Another Day, Another Pump for Resource Ventures Inc. (PINK:REVI)
After we last left Resource Ventures Inc. (PINK:REVI) they were quietly simmering around $0.035 per share. But yesterday signs of resurgence were shown as they gained 33% and reached $0.048. Investors once again returned to the stock and more than 2 million shares were traded.
REVI were almost devastated when the extensive pump on their stock came to an end and they lost more than 85% of their value. Now Research Driven Investor and most of its affiliates have decided they can do better and started touting REVI by sending more than 20 alert emails in a single day. While the bigger part of the promoters are expecting compensations ranging from $4000 to $7500, RDI disclosed that to date it has received $140 000 to profile REVI for two one day investor relation campaigns.
Trying to do its part in the hype generation REVI decided to rely on one of its old tricks – announcing that it signed a letter of intent to form a joint venture with Petroskandia AB of Sweden. That makes it their third for the last month or so. Just to remind you the company has a letter of intent with a renewable energy producer in the Czech Republic for the purchase of solar power production facilities in Slovakia and another letter of intent with Next Space Solutions LLC of California anticipating a series of joint ventures with them.
If any of those projects will ever see the light of day is rather doubtful as REVI‘s financials leave much to be desired. According to their annual report they have:
- zero cash a/o Dec 2012
- $246 thousand in current liabilities
- $25 thousand in yearly net income
The promoter David Cohen back in March was part of another disastrous pump on Buyer Group International, Inc. (PINK:BYRG) that lost the savings of many investors.
We expect some of REVI‘s pumpers to stick around for a couple of days so the ticker may continue climbing upward but investing in them is a risky endeavor best left to the experienced traders.
