Green Innovations Ltd. (OTCBB:GNIN) Breaks Silence
Yesterday, after 10 days of silence, Green Innovations Ltd. (OTCBB:GNIN) issued a press release. Much to the disappointment of traders, it was just another bath tissue order from Cardenas Markets, Inc.
GNIN has been slowly losing ground over the past two weeks. Yesterday’s announcement wasn’t enough to reverse that course. At the end of the day GNIN closed down another 6.41% at $0.73 per share on 2 million shares.
While the paid pump was still going strong, GNIN was issuing press releases almost daily, and those were about enough to keep believers happy. That time has now passed.
The last time GNIN had a significant positive close was Apr. 16 when the company announced the appointment of Philip Rundle as CEO. That was also the last day we got emails from the newsletters paid to tout GNIN.
The next date GNIN shareholders should be interested in is May 15. By then, GNIN is supposed to file the financial report for the first quarter of 2013. The numbers in the annual report for 2012 didn’t live up to the hype created by the pumpers and the company management:
- $45,743 in cash
- $313,921 total current assets
- $292,393 total current liabilities
- $232,955 revenue
- $1.2 million net loss
If there isn’t a significant improvement, things may get much worse for GNIN.
