Agrieuro Corp (OTCBB:EURI) Continues Completely Unfazed
Many things could make you think twice about investing in Agrieuro Corp (OTCBB:EURI). For one, the stock is being pumped and the people responsible for the campaign are the same ones that have completely destroyed America Resources Exploration Inc (OTCMKTS:AREN) over the last several months.
“Destroyed” really is the most accurate word to describe what the pumpers did to AREN. Thanks to them, the ticker did manage to reach a 52-week high of $1.30 back in August, but right now, just three months later, it’s sitting at $0.03.
A lot of people lost a lot of money on AREN and some of them are now understandably angry with the pumpers and the promoted company. One of them, George Sharp, recently announced that he will sue both the promoters and AREN because he reckons that some anti-SPAM regulations have been broken. On Friday, he said that EURI is being added as defendant in the lawsuit as well and many people thought that this will drag the ticker down.
It didn’t. In fact, EURI stopped the fall it was experiencing prior to Mr. Sharp’s press release and after a 14% surge, it managed to bounce back above the $0.60 mark.
This is partly due to the latest wave of alerts that came courtesy of Smart Stock Choices and Best American Stocks, but it’s also due to a press release issued by EURI themselves. They decided not to comment on the fact that they are being alleged of participating in what Mr. Sharp calls “a pump-and-dump scheme”, and instead, they said that they have sold out their entire reed harvest.
This should have an effect on the future financial statements, but we’ll need to wait for a very long while before we learn what it is and that’s a bit of a problem considering EURI‘s current situation.
Someone has paid more than $500 thousand for the ongoing promotion which means that that someone is probably eager to see how much of the cash can be brought back. The truth is, if that someone is among the people who bought a grand total of 2.1 million shares at a price of $0.01 per share last year, he/she is in luck.
As we mentioned in some of our previous articles, those 2.1 million shares were outstanding back in September when EURI effected a 40 for 1 forward split which means that the people who paid $21 thousand for them suddenly found themselves holding on to exactly 84 million shares. At the moment, the market value of 84 million EURI shares sits at around $51 million.
