For example, ENVV closed August by issuing a telling statement to shareholders in regards to its ongoing operations, its plans to monetize opportunities in the cryptocurrency sector and its SEC reporting status. “Recently, there may have been confusion regarding Envoy’s required financial reports and current status of the company,” stated Harp Sangha, Envoy Group’s Chief Executive Officer. “At present, Envoy Group is completely up to date on all required SEC financial reports. On the business side, we have made tremendous progress in ramping up our operations, commencing commercialization and creating a plan to increase revenue.”
Envoy Group Corp (OTCMKTS:ENVV) bills itself as a company that, through a division (BitReturn), has first targeted a high positive cash flow method of Mining of Digital Currencies that has been de-risked by employing the most effective Graphic Processor (GPU) technology and BitReturn’s secure Tier3 (T3) facility in Kamloops, B.C. Hundreds of 7 to 13 GPU arrays will be working 24/7 within the climate controlled facility.
Mining of Digital Currencies will be constantly directed to which currencies provide maximized profitability. New digital coins drop into the world every 10 minutes and BitReturn will be there to catch them.
According to company materials, “Envoy Group, Corp. (OTC Markets:ENVV) is a digital currency and Blockchain technology company. BitReturn, a division of the Envoy Group Corp., has first targeted a high positive cash flow method of Mining of Digital Currencies that has been de-risked by employing the most effective Graphic Processor (GPU) technology and BitReturn’s secure Tier3 (T3) facility in Kamloops, B.C. Hundreds of 7 to 13 GPU arrays will be working 24/7 within the climate controlled facility. Mining of Digital Currencies will be constantly directed to which currencies provide maximized profitability. New digital coins drop into the world every 10 minutes and BitReturn will be there to catch them. Block Chain is an incorruptible publicly distributed digital ledger that allows for transparent and secure validation of online information.”
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As discussed above, shares of ENVV continue to suffer since late July’s rather notable share price crash. But the company continues to push as a player in one of the most speculatively interesting market spaces – cryptocurrencies. And management has recently updated the market with some strong messaging.
On that note, ENVV highlighted some recent operational achievements, including news that it had successfully tested several Graphic Processor Units (GPUs) at the BitReturn processing facility, that current mining operations have yielded gross profits in excess of 45%, that it had received the shipment of BitReturns’ first large block of cryptocurrency mining hardware, that it has added over 500 Nvidia revenue producing GPUs to mining efforts, and that it has implemented a new operating system that increases efficiency by centrally managing all mining hardware reducing labor costs and improving scalability.
The chart shows about -20% piled onto shareholder losses in this stock just over the past week. That action comes in the face of an attempted recovery in shares following a Summer implosion, as noted above. That said, as we know so well, ENVV has evidenced a tendency toward sharp upward volatility on a few prior occasions. Furthermore, the stock has witnessed a pop in interest, as transaction volume levels have recently pushed 76% above the average volume levels in play in this stock over the longer term.
It pays to take note of this fact given the stock’s limited trading float of under 24M shares. This type of thing is something to watch out for: a jump in average daily transaction volume in a stock with a restricted float can unleash fireworks as supply is squeezed.
Currently trading at a market capitalization of $14.22M, ENVV has virtually no cash on the books, which stands against virtually no total current liabilities. One should also note that debt has been growing over recent quarters. The company is pre-revenue at this point. This may be a very interesting story and we will look forward to updating it again soon. Sign-up for continuing coverage on shares of $ENVV stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: We hold no position in $ENVV, either long or short, and we have not been compensated for this article.
Published by Oracle Dispatch, September 13, 2017