Resource Ventures, Inc. (OTCMKTS:REVI) Jumps On Annual Results
There has been quite a lot of interest in the stock of Resource Ventures, Inc. (OTCMKTS:REVI) recently and it has managed to go far above the one cent line, despite regularly ending its sessions in the red.
The company is doing its best to keep up the hype after the paid promotion from the beginning of the month and is regularly issuing press releases. One of the latest PR’s announced the plans to issue the first print of “The Hemp Nation Magazine” that they are working on with Hemp, Inc. (OTCMKTS:HEMP) on July 4 this year.
These news didn’t manage to make much of a splash when it was posted on February 14 and the stock even slid 8% the next day. Yesterday, however, the company announced its annual results for 2013 and we can say that they are decent.
- cash: $0
- current assets: $489 thousand
- total assets: $778 thousand
- total liabilities: $496 thousand
- revenues: $2.3 million
- net income: $166 thousand
The news brought a good 39% gain in yesterday’s trading and REVI closed at $0.06 on quite the volume. We saw a total of 70 million shares being traded through the session, which generated some $4.5 million in dolar volume.
Putting aside the fact that the company has absolutely no cash at hand it is at least good that they are making big revenues and managing to operate at a profit. Still, that doesn’t mean that things will go smooth from here.
REVI remains to be a speculative stock which is widely discussed on investor forums and has a tendency to sway in both directions. This makes it quite risky and most of the people who bet on it go for a short-term play.
This being said, REVI continues to be a stock best to be avoided, but if you do decide to make a bet be sure to do your due diligence and weigh out the risks for yourself.
Growlife, Inc. (OTCBB:PHOT) and Cannabis Science, Inc. (OTCMKTS:CBIS) on the other hand, ended the day in the red, but the losses were minimal.
