RESOURCE VENTURES (OTCMKTS:REVI) is one penny stock that mostly stays quiet for long period of time. Unfortunately, this also means that it gains little attention from analysts. The last that investors heard from REVI it had signed a book printing agreement with Young Buck. It has been over a month since any updates have been received from the company. Unfortunately, any such news failed to make a difference for the ticker, since investors tend to stay away from companies they know very little about.
REVI has a small market cap of just $6 million and with the state of its balance sheet the situation is not going to change anytime soon. For its 1Q2015, the company had reported $35,000 in cash, $581,000 in assets and $719,000 in revenues. As for the company’s liabilities they stood at $588,000, leading to a net loss of $7,000. Losses are not uncommon for penny stock companies, but the situation for REVI is very different. The company has very little business to profit from, there is a lack of news and shareholder updates. Additionally, there has not been a change in the company management for quite some time.
The company’s last business update was made public by the interim President, Michael Cipolla. REVI was successful in signing the international recording artist David Brown (Young Buck), for a definitive book agreement. David Brown has been signed by G-Unit records and is also the founder of Cashville Records. The book would mostly focus on his memoirs and reveal the deep seated stories behind his music.
David Brown, however, did place his trust in REVI resources and even went on to say that together they plan to create a New York Times bestseller. Mr. Cipolla took the opportunity to point out that his company has been involved in the book printing business for 28-years and aims to grow substantially in the coming years. Unfortunately, investors paid little attention to these words, compared to the company’s figures.
RESOURCE VENTURES (OTCMKTS:REVI) crashed by 33.33% during the June 16 session, after trading 327.19 million shares to reach a close at $0.0022.