Green Endeavors, Inc. (PINK:GRNE) has been promoted. Again. However, if you intend to capitalize on it, you had better familiarize yourself with what GRNE did the last time it was pumped.
Last night, a promotional email reached our database stating that promoter ActualGains.com has received $7,000 for a one-off advertising campaign in support of GRNE. For the record, that same promoter performed the same action on Feb. 24 when it performed the same services against compensation of $6 thousand paid by the same third party. As a result, GRNE slumped by 22.22%. What followed then was another promotion worth $3 thousand, again with a fairly limited impact.
GRNE closed last week’s trade at $0.0004, up 33% from its previous close, on a volume of 36.5 million, slightly above the daily average turnover. Thus, GRNE remained dangerously close to the absolute zero on the pink sheets. Unless the company comes up with something positive to share in the near future, it will either linger in the triple zeros, or undergo a reverse split.
Because, although GRNE announced a seven-year lease last Friday, the news did not sound convincing enough since GRNE only gained a single pip in value.
The company’s financial condition has barely changed for the last few quarters. In fact, GRNE’s working capital gap still resides at around $1.2 million. The company’s total debt currently amounts to $4.4 million, while the stockholders’ equity is a negative figure. At least, the company realized net profit of $24 thousand for the third calendar quarter of 2011. Nevertheless, it will take much more to overcome the liquidity crisis the company has found itself in.
