Eco Ventures Group, Inc. (OTC:EVGI) stock price has been running down the chart for a long time now which does not make sense for a company that claims to be just about to start generating first revenues under a bio fuel production and sale contract. The last several sessions have shown that a reversal might happen. 
Yesterday, EVGI crossed the 50-day moving average which is considered to be a very strong bullish signal, especially given the stock traded below the MA since the end of August last year. The session closed slightly below that level then at $0.062 for a share, which is a 15% increase from the previous close. Trading volume amounted over 1 million traded shares in a day.
On Feb. 8, Eco Ventures announced in a press release an update on its Blanket Purchase Order from Agri Liquid Products. According to the press release, the purchase order is for the entire initial EVGI 3.6 million gallon per year bio fuel production. Further, EVGI should start producing by the start of April this year and the purchase contract has a market value of $12 million.
As opposed to those high revenues that the company claims to expect, investors do not actually believe that the proceeds could be that huge. EVGI stock has been valued now at $4.8 million, suggesting that either the market has not yet recognized its higher value, or there is something wrong with the company’s announcements.
As of end-November last year, EVGI reported total assets for $779,000, $4,000 in cash and $766,000 worth of property plant and equipment. As of the same date, EVGI has accumulated $814,000 in current liabilities.
