New Pumps for Green Innovations, Ltd. (OTC:GNIN) Chug Along
It seems nothing can stop promoters from touting Green Innovations, Ltd. (OTC:GNIN). As a new wave of promo emails saw GNIN climb in double digits three days in a row, yesterday more pump mail came through, followed by new press release hype by the company.
The non-stop pumping seems to be paying off, as GNIN managed to take off from its last week’s low of under $.70 per share and almost double in three sessions, with promoters hammering their subscribers’ emails relentlessly, sending new touts every day. The company is doing its best to maintain the high level of hype as well, pushing out optimistic press releases on a daily basis.
Yesterday the news release was about more forward looking statement and the start of negotiations. Today there was another bit of PR hype, announcing the addition of ‘tree-free’ degradable napkins to the company’s catalog of products. More entertaining is the fact that the napkins in question were called a ‘high-demand’ product.
The company remains very heavy on the press side of things while doing very little to improve investor confidence in any other way. The last financial report for GNIN is still their 10-K for 2012, listing their $45 thousand in cash and $1.2 million in net loss for 2012. Even though the press releases and the pumps make it seem like it’s all clear skies for the company from now on, there’s nothing except the hype and the promotions that would suggest that.
By now everyone is probably well aware that GNIN is a pump job, and one that has already convulsed and crashed twice from its Feb and Mar highs of around $3 and $2 per share. A new spasm is very likely going to press the next dip lower, in a chain of events most pump jobs follow.