. specializes in producing high-quality dog food, as well as super-premium nutritional dog food bars. AAPT's latest product is the alcohol-free PAWTIZER(TM) designed to kill bacteria and germs on dogs paws to protect both dogs and people looking after them.
Until a year ago, AAPT used to file its financial records on a regular basis. Ever since AAPT filed a full-on 10-K form for the annual period ended Dec. 31, 2010, however, the company has ceased to do so, which is why there are no current reports. Anyway, AAPT closed the fiscal year ended Dec. 31, 2010 with:
- working capital deficit of $3.1 million;
- total 12-month net loss of $7.4 million.
Considering the negative figures mentioned above, AAPT's current uptrend seems rather surprising, which only suggests that the balloon will, sooner or later, go up.