Pumpers stayed up late to tout Resource Ventures, Inc. (PINK:REVI
, REVI message board
), with promo emails coming through in the small hours yesterday, then trickling in until the evening. Despite the fact that REVI crashed 31% on volume comparable to the last few sessions, the touts kept coming.
Promoters were not disturbed by yesterday's crash and the evening touts were about the 'opportunity' the lower price presents, squished by evil shorters. It's only natural that the promoters are doing their best to pump REVI, considering they are expecting to bag between $50 and $100 thousand for their efforts.
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.
The 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.