Agrieuro Corp. (OTCBB:EURI) Gets A Tout
Agrieuro Corp. (OTCBB:EURI) managed to add 95.24% to its market value on Friday, for no apparent reason. Its ascent continues in today’s trading session, but at least now the driving force behind it seems a bit clearer.
There seemed to be no ongoing paid pump campaigns on Friday, even though the ticker behaved as if it was under the influence of one – and a rather successful one at that. However, now it seems that EURI has an unpaid.
Trader’s Choice issued a “report” on it a couple of hours ago, and it is pushing the ticker ever upwards even as we speak.
Unfortunately, that state of developments will probably not last much longer, for one very simple reason – in spite of whatever TC may claim, EURI is far from the most impressive company on the market.
Suffice it to say that this is what its latest report looks like:
- Cash and cash equivalents – $12 thousand
- Total Current Assets – $187 thousand
- Total Current Liabilities – $1.8 MILLION
- Quarterly Revenues – $151 thousand
- Quarterly Net Loss – $95 thousand
So, what we have on our hands is a mediocre looking company, and it is getting touted as the best thing since sliced bread. By now investors should have seen where the next red flag will most likely be coming from – and if they’d guessed “dilution”, they wouldn’t be far from the mark.
The report clearly states that most of EURI‘s current debt is in the form of “short term notes payable in the amount of” $1.7 MILLION. What it doesn’t specify is whether or not said debt can be converted into shares of common stock, and if yes – at what rate. Since there don’t seem to be any other accounts of those notes coming into existence, investors wishing to commit to EURI will just have to live with the risks that represents.
Long story short – EURI may have been hot on Friday, and even in early trading today, but investors dealing with it had better tread lightly, because disaster could be right around the corner.
