EVFL might want to end the "aggressively pursue informing the public about the benefits and uses of renewable fuels" idea and look toward reducing the excessive shares in the market place.
You heard it here first folks. The pennystockguru thinks a share reduction press release is on the horizon. If the guru knows his penny stocks than this could hit the wires any day now. That would be one way to lose the $.0001s on the ask.
http://pennystockgurus.blogspot.com/2009/09/evfl-900-million-shares-and-0001s-are.html
Like clockwork EVFL today released a share purchase program. Pretty uncanny if you ask me. And guess what? The $.0001s did leave the ask. The guru should be getting paid for calling this, as well as helping the company finally figure out how to lose the ask (asuming today's press release was based upon the guru's call out of EVFL only two days ago.)
Today's Press Release:
DALLAS, Sep 24, 2009 (GlobeNewswire via COMTEX) -- Evolution Fuels, Inc. (Pink Sheets:EVFL) (the "Company") today announced that its Board of Directors authorized a stock repurchase program under which up to ten billion shares of its outstanding common stock may be acquired in the open market over the next six months at the discretion of management. The shares will be purchased from time to time at prevailing market prices, through open market or unsolicited negotiated transactions, depending upon market conditions. Under the program, the purchases will be funded from available working capital, and the repurchased shares will be held in treasury or used for ongoing stock issuances such as issuances under employee stock plans. There is no guarantee as to the exact number of shares that will be repurchased by the Company, and the Company may discontinue purchases at any time that management determines additional purchases are not warranted.
Evolution Fuels' CEO, Dennis McLaughlin, remarked, "The Board's approval of this program reflects our confidence in Evolution Fuels' future. Repurchasing stock demonstrates our commitment to enhancing stockholder value."
About Evolution Fuels, Inc.
The penny stock guru states an impending share reduction scheme would be forth coming and less than two days later it comes.
Let's hope some EVFL shareholders used today's bid to unload shares they haven't been able to sell for some time.
A quick glimpse of today's press release and you get all the "may", "up to", and "no guarantee" wordings that accompany a share buyback by a $.0001 stock. Frankly there is no guarantee of anything here. Just a speculative press release stating a might be, not something that will happen for sure.
Don't believe everything you read. Do you really think EVFL, after creating 20+ billion outstanding shares out of thin air, is now going to buy half of those back on the open market?
That remains to be seen. Let' see some continued volume tomorrow focused on the $.0002's, and maybe this stock will get somewhere.
Today's press release illustrates the guru's amazing ability to understand the inner workings of a sub-penny stock. ***Pat on back ****
To call for a share reduction press release and less than two days later to have the company follow through on it is, as I said before, uncanny. Either the companies read this blog or the penny stock guru is just that good ***another pat on the back****
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5 comments:
So what is your next prediction? We closed in the green today up 100% and great volume all week. gap up on monday?
your in at 1 take half out at 2 and pray ~
If I had purchased shares I would have most of them up for sale at $.0002 and watching closely for large block sales that might send the stock back to no bid. it is a precarious situation with so many shares in the market place.
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Brim over I agree but I think the collection should acquire more info then it has.
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