Resources Ventures, Inc. (PINK:REVI) Still Down Despite Promotions
Sometimes, a pump is much ado about nothing, and Resources Ventures, Inc. (PINK:REVI) has moved sideways, with little total movement for the day and no clear trend despite a very active and dense promotional campaign, with emails coming in almost every day. The ticker is down to 8 cents after losing 23%, a usual daily move for this stock.
The company does not report with the SEC, but its 2012 annual data with the OTC reveal the following resources behind the 8-cent stock:
- Zero cash
- $246 thousand current liabilities
- $1.5 million revenues
- $25 thousand net profit
The latest bid for expansion comes in the form of a press release, stating that REVI signed a memorandum of understanding with Next Space Solutions LLC, a California-based energy solutions company. It is still unknown if this preliminary agreement will hold, and for now it has no material power over the participants. The first proposal is for building a solar park worth $2 million, but it is unknown how REVI would be able to finance that. The ambitious project is trumped only by the company’s recent plans to build a solar park in Slovakia for $3.6 million plus the assumption of the debt of the local company. Luckily, the proposition is only on paper.
The company is worth a little over $7 million currently, with 92 million shares outstanding, with 80 million potential shares authorized. Even the bad days were used by promoters to tout the extraordinary chance of buying REVI at a bargain price.
With March nearing its end, REVI tallied up a bill of $190,000 for 95 emails, an exceptionally wide-spread promotion. Its pumpers are busy bees, taking up some of the most toxic penny stocks out there, companies with little real resources and big promises. One of the most active pumps going parallel with REVI is that of Ya Farm Technologies, Inc. (PINK:YFRM), a company that offers unregulated stem cell therapies in Mexico. Another pump, Livewire Ergogenics, Inc. (OTC:LVVV) has crashed by 60% after the promotion ran out of steam.
The last mailing for REVI is from Gain the Green, one of the major pumpers that received $100,000 and has been touting its selection non-stop since March 18th. Before that day, REVI was barely traded, and with more investors aware of the company, higher buying is possible, but also days in the red when investors shed their holdings. It is best to do your own estimation of risk before taking up any of the promoted stocks, or else choose to afford a certain loss.