The Pump For Emo Capital Corp. (OTCBB:NUVI) With Disastrous Results
Another day, another disaster of a pump. This time the target was Emo Capital Corp. (OTCBB:NUVI) who fell by 24% on the very first day of touting taking along the savings of many who believed the alert emails. This horrendous result is just the last one in the string of recent pumps that sufferd a train wreck of session on the moment they began.
The first ticker that got crushed was US Energy Initiatives Corporation, Inc. (OTCMKTS:USEI) who bombed by nearly 30% after the massive 84 million shares were dumped on the market. On the same day, June 19, Prince Mexico S.A, Inc. (OTCMKTS:LUVE) also followed suit and got flattened by their respective pump and plummeted by 60%. On the next day came the $500 000 promotion for African Copper Corp. (OTCBB:ACCS). 107 million shares were sold and 75% of its value lost in a single day. American Graphite Technologies Inc. (OTCBB:AGIN) was the only company that managed to stay somewhat stable and on the worst day of its promotion dropped by only 8%. And now there is NUVI.
The moral of the story is that doing your due diligence is paramount when dealing with pennystocks. You shouldn’t take anything being said by the alert emails at face value. The best thing to do is to take a look at the company’s financial records. Many investors would have saved themselves a lot of headaches if they saw the quarterly report NUVI filed for the period ending April 30:
- ZERO assets
- ZERO revenues
- $47 thousand total current liabilities
- $5600 net loss
These number are so dismal that no further elaboration should be needed to paint the picture. The pump scheme becomes even more obvious when you factor in the 14 million shares (after a 7-for-1 forward split of course) sold to sole director of the company for just $2000 back in 2007. Or in other words he paid $0.0001 per share. A year later the company sold 21 million shares for the total of $30 000, or $0.001 per share. They stand the gain millions even at the current price of NUVI‘s shares of $0.11.
Even SEC has been forced into a flurry of activity by the massive promotions that have been going on in the past months. They suspended the stocks of both Norstra Energy, Inc. (OTCBB:NORX) and Biozoom, Inc. (OTCBB:BIZM). Investors should exercise even more caution when contemplating which company to choose for their trades.
