Geo Vision International Group (PINK:GVIT) Tries to Claw Its Way Back Up
Yesterday Geo Vision International Group (PINK:GVIT) saw some heavy trading for a second day in a row, shifting over 47 million shares. After gaining 61% and 23%, the stock price reached half a cent per share at yesterday’s closing bell.
GVIT is a pink sheet enterprise, with barely any official public filings but putting out press releases at a rapid-fire rate. The only filings available are the company’s articles of incorporation and initial disclosure statement, as well as a single financial report dated September 30, 2012.
What little can be glimpsed from the filings is that the company was originally incorporated as early as 1986 but was shut down for reasons unknown, only to be brought back to life in mid-2012. The current line of work of GVIT is stated to be marketing and advertising services. The only filing containing any financial information for GVIT is an interim report for fiscal Q3 of 2012, containing the following figures:
- $1,200 in cash
- ZERO revenues
- $17 thousand in net loss
GVIT stock was hammered by a ton of promotional emails, with over 80 separate email pump alerts having come through since mid-January. The promotions did nothing to lift the stock and were compensated with relatively small amounts of cash, the best paid promoters bagging $20 thousand. GVIT is currently trading on press release hype and forward-looking optimism, as investors only have the company’s press announcements to go by and no actual proof for the performance of the company following their dreary September report.
The company’s registered business address also happens to be a post box somewhere in the state of Nevada.
Stock Rock and Roll, one of the best paid parties who ran the late January promotions for GVIT, previously ran a fashionably late pump on China Logistics Group, Inc. (PINK:CHLO), touting the stock in early February, after it had already crashed from a January pump. The promotion did little for CHLO stock, as can be seen on the chart.
Investors are advised to do their own due diligence and be extra careful with stocks that look like a bargain only because they are priced at under a penny, as there is always plenty of porential room to drop to triple zeroes.