EURI-nal

Promoters issue a fake-out when they announce that their "new pick" is the current pick

March 15, 2017: Followers of the Elite Penny Stock group of newsletters were eagerly awaiting the announcement of a new scam that was first promised for Monday and then delayed until this morning. Those with experience trading Elite's "picks", expect that they will be able to flip a trade for profits as the promoter habitually walks up the share price of its subject through wash trades and misleading information.

All the hopeful got was a repeat of an already regurgitated pump, Agrieuro Corp. (EURI), This ticker first created victims during a late 2015 five long week pump and dump campaign perpetrated by these same promoters, albeit with differently named newsletters. After reaching highs of $1.73, the share price fell back all the way to 2 cents once the hype ended.

EURI 2 Year Chart

Presumably, those insiders that dumped their shares during the first campaign were able to repurchase much of them at severe discounts, as the new pump and dump campaign was launched without a reported increase to the number of shares issued and outstanding. Regurgitated promotions of Writ Media Group (WRIT) and Petrogas Company (PTCO)--previously hyped as America Resources Exploration (AREN)--each featured significant reverse splits, wiping out bag holders from their previous pump and dump campaigns. The rollbacks were followed by new insider stock issuances in advance of their respective re-pumps, and news release programs that were concurrent with the new pumping effort, making it unquestionable that these companies and their management were complicit in the successfully executed schemes to defraud the public.

   » Related: EURI Past Performances

Needing a little boost to the current EURI hype, the promoters cleverly introduced another email newsletter in their portfolio to come out on the stock, after teasing a "new pick" for several days. Although many were disappointed that a new ticker wasn't the subject of the pump and dump scheme, shares of EURI are up this morning, but it remains to be seen whether they can keep it up for long. Now in its 23rd day of hype, shares have struggled to get above the 20 cent mark. It seems likely that many disappointed flippers will stay on the sideline and await the next subject company.

Several rumors on the internet have identified that company as VinCompass Corp. (VCPS), a newer ticker which names penny stock attorney, Luke Zouvas, as its Legal Counsel. Zouvas has represented many companies whose stocks were the subjected of extended pump and dump campaigns.  He was also a former partner of Luis Carillo and Wade Huettel, since disgraced attorneys, whose clients were often pumped by the old Awesome Penny Stocks cartel. It is probably not a coincidence that VCPS shares a lot of seed shareholders with past pump and dump subjects VBIO, XLIT, FTWS and ORRP.

   » Related: Pump and Dump Attorney Luke Zouvas Charged by the SEC

Supporting the ongoing pump of EURI is a host of company press releases, unsurprisingly issued concurrently with the launch of the pump and this morning's reset. Today's pump piece boasts about the company's ability to sell out its entire reed harvest.

It is a $50 billion industry all by itself, and demand for the natural material regularly outstrips the supply. Case in Point, EURI has pre sold and sold out its entire reed harvest for 3 years in a row.

According to EURI's most recent financials for the period ending September 30th, 2016--the company has obviously delayed releasing its more current financials to the end of the current pump and dump campaign--nine month revenue was about $144K, not exactly a huge bite out of a $50 billion industry.  Total assets are listed at $4.3 million, almost all of it under the property and equipment line item. Liabilities are list at $2.4 million, meaning that a lot more stock is about to be issued, if it hasn't already.

At any rate, the current market cap of about $46 million is going to be difficult to justify, and anybody left holding the bag at the end of this promotion is likely to be subject to a reverse split.