Eventure Interactive Inc (OTCBB:EVTI) Gets a Second Round of Paid Pumps

The first wave of promotional emails for Eventure Interactive Inc (OTCBB:EVTI) started flooding investors’ inboxes at the end of last month and it had an absolutely devastating effect on the stock performance. EVTI was already on the decline when the pump began, but instead of breaking the fall, the artificial excitement simply put additional pressure on the price and the ticker started dropping at a rapid rate. The stock eventually bottomed out at $0.154 per share on November 13 which is more than 90% below the height of $1.62 registered just three weeks prior to that.

In light of the horrific losses, you’d be forgiven for thinking that nobody is interested in the stock anymore. After all, losing almost all of your investments in less than a month is not exactly the most appealing proposition out there. Yet, people don’t seem to be running away from EVTI. On the contrary, they’re jumping in head over heels.

The last red session was logged eleven days ago and since then, EVTI has managed to climb back to over $0.25 per share. We should note that this is little condolence for the people who were buying when the price was still at well over $1 per share, but nevertheless, the stock is moving up which means that we have to ask an important question: “Why is it surging?”.

Unfortunately, it’s the paid pumpers again. The latest batch of emails started flying around after Thursday’s closing bell and in a matter of mere hours, several promotional outfits managed to send out more than twenty alerts. The compensations range from $2,750 to $7,500 so the budget is not huge. The dollar volume of around $205 thousand and the 17% price jump from Friday, however, show that the campaign is working for now.

But is there anything to suggest that this time, EVTI will manage to retain the gains and avoid another horrific crash?

Willingly or not, the company also helped the promotional campaign with a positive piece of news on Friday. They said that the iOS version of their app has gone through its beta testing and that it should soon be available on Apple’s App Store. This is definitely a good sign since, at least theoretically, it should mean that EVTI is getting closer to registering its first revenues.

And it better be. The latest 10-Q was published on November 19 and it shows that the company’s financial situation was absolutely horrific at the end of Q3. Here are the figures:

• cash: $7,497
• current assets: $22,693
• current liabilities: $1,106,381
• NO revenue
• quarterly net loss: $651,574

The pitiful cash reserves are the first thing that draws the attention, but in the interest of fairness, we should note that according to the Subsequent Events section, during the period between September 30 and November 19, EVTI‘s Directors and officers lent some money to the company. They then proceeded to spend a portion of it on… public relations services which involved “direct mail campaigns”.

We’ll leave it up to you to decide whether public relations services and direct mail campaigns is what EVTI needs at the moment. We might as well mention, however, that there are many other ways of spending money in the hope of making your company more recognizable.

Renting a real office space is one of them. The address of EVTI‘s current corporate headquarters is offered as a virtual office solution and it’s fair to say that it’s not doing their credibility any favors.