Time To Book Profits In Envoy Group Corp (OTCMKTS:ENNV) – BitReturn – Black Cactus Global
By Alex Carlson – Posted on July 23, 2017 – Envoy Group Corp (OTCMKTS:ENVV) has been one of the most talked about names among penny stock investors for the past two months. The stock has been on a straight upward trajectory, climbing from a few cents to highs of $.838 a share. With the stock closing Friday at new highs, it’s time for investors that bought in to now book profits. The stock has been tagged “Caveat Emptor” by OTC Markets and hit with the dreaded “Skull & Crossbones.” We have seen this scenario play out many times and an SEC trading halt is most likely next, which will leave stockholders holding the bag. In this article, we’ll tell you what happened.
First up, a little background on the company.
Envoy Group Corp 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 publically distributed digital ledger that allows for transparent and secure validation of online information.
According to OTC Markets, they placed the “Caveat Emptor” sign because of one of the following reasons.
- Promotion/Spam without Adequate Current Information — The security is being promoted to the public, but adequate current information about the company has not been made available to the public. Promotional activities may include spam email, unsolicited faxes or news releases, whether published by the company or a third party.
- Investigation of Fraud or Other Criminal Activities — There is an investigation or other indication of fraudulent or other criminal activity involving the company, its securities or insiders.
- Suspension/Halt — A regulatory authority or an exchange has halted or suspended trading for public interest concerns (i.e. not a news or earnings halt).
- Undisclosed Corporate Actions — The security or company is the subject of a corporate action, such as a reverse merger, stock split, or name change, without adequate current information being publicly available.
- Unsolicited Quotes — The security has only been quoted on an unsolicited basis since it entered the public markets and the company has not made adequate current information available to the public.
- Other Public Interest Concern — OTC Markets Group may determine that there is a public interest concern regarding the security. Such concerns may include but are not limited to promotion, spam or disruptive corporate actions even when adequate current information is available.
Of the reasons listed, promotion/spam is the reason behind the ENVV warning. ENVV has become one of the most talked about promotions and the large increase in trading volume has been the work of promoters creating awareness around ENVV. With all the excitement surrounding Bitcoin, Blockchain and other cryptocurrencies, ENVV promoters were able to piggyback off the daily news flow off Bitcoin. With so many people looking to get in on the Bitcoin price surge, ENVV was able to ride the wave.
Now that OTC Markets has issued the “Skull & Crossbones,” some brokerage firms will not let their customers buy shares of ENVV. It will become a security that customers can only liquidate. Furthermore, the “Skull & Crossbones” will attract the attention of the SEC. For all of these reasons, we are issuing an immediate SELL recommendation on ENVV. Time to book profits and buyer beware!
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Disclosure: We have no position in ENVV and have not been compensated for this article.