Todor Pichurov

Resource Ventures, Inc. (PINK:REVI) Goes Down a Third Amid Heavy Pumping

by Todor Pichurov March 27, 2013

The pump touts remain mostly the same. One is the recent acquisition of Global Energy Management, Ltd. (GEM) in a deal that the pumpers say is valued at $10 million. The company's filings reflect the acquisition consisted of REVI issuing 130 million shares to GEM valued at $130 thousand, in a contract signed back in August. Strangely, the press release for the acquisition popped up only last Monday, on the day the pumps drove REVI up 400%.

The promoters also tout the company's 2012 revenue, which was in excess of $1.5 million, failing to mention some other aspects of REVI's financials. Here is what the company's latest report, a yearly for 2012 contains:

  • zero cash
  • $246 thousand in current liabilities
  • $1.5 million revenue
  • $25 thousand net profit

The fact that REVI is cashless is even more worrying in light of the recent news released that the company intends to acquire solar power facilities located in Slovakia against $3.6 million in direct payment and the assumption of another $8 million debt of the facilities' current Czech owner. The deal is still not finalized and is just a letter of intent as of yet.

4YFRM_fail.pngThe last pump job of promoters Best Penny Pick who are still touting REVI was YaFarm Technologies, Inc. (PINK:YFRM). The promo emails drove the stock up to $0.32 per share before running dry on Feb 25, with YFRM taking a nose dive to $0.05, currently trading at $0.069 or nearly 80% down from the spike of the pump.

Considering the $150 thousand pump campaign for REVI and the fact that the stock was sitting idly at 2 cents before the pump, there seems to be nothing stopping the price from slipping back down to its old levels once the promoters stop sending alerts to their subscribers.

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