Georgi Kamburov

Enviro-Serv, Inc., f/k/a Transfer Technology International Corp (OTCMKTS:EVSV) Surges Out Of Triple Zeros On Record Volume

by Georgi Kamburov October 4, 2013
EVSVchart.pngEnviro-Serv, Inc., f/k/a Transfer Technology International Corp (OTCMKTS:EVSV, EVSV message board) returned with a storm among the most traded stocks. Yesterday after a real buying frenzy traders managed to shift 195 million of the company's stock in just one day. The number represents nearly two thirds of the entire float of EVSV.

The change in price was equally as impressive. The ticker jumped by exactly 40% and finally left the triple zero territory it had occupied for most of the past two months currently sitting at $0.0014.

The likely reason for the sudden enthusiasm is the press release that came early in the morning. In it the company informed us about their next acquisition target - Inland Pest Control. A letter of intent has already been signed but investors should take this with a grain of salt because of what happened with Air Systems Group. On June 4 EVSV announced that ASG is now one of their wholly owned subsidiaries after the acquisition was finalized. But just after two months the deal was terminated due to numerous defaultifications.

Presently the company has only one subsidiary - X-Terminate Pest Management that for the last quarter had revenue of $6600. EVSV themselves are not doing much better:

  • $1340 cash
  • $300 thousand total assets
  • $1 million total current liabilities
  • $6600 revenues
  • $39 thousand net loss

We have to mention that $300 thousand of their assets are written as goodwill. The dismal results coupled with the significant dilution that has taken place during the last couple of months should make investors quite concerned. On August 12 the amount of outstanding shares was just 333 million while as of October 1 it was 490 million. Although in the PR article the CEO said that the dilution was necessary in order to acquire funds and that no shares were sold by insiders the increase is still troubling.

EVSVchart1.pngAn even bigger red flag is the company's involvement with paid pumpers. Under Transfer Technology International Corp (TTIN) they have been pumped numerous times and they continue to be even after the name change. The results of all the artificial hype can be clearly seen in the chart. That is why it is best to do your own research when dealing with any pennystock company.

Another company that made its shareholders extremely happy is Patriot Scientific Corp. (OTCMKTS:PTSC) They exploded by more than 60% to arrive at $0.19 per share.

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