Resource Ventures, Inc. (PINK:REVI) Jolted Into Life by Pumps

REVI_chart.gifYesterday a horde of pumpers started touting Resource Ventures, Inc. (PINK:REVI) and someone tossed around a whole lot of money to lure the promoters out of their holes. As a result, REVI shot up 400% on volume 60 times higher than its cumulative volume for a full year back.

The pack of pumpers touting REVI includes Gain the Green and Market Bulls who disclosed compensation of $100 thousand for their effort, as well as The Bull Exchange and OTC Market Alerts, expecting compensation of $50 thousand. The pumps kicksterted the company to life after it spent the last full calendar year on the market completely dead.

The pumps tout the low float of the company and the world’s increasing demand for energy sources, as if this alone is a factor for REVI‘s success. The company came up with a conveniently timed press release, announcing it has acquired Global Energy Management, Ltd., an energy company, in a $10 million deal. A quick look at REVI‘s latest yearly report for 2012 may be in order. Here is a rundown of the report’s numbers:

  • ZERO cash
  • $246 thousand in current liabilities
  • $25 thousand in YEARLY net income

Even if we pay no attention to those numbers, the supplemental document to the report states that Global Energy received its 130 million common shares of REVI as early as September 5, 2012. The asset purchase agreement itself was signed in August. Even if traders decide to completely disregard the fact that the shares were issued at a massive discount at $0.001 per share, one very important question still remains – how come on the exact day the paid pumps started REVI decided to post a press release for a deal that took place more than six months ago? Investors probably can answer this one on their own.

YFRM_fail.pngThe pumpers at Market Bulls who will be pocketing $100 thousand for their advertising efforts for REVI, previously promoted other pink sheet companies who later flopped horribly. One recent example is a pump job for YaFarm Technologies, Inc. (PINK:YFRM) – their stock is currently trading 80% down from its pumped highs.

Investors are advised to do their own due diligence and never trade on paid recommendations and pump hype.

You may also like...