Pumps for Resource Ventures, Inc. (PINK:REVI) Manage to Balance It Out
Yesterday Resource Ventures, Inc. (PINK:REVI) spent most of the session under their previous close but the stock managed to claw its way back to $0.105 per share, closing the day flat. The pump campaign for REVI is doing its best to keep the price afloat, with another ten emails sent yesterday.
The total number of promo mails sent for REVI to date is 55, accumulated within just four short days. The newest touts come from mostly the same promoters and advertise the continuing PR campaign of REVI and the two rapid-fire press releases issued yesterday. One announcement was about a bid placed on an oil concession in Africa through a subsidiary, the other was about the same subsidiary signing a preliminary letter of intent regarding the purchase of solar power generation facilities in Slovakia.
The preliminary deal for the solar facilities is valued at $11.6 million, but payment will be toned down to $3.6 million, as $8 million of debt will be assumed. Even if REVI had the cash to clear the deal without issuing a ton of new shares, traders may be wondering just how lucrative the solar complex is if it has generated $8 million of debt for its current owner.
Here is the brief rundown of REVI‘s consolidated balance sheet as of December 2012:
- ZERO cash
- $246 thousand in current liabilities
- $25 thousand yearly net income
The onslaught of pump emails compensated between $40 and $100 thousand seem to be working wonders for REVI, as the company suddenly started trading after spending months flat on the charts. The initial hiccup of the pump which sent REVI down 20% over this week may have been offset by the new PR pouring out and the grand numbers being tossed about, despite the fact that all information coming out is for preliminary deals and nothing conclusive.
The last pump of promoters The Bull Exchange, currently advertising REVI for $100 thousand, was YaFarm Technologies, Inc. (PINK:YFRM), which landed them another $100,000 in disclosed compensation. To the disappointment of their subscribers, however, YFRM was devastated once the pumping ended, dropping to a current price that is 80% down from the day of the last email.
