Anastas Gegov

Enviro-Serv Inc (OTCMKTS:EVSV) Drops In Triple Zero Land Once Again

by Anastas Gegov May 21, 2015

Enviro-Serv Inc (OTCMKTS:EVSV, EVSV message board) was stuck at rock bottom for quite some time and the daily volumes posted by the company were very low. More recently, however, we see some increased investor interest, alongside an impressive climb.

 

After a long period of going between $0.0001 and $0.0002 per share some people on the internet began to talk more about the stock and attract attention. We even saw some rumors that suggested a price hike. It did happen and we saw EVSV climb above the $0.001 per share mark earlier this week.

 

Still, that couldn’t last for long. Especially when you take into consideration the numbers that you can find in the most recent financial report of EVSV.

 

  • cash: ZERO
  • total assets: $1.4 million
  • total liabilities: $1.1 million
  • quarterly revenues: $10 thousand
  • quarterly net loss: $35 thousand

 

Definitely looks very depressing, considering that around $1.07 million out of the $1.4 million listed as total assets are in the form of “Organization costs”. Still, the company did manage to generate some more hype around its stock by announcing a franchise agreement with Pestmaster Services.

 

Seeing that EVSV has ZERO cash on hand one begins to wonder on how they will pay for the franchise agreement. According to a recent filing the company wants to raise $511 thousand by selling some 3,409,090,905 shares of its common stock for a price of $0.00015 each.

 

This will, undoubtedly, cause some serious dilution and the massive discount will play a major role in the stock’s price. The ticker has already corrected after reaching $0.0012 per share on Tuesday and fell 33.33% during yesterday’s session for a close at $0.0008.

 

So far, we see that EVSV has been stabilized around the $0.001 per share mark in today’s session, but that doesn’t mean we can’t see any more drops. In any case, be sure to do your due diligence and weigh out the risks before putting any money on the line.

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