Green Envirotech Holdings, Corp. (OTCMKTS:GETH) Supported by Pumps

Green Envirotech Holdings, Corp. (OTCMKTS:GETH) is having a cheerful period of relatively high volumes and a rising trend in its stock price. On Monday, the stock grew a further 10% to $3.85 and 50,000 stocks sold. This period is the consequence of an emailed promotion plus several press releases stating GETH is ready to expand in the energy business.

The latest news from the company is an agreement for cooperation with Khashoggi Holdings of Jeddah, Saudi Arabia. The Saudi company agreed to use a novel technology for upgrading heavy crude oil. The technology was developed by a partner of GETH, Petrosonics LLC.

GETH seems to be moving fast, since it has been partners with Petrosonics only since May 2nd. Also, the company claims it recently acquired a refinery license. These are the financial data that would go with the expansion:

• $48,236 cash

• $53,520 total current assets

• $4.9 million total liabilities

• Zero revenues

• $662,504 net loss

The company is currently priced a little above $9 million, and with just 2.6 million shares outstanding. Until 2010, the ticker stood for Wolfe Creek Mining, and the main stated activity is a plastic products business. There seem to be no announcements for insider transactions of late, beyond an initial ownership package of 1.2 million shares for officer Leggett Wayne H. The company became current on its SEC filings only in the summer of 2012.

In 2011, GETH started trading at $110 and decreased its price after a stock split. There is little chance that the ticker will revisit the 2011 levels of $40, but it could add value in the next few days. But the current price was only achieved by a share decrease of 100 to one at the end of March. This seems to be a preparatory move for a promotion through PR messages and emails, as GETH started to look more respectable.

The May 6th email is from StocksThatMove.com, and in the fall of last year the ticker was taken up by Inside Bulls. The November pump caused the absolute record in buying volumes, exceeding 150,000 shares. It seems the current pumper is a one-off promoter, dealing only with GETH and promising to deliver a stock that would trade in the $5-$15 range in the next six months.