Following a series of two negative sessions, Green EnviroTech Holdings Corp. (PINK:GETH) is about to start this week’s trade under fairly ‘pumping’ circumstances. As you might have guessed, GETH has just become subject to a one-off paid promotional campaign.
Last Friday, GETH went down $0.0045, or 16.36%, to $0.023 per share. The stock did not enjoy heavy trade as barely 87,700 shares changed hands, which is only a fraction of the company’s daily average volume.
As it is, investors did not seem to be pleased with the news that the company had now sold its permit to construct a facility for processing oil from waste plastic to third party WM Riverbank Recovery, LLC. Now, a third party has invested $20 thousand to pump GETH stock for one day only.
Until recently, GETH used to be a regular SEC filer. This is no longer the case, though. Ever since the company filed an NT 10-Q form with regard to the second calendar quarter of 2011, it has published no financial data whatsoever. Not surprisingly, GETH has now been relegated to the OTC Limited market tier.
When GETH closed the first quarter of 2011, it had cash reserves of $76 thousand and working capital deficit of $2.5 million. The company was highly leveraged with a D/E ratio of 1.42. What is more, GETH generated $35K in revenue, which is nowhere near the net loss of $402K incurred within the same reporting period.
