Despite being actively traded on the stock market for less than two months, Eco Ventures Group Inc. (OTC:EVGI) is no stranger to paid promotions. Yesterday, it got at least two new promotions with very high compensations.
At the end of the session the result wasn’t all that impressive, but one has to take into account that promotional effectiveness has dropped since the SEC took action earlier this year. EVGI closed up 23.08% at $0.48, but the volume was an absolute high for EVGI – 2.9 million shares, more than three times the high from the September promotion.[BANNER]
One of the promoters expects $400 thousand from International Resource Holdings, and the other one expects $400 thousand from Commercial Demeter Zeroes.
In addition to the tout emails, today’s performance of EVGI could be boosted by a press release the company issued around 9:00 pm, yesterday. EVGI announced it had signed a Mineral Exploration Agreement with Broken Hills, LLC to recover precious metals from mine claims in Nevada.
“Our Agreement with Broken Hills guarantees us an ore supply that will keep our 5,000 ton per year plant operating at full capacity for years to come,” stated Randall Lanham, CEO of EVGI.
The limited response to the promotion may be due to the lack of current financial information about EVGI. The PR will probably help, but until a financial report shows something concrete and tangible, EVGI will have to rely on promotional and press release hype.
