Pumpers Keep Gnawing at Resource Ventures, Inc. (PINK:REVI)
After taking a breather for just two days, promoters are back, touting Resource Ventures, Inc. (PINK:REVI) in two more emails that came through on Saturday. The song remains the same, it seems, with the pump mails reiterating their previous touts.
It’s understandable why pumpers refuse to let go of REVI – with $100 thousand paid for advertising the stock, it’s natural that they will keep trying. We have monitored REVI for some time, starting shortly after the initial pump campaign dragged the stock out of its flatline status of zero volumes and prices hovering at 2 – 3 cents per share.
To the pumpers’ credit, the massive promotional campaign managed to lift the price after the first drop, giving savvier investors a chance to get out and still profit. The second crash, however, brought the stock 50% down from the pump’s peak and it will be much harder to bounce back from here.
The new touts for REVI mostly chew over the same old press announcements, adding the latest bit of news from REVI – a letter of intent for joint ventures with a privately owned small business in California. Sadly, this is just more forward-looking statements and expectations that cannot change the current financial situation of the company:
- zero cash a/o Dec 2012
- $246 thousand in current liabilities
- $25 thousand in yearly net income
A pink sheet company that manages to turn yearly profit, even if it’s that humble, is a good thing. The fact that such a company is being pumped to high heaven, with about 100 emails sent since March 18, is not, especially when promoters feed investors optimistic news releases concerning multimillion deals that the company seems to be able to finance only by issuing tons and tons of new shares.
The promoters at Gain the Green previously offered traders other overhyped picks that lost a lot of cash for hopeful newcomers. Their previous effort was an extended pump job on YaFarm Technologies, Inc. (PINK:YFRM) that ran for a while and then took a nose dive, ending up 80% down from the spike of the pump as of its last close.
