🚗 Ride This Stock Like an ATV

Time to go offroad [Image] Sometimes I get to write about a stock that makes awesome products. Planet Resource Recovery, Inc. (OTC: PRRY) is definitely near the top of the list. This Nevada company acquired MAX Amphibious All-Terrain Vehicle (ATV) product line in late November 2021. And these ATVs aren’t your average outdoor vehicle. These freaking things drive through water like it’s not even there. [vjy-bl1YbW6FwlzFxPh6xQVmHjOJ0cRCQ0rfGY93JAKE9XOcPzbsZkTa1T5jyv0qJqnYehQbJ6cJZuWN_tNDQRvFXmpxvVZklvrvIZgw8v1fTIPgMOweykiVr7vqmTCiNxJTVQTQzRE9e5nIFwvec-o] [Source: MAX ATV Website]( But that’s just the beginning of a fascinating story. Planet Resource Recovery, Inc. (OTC: PRRY) - 1-month trading range: $0.05 - $0.09 - Typical average daily volume: ~240,000 - Float: 350.8 million Bringing Back the Business In 2016, you couldn’t buy a new MAX ATV. The company, which built more than 25,000 vehicles since 1969, ceased to exist. In late November 2021, Planet Resource Recovery, Inc. purchased MAX ATV’s business with the goal of reestablishing this niche market player. It’s a pretty savvy idea when you think about it. With new management in place, PRRY began the process of reestablshing its supply chain and feed assembly, with the goal of launching the new MAX vehicles in 2023. The last update from the company was August 10, 2022, where President Galen Reich noted: The company’s initial focus is on relaunching the recreational/light utility MAX all-terrain vehicle product line using tried-and-true designs to help rebuild the supply chain and achieve acceptance more quickly in the larger global ATV industry, which is still expanding at a rate of over 1,010,000 units per year. However, a recent move by the company on March 6, just a short time ago indicates they might be gaining traction (pun intended). PRRY appointed Rod Hershberger, Chairman of PGT Innovations, as an independent advisor of Planet Resource Recovery Inc. Mr. Hershberger brings a wealth of experience. He led all aspects of PGT, including from engineering to customer Service. PGT Innovations is now a leading manufacturer of impact-resistant windows and doors, with annual sales exceeding $1.4 billion. With Allied Market Research expecting the off-road vehicle market to reach $22.6 billion globally by 2030, this business has a lot of room to run. Financials I was a bit surprised to see the company’s June 30, 2022 quarterly report indicate revenues of ~$5,350. With the lower reporting requirements of OTC pinksheets, it’s unclear if this is $5,351 or some multiple thereof. For now, it’s assumed the numbers are as stated. That puts the company at a net loss for the quarter of $74,266, of which $14,528 were interest expenses. Total operating cash flow from the quarter came in at ($60,040). At the same time, the company reported $1,761 in cash, and $47,406 in inventory against accounts payable of $29,367, accrued expenses of $19,371, and $322,847 in long-term debt. In a nutshell, the company is spending the majority of its money getting things together. The financial statement offers a picture of what they’re spending money on: [sYAxejYtcrseu-WRrxunckbzKhN0-YNj2B-mJX_nVaRjWHeY_5yag7GPIbrStLdmoRuXF50RGTSpJsgBnil8j0DmBqIPvJ5Ta5IDpN0YztuhlTMM-zE-S-dXMkyrQugpdmrBFagZYYklqSbyDT8g9lY] [Source: OTC Markets PRRY Financial Report]( Clearly, the company is working as a bootstrap operation. But that’s not a bad thing either. It tells investors management is being prudent with their money. Nonetheless, PRRY will likely need to raise money either through equity or debt offerings. Promoter Activity At the moment, we’ve only come across one promoter showcasing this stock. The advertorial listed the following as catalysts: - Early-stage investment opportunity Pre-IPO recent offering. - Low-priced stock that is under-the-radar trading at $.01/share. - Recent acquisition jump starts the revenue & profits. - Booming off-road utility market is predicted to sky-rocket to $22.6 billion. - Recent acquisition under new proven management expecting enormous upside. It’s a bit odd that the catalysts don’t include the recent appointment we noted earlier. Nonetheless, it’s hard to argue that any of these are true catalysts. At a minimum, none of them are timely. The promoter also highlighted ‘Strong Buy’ ratings from Investing.com based on technical indicators listed on the website and the moving averages. While that may be true, the limited price action makes these indicators highly volatile. By the time we looked into them for this article, the technical indicators had downgraded to a ‘Buy’ while the moving averages moved to a ‘Neutral.’ Lastly, we found the single promoter highlighting the stock was paid $20,000 for the current campaign. However, the same promoter was paid $20,000 for a similar campaign back on August 10, 2022. On that particular date, volume exceeded 18 million shares while the stock jumped from a prior day’s close of $0.006 to as high as $0.0137 before closing at $0.01. Straight to the Facts While the promotional activity has been sporadic, history has shown it can lead to some healthy price action. With production expected to start this year, don’t be surprised to see headlines hit in the next few months when the company officially relaunches. Always at your service, Baron Von Stocks Disclaimer: Always do your own research and consult with a licensed investment professional before investing. 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