Eventure Interactive Inc. (OTCBB:EVTI) Jumps On News
Eventure Interactive Inc. (OTCBB:EVTI) managed to surge 21.05% up the charrts yesterday, after announcing that it will be retiring some toxic debt.
Investors were evidently pleased with the news that EVTI means to retire debt and “does not intend to issue [stock until it reaches] the full amount of two billion shares”. Indeed, the increase in authorized shares was justified as a measure necessary in “order to satisfy future reserve requirements”.
However, the fact remains that the company’s authorized share cap is now lifted sky-high, which leaves leaves EVTI investors in a rather precarious position.
Put quite simply – the only thing that currently guarantees the safety of EVTI‘s investor value is the management team’s reassurances – and experience teaches that words covered by forward looking statements are not much of a safety net.
Furthermore, even if EVTI somehow manages stop note-holders from crushing investor value under an avalanche of cheap shares – which seems unlikely, given its history – there’s still the issue of its extremely meager financials to consider:
- Cash – $1 thousand
- Total Assets – $76 thousand
- Current Liabilities – $2.2 million
- NO REVENUES TO DATE
- Quarterly Net Loss – $4.3 million
Long story short – there are a lot of pitfalls strewn along the path of both EVTI‘s long term investors and opportunistic traders wishing to make a profit out of the ticker. Both types of investors had better be extra careful when dealing with EVTI.
