Green Innovations Ltd (OTC:GNIN) Gets Dumped

After what seemed as the start of another positive session for Green Innovations Ltd (OTC:GNIN), the dumping started. This further confirms our theory about it being a pump scheme.

At the time of this writing GNIN is trading at about $1.56 – down staggering 43%. Due to the sheer magnitude of the pump budget, and the huge losses investors are looking at, GNIN could bounce on its way down at one point or another. However, ultimately it will end up as all other pump jobs, unless it can actually prove it has profitable operations.

About an hour before the open, the company issued a press release stating it had extinguished some convertible debt and announcing a potential 24% dividend to common stock holders.

If this gets approved by FINRA, it would actually be a 1.24 for 1 forward split, further increasing the number shares held by seed shareholders. The importance of this has been covered in a previous article.

However, seeing how the dumping has already started, by the time the so-called dividend is approved and executed, the whole ordeal may be done. This was a very convenient move for the pumpers. The largely positive initial market response today, allowed them to dump their shares at hugely inflated prices.

I did try to warn our readers this was coming, and hopefully most, if not all, managed to resist the temptation, or at least played it the right way.

With GNIN going into the final stages of the scheme, the biggest pump currently active is Swingplane Ventures, Inc. (OTC:SWVI). While SWVI hasn’t reached the price level of GNIN it is conducted by a different outfit, Awesome Penny Stocks, and it is due its finish some time soon.